The number of employed people over 50 has exceeded 8 million for the first time, reflecting an older workforce brought on by Korea’s fast-aging society. Statistics Korea said Thursday that the number stood at 8.02 million as of the end of April, up 313,000 from the previous month. The figure is the highest ever recorded for the age group and is more than double the level in 1991, 4.03 million.The

Famed architect Moshe Safdie on Thursday said his team aimed to incorporate elements unique to Korean culture in his design bid for a second terminal at Incheon International Airport. Addressing reporters in Seoul, the star designer of Singapore’s Marina Bay Sands Resort detailed his ambitions to take on what would be his third airport project. “In the old days, people coming to Seoul felt their f

Data shows practice leads to collusion between lenders and watchdogOne in three savings banks suspended in the last decade had hired former officials from the financial watchdog or the central bank as auditors, a report said.Analysts said the data demonstrates long-held collusive ties that public agencies have had with the lenders they supervise.The findings by the Korea Federation of Savings Bank

The 2011 Mini Cooper S Countryman is a big Mini. Big, of course, is relative in this case, but this new four-door’s size rankles purists, who point to the name of the brand itself. You can’t have a super-size Mini.Yes, BMW says, you can.The Mini family, owned by BMW, now includes the various Cooper models, the larger Clubman and the all-new Countryman, which has been described as Mini’s SUV. The b

With Hyundai and Kia releasing gasoline-hybrid electric vehicles, you might want to consider something bigger than a compact model. Mid-sized cars can be just as fuel efficient.No compact cars were included in the list of top 10 most fuel efficient models for the first time after Hyundai Motor Group’s Sonata, K5, and Volkswagen’s Jetta BlueMotion joined the race this month ― your bigger and more p

Korea, China, Japan agree to double regional emergency liquidity fundFinance ministers of South Korea, Japan and China on Wednesday vowed to strengthen the crisis prevention function of the current regional financial safety net of the Chiang Mai Initiative, their joint statement said.Gathered for an annual Asian Development Bank conference in Hanoi, Vietnam, the three finance chiefs also agreed to

Consumer prices rise 4.2 percent on-year in AprilInflation in April slowed to 4.2 percent on-year, down from a 29-month high of 4.7 percent a month earlier on Seoul’s price controls and lower fresh food prices, a government report said Monday. The figure still exceeded the Bank of Korea’s inflation target of 2 to 4 percent for the fourth consecutive month but was slower than the 4.3 to 4.6 percent