The National Tax Service has slapped a 62 billion won ($58.6 million) fine on Lotte Tour chief executive Kim Ki-Byung for tax evasion and referred the case to the prosecution.Lotte Tour is independent of Lotte Group, but Kim is married to Lotte Group chairman Shin Kyuk-ho’s younger sister and Dongwha Duty Free CEO Shin Jung-hee. Kim Ki-byungAccording to NTS sources, Kim was fined for illicit measu

SC First Bank, the Korean unit of Standard Chartered Plc., said Monday it had temporarily shut down operations at 43 branches in a bid to minimize the impact of a prolonged labor strike. A customer stands in front of the shuttered SC First Bank in Ankuk Station in central Seoul on Monday. (*Park Hyun-koo/The Korea Herald)Unionized workers at SC First Bank launched an indefinite strike on June 27 i

BEIJING (AP) ― China reported an unexpectedly large April trade surplus, likely fueling U.S. pressure over currency controls and market access as American and Chinese officials hold high-level talks in Washington.China’s global trade surplus widened to $11.4 billion as import growth fell amid government efforts to cool an overheated economy and exports rose by nearly 30 percent, data showed Tuesda

South Korean figure skater Kim Yu-na said Friday she’s well prepared to pursue her second world title in Russia next week after an extra month of training on home ice.“I hope I can compete as well as I’ve done in my practices,”Kim told reporters at Incheon International Airport, west of Seoul, before departing for Moscow, the venue for this year’s World Figure Skating Championships.“The key is not

SAN ANTONIO, Texas (AFP) -- Korean-American Kevin Na endured a nightmare ninth in the Texas Open, setting a PGA Tour record-worst with a 16 on the par-4 hole.Na‘s Thursday woes included an unplayable lie from the tee, a two-stroke penalty after the ball bounced off a tree and hit him, and five straight shots from a thicket.“I got done with the hole and I said (to my caddie), ’I think I made somewh