Korea Electric Power Corp., the largest state-owned utility company, became the nation’s second-biggest company after Samsung Electronics in terms of market capitalization Monday, as its shares hit a record high of 52,200 won ($45). KEPCO’s share price rose four consecutive trading days, lifting the company’s market value to 33.1 trillion won. Hyundai Motor fell one notch to third place on the same day as its shares fell 1.5 percent to 91,400 won. The market value of the nation’s largest automak

The country’s top three shipyards are readying for restructuring as they deal with a collective second-quarter operating loss of 4.7 trillion won ($4 billion), battered by ailing offshore businesses.The financially distressed players ― Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering ― are expected to step up slimming efforts in the second half of the year, including merging divisions, offloading noncore assets and suspending investment in new proje

Chinese state-run media has defended the government's treatment of a revered Tibetan monk who died in prison last week, after rights groups and his family slammed the handling of his death.Tenzin Delek Rinpoche, 65, was 13 years into a life sentence for terrorism and separatism, imposed following a trial which observers said was deeply flawed, when authorities announced news of his death at the weekend.Rights groups said the circumstances of his death were unclear and the family said Delek was c

Oil prices rose on Monday as dealers focused on crunch Greek debt talks and a possible return of Iranian supplies to the market. US benchmark West Texas Intermediate for July delivery gained 56 cents to $60.17 a barrel compared with Friday's close.  Brent North Sea crude for August won 54 cents to $63.55 a barrel around  midday in London."Hopes that agreement could be reached in the debt dispute with Greece at today's EU summit are lending buoyancy to oil prices as the new week begins," said Com

South Korea said Tuesday it plans to come up with measures to improve its special pardons by next month in a bid to ensure that they are granted in a more fair and transparent manner.In South Korea, presidents usually grant special pardons in commemoration of major national holidays, though the practice has long been under fire for being abused to give favors to their friends and business leaders who have been jailed for corruption.The government held a meeting earlier in the day to discuss how

Police found two more camps Tuesday believed to have held human trafficking victims in southern Thailand -- one recently abandoned and the other containing a buried skeleton -- days after the grim discovery of 26 bodies at a separate location exposed a thriving human smuggling network in the country."We will keep searching, because this means the traffickers are still on the run and taking people with them," said police Maj. Gen. Amphon Buarubporn, the commander of police for Songkla province, w

Tours by Chinese people to North Korea have been showing signs of getting back on track after Pyongyang lifted its months-long entry ban on foreign travelers imposed as part of efforts to prevent the spread of the Ebola virus, Chinese tour firms said Saturday. North Korea is half a world away from Ebola-hit West Africa, but the reclusive regime closed its doors to foreign tourists last October. The ban, which took a toll on Chinese travel firms specializing in tours to the North, was lifted earl

The South Korean stock market is likely to see a gradual gain next week as investor sentiment improves after the central bank's rate cut, analysts said Saturday. The country's key stock market index KOSPI closed 1.35 percent lower than a week ago at 1,985.79 on Friday. Seoul shares were able to pare some of its earlier losses this week after the Bank of Korea unexpectedly decided to cut the key rate to a record-low of 1.75 percent on Thursday. Analysts said the effect of the BOK's surprise rate

One Coast Guard officer died and three others went missing after a helicopter on a rescue mission crashed near an island off South Korea’s southwestern coast, officials said Saturday.The Coast Guard helicopter crashed in waters off Gageodo Island at around 8:27 p.m. Friday, while trying to land near a seawall to carry out a mission to transport an emergency patient to an inland hospital.     Of the four aboard the helicopter -- two pilots, one helicopter mechanic and a relief worker -- the mecha

Iran could allow Internet giants such as Google to operate in the Islamic republic if they respect its "cultural" rules, Fars news agency said Sunday quoting a senior official."We are not opposed to any of the entities operating in global markets who want to offer services in Iran," Deputy Telecommunications and Information Technology Minister Nasrollah Jahangard told Fars."We are ready to negotiate with them and if they accept our cultural rules and policies they can offer their services in Ira

Amy Yang of South Korea captured her second career LPGA Tour win here in Thailand on Sunday.Yang won the Honda LPGA Thailand by two strokes over three golfers on Pattaya Old Course at Siam Country Club in Chonburi, after shooting a three-under 69 on Sunday for a four-round total of 15-under 273.Yang, who joined the LPGA in 2008, had last won on the tour in 2013. She is the third South Korean winner in four events so far in 2015. Yang, the runner-up at the ISPS Handa Women's Australian Open last