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Leaders of N. Korea, China voice hope to mend ties

North KoreaJun 1, 2016

North Korean leader Kim Jong-un and Chinese President Xi Jinping on Wednesday expressed their willingness to improve strained ties over the North's nuclear weapons program, with both sides saying that they would work together to maintain peace and stability on the Korean Peninsula. The message was exchanged during a meeting in Beijing between Chinese President Xi Jinping and a visiting high-level North Korean delegation, led by Ri Su-yong, vice chairman of the North Korean ruling party's central
N. Korean leader's aunt runs dry-cleaner in U.S.: W.Post

North KoreaMay 28, 2016

The aunt of North Korea's supreme leader Kim Jong-Un lives anonymously in the United States, where she runs a dry-cleaning business after having defected in 1998, The Washington Post reported Friday.Ko Yong-Suk -- who lives with her husband Ri Gang and their three children under assumed names -- was the sister of Ko Yong-Hui, one of former North Korean leader Kim Jong-Il's wives and mother of Kim Jong-Un.Close to North Korea's communist regime, the couple was sent to Switzerland to look after me
More S. Korean firms opt for stock splits

May 28, 2016

A growing number of listed South Korean firms have split their stocks in a bid to boost turnover and attract individual investors, the main bourse operator said Saturday. A total of 27 companies listed on the KOSPI and KOSDAQ markets have reduced the face value of their stocks this year, with seven more expected to follow suit in the third quarter, the Korea Exchange (KRX) said. Among them are Lotte Confectionery Co., the food unit of retail giant Lotte; Crown Confectionery Co.; and Doosan Heavy
Journalist shot dead in Philippine capital: police

World NewsMay 28, 2016

A crime journalist has been shot dead in Manila, police and colleagues said Saturday, the latest addition to a lengthening list of unsolved murders of media workers in the Philippines.Alex Balcoba, 56, was attacked in central Manila late Friday outside a watch repair shop owned by his family, the country's National Press Club said in a statement.The club's president Paul Gutierrez said the attack on Balcoba, a reporter for the People's Brigada tabloid, brought to more than 30 the number of journ
Janet Yellen says Fed could raise rates in coming months

World BusinessMay 28, 2016

Federal Reserve Chair Janet Yellen said Friday that an interest rate hike would be appropriate in the coming months if the economy keeps improving.While economic growth was relatively weak at the end of last year and beginning of this year, it appears to be picking up now based on recent data, Yellen said during a discussion at Harvard University.She said she expects the Fed to “gradually and cautiously increase” its key interest rate “and probably in the coming months, such a move would be appr
N. Korea threatens to fire at any ship intruding into western sea border

North KoreaMay 28, 2016

North Korea again claimed the South Korean Navy’s firing of warning shots at its vessels that trespassed into the de facto western maritime border as “a premeditated plot” to heighten inter-Korean tension on Saturday.The North said it will open fire without warning at any South Korean warship that intrudes an inch into the sea border.“The reckless military provocation was evidently prompted by a premeditated sinister plot to bedevil the North-South relations and further aggravate the tension on
N. Korea continues to show signs of nuclear reprocessing activity

North KoreaMay 28, 2016

North Korea continues to show signs suggesting it could be reprocessing spent nuclear fuel to harvest plutonium for nuclear weapons, a U.S. research institute said Friday, citing recent satellite imagery.The May 22 imagery of the North’s Yongbyon nuclear complex shows nine tanks in front of the spent fuel reception building next to the reprocessing plant, and smoke from a coal-fired plant providing steam for reprocessing activity, the Institute for Science and International Security (ISIS) said.
Household debt ratio by local banks hits bottom

May 28, 2016

The ratio of South Korea’s household debt borrowed by local banks dipped to the lowest-ever level as stricter screening regulations prompted more people to take out loans from nonbanking lenders, data showed Saturday. The private sector debt, excluding credit card spending, tallied at 569.3 trillion won ($482.5 billion) at end-March, and loans by local banks accounted for 49.1 percent of the total, the Bank of Korea (BOK) said. It is the lowest since the fourth quarter of 2002 when the central b
Shares expected to move in tight range next week

May 28, 2016

South Korean stocks will likely remain in a tight range next week on lingering uncertainties over the U.S. Federal Reserve’s rate decision and Britain’s possible exit from the eurozone, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,967.17 on Friday, up 1 percent from a week earlier. The index dipped to a three-month low on Tuesday, but bounced back the next day as securities firms rallied on expectations of extending stock trading hours by 30 minutes
Weather service apologizes for wrong quake message

Social affairsMay 18, 2016

South Korea's weather service said Wednesday that its employee mistakenly sent to local media outlets a fax message saying that a 6.5-magnitude earthquake occurred in Hoengseong, Gangwon Province.The Korea Meteorological Administration (KMA) apologized for the false message, saying that it was wrongly disseminated amid a five-day disaster response exercise, which began on Monday."We apologize deeply for causing inconvenience," the KMA said in a statement."The message was made for an exercise pur
S. Korea to pick foreign jet engine by June to equip indigenous combat jets

DefenseMay 18, 2016

South Korea will select a foreign jet engine maker to power the country's first indigenously-developed combat aircraft by next month, the defense procurement agency said Wednesday.European jet engine giant Eurojet Turbo GmbH is competing against U.S. rival General Electric (GE) for the South Korean deal to procure engines for its high-profile indigenous fighter jet project, known as the Korean Fighter Experimental, or KF-X.The Defense Acquisition Program Administration (DAPA) is currently review
Now is the time to focus on pressuring N.K. with sanctions: unification minister

North KoreaMay 18, 2016

SEOUL, May 18 (Yonhap) -- South Korea's point man on unification said Wednesday that now is the time to focus on punishing North Korea with sanctions for its nuclear and missile provocations amid the possibility of the North's fifth nuclear test.Unification Minister Hong Yong-pyo told a forum that seeking dialogue with Pyongyang is needed down the road, but it is also not a panacea.“Dialogue is necessary, but it is not a cure-all,” Hong said.“There is the need to prod North Korea into changing i
U.S. soldier deserts military unit ahead of trial: police

Social affairsMay 18, 2016

An unarmed U.S. soldier awaiting trial has deserted an American Army base in a city near the border with North Korea, police said Wednesday.The whereabouts of a 27-year-old serviceman, whose identity is withheld, has been unknown since Saturday when he is presumed to have run away, according to the police. It said the U.S. Army is currently trying to locate him.Police said he belongs to the U.S. Army's 2nd Infantry Division at Camp Casey, which is located in Dongducheon, some 40 kilometers north
French president stands firm on labor reforms amid new protests

World NewsMay 18, 2016

French President Francois Hollande vowed Tuesday to stick with his controversial attempts to reform the labor market, even as a new round of violent protests broke out.Police fired tear gas in central Paris as an initially peaceful protest organized by unions and students was disrupted by a more radical fringe.The labor reforms have sparked two months of protests on France‘s streets, drawing 68,000 nationwide on Tuesday, authorities said, while organizers put the turnout at 220,000. “Withdraw, w
[Weekender] Breaking the sugar habit

Social affairsMay 13, 2016

About two years ago, Park Hyung-jun was told by his doctor that he should stop drinking coke. The 32-year-old used to have three cans of coke a day – one after every meal. “I loved the sensation of carbonation and the sweet taste,” he told The Korea Herald. “It felt like drinking coke helped digestion. It was just a nice way of finishing meals, especially heavy ones. ”Kim developed his love for coke while he was serving his military duty about five years ago. Coke became a daily necessity for hi