President Park Geun-hye accepted the resignation of her senior press secretary Wednesday, the presidential office said, holding him responsible over allegations of sexual misconduct by the now-fired spokesman during her visit to Washington.Senior secretary Lee Nam-ki was not involved in the alleged abuse by then spokesman Yoon Chang-jung, but he offered to quit in order to take responsibility as Yoon's immediate superior. Yoon was accused of making unwanted sexual advances toward a young intern

South Korean stocks closed 0.64 percent higher Wednesday as the U.S. Federal Reserve highlighted the necessity to maintain its quantitative easing, boosting investor sentiment here, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 12.74 points to finish at 1,993.83. Trading volume was low at 321.7 million shares worth 4.45 trillion won ($4 billion) with gainers outstripping losers 451 to 348."Seoul shares traded highe

An independent journalists' group in South Korea on Wednesday exposed a list of high-profile Korean businessmen and their families suspected of running slush funds in tax havens, in what could cause a huge social ripple amid a slew of ongoing probes into secretive money owned by the rich.The Korea Center for Investigative Journalism (KCIJ), a non-profit organization set up by former journalists, disclosed three names of heads of family-owned conglomerates, known here as chaebol, who allegedly ha

Microsoft thinks it has the one.The company unveiled the Xbox One, an entertainment console that wants to be the one system households will need for games, television, movies and other entertainment. It will go on sale later this year, for an undisclosed price.For the past two years, Microsoft has led the gaming industry in console sales with the Xbox 360. But it's been eight years since that machine came out, and Microsoft is the last of the three major console makers to unveil a new system. In

서울중앙지검 형사7부(김형렬 부장검사)는 부인 차량에 몰래 위치추적기를 부착하고 부인을 손찌검한 혐의(위치정보의 보호 및 이용 등에 관한 법률 등)로 연예인 류시원(41)씨를 불구속 기소했다고 22일 밝혔다.검찰에 따르면 류씨는 2011년 5월 서울 강남구의 한 자동차 정비소에서 부인 조 모(29)씨 소유의 벤츠 승용차에 GPS 위치추적장치를 부착해 약 8개월간 부인의 위치 정보를 수집한 혐의를 받고 있다.같은해 8월 GPS 부착 사실을 안 조씨가 이를 떼어달라고 말하자 화가 난 류씨는 "내가 우습냐. 나한테 죽는다"라고 폭언하며 손바닥으로 조씨 얼굴을 수차례 때린 것으로 조사됐다.류씨는 이어 "나 아는 건달들 많다. 너 어디 가서 어떻게 했는지 사진까지 다 찍어버릴 수 있다. 나 무서운 놈이라니까"라고 협박했다.이어 한달쯤 뒤 류씨는 부인 휴대전화에 몰래 위치추적 어플리케이션을 설치, 위치정보를 계속해 수집한 것으로 드러났다.2010년 류씨와 결혼한 조씨는 지난해 3월 서울가정법원

Local exporters saw their net fall in 2012 from a year earlier, data showed Wednesday, as the weak Japanese yen apparently dealt a harsh blow to their price competitiveness and global sales.Top 500 South Korean firms' net nosedived 7.8 percent to reach 98 trillion won ($88.1 billion) last year from 2011, according to data compiled by CEO Score, a local corporate research firm.Chemical firms led the overall decline, with their operating profit moving down 50.5 percent in 2012 from a year earlier.

Shareholders at JPMorgan Chase voted to let Jamie Dimon, the chairman and CEO, keep both his jobs.At the bank's annual meeting, just 32 percent of shareholders voted for a non-binding measure that would have advised the bank to split the roles. That's less than the 40 percent vote that a similar proposal received last year.Shareholder groups lobbying for the split gained momentum from a surprise $6 billion trading loss last year, which tarnished the reputation of both JPMorgan Chase & Co. and Di

Twitter is booming as a social media destination for teenagers who complain about too many adults and too much drama on Facebook, according to a new study published Tuesday about online behavior. It said teens are sharing more personal information about themselves even as they try to protect their online reputations.Teens told researchers there were too many adults on Facebook and too much sharing of teenage angst and inane details like what a friend ate for dinner.“The key is that there are few

South Korea is in talks with China to set up a summit between President Park Geun-hye and Chinese President Xi Jinping for late June, the presidential spokeswoman said Wednesday.China will be Park's second overseas trip since taking office in February. In early May, she visited the United States and held summit talks with President Barack Obama where they reaffirmed that the two countries are firmly united against threats from North Korea. "South Korea and China are undertaking discussions about

South Korea's external debt fell in the first quarter due to a weaker won, with the ratio of the short-term foreign debt against the total debt hitting an over 13-year low, the central bank said Wednesday.The country's external debt totaled US$410.3 billion as of the end of March, down $3.3 billion from three months earlier, according to the Bank of Korea (BOK).The data marked the lowest reading since $398.7 billion in the fourth quarter of 2011.The BOK said that foreign investors continued to b

South Korean stocks opened higher Wednesday as officials from the United States Federal Reserve highlighted the necessity to maintain its quantitative easing down the road, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) shot up 8.84 points, or 0.45 percent, to 1,989.93 in the first 15 minutes of trading.Tech blue chips led the gain, with market behemoth Samsung Electronics adding 0.13 percent and its rival LG Electronics moving up 0.72 percent. Leading chipmaker SK hynix c

The U.S. Senate sharply questioned the CEO of Apple Inc., the world's most valuable company, over allegations that its Irish subsidiaries help it avoid billions in taxes, and Tim Cook declared, “We pay all the taxes we owe _ every single dollar.”The Senate Permanent Subcommittee on Investigations released a report Monday that held up Apple as an example of the legal tax avoidance made possible for companies by the U.S. tax code. It estimates that Apple avoided at least $3.5 billion in U.S. feder