A South Korean parliamentary committee adopted a resolution on Friday against Japan's push for "collective self-defense," expressing concern over Tokyo's efforts to expand the role of its military beyond its borders.The resolution, adopted by the National Assembly's special committee against the distortion of Northeast Asian history, urges Japan to stop its pursuit of the right to use force against any military attack on its allies.Japan's move has won support from its ally, the United States, b

South Korean stocks closed 0.26 percent lower Friday due mainly to financial uncertainties from the United States, analysts said. The local currency traded lower against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) shed 5.02 points to 1,962.91. Trading volume was low at 221.4 million shares worth 3.33 trillion won (US$3.16 billion) with losers outpacing gainers 424 to 362.Analysts said Seoul shares lost ground due to better-than-expected economic indicators from the U.

The stunning execution of North Korean leader Kim Jong-un's once-powerful uncle, Jang Song-thaek, is unlikely to have a major impact on bilateral relations with China, a Chinese expert said Friday, describing the execution as Pyongyang's "internal affair." North Korea announced earlier in the day that Jang, who had been considered the second most powerful man in the reclusive state, has been executed after a special military tribunal found him guilty of treason."In my personal opinion, it is unl

South Korean stocks traded lower late Friday morning due mainly to financial uncertainties from the United States, analysts said, while North Korea's instability had a limited impact.The benchmark Korea Composite Stock Price Index (KOSPI) shed 10.55 points, or 0.54 percent, to 1,957.38 as of 11:20 a.m.Shares lost ground across the board, with tech giant Samsung Electronics falling 1.06 percent and top steelmaker POSCO losing 0.76 percent. Leading chipmaker SK hynix moved down 0.82 percent.Concer

South Korea has practically lowered its goal of future overseas development aid due to budget constraints, the foreign ministry said Friday. The government has vowed to increase its official development assistance (ODA) level to 0.25 percent of the country's gross national income (GNI) by 2015 as part of efforts to give back after receiving help from the international community to rebuild its economy following the 1950-53 Korean War. Under the plan set up in 2010, the government has annually inc

South Korean firms have increased the issuance of new shares through October from a year earlier, data showed Friday, due mainly to the falling demand for corporate bonds amid a series of liquidity crises.Local companies raised a combined 3.4 trillion won ($3.3 billion) through October from the stock market, surging 141.9 percent from the previous year, the data by Hyundai Securities Co. showed.The tallied companies raised 866.2 billion won through initial public offerings, and issuance of new s

Samsung Heavy Industries Co., a major shipbuilder of South Korea, said Friday it has obtained combined $300 million orders for three vessels. Under the deal with BW, a global shipping company, Samsung Heavy Industries will deliver a Liquefied Natural Gas Floating Storage Regasification Unit (LNG-FSRU) by 2016, the shipbuilder said. The South Korean firm said it also signed a contract with a European shipping company to provide two petrochemical carriers.The shipbuilder has won orders worth $12.6

Mexico's Congress voted Thursday to open the country's moribund state-run oil industry to foreign and domestic investors, casting aside nationalist opposition to approve the most dramatic energy reform in seven decades.The 353-134 vote will allow the government to give private companies contracts and licenses to explore and drill for oil and gas, deals now prohibited under Mexico's constitution.The final step, approval by 17 of Mexico's 31 states, is widely seen as assured.The state-run oil comp