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Park names audit and health chiefs

PoliticsOct 25, 2013

President Park Geun-hye on Friday tapped judge Hwang Chan-hyun and Korea Development Institute researcher Moon Hyung-pyo to head the Board of Audit and Inspection, and the Ministry of Health and Welfare, respectively. Hwang and Moon will need to undergo parliamentary hearings before taking office. In addition, chief of Hanyang University’s College of Performing Arts and Sport Kim Chong was named Deputy Minister of Culture, Sports and Tourism.Hwang, the chief of the Seoul Central District Court a
Seoul shares down 0.6 pct on weak eurzone data

Oct 25, 2013

South Korean stocks fell 0.6 percent Friday due mainly to weak data from the eurozone which sparked concerns over economic turmoil in advanced countries, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) declined 12.3 points to finish at 2034.39. Trading volume was low at 230 million shares worth 3.95 trillion won ($3.72 billion), with losers outpacing gainers 470 to 318.Analysts said Seoul shares lost ground as a weak economic
NIS agents use ruling party press releases on tweets: prosecution

PoliticsOct 25, 2013

The prosecution said Friday it has found evidence that agents of the state spy agency quoted press releases of the ruling party to post Twitter messages ahead of last year's presidential election.The National Intelligence Service (NIS) has been probed over allegations that it launched an online smear campaign to sway public opinion in favor of President Park Geun-hye, the then ruling Saenuri Party's candidate, ahead of the December election.The episode has already resulted in the arrest of forme
China court upholds Bo Xilai conviction, life term

World NewsOct 25, 2013

A court on Friday upheld ousted politician Bo Xilai's conviction and life sentence for corruption and abuse of power in the final decision of one of China's most politically charged trials in decades. The denial of Bo's appeal by the Shandong Provincial Higher People's Court came as no surprise, with many political analysts saying such an outcome was predetermined by Communist Party leaders keen to put Bo away long enough to prevent him from making a comeback. Bo, a former Politburo member and p
Seoul City eyes world's No. 5 tourist attraction by 2018

Social affairsOct 25, 2013

Seoul City said Friday it plans to diversify its tourism programs and boost infrastructure investment as part of its efforts to become the world's fifth most-visited city by 2018.Under a five-year plan, the South Korean capital city aims to attract 20 million visitors a year by 2018. In 2012, more than 10 million foreigners visited Seoul, making it the world's 11th most-visited city, according to government data."More efforts will be made to transform the city into a perfect model place for bot
Seoul shares down 0.83 pct in late-morning trade

Oct 25, 2013

South Korean stocks traded 0.83 percent lower late Friday morning, dented by losses in large-cap shipyard and chemical companies, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) fell 16.91 points to 2,029.78 as of 11:20 a.m.Blue-chip shipyard and chemical makers lost ground. Hyundai Heavy Industries, the world's biggest shipyard, slumped more than 3 percent, with LG Chem dipping 2.6 percent. But auto shares trended bullish. Hyundai Motor was up nearly 2 percent, with its a
N. Korea sends back six South Korean men

North KoreaOct 25, 2013

North Korea on Friday returned home six South Koreans, who had been held in the reclusive state apparently since early 2010, via the inter-Korean border village of Panmunjeom.The six men, aged between 27 and 67, walked past the military demarcation line running through the village at around 4:50 p.m., some 20 minutes later than they were set to return here.They are presumed to have been caught crossing the border between the North and China, Seoul officials believe.Investigators from the militar
N. Korean diplomat based in Ethiopia defects to S. Korea: sources

North KoreaOct 25, 2013

A North Korean diplomat based in Ethiopia defected to Seoul in August after seeking asylum at the South Korean Embassy in the African country, multiple sources said Friday.The North Korean man, whose identity is unknown, stormed into the South Korean embassy in Addis Ababa, asking for help for his defection to the South, they said."At that time, he worked for the North Korean office of the trade representative in Ethiopia ... I've learned that he is not a senior official, though," one source sai
FC Seoul seeks first AFC Champions League crown vs. Guangzhou

SoccerOct 25, 2013

FC Seoul will compete for its first-ever AFC Champions League football crown against a surging rival from China starting on Saturday.FC Seoul, the reigning South Korean league champ, will host Guangzhou Evergrande, the Chinese Super League's title holder from 2011 to 2013, at 7:30 p.m. Saturday at Seoul World Cup Stadium in the opening match of the two-leg final at Asia's premier club competition.The second leg will be in Guangzhou on Nov. 9, and the aggregate score after the two contests will d
S. Korea ranks 111th in gender equality: WEF report

Social affairsOct 25, 2013

South Korea ranked among the lowest in terms of gender equality as women's economic participation, health and education conditions remained poor, an international organization's report showed Friday.According to the report by the World Economic Forum (WEF), South Korea came in at 111th place out of 136 countries on the "gender gap index," which is three notches lower than a year earlier.The report is based on its analysis of women's economic participation, level of education, health and politica
Japan consumer prices rise for 4th straight month

World BusinessOct 25, 2013

Japan's consumer prices rose in September for the fourth straight month, boosted mainly by higher energy costs, in the latest set of data showing fitful progress toward revitalizing the economy.The core consumer price index, which excludes food, was up 0.7 percent compared with 0.8 percent in August, the Management and Coordination Agency said. With food prices factored in, the index was up 1.1 percent.The government is striving to end a long bout of deflation through aggressive monetary easing
Twitter sets $17 to $20 per share range for IPO

World BusinessOct 25, 2013

Twitter has set a price range of $17 to $20 per share for its initial public offering and says it could raise as much as $1.6 billion in the process. The pricing is relatively conservative considering that Twitter is poised to pull off the year's hottest IPO.Twitter Inc. said in a regulatory filing Thursday that it will put forth 70 million shares in the offering. If all the shares are sold, the underwriters can buy another 10.5 million shares.At the $20 share price, Twitter's market value would
Merkel: U.S. spying has shattered allies' trust

World NewsOct 25, 2013

European leaders united in anger as they attended a summit overshadowed by reports of widespread U.S. spying on its allies _ allegations German Chancellor Angela Merkel said had shattered trust in the Obama administration and undermined the crucial trans-Atlantic relationship. The latest revelations that the U.S. National Security Agency swept up more than 70 million phone records in France and may have tapped Merkel's own cellphone brought denunciations from the French and German governments.
Mexico candy factory blast injures 40, 20 missing

World NewsOct 25, 2013

A huge blast rocked a US-owned candy factory in northern Mexico on Thursday, injuring more than 40 people and leaving 20 more missing, officials said.Hundreds of people were working at the Blueberry factory when the explosion ripped through the building in Ciudad Juarez, a city bordering the US state of Texas, officials said.Smoke billowed from the building, located in an industrial park, while a side wall collapsed following the early afternoon blast, an AFP correspondent said."We are searching
Microsoft 1Q profit, sales top views; shares jump

World BusinessOct 25, 2013

Microsoft posted quarterly revenue and earnings Thursday that easily topped Wall Street forecasts, marking a healthy start to a companywide overhaul it announced in July that should help the software giant transform into a devices and services company.Its stock rose nearly 6 percent in after-hours trading.“Our devices and services transformation is progressing,” CEO Steve Ballmer said in a statement with the company's fiscal first-quarter results. Ballmer said in August he'll step down within 12