The United Nations Security Council is expected to adopt a much-delayed resolution aimed at penalizing North Korea for its latest nuclear test next week as the US and China have narrowed their differences on proposed curbs on its coal exports, diplomatic sources said Wednesday."The US and China seem to have narrowed their gap pretty much on an effective and verifiable frame through which they will be able to regulate the North's coal exports," a source close to the matter told Yonhap News Agency

South Korean credit card companies posted a small increase in their net profits in the first nine months of 2016, undeterred by commission cuts, data showed Wednesday.They lowered the fee rates early this year for merchants with the annual sales of between 200 million won ($170,000) and 300 million won to 1.3 percent from 2 percent.The rates for smaller ones were halved to 0.8 percent amid the government's push for revitalizing the economy.There had been worries that card firms' profits could be

Samsung Electronics Co., the world's largest electronics maker, said Wednesday it has acquired NewNet Communication Technologies Inc. of Canada to bolster its mobile network service.NewNet Communication, based in Halifax, Nova Scotia, operates Rich Communications Services (RCS), an advanced messaging system for cell phones.Samsung said the acquisition reinforces its commitment to RCS as mobile networks transition to IP-based networks and services, without elaborating on details of the deal. "It

South Korea's defense ministry concluded a deal Wednesday to acquire a site for an advanced US missile defense system from Lotte Group. The Ministry of National Defense has agreed to secure the Lotte Skyhill Country Club in the southeastern rural county of Seongju from the country's fifth-largest conglomerate. The ministry will give state-owned military land near Seoul to Lotte in exchange for the golf course, the ministry said in a statement. It said an appraisal of the value of the two sites w

North Korea replaced its deputy ambassador to the United Nations from An Myong-hun to Kim In-ryong early this month, although An's term fell far short of that of his predecessors, a US broadcaster, monitored here, reported Wednesday. "The replacement is unusual as An's tenure was less than two years, compared with his predecessors' four to five years on average," the Radio Free Asia (RFA) said, citing a UN source. An was appointed to the post in December 2014.Kim's relations with the North Korea

South Korea's state financial watchdog said Wednesday it opened a "supervisory college" session here with its foreign counterparts from eight countries as part of efforts to strengthen partnerships.The Financial Supervisory Service has invited a dozen representatives from nine similar organizations in eight nations where Shinhan Bank, a major lender based in Seoul, is operating.The countries are Japan, China, Germany, India, Cambodia, Kazakhstan, Indonesia and the Philippines.The gathering, offi