North Korea on Sunday rejected the statement by the United Nations Security Council condemning its recent ballistic missile launches, threatening to take "eventful action steps" in retaliation.In a foreign ministry spokesman's statement, Pyongyang accused the United States and its "followers" of posing threats to its dignity and right to existence at the UNSC."The US and its followers committed a serious hostile act of finding fault with the DPRK's measures for bolstering nuclear deterrence for

Cultural ministers of South Korea, China and Japan agreed Sunday to push for co-hosting various academic and cultural events timed for the Summer and Winter Olympics to be held in the three countries, Seoul officials said.South Korean Minister of Culture, Sports and Tourism Kim Jong-deok and his Chinese and Japanese counterparts reached the agreement at the end of a two-day meeting in this South Korean resort island of Jeju, they said.South Korea is the host nation of the 2018 PyeongChang Winter

South Koreans spent 2.03 trillion won ($1.82 billion) on a daily basis with their credit cards in the first half of the year, as they opted for a convenient payment tool, data showed Sunday.According to the data compiled by the Bank of Korea, the first-half tally marks the first time that credit card spending on a daily basis exceeded 2 trillion won, and represents a 12 percent rise from a year earlier.The figure includes spending by credit cards, debit cards and prepaid ones.By type, credit car

The state-run Korea Electric Power Corp. on Sunday said it has signed a deal to buy a US solar power plant, making inroads into the US electricity market.Under the deal with Cogentrix Energy Power Management, part of the Carlyle Group LP, KEPCO will buy a 30 megawatt solar power plant in Alamosa, Colorado.The deal is estimated at $34 million.KEPCO said it will be able to generate $230 million in sales over a 26-year period by selling electricity there. The Alamosa plant started its operations in

Imports of foreign cars in South Korea more than halved in July due to a large cut in sales of Volkswagen and Audi cars mired in the fake emissions scandal and the end of tax favors on car purchases, industry data showed Sunday.According to data from the Korea Automobile Manufacturers Association, a total of 17,897 foreign vehicles were imported into the country last month, down 51 percent from the previous month.By country, a total of 6,423 German cars were imported in July, sharply down 58 per

The number of employees in South Korea's financial industry has declined nearly 1 percent in the first six months of the year amid a protracted industrywide slump and subsequent restructuring moves, data showed Sunday.As of end-June, the number of employees at 117 major local financial companies -- including banks, and insurance, securities and card firms -- stood at 194,106, down 1,919, or 1 percent, from the end of last year, according to the data compiled by corporate researcher CEO Score.The

Local banks' credit exposure to cash-strapped Hanjin Shipping Co. is estimated at 1.02 trillion won ($915 million), but they have already set aside sufficient provisions against the loans, industry sources said Sunday.According to the sources, the state-run Korea Development Bank, KEB-Hana Bank and other banks extended a total of 1.02 trillion won to the country's No. 1 shipper.The main creditor, KDB, has credit exposure of 660 billion won, followed by KEB-Hana Bank with 89 billion won, NH Nongh