The Ministry of Foreign Affairs and Trade will review the entire text of the Korean-language version of the Korea-EU Free Trade Agreement, and correct any errors found before the provisional session of the National Assembly scheduled to begin in April.“Review will take place over the next three weeks from today until the end of March,” Deputy Trade Minister Choi Seok-young said. “A temporary taskf

The world’s fourth largest steelmaker POSCO ranked highest among South Korean firms in the latest world’s most admired companies list from the U.S. business magazine Fortune.The rankings are based on an analysis of 667 companies from 32 nations that reviewed nine categories including financial stability, innovation and human resource management. With a score of 7.21, POSCO received the highest rat

Fresh off her first victory of the 2011 season, South Korean female golfer Park In-bee said she has her sight on a bigger goal.   "This year, I would like to be among the top 10 players of the world," Park said after winning the Daichi Orchid Ladies Golf Tournament in Okinawa over the weekend. It was the first event of the 2011 Japan LPGA Tour, and Park overcame a three-stroke deficit to win by th

President Lee Myung-bak said Monday that South Korea's military is diversifying its role and mission, from deterring war on the Korean Peninsula to peacekeeping, recovery and rescue work abroad."Our troops are emerging as a military that contributes to the world's peace beyond the protection of its fatherland and peace on the Korean Peninsula," Lee said in his biweekly radio address.He pointed out

President Lee Myung-bak is carefully considering using his veto power against a controversial revision to the political fund law passed by a parliamentary committee last week to practically legalize lobbying towards lawmakers, a ranking presidential aide said Monday.After failing to pass the revision through parliament due to strong opposition from the public at the end of last year, the National

Korean families’ spending on food rose to a record high last year due to surging prices of agricultural goods, government data showed Sunday. According to Statistics Korea, households’ average monthly expenditure on food came in at 602,604 won per month ($539) last year.Last year was the first time that the figure, which includes expenditure on groceries, beverages and eating out, rose above the 6

Volkswagen Korea is operating a free checkup campaign for the Phaeton and Passat sedans and the sport utility vehicle Touareg until March 25.During the period, owners of the three models registered before March 2008 can have their vehicles checked free of charge, and receive 10 percent discount on charges arising from any repairs that may be required.For more information, call Volkswagen customer