The Finance Ministry on Tuesday reiterated that the inflation fight is its top priority for the coming months, even as it sees growth slowing further from external risks and weak consumer sentiment.Its report to the National Assembly said it aims to keep inflation in the low 3-percent range, a challenging task given the worries about higher oil prices that are driving price expectations higher.“Price stability is our policy priority for this year also. Measures will target making the low-income

South Korea on Tuesday denied a media report that some U.S. marines stationed in Japan may be redeployed to the South on a rotational basis, as Washington and Tokyo consider transferring thousands of American forces from Okinawa to other regions. An unspecified number of U.S. marines on Okinawa is likely to be transferred to South Korea under a plan whereby the U.S. redeploys some marines from the Japanese island to other nations, the Chosun Ilbo newspaper reported earlier in the day, citing a S

Moon Jae-in, a surging presidential candidate of the liberal opposition, aims to prove his mettle in Busan.He is running for a parliamentary seat there in the port city where no liberal politician, even the former President Roh Moo-hyun, has won. Moon, a lifelong friend and aide to Roh and now head of a foundation named after the late liberal leader, has registered his candidacy for the April 11 general election in a constituency of Sasang, a industrial district in the southern port city. At sta

The leader of a South Korean civilian group has said it would push ahead with a plan to meet its North Korean counterpart in China, despite the South Korean government’s disapproval.The South Side Committee for Implementing the June 15 Joint Declaration plans to meet the North Side Committee on Feb. 9-10 in Shenyang, China to discuss events to celebrate the 12th anniversary of the declaration, which was adopted at the first inter-Korean summit in 2000.However, the Unification Ministry in charge

The Korea Military Academy and the U.S. Military Academy at West Point will introduce a professor-exchange program, official here said Tuesday.According to the Korean Army, the Korea Military Academy chief Lt. Gen. Park Jong-sun and West Point superintendent U.S. Army Lt. Gen. David H. Huntoon agreed to the program in January, and the two institutions plan to sign a memorandum of understanding on the issue following approval from the U.S. Department of Defense. Park and Huntoon agreed to the pro

The Ministry of National Defense said Tuesday that it would screen all smartphone applications and renew the blacklist of pro-North Korean or anti-government mobile apps.It will be the first full-scale crackdown by military authorities on smartphone programs. The ministry said it would base its list on the Korea Telecommunications Commission’s guidelines. It will either have to find technological methods to block soldiers from accessing such applications or forcibly delete the applications from

City’s decision comes as former president has yet to pay provincial taxesSeoul City has notified the police that it will stop lending the land used for the staff guarding the Seoul home of former President Chun Doo-hwan, citing reasons including his unpaid provincial taxes.Since the notification to the Seoul Metropolitan Police Agency on Monday, criticism has surfaced over his failure to pay taxes and the amount of state money spent on protecting his residence.The police security staff for Chun,

Finance Minister Bahk Jae-wan said Tuesday that the government is cautious about the ruling party’s proposal to impose a new capital gains tax on profits from stock transactions, out of concern over potential negative impact on foreign investments in the local bourse. The minister made the remark at a parliamentary meeting as the ruling party is pushing to revise the current taxation system to impose taxes on stock gains and increase taxes on the wealthy as part of efforts to woo voters unhappy

The trade volume between South Korea and the European Union increased 3.9 percent on-year over the six months after their bilateral free trade agreement took effect in July, the Trade Ministry said Tuesday.Korea saw its trade surplus with the world’s largest economic bloc, however, sharply narrow to $740 million from $6.92 billion over the cited period, the ministry said, without disclosing the value of bilateral trade.According to the ministry, the sharp decline in Seoul’s trade surplus with th

Korean stocks closed 0.43 percent higher Tuesday on eased concerns over Greek debt problems, analysts said. The local currency gained against the U.S. dollar.Moving in a tight range, the benchmark Korea Composite Stock Price Index gained 8.46 points to 1,981.59. Trading volume was heavy at 532.5 million shares worth 6.50 trillion won ($5.81 billion) with gainers outstripping losers 447 to 393. “Investors are taking a wait-and-see approach. Investor angst was offset by anticipation that the debt