The government is working on a bill that would require tobacco makers to disclose the harmful substances in their products in a bid to curb smoking.The Ministry of Health and Welfare said Wednesday that it also will come up with a roadmap for when and by how much to raise cigarette prices.Under the bill all tobacco makers would be required to notify consumers of the additives and other harmful substances contained in cigarettes. Currently, only major toxins such as tar and nicotine are listed on

Prosecutors said Tuesday they have launched an investigation into allegations that a former aide to the communications watchdog’s head received massive bribes from an operator of a local education institution, who is also suspected of embezzlement.The probe was opened to verify the allegations that the aide, surnamed Jeong, received nearly 200 million won ($173,800) from Kim Hak-in, the chairman of the board for Korea Broadcasting and Art School, a college-level vocational school focused on broa

Baesangmyun Brewery Co. has recently started exporting wine made with Korean blackberries ― called bokbunja ― to China.The company said Tuesday it clinched a contract worth 200 million won ($174,000) last month with Qingdao Hongbo Import & Export Co., a trading firm, to supply 60,000 bottles of the wine throughout this year. “The deal signifies the upbeat outlook for the Korean alcoholic beverage industry as China is emerging as one of the world’s biggest wine consumers, spurred by the rising in

GS Engineering & Construction Corp. aims to more than triple its sales and operating profit and secure 35 trillion won ($30.4 billion) in overseas orders by 2020 as part of its long-term roadmap to become a global player.Korea’s third-largest builder on Monday unveiled ambitious goals of making 27 trillion won in sales and 2 trillion won in operating profit by 2020, both up more than 330 percent from 2010. Its orders totaled 14 trillion won in 2010. The company said it will also boost internatio

Rising household debt and trouble-laden savings banks pose a threat to Korea’s financial sector, which has long been protected and pampered by government-led bailouts and injections of public funds, analysts said Tuesday. The country’s banks and other financial companies confront a toxic mix of slower global growth and the protracted sovereign debt crisis in Europe, a precarious situation that could potentially increase the chance of bankruptcies here. “Banks handle a lot of loan-related busines

South Korea’s foreign exchange reserves declined for a second consecutive month in December as a weaker euro and a softer pound reduced the conversion value of non-dollar assets, the central bank said Tuesday.The country’s foreign reserves reached $306.4 billion last month, down $2.23 billion from the previous month, according to the Bank of Korea. The December reading marked the second straight monthly decline since the foreign reserves hit $310.98 billion in October. “The biggest reason was th

With Europeans and Asians buying fewer $65,000 diamond necklaces and $10,000 amethyst earrings, Tiffany & Co. may be in for a less-than-glittering 2012. No U.S. luxury merchant is more exposed internationally. The world’s second largest jeweler generates almost half its sales outside of the Americas, up from 38 percent in 2006, according to data compiled by Bloomberg. Tiffany’s foreign sales are concentrated in Europe, which is facing a sovereign debt crisis, and Asia, where China’s growth is sl

Korea’s presidents may believe it grossly unfair that people tend to assess their performances by the number of scandals involving their families and close associates instead of their positive achievements in domestic and external affairs.President Lee Myung-bak’s approval rating now hovers around the 30 percent mark, the average figure of his predecessors in the final year of their five-year tenures. Any improprieties that are exposed in the months to come ― or the lack of them ― will mean he i

It was in 2007 that a newspaper picture showed a dozen young women in a Southeast Asian country standing in line before a couple men from Korea in what was described as a matchmaking session. By the time the picture was published here, the international marriage brokerage that resembles human trafficking had created anti-Korean sentiment in the countries from which many brides came to Korea.It took five long years to bring legislation to prohibit such indecent practices. A revision to the Law on

Taiwan is to cut Korean TV drama shows on a local TV station to encourage development of homegrown programs, the country’s national broadcasting regulator announced Tuesday.Gala Television (GTV), Taiwan’s TV channel dedicated in airing soap operas, will reduce the amount of Korean drama shows starting in June, upon the request of the Taiwanese National Communication Commission (NCC).Upon its requirement, the channel is obligated to broadcast domestic content for at least one hour between 6 p.m.

The Royal Asiatic Society’s Korea Branch is holding a book sale for its members until Feb. 29.Twenty books on Korean history and culture are available in the sale, with discounts of 50 percent or more. Some books are available for free with orders of 30,000 won or more. Other books not in the sale are also available from RASKB’s online bookshop.Orders can be collected from the society’s Jongno office or received by mail. Overseas mailing is available. For a complete list of the books available a