Korean stocks closed 1.07 percent higher on Friday as upbeat U.S. economic data eclipsed concerns over the eurozone debt crisis, analysts said. The local currency gathered ground against the U.S. dollar.The benchmark KOSPI jumped 19.73 points to 1,867.22. Trading volume was moderate at 459.1 million shares worth 4.25 trillion won ($3.7 billion), with gainers outnumbering decliners 584 to 248.“Positive U.S. job data and consumer sentiment index bolstered hopes on a strengthening U.S. economy and

83 years of the Salvation Army Red Kettle Campaign There are few surer signs that Christmas is upon us than when the familiar red kettles and bell chimes of the Salvation Army appear in the streets. Now in its 83rd year, the Salvation Army’s annual Red Kettle Campaign has long been one of the easiest ways to participate in philanthropy. All one has to do is toss spare change into the red kettle while passing by or secretly leave a larger amount of cash or item for the less fortunate. This year s

South Korea‘s government on Friday lifted an emergency standby order issued for all government officials after the death of North Korean leader Kim Jong-il because of concerns it could dampen domestic demand.Officials at agencies handling foreign affairs, security and policing will continue to remain on an emergency footing, senior presidential press secretary Choe Guem-nak said.The change was decided at a National Security Council meeting President Lee Myung-bak presided over.South Korea put al

WASHINGTON/HAWAII (Yonhap News) ― North Korea is likely to restart its typical nuclear gambit in the spring after digesting the death of its leader and taking time for the new power structure to solidify, according to a group of North Korea experts.The North may conduct another nuclear test this spring under a game plan crafted under Kim Jong-il before his death and expected to be carried out by his third son, Kim Jong-un, they said at forum hosted by the East-West Center in Honolulu.“I don’t th

UNITED NATIONS (AFP) -- The United States, Japan, South Korea and leading European nations on Thursday boycotted a minute of silence at the U.N. General Assembly demanded by North Korea for its late leader Kim Jong-il.The U.N. tribute was the highest profile international move sought yet by the North‘s government as it seeks global recognition for the hardline leader who died on Saturday at the age of 69.The awkward silence was a “protocol” move following a North Korean request, according to U.N

The National Assembly will likely pass by the end of the year a set of legislative measures aimed at advancing the parliamentary process, including a filibuster and measures to prevent violence on the floor, a ruling party leader said Friday. Rep. Hwang Woo-yea, the GNP’s floor leader, said his party has almost reached an agreement with the main opposition Democratic Unified Party regarding the handling of the measures. “Ruling and opposition lawmakers have almost reached an agreement regarding

From as early as next year, cough drops and pain killers will be sold at 24 hour-convenience stores while cigarette packaging will be labeled with images to discourage smoking, the Ministry of Health and Welfare said Friday. A day before the ministry’s report of next year’s plan to President Lee Myung-bak, the Korean Pharmaceutical Association said Thursday that its members will agree on sales of the so-called over-the-counter drugs at stores operated around-the-clock. “In order to ease public a

Chung Bong-ju, the former opposition lawmaker convicted of spreading false information about President Lee Myung-bak has asked the prosecution that he be jailed after Christmas. Opposition parties, who have blasted his conviction as a political gambit, threatened to protest should the prosecutors reject the offer. According to media reports, Chung’s solicitor on Friday morning requested the Seoul Central District Prosecutors’ Office that Chung, sentenced to one year in prison by the Supreme Cour

North Korea has said it would welcome a trip to Pyongyang by the chairwoman of South Korea’s Hyundai Group for the funeral of leader Kim Jong-il, government and company officials said Thursday.The move came after South Korea sent a sympathy message to the North Korean people over Kim’s demise and allowed civilians and private organizations to send messages of condolence to the North.South Korea also said it will allow Hyundai Group chairwoman Hyun Jeong-eun and the family of late South Korean Pr

The life sentence for a Somali pirate who hijacked a South Korean freighter and shot its captain early this year was upheld in the Supreme Court Thursday, denying his last appeal.The court upheld the ruling for Mahomed Arai’s, 21, the leader of five pirates captured on the hijacked ship, Samho Jewelry, for attempted murder, maritime robbery and six other offenses.The court also upheld the earlier sentences of 13 to 15 years for three others ― Abdikhad Iman Ali, Abdullah Ali and Aul Brallat ― for