The Grand National Party is sinking further into turmoil after reformist members threatened to leave if the party did not disband and start anew, possibly without President Lee Myung-bak. In their meeting Tuesday, lawmakers of the conservative ruling group debated how far they should push reforms to win back the public’s confidence ahead of two crucial elections next year.The discord came a day after they agreed to ask Park Geun-hye, the party’s former chairwoman, to lead them out of the politic

Diplomatic row over deadly incident feared amid growing public outragePresident Lee Myung-bak on Tuesday instructed his government to draw up “strong and effective measures” to prevent a recurrence of Monday’s violent clash with illegal Chinese fishermen that killed a Korea Coast Guard officer.The instruction came amid mounting calls for Seoul to sternly handle the incident, which observers said could escalate into a diplomatic row ahead of the 20th anniversary of South Korea-China diplomatic r

The Korean government on Monday awarded 31 people, including four foreigners, for their special contributions in helping Korea boost exports, days after the country logged more than $1 trillion in annual trade for the first time.On top of the list of awardees was Scotsman William John Duncan, a shipbuilding engineer who provided technical assistance to Hyundai Heavy Industries in the 1970s.The late Duncan was awarded the Gold Tower Order of Industrial Service Merit for his contributions to the K

The main opposition Democratic Party finally confirmed its unification with other liberal groups late on Sunday but faces in-party feuding and a possible legal dispute over the voting process.The party held a provisional national convention Sunday to confirm the plan to merge with the civic group-based Citizen Integration Party and integrate left-wing forces including the Korea Federation of Trade Unions.The results of the vote were delayed for hours amid violent protests against consolidation a

The ruling Grand National Party, reeling from a collapse of leadership, by-election defeats and a devastating hacking scandal, is betting on former chairwoman Park Geun-hye to reverse its fortunes ahead of crucial elections next year. Yet, the crisis-ridden party was embroiled in a factional struggle Monday over the issue of how much power Park should be given as interim chief. Nearly 30 senior members of the conservative group decided in a meeting earlier in the day that they need Park to lead

GDP outlook for 2012  lowered to 3.7%, inflation   projected to ease to 3.2%The government slashed its growth forecast for this year and next, backing off from its ambitious growth plan due to weakening consumption and persistent risk stemming from slumps in major economies, the Finance Ministry said Monday.In a downbeat assessment of Asia’s fourth-largest economy, it said the economy will grow 3.7 percent in 2012, down from its 4.5 percent projection in June, the ministry said in its 2012 econo

The Obama administration’s foreign policy “pivot” toward Asia from the Middle East has drawn attention here as many wonder about its implications for the Korean Peninsula.Some painted a sanguine picture, saying that Seoul’s relations with Washington will deepen and broaden while others expressed concerns that Seoul will be further stuck between the “two whales” amid worsened Sino-American relations. U.S. Secretary of State Hilary Clinton recently said that the U.S. is pivoting towards the area a

Consultations taking longer than expected; report predicts February implementationKorea’s Foreign Minister Kim Sung-hwan said the implementation of the free trade agreement between South Korea and the U.S. could be delayed until after Jan. 1, as further consultations with the U.S. may be needed.“Although we hope to have the Korea-U.S. FTA take effect on Jan. 1 next year, it might take a longer time for consultations on the implementation,” Kim told business leaders at a CEO forum in Seoul. “If t