The Korea Communications Commission said on Wednesday that it is considering sanctioning terrestrial broadcasters and cable TV operators over the unprecedented halt of high definition broadcasting. Cable TV operators stopped airing the programs by terrestrial broadcasters MBC, KBS and SBS in high definition on Monday, forcing some 7.7 million viewers to watch lower-quality public broadcasts. With their talks on retransmission fees being stalled for more than a week, the KCC plans to meet represe

South Korea will transfer its technology for offshore drilling facilities to Mexico, a move that could open new opportunities for Seoul to take part in the latter’s future oil development projects, a state think tank said Wednesday.Under an agreement signed between the Korea Ocean Research & Development Institute and Mexico’s national petroleum institute IMP, KORDI will transfer its technology, including for floating drilling facilities, to the Mexican research center in the next three years.The

South Korean exports of gasoline, diesel and other petroleum products jumped 36.4 percent on-year last month on higher prices and growing overseas demand, the government said Wednesday.The country’s exports of petroleum products, in terms of volume, grew only 1.6 percent to 38.35 million barrels, but the value of its shipments jumped to $4.54 billion from $3.33 billion in the same month last year, according to the Ministry of Knowledge Economy.“Exports to other Asian countries increased with shi

STX Offshore & Shipbuilding Co., a South Korean shipbuilder, said Wednesday that it has won a 229 billion won ($201 million) order to build two frigates.Under the deal with the Defense Acquisition Program Administration, the country’s defense procurement agency, STX Offshore will deliver the vessels by the end of 2015.South Korea is planning to build 20 new frigates by 2020 under a naval buildup project code-named “FFX.” (Yonhap News)

South Korea will transfer its technology for offshore drilling facilities to Mexico, a move that could open new opportunities for Seoul to take part in the latter’s future oil development projects, a state think tank said Wednesday.Under an agreement signed between the Korea Ocean Research & Development Institute and Mexico’s national petroleum institute IMP, KORDI will transfer its technology, including for floating drilling facilities, to the Mexican research center in the next three years.The

South Korea will host a global forum of the Organization for Economic Cooperation and Development in 2012 that will discuss ways to improve the world economy, officials said Wednesday.The OECD Forum on Knowledge Economy will be held in September 2012, involving some 300 government officials, experts and business representatives from around the world, according to the country’s Ministry of Knowledge Economy.“The 2012 forum to be held in the country will focus on industrial development of Asian co

A local court on Tuesday rejected the prosecution’s request to arrest a man accused of assaulting Jongno Police Chief Park Geon-chan. The Seoul Central District Court said it was unclear whether Park was assaulted, and that the accused, identified by his family name Kim, had the right to defend himself from the accusations.Kim, 54, was apprehended on Nov. 27 after police film footage showed him grabbing Park’s cap and yelling at him around 9:30 p.m. during a rally against the ratification of the

BUSAN ― U.S. Secretary of State Hillary Clinton urged newly emerging countries to be “smart” when building a partnership with donor countries for development.“You need to be smart and sharp because donor countries can be interested more in extracting your resources than building your capacity,“ Clinton said during her speech at the opening ceremony of the Fourth High Level Forum on Aid Effectiveness in Busan on Wednesday.“Quick fixes will not produce sustainable growth.”Clinton’s other advice fo

A holiday party is to bring North Korean refugees, South Koreans and expats together in Seoul on Dec. 17. The party to be held from 12-3 p.m. at Tool Caf in Hongdae has been organized by PSCORE as a fund-raiser and awareness campaign for North Korean human rights. The 15,000 won entrance fee covers one free drink and three free holiday gifts for those attending. Cash collected at the event will help fund the organization’s education programs and other projects assisting refugees living in South

The ruling Grand National Party is expected to keep its leadership, despite heated arguments during the party’s renewal forum Tuesday.Chairman Rep. Hong Joon-pyo urged the party to focus on policy reforms and unity ahead of next year’s elections, but reform-inclined members blasted him for dismissing the possibility of resignation.The pro-Park Geun-hye group remained cautious. If Hong steps down it could bring the former chairwoman back to her post, regardless of her presidential plans.“We are i