WASHINGTON -- On a mission to strengthen the South Korea-US alliance, Moon Jae-in’s maiden visit to the US as president began at a place which holds political and military significance. The first stop on his five-day trip was the memorial dedicated to the US veterans of the Battle of Chosin Reservoir during the 1950-53 Korean War. The battle, also known as Changjin Lake Campaign, raged from Nov. 27 to Dec. 13, 1950 and is considered one of the fiercest battles in the three-year conflict. On Nov.

An infuriated South Korean elderly man gave a flying kick to a young man occupying a priority seat on a bus, showed a viral photo on the internet. The photo has set off fierce debate on the issue of priority seats on Korean public transport across major online communities. “Noyakjaseok,” which translates to “seats for the elderly and the infirmed,” are intended for senior citizens as well as the handicapped, pregnant women, or anyone less able to stand. However, these seats are usually occupied

WASHINGTON -- The Moon Jae-in administration’s economic reform drive is aimed at aiding fair competition and creating a good environment for businesses, President Moon said Wednesday.Addressing business leaders accompanying him on a trip to the US, Moon said that his reform drive is aimed at improving conditions for both businesses and workers, contrary to the concerns raised by some. Moon is accompanied by 52 leaders of big and small businesses, including Hyundai Motor Group Vice Chairman Chung

WASHINGTON -- President Moon Jae-in kicked off his five-day trip to the US on Wednesday, stressing the importance of the Korea-US alliance and his intention to work closely with US President Donald Trump. As his first stop on the trip, Moon chose the recently unveiled monument for the Battle of Chosin Reservoir in Quantico, Virginia, in a move seemingly designed to put to rest concerns over the alliance. In a speech, Moon said the “Korea-US alliance was forged in the fires of war,” and that its

In order for inter-Korean dialogue to resume, North Korea should begin by freezing its nuclear program, President Moon Jae-in said Wednesday, suggesting an “action for action” approach to North Korea. Speaking aboard South Korea’s Air Force One headed for Washington, Moon said that although he seeks inter-Korean dialogue, Pyongyang must take actions to facilitate the outcome.President Moon Jae-in addresses the media aboard the flight to Washington DC on Wednesday. Yonhap“I think that Pyongyang s

President Moon Jae-in on Wednesday said that the Korea-US Free Trade Agreement is well balanced, but Seoul is open to economic talks if the US sees room to become “even more reciprocal.” Speaking to reporters on his flight to Washington, where he is set to hold a summit meeting with US President Donald Trump on Friday, Moon focused on the benefits the two countries reap from the deal.President Moon Jae-in addresses the media aboard the flight to Washington DC on Wednesday. Yonhap“(After the Kore

Samsung Electronics officially announced Wednesday that the company will build a home appliance factory with $380 million worth of investment in South Carolina, marking the company’s first major investment in the US since it relocated production facilities for US exports to Mexico in the early 1990s. The announcement was made during South Korean President Moon Jae-in’s visit to Washington for his first summit with US President Donald Trump. Yoon Boo-keun, president of the consumer electronics di

Devastating conflicts, violence and persecution in places like Syria and South Sudan led to a record high of 65.6 million people uprooted from their homes at the end of 2016, the UN said Monday.The number was 300,000 higher than the end of 2015 and more than 6 million higher than the end of 2014, according to a report published by the UN refugee agency.At the end of 2016, there were some 40.3 million internally displaced people in the world, down slightly from 40.8 million a year earlier, with S

South Korea needs to address chronic problems in its economic structure in order to achieve sustainability in economic reforms, including those of family-run business groups known as chaebol by the new government, experts voiced at a forum on Wednesday. Around 300 government officials including Deputy Prime Minister for Economic Affairs Kim Dong-yeon, executives of major businesses, and economic scholars gathered at the 2017 Herald Business 氣UP Forum, a business policy conference, held at the Fo

LONDON -- Federal Reserve Chair Janet Yellen relayed her hope that another repeat of the financial crisis will not occur "in our lifetimes."Addressing an audience at the British Academy in London on Tuesday, Yellen said the banking reforms put in place in recent years have made the financial system safer, and that the world should be able to avoid the type of devastating crisis that struck the global economy in 2008. US Fed Chair Janet Yellen speaks during a discussion with Lord Nicholas Stern,

South Korea’s third-largest conglomerate SK is on the path to becoming the second-biggest memory chip provider in the world, taking one step closer to acquiring a slice of Toshiba’s chipmaking unit. SK’s semiconductor business SK hynix and its three strategic partners -- US private equity firm Bain Capital, Development Bank of Japan and Innovation Network of Japan -- were picked by Toshiba as the preferred bidder in the sale of its lucrative memory chip business on June 21. SK hynix is set to pr

April is the cruelest month, so said poet TS Eliot. But one wit remarked that June marks the end of May. Who would have expected that British Prime Minister Theresa May would lose her majority in Parliament in the June election, which was supposed to strengthen her hand in negotiating Brexit with the European Union? This expectation reversal was as big a shock as Brexit or Trumpism. May may have found her Ides of March in June. In sharp contrast, unlike earlier in the year when everyone was worr