South Korea's major chemical companies will join forces to invest 10 trillion won ($8.84 billion) in upgrading an industrial complex on the west coast, the government said Thursday.Lotte Chemical Corp., S-Oil Corp. and Hanwha Total Petrochemical Co. signed a memorandum of understanding with the provincial government for the investment in the Daesan Petrochemical Complex, according to the Ministry of Trade, Industry and Energy.The complex, 130 kilometers southwest of Seoul, is home to around 50 c

South Korean securities companies were stingy with their donations in the first half of the year despite a jump in earnings, a market tracker said Thursday.According to data from financial information provider FnGuide, 12 brokerage houses donated a combined 4.3 billion won ($3.8 million) to local charities in the January-June period, down 18 percent from a year ago.In contrast, their combined net profit more than doubled to slightly over 1 trillion won over the cited period, driven by a bullish

South Korean stocks opened higher Thursday tracking overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index added 2.89 points, or 0.12 percent, to 2,363.07 in the first 15 minutes of trading. On Wednesday (local time), US stocks closed at fresh record highs, with the S&P 500 inching up 0.1 percent and the Dow gaining 0.2 percent.Most large caps on the Seoul bourse traded mixed, with tech shares leading the gain. Market bellwether Samsung Electronics added 0.85 per

Middle Eastern tourists accounted for more than 20 percent of big-spending foreign visitors to South Korea last year with their per-capita spending reaching over $16,000, a poll showed Thursday.The survey on the top 1 percent high-spending foreign tourists, taken by the Korea Culture & Tourism Institute, showed that 22 percent of them were from the United Arab Emirates, Saudi Arabia, Iran and other Middle Eastern countries.  (Yonhap)China came next with 17.2 percent, followed by the United State

South Korea's top steelmaker POSCO and leading chemicals manufacturer LG Chem have seen their market value surge during this year's stock rally driven by large caps, data showed Thursday.POSCO's market capitalization stood at 29.1 trillion won ($25.8 billion) as of Wednesday, ranking fourth among the top 30 companies listed on the local stock market and rising five notches from the end of last year, according to the data by the Korea Exchange.POSCO trails the No. 1 automaker and third-biggest-ca

Tottenham Hotspur's South Korean attacker Son Heung-min has scored his first goal of the season in his club's victory at a European club competition. Son, who started as left winger, netted the opening goal in the Spurs' 3-1 win over Borussia Dortmund in Group H match at the UEFA Champions League at Wembley Stadium in London on Wednesday (local time). The 25-year-old found the net with his left foot just four minutes after the kickoff.This was Son's first goal of the 2017-18 season. He has appea

WASHINGTON -- The United States will not give up on using diplomacy to persuade North Korea to give up its nuclear and ballistic missile programs, the State Department said Wednesday."Diplomacy, we will not give up on. That is still first and foremost, that is the preferred approach," Heather Nauert, department spokeswoman, said during a briefing with foreign reporters. US State Department Spokeswoman Heather Nauert. (AFP)She said the department is "realistic" but also "optimistic" that diplomac

NEW YORK -- China recently "condemned" North Korea for the first time on the United Nations stage, reflecting its growing frustration with its wayward ally, a diplomatic source said Wednesday.On Monday, the UN Security Council unanimously adopted new sanctions against North Korea for its sixth and most powerful nuclear test on Sept. 3. China, a veto-wielding council member, backed the resolution and its ambassador to the UN, Liu Jieyi, said his government "firmly opposes and strongly condemns" t

Fiat Chrysler Automobiles and Mercedes-Benz will recall over 4,000 vehicles sold in South Korea to replace faulty parts in air bags and seat belts, the transport ministry said Thursday. Fiat Chrysler must check 3,856 vehicles belonging to three models -- the Jeep Compass, Chrysler Sebring and Dodge Caliber -- over concerns that the air bag and seat belt pretensioners may not work correctly during an accident. The Italian carmaker is also recalling 288 Fiat Freemont SUVs to replace wires that cha

WASHINGTON -- North Korea's latest nuclear test demonstrated the country's progress in increasing the yields of its nuclear weapons, heightening the threat posed by its ballistic missiles, according to a US website monitoring the North.The website 38 North said it is significant that relevant agencies, such as the Comprehensive Test Ban Treaty Organization, revised upward their initial estimates of the seismic magnitude of North Korea's sixth nuclear test on Sept. 3 from 5.8 to 6.1. (Yonhap)"Thi

South Korea will keep the electricity reserve rate at 22 percent in 2031, the same estimated two years ago, as the government's push for renewable energy needs back up facilities for a stable power supply, a panel said Friday.A government working group to outline the power supply plan for2017-2030 said that it tentatively determined the reasonable electricity reserve rate at 22 percent in 2031.The detailed figure comes after the expert panel last month determined the reasonable electricity reser

Prosecutors investigating accounting fraud allegations at South Korea's sole aircraft manufacturer related to a helicopter project are broadening inquiries into new suspicions that the company may also have cooked the books in connection with a mammoth state project to build fighter jets locally, prosecution officials said Wednesday.The Seoul Central District Prosecutors' Office has been investigating the former chief and other officials at Korea Aerospace Industries Co. over allegations that th

(Yonhap)Rookie K-pop act Elris on Wednesday released its second EP record "Color Crush," expressing its ambition to win the year-end's rookie of the year award. "I really hope to win the rookie of the year award through our latest promotional activity," member Sohee said during a media showcase held at Yes24 MUV Hall in western Seoul.Elris isn't pulling any punches when it comes to the highly sought honor offered by major TV networks and music streaming services at the end of the year. The five-

South Korea's basketball governing body said Wednesday it will start the naturalization process for an American forward to boost the international competitiveness of its men's national team.The Korea Basketball Association said it has reached an agreement with the Korean Basketball League to seek special naturalization for Ricardo Ratliffe, who has been playing in South Korea since 2012. The 28-year-old American, who plays power forward or center for the Seoul Samsung Thunders, said in January h

South Korean wheelchair rugby player Park U-cheol has been named the International Paralympic Committee's Athlete of the Month for August, officials here said Wednesday.The Korea Paralympic Committee said that Park won the IPC's monthly award after receiving 61 percent of the votes, edging out other athletes, such as British canoeist Emma Wiggs and South African sprinter Ntando Mahlangu.  This photo, provided by the Korea Paralympic Committee on Sept. 13, 2017, shows wheelchair rugby player Park