South Korea was one of the smallest investors in families among member states of the Organization for Economic Cooperation and Development in 2013, a report showed Monday.The country allocated 1.13 percent of its gross domestic product to family benefits spending, and therefore ranks 32nd among 35 OECD member states surveyed, according to the OECD report.The family benefits cited by the report consist of public money allocated to enhance family units, including financial support that is exclusiv

An American remake of the South Korean TV series "Good Doctor" is poised to make its premier this month in the US, with the collective eyes of the Korean television industry fixed on whether the show can make a successful landing.The American adaptation of the show, titled "The Good Doctor," is scheduled to premier on Sept. 25 on ABC, according to the network and producers. The weekly show is the first remake of South Korean source material to get prime time treatment. (Sony Pictures Television)

South Korean tennis player Chung Hyeon has achieved a career high in the men's world rankings for the third time in a month.Chung moved up three spots to reach No. 44 in the Association of Tennis Professionals world rankings released Monday. Four weeks ago, Chung cracked the top 50 for the first time by sitting No. 49. Chung is the third-highest-ranked Asian player in men's singles. He is behind Japanese players Kei Nishikori (No. 14) and Yuichi Sugita (No. 42). In this photo taken by the Associ

South Korea's national football team head coach Shin Tae-yong said Monday his side will play attacking football in upcoming friendly matches for its preparations for the 2018 FIFA World Cup.South Korea clinched its ninth consecutive World Cup appearance last week after finishing runners-up in Group A in the final Asian qualifying round. In Asia, the top two teams each in Groups A and B directly advance to the World Cup in Russia, while third-placed teams have to enter a playoffs to earn a berth.

International Monetary Fund chief Christine Lagarde expressed optimism Monday about the future of the South Korean economy as she forecast Asia's fourth-largest economy to grow 3 percent this year.The assessment is in line with South Korea's growth outlook for 2017. In July, South Korea raised its target growth to 3 percent from 2.6 percent, citing export-led growth.She said the South Korean economy could also expand 3 percent growth in 2018."I believe the Korean economy is extremely resili

South Korea has been selected to host the general meeting of a United Nations-affiliated body on climate change next year, the government said Monday. The 48th Session of the Intergovernmental Panel on Climate Change will be held in the port city of Incheon, west of Seoul, in October 2018, according to the Korea Meteorological Administration.  The photo, filed on Oct. 14, 2010, captures a media session during the general meeting of the UN Intergovernmental Panel on Climate Change held in Busan,

President Moon Jae-in met with former UN Secretary-General Ban Ki-moon on Monday and discussed tensions with North Korea and other global issues, the presidential office Cheong Wa Dae said.The meeting came ahead of Moon's planned attendance in the upcoming meeting of the UN General Assembly.  President Moon Jae-in holds a meeting with former UN Secretary-General Ban Ki-moon on Sept. 11. (Yonhap)Noting that this year's session takes place in the middle of a grave security situation following the

South Korea's antitrust watchdog said Monday that it has decided to reject a commitment agreement request by Hyundai Mobis Co., the country's largest auto parts maker, which is suspected of abusing its market power.The company has been under investigation by the Fair Trade Commission for forcing its dealerships to meet an unreasonable sales target between January 2010 and November 2013, according to the watchdog. (Yonhap)In a commitment request filed in June, Hyundai Mobis said it will compensat

The nominee for the head of the Ministry of SMEs and Startups vowed Monday to cut back regulations on the tech industry to encourage companies to spearhead innovative technology and establish clusters for startups.Park Seong-jin made the pledge as he pitched his plans to lead the new ministry, which was created in July, to help small and medium-sized enterprises and startup companies."I will make every effort to revitalize innovative businesses and create a healthy environment for SMEs and ventu

South Korean firm LG Electronics Inc. said Monday that it would showcase its advanced auto-parts related technology at a motor show to be held in Germany this week.LG Electronics said it would show key auto parts to global automakers during the 2017 Frankfurt Motor Show to be held from Sept. 14 to 17.Since its first participation in the 2014 Beijing Motor Show, LG Electronics has been rolling out crucial auto parts at international motor shows.LG Electronics plans to showcase its AV navigation s

South Korean stocks traded higher late Monday morning, recouping last week's losses sparked by concerns over North Korea's nuclear provocations.The benchmark Korea Composite Stock Price Index gained 20.21 points, or 0.86 percent, to 2,363.93 as of 11:20 a.m.Tech shares continued to trade higher, with top cap Samsung Electronics advancing 2.12 percent. Chipmaker SK hynix climbed 1.1 percent, and flat panel maker LG Display moved up 1.42 percent.Auto shares were in negative train, with leading car

South Korea's plan to send a taekwondo demonstration team to North Korea-led championships in Pyongyang seems to have failed amid heightened tensions, Seoul's unification ministry said Monday.The Seoul-based World Taekwondo has been seeking to send its demonstration team to the North Korea-led International Taekwondo Federation's championships slated for Sept. 15-21 for performances at the opening ceremony.But the North's organizer reportedly notified the South Korean body that it is not proper

As labor unions and management remain in a deadlock, the labor disputes at South Korea's two major broadcasters are likely to continue for a while, industry watchers said Monday.The labor unions at KBS and MBC have started a sit-in since Sept. 4, calling for the removal of management accused of meddling in news coverage and unfair labor practices. The management, however, flatly rejected the demand and urged the workers on strike to get back to work.The major strike involving thousands of journa

The new chief of the Financial Supervisory Service said Monday he will set up an advisory body to enhance protection for consumers of financial products.Choe Heung-sik, former president of Hana Financial Group, was appointed governor of the FSS last week, replacing Zhin Woong-seob.In his inauguration speech, Choe said about half the members of the advisory body will come from civic organizations, universities and media organizations. Choe said he will encourage the FSS to pursue "consu

The ruling party leader on Monday reiterated her opposition to growing calls for South Korea's nuclear armament, saying North Korea's nuclear standoff must be settled through political and diplomatic means.Choo Mi-ae of the Democratic Party aligned her position with that of the government, as conservative parties doubled down on their demand for Seoul to explore nuclear options, such as the redeployment of US tactical nukes withdrawn from here in 1991."It is undesirable for us to be seen as havi