The video-on-demand service is a fast-growing market for the pay TV industry, but opportunities are not going evenly to all operators, a report said Thursday.The report released by Korea Information Society Development Institute showed VOD sales growing yearly since 2014, expanding from 573.39 billion won ($507 million) that year to 650.78 billion won in 2015 and to 709.38 billion won in 2016. (Yonhap)But not all operators gained from the growing business, according to the report. Internet proto

South Korean stocks opened higher Thursday helped by foreign buying. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 5.52 points, or 0.23 percent, to 2,371.92 in the first 15 minutes of trading.Analysts expected the Seoul stock market to move in a tight range this week ahead of the US Federal Reserve's annual economic policy symposium in Jackson Hole, Wyoming. Large-cap stocks traded mixed across the board, with leading steelmaker POSCO rising

President Moon Jae-in's approval rating rose from a week earlier this week, a poll showed Thursday, despite the widespread public scare over contaminated eggs that forced the president to personally apologize.In a survey conducted by Realmeter at the request from local radio station tbs, 74.4 percent of all respondents said they approved the president's management of state affairs.The latest survey was conducted on Monday through Wednesday, and on 1,522 voters throughout the country. It had a co

Gold-related funds in South Korea have posted stellar returns over the past month, data showed Thursday, as geopolitical risks chilled the stock market and stoked investors' flight to safety.Those funds posted an average return of 3.49 percent in the month to Wednesday, the top performer among local investment funds worth 1 billion won ($880,000) or more, according to the data from financial information provider FnGuide.Comparable yields were 2.31 percent for exchange traded funds focused on ove

WASHINGTON -- The latest United States sanctions against North Korea could have the intended effect of disrupting its nuclear and ballistic missile programs, but only over time, a US expert said Wednesday.A day earlier, the US Treasury announced sanctions targeting Chinese and Russian entities and individuals suspected of facilitating the North's weapons programs.Robert Manning, a senior fellow at the Atlantic Council, said that although many argue that sanctions do not work, they are wrong beca

Overseas card spending by South Koreans hit a record high in the second quarter despite a decline in the number of people going overseas, the central bank said Thursday.In the April-June period, overseas card spending amounted to $4.18 billion, up 20.6 percent from a year earlier, according to the Bank of Korea. From a quarter earlier, the Q2 tally marked a 4-percent increase.Overseas card spending includes purchases made with debit and direct payment cards, in addition to credit cards. The hike

South Korea's finance chief said Wednesday that the government will examine steps to ease regulations to help offset the negative side effects of a looming corporate tax hike.Finance Minister Kim Dong-yeon made the comments during a session of the Special Committee on Budget and Accounts in parliament when asked about the possible fallout from more taxes on employment and growth.Still, Kim did not elaborate on deregulations. South Korea has been pushing to lift or ease unnecessary business restr

The government will conduct an investigation into chickens throughout the country after some chicken meat has been found to have more anthelmintic residue than the permissible level, the agricultural ministry said Wednesday.The Ministry of Agriculture, Food and Rural Affairs will conduct the inspection into whether any chickens carry dichloro-diphenyl-trichloroethane, the toxic pesticide that was banned nearly 40 years go. (Yonhap)So far, the investigation into chickens has only been conducted a

The combined investment rolled out by global chipmakers in the second quarter reached record-high levels fueled by efforts made by Samsung Electronics Co., data showed Thursday.According to industry tracker IC Insights, global chipmakers made a facility investment worth $23.5 billion in the April-June period. The total is the highest figure to date. (Yonhap)Over the first half, the companies made an investment worth $42.5 billion, rising 48 percent from $28.7 billion tallied a year earlier.The i

Leaders of South Korea and China exchanged congratulatory messages Thursday to mark the 25th anniversary of normalizing diplomatic ties between the two countries, the foreign ministry said. In the message, President Moon Jae-in assessed that their bilateral relations have seen significant advance and expressed hopes that the Seoul-Beijing ties that he cherishes will further develop into a "substantial" strategic cooperative one, according to the ministry.Chinese President Xi Jinping also said he

South Korea's whisky market, which has been contracting for eight years in a row, is showing some changes as buyers opt for low-proof products and brand diversity, industry watchers said Thursday.Scotch whisky over 40 proof had dominated the market, but is being replaced by those with weaker alcohol content, according to data. Sales of high-proof Scotch whisky fell 46 percent in the January-July period this year compared with the same period in 2014. Sales of low-proof whisky, however, surged 13

A remake album celebrating the 25th anniversary of groundbreaking Korean pop musician Seo Tai-ji's debut will be released next month, according to a record label Wednesday."Time: Traveler," an album consisting of covers of Seo's past catalogue, will come out on Sept. 2, Seo Tai-ji Company said. (Seo Taiji Company)The record will be a collection of songs produced by today's leading K-pop artists, including BTS, Suran, Younha and Heize. The numbers include "I Know," the breakout track for idol tri

Actors Bae Yong-joon and Park Soo-jin are expecting their second baby, some 10 months after the celebrity couple welcomed their first son, the two stars' agency said Wednesday.Keyeast Co. said Park is very early into the pregnancy so her due date hasn't been confirmed yet. (Bae Yong-joon`s Instagram)The two stars married in July 2015. (Yonhap)

South Korea will simultaneously pursue efforts to engage North Korea and denuclearize the country instead of choosing one over the other, President Moon Jae-in said Wednesday. "Efforts for denuclearizing North Korea and efforts for improving the South-North Korea relationship are not a matter of choosing one over the other. They should rather be pursued in a way that they make up for each other," Moon was quoted as saying during the foreign ministry's policy briefing session with him.His remarks

Prime Minister Lee Nak-yon met with Bulgaria's parliamentary speaker Wednesday and discussed ways to deepen substantial cooperation between the two countries and move their relations further forward, his office said.During the meeting with National Assembly President Dimitar Borisov Glavchev, Lee expressed hope that cooperation between the two countries will expand beyond trade and investment into areas of defense, energy and agriculture, according to a statement from Lee's office.Lee also said