Korea Electric Power Corp., the state-run public utility firm, signed on as a corporate sponsor for the 2018 PyeongChang Winter Olympics on Wednesday.KEPCO is the first public corporation to lend support to PyeongChang 2018.As a "Tier One" partner, KEPCO reserves a wide range of marketing rights, including the use of intellectual property and the use of PyeongChang's logo in their advertising campaigns.The organizing committee for PyeongChang declined to disclose the amount of the sponsorship co

IKSAN -- Police said Wednesday they have arrested two members of a six-man theft ring accused of having dug a 40-meter tunnel in South Korea's central province of North Chungcheong for more than one month to pilfer oil from an underground pipeline. The Iksan Police Station in southwestern South Korea also booked an accomplice and the owner of a gas station involved in the alleged distribution of stolen oil without physical detention.The gang, including its leader surnamed Lee, met at a warehouse

South Korea's military found a dead body presumed to be that of a North Korean citizen in waters near the western front-line island earlier this month, Seoul's unification ministry said Wednesday.The body of a woman believed to be in her 40s was retrieved on Aug. 11 in waters off Yeonpyeong Island, according to the Ministry of Unification. Baik Tae-hyun (Yonhap)"The government decided to repatriate the body to North Korea as a probe showed that she is presumed to be a North Korean citizen," Baik

Samsung Electronics Co. said Wednesday it introduced three buses equipped with IT facilities in Myanmar to provide underprivileged children with educational programs.The South Korean tech giant first introduced "Samsung Mobile Education Bus" in Myanmar in 2015. The company said the new buses are equipped with a class room as well as kitchen facilities. (Yonhap)Samsung said the program aims to visit children in Myanmar who have limited access to educational opportunities.Using the buses, Samsung

Pyongyang, the capital of North Korea, plans to launch a new annual international marathon in October this year in addition to an existing one held in April, a tour agency said, as the North is struggling to earn more foreign currency in the face of mounting international sanctions.Uri Tours, which operates from the United States and China with a specialty in North Korean travel, said on its website, seen on Wednesday, that foreign runners are invited to sign up for the new Pyongyang marathon sl

New South Korean football head coach Shin Tae-yong wants his team to play a "tiki-taka" style of football, as he aims to speed up the game with quick passing and movement.Shin, who succeeded Uli Stielike last month, opened camp at the National Football Center in Paju, north of Seoul, on Monday for South Korea's last two matches in the final Asian qualifying round for the 2018 FIFA World Cup. The Taeguk Warriors, currently second in Group A, the last automatic qualification spot, are scheduled to

President Moon Jae-in ordered his defense chief Wednesday to launch a special probe into a military crackdown against the 1980 pro-democracy protests in Gwangju, specifically to verify whether the then military junta considered a possible air strike."President Moon today ordered Defense Minister Song Young-moo to launch a special probe regarding recent media reports that an order had been delivered to put Air Force fighter jets on standby for a sortie toward Gwangju and that (military) helicopte

South Korea is not considering reopening the joint industrial park in North Korea's Kaesong, at least for now, the presidential office Cheong Wa Dae said Wednesday, dismissing news reports that suggested the possibility."We want to clarify the issue because it may send a wrong message not only to our people but also those in other countries," a Cheong Wa Dae official told reporters.The reports followed a Monday meeting between South Korean President Moon Jae-in and a group of US lawmakers, inclu

LG Electronics Inc. said Wednesday it will release its premium home appliances in more overseas markets, starting with the United Arab Emirates and Australia this month.The South Korean tech giant said the Signature home appliances will reach out to Russia in September and Italy in October as well, eventually to around 10 new countries by the end of this year. (Yonhap)In line with the move, LG said it hosted a showcase event in Dubai on Tuesday, inviting business partners to promote high-end fea

UIJEONGBU -- Former Prime Minister Han Myeong-sook was released from prison early Wednesday after finishing up a two-year sentence for taking an illegal political donation.Han, prime minister from 2006 to 2007, was put behind bars in 2015 after the Supreme Court convicted her of accepting about 900 million won ($793,301) in illegal political funds from the head of a local construction company. The conviction also stripped her of her parliamentary seat.On Wednesday, dozens of supporters and well-

The number of heavy debtors in South Korea stood at about 3.9 million people in June, a report showed Wednesday, reflecting growing potential for default risks among desperate borrowers. The number of debtors who have borrowed money from more than three financial institutions has been on a steady rise. It stood at 3.38 million in 2013, 3.47 million in 2014 and 3.65 million in 2015.According to the report from the office of National Assembly Speaker Chung Sye-kyun, the combined debt of the "

South Korean retailers are lowering the prices of their egg products amid a decline in demand due to safety concerns sparked after eggs from local farms were found to be contaminated with banned chemicals, industry sources said Wednesday.E-Mart Inc., the country's largest discount store chain operator, said a carton of 30 eggs will be cut by 500 won ($0.44) to 6,480 won. Homeplus Co., another hypermarket chain operator, also said it will lower the price of a carton of 30 eggs to 6,980 won from 7

South Korean stocks opened higher Wednesday tracking overnight gains on Wall Street. The Korean won rose against the US dollar.  The benchmark Korea Composite Stock Price Index rose 12.22 points, or 0.52 percent, to 2,367.22 in the first 15 minutes of trading.On Tuesday (US time) The Dow Jones industrial average rose 0.90 percent to 21,899.89 and the tech-heavy NASDAQ climbed 1.36 percent to 6,297.48.  Analysts expected the Seoul stock market to move in a tight range as investors find

South Korea's main stock market has seen a surge in the number of listed financial companies over the past decade, with the minor bourse posting a sharp rise in listings of chipmakers and pharmaceutical firms, data showed Wednesday.According to the data by the Korea Exchange, financial companies listed on the country's major bourse numbered 116 as of the end of July, up 59 from 10 years earlier and the largest among all industrial sectors.  The number of companies traded on the major KOSPI

South Korean wrestler Ryu Han-su has claimed a gold medal at the world championships, as he washed away his painful memories of last year's Olympics.Ryu topped the men's Greco-Roman 66 kilograms at the 2017 World Wrestling Championships in Paris on Tuesday (local time) after beating Mateusz Bernatek of Poland 2-1 in the final. This was Ryu's second gold medal at the worlds after earning his first one in 2013. In 2015, he settled for silver."When I first became a (world) champion, it seemed unrea