World's largest K-pop festival kicks off in Changwon

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[Photo News] Park meets softbank chief

South Korean President Park Geun-hye (right) meets Masayoshi Son, the chairman of Japanese telecommunications giant SoftBank Corp., to discuss bilateral cooperation on investments and new industries a...

Updated : 2016.09.30 16:04

Gov't urges Seoul to adopt performance-based wage system

The South Korean government on Friday urged Seoul city to adopt a performance-based wage system for the organizations under it, adding the change is necessary to make public bodies more competitive.Th...

Updated : 2016.09.30 14:46

Some 670,000 households unable to pay electricity bill: report

Some 670,000 households were unable to pay their electricity bill this year as of July, a report from the state energy supplier showed Friday, a tally that may increase after record summer heat is est...

Updated : 2016.09.30 10:03

Nationwide strikes weigh on economy

Strikes by railway and subway workers as well as Hyundai Motor workers are taking a further toll on the nation‘s economy, already suffering from continued low growth in the wake of weak consumption a...

Updated : 2016.09.29 16:29

Extreme caution prevails toward anti-graft law

Public servants in South Korea are behaving extremely carefully to avoid violating the newly implemented anti-corruption law. The Improper Solicitation and Graft Act that went into force Wednesday is ...

Updated : 2016.09.29 16:25

'Korea Sale Festa' kicks off with huge discounts from retailers

South Korea kicked off a nationwide shopping event on Thursday with a variety of promotions, cultural and entertainment events to draw more shoppers at home and abroad and revive the sluggish domestic consumption.The massive shopping campaign called "Korea Sale Festa" runs until Oct. 9, in...

Updated : 2016.09.29 14:07

Seoul may intervene in Hyundai Motor strike

The South Korean government is considering intervening in Hyundai Motor’s labor strike, as a new wave of labor actions might put more stress on the country’s already-slowing economy. “Given its imp...

Updated : 2016.09.28 17:00

Seoul expects 250,000 Chinese tourists in early Oct.

The Seoul Metropolitan Government said Wednesday around 250,000 tourists are set to visit the city in early October thanks to China celebrating a key holiday, stressing every effort will be made to offer various programs to welcome the visitors.Seoul said it will operate visitors' centers ...

Updated : 2016.09.28 15:40

Korean households' excess funds shrink in Q2

Excess funds held by South Korean households fell sharply in the second quarter due to increased spending and debt repayment, while local companies saw their shortage of funds dwindle, central bank data showed Wednesday.Excess funds held by local households, including nonprofit organizatio...

Updated : 2016.09.28 14:26

Creative economy online platform brings 30 bln won revenue

Nearly 30 billion won ($27 million) in revenue was generated from an online platform to commercialize creative ideas in the past three years, the science ministry said Wednesday.In September 2013, the government launched the website, "creative economy town," that invites anyone to post and...

Updated : 2016.09.28 14:24

Anti-graft law officially sets sail in Korea

A much-debated anti-graft law has officially kicked off in South Korea, calling for workers in certain sectors who should maintain higher ethical standards to refrain from receiving any gift priced beyond a legal ceiling.Under the Kim Young-ran Law, people working for the government, media...

Updated : 2016.09.28 10:23

[Monitor] Cancer still biggest cause of death in Korea in 2015

Cancer remained the leading cause of death in South Korea in 2015, with fatalities from pneumonia rising sharply amid a rapidly aging population, government data showed Tuesday. A total of 76,855 peop...

Updated : 2016.09.27 17:59

Over 60% of content creators say business in China hurt by THAAD

South Korea's decision to deploy a US advanced missile defense system, which faced severe opposition from China, has turned out to have dealt a blow to the business of some of the country's cultural content creators, a survey showed Monday.In the survey, conducted Sunday by the office of l...

Updated : 2016.09.26 11:40

[Monitor] India replaces S. Korea as world's No. 5 automaker

India overtook South Korea as the world’s fifth largest producer of automobiles in the first seven months of this year, industry data showed Sunday. It is the first time in 12 years that South Korea ...

Updated : 2016.09.25 18:14

Economy headed for a long tunnel of low growth

Deteriorations in jobs and other recent economic data are stoking fears of a crisis in South Korea, but experts say the economy is more likely to enter a long and gradual spiral downward, rather than ...

Updated : 2016.09.25 16:23