North Korea's media reported Monday on the weeklong reunions of hundreds of families separated by the 1950-53 Korean War.South and North Korea held the event in two rounds from Aug. 20-26 at Mount Kumgang, a scenic resort on the North's east coast. It is part of the promise their leaders mad
GS Group, a South Korean energy, retail and construction conglomerate, said Sunday it will invest 20 trillion won (US$17.8 billion) over the next five years to foster new growth businesses and expand its presence in overseas markets.GS Group said it will invest 14 trillion won to build new petrochem
South Korea's trade promotion agency said Sunday it will provide customized consulting services to beef up efforts to help small and medium-sized enterprises (SMEs) tap into overseas markets.The Korea Trade-Investment Promotion Agency (KOTRA) said it will increase the number of employees tasked
Elderly South Koreans headed back home Sunday after brief, emotional meetings with their long-lost kin residing in North Korea in the second round of the latest family reunions.More than 300 South Koreans, from 81 families, left the North's Mount Kumgang resort by bus at about 1:20 p.m., wrappin
South Korea's corporate watchdog said Sunday the number of conglomerate subsidiaries subject to inter-affiliate trading regulations is expected to triple under a new tighter asset standard.The Fair Trade Commission (FTC) said it will revise the antitrust law to ban inter-affiliate trading within
Lee Hae-chan, a staunch liberal and former prime minister, was elected the new chief of the ruling Democratic Party (DP) on Saturday on pledges of unwavering efforts toward national reforms and inter-Korean peace.The 66-year-old seven-term lawmaker won 42.88 percent of the vote, beating two rivals,
Tears streamed down the wrinkled face of Cho Jeong-gi as the 67-year-old South Korean met the North Korean father he has never seen."I am your first son, first son," Cho said in a trembling voice. "I had no idea I would be able to meet you."Cho was among hundreds of people from the two Koreas wh
The Bank of Korea (BOK) will likely maintain its policy rate at the current 1.5 percent next week as Asia's fourth-largest economy is struggling with sluggish employment and global trade disputes, a market watcher said Saturday.Chaired by Gov. Lee Ju-yeol, the seven-member panel of the BOK will
Friday, August 24, 2018Round-up of important news from major Korean, international dailies, other news sources today:The Korea Post media (www.koreapost.com) in English, (www.koreapost.co.kr) in Korean.Appeals court increases sentence for ousted leader Park by 1 year to 25 yearsA Seoul appellate cou
SK Innovation Co., South Korea's largest refiner by sales, said Friday it will invest in a 820 billion won (US$730 million) battery plant in China, a move aimed at meeting growing demand for car batteries. In a joint venture with BAIC Motor Corporation., Ltd. and Beijing Electroni
POSCO Engineering & Construction (POSCO E&C) said Friday it signed a 81.2 billion won (US$72.33 million) contract to lay the groundwork for a petrochemical complex in Vietnam. The South Korean builder will work on the 2.31 million-square-meter site on Long Son Island in the province o
Hyundai Motor Group, South Korea's biggest automotive conglomerate, said Friday it has created a new executive post to improve lackluster sales in China, the world's biggest automobile market.Hyundai named Vice Chairman Kwon Moon-sik, who is currently in charge of the carmaker's research
A Seoul appellate court on Friday increased the sentence for former President Park Geun-hye by one year in a massive corruption case that led to her removal from office.The Seoul High Court sentenced Park, 66, to 25 years in prison and ordered her to pay a 20 billion won (US$17.8 million) fine.She w
South Korea's terms of trade dropped at the fastest clip in nearly seven years last month as import prices rose sharply amid higher crude oil prices, central bank data showed Friday.The terms of trade index for products came to 92.94 last month, down 9.7 percent from a year earlier, according to
South Korea will propose to North Korea the withdrawal of guard posts in certain designated areas of the Demilitarized Zone (DMZ), rather than committing to reducing by an equal number of border facilities, its defense chief said Friday.Song Young-moo made the remarks amid concerns that, should the
U.S. Secretary of State Mike Pompeo said Thursday he will travel to North Korea again next week to continue negotiations on the dismantlement of Pyongyang's nuclear weapons program.Pompeo also announced the appointment of Ford Vice President Stephen Biegun as U.S. special representative for Nort
Thursday, August 23, 2018 The Tortoise and the Hare in Korea in the 21st century.This cartoon published by popular Korean-language newspaper, Joong-ang Ilbo, on Aug. 16, 2018, shows the ‘Hare’ (captioned ‘ruling Democratic Party’) taking a nap under a tree. In contrast, the Tortoise (opposit
Finance Minister Kim Dong-yeon said Thursday that the government will propose the largest job creation-centered budget next year that will benefit both the public and private sectors, as the nation's economy is struggling with employment problems.Kim, who made the remarks at a parliamentary budg
A second meeting between U.S. President Donald Trump and North Korean leader Kim Jong-un could give a boost to negotiations to dismantle the North's nuclear weapons program, a former U.S. intelligence official said Wednesday.Trump has dangled the possibility of a second summit following his land
U.S. President Donald Trump has said that he wants to lift sanctions on North Korea, but only after the regime gets rid of its nuclear weapons.Trump was speaking to his supporters at a rally in Charleston, West Virginia, late Tuesday, hours after the Treasury announced new sanctions targeting North