State-led companies plan to spend over 30 trillion won (US$27 billion) in key leading sectors, such as autonomous driving, by 2022, thus creating an environment for private companies to seek innovative growth, the country's chief economic policymaker said Thursday."To boost innovative growth, s
Another automobile produced by German carmaker BMW 520d sedan caught fire while being driven on a local expressway on Thursday, further fueling safety concerns.Police said the vehicle caught fire at 11:47 a.m. in Gangwon Province in eastern South Korea.BMW Korea said late last month it will recall 1
Thursday, August 2, 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.S. Korea to hold foreign ministerial talks with China, Japan, RussiaSouth Korean Foreign Minister
The number of South Korean business groups' affiliates under tight restrictions on mutual investment and loan guarantees fell sharply in the May-July period, the country's corporate watchdog said Thursday.The Fair Trade Commission (FTC) said 2,057 firms were on its watch list as of end-July,
Repeated government efforts to prevent cheap, low-quality package tours to South Korea by Chinese tourists are being questioned again as the number of travelers from the neighboring country increases, industry watchers said Thursday.The tally for June from the Korea Tourism Organization showed the v
The United States Congress on Wednesday passed a defense authorization bill that restricts any drawdown of American troops in South Korea.The John S. McCain National Defense Authorization Act, which approves US$716 billion for defense in fiscal year 2019, passed the Senate by a vote of 87-10 after p
South Korean Foreign Minister Kang Kyung-wha will engage in a round of bilateral diplomacy in Singapore involving China, Japan and Russia later Thursday amid annual regional forums organized by the Association of Southeast Asian Nations (ASEAN), her ministry officials said.She plans to hold back-to-
Wednesday, August 1, 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.N. Korea's media report on inter-Korean military talksNorth Korea's media reported Wedne
Auto parts affiliates of Hyundai Motor Group suffered sales declines last year due mainly to their heavy reliance on Hyundai Motor Co. and Kia Motors Corp., an auto association said Wednesday.Hyundai Motor Group's parts affiliates such as Hyundai Mobis Co. and Hyundai-Wia Corp. didn't advanc
LG Electronics Inc. said Wednesday it has opened its first overseas research center devoted solely to the development of artificial intelligence (AI) technologies.The South Korean tech giant said the Toronto AI Lab in Canada will carry out various research through cooperation with the University of
South Korea's exports rebounded in July from the previous month's slight fall, largely due to a continued rise in outbound shipments of chips and petrochemical goods, government data showed Wednesday.Outbound shipments reached US$51.88 billion last month, up 6.2 percent from a year ago, acco
North Korea's media reported Wednesday on military talks the two Koreas held a day earlier to discuss measures to ease cross-border tension."The north-south general-level military talks took place at the 'House of Peace' in the south side portion of Panmunjom on Tuesday to implement the
Tuesday, July 31, 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.Pence credits Trump for return of troop remains from N. KoreaU.S. Vice President Mike Pence has lau
The two Koreas held general-grade military talks Tuesday to discuss measures to enforce the military part of their April summit agreement to reduce tensions and enhance cross-border ties.The meeting, the first one since June 14, took place at the Peace House, a South Korea-controlled building at the
Genji, Millennium Seoul Hilton’s Japanese restaurant, is pleased to offer wild eel, a Japanese delicacy, at Genji throughout the month of August. Available in a stellar eight-course extravaganza, the eel will be prepared teriyaki-style and will be served along other fine Japanese dishes. Some of the
By Vice Chairman Choe Nam-suk with Hillary KangAmbassador Myrat Mammetallyyev of the Republic of Turkmenistan in Seoul said, “In 2018, Turkmenistan will host the International Rally ‘Amul-Hazar 2018’ or ‘Turkmen Desert Race’ according to the International Classification, which has been registered in
U.S. Vice President Mike Pence has lauded President Donald Trump for securing the return of American troops' remains from North Korea.Pence, who is to attend a ceremony in Hawaii Wednesday to honor the 55 soldiers whose remains were transported out of North Korea last week, said he was moved by
Monday, July 30, 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.S. Korean medical team arrives in Laos to assist flood recoveryA South Korean medical team flew into
LG Electronics Inc. said Monday it has assisted in the construction of more than a hundred washrooms in Ethiopia in line with its charity efforts in the African country.The South Korean consumer electronics giant said it has provided equipment and materials for the construction of washrooms in a tow
South Korea's retail giant Lotte said Monday a new department in charge of the business group's online businesses is set to be launched this week as the conglomerate revs up efforts to cope with the rapid expansion of the country's online market.Earlier in May, Lotte unveiled the plan to