[THE INVESTOR] Recent government data sounded the alarm on the need for South Korea to urgently brace itself for a rapidly aging society. Statistics Korea said that the number of citizens aged 100 or older had surged 72 percent from 2010. The figure showed that 3,159 centenarians were living in the country as of November 2015, up from the 1,835 five years earlier.As life expectancy gets longer steadily, 13.1 percent of South Korea’s 50.6 million population were 65 or older in 2015, said the stat

[THE INVESTOR] South Korea’s minimum wage per hour for next year has been set at 6,470 won ($5.70), a growth of 7.3 percent from the current 6,030 won. The new minimum wage translates to 1.35 million won per month for employees who work full time.Opposition lawmakers expressed their regret over the decision. The main opposition said the increase should have been at least a two-digit percentage. The runner-up opposition claimed the increase is far short of the level that can narrow the current in

[THE INVESTOR] Samsung Electronics is drawing close attention in the capital market as its stock prices have risen 8.4 percent over the past three weeks since the impact of the Brexit referendum hit the KOSPI. It closed at 1.518 million won ($1,337) last Friday, compared with 1.4 million won on June 24.Its share price growth over the past two months was more noteworthy, gaining 21.6 percent from 1.248 million won on May 16.Samsung Electronics shares have reached their highest point in three year

[THE INVESTOR] A year ago, the government publicized its plan to create more than 200,000 jobs for those aged between 15 and 34 by 2017 in collaboration with six major business associations.Besides that, over the past few years, Korea’s economic policymakers have come up with another set of countermeasures to tackle the lingering youth unemployment problem.So far, however, the measures have yet to put a big dent in the issue.Last month, the nation’s youth unemployment rate reached 10.3 percent.

[THE INVESTOR] The issue surrounding the U.S. Terminal High Altitude Area Defense system is becoming a serious bone of contention in East Asia as well as on the Korean Peninsula after Seongju, North Gyeongsang Province, was announced this week as the site that will host a THAAD battery.South Korea’s government has faced a dual task in resolving the backlash from domestic opponents, including Seongju residents, and neighboring countries such as China.The government should be aware that the proble

[THE INVESTOR] A special law for vitalization of the corporate sector and the economy is drawing attention as to whether it would be an efficient remedy for South Korea, which has been saddled with external and domestic uncertainties.Both policymakers and ailing industries are pinning hopes on the Corporate Vitality Enhancement Act, which will take effect in about a month. The law, which was legislated in February, is designed to revitalize major industries, such as shipbuilding and steelmaking,

[THE INVESTOR] Early this year, a consensus on sanctions on Pyongyang by Washington and Beijing were regarded as a benefit and relief to Seoul. China’s participation in the U.N.-led sanctions might be a substitute for the U.S.’s plan to deploy the Terminal High Altitude Area Defense system on the Korean peninsula.Apart from possible geopolitical tension from isolation of North Korea, the U.S. and China-led reprimanding on the wayward North was assumed to help South Korea avoid clashing with Chin

[THE INVESTOR] Last week, the government said it would draw up a supplementary budget worth 10 trillion won ($8.69 billion) in its unveiling of its second-half economic policy direction.A package of stimulus might be necessary in terms of overcoming the weak recovery in exports and domestic consumption as well as uncertainty from the Brexit scenario. But in a different aspect, the planned government expenditure is arousing concerns over possible deterioration of fiscal soundness amid a recent su

Some lawmakers are striving to bar the nation’s largest state pension fund from being exploited as a tool for local institutional investors’ routine massive short-selling of stocks of a large portion of firms listed on the Korea Exchange and KOSDAQ.The motion to prohibit the National Pension Service from lending some of its stake in listed companies was brought to the National Assembly’s Health & Welfare Committee on Nov. 9. It was proposed by Rep. Hong Moon-pyo from the ruling Saenuri Party in

UNITED NATIONS, United States (AFP) -- A U.N. General Assembly committee on Thursday backed by a record number of 112 countries a resolution condemning widespread human rights violations in North Korea.The resolution was adopted after 19 countries voted against the measure and 50 nations abstained.

PARIS (AFP) - In less than a week after the Paris attacks, French police have managed to track and kill one of the most-wanted Islamic State jihadists and a "ringleader" of the carnage, Abdelhamid Abaaoud.However, as investigators weave together a vast and complex web of clues pointing to a sophisticated logistical operation that took place under the nose of European intelligence officers, several burning questions remain.How did no one know Abaaoud was in Europe?The Belgian jihadist of Moroccan

PARIS (AP) - With France still reeling from last week's deadly attacks in Paris, Prime Minister Manual Valls warned Thursday that Islamic extremists might at some point use chemical or biological weapons, and urged lawmakers to extend a national state of emergency by three months.“Terrorism hit France not because of what it is doing in Iraq and Syria ... but for what it is,'' Valls told the lower house of Parliament.  He added, "We know that there could also be a risk of chemical or biological w

BEIRUT (AP) -- The Islamic State group has dramatically expanded its theatre of operations from its hub in Syria and Iraq, executing or inspiring a series of attacks across three continents that claimed more than 800 lives this year.The mayhem created by those attacks _ including the downing of a Russian airliner and a killing spree in the heart of Paris _ attracts the kind of attention that the extremist group thrives on.IS, which has recently lost territory to U.S.-backed forces in Syria and I

South Korea's national baseball team advanced to the final of the 2015 WBSC Premier12 tournament by beating the Japanese counterpart 4-3 in Tokyo, Thursday.The gold medalist during the 2008 Beijing Olympics is scheduled to deal with the winner of the other semifinal match -- Mexico versus the United States (slated for Friday) -- at 7 p.m. this Saturday.  Korean players cheer after crushing the Japanese national baseball team in the Premier12 semifinals at the Tokyo Dome, Thursday. (Yonhap)The Wo

The Belgian jihadi suspected of masterminding deadly attacks in Paris was killed in a police raid on a suburban apartment building, the city prosecutor's office announced Thursday. Paris Prosecutor Francois Molins' office said 27-year-old Abdelhamid Abaaoud was identified based on skin samples. His body was found in the apartment building targeted in the chaotic and bloody raid in the Paris suburb of Saint-Denis on Wednesday.Police launched the operation after receiving information from tapped p

Local analysts forecast Wednesday that the Chinese yuan’s inclusion in the IMF’s reserve-currency basket could significantly affect Korea’s capital market.They said if the special drawing rights reserve-currency status is bestowed on the yuan it could increase the level of volatility in the domestic financial market.  “Ahead of the U.S. rate-setting in December, the local market should look at whether or not the yuan is included in the SDR currency basket later this month,” said Yuanta Securitie

 The Korean bourse and currency were hit Monday due to a selloff by foreign investors after terrorist attacks in France over the weekend roiled Asian financial markets.The Korea Composite Stock Price Index fell to the lowest in one and a half months, plummeting 1.53 percent, or 30.27 points, from the previous session to finish at 1,943.02. The attacks in France are estimated to have accelerated the losing streak of the benchmark equity index, which was already bearish on expectations of a U.S. r

The Bank of Korea’s seven-member policy committee kept the benchmark rate untouched at 1.5 percent during their monthly gathering Thursday. It said their decision was unanimous during a news briefing session.As the central bank conducted cuts by 100 basis points between August 2014 and June 2015, the key interest rate is to stay at the historic low level for the sixth consecutive month until the next rate-setting meeting, which is slated for Dec. 10.BOK governor Lee Ju-yeol -- asked about the ou

Financial authorities are expected to take the initiative in conducting the debt rescheduling of Hyundai Group after its logistics unit publicizes its third-quarter earnings this Friday, some creditor bank officials said Wednesday.According to data held by the Financial Supervisory Service and the Korea Development Bank, the group is reportedly facing a liquidity crisis as its flagship Hyundai Merchant Marine has been saddled with snowballing debt.After posting 601.7 billion won ($521.4 million)

 The U.S. dollar rose sharply in the local market as the majority of global investment banks -- in their recent projections -- tilted toward the possibility that the Federal Reserve will raise the base rate next month.The shift, from the formerly growing outlook on a hike delay, was due to the marked improvement in the U.S. employment and some other indices. On Monday, the dollar surged 1.33 percent, or 15.3 won, from a trading session before to close at 1,157.2 won.This is the highest level in