Park Jie-won, floor leader of the minor opposition People's Party, said Tuesday that U.N. Secretary-General Ban Ki-moon could run in South Korea's presidential race under the right conditions if he receives the support of conservatives."Ban has considerable political ambitions, and if the pro-Park Geun-hye faction in the ruling Saenuri Party rallies around him, he could run for president," the three-term lawmaker who was again elected in the April 13 polls said during an interview held with SBS

Samsung Electronics Co. has sharply increased its dependence on Chinese and Taiwanese panel suppliers for its TV production, data showed Tuesday.The ratio of internal supply came to only 25.1 percent in March, while shipments from Chinese and Taiwanese firms accounted for 68.4 percent, according to market researcher IHS and industry figures here.The South Korean tech giant's affiliate Samsung Display Co. provided it with 885,000 panels during the period, when its Taiwanese rival Innolux offered

Four out of 100 South Koreans subscribed to life insurance policies died from suicides, the biggest cause of death for those in their teens to 30s, an institute's tally showed Tuesday.A close study of life insurance payments in the 2012-2014 period showed that of 177,706 deaths of policyholders, 7,490, or4.2 percent, were from suicides. Researchers at the institute said the number of suicides is likely higher since deaths from suicides were applied limitedly, leaving out many forms through which

Financially troubled Hyundai Merchant Marine Co. may face more challenges even after the country's No. 2 shipper successfully completes its drawn-out negotiations with owners of chartered ships to cut their leasing rates, industry sources said Tuesday.This week, the shipping line has to wrap up its months-long negotiations to lower its charter rates by 28 percent on average, one of the prerequisites that its creditors, led by state-run Korea Development Bank, have demanded in return for thorough

South Korea plans to seek ways to increase military cooperation with Africa as President Park Geun-hye embarks on her trip to three African countries including Uganda this week, a government official said Tuesday.Seoul's move will help weaken North Korea's military network with Africa and make it possible to strengthen cooperation over the international sanctions regime imposed on the communist country, according to the official.The chief executive will embark on her African tour and trip to Fra

Nearly 6 out of 10 South Koreans are supporting their parents financially, but people's thinking about bearing responsibility for aging parents has changed considerably over the past decade, as they demand more from society and less from children, a recent survey showed Tuesday.The survey, conducted by the Korea Institute for Health and Social Affairs, canvassed 1,000 people aged 20-64 by telephone between August and September last year. Responses were drawn from those with at least one of their

South Korean cosmetics manufacturers have grown quickly in China on the back of their advanced production technology and K-beauty boom in the fast-rising market, industry officials said Tuesday. Chinese cosmetics brands have expanded their partnerships with Korean original design manufacturers, which design and manufacture a product as specified and rebrand it for its client to sell.Cosmax Co., South Korea's leading ODM, has produced cosmetics in China and supplied products to 150 Chinese brands

The government and the ruling Saenuri Party said Tuesday they will consider holding off on taxing the subcontractors of financially troubled shipbuilders to help those companies better deal with the sweeping restructuring efforts under way.During the meeting, the two sides agreed to give tax-related favors and waive mandatory insurance fees from the subcontractors of local shipbuilders as they have been struggling with belt-tightening measures to stay afloat amid the present industrywide slump."

Hermes, a French high fashion brand, has proven to be a rare exception to the downturn in the luxury market, its trademark handmade handbags having long run out of stock in South Korea, industry officials said Tuesday.Global consulting firm Bain & Company in January estimated that the world's luxury market sales stopped at 1-2 percent growth last year, down from 7 percent two years before. Hermes, however, has displayed high and continued sales growth, at least in South Korea, data from local de

South Korea has recovered around 66 percent of the public funds spent since the 1997 Asian financial crisis to bail out ailing companies, government data showed Tuesday. From November 1997 to March 2016, the government extended a total of 168.7 trillion won ($145 billion) in public funds to help financially troubled companies hit by the 1997 and the 2008 financial crises, the Financial Services Commission said in a statement.  Financial Services Commission chairman Yim Jong-yong (Yonhap)As of Ma

North Korea's ambassador to Geneva reportedly downplayed U.S. presidential candidate Donald Trump's willingness to hold talks with the North's leader, Kim Jong-un, as a gesture for campaign purposes."It is up to the decision of my supreme leader whether he decides to meet or not, but I think his idea of talk is nonsense," Reuters quoted Amb. So Se-pyong as saying in Geneva. "It's for utilization of the presidential election, that's all. A kind of a propaganda or advertisement ... This is useless

The statute of limitations for a misdemeanor sexual abuse allegation against former South Korean presidential spokesman Yoon Chang-jung has expired, his lawyer said Monday.Yoon was accused of making unwanted sexual advances toward a young intern working as his temporary secretary while he was in Washington to accompany President Park Geun-hye on her first visit to the U.S. since taking office earlier that year.Yoon was fired in the middle of the trip, immediately after the allegations surfaced.S

Former U.S. nuclear negotiator Robert Gallucci expressed condolences Monday over the passing of his former North Korean counterpart Kang Sok-ju, saying the veteran diplomat was a "creative thinker" and a "skilled negotiator."Kang, a former first vice foreign minister of the North, died Friday of esophageal cancer at age 76. He has long been a top foreign policy brain of the North and negotiated the Agreed Framework deal with the U.S. that defused the 1993-94 nuclear crisis."In 1993 and 1994, Kan

U.S. President Barack Obama said North Korea poses the "biggest challenge" to efforts to realize a world without nuclear weapons.Obama made the remark in an interview with Japan's NHK television, saying one of the purposes of his planned visit to the Japanese city of Hiroshima is to demonstrate his commitment to a nuclear-free world."I think the biggest challenge we have right now with respect to nuclear weapons is the dangers of the nuclear program in Pyongyang, in North Korea. And there has be

A 66-year-old woman who squeezed 16 million won ($13,500) from an acquaintance with the promise of employment for the victim’s nephew was given one year in prison suspended for two years on Monday. 　The Jeonju district court said the woman misused her daughter’s position as a university professor to promise employment at the university as part of the management staff. 　She is also accused of taking another 16 million won from a group of people with whom she was in a “gye.” A gye is a traditional

A woman was found dead in a car she had no connection to on Sunday afternoon, according to police in Bucheon, Gyeonggi Province. The owner of the blue vehicle parked in the residential area of Gonghang-dong, Seoul, near Gimpo International Airport, was in for a surprise when police discovered a dead woman’s body splayed across the backseat of his car.  (YTN YouTube capture)He reportedly did not know the deceased 56-year-old surnamed Lee, and said his car had been parked in the same spot for over

A ruckus broke out Sunday at the makeshift memorial for the victim of an unprovoked murder at Seoul’s Gangnam Station exit 10, when a 31-year-old man surnamed Kim, dressed in a pink elephant onesie and a full head mask, promoted a “safer Korea with men and women hand-in-hand.”(Online Community)The killing of a 23-year-old woman by a schizophrenic man on May 17, who said he committed the crime out of his hatred for women who had “ignored and belittled” him, has since exploded in to a widespread m

A boar authorities killed to stop from rampaging through the residential area of Yeosu-dong, Seongnam in Gyeonggi Province on Sunday evening was found to have belonged to a woman in her 80s.The woman said she had been pasturing the hog in the nearby mountains. She demanded the police return the dead hog.  (Yonhap)The hog weighed over 200 kilograms. Police had requested a hunter shoot it down after their anesthetic guns had no effect on the animal. No one was hurt in the process. Authorities are

South Korean stocks closed marginally higher Monday on advances in the bio and tech industries. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 7.58 points, or 0.39 percent, to 1,955.25. Trade volume totaled 393.8 million shares worth 4.01 trillion won ($3.3 billion), with gainers outnumbering losers 403 to 392. (Yonhap)Individuals sold a net 67.8 billion won worth of stocks, while foreigners and institutional investors scooped up shares val

South Korea has tightened the screw on North Korea by slapping tougher unilateral sanctions over the North's recent nuclear and missile tests, adding to its punitive actions taken in 2010 in response to the North's attacks.On May 24, 2010, Seoul slapped comprehensive sanctions on North Korea to punish it for the torpedoing of the South Korean warship Cheonan two months earlier. The 2010 punitive measures excluded operations at the joint industrial park in North Korea's border city of Kaesong and