Asiana Airlines Inc. said Thursday its losses widened in the second quarter from a year earlier due to foreign currency-related losses.Net loss reached 74.7 billion won ($65.3 million) in the April-June period, compared to a loss of 26.7 billion won a year earlier, the company said in a statement. Operating income, on the other hand, surged 49 percent on-year to reach 42.8 billion won, with sales rising 8.5 percent to 1.49 trillion won over the cited period. The operating income and sales for th

Retail sales on the southern island of Jeju fell in the second quarter for the first time ever on a Sino-Korean row over the deployment of a US missile defense shield, government data showed Thursday.According to the data by Statistics Korea, retail sales on Jeju declined 3.2 percent in the April-June period from a year earlier.It represents the first on-year decline since the statistical agency started compiling related data in the first quarter of 2010.The agency attributed the decline to a pl

A group of celebrated Korean and international musicians will release a project song praying for the reunification of the Korean Peninsula, according to a record label Thursday.The song titled "Korean Dream" to be released on Liberation Day - Aug. 15 - involves Korea's Jung Dong-ha and Voisper, Korean-Australian singer Dami Im, American singers Peabo Bryson and Lauren Evans, and the Philippines' Sabrina and Zendee Rose Tenerefe, One K Media said.  This composite photo shows a group of internatio

Uber Technologies Inc. launched its food delivery service in South Korea on Thursday, joining the country's heated delivery service app market.The mobile application UberEATS allows users to select food from registered restaurants and deliver the dishes by its delivery partners, its local unit Uber Korea said. "Food delivery is very advanced in Korea," said Allen Penn, Asia Pacific's head of UberEATS, during a press conference held in Seoul. "With that said, we still feel like we are at the very

Hanwha Chemical Corp., a major chemicals firm, said Thursday that its second-quarter earnings sank almost 20 percent from a year earlier, due to a one-off factor.Net profit reached a record 249 billion won ($218 million) in the April-June period, compared with a profit of 310 billion won a year earlier, the company said in a regulatory filing. Hanwha Chemical Corp.`s plant in Yeosu, South Korea. (Yonhap)Operating income also dipped 25 percent on-year to reach 219 billion won, while sales edged u

A South Korean hip-hop duo were arrested and released by US military police in central Seoul after they shot a music video for their new album without permission from the authorities, local police said Thursday. Mighty Mouth, a male duet made up of rappers Shorry J and Sangchu, was apprehended by the US military police of the 8th Army late Wednesday, according to the Yonsan Police Station.  A photo of Mighty Mouth, provided by YMC Entertainment, filed on Sept. 17, 2012. (Yonhap)Two other staff m

South Korea's antitrust watchdog said Thursday that it has imposed a combined 796 million won ($699,000) in fines on two local electronics part suppliers for rigging bids for public railway construction projects.The two companies -- Yookyung Control Co. and Hyukshin Engineering Co. -- allegedly colluded to participate in five bids to supply electronic interlocking equipment arranged by state-run Korea Railroad Corp., according to the Fair Trade Commission. Interlocking equipment is a railway sig

South Korea's central bank said Thursday that it has decided to extend 4.6 trillion won ($4 billion) to small and medium-sized firms through commercial lenders in the latest move to boost potential growth numbers.The monetary policy board of the Bank of Korea said 3.6 trillion won will be provided to small and medium enterprises that are seeking to find new growth drivers and contribute to job creation.The decision comes as Asia's fourth-largest economy has been struggling to prop up growth and

South Korea will repatriate this week a North Korean man who was rescued last week while adrift in the southern side of the Yellow Sea, the Ministry of Unification said Thursday.The North Korean citizen in his 30s drifted across the inter-Korean maritime border to the southern side of the Yellow Sea while he was picking clams on the North Korean western coast near the border area, according to the result of a probe.A South Korean ship rescued him Sunday near Daecheongdo, one of the South Korean

A former prosecutor serving a prison term for bribery was freed Thursday as a Seoul appellate court cleared him of some of charges and handed down a suspended sentence. The Seoul High Court overturned a lower court's ruling on Kim Hyung-joon, who was put behind bars for 2 1/2 years, and sentenced him to one-year imprisonment suspended for two years. Prosecutors had sought a seven-year prison term for Kim. The appeals court also reduced Kim's forfeiture from 27 million won ($23,700) to 9.98 milli

South Korean stocks extended losses late Thursday morning as North Korea risks weighed on the main index.The benchmark Korea Composite Stock Price Index lost 16.71 points, or 0.71 percent, to 2,351.68 as of 11:20 a.m.The decline followed overnight losses on Wall Street. The Dow Jones industrial average fell 0.17 percent, with the tech-heavy Nasdaq composite index declining 0.28 percent.Ryu Yong-seok, a market analyst at KB Securities Co., said tensions between North Korea and the United States a

President Moon Jae-in reaffirmed his plan to overhaul the country's health care program Thursday, insisting the move is an important step in protecting the very lives and safety of the people."I am convinced the government must put the people's lives and safety before anything," the president said while meeting with his top aides for a weekly meeting at the presidential office Cheong Wa Dae.The remarks came one day after the government introduced its plan to greatly expand medical coverage by th

A total of 378 imported commercial vehicles, mostly trucks, were sold in South Korea last month, down 11.1 percent from the previous month, industry data showed Thursday.According to the data compiled by the Korea Automobile Importers and Distributors Association, Volvo topped the list with a total of 137 trucks sold, followed by 105 vehicles from MAN, 83 from Scania, 40 from Mercedes-Benz and 13 from Iveco.By type, bodybuilders accounted for 180 vehicles, followed by 131 tractors, 62 cargo truc

South Korea's auto exports continued to grow for six months in a row in July on rising demand from North America and Europe, government data showed Thursday.The total value of vehicles shipped overseas reached $3.65 billion last month, up 7.5 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.The figure has remained in positive terrain since February when it rebounded to a 5.3-percent rise from a 4.8-percent fall in the previous month.Total

The leader of the main opposition Liberty Korea Party accused the government of President Moon Jae-in on Thursday of playing no role in resolving tensions with North Korea, as Pyongyang escalated threats to fire missiles into waters around the US territory of Guam.Hong Joon-pyo made the remark during a meeting of the party's Supreme Council, saying the standoff between the North and the US appears to have reached an "extreme" point. Just a couple of hours earlier, the North's military renewed it

President Moon Jae-in's approval rating suffered a further decline this week, a poll showed Thursday, amid concerns of a possible conflict caused by North Korea's threat to stage a missile provocation directly aimed at US territory.In the survey conducted by Realmeter at the request of a local radio station, tbs, 71.7 percent of 1,531 respondents said they approved of the president's handling of state affairs, down 0.8 percentage point from 72.5 percent tallied at the end of last week.The latest

South Korea's military warned Thursday that North Korea will pay a harsh price for an attack on the South or its ally the United States.The Joint Chiefs of Staff issued the strongly worded message in response to the North's continued war rhetoric, including a threat to fire ballistic missiles toward Guam.Should the North ignore the warning and provoke, it will face "the allies' strong and resolute retaliation," Army Col. Roh Jae-cheon, the JCS spokesman, said in a statement.It's unusual for the

Samsung Electronics Co. said Thursday it will live-stream a concert of British rock band Coldplay slated for later this month through its virtual-reality device, the Gear VR.The South Korean tech giant said users of the Gear VR in around 50 countries will be able to enjoy the concert slated for next Thursday in Chicago (local time). (Yonhap)Samsung said the VR device will allow users to enjoy the live concert in 360 degrees, giving them a new experience as if they are actually at the venue."Sams

South Korean stocks opened lower Thursday as North Korea risks weighed on the main index.The benchmark Korea Composite Stock Price Index lost 4.19 points, or 0.18 percent, to 2,364.20 in the first 15 minutes of trading.The decline followed overnight losses on Wall Street. The Dow Jones industrial average fell 0.17 percent, with the tech-heavy Nasdaq composite index declining 0.28 percent.Ryu Yong-seok, a market analyst at KB Securities Co., said tensions between North Korea and the United States

The energy ministry has formed a task force to better inform the general public about the government's nuclear-free policy, officials said Thursday, as opponents of the policy escalate their media campaign.The task force under the Ministry of Trade, Industry and Energy will be responsible for providing information, statistics and industry status of other countries for better public understanding of issues involved, officials said.The Moon Jae-in administration declared in June it will phase out