The country's new ministry dedicated to small and medium-sized enterprises said Monday it will vitalize the local economy by expanding exports of products made by smaller companies.The Ministry of SMEs and Startups said it aims to expand the proportion of exports made by SMEs to over 40 percent of all outbound shipments by 2022. Small and medium-sized companies accounted for 37.6 percent of exports in 2016, up 5.5 percentage points from 32.1 percent in 2012, according to the ministry. The amount

South Korean President Moon Jae-in and his US counterpart Donald Trump will hold telephone discussions over ways to deal with North Korea's provocations, an official from Seoul's presidential office Cheong Wa Dae said Monday."(President Moon) and President Trump are soon expected to hold telephone talks. The sides are now working to arrange the conversation," the official told reporters, while speaking on condition of anonymity.The official said the exact time of the conversation has not yet bee

T'way Air Co., one of South Korea's six budget carriers, has formed business ties with Sky Angkor Airlines in Cambodia to develop new routes and cooperate in flight operations, the company said Monday. On Friday in Phnom Penh, the two airlines signed a memorandum of understanding to jointly develop new routes and operate their existing routes, T'way Air said in a statement.  (Yonhap)Through the partnership, T'way Air expects to strengthen its services on routes to Vietnam and Cambodia, popular d

Jakarta governor-elect Anies Baswedan will learn about the Seoul metropolitan city's policies at the invitation of Seoul Mayor Park Won-soon this week, a city official said Monday. "Park and Baswedan will discuss ways to bolster exchanges and cooperation between the cities in Seoul later in the day," the official said.  Jakarta Governor-elect Anies Baswedan. (Yonhap)The Jakarta governor-elect's visit was made about two months after Park invited him to visit Seoul during his visit to Indonesia as

TOKYO -- United States President Donald Trump and Japanese Prime Minister Shinzo Abe affirmed a tough response to North Korea's recent launch of an intercontinental ballistic missile during their phone conversation on Monday.Earlier in the morning, the two leaders reportedly shared their conclusion that the two countries should cooperate with South Korea and the international community for strengthened sanctions and pressure in order to prevent North Korea's further provocations.They also report

South Korean stocks opened lower Monday following late last week's losses on Wall Street.The benchmark Korea Composite Stock Price Index fell 2.62 points, or 0.11 percent, to 2,398.37 in the first 15 minutes of trading.  Most large caps traded mixed with market kingpin Samsung Electronics losing 0.42 percent and leading automaker Hyundai Motor shedding 1.67 percent.In contrast, leading steelmaker POSCO gaining 0.33 percent, and SK hynix was up 1.24 percent on its better-than-expected third-

North Korea has celebrated its recent launch of an intercontinental-range ballistic missile with a banquet in the presence of the country's leader Kim Jong-un and his wife, the North's state-run news agency said Monday.Contributors to the July 28 launch of a Hwasong-14 missile were invited to the event held Sunday in Pyongyang, according to the Korean Central News Agency. They included Ri Man-gon, vice chairman of the ruling Workers' Party of Korea's central committee, and Kim Rak-gyon, commande

The medical community is reeling from the planned minimum wage hike next year, with small neighborhood clinics and hospitals appealing for at least a matching hike in billing rates, industry officials said Monday.The government and labor unions earlier this month agreed on a 16.4 percent hike in the minimum pay for next year, from 6,470 won ($5.76) to 7,530 won. The scale of the hike has drawn protests from many businesses, which say they cannot afford the extra cost, triggering concerns by jobs

WASHINGTON -- The United States will continue to put pressure on North Korea to give up its nuclear and missile programs in coalition with other nations, US Vice President Mike Pence said Sunday, as tensions run high over Pyongyang's latest missile test.Pence made the remark to reporters during an official trip to Estonia, two days after the North test-launched its second intercontinental ballistic missile."The continued provocations by the rogue regime in North Korea are unacceptable and the Un

WASHINGTON -- The US ambassador to the United Nations ramped up pressure on China on Sunday, saying "the time for talk is over" to address North Korea's missile and nuclear programs.Amb. Nikki Haley expressed her frustration with China earlier in the day as well, tweeting, "Done talking about NKorea. China is aware they must act." US ambassador to the UN Nikki Haley (Yonhap)Her remarks came two days after North Korea test-fired an intercontinental ballistic missile into waters between Korea and

WASHINGTON -- The United States said Sunday it carried out another successful test of the THAAD missile defense system, as tensions run high over North Korea's missile and nuclear programs.The test had been expected to take place this weekend as part of the US Missile Defense Agency's routine programs. But Sunday's test came two days after North Korea conducted its second test of an intercontinental ballistic missile.That missile can reach deep into the US mainland if launched on a standard traj

WASHINGTON -- The United States said Sunday it has conducted a successful test of an advanced missile defense system two days after North Korea test launched its second intercontinental ballistic missile. The US military's latest test of the Terminal High Altitude Area Defense missile defense system was planned before North Korea's launch of an ICBM last Friday night, but it came as tensions again heightened over the North's second test of an ICBM in less than a month. During the test, conducted

North Korea on Sunday warned of "a stern action of justice" if the United States seeks new sanctions against its latest test of an intercontinental ballistic missile.The North's Foreign Ministry issued a statement hailing its late-night ICBM test on Friday as a show of its military capability that Washington dares not ignore."If the United States sticks to its military adventurism against us and super-intensive sanctions schemes, we will respond with stern action of justice as we have already de

Former South Korean national figure skating champion Lee June-hyoung is headed to the final Olympic qualifying event.Lee, a three-time South Korean champion, won the men's singles title at the Figure Skating Korea Challenge with 228.72 points on Sunday at Mokdong Ice Rink in Seoul. After finishing first in Saturday's short program with 77.72 points, Kim, 20, scored 151.09 points in free skate on Sunday.Kim Jin-seo finished second with 223.49 points. Cha Jun-hwan, a 15-year-old phenom and a favor

Teen figure skater Choi Da-bin won the ladies' singles title in the first round of the Olympic trials on Sunday.The 17-year-old scored 181.79 points combined from her short program and free skate at the Figure Skating Korea Challenge at Mokdong Ice Rink in Seoul.Choi, who won Saturday's short program with 63.04 points, earned 118.75 points in Sunday's free skate.Kim Ha-nul finished a distant second with 169.15 points, followed by An So-hyun with 162.44 points. South Korean figure skater Choi Da-

Kakao Bank, South Korea's second Internet-only bank, said Sunday it has attracted some 800,000 accounts four days since its launch, with combined deposits and loans hovering above 500 billion won ($445.2 million).The bank said the number of clients came to 826,000 as of 3:00 p.m., with deposits being estimated at 275 billion won. The newly established bank also rolled out loans worth 260 billion won so far. More than 1.48 million users also downloaded the Kakao Bank application.Its performance f

South Korea's defense chief said Sunday the military will upgrade its Patriot missile system to help defend Seoul and nearby areas from North Korea's growing threats.Defense Minister Song Young-moo also reaffirmed a plan to establish the country's own missile defense networks, called the Korea Air and Missile Defense, at an early date."North Korea's firing of an ICBM-class ballistic missile two days ago is a reckless provocation threatening the Korean Peninsula and the international community,"

A Tokyo-based pro-North Korean news media has said Pyongyang won't stop its missile tests unless the US changes its hostile policy."The firing of ballistic missiles in the face of the US will not stop until policymakers of the Trump administration change their strategic position on Chosun and are engaged in forward-looking behaviors," the Chosun Sinbo said Saturday, using the name of the past Chosun dynasty, which is spelled Joseon in the South, to refer to North Korea.The article came a day aft

Yeongjong Island -- As South Koreans start taking summer vacation this weekend, Incheon International Airport on Sunday is packed with vacationers traveling overseas.The airport said a record number of some 109,000 is expected to use the airport Sunday to go overseas. The airport was packed with people early in the morning, carrying backpacks and carriers of casual clothes. Excited, some put on straw hats, while others already had their travel pillows wrapped around their necks in preparation fo

An independent counsel team has decided to bring former Culture Minister Cho Yoo-sun allegedly involved in the so-called cultural blacklist case to an appellate court early this week in defiance of the lower court's "too lenient" ruling on her, a team official said Sunday. "We plan to submit an appeal (against Cho) as early as Monday after deliberating on the lower court's decision," the official said.On Thursday, the Seoul Central District Court sentenced Kim Ki-choon, the former chief of staff