Former UN Secretary-General Ban Ki-moon can hold public office in South Korea, as long as his work does not put the international organization or its member states "at a disadvantage," a local report said Monday.The report by the National Assembly Research Service reviewed a 1946 UN General Assembly resolution that Ban's critics have argued restricts Ban's run for the president. It was unveiled by Rep. Kim Kyung-hyup of the main opposition Democratic Party who belongs to the legislature's foreig

South Korea's top 10 conglomerates by assets take up over half of the country's stock market capitalization, data showed Monday, pointing to their huge clout in Asia's fourth-largest economy.According to the data by corporate tracker Chaebul.com, listed subsidiaries of the 10 largest family-controlled business groups, known as chaebol here, had a combined market capitalization of 793.9 trillion won ($680 billion) as of Wednesday, or 51.6 percent of the value of all shares traded on the main bour

South Korea's stock market has risen 11 percent in the past five years, far lower than other global markets' yield rates, as the local stock market has been locked in a tight range, data showed Monday.According to the data compiled by the Korea Exchange, the country's benchmark index, the KOSPI, closed at 2,026.46 points on the last trading day of 2016, up from 1,825.74 points five years ago. (Yonhap)Japan's Nikkei 225 index came at the top of the performance list by surging to 19,114.37 points

The number of children born in third countries to North Korean defectors has been on the rise requiring the expansion of support provided by society, a public foundation in Seoul said Monday.According to the Korea Hana Foundation, the number of children in South Korea who were born in third countries, like China, reached 1,249 as of 2015, more than the 1,226 kids born in the North who escaped with their parents. In late 2011 there were 608 children born in third countries before they arrived in

US President Donald Trump reaffirmed Washington's "ironclad commitment" to South Korea's defense and agreed to take steps to bolster joint defense capabilities, the White House said Sunday.Trump made the remark when he spoke by phone with South Korea's Acting President and Prime Minister Hwang Kyo-ahn and discussed the importance of the alliance between the two countries, the White House said in a statement."President Trump reiterated our ironclad commitment to defend the (Republic of Korea), in

North Korea is employing land-based sensors along its border with China to detect people trying to flee the country, sources in Seoul said Monday.Insiders familiar with the reclusive country told Yonhap News Agency that the North's national security agency has set up unmanned detection devices following orders issued by leader Kim Jong-un. The North Korean leader has stressed the importance of dealing effectively with defectors as quickly as possible. A North Korean restaurant located in China a

More than 3.7 million used cars were traded in South Korea last year, hitting a record high, data showed Sunday.The number of used cars newly registered with the authorities during the year totaled 3.78 million, according to the Ministry of Land, Infrastructure and Transport. It marks an increase from 3.66 million in 2015, 3.46 million in 2014, 3.37 million in 2013 and 3.28 million in 2012. Used cars are for sale in this file photo. (Yonhap)The continued expansion of the second-hand car market i

A South Korean university professor was found not guilty of defaming the Korean women sexually enslaved by Japan during World War II through her much-disputed book on Wednesday.The Seoul Eastern District Court ruled in favor to Park Yu-ha, 59, a professor of Japanese literature at Seoul’s Sejong University, citing importance of freedom of expression to encourage a public discourse. “The subject of the defamation was the comfort women as a whole,” the court said in the verdict. “Even if there wer

Former UN Secretary-General Ban Ki-moon on Wednesday took a step closer to announcing his anticipated bid in the upcoming presidential election, by calling for constitutional revision and bashing his key opposition rival over national security issues.During his speech at a debate hosted by the Kwanhun Club, an association of senior journalists, the former top diplomat underlined the need for “national integration,” a term frequently quoted by presidential aspirants.“Our country should stop the i

President Park Geun-hye on Wednesday filed a compensation suit against a South Korean daily and its journalists for publishing a report that said she orchestrated the creation of a blacklist of cultural figures deemed critical of her administration, sources said. The Joongang Ilbo reported on Saturday that the blacklist was created about a month after the tragic sinking of the Sewol ferry in 2014 following the president's order to deny those critical of the government state support.Park's legal

Rep. Pyo Chang-won of the main opposition Democratic Party of Korea on Wednesday promised to make a public apology over the exhibition of a naked satirical portrait of President Park Geun-hye.His remark was deemed a move to quickly resolve the dispute before it inflicts a blow on the party’s leadership or its presidential front-runner Moon Jae-in ahead of the upcoming election.“I have been told that women were largely offended (by the painting) and for this reason I shall make a sincere apology

The Seoul Metropolitan Government announced Wednesday its plan to launch pedestrian-friendly districts in the capital, starting with the April opening of an urban sky garden, a transformation of the defunct Seoul Station flyover to an elevated walkway.The Seoul Metropolitan Government said it would designate the new garden, dubbed “Seoul-lo 7017,” and streets in Jongno as pedestrian-friendly districts. Vehicles will be banned in such areas and the city government can fine those who drive there -

North Korea is likely to test-fire an intercontinental ballistic missile to mark late leader Kim Jong-il's birthday on Feb. 16, a researcher on North Korean affairs said Wednesday."Given the North Korean regime's remarks and conditions of its technical preparedness, the North is highly likely to go ahead with an ICBM test firing ahead of the 75th anniversary of Kim Jong-il's birth on Feb. 16," Cheong Seong-chang, a senior researcher at the Sejong Institute, said in a forum hosted by the institut

South Korea's justice ministry said Wednesday that it plans to release 884 inmates, including many entrepreneurs, on parole ahead of the Lunar New Year's holiday this week as part of efforts to promote economic recovery and national integration.It is the largest number of inmates to be released on parole since June 2009 when 896 convicts were set free, the ministry explained.The inmates will be released at 10 a.m. Thursday, a day before the four-day traditional holiday begins. "(Acting President

Former UN chief Ban Ki-moon on Wednesday renewed his strong presidential ambitions, highlighting his likely campaign credo of "grand national integration," boasting of his diplomatic chops and bashing his rival for ambivalence on a key security issue.During his appearance at a debate hosted by the Kwanhun Club, an association of senior journalists, Ban also reiterated his support for a constitutional revision to enact a "power-sharing" governance model that can reduce powers currently concentrat

South Korea's central bank said Wednesday it has agreed with its Malaysian counterpart to extend their bilateral currency swap line, a move that could further strengthen bilateral financial cooperation.Under the deal that will last until January 2020, the two countries can exchange 5 trillion won ($4.2 billion) for 15 billion ringgit ($3.3 billion) or vice versa, which could also be used to settle payments linked to their bilateral trade, the Bank of Korea said in a statement. (Yonhap)"This arra

With Korea’s overseas aid having taken root, the next government should establish and institutionalize the model of the country’s official development assistance in its policy framework to shore up its role as an emerging donor, the chief of the Korea International Cooperation Agency said. In recent years, whether and how to define Korea’s ODA model has surfaced as one of the most hotly debated topics in the field. Some policymakers and scholars argue a model would help boost the country’s edge

A Japanese hotel under fire for providing books denying the country's past wrongdoings offered on Wednesday to remove them before hosting South Korean athletes for an upcoming competition.The decision by APA Hotel and Resort in Sapporo, which will be used as athletes' quarters during the Feb. 19-26 Asian Winter Games, came hours after the Korean Sport and Olympic Committee demanded appropriate steps be taken.APA Hotel and Resort (Yonhap)The KSOC lodged a formal complaint with the Japanese Olympi

South Korea and the Unites States’ defense chiefs are seeking to hold their first bilateral meeting in Seoul next month since the inauguration of new US president Donald Trump, Seoul’s Defense Ministry said Wednesday. The ministry said it is working with Washington on a meeting between Defense Minister Han Min-koo and US Defense Secretary James Mattis, who is considering a visit to Japan and South Korea early next month, according to reports by Japanese media outlets citing US officials.“We are

Park Han-chul, the outgoing chief of the Constitutional Court, said Wednesday the final ruling on President Park Geun-hye’s impeachment should be made by March 13, which in turn will bring forward a presidential election as early as late April. “If the court proceedings are prolonged, the court faces a situation where only seven justices will hear the case,” Park said during the ninth hearing of the president’s impeachment trial, citing Justice Lee Jung-mi whose term ends on March 13. It was the