Outgoing US Vice President Joe Biden has called for full implementation of sanctions on North Korea, warning the communist nation will pose one of the most significant challenges the next administration will face."As North Korea's nuclear and ballistic missile capabilities continue to expand, it poses a growing threat to international security and our own national defense," Biden said during an event at the Carnegie Endowment for International Peace in Washington on Wednesday, according to a Whi

The nominee for CIA director Mike Pompeo on Thursday pointed to North Korea as one of the biggest threats to the United States, along with terrorism, China and Russia.Pompeo made the remark during his Senate confirmation hearing in response to a question about whether he believes terrorism is the highest threat that the US faces."In the near-term threat to life and limb of Americans, yes. I put North Korea, China and Russia right up there alongside them (terrorists)," he said. CIA Director-desig

North Korea's top diplomat for Asian affairs arrived in Beijing on Thursday for a trip that is aimed at briefing the country's 2017 policies to top envoys of some countries, a Japanese media report said.Choe Hui-chol, North Korea's vice foreign minister for Asian affairs, was seen at an airport in Beijing earlier in the day for a visit that is expected to last more than a week, according to Kyodo News.Citing diplomatic sources, Kyodo reported that Choe is in Beijing to "brief on his government's

A Seoul court on Friday meted out a five-year jail sentence to a former chief of local cosmetics brand Nature Republic who has been at the center of a high-profile lobbying scandal that rocked the country's legal circles.The Seoul Central District Court found Jung Woon-ho guilty of bribery. The court also sentenced Kim Soo-chun, a former senior judge, to seven years in jail for taking hundreds of millions of won in kickbacks from Jung.Jung, 52, has been accused of bribing judges and lawyers in r

South Korea's central bank held its key rate at a record low level on Friday, though it revised down its growth forecast for this year, citing the slowing economy.The Bank of Korea left the base rate at 1.25 percent for a seventh consecutive month in January, while it cut its forecast for gross domestic product this year to a growth of 2.5 percent, from 2.8 percent projected in October.  (123rf)The BOK's growth estimate is also lower than the government's forecast of a 2.6 percent growth release

More than half of non-trade barriers set by foreign countries against South Korea came from China, the Seoul government said Friday, stoking concerns about outbound shipments to Seoul's largest trading partner.Out of 49 non-tariff measures against South Korean goods, Beijing accounted for 26 as of October 2016, the Ministry of Trade, Industry and Energy and the Korea International Trade Association said.Technical barriers to trade) topped the list of non-tariff measures by China against South Ko

Samsung Group, South Korea's biggest business conglomerate, is bracing for a possible leadership vacuum as the group's de facto chief, Lee Jae-yong, was questioned as a suspect in the corruption scandal that led to the impeachment of President Park Geun-hye. Lee Jae-yong, vice chairman of Samsung Electronics Co., leaves the special prosecutor's office in Seoul on Jan. 13, 2017, after 22 hours of questioning over allegations Samsung Group offered financial aid to President Park Geun-hye's longtim

Following is the full text of the Bank of Korea's statement on its monetary policy decision for January. The central bank's monetary policy board decided Friday to hold the base rate steady at 1.25 percent for the month. (123rf)The Monetary Policy Board of the Bank of Korea decided today to leave the Base Rate unchanged at 1.25% for the intermeeting period.Based on currently available information the Board considers that the trend of global economic recovery has expanded somewhat, led by the US

Audi Volkswagen Korea, the local importer and distributor of the German brands, is moving to introduce a new car in South Korea that will mark the first car to be launched here since its emissions scandal that has led to a sales ban on most of its vehicle models, informed sources said Friday.According to the sources, the company recently had its 2017 model year A7 55 TDI Quattro certified by the environment ministry for emissions and noise levels, and is now in the process of having the car regi

South Korea's central bank on Friday held its key rate steady for the seventh straight month as it remains cautious about financial stability amid slowing growth.The Bank of Korea maintained its policy rate at an all-time low of 1.25 percent in January after sending the rate to the lowest level to support the growth of Asia's fourth-biggest economy. (Yonhap)"As the inflationary pressures on the demand side are not expected to be high, given the moderate pace of domestic economic growth, the boar

South Korea and the United States held a follow-up meeting on the bilateral free trade pact amid rising concerns over renegotiations sparked by US President-elect Donald Trump, the trade ministry here said Friday.Deputy Trade Minister Lee In-ho and his US counterpart Michael Beeman convened the fourth round of talks under the Korea-U.S. free trade agreement joint committee in Seoul on Thursday to review the implementation of the accord and discuss pending trade issues between the two countries,

Mando Corp., a South Korean auto parts maker, has filed a countersuit against Robert Bosch GmbH in the United States over alleged infringement of two of its auto-parts patents, an industry source said Friday. The German auto parts supplier had sued Mando four months earlier for alleged breach of four of Bosch's patents related to auto components. The suit was filed at the US District Court for the Eastern District of Michigan.  Mando's plant in Poland. (Mando)In a written response sent to the US

Leading whisky brands in South Korea are resorting to law violations to push up sales for the Lunar New Year holiday and make up for the slumping market, industry officials said Friday.Liquor companies market specially packaged gift sets for the holiday when tens of millions of South Koreans travel to their hometowns with presents for family and kin. A whisky gift set commonly consists of a 700 milliliter bottle with an extra miniature 50 ml bottle, both of which must have electronic tags, known

South Korea's state financial watchdog said Friday it paid more than 120 million won ($100,000) last year in cash rewards for helping punish violators of capital market rules.A total of 120.7 million won was given to five informers of such irregularities as stock price manipulation, unfair trading and the use of undisclosed information, according to the Financial Supervisory Service.It marks the largest-ever amount of cash rewards since the agency introduced the public merit system in 2000.The m

Kang Mi-ok received 2 million won ($1,700) from a rural county in central South Korea in August. The money was meant to promote the birth of a fourth baby.She is set to receive another 8 million won in installments by 2020 from Cheongyang County, South Chungcheong Province, to help her raise the baby. Kang Mi-ok holds her fourth baby as she talks with her husband at a cafe in Cheongyang, 160 kilometers south of Seoul, on Jan. 7, 2017. (Yonhap)"It's completely a bonanza," Kang said as she was car

North Korea may make surprise proposals to South Korea this year including reunions of separated families in a bid to break up the united international sanctions front, a report showed Thursday.In 2017, North Korea would seek to improve inter-Korean ties by taking advantage of political transitions in South Korea, the report by the Korea Institute for National Unification showed, referring to a possible earlier-than-expected presidential election in the South.The report said that North Korea may

South Korea on Thursday condemned recent terrorist attacks in Afghanistan which killed dozens of people including diplomats from the United Arab Emirates.A series of deadly attacks in Afghanistan, including those near the Afghan Parliament in Kabul and a government compound in Kandahar, caused dozens of casualties. Among the victims were UAE diplomats, the deputy governor of Kandahar. The UAE ambassador to Afghanistan was also injured. "The government strongly condemns the terrorist attacks infl

Defense Minister Han Min-koo (left) receives a briefing on the KADIZ breaches (Yonhap)Japanese military planes entered South Korea's Air Defense Identification Zone hundreds of times last year, mainly in the airspace south of Jeju Island off the country's southern coast, military officials said Thursday.Japanese military planes entered the zone near Ieodo, an underwater rock formation located some 160 kilometers south of Jeju, 444 times in 2016. There was no move by Japanese planes to approach D

South Korea's parliamentary committee looking into the alleged influence-peddling scandal centered on President Park Geun-hye and her close friend on Thursday reported Samsung Group's heir-apparent Lee Jae-yong for perjury.The decision came as the independent counsel investigating the case requested the committee to file the complaint, as it has found "evidence" showing Lee delivered false testimony during a parliamentary hearing held last month. Vice chairman of Samsung Electronics Lee Jae-yong

South Korean actor Park Hae-jin will hold meet-and-greets in five Southeast Asian countries early this year to celebrate his 11th anniversary since debut, the actor's management agency said Thursday."With the impending release of Park's new drama 'Man to Man,' Park will embark on an Asian tour to meet his fans," Mountain Movement said in a press release.According to the event's publicist JS Partners, "The enigmatic male protagonist from the hit TV series 'Cheese in the Trap' is riding a huge wav