South Korea's tourism industry is on alert as China has set out to prevent its people from traveling to Korea in protest against Seoul's deployment of a high-tech US anti-missile battery, industry sources said Friday. On Thursday, Beijing told major travel agencies in the country to stop selling tours to Korea in what is seen as its latest retaliatory act against Seoul pushing ahead with stationing the Terminal High Altitude Area Defense system.China has expressed strong hostility toward the dec

South Korea's Bareun Party on Friday criticized the Chinese government for rolling out economic retaliations against Seoul in an apparent response to the scheduled deployment of an advanced US missile defense system.The remark came after China ordered its travel firms to suspend tours to South Korea after Seoul signed a land acquisition deal to deploy a Terminal High Altitude Area Defense battery last month. Rep. Choung Byoung-gug, the head of the Bareun Party (Yonhap)South Korea has been seekin

Foreign investors remain picky about what they buy in South Korea's stock market amid their strong presence here, data showed Friday.Foreigners owned more than 500 trillion won ($434 billion) worth of local shares as of January, 32 percent of the total market capitalization of all companies listed on the nation's bourse.But their possession is concentrated in a small bucket of shares. (Yonhap)Among a total of 2,249 companies listed on the local stock market, only 466, or 20.7 percent, boasted 10

South Korea's tax authorities have been investigating the local importer of Toyota and luxury Lexus vehicles over suspected tax evasions since late 2016, industry sources said Friday.In November, the Seoul office of the National Tax Service launched a tax audit into Toyota Korea over suspicions that it paid less income tax by fabricating transfer prices of goods and services in transactions with its parent and underreporting taxable income, according to the sources.Models pose with the Lexus new

Samsung Electronics Co.'s share of the Indian refrigerator market rose to a record high of more than 30 percent last year, according to the Korea International Trade Association on Friday. Samsung's share of the Indian market stood at 30.7 percent at the end of 2016, marking double-digit growth for the second consecutive year.  This photo shows Samsung's new Chef Collection refrigerator. (Photo courtesy of Samsung Electronics Co.) (Yonhap)Last month, Samsung's Indian unit began selling a new lin

The Chevrolet Trax subcompact SUV was the most exported vehicle in South Korea in 2016, market data showed Friday, indicating strong overseas demand for the car developed and produced here.GM Korea Co. shipped 240,351 units of the crossover SUV in 2016, according to the data from the Korea Automobile Manufacturers Association. The new Chevrolet Trax (Photo courtesy of GM Korea)The 2016 tally marked an 8.5 percent spike from 221,560 cars shipped overseas in the year before. Also, it was 17.2 time

South Korea's current account surplus narrowed in January due to an increased deficit in the service balance, central bank data showed Friday.The country's current account surplus reached $5.28 billion in January, compared with a surplus of $7.18 billion a year earlier, according to the preliminary data from the Bank of Korea.The figure represents a surplus for 59 months in a row. The current account is the biggest measure of cross-border trade. (Yonhap)The BOK said the service balance deficit h

South Korea's consumer prices rose at a faster-than-expected pace in February as prices of oil-related products picked up, government data showed Friday.The country's consumer price index gained 1.9 percent last month from a year earlier, slowing down from the previous month's 2 percent rise, according to the data compiled by Statistics Korea.From a month earlier, the index also edged up 0.3 percent in February. (Yonhap)Core inflation, which excludes volatile oil and food prices, increased 1.7 p

Daniel Russel, the top American diplomat handling Asian issues who is known as a key architect of former President Barack Obama's "rebalance to Asia" policy, will step down as assistant secretary of state next week, the department announced Thursday."Having served for over three and a half years as Assistant Secretary of State for East Asian and Pacific Affairs, Danny Russel will depart his position on March 8," acting spokesman Mark Toner said in a statement.Russel will begin a one-year State D

Former US Secretary of State John Kerry has joined the Carnegie Endowment for International Peace as its inaugural visiting distinguished statesman, the think tank announced Thursday.(Yonhap)"John Kerry's lifelong commitment to international peace and understanding embodies the mission and purpose of the Carnegie Endowment, "said Carnegie President William J. Burns in a statement. "His experience, wisdom, and belief in the power of diplomacy are needed now more than ever."Kerry will focus on con

The administration of US President Donald Trump is expected to finalize its North Korea policy by the end of this month, diplomatic sources said Thursday, amid reports that the new policy could include the possibility of military force.The White House has been conducting a review of North Korea policy in an effort to determine what the new administration could do differently to address Pyongyang's nuclear and missile threats. US President Donald Trump (Yonhap)The Wall Street Journal reported Wed

미국 워싱턴 주에서 나무에 목매달려 숨진 10대 소년 사건과 관련해 미국이슬람관계위원회(CAIR)가 연방수사국(FBI)에 수사를 촉구했다.2일 폭스뉴스에 따르면 지난해 11월 실종된 벤 케이타(18)는 최근 워싱턴 주 스노호미시 카운티 인근 숲속에서 나무에 목이 매달린 상태로 숨진 채 발견됐다. (사진=폭스뉴스)소년의 아버지에 따르면 벤은 지금까지 한 번도 우울증이나 신경성 불안 증세를 경험한 적없는 “행복한 아이”였다. 아버지 이브라히마 케이타는 “내 아들이 자살할 이유가 없다”고 주장했다. 검시관 역시 당초 벤의 사인을 자살이라 했다가 번복했다. 발견 당시 그의 목에 걸린 밧줄이 나무에서 50피트(15.2m) 높이에 묶여있었고 경찰이 이 지역을 지난 몇 주간 수색했지만 아무것도 발견되지 않았다. CAIR 워싱턴 지부 측은 그의 죽음을 ‘증오 범죄’와의 관련성이 있다고 FBI에 수사 요청을 했다.이에 FBI는 현재 “사망 정황을 파악하고 있다”며 “만약 물증이 있으면 연방법 차원에

Liberal presidential hopeful Rep. Ahn Cheol-soo said on Thursday he would push for multiple levels of dialogue with North Korea, including four-party talks involving the United States, China and the two Koreas. In a debate hosted by the association of foreign correspondents in Seoul, the former chief of the splinter People's Party said he would pursue a path of inter-Korean reconciliation, the North's denuclearization and ultimately a peace treaty among the stakeholders, he said. Rep. Ahn Cheol-

Global sales of South Korea-based automakers grew from a year earlier last month with sales growing both at home and abroad, the companies said Thursday.In February, combined global sales of the five automakers here came to 645,932 cars, up 2.5 percent from 629,881 cars sold in the same month last year, accordig to data released by the companies.  (Yonhap)Led by market leader Hyundai Motor Co., the five carmakers sold a combined 119,612 vehicles in the local market, up 8.1 percent from a year ea

The National Assembly passed an election law revision Thursday allowing some 2.2 million overseas Korean nationals to vote in this year's presidential election.The revision deleted a clause, which stipulated that Korean citizens residing abroad can only vote in presidential elections triggered by a presidential vacancy that occurs in 2018 and after. (Yonhap)The election may come as early as the first half of the year if the Constitutional Court upholds the parliamentary impeachment of President

South Korea's top automaker Hyundai Motor Co. said Thursday its global sales gained 1.5 percent from a year earlier in February, helped by a sharp rise in domestic sales.The automaker sold 341,345 cars globally in February, compared to 336,200 cars sold in the same month last year, the company said in a regulatory filing. Hyundai Motor's Grandeur Gasoline 3.3 sedan released on March 2, 2017. (Hyundai Motor)Domestic sales jumped 8.7 percent on-year to 53,113 cars, while overseas sales inched up 0

Global sales of South Korea's No. 2 automaker Kia Motors Corp. grew 2.1 percent from a year earlier in February, largely helped by a rise in overseas sales, the company said Thursday.Global sales came to 227,823 cars last month, compared to 223,175 cars sold globally in February 2016, the company said in a regulatory filing. (Yonhap)Domestic sales inched up 0.1 percent on-year to 39,158 units, while overseas sales gained 2.5 percent to 188,665 cars.The automaker said its sales in advanced market

South Korea and the United States officially kicked off negotiations Thursday to finalize the terms of deploying the advanced American missile defense system THAAD in South Korea, the foreign ministry said. "With regard to the provision of land (for the deployment), a request has been filed to open negotiations between the Ministry of National Defense and the US Forces Korea in accordance with the Status of Forces Agreement," foreign ministry spokesman Cho June-hyuck said in a press briefing. "T

A total of six North Korean soldiers armed with weapons crossed into China, prompting Chinese authorities to track their whereabouts, a source said Thursday.The North Korean soldiers deserted their posts along the border area with China and illegally entered Changbai County in the country's northeastern province of Jilin on Tuesday, according to the source."Chinese authorities notified residents to be on alert and immediately report their location if they are observed," the source added.In July

South Korea plans to sell 4 trillion won ($3.5 billion) worth of Treasury bills this month to support its expansionary fiscal policy, the finance ministry said Thursday.The bills will have a maturity of between 28 days and 63 days to be sold each in two separate auctions throughout the month, according to the Ministry of Strategy and Finance. (Yonhap)Treasury bills are usually sold to raise money to cover short-term financial shortfalls, and thus are generally sold with a maturity of less than a