Japanese tech giant Toshiba Corp.'s efforts to sell its memory business will eventually benefit South Korean industry players as the move can be considered an opportunity for them to expand their market shares, a report said Wednesday."As Toshiba will be put off in making investments in the 3-D NAND flash sector, there will be a shortage in supply that can become more serious," said Choi Do-yeon, a researcher at Shinhan Investment. "This will lead to expanded investment opportunities for Samsung

Moody’s Investors Service cut its rating on China’s debt, saying that the outlook for the country’s financial strength will worsen as debt rises and economic growth slows.Moody’s reduced the rating to A1 from Aa3 and changed the outlook to stable from negative, the company said in a statement on Wednesday. The offshore yuan extended losses after Moody’s downgrade, weakening 0.12 percent to 6.8889 per dollar as of 8:24 a.m. in Shanghai.President Xi Jinping and o

South Koreans' overseas stock investment has jumped nearly 40 percent in 2017 from a year ago, data showed Wednesday, as retail investors apparently turn to foreign markets amid a domestic rally dominated by large caps.According to the data by the Korea Securities Depository, local investors' direct transactions of stocks traded overseas came to $6.32 billion as of Friday, up 39.9 percent from the same period a year earlier.The balance of foreign-traded stocks deposited at the clearing agency th

South Korea's growing household debt and geopolitical risks are two major systemic risks facing the country's financial system, a survey showed Wednesday.Household debt topped the list of key systemic risks cited by market watchers at 85 percent, compared to 70 percent in October, according to the semi-annual survey conducted by the Bank of Korea. South Korea's household debt reached a record high of 1,359.7 trillion won ($1,214 billion) at the end of the first quarter, according to data compile

North Korea claimed Wednesday that the US is seeking to "suffocate" the North as it finds faults with normal economic cooperation over a recently opened ferry service between the North and Russia.Last Thursday, a North Korean ferry named the Mangyongbong kicked off a trial service which links North Korea's port of Rajin and Russia's far-eastern port city of Vladivostok amid tightened United Nations sanctions. (Yonhap)A spokesman at North Korea's foreign ministry claimed that the ferry service is

South Korean President Moon Jae-in was set to meet his special envoys to the United States, Japan and China on Wednesday to be briefed on their recent trips to the countries that were partly aimed at arranging Moon's summit meetings with his foreign counterparts.The special envoys were also expected to deliver replies to Moon's personal messages to the leaders of the three countries, according to officials at the presidential office Cheong Wa Dae. South Korean President Moon Jae-in (center) walk

They say refereeing mistakes are a part of football's unpredictability that also depicts human nature in the sport, but for South Korean fans, enough is enough.Following a series of refereeing mistakes, the South Korean professional football league recently decided to introduce a video assistant referee system earlier than scheduled -- a measure to soothe angry fans and regain their trust quickly. (Yonhap)The K League, the operator of the pro football competitions, announced last year that it wi

The American news agency, United Press International, has become a member of leading South Korean newswire Yonhap News Agency's news-sharing platform for the 2018 PyeongChang Olympics.As the host news agency for the upcoming Winter Games, Yonhap News is developing the PyeongChang News Service Network to allow news outlets around the world to share content on the Winter Olympics in real time and for free. The system will be completed within this year.(Yonhap)PNN members will have access to not on

JEONJU -- South Korea became the first team to clinch a knockout berth at the 2017 FIFA U-20 World Cup with a 2-1 win over Argentina Tuesday.Two FC Barcelona prospects, Lee Seung-woo and Paik Seung-ho, scored a goal apiece for the second straight game at Jeonju World Cup Stadium in Jeonju, some 240 kilometers south of Seoul, as South Korea improved to six points to stand atop Group A before more than 27,000 fans.South Korean players celebrate their 2-1 victory over Argentina at the FIFA U-20 Wor

JEONJU -- South Korean attacker Lee Seung-woo is known for his dazzling performance on the pitch, but also for his aggressive hair style.In the past, Lee, who plays for FC Barcelona's Juvenil A team, had his hair dyed bold colors, such as gold, light purple and even pink. For the 2017 FIFA U-20 World Cup in his homeland, the 19-year-old featured a semi-mohawk with letters engraved on the two low shaven sides.(Yonhap)On the right, Lee has the letter "V," meaning victory, and on the left, there's

Even after setting the scoring record for a South Korean player in a European club season, Tottenham Hotspur's Son Heung-min is hungry for more.Son made a triumphant return home Tuesday after netting 21 goals in 46 matches in all competitions during the 2016-2017 season. He broke the previous South Korean scoring mark held by Cha Bum-kun, who scored 19 for the German outfit Leverkusen in the 1985-1986 season. South Korean football player Son Heung-min speaks to reporters at Incheon International

The South Korean baseball club Hanwha Eagles on Tuesday fired their manager Kim Sung-keun.The Korea Baseball Organization  dismissed the 74-year-old bench boss prior to the Eagles' home game against the Kia Tigers in Daejeon, some 160 kilometers south of Seoul. (Yonhap)Kim has been managing the Eagles since the 2015 season, taking over a perennial doormat. They missed the postseason in Kim's first two seasons, finishing sixth in 2015 and then seventh last year.Before Tuesday's game, the Eagles w

Tottenham Hotspur's star winger Son Heung-min got a hero's welcome here Tuesday after a record-breaking season.Son arrived home with teammates Kyle Walker, Kevin Wimmer and Ben Davies for a corporate event and later the national team training camp for next month's World Cup qualifier against Qatar. (Yonhap)He was greeted by hundreds of Tottenham supporters decked out in team gear at Incheon International Airport.Son couldn't have joined the national team at a better moment.He finished the season

South Korea's central bank is tipped to hold its benchmark interest rate steady for May amid expectations of a possible US rate hike and a recovery in the local economy, a poll showed Tuesday.The survey of 200 bond market experts showed that all of the respondents forecast the Bank of Korea to freeze the key rate at its monthly rate-setting meeting slated for Thursday. The survey was taken by the Korea Financial Investment Association from May 10-15. The BOK left its policy rate unchanged at an

China has announced a safeguard measure against imported sugar exceeding the quota for three years, a move that will hurt South Korean exporters, such as CJ Cheiljedang Corp., a leading food manufacturer, a trade promotion agency said Tuesday.According to the Korea Trade-Investment Promotion Agency, China's Ministry of Commerce launched a safeguard investigation last year into the sugar imports made between Jan. 1, 2011, and March 31, 2016, and their prices.  (Yonhap)The ministry announced the s

Doosan Corp., an affiliate of machinery and construction equipment conglomerate Doosan Group, said Tuesday that it has completed the construction of a fuel cell plant in the country.Doosan said it has spent a total of 40 billion won ($36 million) in building the plant in Iksan, some 250 kilometers south of Seoul, which will produce fuel cells worth 63 megawatts annually, the nation's largest capacity. The company already operates a fuel cell plant in the United States.Earlier, the group pledged

Four players and two coaches from two clubs in the Korea Baseball Organization were disciplined Tuesday for their roles in a bench-clearing brawl this past weekend.The KBO slapped the Samsung Lions pitcher Yun Sung-hwan with a six-game ban, and also banned Samsung coaches Kim Jae-gul and Kang Bong-kyu five games each. The two coaches were each fined 3 million won ($2,670). Another Samsung pitcher, Zach Petrick, was fined 2 million won. Players and coaches from the Samsung Lions (in blue) and the

South Korea's largest consumer electronics and technology trade fair will kick off in Seoul later this week to showcase the latest mobile gadgets and telecommunications technologies, the ICT ministry said Tuesday.The World IT Show, hosted by the Ministry of Science, ICT and Future Planning, will kick off Wednesday at the COEX convention center in southeastern Seoul for a four-day run. (COEX)At this year's event, under the theme of "transform everything," more than 500 companies from 47 countries

On the surface, Jang Ha-na was carving out a successful career on the LPGA Tour at age 25, with four wins in the last two seasons and the No. 10 position in world rankings.But all that glitters is clearly not gold, as far as she is concerned, which is why Jang has decided to rescind her LPGA membership and return to play on home soil starting this summer. In this Associated Press photo taken on March 4, 2017, Jang Ha-na reacts after a shot at the first hole during the third round of the HSBC Wom

South Korea will take on world No. 1 Canada in its first appearance at the top men's hockey world championship next year.The International Ice Hockey Federation on Tuesday announced seedings for its top-tier World Championship for next year.South Korea earned a promotion to the competition by finishing second at the Division I Group A tournament last month in Ukraine, and will be among the 16 teams in action in Denmark next May. (Yonhap)The 16 teams will be divided into two groups of eight. Sout