The second annual meeting of the Asian Infrastructure Investment Bank  will be held on South Korea's southern island of Jeju in June, the finance ministry said Tuesday.The meeting of the board of governors will held on June 16-18 with the theme "sustainable infrastructure" and more than 10 seminars and discussion sessions, according to the Ministry of Strategy and Finance.   Detailed programs include one-on-one business meetings for networking by people in the infrastruc

Ryu Hyun-jin of the Los Angeles Dodgers has suffered his fourth straight loss despite his strongest outing of the season.Ryu held the Giants to a run on five hits over six effective innings against the San Francisco Giants at AT&T Park in San Francisco on Monday (local time). It still wasn't enough for his first win of the year, as the Dodgers lost 2-1.Ryu fell to 0-4 after four starts, but lowered his ERA from 5.87 to 4.64.The South Korean left-hander missed all of 2015 following a shoulder sur

Former All-Star catcher Hong Sung-heon will have a retirement ceremony this weekend with his two former clubs on hand.The Doosan Bears of the Korea Baseball Organization (KBO) said Tuesday they will hold a retirement ceremony for the 40-year-old before Sunday's home game against the Lotte Giants at Jamsil Stadium in Seoul.Hong already announced his retirement last November after 18 seasons in the KBO -- 14 in two different stints with the Bears and four with the Giants. He had been undergoing co

A large number of female workers in South Korea served at restaurant and cafeteria businesses in the second half of last year amid a protracted economic slump, a report said Tuesday.A total of 1.35 million women were hired by various eateries in the last six months of last year, slightly more than the 1.29 million female workers in the country's retail sector, according to the report by Statistics Korea.Some 1.24 million were in the educational service business and 830,000 people were in the soc

Reduced to a part-time role in 2017, Baltimore Orioles' Kim Hyun-soo has finally hit his first home run of the season in his 10th game.The South Korean outfielder blasted a solo shot in the bottom of the sixth inning against the Tampa Bay Rays at Oriole Park at Camden Yards in Baltimore on Monday (local time).Kim, who bats left-handed, has been playing almost exclusively against right-handers. With Tampa Bay starting right-hander Chris Archer, Kim got into the lineup batting seventh and playing

South Korea's terms of trade deteriorated slightly in March from a year earlier as a rise in export prices was offset by a hike in import prices, central bank data showed Tuesday.The terms of trade index for products came to 99.57 last month, down 4.5 percent from a year earlier, according to preliminary data from the Bank of Korea. The index measures the amount of imports a country can purchase for each unit of exports, showing how the country's exports are doing in comparison to others.In Marc

SsangYong Motor Co. said Tuesday it is aiming to sell 20,000 units of the G4 Rexton sport utility vehicle (SUV) this year in the domestic market. "We expect the G4 Rexton SUV will boost our bottom line in coming quarters as our Tivoli crossover helped us turn around last year," SsangYong Motor officials said in a press conference. (Yonhap)SsangYong Motor unveiled the new SUV during the Seoul Motor Show held last month near Seoul. Parent Mahindra Group Chairman Anand Mahindra said he was "confide

South Korea's tourism and shopping industries are concerned about the potential impact of next week's long holiday following the recent drops in the number of visitors from neighboring countries, observers said Tuesday.Both China and Japan have extended holidays from the end of this month to the first week of May. Visitors and shoppers from the two countries during the period had previously helped boost South Korea's economy suffering from weak domestic demand, but industry watchers are worried

South Korea's major information technology (IT) firms are encouraging employees to take the two workdays interspersed with public holidays next week so they could enjoy upwards of a nine-day holiday, industry sources said Tuesday.The move comes amid growing calls for reducing overall work hours. On average a South Korean spent 2,113 hours annually at work compared to 1,766 hours which is the number for member states of the Organization for Economic Cooperation and Development (OECD) in 2015. (Yo

The venues for South Korea's upcoming friendly matches against Uruguay and Senegal ahead of the U-20 World Cup next month have been confirmed, the national football governing body said Tuesday. The Korea Football Association said South Korea's U-20 team will face Uruguay at Cheongju Stadium in Cheongju, North Chungcheong Province, on May 11. This will be the first time since 2007 that Cheongju, located some 140 kilometers south of Seoul, hosts a national team match.South Korea will then take on

South Korean stocks traded higher late Tuesday morning, led by gains in tech and autos.The benchmark Korea Composite Stock Price Index advanced 9.11 points, or 0.42 percent, to 2,182.85 as of 11:15 a.m.Most large-cap stocks were mixed across the board. Top market cap Samsung Electronics rose 1.84 percent, while SK hynix, a major chipmaker, shed 1.15 percent.Hyundai Motor, the No. 1 automaker, gained 2.12 percent and its smaller affiliate, Kia Motors, fell 0.2 percent.SK Innovation, the No. 1 ref

South Korean football icon Park Ji-sung is set to return to Old Trafford after receiving a call-up to play in a testimonial match for a former Manchester United teammate.Michael Carrick on Tuesday (Korean time) posted on his Twitter and Facebook page that Park will take part in his testimonial match, which will feature former and current star players in European football. The testimonial on June 4 will see Manchester United 2008 XI taking on the Michael Carrick All-Stars.In this file photo taken

South Korea's corporate watchdog said Tuesday that it will announce a list of companies obliged to disclose their corporate information later this year in a bid to help boost the transparency of their business activities.The Fair Trade Commission (FTC) said the Cabinet approved a plan to put businesses with assets of 5 trillion won ($4.4 billion) or more under a new watch list for mandatory filings.The list of companies subject to the new rules comes as the watchdog revised the fair trade law la

South Korean Choue Chung-won will run unopposed for a fourth term as the international taekwondo chief, the martial art's governing body said Tuesday.The World Taekwondo Federation said Choue is the sole applicant for its presidency. The 69-year-old has been at the WTF's helm since June 2004.In this file photo taken on July 25, 2016, Choue Chung-won, president of the World Taekwondo Federation, speaks at a press conference in Seoul. (Yonhap)The WTF elections for president, 12 council members and

Foreign investors bought South Korean stocks for a third straight session, fueling expectations that the country's benchmark index could break this year's record high, brokerage data showed Tuesday.Foreign buying between Thursday and Monday came to nearly 700 billion won ($617 million), according to data from Korea Exchange, the local bourse operator. Foreigners' buying spree of local stocks came despite heightened tensions on the Korean Peninsula over North Korea's missile and nuclear weapons p

The reported capitalization of South Korean life insurers is expected to face pressure if they adopt a new international accounting standard, credit appraiser Moody's Investors Services said Tuesday.South Korean life insurers have been preparing to report financial results under International Financial Reporting Standards 17, which will go into effect in South Korea from 2021.  Stella Ng, a vice president of Moody's, said the new global accounting standard will require life insurers to meas

Jin Air, one of South Korea's leading low-cost carriers, said Tuesday it will list its shares on the country's main bourse this year to raise funds for future growth.Jin Air has selected MiraeAsset Daewoo as the lead manager for the initial public offering (IPO) and will use the funds generated to purchase eight airplanes by 2018, the budget carrier said in a statement. A Jin Air B777-200ER passenger jet taking off from an airport in South Korea. (Jin Air)Currently, it operates 22 airplanes, inc

The government said Tuesday it plans to extend some 226 billion won ($119.3 million) in loans to local tourism businesses hit by a sharp drop in Chinese visitors in the wake of Beijing's hostile policy toward its neighbor.  Tourism-related businesses here, such as travel and hospitality, are taking the brunt of China's ban on trip sales to Korea, which took effect from March 15, in apparent retribution for Seoul's planned installation of a US anti-missile system called Terminal High Altitude Are

South Korea's finance minister held talks with the head of global investment bank Citigroup Inc. on Monday (local time) to share his views on global recovery trends and its impact on Asia's fourth-largest economy.At the meeting with Citigroup CEO Michael Corbat in New York, Finance Minister Yoo Il-ho said the South Korean economy has managed to pull off modest growth led by brisk exports which posted the fifth straight month of gains since November on the back of increased global demand.The uptu

The combined sales of South Korea's four credit rating companies fell 0.2 percent on year in 2016, due to a decline in sales of corporate bonds, data showed Tuesday. Total sales for four credit rating firms -- NICE Investors Service, Korea Investors Service, Korea Ratings and Seoul Credit Rating & Information -- stood at 82.76 billion won ($73.2 million) last year, compared to 82.95 billion won a year earlier, according to the data by the Financial Supervisory Service. Last year, sales