Mercedes-Benz aims to sell a record high of over 60,000 units in South Korea this year, posting double-digit sales growth for a second consecutive year, the head of the company's local unit has said.In the first quarter of the year, Mercedes-Benz Korea sold a total of 19,119 units, raising hopes that it could far exceed last year's annual sales.In 2016, sales of Mercedes Benz Korea came to 56,343 cars, spiking 19.9 percent from a year earlier, while annual sales of all imported vehicles dropped

South Korea's exports continued to rise in April, extending their winning streak to six months, on the back of brisk overseas sales of ships and chips, the trade ministry said Monday.Outbound shipments came to $51 billion last month, up 24.2 from $41.1 billion tallied a year earlier, according to the Ministry of Trade, Industry and Energy.The country's exports have been on a steady rise since November led by an upturn in oil prices and recovering world trade. Imports jumped 16.6 percent on-year

Sales numbers of vehicles produced overseas and sold here by local manufacturers shrank greatly in the first quarter of the year from a year earlier, data showed Thursday, apparently due to advances by local competitors.Sales of the so-called OEM cars came to 3,171 units in the January-March period, sharply down 57.7 percent from the same period last year, according to the data compiled by the Korea Automobile Manufacturers Association.  The QM3 small SUV by Renault Samsung Motors Co., the South

Ryu Hyun-jin of the Los Angeles Dodgers has collected his first big league win since 2014. Ryu held the Philadelphia Phillies to a run on three hits over 5 1/3 innings at Dodger Stadium in Los Angeles on Sunday and earned his first win of the season as the Dodgers won 5-3.This was Ryu's first win in Major League Baseball since Aug. 31, 2014, when he pitched against the San Diego Padres. The South Korean left-hander missed all of 2015 following a shoulder surgery and made only one start last year

Lee Kun-hee, chairman of Samsung Electronics, has shown no signs of recovery since being hospitalized in May 2014 after suffering a heart attack, industry sources said Monday. Samsung officials and medical experts said that Lee's condition has neither significantly improved nor deteriorated. Samsung Group's Seoul-based headquarters (Yonhap)"I have not heard of Lee's condition for a long time. If there is no news, I believe his condition remains the same," a high-ranking Samsung executive said. W

The top diplomats from Southeast Asian countries on Friday expressed "grave" concerns over North Korea's nuclear and missile programs, strongly urging Pyongyang to comply with relevant U.N. resolutions, a statement showed.Foreign ministers of the 10-member Association of Southeast Asian Nations issued the statement ahead of the ASEAN leaders' annual summit in Manila slated for Saturday. (Yonhap)"ASEAN is mindful that instability in the Korean Peninsula seriously impacts the region and beyond," i

The presidential nominee of a splinter conservative party came under mounting pressure Friday to forge an alliance with other contenders to challenge front-runner Moon Jae-in.Yoo Seong-min of the Bareun Party, however, insisted he would finish the race and warned those questioning the viability of his candidacy to either help his campaign or leave him alone. Yoo Seong-min (right), presidential nominee of the Bareun Party, speaks on the campaign trail in a college district in Seoul on April 26, 2

Host South Korea unveiled its final roster for the FIFA U-20 World Cup on Friday.The Korea Football Association said two FC Barcelona prospects, Paik Seung-ho and Lee Seung-woo, will headline the 21-man roster for head coach Shin Tae-yong. The FIFA competition will be staged in six local cities from May 20 to June 11. South Korean national under-20 football team players conduct warm up exercise ahead of their friendly match against Jeonbuk Hyundai Motors at Jeonju World Cup Stadium in Jeonju, No

South Korea's political parties on Friday showed mixed reactions to US President Donald Trump's remarks apparently pressuring Seoul into paying for a US missile defense system being installed on the peninsula.Just 11 days ahead of the presidential vote, some parties remained cautious to avoid potential fallout from the divisive issue, while others responded angrily to his remarks, calling on Washington to take back its Terminal High-Altitude Area Defense battery. This image, provided by Yonhap N

South Korean stocks snapped their six-day winning streak on Friday, slipping from their six-year high, as investors cashed in recent gains, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index shed 4.02 points, or 0.18 percent, to close at 2,205.44.Trade volume was moderate at 263 million shares worth 5.64 trillion won ($4.96 billion), with losers outnumbering gainers 502 to 285.The local stock market opened higher as top market cap Samsung Ele

South Korea's economy is still facing uncertainties, although it has shown signs of recovery, the nation's financial regulator said Friday. The South Korean economy expanded 0.9 percent in the first-quarter of this year, growing at the fastest pace since the second-quarter of last year, the Bank of Korea said this week.  "There are estimates that show signs of recovery in exports and facility investment," Zhin Woong-seob, governor of the Financial Supervisory Service, said at a me

Hankook Tire Manufacturing Co., the world's seventh-biggest tiremaker by sales, on Friday posted a 13-percent on-year drop in its first-quarter net profit due to high manufacturing costs. Net profit for the three months that ended on March 31 fell to 171.15 billion won ($151 million) from 196.66 billion won a year earlier, the company said in a statement.  (Yonhap)"A rise in the cost of raw materials used to make tires in the first quarter affected earnings," a company spokesman said.The company

The conservative Liberty Korea Party on Friday denounced presidential front-runner Moon Jae-in's pledge to raise the corporate tax rate, stressing it "goes against global trends" and would undermine local businesses' competitiveness.Choung Tae-ok, the spokesman of the party's election campaign, demanded the candidate of the liberal Democratic Party retract the pledge to raise the top tax rate for businesses -- earning yearly taxable incomes worth 50 billion won ($44.1 million) or more -- to 25 p

Despite a crushing 5-0 loss at the hands of Austria at the men's hockey world championship on Thursday, South Korea still controls its own destiny.And the formula is simple: Just win, baby. (Yonhap)After four games, South Korea, coached by former National Hockey League defenseman Jim Paek, is in second place at the International Ice Hockey Federation (IIHF) World Championship Division I Group A. Both South Korea and Austria have nine points on three wins and a loss apiece, but Austria holds the

The South Korean government is trying to figure out the exact meaning of US President Donald Trump's statement that he will fix or scrap a bilateral free trade deal between the two countries, officials here said Friday.In an interview with Reuters, Trump called the South Korea-US free trade agreement "horrible," saying, "We are going to renegotiate that deal or terminate it." His comments came days after Vice President Mike Pence said earlier that Washington will review and r

South Korean businesses on Friday expressed serious concerns that US President Donald Trump's remarks on the bilateral free trade deal could trigger protectionism worldwide. In an interview with Reuters, Trump said he will either renegotiate or terminate the five-year-old trade agreement with South Korea, calling it "horrible" and "unacceptable."  He said his administration aims to renegotiate the trade pact with South Korea after it completes a revamp of the North Ameri

WASHINGTON (AP) -- The senior US Navy officer overseeing military operations in the Pacific said Thursday that the crisis with North Korea is at the worst point he's ever seen, but he declined to compare the situation to the Cuban missile crisis decades ago."It's real,'" Adm. Harry Harris Jr., commander of US Pacific Command, said during testimony before the Senate Armed Services Committee.Harris said he has no doubt that North Korean leader Kim Jong Un intends to fulfill his pursuit of a nuclea

Three national team lugers have been selected to run the torch relay for next year's Winter Olympics at home, officials said Friday.KT, a presenting partner for the 2018 PyeongChang Winter Games torch relay, said Aileen Frisch, Sung Eun-ryung and Cho Jung-myung will carry the Olympic torch during the relay. In this photo provided by KT on April 28, 2017, South Korean luger Aileen Frisch poses with the torch for the 2018 PyeongChang Winter Olympics at Alpensia Sliding Centre in PyeongChang, Gangw

LG Household & Health Care Co., South Korea's No. 2 cosmetics maker, on Friday reported firm growth in its first-quarter earnings, shrugging off concerns over a setback from China's boycott on Korean-made goods amid a diplomatic standoff. The company chalked up 180.6 billion won ($159 million) in net income in the January-March period, up 12.5 percent from 160.6 billion won the previous year, it said in a regulatory filing.  The figure beats the market consensus of 175.3 billion won estimated by

South Korea's Acting President and Prime Minister Hwang Kyo-ahn on Friday paid homage to soldiers killed in North Korea's past attacks in the West Sea, vowing to ensure their ultimate sacrifices for national defense will never be forgotten.Hwang invited their families and former comrades to his official residence in Seoul for a luncheon during which he stressed the nation will keep a robust readiness posture so as to honor their dedications to safeguard the country against a provocative Pyongyan