Moon, Abe agree to push for oil supply cut to North Korea President Moon Jae-in and Japanese Prime Minister Shinzo Abe have agreed to seek tougher U.N. Security Council (UNSC) sanctions on North Korea over its nuclear and missile programs, including cutting off its oil supply, Cheong Wa Dae said Thursday.A bumpy road, however, is ahead for their joint efforts as President Vladimir Putin of Ru

Four more THAAD launchers deployed amid protests Four more rocket launchers for a U.S. missile defense system were deployed in South Korea Thursday after police removed hundreds of protesters from the site.Clashes occurred throughout the night as some 400 residents fought off police officers near their community center in Seongju, some 300 kilometers south of Seoul, where the Terminal High Al

Hyundai Motor plant in China suspended due to payment problems A Hyundai Motor's plant in China was forced to suspend operations Tuesday as a German company refused to supply auto components due to payment problems, the South Korean carmaker said.Hyundai's plant in Cangzhou, Hebei District, was brought to a halt as the supplier has stopped delivering air intake components due to delayed paymen

N. Korea seen preparing for another ICBM test North Korea appears to have succeeded in miniaturizing a nuclear warhead, Defense Minister Song Young-moo said Monday, a day after Pyongyang conducted its sixth nuclear test.It also suspected the North will soon carry out its third test of an intercontinental ballistic missile (ICBM)."We assume that North Korea has secured the capability to minia

N. Korea claims successful H-bomb test for ICBM Posted North Korea detonated a hydrogen bomb that can be mounted on an intercontinental ballistic missile (ICBM) in its sixth nuclear test conducted Sunday, according to claims from its state media.The (North) Korean Central News Television (KCTV) said the test of the missile-capable H-bomb was a "complete success."The announcement came after t

A Seoul court ruled in favor of Kia Motors’ union in its suit against management, Thursday, stating that regular bonuses should be counted in an employee’s base wage.The Seoul Central District Court ordered Kia, a unit of Hyundai Motor Group, to pay 422.3 billion won ($370 million) in “unpaid wages.” This is 39 percent of the 1.09 trillion won 27,424 the union asked for in the suit filed

Bareun Party leader in hot seat over illegal funding allegationBareun Party Chairwoman Lee Hye-hoon is in the hot seat over an allegation that she received illegal funds from a businessman in exchange for business favors.The prosecution said Friday it will begin looking into the allegation early next week as the businessman filed a petition with the prosecution Thursday. Rep. Lee said she did

Justice nominee steps down over dubious stock gainsLee You-jung, President Moon Jae-in’s pick for Constitutional Court justice, withdrew her nomination Friday over allegations of dubious gains from stock transactions.Lee has reaped 530 million won ($472,000) from trading a number of stocks listed on the Seoul bourse in the relatively short period of eight months, drawing suspicion she might

Conventional banks are slashing their interest rates on loans to individuals and households in response to the rapid rise of mobile banks, particularly Kakao Bank.Kakao Bank is not going to make a noticeable impact on the business of commercial lenders in the short term.However, analysts say the competition between them and the internet-only bank to lower rates and fees for customers will get