North Korea on Monday denounced a set of United Nations Security Council sanctions against Pyongyang's nuclear and missile tests as they are hampering the country's development in the sports field. Kang Ryong-gil, deputy secretary general of North Korea's Olympic Committee, told foreign reporters in Pyongyang that the sanctions "hinder the aspiration of North Koreans to develop sports," accordin...

Further improving the business environment in South Korea is key to upgrading the economic relationship between the Northeast Asian country and the United States to the next level, Washington's ambassador to Seoul said Friday. "The next phase of this economic relationship really needs to be focused on business environment here. (It needs) fair, predictable and transparent regulatory reform, crea...

South Koreans spend the most on weekends, the country's central bank data showed Saturday, as they spend more time with families and friends for eating out, travel and entertainment on weekends. A survey on 2,500 adults over the period of June and July found that South Koreans spend the most on Saturdays with 22.4 percent in terms of payment, followed by Sundays with 21.4 percent, according to t...

Large crowds of South Koreans were expected to march in the streets on Saturday, calling for the permanent removal of impeached President Park Geun-hye and extending the historically biggest protest movement in the country to Christmas Eve. The protest comes as a special prosecutor widens an investigation into a corruption scandal surrounding Park, which saw millions of people take to the street...

North Korea is seeking to conduct another nuclear test around South Korea's presidential election next year, a high-profile North Korean defector has said, in the latest sign that Pyongyang would not abandon its nuclear program despite growing international pressure. Thae Yong-ho, a former No. 2 official at the North Korean embassy in London, said North Korea's foreign ministry has sent document...

South Korea's justice ministry said Saturday that it has submitted its views on the recent parliamentary vote to impeach President Park Geun-hye to the Constitutional Court, adding that the process has met all the necessary legal requirements. On Dec. 9, the National Assembly voted 234-56 to impeach the president over her alleged involvement in corruption and influence-peddling scandals. It imme...

South Korea and Russia agreed Friday to work closely together to enforce UN Security Council sanctions on North Korea as the two countries held high-level strategic talks in Moscow, a senior South Korean diplomat said. South Korea's First Vice Foreign Minister Lim Sung-nam said he reached the agreement with Russia's First Deputy Foreign Minister Vladimir Titov, while reaffirming that the two cou...

South Korean stocks will likely remain in a tight range next week as investors are forecast to take the sidelines ahead of events such as the announcement of next year's economy policy plan, analysts said Saturday. The benchmark Korea Composite Stock Price Index lost 0.31 percent this week to end at 2,035.90 points on Friday. "The KOSPI is expected to stay between 2,020 and 2,060 points next we...

Unionized pilots of South Korea's No. 1 flag carrier Korean Air Lines Co. said Monday they will launch a 12-day strike later this month. The pilot union said it notified the company that its union members will lay down their tools from Dec. 20 to 31. They are likely to carry out the plan if the union and the management fail to reach an agreement on wage deals at their final negotiation session s...

The South Korean economy remains "on track" despite the influence-peddling scandal which rocked the country over past few weeks, an official from the Organization for Economic Co-operation and Development (OECD) said Monday. Randall Jones, the OECD's Japan and Korea desk head, said there has been no significant change in the country's stock and foreign exchange market in relation to the scandal ...

North Korea's foreign ministry said Monday its nuclear provocations followed what it calls "hostile acts" by the United States, apparently urging US President-elect Donald Trump to make more dovish gestures. According to the statement reported by Pyongyang's Korean Central News Agency monitored in Seoul, North Korea's foreign ministry said the US aimed to "overthrow" its system after the death o...

South Korea's two main policy lenders announced plans Thursday to provide Daewoo Shipbuilding & Marine Engineering Co. (DSME) with financial support worth a total of 3.2 trillion won (US$2.7 billion), urging the firm's labor union to refrain from taking collective actions and support its restructuring efforts. The Korea Development Bank (KDB), a main creditor of the troubled shipyard, said it wi...