South Korean athletes made a triumphant homecoming Monday following their record-setting performances at the Asian Winter Games in Japan. The main delegation of 72 athletes and officials in cross-country skiing, women‘s hockey and biathlon received a hero's welcome at Incheon International Airport. Athletes in sports that had concluded before Sunday‘s closing ceremony already returned home last ...

KB Securities Co., a major South Korean brokerage firm, is pushing for the sale of an asset management unit, industry sources said Monday. KB was born through a merger of Hyundai Securities Co. and KB Investment & Securities Co. early this year. KB also absorbed Hyundai Asset Management as an affiliate. (Yonhap) KB initially considered retaining the asset management company, which is known for...

Samsung BioLogics, a contract manufacturer of biologic drugs under Samsung Group, has denied accusations that it engaged in fraudulent accounting practices to boost its market valuation in seeking a public listing on South Korea’s main bourse Kospi last year. The move came after Rep. Sim Sang-jeung, chairwoman of the minor opposition Justice Party and local civic group People’s Solidarity for...

The Federation of Korean Industries, South Korea's largest business lobby, is now in a desperate search for a new chief, who will replace outgoing chairman Huh Chang-soo, but also keep the organization from falling apart, informed sources said Saturday. The search for a new chairman follows the withdrawal of membership by key conglomerates, including Samsung Group and Hyundai Motor Group. (Yonh...

South Korea's outbound shipments have continued to expand so far this month, government data showed Saturday, suggesting a possible recovery in exports following a downturn over the past two years. In the first 10 days of February, outbound shipments amounted to $15.1 billion, up 72.8 percent from the same period last year, according to data from the customs office. (Yonhap) An on-year increas...

South Korea completed the deployment of the latest upgraded model of Apache helicopters, a military official said Friday. The country had signed a $1.6 billion contract with the US in 2013 to buy 36 AH-64Es, an upgraded model of the AH-64D Longbow. An Apache helicopter (Yonhap) The AH-64E is a heavily armed helicopter featuring more powerful, fuel-efficient engines and enhanced rotor blades. ...

South Korea's defense ministry said Friday the pledges made by presidential hopefuls to reduce the mandatory service period in the military and abolishing the conscription system lack viability. As South Korea is still technically at war with the North, all able-bodied men between the ages of 18 and 35 must serve in the military for about two years under the existing system. Moon Jae-in, a pote...

Samsung Electronics Co. saw its earnings overwhelm other South Korean companies in 2016, data showed Friday, expanding its presence in the country's economy. The South Korean tech giant posted sales and operating profit of 201 trillion won ($172 billion) and 29.2 trillion won, respectively, in 2016, market data showed. (Yonhap) SK hynix Inc., the No. 2 player on the main bourse in terms of mar...

North Korea aired a broadcast of encrypted numbers on Friday, apparently aiming at sending messages to spies operating in South Korea. The coded radio broadcast began at 1:15 a.m. by the North's propaganda radio station Radio Pyongyang. The broadcast lasted for approximately 5 minutes. The announcer then said, "On page 428 number 51, on page 192 number 33, on page 260 number 41," followed by mo...

North Korea is currently purging the descendants of prominent guerrillas who fought against Japanese colonialists, a former North Korean embassy minister in London who defected to Seoul last year said Friday. During a meeting with officials from the Presidential Committee for Unification Preparation, former North Korean diplomat Thae Yong-ho claimed Kim Jong-un is currently purging the descendan...