The number of apartment complexes designated as no-smoking zones reached 158 across the country in April, government data showed Thursday, amid a growing number of health-conscious people joining the anti-smoking campaign. The law, which took effect Sept. 3, 2016, allows provincial governments to designate all or part of corridors, stairs and underground parking garages of apartments as no-smoking zones upon approval by at least half of the residents. A file photo of an apartment building in Che

Social Affairs June 29, 2017

Annual exports of South Korean health care and cosmetics goods surpassed the $10 billion mark for the first time in 2016, helped by strong overseas demand, the Ministry of Health and Welfare said Thursday.Outbound shipments of locally produced drugs, medical equipment and cosmetics reached $10.22 billion last year, up 19.1 percent from the previous year, the ministry said.The ministry said South Korea witnessed an average annual export growth of 19.4 percent between 2012 and 2016. (Yonhap)Export

Industry June 29, 2017

LG Electronics Inc. said Thursday it will supply its advanced driver-assistance system cameras to a premium German carmaker, tapping deeper into the vehicle components business.Through the deal, the South Korean company will supply camera modules and software to its German counterpart. LG did not reveal the name of the partner, citing business confidentiality.LG said the camera will help users drive safely by detecting various objects surrounding cars and maintaining optimal distance with other

Technology June 29, 2017

South Korean retailers saw their sales fall slightly this month, industry data showed Thursday, despite steady improvements in consumer sentiment. Lotte Department Store, the country's leading top-end retailer, said its sales fell 1.3 percent from a year earlier in the June 1-27 period.  This photo provided by leading retail chain Lotte Department Store on June 28, 2017, shows its store in the southeastern city of Busan.Its rival Hyundai Department Store also saw its revenue from the same period

Industry June 29, 2017

The debt burden of South Koreans in their 20s and 30s has grown at the fastest pace among all age groups over the past three years amid a spike in household debt, central bank data showed Thursday.The so-called loan-to-income ratio for 20-somethings and 30-somethings has risen 36.2 percent over the three years, meaning their debt has gained at an annual average rate of 12 percent amid stalled income growth, according to the data from the Bank of Korea. Yet the LTI for the young Koreans came to 1

Economy June 29, 2017

Samsung Electronics Co. said Thursday its flagship Galaxy S8 and Galaxy S8 Plus smartphones were given top honors during the Mobile World Congress Shanghai 2017.The South Korean tech giant said the GSMA, a global body of mobile carriers, named the flagship devices as the "Best Smartphones" during the electronics fair. (Yonhap)Samsung said the GSMA praised the smartphones' unique design and distinctive features.The devices feature high-resolution displays that bend on both sides and come with var

Industry June 29, 2017

Russia's state antitrust body indicted LG Electronics Inc.'s Russian arm on allegations that the South Korean company fixed smartphone prices, industry sources said Thursday.According to Russia's Tass news agency, the authority claimed that LG Electronics RUS used a special monitoring system on retailers to control smartphone prices. (Yonhap)The South Korean tech giant is expected to face massive fines if the allegations turn out to be true.LG Electronics RUS said other companies also use monito

Industry June 29, 2017

Samsung Display Co. maintained its status as the world's No. 1 smartphone display maker in the first quarter, market data showed Thursday, apparently helped by robust shipments of flexible organic light-emitting diode products.According to the data compiled by industry tracker IHS Markit, the combined global sales of LCD and OLED displays that are 9 inches or smaller came to $13 billion in the January-March period, up 35 percent from a year earlier. (Yonhap)Samsung Display posted sales of $3.5 b

Industry June 29, 2017

South Korean manufacturers' business sentiment for July worsened from this month as local companies expect a slight decline in domestic demand and exports, central bank data showed Thursday.The business survey index of manufacturing firms came to 80 for next month, down from 84 in June, according to the Bank of Korea. A reading below 100 means pessimists outnumber optimists, while a reading above the benchmark means the opposite.An index measuring local firms' sentiments toward exports came to 8

Economy June 29, 2017

WASHINGTON -- The United States and South Korea are united in efforts to bring North Korea under control, US Secretary of State Rex Tillerson said Wednesday.At the start of his first meeting with new South Korean Foreign Minister Kang Kyung-wha, Tillerson was asked if the two countries are "on the same page on reining in North Korea" and responded, "Of course."No further details of their discussions were immediately available. Foreign Minister Kang Kyung-wha shakes hands with US Secretary of Sta

North Korea June 29, 2017

South Korean shares opened higher Thursday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 12.14 points, or 0.51 percent, to 2,394.70 in the first 15 minutes of trading. The index hit a fresh intra-day record high of 2,397.95 at one point. Most large caps traded mixed with market kingpin Samsung Electronics gaining 1.26 percent.Top automaker Hyundai Motor fell 0.62 percent, while top steelmaker POSCO rose 0.53 percent.The local currency was tra

Market June 29, 2017

AIR FORCE ONE -- South Korean President Moon Jae-in on Wednesday said reducing his country's joint military exercises with the United States was not an option for now, though it may be considered following what he called irreversible and verifiable steps by North Korea to denuclearize."First of all, the official position we have now is that North Korea's nuclear freeze and reduction of joint military exercises between South Korea and the United States cannot be linked," Moon said."That has been

Defense June 29, 2017

WASHINGTON -- The deployment of the US THAAD missile defense system won't be a major topic for this week's summit talks between President Moon Jae-in and US President Donald Trump, a senior White House official said Wednesday."President Moon has been very clear in recent days. His government and his new foreign minister have been clear in stating their view that there is a process involved in completing the deployment of that system. They've both said that they don't see that should not be equat

Foreign Affairs June 29, 2017