South Korea's national pension fund operator on Friday decided its official stance on a merger between key subsidiaries of Samsung Group, the country's leading family-controlled conglomerate, but won't disclose what the stance is for the time being, officials said.But sources say that the operator decided to support the merger considering its potential influence on the fund's earning rates.The National Pension Service decided on whether to support or oppose the merger between Samsung C&T Corp. a

Industry July 10, 2015

ATHENS (AFP) - Greece on Wednesday promised it would start pension and tax reforms next week, as demanded by creditors, in return for a three-year eurozone loan to drag its financial system back from the brink of collapse."We propose to immediately implement a set of measures as early as the beginning of next week including: tax reform related measures; pension related measures" if the loan from the European Stability Mechanism (ESM) was forthcoming, the finance ministry said in a letter to the

World Business July 8, 2015

A senior South Korean Navy official was arrested Friday in a widening probe into alleged corruption in connection with the country's arms procurement projects.A military court issued an arrest warrant for the officer with the rank of rear admiral, only identified by his family name Park.He is charged with pressing his subordinates in 2012 to doctor a report on the operational capability of the AgustaWestland AW159 Wildcat, a multi-mission maritime helicopter.It participated in South Korea's nava

Defense June 6, 2015

President Park Geun-hye on Friday urged people suspected of being infected with MERS to remain in self-quarantine, saying the government is making its utmost efforts to contain the disease."The top priority is to stop the spread of the infection of the Middle East Respiratory Syndrome," Park said in a meeting with health care workers at the National Medical Center in Seoul.The visit underscored the urgency in combating the virus that has killed four South Koreans and sparked a widespread public

Politics June 6, 2015

South Korea's top economic policymaker said Friday that the country's economy will likely grow just over 3 percent this year due to some trouble in exports.At a meeting attended by more than 60 investors in London, Finance Minister Choi Kyung-hwan said the slower than anticipated growth is due to a drop in global trade that has offset steady gains in domestic consumption.The government had originally targeted 3.8 percent growth as being attainable this year, up from 3.3 percent reached in 2014.T

June 6, 2015

The United States has extended a visa waiver program for South Korea for two years again, the Foreign Ministry said Friday.It would enable South Koreans to continue to travel to the U.S.for tourism or business without obtaining a visa for stays of up to90 days."The U.S. government informed (us) through its embassy in South Korea that our country's Visa Waiver Program member status has been extended again until March 2017," it said in a press release.South Korea, a key regional ally of the U.S. f

Foreign Affairs June 6, 2015

WASHINGTON (AP) -- Declaring ``history is harsh,'' Prime Minister Shinzo Abe of Japan offered solemn condolences Wednesday for the Americans who died in World War II as he became the first Japanese leader to address a joint meeting of Congress.``My dear friends, on behalf of Japan and the Japanese people, I offer with profound respect my eternal condolences to the souls of all American people that were lost during World War II,'' said Abe.But as he did at a news conference Tuesday with President

Foreign Affairs April 30, 2015

The Korean government is considering declaring the areas connected to the deadly ship sinking on Wednesday special disaster zones. "There is a need for swift, government-level support for the area as physical and emotional damages to Ansan city and Jindo-gun are growing," an official from the Prime Minister's office said Saturday.Ansan is the location of the high school attended by the 325 students aboard the sunken ship. Only 75 out of the 325 students have been rescued with the remaining 250 s

Social Affairs April 19, 2014

The arrested captain of the ferry that capsized sank off Jindo Wednesday, leaving more than 300 missing or dead, defended his decision to delay its evacuation,Lee Joon-seok, 68, was arrested early Saturday on suspicion of negligence and abandoning people in need. Two crew members also were taken into custody, including a mate who a prosecutor said was steering in challenging waters unfamiliar to her when the accident occurred.Dressed in dark raincoats with their hoods pulled up, the three kept t

Social Affairs April 19, 2014

North Korea on Friday criticized the South Korean leader by name and reiterated its resolve to simultaneously develop its nuclear capability and economy, a goal that President Park Geun-hye has said is doomed to fail.The North said that all efforts by Park and her cohorts to join forces with foreign powers and strive to denuclearize the North will only end in failure, according to a statement by the North's National Defense Commission. It said such a move amounts to perpetrators "digging their o

North Korea Oct. 4, 2013

South Korea plans to wait and see how Japan's move to win the constitutional right to strengthen its military will affect Seoul's national interests, government sources said Friday.South Korea's stance on the issue came after United States Secretary of State John Kerry and Secretary of Defense Chuck Hagel signed a landmark agreement with their Japanese counterparts on Thursday in Tokyo. The two countries pledged to further tighten their military cooperation and renew their bilateral defense coop

North Korea Oct. 4, 2013