South Korea News

Apparently the reform is a response to inflation which has made the old currency of limited value. However as the article notes people holding the old currency will lose a lot as a result of the change. The top leaders...

The South Korean military is keeping a close eye on reports of unrest in neighboring North Korea, sources say. Local and international reports have indicated the North Korean military was put on heightened alert after a sudden currency revaluation by...

After a three-year wait, Boeing has finally secured a second airline to buy the passenger version of its forthcoming 747-8, the new version of the jumbo jet. Friday in Seoul, Korean Air announced a "memorandum of understanding" with Boeing that...

South Korea's economy expanded 3.2 percent in the third quarter, the central bank said Friday, a better performance than initially estimated amid stronger growth in manufacturing, exports and services. The revised figure for the three months ended Sept. 30 compared...

A pro-Pyongyang newspaper confirmed on Friday the secretive North has revalued its currency, a move analysts said was aimed at curtailing a burgeoning market economy and clamping down on merchants. The communist North's official media has kept mum over widespread...

Railway workers, now supported by truckers, declared a strike on Nov 26 that has reduced many internal cargo shipments to less than a third of normal levels. Their protests come as the president, Lee Myung-bak, is vowing to sap the...

A spokesperson said two of the five injured were seriously hurt by the blast, which happened when artillery shells were being tested. Yonhap news agency, which earlier reported about 60 casualties, said later one person was killed and five injured...