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POSCO's Rust-free Steel Fast Becomes Future Growth Engine

Rust-free steel has emerged as POSCO’s new growth engine. The sales of the steel maker’s “PosMAC” (POSCO Magnesium Aluminium alloy Coating product) have tripled for the past two years, with exports accounting for most of the sales. The company said on May 26 that it is currently building frefab dormitory made of PosMAC in Pyeongchang in preparation for the 2018 Winter Olympics. The building consisting of 30 rooms will host journalists from all over the world for the Olympics. The building mad… …

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Former Ambassador to US Hyun passes away

South Korea’s former Ambassador to the US Hyun Hong-choo, noted for his active role in expanding Seoul’s diplomatic fron …

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[Photo] They are still members of the cabinet

President Moon Jae-in grabs on to the arm of Finance Minister Yoo Il-ho as Yoo makes opening remarks at a luncheon of ministers, at the Blue House on May 26. Moon told Yoo he could remain seated as he.. …

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(LEAD) G-7 says N. Korea poses threat of 'grave nature': reports

(ATTN: UPDATES with Seoul foreign ministry’s reaction in paras 6-7) SEOUL, May 27 (Yonhap) — The Group of Seven (G-7) member countries on Saturday said North Korea poses an increasing threat to the peace and stability of the international community, …

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Today's Photo: May 27, 2017

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S. Korean Fishing Vessel Appears Hijacked in Somali Waters

[Politics] : S. Korean Fishing Vessel Appears Hijacked in Somali Waters[more…] …

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Moon expresses wish to meet Facebook CEO to discuss online communication

SEOUL, May 27 (Yonhap) — South Korea’s President Moon Jae-in on Saturday expressed his wish to meet Mark Zuckerberg, the CEO of Facebook, soon to discuss how to more effectively communicate with people online, his office said. The president posted …

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Gov't to make presidential sustainability panel

The Moon Jae-in government will make a presidential panel to map out a long-term environmental road map and coordinate p …

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BOK Stresses Income-driven Growth, in Line with the New Government's Stance

Lee Ju-yeol, Governor of Bank of Korea, stressed job security as one of the central bank’s main roles on May 25. He also said he would review an idea of switching dispatched workers to regular employees within the bank. This move is consistent with the new Moon Jae-in administration’s policy goals that focus on job creation and shift of non-regular workers into regular ones. In a meeting held right after the main meeting of the bank’s Monetary Policy Committee, Lee said that … …

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Kim Jong-un Has No 'Good Intentions'

The comments that stirred up the biggest controversy during the last presidential election campaign were made by South Chungcheong Province Governor An Hee-jung, who said former presidents Lee Myung-bak and Park Geun-hye pursued their policies with “good intentions.” Frontrunner Moon Jae-in’s camp r… …

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Advisory Panel Head Seeks to Delay Taxation on Clergy

[Politics] : The new administration is reportedly seeking to postpone a plan to tax South Korean clergy. The …[more…] …

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Moon's special envoy says ASEAN leaders support Seoul's denuclearization policy

INCHEON, May 26 (Yonhap) — President Moon Jae-in’s special envoy to the 10-member Association of Southeast Asian Nations (ASEAN) said Friday that leaders of the regional bloc voiced support for South Korea’s policy for the North’s denuclearization. …

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“It’s not just the president. We’re team players” ; Blue House secretariat meetings changing under Pres. Moon

President Moon Jae-in: “Senior secretaries’ and aides’ meetings are settings for communicating, sharing, and making decisions.” Chief of Staff Im Jong-seok: “Can we express disagreements with the pre.. …

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Parliament fails to adopt confirmation hearing report on PM nominee

The National Assembly failed Friday to adopt a report on the results of its confirmation hearing for Prime Minister-nomi …

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President Moon calls Indonesian counterpart

President Moon Jae-in has affirmed that during talks over phone with his Indonesian counterpart on May 25 both countries agreed to continue to expand cooperation. (Cheong Wa Dae) By Sohn JiAe …

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NPS to Boost Share of Stocks in Its Investment Portfolio

The National Pension Service plans to inject 50.7 trillion won more into stock markets in and outside Korea, including 20.2 trillion won for the domestic stock market. The Ministry of Health & Welfare held an NPS steering committee meeting on May 25 where it confirmed the fund operation plan for 2018 and the mid-term asset allocation plan until 2022. Under these plans, the ministry intends to drive the National Pension Service toward increasing the share of stocks in its investment… …

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Movie "The Day After" by Hong Sang-soo in Running for Top Award at Cannes

[Culture] : The halfway point has passed at the Cannes Film Festival and reviews about the competitive films are pouring in. South Korean director Hong Sang-soo’s movie “The Day After” is getting rave reviews and all eyes are on whether the film will win the coveted top award.[more…] …

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Hyundai Unveils Its 1st Electric Bus

Hyundai on Thursday unveiled its first ell-electric bus, which will be launched next year.Korea’s biggest carmaker unveiled the punningly named Elec City in Goyang north of Seoul.Eight years in development, the bus uses a 256 kWh lithium-ion battery and can travel up to 290 km on a single charge.Hyu… …

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(EDITORIAL from Korea JoongAng Daily on May 25)

Demanding unjust rewards Since the launch of the Moon Jae-in administration, the Blue House and ruling Democratic Party are wrestling with petitions from the belligerent Korean Teachers and Education Workers’ Union (Ktewu) and the Korean Confedera …

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UN-affiliated group decries “arbitrary detention” of S. Korean labor leader

The Working Group on Arbitrary Detention (WGAD), which is affiliated with the Office of the UN High Commissioner for Human Rights (OHCHR), described the detention of Han Sang-gyun, president of the Ko.. …

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