South Korea has fourth-highest rate of relative poverty among OECD members

　South Korea ranked No. 4 among 38 global economies in terms of the percentage of its population living on less than half the median disposable income, data showed Oct. 25, reflecting significant wealth disparities in the country. 　According to the Organization of Economic Cooperation and Development, Asia’s fourth-largest economy posted a relative poverty rate of 16.7 percent in 2018-2019, the fourth-highest rate among its 38 member nations. In general, most OECD members are high-income

IMM Private Equity inks deal to buy stake in Hanssem

　IMM Private Equity said Oct. 25 that it has signed a binding term to become the largest shareholder of South Korean kitchen and interior furniture goods manufacturer Hanssem. 　Under a sales and purchase agreement, the third-largest buyout firm based in Seoul, with $5.4 billion in assets under management, will buy 6.5 million ordinary shares owned by sellers including founder Cho Chang-gul. The transaction will give IMM Private Equity rights to control a 37.8 percent stake in Hanssem. 　IMM Pr

Kakao Pay to speed up global expansion after IPO: CEO

Kakao-Ant joint venture readies entry to China, Asia, Europe through partnerships, acquisitions

[Market Eye] SK Telecom outlook rosy after spinoff, stock split: analysts

　The stock value of South Korea’s top wireless carrier SK Telecom could go up if the company’s nontelecom spinoff and 5-for-1 stock split plans take effect in November, analysts of major brokerage houses said Oct. 25. 　“The spinoff plan will boost SK Telecom’s corporate value. Its affiliated companies’ values will likely be reevaluated as well. ... We highly recommend investors to buy the stock before the trading suspension” ahead of the spinoff, Ahn Jae-min

Ahn Bo-hyun says global popularity of ‘My Name’ took him by surprise

The international fervor for the Netflix series “My Name” took actor Ahn Bo-hyun by surprise. “After the success of ‘Squid Game,’ I can definitely feel the change in the air and growing interest in Korean contents, “ Ahn said in an online interview with a group of reporters on Monday. ”I was surprised to hear that our series ranked third place on the global Netflix chart. Though global fans are cheering me and other actors on social media, witnessing th

Spanish writers talk about compromising an ideology to achieve a bigger goal

The winners of this year’s TV Movie Golden Bird Prize at the Seoul International Drama Awards talked about the main topic of their film, “Federica Montseny, the Woman Who Speaks”: compromising one’s ideology to achieve a bigger goal. The Spanish film, co-written by Russo Felsen Rafael Eduardo and Mireia Llinas Ventura, is based on a true story. It depicts the life of Spanish anarchist leader Federica Montseny (played by Marcia Cistero), who went on to serve as the countr

‘My Name’ gave me a chance to improve as an actor: Han So-hee

For Han So-hee, 26, taking a role in the Netflix series “My Name” made her improve as an actor with a wide range. “I thought the audience, including my fans, wanted to see the sides of Han So-hee that are already very familiar to them with the previous dramas like ‘The World of the Married’ and ‘Nevertheless’. But I wanted to find and show different sides of Han So-hee,” the actor said during an online interview with a group of reporters Wednesday

Capturing mundane routine in colorful illustrations

Author Kim Hyo-eun, winner of the 2021 World Illustration Awards’ Professional Children’s Publishing category, talks about discovering the extraordinary in the most ordinary scenes

Tesla’s battery shift highlights K-battery’s uncertain future

Li-ion-only portfolio missing out on diversifying needs, pressured in all fronts, experts say

Foreign-owned land in Korea increases 32% since 2011

SEJONG -- Land owned by foreigners in South Korea has reached an all-time high in terms of combined size, amid their active purchases of apartments or sites for business, such as manufacturing and leisure facilities, government data showed. According to the Ministry of Land, Infrastructure and Transport, foreigners owned 253.3 million square meters of land as of December 2020, which is the latest figure available. Though this accounts for less than 0.3 percent of the nation’s entire terri

US nationals could overtake Chinese as most numerous foreign visitors to Korea

Korea getting more visitors from US than China, Japan, Taiwan in 2021

Is a year-end spending spree on the horizon?

As Korea anticipates ‘living with COVID,’ businesses are counting on pent-up demand