Bankruptcies soar by over 10% as pandemic takes toll

Personal and corporate bankruptcies in South Korea increased by more than 10 percent last year, data showed Sept. 27, reflecting the economic impact of COVID-19 on both businesses and households. According to the report released by the National Court Administration, the number of personal bankruptcies filed in 2020 rose by 10.4 percent from the previous year, from 45,654 cases to 50,379 cases. Last year’s tally was the biggest figure since 2015. After hitting a record high of 150,439 c

Small media stocks surge on ‘Squid Game’ bonanza

Small-cap stocks related to the local media and entertainment business are on a bull run, as traders hoped to piggyback on the success of the Netflix megahit “Squid Game.” Content production firm Bucket Studio saw its stock price nearly double over the course of three trading days, since the stock market reopened Sept. 23 following the national Chuseok holiday. Last week, Bucket Studio hit the price ceiling on both Sept. 23 and Sept. 24, and rose 2 percent Sept. 27. Its market cap

29 crypto exchanges meet registration deadline, but face challenges

　Twenty-nine of Korea’s 66 cryptocurrency exchanges met a legal deadline to put themselves under regulatory supervision, but they still face challenges, market insiders said on September 26, such as risks from legal breaches and an inability to convert coins into Korean won. 　The Financial Services Commission said on September 25 that 29 exchanges submitted applications to register their businesses by September 24 and will process them within three months, legitimizing their status as ma

Surging energy bills spark concerns of inflation

　South Korea’s recent decision to raise electricity prices for the first time in nearly a decade and an expected price surge in home gas is likely to increase inflationary pressure, industry watchers said on September 26. 　Electricity and home gas prices, which are key components of “public utility charges” -- fees related to the supply of electricity, gas, power, water and transport -- usually help lower inflationary pressure, with their relatively flat price gains. But the C

CIX ready for new journey with first studio album

We know that a K-pop idol group is on the right track when they set the bar higher with every comeback. For quintet boy band CIX, the recent release of their first studio album “‘OK’ Prologue: Be OK” was more than enough to prove to the world and to themselves that they were heading the right way. One of K-pop’s up-and-coming boy bands, CIX made a splash with the 10-track album on Aug. 17, instantly placing five tracks on the top of Bugs’ real-time chart and

Improving R&D productivity crucial amid growing tech competition: IP agency chief

Korea’s IP agency chief vows to strengthen patent protection and support R&D in patent licensing

Cars are going electric. What about ships and airplanes?

Neste, a Finnish oil refiner and the world’s largest producer of renewable diesel and sustainable aviation fuel, calls for a greater diversity of fuels for an inclusive green transition

SK Functional Polymer seeks to stay ahead of curve in green technology

　SK Functional Polymer is a Paris-based subsidiary of petrochemical company SK Geo Centric that produces thermoplastic materials used in packaging and automotive industries. 　Pascal Sauvaire, chief operating officer of SK Functional Polymer, says the most important thing for the company is “to stay ahead of the curve in terms of green technology, trends and solutions.” 　“Recycling and the green economy have been the main trends in the packaging industry for some time,”

Key takeaways from S. Korea’s missile tests

The recent missile tests President Moon Jae-in oversaw and praised marked a milestone that experts say shows a rapidly growing South Korean missile capability. Here are key takeaways on what it means for North Korea and foreign powers. Fending off North Korea South Korea is the first non-nuclear state to have tested a submarine-launched ballistic missile. SLBMs -- which have also been developed by China, France, India, Russia, the UK and the US -- are designed to deliver a fatal second strik

Number of foreigners in Korea up for 1st time in 20 months

But with increase of less than 1 percent tally still stuck at mid-2016 level

Metaverse: the new gold rush

From virtual shops, promos to staff training, companies rush to have something virtual

Moon holds rare inflight news briefing

President says North Korea still maintains its self-moratorium on nuclear testing and ICBM launch, leaving door open for dialogue