Most Popular
-
1
10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
-
2
Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
-
3
Second Gimpo civil servant found dead, after apologizing for not finishing work
-
4
DP leader says he will meet Yoon without conditions
-
5
First-ever meeting of president, opposition chief set to finally happen
-
6
NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
-
7
Experts raise concerns about Japan putting pressure on Naver over Line
-
8
Samsung mobile chief, Google device head meet in Seoul
-
9
Blinken calls on China to press N. Korea to end its 'dangerous' behavior
-
10
Ship linked to NK arms shipments to Russia is moored in China: State Dept.
-
Hyundai’s Ioniq 5 scores higher than Mercedes-Benz EQB on AutoBild review
Hyundai Motor Group said Friday that its flagship electric model Ioniq 5 has received a higher score than Mercedes-Benz EQB from German automotive magazine AutoBild’s review. The carmaker said AutoBild compared the two models based on seven categories -– body, comfort, powertrain, driving dynamics, connected car, environment and cost -– along with 53 subcategories. Out of 800 points, Ioniq 5 received 582 points, 20 points more than the EQB. Ioniq 5 received higher poin
March 4, 2022
-
[Graphic News] S. Korean film market shrinks for 2nd year in a row in 2021 amid protracted pandemic
South Korea’s filmmaking industry contracted for a second straight year in 2021 due mainly to the yearslong COVID-19 pandemic, government data showed. The aggregated revenue of the local film market, which includes domestic sales of movie tickets, online releases and exports, reached 1.02 trillion won ($855 million) last year, according to data from the Korean Film Council. It is a slight on-year decrease from the previous year’s 1.05 trillion won but marks plunge from 2.
March 4, 2022
-
Seoul stocks open lower amid Ukraine uncertainties
South Korean stocks opened lower Friday tracking overnight plunges on Wall Street that stemmed from rising tensions in Ukraine. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 19.79 points, or 0.72 percent, to 2,727.29 points in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq composite lost 1.56 percent and the Dow Jones Industrial Average declined 0.29 percent, largely on concerns that the war in Ukraine may push up the commodity prices and peg the global eco
March 4, 2022
-
S. Korea to extend fuel tax cuts by 3 months amid soaring energy prices
South Korea will extend fuel tax cuts by three months as the country is striving to ease the burden on consumers and a build-up of inflationary pressure, the country's top economic policymaker said Friday. On Nov. 12, the government lowered fuel taxes by a record 20 percent in a bid to tame inflationary pressure. The tax reduction was set to expire at the end of April. The government decided to keep the fuel tax cuts in place for three more months until end-July amid concerns that the war in U
March 4, 2022
-
Inflation growth hits over 3% for 5th month in Feb. amid soaring oil prices
South Korea's consumer prices grew more than 3 percent for the fifth straight month in February as energy costs spiked amid the Ukraine crisis, data showed Friday. The consumer prices rose 3.7 percent on-year last month, compared with a 3.6 percent on-year gain in January, according to the data compiled by Statistics Korea. The country's consumer inflation has grown more than 3 percent since October last year. Inflation growth stayed above 2 percent -- the central bank's inflation target over
March 4, 2022
-
Foreign reserves up in Feb. on increased dollar-converted value, investment profits
South Korea's foreign reserves expanded for the first time in four months in February thanks to a rise in dollar-converted value of holdings and other investment profits, central bank data showed Friday. The country's foreign reserves stood at $461.8 billion as of end-February, up $240 million from the previous month, according to the data provided by the Bank of Korea (BOK). This marked the first on-month growth following three previous months of declines in foreign reserves. The February rise
March 4, 2022
-
[MWC 2022] Science Minister signs MOU with GSMA for metaverse cooperation
BARCELONA, Spain -- The South Korean Minister of Science and ICT Lim Hye-sook said the government signed a memorandum of understanding with GSMA, host of the Mobile World Congress 2022, to support mutual interests in the metaverse and its ecosystem development. Under the agreement, the ministry will share information in regard to the progress of the metaverse ecosystem in Korea with GSMA. In return, GSMA is set to present Korea to its members and developers around the world so that Korean busin
March 3, 2022
-
CJ delivery workers to resume work next week, ending two-month strike
A labor union strike at CJ Logistics has finally come to an end, after causing delays and disruptions in parcel deliveries across the nation for nearly two months. Unionized members will return to work Monday, after signing a new employment contract Saturday that reflects measures on improving working conditions, the firm’s labor union announced Thursday. CJ delivery workers that participated in the industrial action, which began Dec. 28, demanded that management implement previously a
March 3, 2022
-
Seoul shares up for 4th day on Fed chair's comment
South Korean stocks extended their winning streak to a fourth straight session Thursday, as US Federal Reserve chairman signaled a rate hike within market expectations amid soaring global commodity prices. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 43.56 points, or 1.61 percent, to close at 2,747.08 points. Trading volume was moderate at about 607 million shares worth some 10.5 trillion won ($8.7 billion), with gainers outnumbering lo
March 3, 2022
-
[Market Eye] Shinsegae-Lotte rivalry heads to winemaking
The old rivalry between Shinsegae and Lotte looks set to head to winemaking. The nation’s top two retail giants who also are the major importers of cheaper casual wines are gearing up to produce high-priced premium wines on their own. Shinsegae Property, the group’s property development arm, acquired US winery Shafer Vineyards for 299.6 billion won ($250.3 million) last month. The 80-hectare vineyard is known for luxury wines like Hillside Select, whose price tag is around 860,000
March 3, 2022
-
High oil prices deepens woes for air carriers
South Korea’s aviation industry is set to take another hit after years of pandemic losses, as oil prices are soaring amid the escalating Ukraine conflict, driving up their fuel prices and operating costs overall. According to the air industry on Thursday, Brent crude oil jumped $5.93 to $111.19 per barrel on Wednesday night, its highest level since July 2014. The reason behind the price increase is due to a high possibility that western countries including the US might impose sanctions
March 3, 2022
-
Coupang posts record sales, but also higher operating losses
South Korea’s e-commerce giant Coupang said Thursday that it posted $18.4 billion (22.1 trillion won) in sales last year, a record not just for the company, but also for a local e-commerce operator. The figure jumped 54 percent from a year ago. In the fourth quarter alone, its sales soared to $5 billion. Coupang said its record has surpassed the sales of the country’ top retailer Shinsegae and its subsidiaries -– Emart, SSG.com, eBay Korea, and G Market -– whose sale
March 3, 2022
-
Ukraine conflict poses unpredictable risks to Korean economy: official
SEJONG -- Vice Finance Minister Lee Eog-weon said Thursday the Ukraine-Russia conflict could have a “long-term” negative effect on the South Korean economy, and that the extent of coming impacts is unpredictable at the current stage. During a task force meeting in Seoul, Lee said the uncertainty from the geopolitical risk has expanded in the wake of the Russian invasion of Ukraine and as the international community continues to pile on sanctions against Russia. “It has gradua
March 3, 2022
-
Of 4 million sales goal, Kia wants green cars to fill in the half
Kia Motors, a sister company of Hyundai Motor, is aiming to sell 4 million vehicles globally by 2030, with half of them being eco-friendly models, the company said on Thursday. The carmaker will expand the portion of electric vehicles and hybrids in overall sales from the current 17 percent to 52 percent by 2030. For markets with state-supportive policies for EVs –- Korea, North America, Europe and China -- Kia said it will pull up its EV and hybrid sales portion up to 78 percent by 2030
March 3, 2022
-
Pokemon Bread stages strong comeback
Pokemon Bread, an iconic pastry series with kids of the 1990s, has been flying off the shelves since its return last week. Manufacturer SPC Samlip said Thursday, it had sold 1.5 million of the rolls over the previous week, six times more than the first week sales of the company’s average for a new product. The key to success lies in tapping into millennials’ nostalgic tendencies. Released in 1999, Pokemon Bread took the youth of the time by storm. The roll wasn’t the main
March 3, 2022
-
[MWC 2022] Korean telcos ready to set new standard in 5G network
BARCELONA, Spain -- South Korea is on course to become the first country in the world where its mobile carriers scale up its 5G network capacity to more than 100 MHz-bandwidth for a single operator. At the Mobile World Congress 2022 exhibitions, three network equipment suppliers -- Huawei Technologies, Ericsson-LG and Nokia -- unveiled the most recent updates of their 5G equipment. Representatives say these could help Korean telcos improve the quality of 5G delivery by doubling the bandwidth o
March 3, 2022
-
Samsung Electronics memory chip fastest in the world
Samsung Electronics said Thursday that its next-generation memory chip set a world record on speed. According to the South Korean tech giant, its LPDDR5X memory chip operated at 7.5 gigabits per second, the fastest speed among memory chips in the market. Short for low power double data rate 5X, the LPDDR5X chip performed at the record speed on Qualcomm’s latest Snapdragon mobile platform. Unveiled in November, the chip was manufactured with 14-nanometer technology. Compared to the prev
March 3, 2022
-
[MWC 2022] LG U+ CEO pledges to export XR content to Middle East
BARCELONA, Spain -- LG U+ will export virtual reality content to Zain Group, a mobile carrier in the Middle East with more than 50 million users, in its effort to take initiative in the burgeoning global XR market. During a press conference held at the Mobile World Congress 2022 in Barcelona on Wednesday, local time, LG U+ CEO Hwang Hyun-sik said the South Korean telco will aim to sell content to Zain Group, Oman’s No. 1 mobile carrier Omantel and Malaysia’s No. 3 player Celcom. &l
March 3, 2022
-
Disclosure rule violations more than halve in 2021
The number of regulatory disclosure rule violations by firms in South Korea more than halved in 2021 from a year earlier amid stepped-up efforts to protect investors from misleading or false information, data showed Thursday. According to the data from the Financial Supervisory Service, there were 87 cases of regulatory filing rule violations last year, which involved a total of 73 listed and unlisted firms. The figure was sharply down from 193 violations a year earlier and marked the lowest sin
March 3, 2022
-
Online shopping up nearly 12% in Jan. amid COVID-19 pandemic
Online shopping in South Korea rose 11.5 percent in January from a year earlier, with the proportion of transactions via mobile devices reaching a record high, amid the prolonged COVID-19 pandemic, data showed Thursday. The value of online shopping transactions stood at 16.54 trillion won ($13.74 billion) in January, compared with 14.84 trillion won recorded a year earlier, according to the data from Statistics Korea. But the figure marked a 7.1 percent fall from the previous month when the figu
March 3, 2022