Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Export prices up for 10th straight month in September
South Korea's export prices gained for the 10th straight month in September, driven by price hikes of energy and chemical products, central bank data showed Thursday. The country's export price index stood at 114.18 in September, up 1 percent from the previous month, according to the preliminary data from the Bank of Korea (BOK). The figure represented the 10th straight month of an on-month rise. From a year earlier, the index jumped 20.2 percent, the eighth consecutive on-year growth, the dat
Oct. 14, 2021
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At G-20 meeting, Korea‘s fiscal chief stresses expansionary policy
South Korea’s Economy and Financial Minister Hong Nam-ki has said that the government will keep expansionary policies next year as the country eyes an economy recovery and return to “normal life” out of the COVID-19 pandemic. “We’re gradually preparing to go back to normalcy by increasing the vaccination rate and the country’s central bank is gradually adjusting its accommodative monetary policy,” Hong, who also doubles Deputy Prime Minister, told Kr
Oct. 13, 2021
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S. Korea’s first metaverse-themed ETFs listed
Four metaverse-themed exchange-traded funds went listed for the first time on the country’s stock markets on Wednesday, betting on growing interest in the new IT platform. The four ETFs are KB Asset Management’s KBSTAR iSelect Metaverse, NH Amundi Asset Management’s Hanaro Fn K-Metaverse MZ, Mirae Asset Global Investment’s Tiger Fn Metaverse, and Samsung Asset Management’s KODEX K-Metaverse Active. Samsung Asset’s ETF product is an actively managed fund,
Oct. 13, 2021
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Is injection technique responsible for vaccine side effects?
Wrongly administering COVID-19 vaccines into blood vessels instead of the muscles could be behind the serious side effects, some studies have suggested. An Aug. 2 report published by the Journal of Korean Medical Sciences is one of the first in the country to suggest that technique known as aspiration -- which is pulling back on the syringe plunger before injecting the vaccine to ensure no blood vessel is accidentally punctured -- may provide better chances of avoiding side effects. The rep
Oct. 13, 2021
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[News Focus] Hyperlocal e-commerce platforms taking off amid disputes over taxation
Trading of secondhand goods is nothing new. But when it is combined with a convenient mobile app and hyperlocal community functionalities, something radically different can be envisioned. A striking case in point is the soaring success of Danggeun Market, a startup which has popularized hyperlocal e-commerce app Karrot. “Danggeun,” which means carrot as well as an abbreviation for “in your neighborhood” in Korean, is now a symbol of mobile secondhand item trading here.
Oct. 13, 2021
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Samsung likely to make Galaxy Flip3 ‘Bespoke’
Samsung Electronics may debut Galaxy smartphones with the “Bespoke” concept, which would allow users to customize device designs to suit their personal tastes. “Our users are multifaceted and live life in so many colorful, interesting, and unique ways,” the South Korean tech giant said in an invitation sent out to global customers and media for an additional event for the Galaxy family on Oct. 20. “As such, the technology they use every day should reflect thei
Oct. 13, 2021
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EuBiologics files for phase 3 study of homegrown COVID-19 vaccine
EuBiologics has asked for the Ministry of Food and Drug Safety’s approval on its plan to conduct a phase 3 clinical trial of its self-developed COVID-19 vaccine candidate, becoming the second South Korean company to reach that stage in the race to develop homegrown vaccines. According to the company’s regulatory filing on Wednesday, the clinical study of its vaccine candidate EuCorVac-19 will involve 4,000 participants. The safety and efficacy of the vaccine will be evaluated throu
Oct. 13, 2021
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Export-Import Bank signs MOU with Greek shipping company to finance new orders
The Export-Import Bank of Korea said Wednesday it signed an memorandum of understanding with Angelicoussis to provide financial assistance for South Korean shipbuilders securing fresh orders of eco-friendly fleets from the Greek shipping company. Aimed at supporting Korean shipbuilders in securing overseas orders, Korea Exim Bank Chairman Bang Moon-kyu visited Angelicoussis headquarters in Kallithea on Friday, according to officials. The financial assistance will be carried out to Korean build
Oct. 13, 2021
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[From the Scene] Firms offer carbon neutrality answers
Banners reading “No photos allowed” in bold letters are clearly placed right next to prototypes of Hanwha Q Cells’ next-generation tandem solar cells. Despite the warning, visitors couldn’t resist taking out their smartphones to take photos of the black, rectangular chips slowly rotating inside glass spheres. At the Net Zero Expo, the nation’s biggest energy exhibition that kicked off at Kintex in Ilsan, Gyeonggi Province, on Wednesday, it was clear that the thi
Oct. 13, 2021
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Technical regulations biggest challenge for foreign-invested firms: KCCI
Foreign-invested firms say technical regulations along with fair trade and labor laws are some of the biggest management challenges, the Korea Chamber of Commerce and Industry said on Wednesday. Nearly 1 in 2 foreign-invested firms based in South Korea said technical regulations such as certification, tests and inspection were the biggest challenge facing their business, according to a survey conducted by the KCCI with 252 foreign-invested companies. Technical regulations refer to administrati
Oct. 13, 2021
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Franchise stores enjoy bump in numbers
Franchise stores grew in numbers during the coronavirus pandemic last year though sales remained nearly unchanged, a new report from corporate tracker CEO Score showed Wednesday. The number of franchise brand stores in 2020 increased by 4,559, up 4.5 percent compared to 2019, according to the report which drew data from the Fair Trade Commission. With a total of 105,837 stores operated by top franchise brands last year, the figure was a 11.1 percent jump compared to 2018 when the number stood
Oct. 13, 2021
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Seoul stocks rebound on tech, auto gains
South Korean stocks advanced nearly 1 percent Wednesday as investors sought to buy oversold stocks such as tech and auto shares after a sharp plunge the previous session. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 28.03 points, or 0.96 percent, to close at 2,944.41 points. Trading volume was moderate at about 743 million shares worth some 12.1 trillion won ($10.1 billion), with gainers outnumbering losers 700 to 168. Foreigners sol
Oct. 13, 2021
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S. Korea sees largest job growth in 7 years over surge in contactless services, vaccinations
South Korea’s economy added the largest number of jobs in more than seven years in September, government data showed Wednesday, with officials citing a surge in contactless services backed by digitalization of industries and high vaccination rate as key catalysts. The economy added 671,000 jobs on-year to 27.68 million in September, Statistics Korea data showed. This marked the largest job growth since March 2014, when the economy added 726,000 jobs and also the seventh consecutive month
Oct. 13, 2021
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Mobility firms join hands to launch autonomous driving association
Private and public stakeholders in the development of self-driving cars have established the Korea Autonomous Industry Association on Wednesday in order to better prepare for the coming new mobility era. Some 30 government officials and company executives attended the launching ceremony held in Yeouido, Seoul, including Park Jin-kyu, the vice minister for industry, and Hwang Seong-kyu, the vice minister for transport. Aside from private firms, two state-run organizations -- the Korea Automot
Oct. 13, 2021
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SK Inc. to launch ‘turquoise hydrogen’ joint venture with Monolith
SK Inc., the holdings firm of SK Group, said Wednesday it will form a joint venture in South Korea with Monolith, the world’s first company to have successfully mass-produced “turquoise hydrogen.” According to the strategic investment arm of the country’s third-largest conglomerate, the joint venture will produce hydrogen and carbon black products. The US hydrogen maker will provide necessary technology while SK Inc. will be in charge of production, sales and distributi
Oct. 13, 2021
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Posco's Q3 operating income at record high on robust demand
Posco, the world's fifth-largest steelmaker by output, said Wednesday its third-quarter operating income more than quadrupled to a record high on robust demand amid the global economic recovery from the COVID-19 pandemic. Operating income for the three months that ended in September reached 3.11 trillion won ($2.6 billion) on a consolidated basis, sharply up from an operating profit of 670 billion won, the company said in a regulatory filing. The third-quarter operating income marks the highes
Oct. 13, 2021
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Koreans blame short sellers for bear market
South Korean day traders are expressing frustration over the bearish domestic stock market in early October, in the belief that short selling by institutional investors is adding fuel to the market volatility. As of Wednesday, a public petition calling for a complete ban on short selling activities in Korea’s stock market had gained nearly 49,000 endorsements within a week, in another major collective action unfolding on presidential office Cheong Wa Dae’s website. The unnamed pe
Oct. 13, 2021
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S. Korea to continue expansionary fiscal policy next year: finance minister
South Korea's top economic policymaker has said the government plans to maintain expansionary fiscal policy next year in a bid to prop up the economic recovery, Seoul's finance ministry said Wednesday. Finance Minister Hong Nam-ki made the remarks during his meeting with Kristalina Georgieva, managing director of the International Monetary Fund, in Washington, D.C. on Tuesday on the sidelines of the G-20 finance ministers and central bank governors meeting. Hong said South Korea's central bank
Oct. 13, 2021
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S. Korea's cartoon exports surge 40.9% in 2020
South Korea's cartoon exports jumped more than 40 percent in 2020 from a year earlier amid the growing global popularity of Korean pop culture, a report said Wednesday. Outbound shipments of cartoons, including webtoons, stood at $64.82 million last year, up 40.9 percent from a year earlier, according to the report from the Korea International Trade Association (KITA). The growth rate far exceeds the 6.2 percent on-year increase in exports of the country's overall cultural content. In particu
Oct. 13, 2021
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Banks' household loan growth accelerates in Sept.
South Korean banks' household loans grew at a faster pace in September from a month earlier despite the government's toughened controls on lending, central bank data showed Wednesday. According to the Bank of Korea (BOK), outstanding bank loans to households came to 1,052.7 trillion won ($877.9 billion) as of the end of September, up 6.5 trillion won from the previous month. The figure is higher than a 6.1 trillion-won increase registered in August, the data showed. The reading also marked the
Oct. 13, 2021