South Korea’s top 10 chaebol groups are still reliant on internal transactions -- a frequent target of antitrust scrutiny -- with their combined trade volume making up more than 10 percent of their total sales. According to the Fair Trade Commission on Thursday, transactions among affiliates of the nation’s 10 largest conglomerates stood at 156 trillion won ($120 billion) last year, a 15.1 perce...

Samsung Electronics said Wednesday sales of its foldable phones for corporate use more than doubled on-year, partly because more companies have adopted remote working policies in the wake of the COVID-19 pandemic. From January to October, sales of Galaxy Z Fold and Galaxy Z Flip phones jumped by 105 percent compared to the same period in the previous year, the world's largest smartphone maker sa...

South Korean telecom giant SK Telecom said Tuesday it forged a partnership with Singapore’s largest mobile carrier Singtel to expand its metaverse service into the Asia-Pacific region. Singtel operates in 21 countries to provide mobile communication and high-speed internet services to about 770 million users around the world. Under their partnership, the two sides agreed to work together on ini...

South Korea is heavily reliant on China for its semiconductor exports, and it should diversify its overseas markets to mitigate associated risks of decline in trade with the neighboring country, a report said on Monday. According to statistics released from the Korea International Trade Association, South Korea’s semiconductor exports to China from January to September was $42 billion, rising 1....

Kenya seeks to be in “sync” with South Korea on all the issues it stands for, and wants to build stronger ties in politics, the economy and culture, said Alfred Mutua, Kenya’s Cabinet secretary for foreign affairs. “Kenya believes in the principle of peace and prosperity; we support Korea's position about the peninsula. ... Issues that Korea stands for are the same issues that we stand for,” Mut...

Indian Ambassador to South Korea Amit Kumar and The Korea Herald CEO Choi Jin-young agreed to explore together opportunities for cooperation and to join efforts in raising awareness of India in South Korea and vice versa, in their meeting in Seoul on Friday. The Indian ambassador who was newly appointed in September also expressed a desire to strengthen the bilateral relations between India and ...

Kim Yo-jong, the sister of North Korean leader Kim Jong-un, called South Korean President Yoon Suk-yeol an “idiot,” and threatened to make Seoul its “target,” in a statement Thursday. Criticizing the Yoon Suk-yeol administration for its hostile North Korea policy aimed at deterring its nuclear program, Kim, the vice department director of the Central Committee of the Workers' Party of Korea, sai...

Leaders of South Korea and Kenya on Wednesday agreed to expand economic exchanges in the areas of energy, defense and transport in the first bilateral summit that came in 32 years. South Korean President Yoon Suk-yeol requested Kenya's interest in having more Korean energy and defense companies work on state-led projects, while Kenyan President William Ruto asked for Korea's cooperation in the A...

The young girl who was holding hands with North Korean leader Kim Jong-un at a missile test site, in photos released by Pyongyang’s state media, is Ju-ae, Kim’s second daughter, South Korea’s spy agency confirmed Tuesday. On Friday, Korean Central News Agency, North Korea’s state-run media released a slew of photos of the North Korean leader holding hands with a young girl wearing a white jacket...

As the United Nations Security Council was to convene an open meeting on Monday to discuss countermeasures to North Korea’s latest launch of an intercontinental ballistic missile, Pyongyang denounced the UN chief as “not impartial,” calling him a “puppet” of the United States. The Korean Central News Agency on Monday delivered a statement issued by North Korean Foreign Minister Choe Son-hui, whe...

The launch was a countermeasure to the “reckless military confrontational moves of the US and other hostile forces” that drive regional security to the “red line,” going beyond the limit, the KCNA also said. Pyongyang has been critical of South Korea and the US for conducting joint military drills involving American strategic assets, such as B-1B and B-52 bombers and a nuclear powered aircraft c...

North Korea stole $620 million in cryptocurrency from hacking a game company in March, which was likely used to fund the launching of dozens of ballistic missiles it fired in the first half of this year, Seoul’s special envoy for North Korea said Thursday. Speaking at a symposium on North Korea’s cyber threats jointly held by the Ministry of Foreign Affairs and the US State Department for the fi...

“In the last two years alone, North Korea has largely funded its weapons of mass destruction programs through cyber heists of cryptocurrencies and hard currencies totaling more than $1 billion,” the US secretary said in the written statement. “Hostile nations like Russia, the People’s Republic of China, Iran, North Korea and cyber criminals around the world continue to sharpen their tactics and ...

US President Joe Biden and Chinese President Xi Jinping held their first in-person bilateral summit on Monday, where they each showed a desire to improve US-China ties that have hit rock bottom in recent years. While they continue to stand at odds on key issues, including Taiwan, experts assess that Monday's summit will positively improve bilateral ties and reduce tensions. On the eve of the Gr...

South Korea’s first diplomatic strategy for the Indo-Pacific region appears to show the intention to align with the United States in the US-China rivalry, experts based in Seoul said Monday. South Korean President Yoon Suk-yeol on Friday unveiled the country's first Indo-Pacific strategy for freedom, peace and prosperity for the region, at the biannual Association of Southeast Asian Nations summ...