Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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[Weekender] Sleep-deprived Korea
Whether chasing a lifestyle of low sleep and high output or due to the sleep deprivation synonymous with parenthood, many South Koreans are sleep-deprived. For Kim Yu-ri, a nurse in her 30s with two children, sleep has long been a luxury. Raising a 3-year-old and 1-year-old while commuting two hours daily from home in Yongin, Gyeonggi Province, to Jamsil in Seoul, her days are already overpacked. “I think seven hours of sleep at night is what I really need, but it never seems to be a po
Aug. 27, 2022
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Samsung heir opens up about his first vacation with mom
Samsung Electronics Vice Chairman Lee Jae-yong revealed that he recently went on a summer vacation with his mother for the first time in his life, local reports said Friday. The notoriously private Samsung heir told his employees that his six-day trip with his mother involved watching a lot of TV shows. The 54-year-old added that he watched dramas she recommended and once stayed in for the entire day. Lee was responding to questions from millennial and Generation Z staffers working at Samsun
Aug. 26, 2022
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Korea kick-starts bid to host Busan Expo 2030
SEJONG -- South Korea on Friday finalized its bid to host the World Expo 2030 in its second-largest city of Busan, and announced it would send in the formal bid to the Bureau International des Expositions on Sept. 7. The bidding committee, led by the co-chairs Prime Minister Han Duck-soo and Korea Chamber of Commerce and Industry chairman Chey Tae-won, hammered out the last details of the bidding plan at a meeting in Seoul, according to the Ministry of Trade, Industry and Energy. A task force
Aug. 26, 2022
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Korea to abolish some corporate punishment laws
SEJONG -- South Korea will push for the abolishment of law provisions, which stipulate criminal punishment on businesses despite meager rule-violations, as part of effort to promote wider scale corporate activities and vitalize foreign investments. Before seeking criminal punishment, the government will issue administrative sanctions in the first stage, the Finance Ministry and the Justice Ministry said during a meeting for revamping regulations in Daegu on Friday. According to the two ministr
Aug. 26, 2022
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AMCHAM forum urges sustainable regulation for Korea‘s digital growth
While touting South Korea’s unrivaled position as a digital hub in the Asia-Pacific region, foreign executives and experts called for a need to create sustainable regulatory environment to foster the country‘s digital prowess at a forum hosted by the American Chamber of Commerce on Friday. “Korea is a optimal place for digital transformation, and will rise as a regional digital hub for Asia Pacific,“ said James Kim AMCHAM Chairman & CEO, at the Digital Innovation For
Aug. 26, 2022
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Busan city hosts Global Healthcare Week to promote health industry
A global healthcare exhibition kicked off in Busan on Thursday to test the southeastern port city’s potential of becoming a healthcare hub in Northeast Asia, organizers said. The three-day 2022 Global Healthcare Week, which is taking place at BEXCO, brings experts, companies and hospitals specializing in senior care, beauty, bio, food and fitness together to provide the latest information, products and services on how to live well and happy, they said. A total of 145 organizations are par
Aug. 26, 2022
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Hyundai Motor Group brands score top in satisfaction survey by JD Power
Hyundai Motor Group’s Hyundai, Kia and Genesis received top scores in a major product satisfaction survey, beating out global competitors, according to the US consumer research firm JD Power on Friday. According to the JD Power’s US Tech Experience Index (TEI), Hyundai Motor Group’s luxury brand Genesis scored 643 points, outpacing Cadillac (584), Mercedes-Benz (539) and Volvo (526), topping the luxury brand list. Genesis has topped the list for two consecutive years.
Aug. 26, 2022
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FSC deputy chairman is S. Korea's wealthiest civil servant
South Korea’s deputy finance policymaker was identified as the civil servant with the highest-value personal assets in the country, including shares worth some 20 billion won ($15 million) in a family business, a government ethics committee said Friday. Financial Services Commission Vice Chairman Kim So-young’s net assets – including real estate, stocks and savings -- amounted to a total of 29.2 billion won, making him the “richest” civil servant in the Yoon Suk
Aug. 26, 2022
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Construction of Posco’s recycling plant in Poland completed
South Korean steelmaker Posco Holdings said Friday that it has completed construction of a used secondary battery recycling plant in Poland, which will serve as a base for Posco to expand its eco-friendly business to around the world. The Poland Legnica Sourcing Center (PLSC), located in Brzeg Dolny, some 30 kilometers northwest of Warsaw, can annually process 7,000 tons of used batteries and scraps of waste left after battery production. Used batteries shredded to a powdery black mass at the
Aug. 26, 2022
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Samsung SDI chief meets with Indiana state over EV battery JV
South Korean battery maker Samsung SDI Co. said Friday its management has met with a group of government officials from the U.S. state of Indiana in Seoul and discussed the ongoing battery joint venture with Stellantis N.V. Choi Yoon-ho, CEO of Samsung SDI, met with Indiana Gov. Eric Holcomb and Bradley Chambers, the secretary of commerce for the state of Indiana, during the delegation's visit to Samsung SDI's production site in Cheonan, about 90 kilometers south of Seoul, on Thursday,
Aug. 26, 2022
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S. Korea to take steps to stabilize FX market to curb market volatility: official
South Korea plans to take measures to stabilize the foreign exchange market in a timely manner if market volatility increases, driven by herd behavior or speculative bets in the currency market, a senior government official said Friday. The government will also buy back Treasury bonds and take steps to help curb a rise in bond yields, when needed, if the bond market shows jitters amid global rate hike drives, according to First Vice Finance Minister Bang Ki-sun. The finance ministry said the Sou
Aug. 26, 2022
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Seoul shares open higher ahead of Powell's Jackson Hole speech
South Korea's stock market opened higher Friday as investors awaited the gathering of central bankers in the United States. The benchmark Korea Composite Stock Price Index (KOSPI) rose 9.82 points, or 0.4 percent, to trade at 2,487.08 as of 9:15 a.m. Investors will be closely looking for the clue into the pace and the scale of the US central bank's monetary tightening plan at the meeting in Jackson Hole, Wyoming, slated for Friday (US time), where Federal Reserve Chair Jerome Powell is
Aug. 26, 2022
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BOK makes 4th consecutive rate hike
The Bank of Korea returned to its usual 25 basis point rate hike Thursday, half the historic size seen in July, while slashing its growth forecast for the year amid the persistent inflation forcing the central bank to back a raise for a fourth time in a row for the first time. The unanimous decision reached by all seven board members comes as the country fights inflation at an almost 24-year high. In July, prices jumped 6.3 percent on-year. The policy rate now stands at 2.5 percent, up fro
Aug. 25, 2022
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Female bank worker forced to cook, wash dishes at work
A bank employee in Namwon, North Jeolla Province, was forced to cook, wash dishes and clean clothes at her workplace over the last two years, a civic group said while filing the case to anti-corruption and labor dispute agencies. According to Gapjil 119, a civic group that campaigns against workplace abuses, one of the female employees working at MG Community Credit Cooperatives said she had to cook rice at 11 a.m. and report to her branch manager how well the rice was done. She also claims sh
Aug. 25, 2022
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Korea to seek joint response with EU over Biden’s bill
SEJONG -- The South Korean government is to seek a joint response with the EU to deal with the US Inflation Reduction Act that slashes subsidies to electric vehicles not made on American soil, rather than seeking dispute settlement within the bilateral trade agreement frame the two forged years ago. Seoul would continue to raise arguments that the US law goes against the Korea-US Free Trade Agreement, but a joint response scenario with other countries seems more feasible to press Washington tha
Aug. 25, 2022
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Tensions rise as Korea waits for verdict on Lone Star dispute
South Korea is watching closely a verdict set to be delivered by an international dispute settlement body for a decadelong dispute between the government and US private equity firm Lone Star next week. The International Center for Settlement of Investment Disputes’ verdict on Aug. 31 will come almost 10 years after Lone Star filed a suit against the Korean government in November 2012, seeking $4.68 billion in compensation. Lone Star claimed that the financial authorities here botched its
Aug. 25, 2022
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KB launches new premium private banking brand
South Korea’s KB Financial Group on Thursday launched its new premium private banking and asset management brand to better cater to its wealthy clients. “KB Gold & Wise the First” plans to adopt a “Credit Suisse-like” model in which private bankers and asset managers from KB Kookmin Bank and KB Securities and experts from areas such as investment, tax, real estate and trusts are brought together as a single team for their clients, according to the firm. Clie
Aug. 25, 2022
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‘Inflation law may disrupt Korean exports of 100,000 plus EVs’
South Korean carmakers on Thursday said at least 100,000 electric vehicles built here would face disruption in export sales annually under the new US law, which excludes battery-powered vehicles made outside of the US from tax credits. They also urged the South Korean government to revise the current subsidy law and map out temporary measures for local carmakers, such as tax credits. According to the Korea Automobile Manufacturers Association, of which Hyundai Motor and Kia are members,
Aug. 25, 2022
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Postech chip professor wins Merck Award
Professor Noh Yong-Young of Postech won an annual award given by Merck Korea in recognition of his innovative research into the development of semiconducting materials for backplane thin-film transistor technology of organic light-emitting diode displays. His research, Merck Korea says, could contribute to the commercialization of backplane p-type thin-film transistors for high-performance OLED displays if further developed. The Merck Young Scientist Award went to professor Kang Suk-ku for prop
Aug. 25, 2022
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Allink offers new NFT experience to Samsung New Galaxy NFT holders
Allink, an NFC tag-based information transfer solution company, has partnered up with Samsung Electrionics, the company said Thursday. Allink provided a non-fungible token solution that enables mobile phones to transfer information to various terminals by tapping the phone on the NFC tag. With this solution, New Galaxy NFT holders can have access to in-store benefits on their Thetadrop wallet by tapping on Allink’s tag at Samsung Digital Plaza, Shilla Duty-Free Shop, Eland Cruise, and Sh
Aug. 25, 2022