Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Doctors' group picks new leader amid tense standoff over increased enrollment quota
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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Korea enters full election mode
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Divorced men and women have differing views on physical intimacy
Men and women who have experienced divorce each have differing interpretations of physical intimacy in their new relationship, a joint survey by local matchmaking agencies showed Monday. The companies Only U and Bien-Alle conducted a survey of 516 men and women who wish to get remarried to ask about physical contact with romantic connotations with their new romantic partners. The survey generally showed that female respondents attribute slightly more meaning to physical intimacy than male respon
Social AffairsMarch 25, 2024
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Man sends narcotics to wrong address, gets 8-year jail term
A South Korean man has been sentenced to eight years in prison for smuggling a large quantity of illegal drugs into the country, a local court said Monday. The defendant in his 30s has been accused of having brought in the drugs, hidden inside bags of snacks, from Hawaii between December 2018 and October 2021. He smuggled a total of 405 pills of ecstasy, 16.35 grams of cocaine and 2.79 kilograms of cannabis. South Korea's Narcotics Control Act bans the possession, transaction or use of what
Social AffairsMarch 25, 2024
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Seoul shares fall for 2nd day on profit-taking
South Korean stocks declined for the second straight session Monday as investors sought to cash in recent gains. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 10.99 points, or 0.4 percent, to close at 2,737.57. Trade volume was moderate at 479.9 million shares worth 9.78 trillion won ($7.23 billion), with losers outnumbering winners 527 to 336. Foreigners and institutions led the drop, dumping a combined 331.6 billion won worth of local share
MarketMarch 25, 2024
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North Korea going for short-range missiles a ‘Japan-conscious move’: Seoul’s ex-vice defense chief
CHEONAN, South Chungcheong Province -- Shin Beom-chul, who until recently served as the deputy national defense minister, said that North Korea limiting its weapons testing to short-range missiles last week “may have been a Japan-conscious move.” Speaking with The Korea Herald, he said that as Pyongyang has been courting a summit with Tokyo, “anything beyond short-range missiles being fired toward the sea east of Korea would have the potential to be perceived by the Japanese as
PoliticsMarch 25, 2024
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New Kyobo Life CEO urges change, innovation
The new CEO of Kyobo Life Insurance, the nation's leading life insurer, has pledged to achieve "sustainable growth" that benefits all stakeholders. Upon assuming office on Monday, CEO Cho Dae-kyu cautioned about the life insurance industry's current challenges, citing "stagnant growth and declining profitability." During his inauguration ceremony at the company's headquarters in Gwanghwamun, central Seoul, the CEO stressed the urgent need for "change and i
IndustryMarch 25, 2024
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J-Hope says dance is what he cherishes most in life
J-Hope of BTS released a teaser video for his upcoming documentary series “Hope on the Street” via the boy band's official YouTube channel on Monday. The clip shows an interview with J-Hope sitting on a couch wearing a knitted hat, a dark jacket and jeans. “This documentary is about dance, which is what I consider my roots and the most important thing in my life and career,” J-Hope says in introducing the upcoming documentary series. “You will be able to learn
K-popMarch 25, 2024
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Yoon vows new law for autonomy of Yongin, Suwon, Goyang, Changwon
Four cities that have lower-level local autonomy but have populations of over 1 million each may enjoy greater autonomy to set up infrastructure for construction, transportation and education, as the government anticipates a population influx with the advent of new chip industry complexes, according to President Yoon Suk Yeol on Monday. A new law, if proposed, will ensure the administrative power of a provincial governor in these cities be transferred to the cities' mayors, President Yoon
PoliticsMarch 25, 2024
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Japanese the largest group of inbound travelers to Busan in 2023
While the number of overseas travelers to Busan rebounded to 67.7 percent of pre-pandemic levels last year, Japanese visitors topped the number of inbound travelers to Busan in 2023. A total of 344,537 Japanese tourists visited South Korea's second-largest city, accounting for almost 53 percent of total inbound travelers -- 1,820,057 -- to the city, according to data compiled by the city government and Busan Tourism Organization. On Sunday the city announced that Taiwanese and American trav
TravelMarch 25, 2024
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Professors tender resignations despite Seoul’s offer of dialogue
Medical professors on Monday said they would proceed with their plan of tendering their resignations, a day after the ruling party chief offered to open a dialogue between the government and the medical community. Announcing the plan, the Medical Professors Association of Korea said the government’s unilateral decision to raise the admission quota and allocate new student seats led to the resignations. “The discussions regarding the quota are scientific, so I knew I wouldn’t be
Social AffairsMarch 25, 2024
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Russian subway pickpockets given suspended sentences
A group of Russian nationals received suspended prison sentences for pickpocketing passengers in Seoul's subways late last year, according to a local court. The Seoul Central District Court's Criminal Division 17 handed down one-year sentences, suspended for two years, to three Russian nationals -- two men in their 40s and a 39-year-old woman. Over a period of nine days in November, the three pickpockets spent an average of five hours a day in Subway Line No. 3 and Line No. 9, where
PoliticsMarch 25, 2024
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Posco International CEO vows to speed up digital transformation
Lee Kye-in, formerly president of Posco International, took office as CEO of the company, having been appointed to his new position during a board meeting at the company’s headquarters in Incheon on Monday. In his inaugural speech, Lee said, "As CEO of Posco Group's second-largest company, as well as a leading trading company, I will fulfill my responsibilities" to align with the company's new vision, "materials opening the future, innovation for the top class,&quo
CompaniesMarch 25, 2024
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Hyundai Motor ranks 2nd in US EV sales
Hyundai Motor Group ranked second behind Tesla in terms of electric vehicle sales in the United States in January, a report showed Monday. Citing statistics from S&P Global Mobility, Automotive News said the Korean auto conglomerate’s three brands -- Hyundai Motor, Kia and Genesis -- combined for 8,262 newly registered EVs in the US in January 2024 to account for 9.3 percent of the total market. According to the report, Tesla registered 48,757 EVs to retain the top spot, while traditio
MobilityMarch 25, 2024
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Hyundai Motor, Saudi Arabia join efforts for future mobility ecosystem
Hyundai Motor Group said Monday that it has joined hands with Red Sea Global to implement eco-friendly future mobility to Saudi Arabia’s development project to open luxurious and pro-nature tourism resorts along the west coast of the Middle Eastern country. According to the announcement, the representatives of the Korean automaker and the Saudi Arabian megaproject signed a memorandum of understanding in Riyadh on Sunday. Red Sea Global, which is entirely owned by the Public Investment Fund
MobilityMarch 25, 2024
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Eximbank to form W1tr fund for chips, battery
The Export-Import Bank of Korea, or Eximbank, announced it will form a 1 trillion won ($745 million) fund to support businesses in high-tech strategic industries, especially semiconductors and batteries. The policy lender will put in 150 billion won toward the fund which will close out at 1 trillion won. The fund will be used to provide preferential interest rates and loan limits to businesses related to chips, battery, bio, future mobility and electric engineering. It is the second fund establi
IndustryMarch 25, 2024
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Bank refusal to open account for resident from 'high-risk country' discriminatory: rights commission
A South Korean bank's refusal to open an account for a foreign national resident from a designated "high-risk country" is discriminatory, the country's human rights watchdog agency said Monday. The National Human Rights Commission of Korea's recommendation was made in response to a complaint lodged by the Korean spouse of a bank customer whose application to open an account was rejected on the grounds of their nationality. The bank said in August 2022 that because the re
Social AffairsMarch 25, 2024
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LX chief calls 2024 'turning point'
LX Holdings Chairman Koo Bon-joon said Monday he would enhance the group’s crisis response system in a bid to enhance its responsiveness to business uncertainties at home and globally. “The year 2024 will be an important inflection point as we prepare for the next three years of LX’s leap,” Koo said during this year’s annual shareholders meeting held at the company’s headquarters in Seoul. Koo’s comments come as LX Group spun off from LG Group in 2021
IndustryMarch 25, 2024
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Antitrust watchdog to launch large-scale survey on e-commerce platforms
With the rapid influx of global e-commerce into the domestic market, the Fair Trade Commission is set to launch an extensive market survey starting Tuesday, to examine the evolving landscape and structure of the e-commerce market in Korea. The survey marks the first step in gathering data to produce a policy report slated for release by the end of this year. The report's objective is to proactively identify and analyze fair trade and consumer issues arising from shifts in e-commerce market
IndustryMarch 25, 2024
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IBK to roll out W100b fund for digital tech
The Industrial Bank of Korea on Monday announced the establishment of a strategic investment fund worth 100 billion won ($75 million) to nurture businesses with innovative digital technologies. The fund will be pooled by the policy lender and its affiliate IBK Capital, with each investing 90 billion won and 10 billion won, respectively. As IBK Capital is more experienced in venture funding, it will manage the fund as a general partner, IBK explained. The fund aims to support platform operators w
IndustryMarch 25, 2024
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Ophthalmologist who covered ER to fill staff void found dead
An ophthalmologist in his 40s from Pusan National University Hospital died in his home early Sunday morning, according to the Busan Metropolitan Police Agency on Monday. On Sunday at 4:30 a.m., police officials received a call that the doctor was found unconscious in his home. When emergency medical services reached the doctor’s home, he did not have a pulse nor was he breathing, according to police officials. The doctor was immediately taken to the Inje University Haeundae Paik Hospital n
Social AffairsMarch 25, 2024
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More reality shows exploring divorce are on their way
South Korean broadcasters are rolling out new shows about divorce among real-life couples following a wave of successful reality shows that previously explored the same theme. The Maeil Broadcasting Network said it has decided to regularly broadcast "Decision to Divorce" starting in April following the show's successful pilot season of five episodes that aired from January to February. "Decision to Divorce" features couples going through difficult times in their marri
TelevisionMarch 25, 2024