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  Household loans fall for 5 straight months: bank data

  SEOUL, June 2 (Yonhap) -- The amount of household loans extended by major South Korean banks fell for five straight months, bank data showed Thursday.The combined outstanding loans of the country's five first-tier lenders, including KB Kookmin, S
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  GM Korea's May sales fall 4.4 pct amid chip shortage

  SEOUL, June 2 (Yonhap) -- GM Korea Co., the South Korean unit of General Motors Co., said Thursday its sales fell 4.4 percent last month from a year earlier amid a global chip shortage. GM Korea sold 15,700 vehicles in May, down from 16,428 units a y
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  Kia's May sales fall 4.9 pct amid chip shortage

  SEOUL, June 2 (Yonhap) -- Kia Corp., South Korea's second-largest automaker, said Thursday its sales fell 4.9 percent last month from a year earlier as a global chip shortage affected its vehicle production and sales.Kia sold a total of 234,554 v
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  Finance chief urges firms to refrain from hiking goods prices to curb inflation

  SEOUL, June 2 (Yonhap) -- South Korea's finance minister on Thursday called on local companies to refrain from hiking prices of products and wages as the move could add upward pressure to already high inflation.Finance Minister Choo Kyung-ho made
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  Renault Samsung's May sales fall 17 pct on chip shortage

  SEOUL, June 2 (Yonhap) -- Renault Samsung Motors Corp., the South Korean unit of Renault S.A., said Thursday its vehicle sales fell 17 percent last month from a year earlier amid the ongoing chip shortage. Renault Samsung sold 8,591 vehicles in May,
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  SsangYong's May sales fall 5.3 pct amid chip shortage

  SEOUL, June 2 (Yonhap) -- SsangYong Motor Co. said Thursday its sales fell 5.3 percent last month from a year earlier as the ongoing chip shortage hurt its production. SsangYong Motor sold 8,282 vehicles in May, down from 8,750 units a year earlier,
• Hyundai's May sales fall 0.5 pct amid chip shortage

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  SEOUL, June 2 (Yonhap) -- Hyundai Motor Co., South Korea's biggest carmaker, said Thursday its sales fell 0.5 percent in May from a year earlier, as a global chip shortage continued to affect its vehicle production and sales. Hyundai Motor sold a
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  1970s-style oil shock unlikely despite crunch: BIS economist

  By Chung Joo-wonSEOUL, June 2 (Yonhap) -- The return of the nightmarish oil shock in the 1970s is unlikely despite tight supply stemming from the Ukraine war, largely due to the world's dwindling dependence on fossil fuels and stronger policy fra
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  (LEAD) Online shopping continues to grow in April amid non-contact trend

  (ATTN: UPDATES with more details in paras 6-7)SEOUL, June 2 (Yonhap) -- Online shopping in South Korea continued to grow in April as eased virus curbs and the economic recovery boosted demand for travel services and foodstuffs, data showed Thursday.T
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  Hanwha Solutions takes part in US$21 mln joint funding for U.S. plastic upcycling firm

  SEOUL, June 2 (Yonhap) -- Hanwha Solutions Corp. said Thursday it has participated in US$21 million joint funding for a U.S. plastic upcycling startup as the chemical and energy unit of South Korean conglomerate Hanwha Group seeks to expand its portf
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  Online shopping continues to grow in April amid non-contact trend

  SEOUL, June 2 (Yonhap) -- Online shopping in South Korea continued to grow in April as eased virus curbs and the economic recovery boosted demand for travel services and foodstuffs, data showed Thursday.The value of online shopping transactions stood
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  Gov't to open Yongsan park site near presidential office on trial basis

  SEOUL, June 2 (Yonhap) -- The land ministry said Thursday it plans to temporarily open to the public part of the site for an envisioned national park near the presidential office in central Seoul starting next week.Part of the site in Yongsan -- once
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  LG Chem to set up battery precursor plant with Korea Zinc affiliate

  SEOUL, June 2 (Yonhap) -- LG Chem Ltd., a leading chemical company, said Thursday it is building a battery precursor plant in South Korea with a raw battery materials producer in an effort to secure a stable supply of key components for electric vehi
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  Samsung Biologics establishes one-stop mRNA vaccine production capability at Songdo plant

  SEOUL, June 2 (Yonhap) -- Samsung Biologics Co., the biotech arm of South Korea's Samsung Group, has established a one-stop production capability for manufacturing messenger RNA (mRNA) vaccines by newly adding a mRNA vaccine substance production
• S. Korean firm in talks to buy Ssangyong E&C from Dubai fund

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  SEOUL, June 2 (Yonhap) -- GLOBAL SAE-A, a South Korean textile business group, has been in talks with the Investment Corporation of Dubai (ICD) to buy Ssangyong Engineering & Construction Co., industry sources said Thursday.The value of the deal was
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  (LEAD) BOK chief highlights central banks' post-pandemic role, worries about low inflation, growth in emerging economies

  (ATTN: CHANGES photo)SEOUL, June 2 (Yonhap) -- Central banks need to do more than their obligation of maintaining price stability as calls for them taking more social responsibility will continue to rise in the post-pandemic era, Seoul's top cent
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  Regulator reviews travel platform Yanolja's takeover deal

  SEOUL, June 2 (Yonhap) -- South Korea's antitrust regulator said Thursday it has started to review the proposed deal by Yanolja Co., a leading travel platform operator, to buy e-commerce firm Interpark Corp.In October last year, Yanolja announced
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  BOK chief highlights central banks' post-pandemic role, worries about low inflation, growth in emerging economies

  SEOUL, June 2 (Yonhap) -- Central banks need to do more than their obligation of maintaining price stability as calls for them taking more social responsibility will continue to rise in the post-pandemic era, Seoul's top central banker said Thurs
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  Renault Korea, 5 others to recall some 42,000 vehicles over faulty parts, software errors

  SEOUL, June 2 (Yonhap) -- Renault Korea Motors and five other carmakers will voluntarily recall nearly 42,000 vehicles to fix part defects and software errors to better ensure their safety, Seoul's transport ministry said Thursday.Renault Korea w
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  (2nd LD) Exports up 21.3 pct in May; trade deficit extended on high energy prices

  (ATTN: ADDS more detailed figures, industry minister's comments in paras 12-21)By Oh Seok-minSEOUL, June 1 (Yonhap) -- South Korea's exports rose 21.3 percent in May from a year earlier on solid demand for chips and petroleum products, but th