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(2nd LD) S-Oil CEO apologizes over Ulsan refinery blast

(ATTN: ADDS dropped letters in lead, background info in paras 10-11, closing share price at bottom; CHANGES photos)By Kim Seung-yeonULSAN/SEOUL, May 20 (Yonhap) -- The head of S-Oil Corp. apologized Friday over the explosion at the company's refi
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S. Korea eyes swift implementation of extra budget

SEJONG, May 20 (Yonhap) -- South Korea said Friday it is preparing to provide compensation to merchants hit by the COVID-19 pandemic within three days after the National Assembly approves the latest extra budget bill.The parliament is reviewing the g
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(Yonhap Interview) Crypto investors lose life savings due to Terraform Lab's 'deceitful' algorithm: lawyer

By Kim Han-jooSEOUL, May 20 (Yonhap) -- A countless number of investors in two main tokens of Terraform Labs have lost their life savings due to a deceitful algorithm created by Do Kwon, the embattled cryptocurrency firm's co-founder and CEO, a l
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Hyundai chief expected to drum up support for UAM, robotics in Biden meeting

SEOUL, May 20 (Yonhap) -- Chung Eui-sun, the chief of South Korea's auto giant Hyundai Motor Group, is expected to ask for Washington's support for the group's push in burgeoning sectors that include urban air mobility (UAM) and robotics
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(LEAD) Netflix subsidiary to invest US$100 mln in S. Korea

(ATTN: ADDS Scanline VFX chief's comments, byline)By Koh Byung-joon and Kang Jae-eunSEOUL, May 20 (Yonhap) -- Scanline VFX, a subsidiary of Netflix, will invest US$100 million in South Korea over the next six years to build special visual effects
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(LEAD) S-Oil CEO apologizes over Ulsan refinery explosion

(ATTN: UPDATES story with S-Oil CEO's remarks from press conference, other details; ADDS photo) By Kim Seung-yeonULSAN/SEOUL, May 20 (Yonhap) -- The head of S-Oil Corp. apologized Friday over the explosion at the company's refinery unit in th
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Netflix subsidiary to invest US$100 mln in S. Korea

SEOUL, May 20 (Yonhap) -- A subsidiary of Netflix will invest US$100 million in South Korea over the next six years to build special visual effects facilities in a move that will help turn the country into an Asian hub for high-tech content creation,
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GCF board approves US$330 mln for green energy projects

SEJONG, May 20 (Yonhap) -- The Green Climate Fund (GCF), an international organization on fighting climate change, has approved US$330 million in funding for five green energy projects, South Korea's finance ministry said Friday.The board of the
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S. Korea to face 'grave' inflation risk for time being: official

SEJONG, May 20 (Yonhap) -- South Korea is expected to face a "grave" risk from rising inflation for the time being, as the recovery of consumption will further add price pressure amid high energy costs, a senior government official said F
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GM names new CEO for S. Korean unit amid chip shortage

SEOUL, May 20 (Yonhap) -- General Motors Co. on Friday named new presidents for GM Korea Co. and the South Korean unit's R&D unit GM Technical Center Korea (GMTCK) amid the unprecedented global chip shortage.GM has appointed Roberto Rempel, curre
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1 killed, 9 injured in S-Oil refinery explosion

ULSAN/SEOUL, May 20 (Yonhap) -- One person has been killed and nine others injured in an explosion at a refinery run by South Korean oil refiner S-Oil Corp. in the country's southwest, firefighters said Friday.The deceased was a subcontractor who
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Producer prices up for 4th month in April on energy, raw material price hikes

SEOUL, May 20 (Yonhap) -- South Korea's producer prices grew for the fourth straight month in April as hikes in energy and raw material prices drove up costs of manufacturing products, central bank data showed Friday.The producer price index, a m
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S. Korea calls on EU to reconsider steel safeguard

SEOUL, May 19 (Yonhap) -- South Korea on Thursday asked the European Union to reconsider its safeguard measures against South Korean steel products, saying the measures could hurt bilateral trade.The EU has assessed a 25 percent duty on 26 kinds of S
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Presidential office says IPEF does not seek to exclude China

By Lee Haye-ahSEOUL, May 19 (Yonhap) -- South Korea's presidential office on Thursday denied characterizations that the U.S.-proposed Indo-Pacific Economic Framework (IPEF) seeks to exclude China from global supply chains.Speaking to reporters ah
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Finance Minister flatly denies plan to privatize public services

SEOUL, May 19 (Yonhap) -- Finance Minister Choo Kyung-ho on Thursday flatly denied the main opposition party's claim that the government is planning to privatize certain public services. "The privatization of electricity, water supply, rail
Yonhap News Summary

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The following is the second summary of major stories moved by Yonhap News Agency on Thursday.-----------------(LEAD) Seoul shares dip over 1 pct on inflation woesSEOUL -- Seoul shares dropped by over 1 percent to snap their two-day winning streak, as
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Hyundai Glovis sets up subsidiary in Thailand to expand foothold in Southeast Asia

SEOUL, May 19 (Yonhap) -- Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, said Thursday it has set up a subsidiary in Thailand in a joint venture with Thai companies as part of efforts to expand its foothold in Southeast Asia. The part
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Crypto investors in South Korea sue Terraform founders

By Kim Han-jooSEOUL, May 19 (Yonhap) -- A group of South Koreans who invested in two main tokens of Terraform Labs have sued Do Kwon, the embattled cryptocurrency firm's co-founder and CEO, and co-founder Daniel Shin, a law firm representing the
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(LEAD) Lotte Chemical to spend 10 tln won by 2030 to boost hydrogen, battery biz

(ATTN: ADDS more details in paras 5-8, new photo) By Kim Seung-yeon SEOUL, May 19 (Yonhap) -- Lotte Chemical Corp. said Thursday it will spend a total of 10 trillion won (US$7.85 billion) by 2030 to boost its hydrogen and battery businesses as it ram
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Household income grows at fastest pace in Q1 on economic recovery

By Kim Soo-yeonSEOUL, May 19 (Yonhap) -- Household income grew at the fastest pace on record in the first quarter on the back of the economic recovery and state relief funds for pandemic-hit merchants, data showed Thursday.The average household earne