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S. Korea to open site for nat'l park near presidential office on trial basis

SEOUL, May 19 (Yonhap) -- South Korea said Thursday it will temporarily open to the public part of the site for an envisioned national park near the presidential office in central Seoul.The U.S. military is in the process of returning the site in the
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Supply chain resilience is key reason behind S. Korea's decision to join IPEF

By Oh Seok-minSEOUL, May 19 (Yonhap) -- South Korea said Thursday it has decided to join the U.S.-led new economic initiative, as it could help diversify and stabilize the country's supply chains amid fast-changing global trade circumstances.Pres
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Lotte Chemical to spend 10 tln won by 2030 to boost hydrogen, battery biz

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 ramps up the push for a green energy transition.The a
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S. Korea's tax revenue up 10.4 tln won in March

SEOUL, May 19 (Yonhap) -- South Korea's tax revenue increased 10.4 trillion won (US$8.16 billion) in March from a year earlier, as the collection of corporate and value-added taxes rose amid the economic recovery, the finance ministry said Thursd
Top headlines in major S. Korean newspapers

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SEOUL, May 19 (Yonhap) -- The following are the top in major South Korean newspapers on May 19.Korean-language dailies-- Yoon says spirit of 1980 pro-democracy uprising is cornerstone for nat'l unity (Kyunghyang Shinmun)-- S. Korea, U.S. to expa
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(LEAD) SsangYong signs conditional investment deal with KG consortium

(ATTN: UPDATES with details in 5th para, last para)SEOUL, May 18 (Yonhap) -- SsangYong Motor Co. said Wednesday it has signed a conditional investment deal with a local consortium ahead of the auction later this month to find a new investor for the c
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SsangYong signs conditional investment deal with KG consortium

SEOUL, May 18 (Yonhap) -- SsangYong Motor Co. said Wednesday it has signed a conditional investment deal with a local consortium ahead of the auction later this month to find a new investor for the carmaker. The Seoul Bankruptcy Court recently select
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Hancom to launch S. Korea's 1st commercial Earth observation satellite this month

SEOUL, May 18 (Yonhap) -- Hancom InSpace Co., a South Korean aerospace tech company, said Wednesday that it plans to launch the country's first commercial Earth observation satellite next week in the United States.A SpaceX Falcon 9 rocket is set
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KEPCO to sell all overseas coal power plants over record losses

SEOUL, May 18 (Yonhap) -- South Korea's state power firm Korea Electric Power Corp. (KEPCO) said Wednesday it will sell all overseas coal power plants, including one in the Philippines, as part of efforts to improve its financial status over reco
Hyundai, Kia's Europe sales rise 13 pct in April on EV demand

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SEOUL, May 18 (Yonhap) -- Hyundai Motor Co. and its affiliate Kia Corp. said Wednesday their sales in Europe rose 13 percent last month from a year earlier, helped by higher demand for their electric vehicles. Hyundai and Kia sold a combined 88,952 v
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S. Korea to boost monitoring of cooking oil supplies over shortage woes

SEOUL, May 18 (Yonhap) -- South Korea will beef up monitoring of the cooking oil market and boost its supply chains on concerns over supply crunches and illegal hoarding, the agriculture ministry said Wednesday.Global cooking oil prices have risen re
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Business leaders of S. Korea, Japan to resume regular meetings after COVID-19-driven hiatus

SEOUL, May 18 (Yonhap) -- Top business leaders of South Korea and Japan have agreed to resume regular meetings after more than two years of hiatus due to the COVID-19 pandemic, industry sources said Wednesday. The Federation of Korean Industries and
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(LEAD) KDI cuts 2022 growth outlook to 2.8 pct, ups inflation estimate to 4.2 pct

(ATTN: ADDS more details in paras 18, 26-27)By Kim Soo-yeonSEOUL, May 18 (Yonhap) -- The Korea Development Institute (KDI) on Wednesday lowered its 2022 growth forecast for the South Korean economy to the 2 percent range, while sharply raising its in
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Exim Bank raises 1.5 bln euros via bond sale

SEOUL, May 18 (Yonhap) -- The state-run Export-Import Bank of Korea (Exim Bank) said Wednesday it has raised 1.5 billion euros (US$1.58 billion) by selling global bonds. The state lender has sold two-year floating-rate bonds worth 550 million euros a
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Hyundai to invest 21 tln won in local EV production, EV technologies

SEOUL, May 18 (Yonhap) -- South Korea's Hyundai Motor Group said Wednesday it will invest 21 trillion won (US$16.5 billion) to expand its domestic electric vehicle production capacity and develop related technologies by 2030. Hyundai Motor Co. an
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(LEAD) Regulators call for beefed-up financial market monitoring amid rising uncertainty

(ATTN: ADDS FSS chief's remarks in paras 5-7)SEOUL, May 18 (Yonhap) -- South Korea needs to keep close tabs on financial market situations with a "sense of crisis" that many potential risks facing the country could turn into reality a
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Listed firms' Q1 net dips amid rising inflation

By Chung Joo-wonSEOUL, May 18 (Yonhap) -- South Korean listed firms saw their first-quarter earnings fall from a year ago amid fast-rising inflation despite growths in operating profit and sales, the bourse operator's data showed Wednesday. The c
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KDI cuts 2022 growth outlook to 2.8 pct, ups inflation estimate to 4.2 pct

By Kim Soo-yeonSEOUL, May 18 (Yonhap) -- The Korea Development Institute (KDI) on Wednesday lowered its 2022 growth forecast for the South Korean economy to a 2-percent range, while sharply raising its inflation outlook to over 4 percent amid heighte
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Inflation in all S. Korean provinces, major cities up in Q1

SEOUL, May 18 (Yonhap) -- Consumer prices rose in all 17 provinces and major cities in the first quarter as high fuel costs and the economic recovery have put upward pressure on inflation, data showed Wednesday.Consumer inflation grew 3.8 percent in
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KDIC recoups more than 100 pct of bailout funds injected into Woori Financial

SEOUL, May 18 (Yonhap) -- South Korea's state deposit insurer said Wednesday it had retrieved more than 100 percent of the public funds spent to save Woori Financial Group Inc. in the wake of the 1997 financial crisis, as part of the government&#