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  Court sets new deadline for SsangYong to find new owner

  SEOUL, March 29 (Yonhap) -- A Seoul court has set a new deadline for SsangYong Motor Co., under court receivership, to find a new owner as its preferred bidder failed to make a full payment to acquire the carmaker, SsangYong said Tuesday.The Seoul Ba
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  (LEAD) S. Korea aims to underpin recovery, strengthen fiscal health in 2023 budget

  (ATTN: UPDATES with more details in last 5 paras)By Kim Soo-yeonSEOUL, March 29 (Yonhap) -- South Korea said Tuesday it plans to focus its fiscal policy for next year on propping up the economic recovery and strengthen fiscal soundness amid mounting
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  Eximbank suffers huge loss from loan to U.S shale gas investor: state auditor

  SEOUL, March 29 (Yonhap) -- The state-run Export-Import Bank of Korea (Eximbank) has suffered a loss of about 220 billion won (US$180 million) after granting a huge loan to a local investor in an American shale gas project without conducting a suffic
• Kobiolabs to raise 10 bln won via stock offering

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  SEOUL, March 29 (Yonhap) -- Kobiolabs Inc. on Tuesday announced that it will sell stocks to raise 10 billion won(US$8.2 million). The proceeds from the stock sale will be used mainly to finance stock acquisition.According to a regulatory filing, the
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  Over 70 pct of firms plan to hire new workers this year: poll

  SEOUL, March 29 (Yonhap) -- More than seven in 10 South Korean firms are planning to hire new employees this year amid an economic recovery, a poll showed Tuesday.The survey of 508 companies with 100 or more workers showed 72 percent of the responden
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  Wage workers' debt gains 10.3 pct in 2020

  SEJONG, March 29 (Yonhap) -- Debt held by wage workers in South Korea grew at a much faster pace in 2020 from a year earlier amid the fallout from the coronavirus pandemic, data showed Tuesday.Bank and non-bank loans extended to paid workers in Asia&
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  Hyundai Motor chairman reelected as Kia executive director

  SEOUL, March 29 (Yonhap) -- Shareholders of Kia Corp. have reelected Hyundai Motor Group Chairman Euisun Chung as executive director for another three years, the company said Tuesday. Chung will begin his extended director position on April 1 to lead
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  Retail sales up 4.7 pct in Feb. on online consumption growth amid pandemic

  SEOUL, March 29 (Yonhap) -- Retail sales in South Korea rose 4.7 percent in February from a year earlier on the back of growing online consumption amid the worst COVID-19 wave, the industry ministry said Tuesday.The combined sales of 25 major offline
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  S. Korea to speed up consultations with U.S. on envisioned Indo-Pacific Economic Framework

  SEOUL, March 29 (Yonhap) -- South Korea will boost consultations with the United States on the Indo-Pacific Economic Framework and begin actively collecting opinions from local experts about its possible participation, Seoul's industry ministry s
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  S. Korea aims to underpin recovery, strengthen fiscal health in 2023 budget

  By Kim Soo-yeonSEOUL, March 29 (Yonhap) -- South Korea said Tuesday it plans to focus its fiscal policy for next year on propping up the economic recovery and strengthen fiscal soundness amid mounting national debt.Under the 2023 budget guidelines, a
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  S. Korea to offer more tax incentives this year

  SEOUL, March 29 (Yonhap) -- Tax exemptions and incentives are expected to increase by 3.6 trillion won (US$2.9 billion) this year as the government seeks to underpin the economic recovery and support vulnerable people, the finance ministry said Tuesd
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  Central bank chief nominee underlines 'insight' on changes in int'l order to respond to rising uncertainty

  SEOUL, March 29 (Yonhap) -- The nominee for the new central bank chief on Tuesday underlined the importance of having "insight" on any changes in international order to better respond to rising external uncertainty.Rhee Chang-yong made th
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  KEPCO decides to freeze unit fuel cost for electricity rate for Q2 amid high inflation

  SEOUL, March 29 (Yonhap) -- South Korea's state-run Korea Electric Power Corp. (KEPCO) said Tuesday it will freeze the adjusted unit fuel cost, a key part of the country's electricity rates, in the second quarter despite high energy prices am
• (EDITORIAL from Korea Times on March 29)

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  Impact of higher oil pricesTake measures to minimize economic falloutThe rising international crude prices are spiking up domestic oil prices, increasing inflationary pressure and dimming the business outlook for local enterprises. The higher level o
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  Consumer sentiment ticks up in March amid eased virus curbs

  SEOUL, March 29 (Yonhap) -- South Korea's consumer sentiment ticked up in March, as the country eased social distancing curbs to bolster spending and help pandemic-hit small merchants, central bank data showed Tuesday.The composite consumer senti
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  IMF maintains 2022 growth outlook for S. Korean economy at 3 pct

  SEOUL, March 29 (Yonhap) -- The International Monetary Fund (IMF) on Tuesday maintained its 2022 growth outlook for South Korea at 3 percent as exports and investment will likely remain robust despite heightened economic uncertainty.The IMF's lat
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  (3rd LD) Edison's proposed acquisition of SsangYong Motor collapses on payment failure

  (ATTN: UPDATES with details in paras 6-7, 11)SEOUL, March 28 (Yonhap) -- SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Monday it has canceled the deal to sell its controlling stake to Edison Motors Co. d
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  Air Seoul to resume Incheon-Guam route in May

  SEOUL, March 28 (Yonhap) -- Air Seoul Inc., a South Korean low-cost carrier, said Monday it will resume flights on the Incheon-Guam route to preemptively respond to pent-up travel demand despite the extended COVID-19 pandemic. Air Seoul will offer tw
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  (2nd LD) Edison's proposed acquisition of SsangYong Motor collapses on payment failure

  (ATTN: UPDATES with details in paras 5-6, 10-13; CHANGES photos) SEOUL, March 28 (Yonhap) -- SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Monday it has canceled the deal to sell its controlling stake to
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  (2nd LD) Gov't seeks cancellation of HDC Hyundai's business registration over deadly Gwangju building collapse

  (ATTN: ADDS city government's comments in last 3 paras)GWANGJU/SEOUL, March 28 (Yonhap) -- The government on Monday sought the cancellation of HDC Hyundai Development Co.'s business registration in what could be the heaviest punishment agains