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S. Korea to invest over 20 tln won in data, network, AI sectors
SEOUL, March 25 (Yonhap) -- South Korea plans to invest more than 20 trillion won (US$16.4 billion) in data, network and artificial intelligence (AI) sectors over the next three years in a bid to help nurture future-oriented industries, the finance m
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Kia to build purpose-built vehicle plant in S. Korea
SEOUL, March 25 (Yonhap) -- Kia Corp., South Korea's second-biggest carmaker, said Friday it will build a purpose-built vehicle (PBV) plant in one of its domestic plants, as it strives to become a future mobility solutions provider. Kia plans to
Top headlines in major S. Korean newspapers
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SEOUL, March 25 (Yonhap) -- The following are the top in major South Korean newspapers on March 25.Korean-language dailies-- N. Korea fires ICBM, breaks moratorium on nuke, long-range missile tests (Kyunghyang Shinmun)-- N. Korea crosses 'ICBM r
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UAE begins commercial operations of S. Korean-built No. 2 nuclear reactor
SEOUL, March 24 (Yonhap) -- The United Arab Emirates (UAE) has started commercial operations at the second unit of the South Korean-built Barakah nuclear power plant, the country's nuclear energy corporation and South Korea's state-run utilit
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(LEAD) Hyundai Motor chairman reelected as executive director
(ATTN: UPDATES with details in paras 4-6)SEOUL, March 24 (Yonhap) -- Shareholders of Hyundai Motor Co. have reelected Chairman Euisun Chung as executive director for another three years, the company said Thursday. Chung will begin his extended direct
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Daewoo Shipbuilding wins 863.5 bln-won LNG ship order in North America
SEOUL, March 24 (Yonhap) -- South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. said Thursday it has clinched a 863.5 billion-won (US$710 million) liquefied natural gas ship order in North America.Daewoo Shipbuilding bagged the deal fr
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S. Korea, Australia to launch joint carbon capture project this year
SEOUL, March 24 (Yonhap) -- South Korea and Australia will push to launch a joint project on carbon capture and storage worth 5.8 billion won (US$4.76 million) this year as part of efforts to boost bilateral cooperation in new energy fields, Seoul
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70 pct of firms eye better biz conditions under new gov't: poll
SEOUL, March 24 (Yonhap) -- Slightly over 7 in 10 South Korean companies expect their managerial conditions to improve under the country's incoming government, a poll showed Thursday.According to the survey of 202 firms with a workforce of 30 or
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Smoking rate in S. Korea hits all-time low in 2020
SEOUL, March 24 (Yonhap) -- The smoking rate of South Koreans aged 19 and older fell below 20 percent for the first time in 2020 amid growing public awareness of health and the government's anti-smoking drive, a report showed Thursday.The smoking
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FSS chief urges insurers to beef up loss reserves amid growing uncertainty
SEOUL, March 24 (Yonhap) -- South Korea's financial regulator called Thursday for local insurers to increase their loan loss reserves as part of efforts to better cope with potential risks facing the industry amid increasing financial market unce
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Hyundai Motor chairman reelected as executive director
SEOUL, March 24 (Yonhap) -- Shareholders of Hyundai Motor Co. have reelected Chairman Euisun Chung as executive director for another three years, the company said Thursday. Chung will begin his extended director role on April 1 to lead the South Kore
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POSCO breaks ground on lithium plant in Argentina
SEOUL, March 24 (Yonhap) -- South Korean steel giant POSCO said Thursday it has broken ground on a lithium hydroxide plant in Argentina.The US$830 million project calls for the establishment of the plant near the Salar del Hombre Muerto salt lake in
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S. Korea's snack exports hit record high last year
SEOUL, March 24 (Yonhap) -- South Korea's exports of snacks hit a record high last year on the back of demand by stay-at-home consumers amid the COVID-19 pandemic and the popularity of the Korean pop culture, customs data showed Thursday.Exports
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SK E&S acquires U.S. EV charging platform operator
SEOUL, March 24 (Yonhap) -- SK E&S Co., the natural gas provider under South Korean conglomerate SK Group, said Thursday it has acquired a U.S. electric vehicle (EV) charging platform operator as part of its push for green energy business.The acquisi
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BOK chief nominee vows to consider growth, inflation, financial instability 'in balancing manner'
SEOUL, March 24 (Yonhap) -- Rhee Chang-yong, the nominee for chief of the Bank of Korea (BOK), said Thursday he will carry out monetary policy by taking into account economic growth, inflation and financial stability "in a balancing manner,&qu
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LG Energy Solution to build new EV battery plants in U.S., Canada
SEOUL, March 24 (Yonhap) -- South Korean battery maker LG Energy Solution Ltd. (LGES) said Thursday it is spending 1.7 trillion won (US$1.39 billion) to build its second standalone electric vehicle (EV) battery plant in the U.S. state of Arizona as i
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Corporate direct financing tumbles 44 pct in Feb.
SEOUL, March 24 (Yonhap) -- Corporate direct financing in South Korea plunged nearly 44 percent in February from the previous month due mainly to a base effect, data showed Thursday.Local companies raised a combined 15.5 trillion won (US$12.7 billion
(EDITORIAL from Korea JoongAng Daily on March 24)
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Basic decency, gentlemen!On Wednesday, President Moon Jae-in nominated Rhee Chang-yong, director of the IMF's Asia and Pacific Department, as the next governor of the Bank of Korea. The 62-year-old economist is known to be favored by President-el
(EDITORIAL from Korea Times on March 24)
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Intensifying conflictsMoon, Yoon should meet to narrow differencesA clash is intensifying between the incoming and outgoing administrations over President-elect Yoon Suk-yeol's plan to relocate the presidential office to the of Ministry of Nation
(EDITORIAL from Korea Herald on March 24)
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Wrong targetRuling party moves to 'reform' media in bid to shift blame for its election defeatThe ruling Democratic Party of Korea is forging a strange logic for the defeat in the March 9 presidential election. Its misguided target is none ot
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