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S. Korea halts Canadian beef imports
SEOUL, Dec. 21 (Yonhap) -- South Korea on Tuesday suspended quarantine inspections of Canadian beef following the discovery of a mad cow case in the North American country.The agriculture ministry said the move effectively banning imports went into e
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Samsung takes over Intel as top chipmaker by revenue: report
By Woo Jae-yeonSEOUL, Dec. 21 (Yonhap) -- Samsung Electronics Co. took over the top spot in the global semiconductor market by revenue in the third quarter, a report showed Tuesday, on the back of strong memory chip sales. Industry tracker Omdia said
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(LEAD) Exports rise 20 pct in first 20 days of Dec.
(ATTN: UPDATES with more details from para 3)SEOUL, Dec. 21 (Yonhap) -- South Korea's exports grew 20 percent on-year in the first 20 days of December on the back of solid demand for chips and petroleum products, customs data showed Tuesday.The c
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S. Korea to increase investment to double supply of eco-friendly cars
SEOUL, Dec. 21 (Yonhap) -- South Korea plans to spend 2.4 trillion won (US$2 billion) next year to help double the accumulated sale of hydrogen and electric cars, the finance minister said Tuesday, in the latest move to reduce greenhouse gas emission
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Exports rise 20 pct in first 20 days of Dec.
SEOUL, Dec. 21 (Yonhap) -- South Korea's exports grew 20 percent on-year in the first 20 days of December on the back of solid demand for chips and petroleum products, customs data showed Tuesday.The country's outbound shipments stood at US$3
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245 S. Korean firms subject to global minimum corporate rate scheme: ministry
SEOUL, Dec. 20 (Yonhap) -- A total of 245 South Korean companies are expected to be affected by a new global agreement on a minimum corporate rate, the finance ministry said Monday.The ministry unveiled details of the Pillar 2 of the Base Erosion and
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(LEAD) S. Korea ups 2022 economic growth outlook to 3.1 pct
(ATTN: UPDATES with finance minister's remarks in paras 11-13, 19)By Kim Soo-yeonSEOUL, Dec. 20 (Yonhap) -- South Korea's finance ministry on Monday revised up its 2022 growth outlook for the country's economy to 3.1 percent, saying that
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(News Focus) Pandemic, election to put pressure on 2022 economic policy implementation
By Kim Soo-yeonSEOUL, Dec. 20 (Yonhap) -- South Korea on Monday unveiled the 2022 economic policy plan aimed at putting the economy on a full growth track, but the country may have difficulty in achieving the policy goals amid the latest upsurge in C
Gist of S. Korea's 2022 economic policy plan
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SEOUL, Dec. 20 (Yonhap) -- The following are the key economic policy measures planned for next year. The measures are aimed at putting the South Korean economy on a complete recovery path and laying the groundwork for becoming a "pace-setting&
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S. Korea ups 2022 economic growth outlook to 3.1 pct
By Kim Soo-yeonSEOUL, Dec. 20 (Yonhap) -- South Korea's finance ministry on Monday revised up its 2022 growth outlook for the country's economy to 3.1 percent, saying that exports and private spending will likely gain ground despite heightene
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Hyundai Heavy to present next-generation shipping mobility at CES 2022
SEOUL, Dec. 20 (Yonhap) -- South Korean shipbuilding giant Hyundai Heavy Industries Group said Monday that it will showcase its latest and next-generation mobility technologies at the upcoming Consumer Electronics Show (CES), making its debut at the
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KEPCO decides to freeze electricity rate for Q1 of 2022
SEOUL, Dec. 20 (Yonhap) -- South Korea's state power firm Korea Electric Power Corp. (KEPCO) said Monday it will freeze the country's electricity rates in the first quarter of 2022 amid rising inflation.KEPCO said it has decided to set the ad
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Edison reaches agreement on lower acquisition price for SsangYong
SEOUL, Dec. 19 (Yonhap) -- A South Korean consortium led by local electric carmaker Edison Motors Co. agreed to purchase the financially-troubled SsangYong Motor Co. at a lower price with an accounting firm overseeing the sales, sources said Sunday.T
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Samsung Electronics launches special team to pull up sales in China
SEOUL, Dec. 19 (Yonhap) -- Samsung Electronics Co. has established a special team to spearhead efforts to prop up sales of its mobile phones and electronic devices in the Chinese market, industry sources said Sunday.The new team will focus on mobile
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Hankook Tire resumes operations at its plants in S. Korea after strike
SEOUL, Dec. 19 (Yonhap) -- Hankook Tire & Technology Co., the world's sixth-largest tiremaker by sales, said it resumed operations at its two plants in South Korea on Sunday, 26 days after a strike began over this year's wage deal.The deal re
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Hyundai, Kia say eco-friendly cars surpass 10 pct of their global sales
SEOUL, Dec. 19 (Yonhap) -- Hyundai Motor Group said Sunday that environment-friendly vehicles topped 10 percent of its global car sales for the first time this year amid growing demand for electric cars.The country's top automotive conglomerate s
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British helicopter operator pre-orders 'Butterfly' air taxis being co-developed by Hanwha
SEOUL, Dec. 17 (Yonhap) -- British helicopter operator Bristow Group Inc. has pre-ordered about 20-50 electric air mobility aircraft being jointly developed by South Korea's Hanwha Systems Co. and U.S. Overair, according to industry sources Frida
Iljin Display to raise 30 bln won via stock sale
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SEOUL, Dec. 17 (Yonhap) -- Iljin Display Co.on Friday announced that it will sell stocks to raise 30 billion won(US$25.4 million). The proceeds from the stock offering will be used primarily to finance its operations.According to a regulatory filing,
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Lotte Chemical to invest 250 bln won to boost advanced concrete material production
SEOUL, Dec. 17 (Yonhap) -- Lotte Chemical Corp., a petrochemical unit of South Korean conglomerate Lotte Group, said Friday it will spend 250 billion won (US$211.4 million) to expand its domestic production line of ethylene oxide adduct (EOA), an adv
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Korea Aerospace inks deal for 800 bln won reconnaissance plane project
SEOUL, Dec. 17 (Yonhap) -- Korea Aerospace Industries Co. (KAI), South Korea's sole aircraft manufacturer, said Friday it has sealed a deal with the state arms procurement agency to develop new reconnaissance planes.Under the deal with the Defens
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