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(LEAD) Computer failure causes massive disruption of budget carrier service

(ATTN: RECASTS headline, lead; UPDATES throughout) SEOUL, Nov. 12 (Yonhap) -- A computer system failure caused massive delays and cancellations of flights of Jin Air Co., a budget carrier, on Friday. The airline's passenger service system was dow
Financial watchdog punishes 3 brokerages in Lime fund scandal

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SEOUL, Nov. 12 (Yonhap) -- South Korea's financial regulator on Friday ordered three brokerages to suspend parts of operations or pay fines for their involvement in a major financial fraud scandal involving a now-defunct hedge fund. Once the nati
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(LEAD) KEPCO logs net loss in Q3 on higher fuel costs

SEOUL, Nov. 12 (Yonhap) -- Korea Electric Power Corp. on Friday reported a net loss in the third quarter of this year as it froze utility fees despite a hike in global fuel costs.Net losses came to 1.03 trillion won (US$872.88 million) during the Jul
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Hyundai Heavy workers vote for strike for higher pay

SEOUL, Nov. 12 (Yonhap) -- Unionized workers at Hyundai Heavy Industries Co. on Friday voted for a strike to demand higher pay and bonuses.In a four-day vote that ended Friday, 90.8 percent of the 5,369 union members agreed on industrial action unles
POSCO International to bring in 180,000 liters of urea solution from Australia, Mexico

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SEOUL, Nov. 12 (Yonhap) -- POSCO International Corp. a trading arm of South Korean steel giant POSCO, said Friday it has signed contracts with Australian and Mexican companies to bring in 180,000 liters of urea solution in an effort to help ease the
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Korean Air swings to black in Q3 on cargo demand

SEOUL, Nov. 12 (Yonhap) -- Korean Air Lines Co., South Korea's biggest carrier, said Friday it swung to the black in the third quarter compared with a year earlier, helped by strong cargo demand amid the extended COVID-19 pandemic.For the three m
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(LEAD) Court OKs Eastar Jet's restructuring plans

(ATTN: UPDATES information in 5th para) SEOUL, Nov. 12 (Yonhap) -- A Seoul court on Friday approved the restructuring plans submitted by Eastar Jet Co. paving the way for the budget carrier to resume flights amid an accelerating vaccination campaign.
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S. Korea says it can secure 5-month stockpile of urea solution amid supply shortage

SEOUL, Nov. 12 (Yonhap) -- South Korea said Friday it can secure a total of a five-month stockpile of urea solution for vehicles through more imports amid a supply shortage of the key fluid needed in diesel cars to cut emissions.The government said i
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Jin Air offers alternative Korean Air flights after boarding delays

SEOUL, Nov. 12 (Yonhap) -- Jin Air Co. said Friday its parent company Korean Air Lines Co. will offer six alternative flights for the budget carrier as computing system errors caused massive delays in flight schedules. Jin Air's passenger service
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Court OKs Eastar Jet's restructuring plans

SEOUL, Nov. 12 (Yonhap) -- A Seoul court on Friday approved the restructuring plans submitted by Eastar Jet Co. paving the way for the budget carrier to resume flights amid an accelerating vaccination campaign.The Seoul Bankruptcy Court's approva
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GM to launch 10 EVs in S. Korea by 2025

By Choi Kyong-aeSEOUL, Nov. 12 (Yonhap) -- General Motors Co. said Friday it will launch 10 electric vehicles in South Korea by 2025 as part of its strategy to gradually shift away from internal combustion engine cars to zero-emission ones.GM Senior
Korea Electric Power shifts to loss in Q3

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SEOUL, Nov. 12 (Yonhap) -- Korea Electric Power Corp. on Friday reported its third-quarter net loss of 1.02 trillion won (US$869.1 million), shifting from a profit of 1.25 trillion won a year earlier.The company said in a regulatory filing that it po
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(LEAD) Domestic demand to gradually recover amid eased virus restrictions: ministry

(ATTN: UPDATES with more details in paras 14-16)By Kim Soo-yeonSEOUL, Nov. 12 (Yonhap) -- South Korea's domestic demand is expected to gradually recover as in-person service segments will likely rebound amid the country's eased virus restrict
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Domestic demand to gradually recover amid eased virus restrictions: ministry

By Kim Soo-yeonSEOUL, Nov. 12 (Yonhap) -- South Korea's domestic demand is expected to gradually recover as in-person service segments will likely rebound amid the country's eased virus restrictions, the finance ministry said Friday.But Asia&
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S. Korea temporarily cuts fuel taxes to tackle soaring oil prices

SEOUL, Nov. 12 (Yonhap) -- South Korea temporarily lowered fuel taxes Friday in an effort to ease the impact of surging oil prices on the country's consumer inflation and people's lives.Government officials said the 20 percent reduction in ta
Export prices up for 11th straight month in October

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SEOUL, Nov. 12 (Yonhap) -- South Korea's export prices grew for the 11th straight month in October due to rises in prices of energy and chemical products, central bank data showed Friday. The export price index came to 116.18 in October, up 1.6 p
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Kia to sell only EVs in Europe from 2035

SEOUL, Nov. 11 (Yonhap) -- Kia Corp., South Korea's second-biggest carmaker, said Thursday it will sell only electric vehicles in Europe from 2035 and in other major markets from 2040 as it seeks to gradually phase out internal combustion-engine
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(2nd LD) U.S. diplomat for East Asia policy discusses North Korea, alliance, supply chains in Seoul

(ATTN: UPDATES throughout with latest details, comments; CHANGES headline, lead, photos)By Kim Eun-jungSEOUL, Nov. 11 (Yonhap) -- The top U.S. diplomat for East Asia met with South Korean officials Thursday to discuss North Korea, the bilateral allia
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Nat'l Assembly votes to repeal decade-old anti-online gaming rule for minors

anti-gaming rule-repealNat'l Assembly votes to repeal decade-old anti-online gaming rule for minorsSEOUL, Nov. 11 (Yonhap) -- The National Assembly voted Thursday to abolish a decade-old controver
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S. Korea begins producing urea solution with secured urea via crackdown

SEOUL, Nov. 11 (Yonhap) -- South Korea said Thursday it has begun producing 2 million liters of urea solution, a move that could temporarily ease its supply shortage of the key material used in diesel cars to cut emissions.The move came a day after t