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  Yoon meets with businesspeople over 'chimaek'

  By Lee Haye-ahSEOUL, May 24 (Yonhap) -- President Yoon Suk Yeol has met with a group of businesspeople over chicken and beer on the front lawn of his office, saying the government is doing its best to support them by ensuring the market runs fairly a
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  Biz outlook edges up for June on hope for corporate earnings, domestic recovery

  SEOUL, May 24 (Yonhap) -- South Korea's business sentiment slightly improved for June amid expectations that earnings in key sectors and domestic demand may improve, a central bank poll showed Wednesday.Local companies' business sentiment ind
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  WTO chief calls for diversification of supply chains for trade resilience

  By Kim Seung-yeonSEOUL, May 23 (Yonhap) -- Ngozi Okonjo-Iweala, the director general of the World Trade Organization (WTO), on Tuesday called on countries to "deconcentrate" their supply chains, instead of forming blocs to marginalize oth
• Sewon to raise 5 bln won via stock offering

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  SEOUL, May 23 (Yonhap) -- Sewon Co.on Tuesday announced that it will sell stock to raise 5 billion won (US$3.8 million). The proceeds from the stock sale will be used mainly to finance its operations.According to a regulatory filing, the company will
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  SK bioscience calls for global cooperation on sharing vaccine manufacturing capacity

  SEOUL, May 23 (Yonhap) -- SK bioscience Co., a pharmaceutical affiliate under South Korea's SK Group, said Tuesday it has called for stronger global cooperation to share vaccine manufacturing capabilities with underdeveloped countries for wider a
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  Dutch chip firm ASM to invest US$100 mln to build new facility in S. Korea

  By Kim Na-youngSEOUL, May 23 (Yonhap) -- Dutch semiconductor equipment maker ASM will invest US$100 million to build a new production and research and development center in South Korea by 2025, a top executive said Tuesday.The decision underscored AS
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  (LEAD) DSME renamed Hanwha Ocean for new start as Hanwha unit

  (ATTN: ADDS more details in paras 3-6; CHANGES photo)SEOUL, May 23 (Yonhap) -- Major South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) was rebranded as Hanwha Ocean Co. on Tuesday, opening a new era as a unit of Hanwha Grou
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  S. Korea to extend 14 tln won of support to prop up auto parts industry

  SEOUL, May 23 (Yonhap) -- The South Korean government and major carmakers will extend combined support worth more than 14.3 trillion won (US$10.9 billion) to the auto parts industry for technology development and securing necessary liquidity in the l
• Daewoo Shipbuilding & Marine Engineering to raise 141.3 bln won via stock sale

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  SEOUL, May 23 (Yonhap) -- Daewoo Shipbuilding & Marine Engineering Co. on Tuesday announced that it will sell stock to raise 141.3 billion won(US$107.7 million). The proceeds from the stock offering will be used primarily to pay off its debts.Accordi
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  Exports by conglomerates up 6 pct in 2022: data

  By Kang Yoon-seungSEOUL, May 23 (Yonhap) -- Exports by South Korean conglomerates rose 6 percent on-year in 2022, led by mining and manufacturing sectors, data showed Tuesday.Outbound shipments by large-sized companies reached US$444.7 billion in 202
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  Household credit shrinks at sharpest pace ever in Q1 amid high borrowing costs

  SEOUL, May 23 (Yonhap) -- South Korea's household credit shrank at the sharpest pace ever in the first quarter of the year amid high interest rates driven by the central bank's monetary tightening to bring down inflation, data showed Tuesday.
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  Cabinet approves new intra-affiliate trading rules

  By Kang Yoon-seungSEOUL, May 23 (Yonhap) -- South Korea's Cabinet passed a new regulation on Tuesday regarding intra-affiliate trading, which aims to reduce excessive regulations by lowering the trading volume ceiling that requires regulatory fil
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  WTO chief says digital technology a key factor in future trade

  SEOUL, May 23 (Yonhap) -- The chief of the World Trade Organization (WTO) said Tuesday that digital technologies will serve as a key factor that affects trade in the future, adding that her agency will play a role in facilitating the digital-based gl
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  DSME renamed Hanwha Ocean for new start as Hanwha unit

  SEOUL, May 23 (Yonhap) -- Major South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) was rebranded as Hanwha Ocean Co. on Tuesday, opening a new era as a unit of Hanwha Group, the seventh-largest conglomerate in the country.Th
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  Nat'l pension reports worst returns in 2022 amid global jitters: data

  SEOUL, May 23 (Yonhap) -- South Korea's state pension operator saw its returns fall to a record low level in 2022, data showed Tuesday, due to the instability in the global financial market amid monetary tightening moves.The National Pension Serv
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  S. Korea's new COVID-19 cases hit around 21,000

  SEOUL, May 23 (Yonhap) -- South Korea's new COVID-19 cases hit around 21,000 on Tuesday in a steady decline from the previous week, as the country is returning to pre-pandemic normalcy with almost all virus restrictions gone.The country reported
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  S. Korea, Chile hold talks to upgrade bilateral FTA

  SEOUL, May 23 (Yonhap) -- South Korea and Chile have launched another round of talks on upgrading a bilateral free trade agreement (FTA) in line with changing global trade circumstances, Seoul's industry ministry said Tuesday.The seventh round of
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  (URGENT) S. Korea adds 15 more COVID-19 deaths, total at 34,702: KDCA

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• (URGENT) S. Korea reports 21,385 new COVID-19 cases: KDCA

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• (EDITORIAL from Korea JoongAng Daily on May 23)

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  Weathering the war on the chip frontAfter the United States launched a war to redraw the global chip map, Korea's chip industry is also reshaping. The U.S. is ratcheting up tension with China after translating its move toward semiconductor indepe