Samsung chief calls for active MLCC response in Philippines

Samsung Electronics Chairman Lee Jae-yong visited the production base of multilayer ceramic capacitors for Samsung Electro-Mechanics, the electronic parts manufacturing affiliate of Samsung Electronics, in Calamba, Philippines, Sunday, according to the tech giant on Monday. The chairman reviewed business strategies and stressed the importance of taking advantage of opportunities arising from expanding markets such as artificial intelligence, robots and electric vehicles. Lee also discussed futur

IndustryOct. 7, 2024

Musical artists dazzle at Wellness Seoul 2024’s grand finale

Set against the beautiful backdrop of the Banpo Bridge’s fountains cascading over the Han River, Wellness Seoul 2024 concluded on Sunday evening with performances by an orchestra, popera singers and a guitarist -- all delivering a message of embracing a quality, healthy life through the appreciation of music in everyday life. The highlight of the evening event -- the namesake Wellness Seoul Concert -- was British popera singer Paul Potts, who performed pieces including “Impossible Dr

PerformanceOct. 7, 2024

LG Energy Solution pledges to double sales by 2028

LG Energy Solution on Monday vowed to double its annual sales by 2028 based on expanding and diversifying battery businesses outside of electric vehicles while continuing to secure technological leadership in the EV battery sector. “We will not settle at producing and selling batteries anymore, but we will establish a paradigm of subscription economy for batteries based on our battery diagnosis and management technologies,” said Kim Dong-myung, CEO of LG Energy Solution, during the c

CompaniesOct. 7, 2024

Young civil servants dislike treating seniors to meals: survey

Nearly 70 percent of government workers dislike a long-standing custom in their workplaces that encourages lower-level officials to occasionally treat their superiors to a meal. Some 75.7 percent of respondents said they were aware of the tradition, according to a survey of 12,526 government officials across the country conducted by Rep. Wi Seong-gon of the main opposition Democratic Party of Korea. Nearly half -- 44 percent -- had experienced the custom within the past year. But the survey sh

Social AffairsOct. 7, 2024

One dead, three injured in wrong-way, multi-vehicle crash on Gyeongin Expressway

One person was killed and three others were injured in a multi-vehicle collision caused by a driver going the wrong way on the Gyeongin Expressway early Monday morning. According to the Incheon Metropolitan Police and Incheon Fire Department, the crash occurred at 5:20 a.m. at the Bupyeong Interchange in Incheon, when a Chinese woman in her 40s drove her compact car onto the exit ramp in the wrong direction and collided with a van while attempting to merge onto the main highway. The collision ca

Social AffairsOct. 7, 2024

Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties

MANILA, Philippines -- President Yoon Suk Yeol and his Philippines counterpart Ferdinand Marcos Jr. agreed on South Korea's greater participation in the Southeast Asian country's bid to boost military readiness, build infrastructure and introduce nuclear energy, according to Yoon's office on Monday. During the bilateral meeting of Yoon and Marcos, Seoul and Manila elevated their ties to a Strategic Partnership. The declaration will "open a new chapter of our partnership,"

PoliticsOct. 7, 2024

38 Koreans murdered in Philippines since 2015: report

More South Koreans were murdered in the Philippines than in any other Asia-Pacific nation from 2015 to June, according to government data released Monday. A total of 86 South Koreans were murdered in the region -- excluding Korea -- according to the Ministry of Foreign Affairs data submitted to Rep. Kim Yeong-bae of the main opposition Democratic Party of Korea. Thirty-eight Koreans were killed in the Philippines, far surpassing the second-highest count of 13 that were murdered in Japan. China

Social AffairsOct. 7, 2024

Samsung Biologics to lure global clients at CPHI 2024

South Korea's leading contract development and manufacturing organization Samsung Biologics said Monday it will participate in Europe’s largest bio conference, the Convention on Pharmaceutical Ingredients Worldwide 2024. The CPHI, one of the biggest bio conferences, is held annually in major European markets. This year, it takes place in Milan from Tuesday to Thursday, with over 2,400 companies from 166 countries and 62,000 attendees expected to join. Samsung has been setting up its e

IndustryOct. 7, 2024

What divorcees want in new marriage: money and 'vigor in life'

The primary goals for South Korean divorcees when they remarry include economic stability and a chance to revitalize their lives, a recent survey by a local matchmaker showed. Only-You, a matchmaking firm dealing exclusively with divorcees, conducted a survey of 258 men and 258 women to find out what they are looking for most in starting a life with a new spouse. Of the women, 35.3 percent said they hoped to improve their financial situation, while 25.2 percent said they were looking for stabi

Social AffairsOct. 7, 2024

NK resumes trash balloon campaign, 25th launch this year

North Korea sent yet another fleet of garbage-filled balloons southward early Monday, marking the 25th such provocation this year and potentially adding to the property damage and injuries the balloons have caused already. The Joint Chiefs of Staff said that the balloons, presumed to be filled with trash, are projected to move toward the greater Seoul area, Incheon and Gyeonggi Province. The JCS advised citizens not to approach the balloons and warned of potential danger when they fall to the gr

North KoreaOct. 7, 2024

Ex-president's daughter investigated for drunk driving accident

The daughter of previous President Moon Jae-in has come under investigation by police concerning a drunk driving accident, which has sparked criticism from the conservative bloc against the liberal president that had called driving under the influence of alcohol "an action that amounts to murder." Seoul Yongsan Police Station said that 40-year-old Moon Da-hye drove her car into a taxi at around 2:50 a.m. Saturday in Itaewon-dong, Seoul, while driving drunk. Moon's blood alcohol co

Social AffairsOct. 7, 2024

[Bills in Focus] Protecting small retailers, boosting recycling

Proposed Bill: Partial Amendment to the Income Tax Act Proposed by Rep. Lim Kwang-hyun (Democratic Party of Korea) ● To prevent a contraction in the domestic stock market with the implementation of the financial investment income tax in 2025, this amendment proposes increasing the basic deduction for financial investment income tax from 50 million won ($37,200) to 100 million won. Proposed Bill: Partial Amendment to the Distribution Industry Development Act Proposed by Rep. Oh Sae-hee (Democra

PoliticsOct. 7, 2024

Regulator to begin probe into TikTok over potential violation of personal data law

South Korea's media regulator is set to look into TikTok over a potential violation of the nation's personal data protection law, an official at the regulator said Monday. TikTok is accused of automatically requiring its users to receive advertisements, instead of letting users give their consent to receive such content under the Korean law, according to industry sources. The Korea Communications Commission suspects that TikTok may be violating the Act on Promotion of Information and C

EconomyOct. 7, 2024

Yoon's approval rating remains below 30% for 2nd straight week: Realmeter poll

President Yoon Suk Yeol's approval rating inched up to 27.9 percent from a week earlier but remained below the 30 percent mark for the second consecutive week, a survey showed Monday. According to the survey by Realmeter and commissioned by a local news outlet, the positive assessment of Yoon's performance rose 2.1 percentage points from the previous week, when it recorded the lowest level in Realmeter surveys since he took office in 2022. The negative assessment of Yoon fell 2.7 perce

PoliticsOct. 7, 2024

N. Korea decries NATO's condemnation of its military cooperation with Russia

North Korea has denounced the North Atlantic Treaty Organization's condemnation of military cooperation between the North and Russia, warning that the entity could face "tragic consequences" if it continues to pursue an anti-North Korea stance. NATO issued a statement last week that condemns North Korea and Iran for "fueling" Russia's war of aggression against Ukraine with their direct military support to Moscow. North Korea's foreign ministry on Sunday denounc

Foreign AffairsOct. 7, 2024

Parliamentary inspection of govt., state agencies to kick off for 26-day run

The National Assembly is set to kick off its annual inspection of the government and state agencies Monday for a 26-day run. On the first day of the audit, 10 of the Assembly's 17 standing committees will hold inspection hearings to scrutinize the management of the central and regional governments as well as their agencies. The Legislation and Judiciary Committee, the Foreign Affairs and Unification Committee and the Public Administration and Security Committee will be among the 10 committe

PoliticsOct. 7, 2024

Foreign reserves up for 3rd month in Sept. on weak dollar, investment gains

South Korea's foreign reserves increased for the third straight month in September on the back of the increased value of non-US dollar assets and investment gains, central bank data showed Monday. The country's foreign reserves had come to $419.97 billion as of end-September, up $4.05 billion from the previous month, according to the data from the Bank of Korea. The central bank attributed the increase to a rise in the converted value of non-dollar assets amid the weak greenback and in

EconomyOct. 7, 2024

Seoul shares open higher on battery, auto gains

Seoul stocks opened higher Monday led by gains among battery and automotive shares. The benchmark Korea Composite Stock Price Index rose 0.21 percent, or 5.33 points, to 2,575.04 in the first 15 minutes of trading. Battery manufacturers and automakers led the overall gains, with leading battery maker LG Energy Solution jumping 2.85 percent and top automaker Hyundai Motor adding 1.46 percent. Financial firms also gained traction, with KB Financial rising 1.57 percent and Shinhan Financial up 0.55

MarketOct. 7, 2024

Yoon honors veterans of Korean War in trip to Philippines

President Yoon Suk Yeol began his state visit to the Philippines on Sunday by honoring fallen soldiers who fought in the 1950-53 Korean War and meeting with Korean nationals in the nation. Yoon visited the Korean War Memorial Pylon at the Heroes' Cemetery in Manila with first lady Kim Keon Hee on the first day of his two-day trip focused on strengthening economic and security ties. "South Korea and the Philippines have maintained close, friendly relations, and the Philippines was the first

PoliticsOct. 7, 2024

[Graphic News] Chelsea tops transfer spending, surpassing $1.3b

Chelsea Football Club has been named the most expensive soccer team in the world, according to the CIES Football Observatory, a Swiss research center. In its latest report, Chelsea ranked first among the top 100 clubs for spending the most on transfer fees. Since American businessman Todd Boehly acquired the club from Roman Abramovich in 2022, Chelsea has invested approximately $1.39 billion on player transfers. Despite this heavy expenditure, the club finished 12th in the 2022-23 Premier Leag

SoccerOct. 7, 2024