Shinhan Financial Group to enhance corporate value by 2027

Shinhan Financial Group on Friday unveiled a corporate value enhancement plan detailing specific targets and strategies to boost profitability. According to the plan, the financial giant aims to achieve a 10 percent return on equity, a 50 percent shareholder return rate and reduce its shares by 50 million by 2027. To reach a 50 percent shareholder return rate, Shinhan plans to decrease the number of shares through ongoing stock buybacks and cancellations. Last year, the company's shareholde

IndustryJuly 26, 2024

National Theater Company's 'Hamlet' delves into political drama

Three distinct interpretations of the Shakespearean tragedy "Hamlet" are coming to Korea's stages in the coming months, showing that a timeless classic can still be made new. Prince Hamlet is Princess Hamlet in the production by the National Theater Company of Korea, whereas Seensee's production directed by Sohn Jin-chaek and currently running at the Hongik Art Center turns to contemporary mise-en-scene for new inspiration. October will see yet another "Hamlet," dir

PerformanceJuly 26, 2024

Seoul Summer Beach invites people to splash in Seoul’s center

Seoul City’s signature summer festival “Seoul Summer Beach” has returned to Gwanghwamun Plaza in central Seoul, with a larger swimming zone than last year and new facilities to help beat the heat. The second edition of the festival began its 17-day operation Friday afternoon with an opening ceremony, according to its operator the Seoul Tourism Organization. Seoul Summer Beach consists of a water zone, Gwanghwa Waterpark, and a zone in front of the Statue of King Sejong the Grea

TravelJuly 26, 2024

Kia posts record operating profit in Q2

Kia logged another record profit in the second quarter on Friday, driven by an enhanced product mix, higher average selling price and favorable exchange rates. During the April-June period, Kia achieved two new records -- 3.64 trillion won ($2.63 billion) in operating profit and a 13.2 percent operating profit margin -- in second-quarter earnings, continuing to break records for two straight quarters. The automaker’s quarterly operating profit increased by 7.1 percent in comparison to the

MobilityJuly 26, 2024

Over 100 heat-related illness cases reported in 3 days: govt.

With the monsoon season coming to an end, South Korea has seen a surge in the number of days with scorching heat, leading to a rapid increase in the number of cases of heat-related illnesses. According to the Korea Disease Control and Prevention Agency on Friday, 507 medical institutions equipped with emergency rooms reported to the agency that they saw 124 patients with heat-related illnesses from Monday to Wednesday, 55 of which were from Wednesday alone. The KDCA added that 16.3 percent of th

Social AffairsJuly 26, 2024

Liberation Day eve concert with Song Ga-in at Gwanghwamun

A concert titled "8.15 Seoul My Soul" will be held at Gwanghwamun Square at 7 p.m. on Aug. 14, to celebrate Liberation Day, with "queen of trot" Song Ga-in performing the finale. The Sejong Center for the Performing Arts, in collaboration with the Seoul Metropolitan Government, is organizing the event to commemorate the 79th anniversary of Liberation Day. The concert will begin with a performance by male percussion group Tago. Also performing will be Seodo Band, who describe

PerformanceJuly 26, 2024

Match made in temple

Buddhist monks in South Korea are increasingly embracing a new role -- matchmaking. “To us, monks helping singles match up isn’t all that new. We launched a templestay program for singles in early 2012. It just hadn’t made headlines like today,” an official of the Korean Buddhist Foundation for Social Welfare said Friday. The official at the foundation, run by the Jogye Order of Korean Buddhism, was referring to a long-running program where participants learn about tradit

CultureJuly 26, 2024

Hana chief cleared of severe punishment in DLF crisis

After a four-year legal battle, Hana Financial Group Chairman Ham Young-joo has escaped regulatory punishment imposed for internal control failure involving the misselling of derivatives-linked funds. On Thursday, the Supreme Court upheld the appellate court's decision to cancel the major disciplinary action taken by financial authorities on Ham over the losses from the overseas interest rate-linked derivative fund incident in 2019. The top court confirmed the lower court’s ruling, wh

IndustryJuly 26, 2024

First lady skips parliamentary hearing

First lady Kim Keon Hee’s absence at an opposition-led parliamentary hearing on Friday sparked a protest by opposition parties, while the ruling party came to her defense. Kim and her mother failing to appear as witnesses at the hearing organized by the National Assembly’s Legislation and Judiciary Committee Friday morning, to review an online petition with some 1.4 million signatures calling for the impeachment of her husband President Yoon Suk Yeol. The impeachment motion against Y

PoliticsJuly 26, 2024

Cash-crunched Tmon begins refund process for customers

Tmon, an online marketplace platform owned by Singapore-based e-commerce company Qoo10, on Friday, started issuing refunds to customers who did not receive their products purchased on the platform hit by a liquidity crisis. This move comes a day after the CEO of WeMakePrice, another affiliate of Qoo10, offered an apology and began issuing refunds as hundreds of consumers visited the headquarters of the online marketplace platform. Tmon and WeMakePrice, which were acquired by Qoo10 in 2022 and 20

CompaniesJuly 26, 2024

[Today’s K-pop] Treasure to publish magazine for debut anniversary

Treasure has put together a magazine to mark the fourth anniversary of its debut, according to label YG Entertainment Friday. The magazine will be available from Aug. 7 and include a 188-page photobook and sticker book as well as a set of photocards and a poster. A postcard bearing the message from the bandmates along with pictures drawn by them will also be part of the publication. Separately, the ten members are set to host a concert in Seoul on Aug. 15. It will be the final gig for their seco

K-popJuly 26, 2024

Pet daycare, English kindergarten more costly than private four-year colleges: report

The annual tuition to a private South Korean university last year was lower than that of pet daycare and English kindergarten, according to research published Tuesday. A report analyzing private education costs at different levels of schooling published by the Korean Association of Private University Presidents found the average annual school fee for private four-year colleges in 2023 was 7.32 million won ($5,283.67), or an average of 610,000 won per month. The cost of daycare facilities for pe

Social AffairsJuly 26, 2024

Medical services scaled back as doctors gather for protest, discussion forum

As the stalemate in South Korea's medical circle enters its sixth month following the government's announcement of a drastic hike in the medical school admissions quota, doctors nationwide once again suspended services on Friday, calling on the government to drop the plan. In the early morning, the emergency committees of medical professors at Kangwon National University and Chungbuk National University Hospitals, joined by trainee doctors, medical students and their parents, held a ra

Social AffairsJuly 26, 2024

Seoul shares snap 2-day fall on large cap gains

South Korean shares closed sharply higher Friday, ending a two-day losing streak on large cap gains led by financial firms and shipbuilding companies. The local currency fell slightly against the US dollar. The benchmark Korea Composite Stock Price Index added 21.25 points, or 0.78 percent, to close at 2,731.90. Trading volume was moderate at 504.7 million shares worth 12.8 trillion won ($9.24 billion), with gainers outnumbering losers 594 to 288. Institutions purchased a net 394 billion won wor

MarketJuly 26, 2024

Posco threads new life to old uniforms for Philippine communities

Posco Group announced Friday that it donated 30,000 uniforms that no longer serve its employees to be upcycled for communities in the Philippines affected by disasters. After introducing new uniforms in February, Posco sought ways to utilize the former ones. This latest effort brings their total number of donated uniforms to 100,000, following previous donations to vulnerable groups in Mongolia and Madagascar. The company collaborated with non-governmental organizations active in international r

IndustryJuly 26, 2024

NCSoft releases sustainability report to meet global green standards

NCSoft announced Friday the publication of its fourth sustainability report, highlighting its commitment to achieving global standards in environmental management. The game firm’s "ESG Playbook 2023" includes its environmental, social and governance strategies and key accomplishments from the previous year under domestic and international disclosure standards. The report complies with global guidelines such as the Global Reporting Initiative Standards, Sustainability Accounting S

IndustryJuly 26, 2024

Paris braces for 'most incredible' Olympics opening ceremony

PARIS (AFP) -- Thousands of athletes are set to sail through central Paris on Friday during an unprecedented and high-risk Olympics opening ceremony that will showcase the country's hugely ambitious vision for the Games. The parade on Friday evening will see up to 7,500 competitors travel down a six-kilometer stretch of the river Seine on a flotilla of 85 boats. Compared to the Covid-blighted 2020 Tokyo Olympics, which were delayed by a year and opened in an empty stadium, the Paris show wi

More SportsJuly 26, 2024

BTS Jimin tops Spotify’s Daily Top Song Global chart for 2 days

Jimin of BTS’ “Who,” the lead track from his second solo album, “Muse,” ranked at the top of Spotify’s Daily Top Song Global chart for two consecutive days, July 23-24. Only two K-pop solo artists have topped the chart so far and both are BTS members: Jimin and Jungkook. “Who” debuted on Spotify’s Daily Top Song Global chart at No. 3 on July 19, recording the most daily streams among K-pop songs released this year. "Who" is a hip-ho

K-popJuly 26, 2024

What we know about the Paris Olympics opening ceremony

PARIS (AFP) -- Plans for the opening ceremony at the Paris Olympics -- the first time a Summer Games will start outside a stadium -- have been a closely guarded secret. Here is what we know about the concept, the artists and the music: What's the concept? Instead of using the main athletics stadium for the opening parade, as is customary, organizers have moved the event outside and into the heart of the capital -- in keeping with their motto "Games Wide Open." Around 6,000-7,000

More SportsJuly 26, 2024

Actor’s excessive airport security sparks probe into human rights violations

The National Human Rights Commission of Korea said Friday that it launched an investigation into allegations of excessive security measures involving actor Byeon Woo-seok. The investigation follows a complaint submitted on July 14, accusing the security measures during Byeon’s recent travels of infringing on human rights. The NHRCK will examine whether the airport's security team was complicit in the actions of a private security firm, which included blocking gates and conducting ticket an

Social AffairsJuly 26, 2024