Korea Zinc pulls back on capital increase scheme

Korea Zinc Chairman Choi Yun-beom on Wednesday apologized to the public, canceling the company’s hastily-made capital increase plan that sent its shares on a roller-coaster ride in recent weeks. “Though the capital raise was planned to strengthen a more diverse and independent shareholder base consisting of general investors, I offer my sincere apology as the plan, drawn up in urgent and desperate circumstances, was inconsiderate of existing shareholders,” Choi said at a press

IndustryNov. 13, 2024

National Theater of Korea reignites folk spirit with pansori, folktales

The National Theater of Korea is set to present two new productions that celebrate the rich heritage of Korean performing arts. Featuring iconic pansori, or Korean traditional narrative singing, and an unexpected convergence of characters from classic folktales, these works promise to be a showcase of dynamic storytelling, captivating performances and a fresh take on timeless traditions. Tale of legendary pansori singer featuring greatest hits, tightrope acts Like a flying fish gliding swiftly

PerformanceNov. 13, 2024

Govt. cracks down on wedding industry

Amid prolonged controversy over excessive fees and a lack of transparency in the wedding industry, the South Korean government said it has mandated changes to contract terms at 18 major wedding planning firms. The Fair Trade Commission on Tuesday said it identified six types of unfair clauses in service agreements across 18 wedding planning companies that received the most consumer complaints over three months. These companies offer package weddings -- popular bundles consisting of pre-wedding s

Social AffairsNov. 13, 2024

[Contribution] Investment diary of a CIO’s son

By Steve Brice My youngest son is starting out on his investment journey. As background, he has been gifted some money, which he wants to invest for at least 7-10 years. He is not interested in finance, although he is interested in making money. He is about to go to university in February and expects to be busy. Therefore, he wants to have an investment plan which he does not have to monitor excessively. He is obviously worried about investing at exactly the wrong time, as is common with most

IndustryNov. 13, 2024

Samsung stocks fall to 4-year low

Shares of South Korean tech behemoth Samsung Electronics sank to an over four-year low of under 51,000 won ($36.24) Wednesday, reflecting the clouds cast over the company's chip leadership in the AI era. Samsung Electronics shares on the Kospi closed trading at 50,600 won on Wednesday, dropping by 2,400 won or 4.53 percent from the previous trading day. Shares of the company started the day at 52,000 won but dropped to as low as 50,500 won, hitting the lowest intraday trading level since Ju

MarketNov. 13, 2024

Seoul shares crash to 1-yr low on Trump policy woes

South Korean shares fell to their lowest level in a year Wednesday, extending their losing streak to a fourth day, as investors' concerns grew over policy uncertainties under the incoming US Trump administration. The local currency also dropped against the US dollar to a two-year low, breaching 1,400 won for the second straight session as of 3:30 p.m. The benchmark Korea Composite Stock Price Index sank 65.49 points, or 2.64 percent, to close at 2,417.08, marking the lowest since Nov. 13, 2

MarketNov. 13, 2024

[KH Explains] Why Yoon golfing is so controversial

When reports surfaced that President Yoon Suk Yeol had played golf at a course in northeastern Seoul on Saturday, opposition politicians saw it as an opportunity to pounce. Playing golf has become close to a taboo for politicians in Korea. The exclusive and expensive nature of the sport here means that it is seen as an elite indulgence, rather than a way to unwind or a pastime for ordinary people. As such, public officials who golf are often accused of being out of touch with the general public

PoliticsNov. 13, 2024

Only half of Koreans believe marriage is essential: study

Just over half of South Koreans believe getting married is essential, a recent government study showed Wednesday, and a growing proportion of people say it's alright for couples simply to live together without tying the knot. According to Statistics Korea's annual study on Korean society, 52.5 percent of Koreans say people should get married, while 41.5 percent say it is a matter of choice and 3.3 percent say they should remain single. The percentage of those who believe people must

Social AffairsNov. 13, 2024

Renault Grand Koleos boasts 30% share in hybrid SUVs

Renault Korea’s latest hybrid sport utility vehicle Grand Koleos has seen smooth driving, claiming more than 30 percent market share in its segment as of October. Having debuted in August, the Grand Koleos E-Tech Hybrid sold 5,385 vehicles last month alone, with cumulative sales reaching 9,330. Driven by the new car's transactions, Renault's total sales more than tripled in Korea in October. Renault's upbeat sales come as Korean drivers have shown a growing appetite for hybr

MobilityNov. 13, 2024

Suneung for all: Opportunity, redemption and the right to dream

On Thursday, more than half a million people across South Korea will converge at test sites to take what many view as a life-defining exam. This is the Suneung -- the nation’s college scholastic ability test. Held just once a year, the nine-hour marathon determines the universities students will be able to attend, and from there, their career opportunities, future earnings and even relationships, as education holds an especially revered place in Korean society. In November each year, South

Social AffairsNov. 13, 2024

Songwriter tied to pro-democracy movement posthumously awarded

Kim Min-ki, a singer-songwriter best known for the once-banned 1971 hit “Morning Dew,” was posthumously given the Woodang Award for promoting national unity and the arts. “His music laid the groundwork that brought the country together. Kim was a humble creator, musician and director, and while leading a theater company, he helped foster singers and actors,” said Lee Jong-chan, president of the Woodang Education and Culture Foundation, at a ceremony Wednesday in Seoul. Th

PeopleNov. 13, 2024

BYD to enter Korean passenger car market early next year

BYD will officially enter the Korean passenger vehicle market early next year, the Chinese electric vehicle maker's Korean office announced Wednesday. The announcement came after months of speculation over when BYD would launch its passenger EVs in the Korean market. BYD Korea already entered the commercial vehicle market in 2016 and has released electric buses and trucks here since then. BYD Korea said it has reviewed the feasibility of a passenger vehicle business in Korea over the past f

MobilityNov. 13, 2024

25 cultural, civic groups blast blacklist creator's SPO appointment

Civic and cultural groups have opposed the recent appointment of Cho Yoon-sun as a nonexecutive director of the Seoul Philharmonic Orchestra, pointing to her involvement in a blacklist of cultural figures. On Wednesday, an alliance of 25 organizations -- including the Screen Actors Guild of Korea, the Association of Korean Independent Film and Video and Writers Association of Korea -- released a statement condemning Seoul Mayor Oh Se-hoon for approving Cho’s appointment and demanding its w

CultureNov. 13, 2024

GS Caltex wins Grand Prize of Mecenat Awards

GS Caltex, a South Korean energy and chemicals company, received the Grand Prize at the 2024 Mecenat Awards for promoting regional culture with its multipurpose cultural and arts space in South Jeolla Province. GS Caltex has been operating GS Caltex Yeulmaru for 12 years. Designed by the architect Dominique Perrault, Yeulmaru has hosted over 1,800 performances, along with 2,300 exhibitions and educational programs, attracting approximately 1.33 million visitors as of mid-2024. Additionally, the

CultureNov. 13, 2024

[Today’s K-pop] BTS tops 1.6b views with ‘DNA’ music video

BTS hit the 1.6 billion mark on YouTube for the third time with the music video for “DNA,” according to label Big Hit Music Wednesday. The video follows those of “Dynamite” and “Boy With Luv (feat. Halsey).” “DNA” fronted the group’s fifth EP “Love Yourself: Her” which was released in 2017. The extended play and the electro-pop tune both entered the Billboard 200 and Hot 100, a first for a K-pop act. The song debuted on the main s

K-popNov. 13, 2024

Hyundai Glovis to build massive logistics center in Busan

Automotive logistics provider Hyundai Glovis is set to build a large-scale logistics complex at Busan New Port, one of the busiest container ports globally. The facility, targeted for completion by 2027, will support South Korea’s growing trade demand, the company said. Hyundai Glovis said Wednesday it had signed a land purchase agreement for nearly 95,000 square meters -- about 13 soccer fields -- in the Ungdong Distripark Phase 2, a newly developed area within Busan New Port specifically

IndustryNov. 13, 2024

Elevator, escalator accidents spike among over-65s

The annual number of accidents involving senior citizens on automated transportation devices including elevators, escalators and moving walkways has been increasing since 2020, a report by the state-run consumer protection agency showed Wednesday. A total of 1,507 such accidents involving the over-65s were registered at the Consumer Injury Surveillance System from 2020 to September of this year, according to the Korea Consumer Agency. The yearly figure for these accidents of the elderly increa

Social AffairsNov. 13, 2024

Kolmar wins trade secret case against Intercos

South Korea’s leading cosmetics original design manufacturer Kolmar Korea said Wednesday it recently won a lawsuit against Intercos Korea, the Korean subsidiary of Italian cosmetic firm Intercos that was accused of transferring trade secrets of Kolmar’s sun care technology. On Oct. 18, the Suwon District Court imposed a 5 million won ($3,700) fine on Intercos Korea for violating the trade secret protection law. The ruling was finalized after the company chose not to appeal. The all

IndustryNov. 13, 2024

Will Samsung team up with foundry rival TSMC?

Samsung Electronics, the tech giant known for its independence as a manufacturer, made a surprise announcement last month hinting it may outsource a key component of its cutting-edge artificial intelligence chips to its Taiwanese rival TSMC. Experts say this comes as the world's largest memory chip maker faces mounting pressure from its global competitors in the increasingly crucial AI chip sector, a headwind that has directly contributed to Samsung's earnings slowdown. “We are c

IndustryNov. 13, 2024

Park Jin-young to hold 30th-anniversary concert ‘Still JYP’ in Tokyo

Celebrating his 30th debut anniversary, Park Jin-young, singer and founder of JYP Entertainment, will be holding two days of concerts titled, “Still JYP,” in Tokyo in February 2025. According to JYP Entertainment, the concerts will be held at Tokyo Dome City Hall Feb. 20-21, 2025. This marks Park’s return to Japan for a solo concert after nearly two years, following his “Groove Back in Japan” concert in January 2023. Prior to his Japan shows, Park will hold three da

K-popNov. 13, 2024