JB Financial Group has been honored with the ESG Excellent Company Award by the Korea Institute of Corporate Governance and Sustainability (KCGS) at the Korea Exchange in Yeouido, Seoul, on Friday. “We see this recognition as an opportunity to further strengthen our responsibility and role in taking the lead in sincere and advanced ESG management,” the financial group said in a statement. Since 2011, the KCGS has been evaluating local companies' performance in environment, soc

Market Dec. 5, 2022

South Korea’s trade volume is expected to stand at 6th in the world -- the highest ranking in Korean history, according to the Korea International Trade Association. “This year, Korea’s exports are expected to exceed $600 billion for the second consecutive year -- recording an all-time high -- and global export ranking is expected to rise from 7th last year to 6th. Import ranking also jumped from 9th to 8th, leading Korea’s volume of trade to leap two notches from No. 8

Industry Dec. 5, 2022

A Seoul court on Friday started reviewing a preliminary injunction requested by game publisher Wemade to withdraw the decision from South Korea’s top five crypto exchanges to delist Wemix, a token issued by the game company's blockchain platform. This petition for a preliminary injunction was filed on Monday after the Digital Asset Exchange Alliance (DAXA) comprised of five crypto exchanges -- Bithumb, Upbit, Coinone, Korbit and Gopax -- announced on Nov. 24 they would halt trading

Industry Dec. 2, 2022

Korean cryptocurrency exchange operators have suffered setbacks in earnings in the third quarter, as investors' appetite for virtual assets fizzled following a string of incidents revealing their risks. According to Dart, the Financial Supervisory Service’s electronic disclosure board, the net profit of Dunamu, the operator of Korea’s largest cryptocurrency exchange Upbit, marked 159.98 billion won ($123 million) during the quarter that ended in September. Although this was an i

Industry Dec. 1, 2022

    Representatives of the truckers’ union and government officials failed to reach a compromise again in their second round of talks on Wednesday amid a week-long strike by unionists that inevitably could impact an array of industries. Starting from Nov. 24, Cargo Truckers Solidarity has been staging a walkout mainly to call for a permanent guarantee of minimum freight rates, which is to expire at the end of this year. The minimum freight rate policy was created to prevent truck

Industry Nov. 30, 2022

After gaining momentum from structural changes and the privatization process in recent years, Woori Financial Group has been actively making changes to become the global leader of the future financial market. The most evident change was made recently in November when the group launched a new Data Intelligence department with a goal to pursue development in areas of data and artificial intelligence. At the beginning of this year, the group also announced its goal to increase its combined monthly

Market Nov. 29, 2022

Financial authorities on Monday maintained their position on imposing an income tax on cryptocurrency trading from 2025, delaying the initial plan of levying a 20 percent tax starting next year. According to the Ministry of Economy and Finance, it submitted a bill to lawmakers to push back the new taxation law from 2023 to 2025. Before the end of the year, the bill has to be passed by the National Assembly for the current taxation plan to be postponed. Under the current taxation law, anyone who

Market Nov. 28, 2022

A growing number of YouTubers who create recap videos summarizing mostly movies and dramas are enjoying popularity among viewers who appreciate their convenience. YouTuber Go Mong Tube, who started his channel back in 2016, is a prominent player in the field. His channel, which mainly recaps Korean movies and dramas, has more than 600 videos and over 2.14 million subscribers. One of the most popular videos on his channel is the Indian hero movie “Krrish” that has racked up more than

Culture Nov. 28, 2022

Enjoy playing racing games like Mario Kart or KartRider? At Ganghwa Luge located at Ganghwa Seaside Resort in Incheon, you can enjoy the thrill of a high-speed ride in real life. Some 50 kilometers west of Seoul, Ganghwa Luge located on the foothills of a mountain offers a spectacular view of the horizon on the West Sea. After buying tickets, make sure to pick up a safety helmet before taking the five-minute gondola ride to the starting point. Brief safety instructions are offered for first-time

Culture Nov. 25, 2022

The Night Owl (Korea) Opened Nov. 23 Drama Directed by An Tae-jin Set in the Joseon era (1392-1910), Kyeong-soo (Ryu Jun-yeol) is a day-blind acupuncturist working in the palace. He is unable to see anything during daytime, but, strangely, he can see fine at night. One evening, Kyeong-soo happens to witness the death of Crown Prince Sohyeon. This death leads the prince's father, King Injo (Yoo Hae-jin), to madness. Kyeong-soo, who is used to keeping secrets, considers revealing the truth

Film Nov. 25, 2022

Film director Ma Dae-yoon said he aimed to retell Mark Twain’s “The Prince and the Pauper” in his new comedy film “Switch.” “At the beginning, I thought about making a movie about a protagonist having an epiphany, like ‘A Christmas Carol.’ Then I added ‘The Prince and the Pauper’ element to it,” Ma said in a press conference at Lotte Cinema Konkuk University on Wednesday. Leading actors Kwon Sang-woo, Oh Jung-se and Lee Min-jung

Film Nov. 24, 2022

Korean indie film “Through My Midwinter” features the harsh reality of how a young couple’s relationship can be affected as their economic status changes. “I have done manual labor for nine years. One winter -- around three years ago -- I was breaking a wall with a drill and it caused my teeth to crack. It was a difficult time for me and I had to spend a lot of money at the dentist's office,” director Oh Seong-ho said during a press conference at Lotte Cinema

Film Nov. 24, 2022

The news of the release of South Korean director Hong Sang-soo’s movie “Hotel by the River” on a Chinese streaming service, the first for a Korean film in six years, was met with mixed reactions among those in the local entertainment industry on Tuesday. Since China imposed a blanket ban on Korean entertainment products as part of the economic retaliation campaign following South Korea’s decision to host a US Terminal High Altitude Area Defense battery on its soil in 2016

Culture Nov. 23, 2022

After watching the musical “Hero” 10 years ago, director Yoon Je-kyoon thought that he must turn the story into a movie someday. At the time, instead of feeling proud as a Korean, the director said the story made him feel sorry for all the sacrifices that Ahn and other independence fighters had to make for the country. It took the death of his mother to get Yoon to kicks start the musical movie project. Yoon, who created “Ode to My Father" (2014) inspired by his father&#

Culture Nov. 21, 2022

After proving his competence as both producer and lead actor in the hit movie “The Roundup,” Korean American actor Don Lee -- better known as Ma Dong-seok here -- is returning with “Men of Plastic.” Lee took part in the upcoming comedy movie about how the K-beauty business began in Apgujeong in Seoul, both actor and producer again. Apgujeong, a ward in Gangnam District, is one of South Korea's most affluent districts and home to numerous plastic surgery hospitals a

Culture Nov. 20, 2022