Samsung Electronics Co. said Friday it has expanded support for blockchain users trading virtual assets on its Galaxy smartphones amid rising interest in cryptocurrencies. The South Korean tech said its latest update will allow users to easily manage their transactions by importing their virtual assets stored on select cold hardware wallets to the Samsung Blockchain Wallet available on most Galaxy smartphones. "Support for hardware wallets provides Galaxy blockchain with a consistent user

Technology May 14, 2021

Director Lee Joon-ik of the historical drama "Book of Fish" and comedian Yoo Jae-suk have won the grand prize in the film and TV categories, respectively, at this year's Baeksang Arts Awards. Lee, known as a master of period films in South Korea for his previous hits like "King and the Clown" (2005) and "The Throne" (2015), took the top prize for films at the prestigious entertainment awards show held at KINTEX exhibition hall on Thursday in Goyang, just northwest

Film May 14, 2021

South Korean stocks opened higher Friday after the US index rebounded from a three-day plunge that stemmed from concerns about early post-pandemic inflation. The benchmark Korea Composite Stock Price Index (Kospi) rose 21 points, or 0.67 percent, to reach 3,143.11 points in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite advanced 0.72 percent, with the Dow Industrial Average and the S&P 500 up 1.29 percent and 1.22 percent, respectively. In Seoul, market bellwe

Market May 14, 2021

Prime Minister Kim Boo-kyum said Friday that he will work toward pursuing national unity in the face of the ongoing COVID-19 crisis, as he began his official term as the administration's third prime minister. "I will become a prime minister who thoroughly aims for national unity," Kim said while arriving at the government complex in Seoul on his first day as prime minister. "The current struggle can be overcome only if we work together," Kim added, referring to the ongoing

Politics May 14, 2021

The South Korean government's dividend income from its stakes in public companies inched up 2.8 percent this year from the previous year as earnings of some state-run firms improved despite the pandemic, the finance ministry said Friday. Dividend payments by 22 state-run companies to the government amounted to 1.44 trillion won ($1 billion) this year, up 35.6 billion won from a year earlier, according to the Ministry of Economy and Finance. The gain in dividend income came as the Korea Electri

Economy May 14, 2021

Hyundai Motor Group said Friday it will invest 8.1 trillion won ($7.4 billion) in the United States by 2025 to produce electric vehicles, improve production facilities and increase its presence in the smart mobility solutions area. Hyundai Motor Co., the flagship of the country's top automaking group, plans to produce EVs in its Alabama plant starting next year and its affiliate Kia Corp. also has a plan to roll out EVs in its Georgia plant, Hyundai Motor America said in a statement. Hyundai a

Industry May 14, 2021

Hybe, the K-pop powerhouse behind BTS, Seventeen and Enhypen, has opened what it calls a "music museum" for its artists and fans at its new headquarters in central Seoul. The 4,700-square meter venue spread across two basement floors at Hybe Yongsan features giant screens that show a rotating selection of videos of its artists as well souvenirs from music production and miscellaneous objects that helped create the K-pop powerhouse. A preview of Hybe Insight on Wednesday began with an

Performance May 14, 2021

Foreign investors turned to net buyers of South Korean stocks last month, ending their four-month selling spree, data showed Friday. Foreigners bought a net 672 billion won ($594 million) worth of local stocks in April, according to the data from the Financial Supervisory Service (FSS). Investors from Saudi Arabia purchased a net 56.8 billion won of stocks last month, while investors from the Cayman Islands sold a net 58.2 billion won of stocks, according to the FSS. As of end-April, local st

Market May 14, 2021

South Korea's export prices gained in April, marking the fifth straight monthly gain amid a strong recovery in exports, central bank data showed Friday. The country's export price index, in terms of the local currency, rose 2.2 percent in April from the previous month, according to the preliminary data from the Bank of Korea (BOK). The reading marked the fifth consecutive month of an on-month rise. In March, the index rose 3.3 percent on-month. From a year earlier, the index jumped 10.6 perce

Economy May 14, 2021

WASHINGTON -- US Secretary of State Antony Blinken reaffirmed his country's commitment to UN Security Council resolutions on North Korea on Thursday, amid US outreach for engagement with the reclusive North. The top US diplomat said he and his Australian counterpart, Marise Payne, discussed a range of challenges, including North Korea, in their bilateral meeting in Washington. "The (Australian) foreign minister and I touched on a number of key challenges that we face together," he sa

Foreign Affairs May 14, 2021

The South Korean government on Thursday expressed concerns over escalating violence and civilian deaths amid military conflict between Israel and the Palestinians. "We express grave concern over massive civilian casualties, including children, caused by indiscriminate rocket attacks in the Gaza Strip and counterattacks against them," the foreign ministry said in a statement. "We call on the both sides to refrain from raising tensions and stop using armed forces, as violence can

Foreign Affairs May 13, 2021

South Korea brought in another 835,000 doses of AstraZeneca's COVID-19 vaccines, enough for 417,500 people on Thursday amid concerns over a tight vaccine supply. The vaccines developed by the British-Swedish pharmaceutical giant and Oxford University are shipped in under the World Health Organization's global vaccine COVAX Facility project. So far, AstraZeneca vaccines, under COVAX, for 1.26 million people have already been brought in, with another shipment of the products for 835,000 people s

Social Affairs May 13, 2021

The National Assembly dominated by the ruling Democratic Party (DP) on Thursday gave its nod to President Moon Jae-in's pick for prime minister. Parliament passed the confirmation bill on Prime Minister nominee Kim Boo-kyum, clearing the way for Moon to appoint the ex-interior minister as his third prime minister. The bill was approved in a 168-5 vote, with one abstention and two votes invalidated. The DP commands 174 of the 300 parliamentary seats. The confirmation bill ran into resistance

Politics May 13, 2021

South Korea and the United States held talks Thursday to discuss ways to strengthen cooperation with Southeast Asian countries based on Seoul's New Southern Policy and Washington's Indo-Pacific strategy, the foreign ministry said. During the video talks, the two sides discussed how they can work with the 10-nation Association of Southeast Asian Nations (ASEAN) for substantive cooperation in seven areas, including health, infrastructure, smart city, green growth and digital innovation, the minis

Foreign Affairs May 13, 2021

South Korea's tax agency said Thursday it has launched another round of probe into suspected tax evasion by hundreds of people who sought to take profit from speculative or illegal property transactions. The National Tax Service (NTS) said it has cracked down on 289 individuals and entities over alleged tax evasion. It marked the second time that the agency has carried out investigations into property-related tax evasion this year since April. The NTS said it has expanded the scope of the pro

Economy May 13, 2021