Lee Jae-myung, the presidential nominee of the ruling Democratic Party (DP), is trailing both leading opposition contenders in hypothetical two-way matchups, a survey showed Thursday. Lee earned 38.9 percent against 44.4 percent for Rep. Hong Joon-pyo of the main opposition People Power Party (PPP), according to the survey of 2,035 adults conducted Monday and Tuesday by Realmeter. In a matchup with PPP contender Yoon Seok-youl, Lee garnered 40.9 percent against Yoon's 45.3 percent. The differ

Politics Oct. 28, 2021

Health authorities struggling to contain COVID-19 are on high alert ahead of this Halloween weekend, as Seoul's downtown areas are expected to be crowded with larger-than-usual numbers of people celebrating the annual Western holiday. Coronavirus-battered retailers in Seoul's popular entertainment districts, such as Itaewon and Hongdae, are looking forward to boom sales of Halloween-themed products, food, drinks and various other consumer goods, particularly because of the government's recent d

Social Affairs Oct. 28, 2021

Lee Jae-myung, the presidential nominee of the ruling Democratic Party (DP), has come under fire after saying he may consider adopting a cap on the number of restaurants in the country to curb excessive competition. Lee made the remarks Wednesday during his campaigning at a traditional market in Seoul where he listened to self-employed people suffering from the pandemic. He said the competition in the restaurant business is like "an ant lion pit," and that he has an idea of running a

Politics Oct. 28, 2021

South Korea's Defense Minister Suh Wook held talks with the visiting US secretary of the Navy in Seoul on Thursday to discuss security on the Korean Peninsula, the bilateral alliance and other issues, his ministry said. The talks between Suh and Secretary Carlos Del Toro came as Seoul and Washington seek to ensure their defense readiness, following a recent series of North Korean missile launches, and advance joint efforts to resume dialogue with Pyongyang. During the meeting, Del Toro express

Defense Oct. 28, 2021

Hyundai Steel Co., South Korea's No. 2 steelmaker, said on Thursday it swung to the black in the third quarter from a year earlier on the back of solid demand for key products and price hikes in line with the economic recovery from the pandemic. Net profit reached 596 billion won ($509 million) on a consolidated basis in the third quarter of the year, turning from a net loss of 44.7 billion won a year earlier, the company said in a regulatory filing. Operating income for the July-September per

Industry Oct. 28, 2021

South Korea and the United States may have "somewhat different perspectives" on the issue of declaring a formal end to the Korean War, but the perspectives should not be seen as a "difference of views," a senior Cheong Wa Dae official said Thursday. Park Soo-hyun, senior Cheong Wa Dae secretary for public communication, made the remark in response to speculation that Washington is reluctant to support President Moon Jae-in's vision for an end-of-war declaration that would ju

Politics Oct. 28, 2021

The head of the World Food Programme (WFP) on Thursday called for international cooperation to improve North Korea's food situation, raising concerns over a "growing threat" from extreme weather caused by climate change. WFP Executive Director David Beasley made the remarks in a video keynote speech at a seminar in the northeastern county of Yanggu, referring to a series of droughts and floods that impacted North Korea's crop yields last year. "We stand ready to respond to these

North Korea Oct. 28, 2021

The top Chinese envoy here expressed condolences Thursday over the death of former South Korean President Roh Tae-woo, who formally established diplomatic ties between the two nations during his presidency. Ambassador Xing Haiming said Roh is "an old friend" of China who changed the regional security dynamic by establishing relations with China in 1992 and deciding to sever South Korea's ties with Taiwan. "(We) won't forget that (Roh) made a big decision to forge diplomatic rela

Politics Oct. 28, 2021

South Korea's terms of trade fell for the sixth consecutive month in September due to a rise in prices of imported goods, central bank data showed Thursday. The nation's net terms-of-trade index for goods -- a gauge of overall trade terms -- declined 4.5 percent last month from a year earlier, according to preliminary data from the Bank of Korea (BOK). The figure is calculated by dividing the index for export prices by that for import prices. It shows the amount of imports a country can buy fo

Economy Oct. 28, 2021

South Korea's dominant internet portal operator Naver Corp. on Thursday introduced a new personalized search service dubbed AiR Search. The service, powered by Naver's artificial intelligence (AI) technology, will provide results in block units that reflect current trends and individual interests. "AiR Search will be the beginning of a big change representing Naver's new search, as much as the 'integrated search' which has so far been the most differentiated feature," Kim Sang-Bum, d

Technology Oct. 28, 2021

Retail sales in South Korea surged 8.2 percent in September from a year earlier, data showed Thursday, as consumers turned to "revenge shopping" amid the prolonged virus pandemic. The combined sales of 25 major offline and online retailers reached 13.2 trillion won ($11.26 billion) last month, compared with 11.9 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. Sales from offline stores rose 3.3 percent on-year in September, wi

Economy Oct. 28, 2021

SK Innovation Co., a South Korean battery maker, said Thursday it will develop and produce all-solid-state batteries with a US firm, in a bid to expand its foothold in the next-generation battery market. Under the joint venture deal with Solid Power, a Colorado-based solid-state battery developer, SK Innovation will invest $30 million to acquire a stake in the American company and work with the startup to produce all-solid-state batteries with a target energy density of 930 watt hours per liter

Industry Oct. 28, 2021

North Korea rebuked the United States and other western nations Thursday for having double standards on human rights and racism, taking issue with their absence from a recent symbolic UN meeting. In a note posted on the foreign ministry's website, North Korea criticized the US, Britain and others for not taking part in a high-level meeting at the UN General Assembly last month to commemorate the 20th anniversary of the Durban Declaration and Programme of Action that calls for racial justice.

North Korea Oct. 28, 2021

South Korea's antitrust chief has vowed to intensify a probe into unfair business practices in the travel sector amid a looming recovery in travel demand as the country prepares to return to normalcy. South Korea plans to ease long-enforced restrictions on gatherings and business operations with its shift to the "living with COVID-19" scheme on Nov. 1 meant to gradually restore daily life back to the pre-pandemic days. The move could stimulate pent-up demand for travel, spawning conc

Economy Oct. 28, 2021

Major South Korean insurer Hanwha Life Insurance Co. said Thursday its third-quarter net profit rose more than 1.5 times from a year earlier despite the coronavirus pandemic. Consolidated net income came to 378.9 billion won ($323.1 million) in the July-September period, up 154.5 percent from a year earlier, the company said in a regulatory filing. Operating income climbed nearly 21 percent on-year to 250.3 billion won, with sales soaring 33 percent to 7.51 trillion won. Hanwha Life Insurance

Industry Oct. 28, 2021