The United States is not aware of North Korea's possible participation in the upcoming UN climate change conference, a state department spokesperson said Tuesday. Ned Price said the US accordingly had no immediate plans to engage with North Korea at the climate conference, known as the Conference of the Parties (COP), set to be held in Glasgow, Britain. "I am not aware. First of all, I would have to refer you to Pyongyang to speak to any plans they may have to participate in Glasgow next

Foreign Affairs Oct. 27, 2021

Samsung SDS Co. on Wednesday reported its third-quarter net profit of 199.4 billion won ($170.8 million), up 23.9 percent from a year earlier. The company said in a regulatory filing that it posted 222 billion won in operating profit for the quarter, compared with 219.8 billion won a year ago. Sales rose 13.9 percent to 3.38 trillion won. The operating profit was 3.8 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agenc

Industry Oct. 27, 2021

The United States and South Korea are aligned on the need to engage with North Korea diplomatically, but may differ when it comes to when and what steps should be taken to bring the recalcitrant North back to the dialogue table, US National Security Adviser Jake Sullivan said Tuesday. His remarks come amid a South Korean push for a declaration of the end of the Korean War that it insists can be a catalyst to restart dialogue with North Korea. "We may have somewhat different perspectives o

Foreign Affairs Oct. 27, 2021

South Korea's corporate direct financing edged up in September from the previous month due to a surge in bond sales, data showed Wednesday. Local companies raised a combined 19.6 trillion won ($16.8 billion) by selling stocks and bonds in September, up 1.4 percent from a month ago, according to the data from the Financial Supervisory Service (FSS). Corporate bond sales swelled 18.2 percent on-month to 17.6 trillion won in September. In contrast, local firms' stock sales tumbled 54.5 percent

Economy Oct. 27, 2021

South Korea's consumer sentiment rose to the highest level in four months in October as an accelerated pace of COVID-19 vaccination raised hope for a return to normal life, central bank data showed Wednesday. The composite consumer sentiment index (CCSI) came in at 106.8 in October, up 3 points from the previous month, according to the data from the Bank of Korea. The reading is the highest since the index rose to 110.3 in June. A reading above 100 means optimists outnumber pessimists. The g

Economy Oct. 27, 2021

President Moon Jae-in's security adviser said Tuesday it is difficult to predict whether another summit between Moon and North Korean leader Kim Jong-un can take place, citing "many uncertainties." Suh Hoon, director of the National Security Office at the presidential office Cheong Wa Dae, made the remarks during a parliamentary audit, amid speculation Moon is pushing for another inter-Korean summit to help salvage his drive for lasting peace on the Korean Peninsula. "We have ju

Defense Oct. 26, 2021

Samsung Electronics Co. will quickly decide on a foundry investment in the United States, a senior executive said Tuesday, as the South Korean tech giant seeks to become the world's No. 1 player in the logic chip and foundry sectors. Samsung Electronics, the world's No. 2 foundry firm behind Taiwan's TSMC, announced in May that it will build a $17 billion fab in the US Samsung's de facto leader Lee Jae-yong is widely speculated to visit the US, possibly next month, to finalize the site, with t

Industry Oct. 26, 2021

Loan guarantees among affiliates of South Korea's conglomerates soared this year from a year earlier due to the addition of more large business groups to the corporate watch list, the antitrust regulator said Tuesday. Of 40 conglomerate affiliates on the list, the total corporate debt payment guarantees by eight units reached 1.16 trillion won ($993 million) as of May 1, up 1,242 percent from 86.4 billion won the previous year, according to the Korea Fair Trade Commission (KFTC). The jump was

Economy Oct. 26, 2021

Despite a complicated assessment of his political career, the late former President Roh Tae-woo is widely credited for opening a new chapter in South Korea's diplomatic ties with communist nations under his signature Nordpolitik and laying the groundwork for promoting inter-Korean relations. Roh, who died at the age of 88 Tuesday, was the country's first president to establish diplomatic relations with the traditional allies of North Korea in the late 1980s and early 1990s, including the Sovie

Politics Oct. 26, 2021

The main opposition People Power Party (PPP) expressed condolences over the death of former President Roh Tae-woo but also promised not to repeat the faults of his political legacy. Roh, who served as president from 1988-93, died Tuesday at 88 after failing to recover from health problems. The former general who succeeded Chun Doo-hwan as president has been credited for building ties with socialist states, including the establishment of diplomatic relations with the Soviet Union in 1990 and C

Politics Oct. 26, 2021

South Korean stocks advanced for a second consecutive day Tuesday, backed by expectations for strong corporate earnings. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) advanced 28.54 points, or 0.94 percent, to close at 3,049.08 points. Trading volume was moderate at about 547 million shares worth some 9.2 trillion won ($7.9 billion), with gainers outnumbering losers 574 to 271. Foreigners bought a net 106 billion won, while retail investors

Market Oct. 26, 2021

South Korea's trade volume for this year surpassed the $1 trillion mark Tuesday on the back of solid export growth amid the global recovery from the pandemic, reaching the milestone at the fastest pace ever, the trade ministry said. The country's accumulated exports and imports totaled $1 trillion so far this year, with outbound shipments coming to $512.2 billion, according to the data by the Ministry of Trade, Industry and Energy. South Korea made the achievement within the shortest period of

Economy Oct. 26, 2021

South Korea's military said Tuesday it will open its first hydrogen charging station this week, helping accelerate the country's drive to promote the use of renewable energy sources. The government has been proactive in efforts to boost the hydrogen economy under the goal of going carbon neutral by 2050. The charging station will open in Daejeon, 164 kilometers south of Seoul, on Wednesday, also for use by civilians, according to the defense ministry. It has the capacity to power 60 sedans and

Defense Oct. 26, 2021

A record-breaking ace is putting together a solid case for the most valuable player (MVP) award in South Korean baseball this year, with a handful of other contenders looking to make a last-minute push in the final stretch of the regular season. Doosan Bears' left-hander Ariel Miranda strengthened his candidacy on Sunday by becoming the new single-season strikeout king in the Korea Baseball Organization (KBO). The Cuban ace picked up four strikeouts against the LG Twins to reach 225 for the sea

Baseball Oct. 26, 2021

Former President Roh Tae-woo, who accepted popular calls for a direct presidential election system at the start of South Korea's democratization and sought to broaden diplomatic ties with socialist nations while in office, died Tuesday, his aides said. He was 88. Roh, who served as president from 1988-93, was recently admitted to a hospital after his health deteriorated but failed to recover, they said. Roh, a former general, succeeded former President Chun Doo-hwan after helping the latter se

Politics Oct. 26, 2021