South Korea's trade ministry said Tuesday it is seeking to forge a deeper partnership with Italy in the biotechnology and eco-friendly energy segments to brace for the post-pandemic recovery and seek sustainable economic growth. South Korea and Italy plan to hold their first round of the strategic meetings for bilateral cooperation in industry and energy in Rome on Tuesday (Italy time), according to the Ministry of Trade, Industry and Energy. The meeting comes as South Korea and Italy agreed to

Industry Sept. 28, 2021

An enforcement decree for the new workplace disaster law aimed at better protecting workers from industrial accidents was approved by the Cabinet on Tuesday despite criticisms from both management and labor groups. In January, the National Assembly passed a bill that strengthens the punishment for business owners and CEOs of companies with five or more employees in the event of serious workplace disasters. Under the new law set to take effect in January, business owners and CEOs could face a

Politics Sept. 28, 2021

President Moon Jae-in ordered his national security team Tuesday to comprehensively analyze North Korea's intentions behind its latest missile launch and statements, issued a few days earlier, on inter-Korean relations. He issued the call after receiving a briefing on the outcome of an emergency National Security Council (NSC) session from Suh Hoon, director of national security, according to Cheong Wa Dae spokesperson Park Kyung-mee. Earlier in the day, North Korea test-fired a short-range mi

Politics Sept. 28, 2021

South Korea's daily coronavirus cases remained in the 2,000s for a third day Tuesday as infections spiked outside the greater Seoul area in the aftermath of a mass migration during the Chuseok holiday. The country reported 2,289 new COVID-19 cases, including 2,270 local infections, bringing the total caseload to 305,842, according to the Korea Disease Control and Prevention Agency (KDCA). The daily caseload touched a fresh high of 3,272 on Saturday before slightly falling to 2,771 on Sunday.

Social Affairs Sept. 28, 2021

South Korea's exports are anticipated to rise 15 percent on-year in September on the back of robust demand for chips and automobiles, although the overall growth might slow due to fewer working days in the month, a poll showed Tuesday. Exports are expected to reach Imports are estimated to have gone up 26.5 percent on-year in September to $49.8 billion, resulting in a trade surplus of $5.3 billion. South Korea will release its official trade data Friday. In August, South Korea's exports have ext

Economy Sept. 28, 2021

WASHINGTON -- The United States must permanently stop its joint military exercises with South Korea and the deployment of its strategic weapons to the South if it wishes to promote peace on the Korean Peninsula, North Korea's UN ambassador said Monday. Kim Song, the chief of North Korea's mission to the United Nations, also said a good relationship may be formed between the North and the US if and when Washington gives up its hostility toward his country. "If the US wants to see the Korea

North Korea Sept. 28, 2021

South Korea's exports are anticipated to rise 15 percent on-year in September on the back of robust demand for chips and automobiles, although the overall growth might slow due to fewer working days in the month, a poll showed Tuesday. Exports are expected to reach Imports are estimated to have gone up 26.5 percent on-year in September to $49.8 billion, resulting in a trade surplus of $5.3 billion. South Korea will release its official trade data Friday. In August, South Korea's exports have ext

Economy Sept. 28, 2021

South Korean shipping lines are expected to chalk up record earnings for the third quarter of the year thanks to surging freight rates, a market tracker said Tuesday. HMM Co., South Korea's largest container shipper, is projected to post a consolidated operating income of 1.82 trillion won ($1.54 billion) for the July-September, according to an analysis of brokerage house forecasts. That would break HMM's operating income record of 1.39 trillion won set in the previous quarter, which was up 901

Industry Sept. 28, 2021

South Korea was set Tuesday to launch a new 3,000-ton-class homegrown submarine capable of firing ballistic missiles, the third of its kind designed to boost underwater defense capabilities, the Navy said. A launch ceremony for the new submarine, named after a prominent Korean independence activist, Shin Chae-ho, will take place at the shipyard of Hyundai Heavy Industries Co. in the southeastern city of Ulsan later in the day, according to the military. It is the third and the final of three

Defense Sept. 28, 2021

A majority of South Korean manufacturers expect their business conditions to worsen in the fourth quarter from three months earlier on a coronavirus resurgence and rising material costs, a poll showed Tuesday. A survey of about 2,300 manufacturing firms put the business sentiment index (BSI) at 91 for the October-December period, down 12 points from the third quarter, the Korea Chamber of Commerce and Industry (KCCI) said. A reading below 100 means companies expecting deteriorating business cond

Economy Sept. 28, 2021

K-pop sensation BTS will hold a series of live in-person concerts in Los Angeles in November and December after two years away from such events due to the new coronavirus, the band's label said Tuesday. "BTS PERMISSION TO DANCE ON STAGE - LA" will be held at SoFi Stadium on Nov. 27 and 28 and Dec. 1 and 2, according to Big Hit Music. They will be the septet's first live in-person concerts since 2019, when the group performed in Seoul. "The time is approaching when we can dance

K-pop Sept. 28, 2021

Samsung Electronics Co. remained in second place in the global smartphone image sensor market in the first half of the year, a report showed Tuesday, although its share declined from a year earlier. Samsung captured a 25 percent revenue share in the first six months of the year, down from 28 percent a year ago, according to market researcher Strategy Analytics. Sony dominated the market with a 42 percent revenue share, slightly down from 45 percent a year earlier, while OmniVision came in t

Industry Sept. 28, 2021

WASHINGTON -- The United States is prepared to meet with North Korea without any pre-conditions, a State Department spokesperson said Monday. The US official made the remark when asked if the US will be willing to consider easing sanctions on the impoverished North. "We are prepared to meet with the DPRK without preconditions, and of course, we certainly hope that the DPRK will respond positively to our outreach," said Jalina Porter, principal deputy spokesperson for the State Depart

Foreign Affairs Sept. 28, 2021

South Korean battery maker SK Innovation Co. and American automaker Ford Co. said Tuesday they will invest 13 trillion won ($11 billion) to build three electric vehicle batteries in the United States by 2025. A joint venture between the two companies, called BluOvalSK, will build an assembly and battery complex in Tennessee, and two additional battery factories in Kentucky, which will be the single largest investment in Ford's 118-year history, the two companies said in a statement. The three fa

Industry Sept. 28, 2021

Second Vice Foreign Minister Choi Jong-moon has stressed the importance of a "survivor-oriented" approach to addressing sexual violence in conflict, reiterating South Korea's steadfast commitment to tackling the issue, the foreign ministry said Tuesday. Choi made the remarks during Monday's virtual event, titled "Reparations for Survivors of Conflict-Related Sexual Violence: Status and Prospects," on the sidelines of the UN General Assembly. The Global Survivors Fund, esta

Foreign Affairs Sept. 28, 2021