Park In-bee likes to be challenged on the golf course. The LPGA Hall of Famer has enough confidence in her game to thrive under difficult conditions where lesser golfers may falter. That approach will certainly come in handy this week in Scotland, where the LPGA Tour holds its fifth and final major tournament of 2021 on a historic links course. Carnoustie Golf Links will host the AIG Women's Open starting Thursday. It has held eight Open Championships on the men's side, and this will be the se

Golf Aug. 18, 2021

South Korean stocks opened slightly lower Wednesday, tracking a stock plunge on Wall Street that stemmed from reports on Taliban's earlier-than-expected control of the Afghanistan capital. The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.18 points, or 0.07 percent, to 3,140.91 points in the first 15 minutes of trading. Stocks got off to a choppy start as investors digest the impact of Taliban's seizure of Kabul and the frenzy at the airport. Overnight, the Dow Jones Industrial

Market Aug. 18, 2021

On a historic course in Scotland this week, South Korean LPGA golfers will try to avoid making a wrong kind of history. Long a dominant force in women's golf, South Korea is in danger of being shut out at LPGA major championships for the first time in 11 years. The AIG Women's Open, the fifth and final major of 2021, will tee off at Carnoustie Golf Links in its namesake Scottish town Thursday. The four previous majors were won by four players from four countries. For South Korea, Lee Jeong-eu

Golf Aug. 18, 2021

Sales by major companies in South Korea rose nearly 10 percent in the first half of the year in spite of the coronavirus pandemic with their total operating profit more than doubling, a corporate tracker said Wednesday. Combined sales of 225 out of the country's top 500 firms came to 1,127.4 trillion won ($960 billion) in the January-June period, up 10.4 percent from a year earlier, according to CEO Score. Their operating profit stood at 105.1 trillion won in the six-month period, more than do

Economy Aug. 18, 2021

A South Korean baseball player has been cleared of doping allegations upon further review by the national anti-doping body, the player's club has announced. The Doosan Bears of the Korea Baseball Organization (KBO) said late Tuesday that the Korea Anti-Doping Agency (KADA) informed the league office of its final decision on the player, whose identity was being withheld, at 6 p.m. Tuesday. The KBO in turn delivered the news to the Bears, a team official added. In June, the KADA detected a banne

Baseball Aug. 18, 2021

Fourteen people affiliated with US Forces Korea (USFK), including five American service members, have tested positive for the new coronavirus in the past four days, the US military said Tuesday. The COVID-19 cases were reported from Osan Air Base and USArmy Garrison (USAG) Humphreys in Pyeongtaek, 70 kilometers south of Seoul, USAG Daegu in the southeastern city of the same name, and Camp Casey in Dongducheon, 40 km north of the capital, according to USFK. “All 14 individuals are curre

Defense Aug. 17, 2021

Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Tuesday that it swung to a net loss in the first half from a year ago due to increased costs and allowances. Its net loss came to 1.25 trillion won ($1.1 billion) in the January-June period compared with a net profit of 294 billion won a year ago. Sales fell 45 percent to 2.17 trillion won, with operating loss reaching 1.22 trillion won, shifting from an operating profit of 352 billion won over the cited period. DSME cited a sharp f

Industry Aug. 17, 2021

SK Telecom Co., South Korea's largest wireless carrier, said Tuesday its non-telecom spinoff will be launched in November as SK Square with the aim of aggressive investments in new tech and semiconductor businesses. The mobile carrier is currently preparing to split into two after deciding to spin off its non-telecom businesses in June to focus on new investments. While SK Telecom had tentatively called the new company SKT Investment, the carrier said it finalized the name as SK Square. Under

Industry Aug. 17, 2021

KakaoBank Corp., a major South Korean digital-only bank, said Tuesday its net profit more than doubled in the second quarter from a year earlier, reporting robust earnings after it went public earlier this month. Net profit stood at 69.29 billion won ($58.85 million) in the April-June period, compared with a profit of 26.78 billion won the previous year, according to its regulatory filing. Revenue rose 29.3 percent to 253.62 billion won over the cited period, while operating profit increased 2

Industry Aug. 17, 2021

South Korean stocks retreated for an eighth straight session Tuesday as disappointing Chinese economic data raised concerns about a slowdown in global economic recovery. The Korean Won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) slumped 28.2 points, or 0.89 percent, to close at 3,143.09 points. Trading volume was high at about 680 million shares worth some 21.9 trillion won ($18.6 billion), with losers outnumbering gainers 786 to 117. Foreigners sold a

Market Aug. 17, 2021

Rep. Hong Joon-pyo, a five-term lawmaker of the main opposition People Power Party (PPP), officially announced Tuesday he will run in the presidential election slated for March. Hong, who lost the 2017 election against President Moon Jae-in, held an online press conference announcing his second bid for the presidency, in which he pledged to "correct the nation heading in the wrong direction." The former prosecutor-turned-politician presented a vision in which South Korea wins respect

Politics Aug. 17, 2021

South Korea's industry ministry said Tuesday it has hosted a business roundtable with Kazakhstan and signed around two dozen business agreements, in a move to enhance economic ties with the Central Asian nation. During the meeting, Seoul and Nur-Sultan signed a set of 23 memorandums of understanding in various industries ranging from automobiles to the development of natural resources, according to the Ministry of Trade, Industry and Energy. The move came during Kazakh President Kassym-Jomart

Economy Aug. 17, 2021

South Korea will keep a close eye on how North Korea will respond to a major joint military exercise under way with the United States, the unification ministry said Tuesday, as Pyongyang remains silent in contrast to angry reactions to last week's preliminary exercise. The nine-day computer-simulated Combined Command Post Training, which kicked off Monday, is based largely on a computer simulation with no field training, in consideration of the virus situation, according to South Korea's Joint

North Korea Aug. 17, 2021

The military plans to deploy advanced amphibious bridging vehicles by 2027 to boost operational capabilities, the arms procurement agency said Tuesday. Under a 500 billion-won ($426.5 million) contract, the Defense Acquisition Program Administration (DAPA) and Hanwha Defense will develop and produce the localized version of the European M3 Amphibious Rig for their deployment starting around 2027, according to the agency. The M3 rig was developed by the European manufacturer General Dynamics Eu

Defense Aug. 17, 2021

Seven service members have tested positive for the new coronavirus, the defense ministry said Tuesday, the latest in a series of infections across the country. Five Army members, one Navy officer and one Marine Corps officer were confirmed to have contracted the virus during the three-day holiday that ended Monday, bringing the total caseload among the military population to 1,555, according to the ministry. (Yonhap)

Defense Aug. 17, 2021