South Korea and Israel said Monday they plan to speed up joint research and development projects to cope with the changing business environment amid the COVID-19 pandemic. The announcement came after the two countries announced earlier this year that they will increase contributions to the Korea-Israel Industrial R&D Foundation. The foundation kicked off in 2001 to promote bilateral technology exchanges. In May, South Korea and Israel vowed to each disburse $4 million annually for the foun

Technology July 5, 2021

On South Korea's 22-man Olympic football roster headed to Tokyo this month, Kwon Chang-hoon is the only player with prior Summer Games experience. And it wasn't a particularly memorable one, as South Korea got knocked out of the quarterfinals at the 2016 Rio de Janeiro Olympics. Kwon did more than his part, notching three goals and one assist in four matches, but it wasn't enough to send South Korea deeper into the tournament. Now 27, Kwon is back in the Olympic mix, this time as one of three

Soccer July 5, 2021

All knockout matches at Asia's top club football tournament this year will be played over one leg in centralized venues, the sport's continental governing body announced Monday, citing the need to minimize traveling during the COVID-19 pandemic. The Asian Football Confederation (AFC) said it has rescheduled knockout matches at its signature club tournament, AFC Champions League, from the home-and-away format to single-leg ties. The round of 16 matches were already set to be one-and-done affair

Soccer July 5, 2021

Having been paired with four Middle Eastern nations in the final World Cup qualifying round, South Korea will likely have to deal with some frustrating time-wasting antics. In Group A of the final Asian qualification stage for the 2022 FIFA World Cup, South Korea will take on Iran, Iraq, the United Arab Emirates (UAE), Syria and Lebanon. Those countries are particularly famous for resorting to moves to kill the clock if they have a lead, including feigning injuries and taking their time before

Soccer July 5, 2021

New Air Force Chief of Staff Gen. Park In-ho met Monday with the bereaved family of a late noncommissioned officer who took her own life after suffering from sexual abuse, and promised to reform the barracks culture to prevent similar incidents from recurring. Park took office on Friday to succeed Lee Seong-yong, who stepped down last month to take responsibility over the death of the master sergeant, surnamed Lee. Lee was found dead in an apparent suicide on May 22, three months after she was

Defense July 5, 2021

All South Koreans remaining in Afghanistan must leave the country by no later than July or face criminal punishment, a foreign ministry official said Monday, as unrest grew in Afghanistan amid the ongoing withdrawal of US and its allies' forces. Afghanistan is currently banned for travel, along with five other foreign countries, including Iraq, Syria and Somalia. A violation of the travel ban is punishable by up to one-year in prison or a 10 million-won fine ($8,837) under Korean law. A "

Foreign Affairs July 5, 2021

President Moon Jae-in warned Monday again that the government will take stern measures against the violation of social distancing rules. He made clear that illegal massive rallies cannot be an exception, apparently referring to collective action by the members of the Korean Confederation of Trade Unions (KCTU), a major umbrella labor union, last weekend. "(The government) can't help taking stern legal steps against collective actions, including illegal large-scale rallies, that violate so

Politics July 5, 2021

South Korean stocks rebounded Monday after a two-day slump, largely on speculations of solid corporate earnings in the second quarter. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 11.43 points, or 0.35 percent, to close at 3,293.21 points. Trading volume was moderate at about 839 million shares worth around 14.3 trillion won ($12.6 billion), with losers outnumbering gainers 460 to 372. Foreigners bought a net 1 billion won, while ret

Market July 5, 2021

Prices of apartments set aside for public servants in the administrative capital of Sejong rose fivefold in the past four years, a civic group said Monday. The Citizens' Coalition for Economic Justice announced the results of its study that has tracked the prices of apartment units owned by 25,852 public servants in 127 complexes in the city, around 160 kilometers south of Seoul, since President Moon Jae-in took office in May 2017 until May this year. The results showed that the average price

Social Affairs July 5, 2021

Southern South Korean regions will be hit with heavy rains early this week, while light rain is forecast for the greater Seoul area, the state weather agency said Monday. The Korea Meteorological Administration (KMA) said that up to 150 millimeters of rain are expected for the southern provinces of Jeolla and Gyeongsang between late Monday and early Tuesday. In particular, some southern areas, including southern North Jeolla Province, coastal areas of South Jeolla and South Gyeongsang province

Social Affairs July 5, 2021

South Korea remains committed to developing homegrown COVID-19 vaccines, the country's science minister said Monday, although local pharmaceutical companies face difficulties in conducting advanced stages of clinical trials. Lim Hye-sook, the minister of science and ICT, said her ministry will continue to support companies in research and development to help them speed up the development of their COVID-19 vaccine candidates and treatments. The country will also open the Korea Virus Research In

Social Affairs July 5, 2021

DAEJEON  -- Special limited medals produced to celebrate the distinguished career of Tottenham Hotspur's South Korean star Son Heung-min went on sale Monday, according to the state-run minting agency. Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO) said the medals themed on the 28-year-old striker for Tottenham Hotspur in two designs -- coin and paper money -- are available for purchase on the company's website. KOMSCO said it produced 7,700 units, in reference to S

Soccer July 5, 2021

Rival parties agreed Monday to advance the latest COVID-19 response extra budget bill through the National Assembly by late July. The agreement was made during a meeting earlier in the day between Rep. Han Byung-do and Rep. Choo Kyung-ho, deputy floor leaders of the ruling Democratic Party and the main opposition People Power Party, respectively. Under the agreement, the parties will work toward approving the supplementary budget bill in a plenary parliamentary meeting by July 23 and host a re

Politics July 5, 2021

Hyundai Motor Co. said Monday it will begin the sale of the Staria minivan in Thailand this week as it strives to increase its presence in Southeast Asian markets. Hyundai also plans to begin introducing the Staria minivan in Vietnam, Malaysia and Indonesia in the third quarter, a company spokesman said. Last year, Hyundai sold about 4,000 vehicles in Thailand and most of the vehicles were the Starex minivan. The Starex minivan is no longer in production. The maker of the Sonata sedan and t

Mobility July 5, 2021

South Korea's oceans ministry said Monday it will revamp safety measures at local seaports in line with efforts to improve the working environment and prevent accidents. The move came as the number of accidents at local ports has been rising recently in sync with economic growth and rising trade volumes, according to the Ministry of Oceans and Fisheries. Over the past decade, around 2,800 workers were involved in accidents at local seaports, with the number of fatalities reaching 53 over the p

Industry July 5, 2021