LG Electronics Inc. said Tuesday its Mini LED TVs will hit the shelves this week as the South Korean tech giant eyes to expand its presence in the premium TV market. Starting with North America, LG's QNED Mini LED TVs will be available in major markets, including Europe, South Korea and Japan. Its first Mini LED TV comes in 65-, 75- and 86-inch sizes in 4K and 8K resolutions. In South Korea, four QNED Mini LED TV models will be sold with prices ranging from 5.09 million won ($4,500) to 16.8 mi

Industry June 30, 2021

North Korean leader Kim Jong-un said a "crucial case" has happened that could threaten the safety of his people and country in nationwide anti-epidemic efforts, state media reported Wednesday, spurring speculation that a coronavirus outbreak could have hit parts of the country. Kim made the remarks as he presided over an extended politburo meeting of the ruling Workers' Party on Tuesday, accusing senior officials of neglecting their duties in carrying out measures needed to fight the

North Korea June 30, 2021

South Korea's daily new virus cases spiked to an over two-month high Wednesday as a series of cluster infections were reported in the wider Seoul area amid jitters over growing COVID-19 variant cases. The country reported 794 more COVID-19 cases, including 759 local infections, raising the total caseload to 156,961, the Korea Disease Control and Prevention Agency (KDCA) said. The latest figure was up 199 from the previous day. The country added one more death, raising the death toll to 2,018.

Social Affairs June 30, 2021

Nine American service members, a civilian worker for the US Forces Korea (USFK) and a family member tested positive for the new coronavirus, the US military said Wednesday. Seven service members stationed at Osan Air Base in Pyeongtaek, around 70 kilometers south of Seoul, and two service members stationed at Camp Casey in Dongducheon, north of Seoul, tested positive over the past week, according to USFK. A USFK contractor, who works at the K-16 Air Base in Seongnam, south of Seoul, tested pos

Defense June 30, 2021

South Korea will begin its annual consultation meetings with global rating agency Fitch Ratings this week over the country's economic conditions, Seoul's finance ministry said Wednesday. The government will hold online meetings with the agency from Wednesday to July 8 to discuss the country's economic situations and its growth outlook. Fitch will hold a series of meetings with officials from the finance ministry, the Bank of Korea, the Ministry of Unification and other institutions. Finance M

Economy June 30, 2021

New home permits in South Korea swelled nearly 20 percent in the first five months of the year amid rising housing prices, the government said Wednesday. Construction permits issued for new homes stood at 186,743 units in the January-May period, up 19.9 percent from a year ago, according to the Ministry of Land, Infrastructure and Transport. New construction permits in the South Korean capital of Seoul spiked 39.6 percent to 30,915 over the cited period. New home permits issued in the capital

Economy June 30, 2021

South Korean stocks opened higher Wednesday on US stock gains, following a US drugmaker's announcement that its vaccine turned out effective against the spreading virus variant. The benchmark Korea Composite Stock Price Index (Kospi) rose 11.25 points, or 0.34 percent, to trade at 3,297.93 points as of 9:15 a.m. The Kospi got off to a bullish start, taking a cue from Moderna's announcement that its COVID-19 vaccine produced protective antibodies against the highly contagious delta variant. Ov

Market June 30, 2021

WASHINGTON -- The United States fully respects South Korea's decision to skip a multinational naval exercise, a Pentagon spokesman said Tuesday, also adding Seoul's decision does not affect the South Korea-US alliance in any way. "It's a sovereign decision by a nation state. And they're certainly entitled to make that decision and to speak to that decision and we absolutely respect it," the spokesman, John Kirby, said in a press briefing. South Korea earlier said it had been invited

Foreign Affairs June 30, 2021

South Korea's top economic policymaker said Wednesday excessive demand for home buying could ease amid the central bank's move toward monetary tightening and stricter regulations on household lending. Finance Minister Hong Nam-ki warned that housing prices could fall if a severe external economic shock occurs at a time when households have maintained high levels of leverage. "An inflow of liquidity into the housing market could slow down as the country is set to implement measures to slow

Economy June 30, 2021

Global tech titan Samsung Electronics Co. has ranked first in the number of patents filed in South Korea over the past five years, data showed Wednesday. Samsung registered 19,588 patents with local authorities between 2016 and June 10 this year, the most among local companies, according to the data from corporate tracker CEO Score. The number accounts for 13.8 percent of a combined 141,752 patents filed by 345 companies out of the country's top 500 firms by sales over the cited period. Samsu

Economy June 30, 2021

South Korea's industrial output bounced back in May, but retail sales fell by the most in 10 months in the latest sign that the recovery of private spending still remains weak amid the pandemic, data showed Wednesday. The industrial output inched up 0.1 percent in May from the previous month, rebounding from a 1.2 percent on-month contraction in April, according to the data compiled by Statistics Korea. From a year earlier, it rose 7.3 percent. The rebound came as production in the public adm

Economy June 30, 2021

It took him two days, but South Korea's Kwon Soon-woo finally has his first victory in the men's singles at Wimbledon. The 71st-ranked Kwon defeated Daniel Masur of Germany 3-1 (6-7 (2-7), 6-3, 6-4, 6-4) in the opening round match of the Grand Slam tournament in London on Tuesday (local time). Their match began Monday after more than three hours of rain delay and was suspended due to darkness after Masur took the first set in 51 minutes. When the match resumed the following day, Kwon quickly

More Sports June 30, 2021

Samsung Electronics Vice Chairman Lee Jae-yong will face a formal court trial on charges of illegally taking propofol injections, according to sources Tuesday. The Seoul Central District Court has decided to hold a trial on the issue, at the request of the state prosecution service, they added. Early this month, prosecutors indicted the de facto leader of Samsung Group, now in jail for bribery and corruption, on a "summary offense" in connection with his alleged use of propofol, whi

Social Affairs June 29, 2021

Outgoing US Forces Korea (USFK) Commander Gen. Robert Abrams on Tuesday vowed to continue supporting the "ironclad" alliance between South Korea and the United States, describing his time here as a "personal honor and privilege." Abrams made the remarks during an honor guard ceremony hosted by the Joint Chiefs of Staff Chairman Gen. Won In-choul ahead of USFK's change of command slated for Friday, according to the military. Expressing gratitude to "28,500 men and wome

Defense June 29, 2021

South Korean stocks retreated for the second straight session Tuesday as concerns of new coronavirus variants weakened investors' appetite for risky assets. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 15.21 points, or 0.46 percent, to close at 3,286.68 points. Trading volume was moderate at about 1.2 billion shares worth some 14.2 trillion won (US$12.6 billion), with losers outnumbering gainers 549 to 303. Foreigners sold a net 550 b

Market June 29, 2021