South Korea's top Olympic official is holding on to hope that North Korea will change its mind and participate in the Tokyo Summer Games after all -- however slim those chances may be. Lee Kee-heung, head of the Korean Sport & Olympic Committee (KSOC) and a member of the International Olympic Committee (IOC), said in a recent interview that North Korea's status for Tokyo 2020 will remain up in the air until July 5. That's the deadline for countries to submit their Olympic entries. "My

North Korea June 21, 2021

LG Electronics Inc. and Canadian auto parts maker Magna International Inc. are in the final phase of launching their electric vehicle (EV) powertrain joint venture next month, industry insiders here said Monday, as they review board member appointment plans for the new company. The South Korean tech giant is scheduled to spin off its green business in its vehicle solutions unit on July 1 to set up LG Magna e-Powertrain Co. Magna will then acquire a 49 percent stake in the new firm for $453 mil

Industry June 21, 2021

The 32nd edition of the Summer Olympics had to be postponed by one year due to the coronavirus pandemic, and the July 23-Aug. 8 event will be the first Olympics to take place in an odd-numbered year. The countdown will reach 30 days Wednesday. Against this backdrop, South Korean athletes, vaccinated and itching to compete after a one-year delay, will try to extend the country's successful run at the Summer Olympics. South Korea has ranked inside the top 10 in medal races at each of the past fo

Olympic Games June 21, 2021

After overcoming some early trouble, Ryu Hyun-jin of the Toronto Blue Jays finally got his first win of June. The South Korean left-hander held the Baltimore Orioles to a run on three hits in seven innings at Oriole Park at Camden Yards in Baltimore on Sunday (local time) in a 7-4 victory. Ryu struck out four and walked one as the Jays took the rubber match of a three-game series. Ryu, who matched his season high with seven innings pitched, improved to 6-4 and lowered his ERA from 3.43 to 3.25

Baseball June 21, 2021

More than 4 out of 10 South Korean companies plan to employ interns during the second half of the year mainly for the purpose of covering manpower shortages, a poll showed Monday. According to the survey of 416 companies, taken by recruiting platform Saramin, 44 percent of the respondents said they have plans to hire interns in the July-December period. The figure is higher than the percentage of intern-hiring firms a year earlier. About 33 percent of local firms employed interns during the sa

Economy June 21, 2021

South Korean stocks opened lower Monday despite strong export data as the US Federal Reserve's hawkish pivot last week increased market worries about an early tapering of its accommodative policies. The benchmark Korea Composite Stock Price Index (KOSPI) fell 18.23 points, or 0.56 percent, to trade at 3,249.7 points in the first 15 minutes of trading. Stocks got off to a weak start in the wake of the Fed's ongoing discussions about expediting its rate hike timeline. Federal Reserve Chairman

Market June 21, 2021

The United States has offered to meet with North Korea "anywhere, anytime without preconditions" and looks forward to a positive response from Pyongyang, the new US special envoy for the North said Monday. Ambassador Sung Kim made the remarks during trilateral talks with his South Korean and Japanese counterparts, Noh Kyu-duk and Takehiro Funakoshi, in Seoul, where they discussed North Korean leader Kim Jong-un's recent remarks that his country should be ready for both dialogue and co

Foreign Affairs June 21, 2021

South Korea's exports rose 29.5 percent on-year in the first 20 days of June on the back of robust demand for chips, autos and petroleum products, customs data showed Monday. The country's outbound shipments stood at $32.4 billion in the June 1-20 period, compared with $25 billion a year earlier, according to the data from the Korea Customs Service. Imports increased 29.1 percent on-year to $32.1 billion, resulting in a trade surplus of $291 million during the cited period, the data showed. B

Economy June 21, 2021

North Korea has replaced the president of Kim Il-sung University, who doubles as minister of higher education, a state broadcaster reported Sunday. An official named Kim Sung-chan was appointed to the post last week during a plenary meeting of the Central Committee of the Workers' Party, according to Korean Central Television. The move represents the dismissal and appointment of senior officials of the state organ, it added. Just five months earlier, North Korea picked Ri Guk-chol as the pres

North Korea June 21, 2021

Nearly 8 out of 10 South Korean consumers have increased their online shopping during the coronavirus pandemic, a poll showed Monday. The survey of 1,000 local consumers, taken by the Korea Chamber of Commerce and Industry, showed 78.4 percent of the respondents saying their online purchases have risen since the outbreak of COVID-19. About 71 percent of them said they have purchased more foodstuffs and beverages online, followed by dining out and other food services (30.9 percent), kitchen and

Economy June 21, 2021

President Moon Jae-in congratulated UN Secretary-General Antonio Guterres on his reelection in a tweet Sunday, vowing to work with him to foster lasting peace on the Korean Peninsula and tackle global challenges. Guterres' reelection for a second five-year term was confirmed late last week, as the United Nations seeks to strengthen international cooperation in addressing a slew of challenges, including climate change and the COVID-19 pandemic. "My heartfelt congratulations on your reelect

Politics June 20, 2021

A Central American development bank has decided to open a South Korean office in Seoul as part of efforts to strengthen ties with Asia's fourth-largest economy, the finance ministry said Sunday. The Central American Bank for Economic Integration (CABEI) has notified the Korean government and the Seoul municipality that its Seoul office will be set up in the capital's financial district of Yeouido, according to government officials. The bank has the goal of opening the office within this year.

Economy June 20, 2021

South Korea's agricultural ministry said Sunday the country has been elected to the Food and Agriculture Organization (FAO) Council for the 12th time in a row. During the general conference of the FAO held virtually, South Korea was elected to the 49-member council for a three-year term, according to the Ministry of Agriculture, Food and Rural Affairs. The FAO is an intergovernmental organization with 194 member nations that works to ensure food and nutrition safety, alleviate poverty and impr

Business June 20, 2021

Former Justice Minister Choo Mi-ae on Sunday announced a plan to declare her presidential bid this week, entering an increasingly crowded field of the race to become the ruling Democratic Party's standard-bearer for next year's election. Choo said that she plans to announce her intention to run for president through her social media channel at 2 p.m. on Wednesday. Choo put forward her vision of a "Country that Elevates People." "There is nothing above people. People stand highe

Politics June 20, 2021

As South Korean archbishop Lazzaro You Heung-sik has been named the new prefect of the Congregation for the Clergy of the Holy See, his possible role in arranging Pope Francis' visit to North Korea is drawing attention from the Catholic community at home and abroad. On June 11, the Vatican announced the nomination of You as prefect of the Congregation for the Clergy, who is responsible for overseeing matters regarding priests and deacons. The 69-year-old Catholic priest became the first South

North Korea June 20, 2021