South Korea's daily coronavirus cases stayed below 4,000 for the second straight day Monday as the country has extended the enforcement of its tighter social distancing measures for two more weeks to stem a surge in infections and the spread of the omicron variant. The country added 3,129 new COVID-19 infections, including 2,993 local infections, raising the total caseload to 642,207, according to the Korea Disease Control and Prevention Agency (KDCA). This marked the second straight day that

Social Affairs Jan. 3, 2022

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it is targeting $17.4 billion in orders this year on improving demand for ships amid the prolonged pandemic. KSOE is the world's biggest shipbuilder by order backlog and has three affiliates -- Hyundai Heavy Industries Co., Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co. -- under its wing. The order target is up 19 percent from the KSOE's target of $14.9 billion last year, the company said in a regulatory fil

Industry Jan. 3, 2022

The outstanding value of derivatives-tied securities issued in South Korea touched a near eight-year low in the third quarter amid a fall in Hong Kong share prices, data showed Monday. The amount of outstanding equity-linked securities (ELS) and derivatives-linked securities (DLS) came to 79.9 trillion won ($67.1 billion) as of end-September, down 300 billion won from the previous quarter, according to the data from the Financial Supervisory Service. The September tally was the lowest value si

Economy Jan. 3, 2022

"Spider-Man: No Way Home" has surpassed a cumulative 6 million admissions for the first time since the coronavirus pandemic began in South Korea, box office data said Monday. The latest Marvel superhero film attracted 705,000 people from Friday-Sunday, bringing its combined total to 6.07 million, according to the data by the Korean Film Council. It is the first time a film has reached the 6 million line since the outbreak of the COVID-19 pandemic in the country in January in 2020. &

Film Jan. 3, 2022

Over 1,000 people have jointly filed a lawsuit against the government's requirement of presenting proof of vaccination in multiuse facilities on concerns over discrimination against unvaccinated people, sources said Sunday. A total of 1,023 plaintiffs filed the suit Friday with the Seoul Administrative Court against Health Minister Kwon Deok-cheol, Korea Disease Control and Prevention Agency Commissioner Jeong Eun-kyeong, and Seoul Mayor Oh Se-hoon to challenge the so-called vaccine pass. Und

Social Affairs Jan. 2, 2022

South Korea's initial public offering (IPO) market is expected to have another bumper year in 2022 as a slew of companies, including battery maker LG Energy Solution, are planning for stock market debuts, analysts said Sunday. The amount of money raised via IPOs on the main and tech-heavy stock markets reached a record high of 20.8 trillion won ($17.5 billion) last year, according to industry data. As more firms are preparing to go public with an aim of attracting more than 1 trillion won via

Economy Jan. 2, 2022

Proof of vaccination required for access to multiuse facilities will be valid only for six months after the primary series or booster doses starting Monday, health authorities said as they seek to stem the latest upsurge in virus cases. Under the tightened measure, those who completed the primary series on July 6 last year or before will not be allowed to use those facilities starting Monday if they are not administered with a booster shot, officials said. The so-called vaccine pass is require

Social Affairs Jan. 2, 2022

The state human rights watchdog has rejected a petition accusing the government of a human rights violation over its decision to revoke the license of an anti-North Korea group of defectors for sending propaganda leaflets across the border, sources said Sunday. The petition was filed with the National Human Rights Commission in June last year after the unification ministry decided to revoke the license of Fighters for a Free North Korea and to file a criminal complaint against its head, Park Sa

North Korea Jan. 2, 2022

North Korean leader Kim Jong-un has visited the mausoleum of his late grandfather and father in his first reported public activity this year, Pyongyang's state media said Sunday. Kim paid tribute at the Kumsusan Palace of the Sun, where the bodies of state founder and his grandfather Kim Il-sung and his father, Kim Jong-il, are enshrined, on the occasion of the start of the new year, according to the Korean Central News Agency (KCNA). The visit to the mausoleum came after he unveiled this ye

North Korea Jan. 2, 2022

South Korea's new coronavirus cases fell below 4,000 on Sunday as the country has implemented tighter antivirus measures to stem the spike in virus infections and the fast spread of the omicron variant. The country added 3,833 new COVID-19 infections, including 3,683 local infections, raising the total caseload to 639,083, according to the Korea Disease Control and Prevention Agency (KDCA). The daily figure marked a decline from 4,875 reported Friday and 4,416 on Saturday. The fall was largel

Social Affairs Jan. 2, 2022

With only about a month left until the start of the 2022 Winter Olympics in Beijing, South Korea still doesn't know if one of its best medal hopes will compete in China. That bit of uncertainty is unwelcoming for a country that may fall well short of the glory it enjoyed as the host of the previous Winter Olympics four years ago. The athlete in question is Shim Suk-hee, a two-time gold medalist in short track speed skating. On Dec. 21, Shim was suspended for two months by the Korea Skating Uni

Olympic Games Jan. 2, 2022

With the new year having dawned, the 2022 Beijing Olympic Winter Games are on the horizon, as problems ranging from a global pandemic to diplomatic boycotts to lack of star power threaten to plague preparations for China's next global showcase. The 24th Winter Olympics will open on Feb. 4 and wrap up on Feb. 20. It will be the last of three consecutive Olympic Games to take place in East Asia. South Korea started the unprecedented streak with the 2018 PyeongChang Winter Olympics and Japan follo

Olympic Games Jan. 2, 2022

South Korean chipmaker SK hynix Inc. said Sunday it has moved up a notch to receive an A in the MSCI ESG Ratings assessment. MSCI, or Morgan Stanley Capital International, is an American rating agency that measures, among other things, a company's resilience to long-term, financially relevant environmental, social and corporate governance issues (ESG) risks. Since October 2020, SK hynix had been labeled BBB on a scale of AAA-CCC in the MSCI ESG Ratings assessment. The latest upgrade put SK hy

Industry Jan. 2, 2022

South Korea's exports rose 25.8 percent in 2021 from the previous year to reach an all-time high on the back of solid demand for chips and petroleum products amid a global economic recovery, the industry ministry said Saturday. Outbound shipments stood at US$644.54 billion last year, compared with $512.5 billion a year earlier, according to data compiled by the Ministry of Trade, Industry and Energy. It marked the highest annual figure since the country began compiling trade related data in 1

Economy Jan. 1, 2022

  South Korean stocks are expected to gather ground next week as an optimistic mood from solid US consumer spending during the end-of-the-year holiday season and other factors will likely whet investor appetite for risky assets.  The Korea Composite Stock Price Index closed at 2,977.65 on Thursday, the last trading day for this year, down 0.68 percent from last Friday.  The stocks moved in a tight range amid a lack of fresh leads as investors took to the sidelines on the final

Market Jan. 1, 2022