Yoon Suk-yeol, the presidential nominee of the main opposition People Power Party (PPP), said Saturday he will fix the country's tax system to stabilize the housing market. "The current government thought soaring home prices were caused by multiple homeowners' speculative demand, or their cornering and hoarding in the market, but that is wrong," Yoon said on 3Pro TV, a YouTube channel about the economy. "I will rationalize the tax system, so that multiple homeowners' properties

National Dec. 25, 2021

Lee Jae-myung, the presidential candidate of the ruling Democratic Party (DP), said Saturday South Korean stocks are undervalued and he believes the Korea Composite Stock Price Index (KOSPI) can go up to the 5,000-point range. "KOSPI reaching 5,000 points is not difficult," Lee said on 3Pro TV, a YouTube channel about the economy. KOSPI closed at 3,012.43 on Friday. Asked why he thinks local stocks are undervalued, Lee pointed to a lack of transparency in the market. "Since th

National Dec. 25, 2021

South Korea's new coronavirus cases fell below 6,000 for the first time in four days Saturday, apparently as a result of antivirus restrictions, but critical cases surged to another record high. The country added 5,842 more COVID-19 cases, including 5,767 local infections, bringing the cumulative total to 602,051, the Korea Disease Control and Prevention Agency (KDCA) said. Saturday's tally is sharply down from 6,233 cases on Friday and 6,917 cases on Thursday. The number of critically ill p

National Dec. 25, 2021

South Korea's defense ministy on Saturday reported 25 additional COVID-19 cases, with 24 of them being breakthrough infections, raising the total caseload in the military to 3,089. Of the new cases, five are from the Army, 13 from the Navy, five from the Air Force, two from units under the direct control of the defense ministry. Of the total military caseload, 1,297 are breakthrough cases. The military plans to complete its booster shot program, which began last Monday, by Jan. 14. (Yonhap)

Defense Dec. 25, 2021

President Moon Jae-in on Saturday expressed hope that Christmas will serve as a day to care and give hope to each other as he also delivered message of encouragement to people suffering from COVID-19. "Helping hands that look around to see whether our neighbor is sick, eating meals, living in a warm room would be the heart of Jesus," Moon wrote in his message posted on Twitter on Christmas morning. "We are heading to a light. We will do our best to make the world a warmer place.

National Dec. 25, 2021

President Moon Jae-in will hold a luncheon with the chiefs of conglomerates, including Samsung Electronics Vice Chairman Lee Jae-yong, to thank them for their participation in a government-led jobs project, Cheong Wa Dae said Friday. Other likely invitees to the lunch scheduled for Monday include the chiefs of KT, LG, SK, POSCO and Hyundai Motor Group, all of which took part in the project to create youth jobs. SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun and LG

Politics Dec. 24, 2021

The number of South Koreans studying in foreign nations in 2020 dropped 41 percent from two years earlier amid the COVID-19 pandemic, data showed Friday. There were 171,343 South Korean students abroad at the end of last year, a decrease from 293,157 recorded at the end of 2018, according to the foreign ministry's report on Korean expatriates. The total number of South Koreans abroad fell 6.53 percent over the same period to 2.51 million, apparently affected by the virus situation. (Yonhap)

Social Affairs Dec. 24, 2021

South Korea's Vice Foreign Minister Choi Jong-kun had discussions with Iran's top envoy here on "pending" bilateral issues Friday, his ministry said. Choi met with Ambassador Saeed Badamchi Shabestari and reaffirmed that Seoul will continue diplomatic efforts for progress in negotiations on Iran's nuclear program, taking the importance of Seoul-Tehran ties into consideration, it added. They also agreed to maintain close communication to resolve "pending" bilateral issues. T

Foreign Affairs Dec. 24, 2021

Ariel Miranda, the Cuban-born pitcher who won South Korean baseball's MVP award while setting a new strikeout record this year, will be back for another season. The Doosan Bears of the Korea Baseball Organization (KBO) said Friday they have re-signed Miranda to a new one-year deal worth up to $1.9 million. The left-hander will make $1.6 million in salary and $300,000 in signing bonus. In his first KBO season, Miranda led the league with a 2.33 ERA and 225 strikeouts, two more than the previous

Baseball Dec. 24, 2021

Suga, a member of K-pop superband BTS, has tested positive for the new coronavirus, his management agency said Friday. Suga was confirmed to have the virus in a polymerase chain reaction test after arriving in Seoul from the United States on Thursday, according to Big Hit Music. "Suga received his second dose of a COVID-19 vaccine in late August," it said. "He has no special symptoms and is staying at home in accordance with the guidelines of the quarantine authorities." T

K-pop Dec. 24, 2021

The South Korean stock market continued its winning streak to a fourth session Friday amid eased concerns over the impact of the omicron variant on the global economy. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 14.26 points, or 0.48 percent, to 3,012.43 points. Trading volume was moderate at about 530 million shares worth some 8.4 trillion won ($7.7 billion), with gainers outnumbering losers 602 to 228. Foreigners bough

Market Dec. 24, 2021

South Korean budget carrier Air Premia Co. said Friday it has opened its first international cargo flight to Singapore to focus on the cargo business amid the COVID-19 pandemic. Air Premia plans to operate the Incheon-Singapore route every Friday at 8:30 p.m. The company said it will consider starting passenger flights to Singapore depending on the COVID-19 pandemic. It also plans to review whether to operate cargo flights to Vietnam next month. Air Premia's Boeing 787-9 jet is a medium-size

Industry Dec. 24, 2021

After a forgettable one-season stint in the majors, South Korean left-hander Yang Hyeon-jong is back with the Kia Tigers. The Tigers announced on Friday they have brought back their franchise icon on a four-year contract worth up to 10.3 billion won ($8.7 million). The 33-year-old pitcher will earn 2.5 billion won in total salary, 3 billion won in signing bonus, and a maximum 4.8 billion won in incentives. Yang spent the first 14 seasons of his Korea Baseball Organization (KBO) career with the

Baseball Dec. 24, 2021

Samsung Electronics Co. said Friday its memory chip complex in the Chinese city of Xi'an went into an emergency mode as the Chinese authorities enforced a lockdown to stem the spread of the coronavirus. The South Korean tech giant said the emergency measure has not affected production, as it has been fully utilizing factory workers living in the company's dormitory. "The factory is currently fully operational," a company's official said, adding "We are closely watching the devel

Industry Dec. 24, 2021

The South Korean webtoon industry saw its combined sales top 1 trillion won ($843.6 million) for the first time last year, government data showed Friday. The total sales of the local web-based comic market amounted to 1.05 trillion won in 2020, up 64.6 percent from a year earlier, according to the data by the culture ministry and the Korea Creative Content Agency (KOCCA). It is the first time that the annual industrywide sales surpassed the 1 trillion-won threshold since 2017, when the ministr

Cartoon Dec. 24, 2021