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

The NC Dinos inked free agent outfielder Son Ah-seop to a four-year contract Friday, flaunting their wealth in what has been a frenetic offseason in South Korean baseball. The Dinos said Son agreed to a 6.4 billion-won ($5.4 million) contract. The 33-year-old will make 3 billion won in total salary, 2.6 billion won in signing bonus and up to 800 million won in incentives. Son has spent his entire 15-year career in the Korea Baseball Organization (KBO) with the Lotte Giants, and will now take h

Baseball Dec. 24, 2021

The Samsung Lions announced Friday they have re-signed their own free agent catcher Kang Min-ho to a new four-year contract. Kang, 36, will make up to 3.6 billion won ($3 million) in his second straight four-year deal with the Lions. Kang will make 2 billion won in total salary and 1.2 billion won in signing bonus, with another 400 million won available in incentives. One of the top offensive catchers in the Korea Baseball Organization (KBO), Kang batted .291 with 18 homers and 67 RBIs in 123

Industry Dec. 24, 2021

Ex-President Park Geun-hye expressed gratitude for her pardon to President Moon Jae-in shortly after the announcement of Moon's decision to grant a special pardon to her, her lawyer said Friday. President Moon Jae-in said earlier in the day that he granted a special pardon to former President Park, currently serving a 22-year prison term for corruption, to bolster national unity and in consideration of her deteriorating health. In a meeting with reporters in front of Seoul Samsung Hospital whe

Politics Dec. 24, 2021

The number of single-member households in South Korea soared more than 27 percent in 2020 from five years earlier, government data showed Friday, amid a delay in marriage and a rapidly aging population. One-person families numbered 6.64 million last year, up 27.5 percent from five years earlier and accounting for 31.7 percent of the total 20.93 million, according to the data by Statistics Korea. By age, men took up 49.7 percent of single-person households, with their number soaring 42.7 percen

Social Affairs Dec. 24, 2021

Prosecutors on Friday indicted Seoul's top education official on charges of alleged abuse of power in the process of hiring teachers who had been fired for engaging in union activities. Cho Hee-yeon, the superintendent of the Seoul Metropolitan Office of Education, was charged without detention for allegedly influencing the process of reinstating five dismissed teachers, including members of a teachers' labor union, in 2018. The Seoul Central District Prosecutors Office also pressed charges ag

Social Affairs Dec. 24, 2021

This season's first cold wave warning will be issued in the greater Seoul area and many other parts of the country on Friday night, with temperatures expected to plummet to as low as minus 15 C the following morning, the weather agency said. The Korea Meteorological Administration (KMA) said the cold wave warning will take effect at 9 p.m. in the capital area, most of Gangwon Province and many other central inland regions. The warning is issued when the morning low is expected to fall more tha

Social Affairs Dec. 24, 2021

K-pop superband BTS has become the first international act to be best-selling artist of the year in Japan. According to the annual rankings released by Japanese music tracker Oricon on Friday, the septet placed No. 1 on the total sales by artist, based on the aggregated sales of albums, DVDs, online streamings and online singles. The company said BTS is the first non-Japanese artist to top the annual comprehensive sales chart. Oricon earlier said BTS' Japanese-language compilation album "

K-pop Dec. 24, 2021

South Korea's financial watchdog has ordered Kyobo Life Insurance Co. to pay a fine of 350 million won ($295,000) for letting its subsidiaries use its brand for free, the company said Friday. The Financial Supervisory Service (FSS) also issued warnings to five officials, including a retired employee of the insurer, in connection with the matter, according to the company. Kyobo Life Insurance, No. 3 life insurer in South Korea, was accused of providing undue support to the subsidiaries by letti

Industry Dec. 24, 2021

SK Bioscience Co., a vaccine unit of South Korea's SK Group, said Friday it has extended an agreement to manufacture a component of the US-based biotechnology company Novavax Inc.'s COVID-19 vaccine by one more year. Under the extended agreement, SK Bioscience will reserve additional manufacturing capacity to produce antigen, a key component of NVX-CoV2373 -- Novavax's recombinant protein-based COVID-19 vaccine -- through 2022. Last year, the two sides initially signed the agreement to reserve

Industry Dec. 24, 2021

South Korea's military on Friday reported 37 additional COVID-19 cases, including 30 breakthrough infections, raising the total caseload among its personnel to 3,064. Of the new cases, 24 are from the Army, six from the Navy, four from the Air Force, two from units under the direct control of the defense ministry and one from the Marine Corps, the ministry said. Currently, 286 military personnel are under treatment. Of the total military caseload, 1,273 are breakthrough cases. (Yonhap)

Defense Dec. 24, 2021