South Korea's tax revenue fell 6.2 trillion won ($5.3 billion) in October from a year earlier as the government delayed the payment of some taxes by small merchants and firms hit by the pandemic, the finance ministry said Thursday. The government collected 32.9 trillion won in taxes in October, compared with 39.1 trillion won a year earlier, according to the Ministry of Economy and Finance. Tax revenue increased every month between January and September from a year earlier as corporate tax inc

Economy Dec. 9, 2021

South Korea's new coronavirus cases stayed above 7,000 for the second consecutive day Thursday and the number of critically ill patients hit an all time-high amid waning immunity and colder weather. The country confirmed 7,102 new COVID-19 infections, raising the total caseload to 496,584, according to the Korea Disease Control and Prevention Agency (KDCA). The daily tally was slightly down from a daily record-high of 7,175 reported a day earlier, the KDCA said. The number of critically ill C

Social Affairs Dec. 9, 2021

South Korean television series "Squid Game" has won a special honor from the American Film Institute (AFI). The AFI announced the top 10 movies and TV shows of the year on Wednesday (US time), and "Squid Game" was one of the three special award winners, along with "Belfast" and "Summer of Soul…(Or, When the Revolution Could Not be Televised)," although they fell outside the institute's criteria for American film and TV. This year's top awards for

Film Dec. 9, 2021

US missile defense system capabilities including those in South Korea are constantly reviewed and upgraded to meet evolving threats, Pentagon Press Secretary John Kirby said Wednesday. Kirby also highlighted the need for such capabilities to counter threats posed by what he called any "would-be" foes. "This is the kind of capability that we not only believe we need in the region but that we need to continually review and upgrade as necessary," Kirby said when asked if the U

Defense Dec. 9, 2021

South Korean stocks opened slightly higher on Thursday, led by advances by auto and chemical stocks. The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.28 points, or 0.18 percent, to trade at 3,007.08 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq composite added 0.64 percent and the Dow Jones Industrial Average edged up 0.1 percent on easing concerns about the omicron variant of the new coronavirus. In Seoul, market bellwether Samsung Electronics lost 0.28 p

Market Dec. 9, 2021

The United States is in a better position from a year earlier to compete with China, partly thanks to its strong alliances with countries such as South Korea, National Security Advisor Jake Sullivan said Wednesday. The top US security advisor also underscored the importance of a US military presence in the Indo-Pacific region to help maintain peace and stability. "I believe that there's a fairly straightforward way of looking at this, which is, close to one year into the Biden administrat

Foreign Affairs Dec. 9, 2021

Audi Volkswagen Korea, Honda Korea and three other companies will voluntarily recall more than 4,200 vehicles to fix faulty components, the transport ministry said Thursday. This is the latest in a series of recalls by carmakers operating in South Korea due to problems with vehicle components. The five companies, including Volvo Trucks Korea, Stellantis Korea, FMK which sells Ferraris and Maseratis in the country, are recalling a combined 4,282 units in 10 kinds of models, the Ministry of La

Industry Dec. 9, 2021

The top diplomats of South Korea and Hungary on Wednesday discussed ways to boost cooperation and exchanges between the two countries in a phone conversation, Seoul's foreign ministry said.    Foreign Minister Chung Eui-yong held phone talks with his Hungarian counterpart, Peter Szijjarto, as their in-person meeting in Seoul was cancelled because one of Szijjarto's staff was confirmed to have COVID-19 following their arrival early in the morning.    During their conversati

Foreign Affairs Dec. 8, 2021

South Korea expanded its entry ban to two additional African countries Wednesday amid growing concerns over the fast-spreading omicron coronavirus variant.    From Friday to next Thursday, short-term foreign arrivals from Ghana and Zambia will be banned. South Korean nationals and long-term foreign arrivals from these countries will face a mandatory 10-day quarantine, regardless of their COVID-19 vaccination status.    Effective Nov. 28, South Korea had earlier banned fore

Social Affairs Dec. 8, 2021

South Korean Foreign Minister Chung Eui-yong will visit Britain this weekend to attend a meeting of foreign and development ministers from the Group of Seven (G-7) industrialized countries, his ministry said Wednesday. The two-day session to open in Liverpool on Saturday is meant for discussions on a range of global issues, including ways for fair access to COVID-19 vaccines and cooperation on global supply chains as well as economy and security in the Indo-Pacific region and gender equality,

Foreign Affairs Dec. 8, 2021

K-pop superband BTS has won three prizes at the 2021 People's Choice Awards, the latest in a series of honors it took home from the United States this year. The South Korean group won the group of 2021 and both the song and the music video of 2021 for its megahit "Butter" at the annual ceremony held in person in Santa Monica, California, Tuesday (US time). The septet, in particular, beat out big name stars, such as Coldplay, Dan + Shay, Jonas Brothers and Maroon 5, to win in the gro

K-pop Dec. 8, 2021

South Korean stocks advanced for a sixth straight session Wednesday on the back of eased concerns about the omicron variant. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 10.08 points, or 0.34 percent, to close at 3,001.8 points. The key index retrieved the 3,000-point mark for the first time in about two weeks. Trading volume was moderate at about 482 million shares worth some 11 trillion won ($9.4 billion), with losers outnumbering g

Market Dec. 8, 2021

The ruling Democratic Party has begun looking into delaying the introduction of the "vaccine pass" system for children aged 12 to 18 and changing the types of facilities that require the pass after strong protests from students and parents, multiple party officials said Wednesday. Under rules that took effect Monday, the list of facilities requiring visitors to present a vaccine pass -- proof of vaccination or a negative COVID-19 test result -- has expanded to include restaurants, cof

Politics Dec. 8, 2021

South Korea is not considering a diplomatic boycott of the upcoming Winter Olympics in Beijing and the country is still undecided on the matter, a senior presidential official said Wednesday. The official, who spoke on the condition of anonymity, made the remarks when asked about the US government's announcement to stage a diplomatic boycott of the Winter Olympics due to China's human rights abuses. The official said the US informed South Korea of the diplomatic boycott, and Seoul has not de

Politics Dec. 8, 2021

Lee Jae-myung, the presidential candidate of the ruling Democratic Party, on Wednesday welcomed the opposition campaign chief's proposal to spend 100 trillion won ($84.9 billion) to support small business owners and self-employed people hit by the COVID-19 pandemic. "We have been the stingiest nation in the world when it comes to supporting small business owners, passing over duties to people that are supposed to be handled by the state," Lee said during his campaign event for small a

Politics Dec. 8, 2021