Construction machinery maker Hyundai Construction Equipment said Friday it has obtained orders for 534 units of construction equipment from Russia this month. The deals with unidentified Russian miners and builders include orders for 510 excavators, 15 wheel loaders and nine skid-steer loaders, Hyundai Construction Equipment said in an emailed statement. The construction equipment will be delivered by the first quarter of next year and used at the construction sites and coal mines in Russia, t

Industry Nov. 26, 2021

South Korea's military reported 19 additional COVID-19 cases Friday, down nine from a day earlier, bringing the total caseload among its personnel to 2,264. Two Army conscripts based in Paju, north of Seoul, contracted the virus after one of their fellows was infected. An officer stationed at a unit under the direct control of the ministry in Seoul and an Army conscript stationed in Pyeongtaek, some 70 kilometers south of the capital city, also tested positive following a case at their bases.

Defense Nov. 26, 2021

More than half of South Koreans believe an inter-Korean summit at the Beijing Winter Olympics, slated for February, will not be possible, a survey showed Friday. According to the survey on 1,000 adults by the Peaceful Unification Advisory Council on Nov. 20 and 21, 53.9 percent said an inter-Korean summit during the Winter Olympics would not be possible, while 40.1 percent said it would be. South Korea has sought to use the Beijing Games to create fresh momentum for the resumption of stalled d

North Korea Nov. 26, 2021

  Former South Korea international Choi Yong-soo will make his Gangwon FC coaching debut against his former team, FC Seoul, in the K League 1 on Sunday, but there's much more riding for Choi than just trying to get his first win over familiar faces. When Choi was hired on Nov. 16, he was immediately tasked with trying to rescue Gangwon FC from being relegated to the second-tier K League 2 next year. With two matches left this season, Gangwon FC are in 11th place, second from the bottom, w

Soccer Nov. 26, 2021

South Korea's Air Force chief will visit Colombia and Peru next week as part of military diplomacy focusing largely on strengthening arms industry cooperation with the South American countries, his office said Friday. During his visit to the Colombian capital city of Bogota, Air Force Chief of Staff Gen. Park In-ho will attend the Expodefensa 2021, one of the largest defense exhibitions in the region. Park also plans to separately hold talks with Colombian Defense Minister Diego Molano Aponte

Defense Nov. 26, 2021

South Korea's new coronavirus cases stayed below 4,000 for the second straight day Friday, but critical cases rose to a record high amid worries the virus could quickly spread under eased social distancing rules. The country reported 3,901 new COVID-19 cases, including 3,882 local infections, raising the total caseload to 432,901, according to the Korea Disease Control and Prevention Agency (KDCA). The number was down from 3,938 on Thursday. It was also down from 4,115 reported Wednesday, whic

Social Affairs Nov. 26, 2021

South Korean stocks opened lower Friday, largely as investors worry over the escalating coronavirus situation. The benchmark Korea Composite Stock Price Index (Kospi) fell 3.02 points, or 0.1 percent, to 2,977.25 points in the first 15 minutes of trading. The Kospi started off weak amid losses on the chemical and tech heavyweights. Market bellwether Samsung Electronics edged down 0.14 percent, No. 2 chipmaker SK hynix traded flat, and internet portal operator Naver lost 1.13 percent. Pharmac

Market Nov. 26, 2021

Foreign ownership of South Korean land expanded 1.3 percent in the first half of the year from six months earlier, the land ministry said Friday. Foreigners owned 256.7 square kilometers of land here as of end-June, up 3.39 million square meters from the end of December last year, according to the Ministry of Land, Infrastructure and Transport. The amount accounts for 0.26 percent of South Korea's total land area and is slightly more than four times the size of Manhattan in New York. The valu

Economy Nov. 26, 2021

South Korean stocks closed lower to extend their losing streak to a third day Thursday as the country's central bank raised its key policy rate to fight inflation and household debt. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 14.02 points, or 0.47 percent, to close at 2,980.27 points. Trading volume was moderate at about 587 million shares worth some 9.3 trillion won ($7.8 billion), with losers outnumbering gainers 642 to 228. Foreigners and institutions offloaded a ne

Market Nov. 25, 2021

Kakao Corp. said Thursday co-CEO Yeo Min-soo has been named to lead the operator of South Korea's top mobile messenger, KakaoTalk, for another four years. Kakao said its board of directors also selected Ryu Young-joon, who has served as the chief of Kakao's payment arm, Kakao Pay, as a new co-CEO of Kakao. Yeo, who has been leading Kakao since March 2018, will begin a second four-year term as a co-CEO with Ryu at a board meeting slated for March. "I will faithfully serve my role in this

Industry Nov. 25, 2021

Yoon Seok-youl, the presidential nominee of the main opposition People Power Party, said Thursday he will not exploit historical tensions between South Korea and Japan for domestic political gain. Speaking at a forum on Seoul-Tokyo relations, Yoon accused the Moon Jae-in administration of plunging the bilateral relationship to its worst level since the sides normalized ties in 1965 by bringing the issue of "foreign relations into domestic politics, instead of putting national interests fir

Politics Nov. 25, 2021

The Supreme Court ruled Thursday imports of childlike sex dolls should be banned, because they could lead to the perception of children as sexual objects and increase the danger of potential sex crimes against minors. The ruling overturned lower courts' decisions that imports of child sex dolls should be allowed, like those of adult dolls. In 2019, the top court allowed imports of adult sex dolls on grounds that they are sex toys used in private life, an area in which the state should not inter

Social Affairs Nov. 25, 2021

Former MVPs and major league players are among 14 free agents in South Korean baseball this winter. The Korea Baseball Organization (KBO) announced Thursday 14 out of 19 players eligible for free agency had decided to exercise their rights. Those 14 are free to sign deals starting Friday. The 2018 regular season MVP Kim Jae-hwan is entering the open market for the first time at age 33 after 14 years with the Doosan Bears. Kim had 27 home runs and 102 RBIs – the fifth time in the past six

Baseball Nov. 25, 2021

South Korea's chief economic policymaker said Thursday the country will come up with measures to win developed market status from Morgan Stanley Capital International (MSCI). South Korea has been pushing for the upgrade from the current position on the emerging markets list, as the global index provider will have its annual review in June next year. Finance Minister Hong Nam-ki earlier said the country deserves to win the developed market status "in light of its economic situation and fo

Economy Nov. 25, 2021

South Korea plans to halt the operation of some coal-powered plants over the winter in a move to reduce fine dust emissions, the industry ministry said Thursday. The operation of eight to 16 coal-powered plants will be suspended from December through February, according to the Ministry of Trade, Industry, and Energy. The country now has 53 coal plants. Up to 46 plants can be required to maintain their power output at 80 percent of capacity depending on the fine dust situation, the ministry ad

Industry Nov. 25, 2021