The Cabinet on Wednesday approved the government's pledge to reduce greenhouse gas emissions by 40 percent from 2018 levels by 2030 and achieve net-zero emissions by 2050. The pledge, which was passed at a Cabinet meeting presided over by Prime Minister Kim Boo-kyum, represents a significant raise in the country's previous greenhouse gas reduction target of 26.3 percent. President Moon Jae-in plans to introduce the country's vision globally in person at the 26th United Nations Climate Change C

Politics Oct. 27, 2021

The number of female executives at South Korea's top 100 firms increased in 2021 from a year earlier to surpass the 300 mark for the first time, data showed Wednesday. Those leading companies in Asia's fourth-largest economy had a combined 322 women executives as of end-June this year, up 36 from last year, according to the data from local headhunter UnicoSearch. The figure accounts for 4.83 percent of all high-level seats offered by the major companies. The number of those firms' female exec

Industry Oct. 27, 2021

South Korea lost to the United States 6-0 in the last of their two women's football friendly matches on American soil, unable to put up much of a fight against the top-ranked opponent. Five players had a goal apiece for the US in their resounding victory at Allianz Field in St. Paul, Minnesota, on Tuesday (local time), with South Korean midfielder getting an own goal late in the first half. South Korea fell to four draws and 11 losses all time against the US. South Korea, ranked 18th, held the

Soccer Oct. 27, 2021

The government will hold a Cabinet meeting Wednesday to discuss whether to hold a state funeral for late former President Roh Tae-woo, the country's last general-turned-president accused of deep involvement in a coup and the bloody crackdown on a pro-democracy uprising. The Cabinet meeting is aimed at holding discussions on a state funeral proposal but tabling the proposal at a Cabinet meeting itself raised views that the government was close to deciding to hold a state funeral for him. Presid

Politics Oct. 27, 2021

The government said Wednesday that it plans to introduce 5G-equipped buses across the country by 2023, giving citizens access to free wireless internet that is up to four times faster. The Ministry of Science and ICT said 29,100 out of 35,000 city buses across the country will be upgraded with fifth-generation (5G) network service by 2023. The upcoming service will offer an internet speed of 400 megabits per second (Mbps), which is up to four times faster than the LTE Wi-Fi connection currently

Technology Oct. 27, 2021

South Korea will take "all possible" measures to stabilize the real estate market as it sees the pace of home price growth slowing down, the finance ministry said Wednesday. The government has announced dozens of comprehensive packages to supply homes, curb speculative home transactions and stabilize rising property prices over the past four years. Still, the regulations failed to tame runaway home prices. The average price of an apartment in Seoul doubled to 1.21 billion won ($1.03

Economy Oct. 27, 2021

The chiefs of South Korean battery maker Samsung SDI Co. and global automaker Stallantis N.V. have met in Hungary, company officials said Wednesday, days after announcing a partnership to build an electric vehicle (EV) battery plant in the United States. The meeting between Samsung SDI CEO Jun Young-hyun and Carlos Tavares, CEO of Stellantis, came after the two companies announced a plan to jointly build an EV battery plant in the US, with the production to begin in the first half of 2025. It

Industry Oct. 27, 2021

South Korea's military reported two additional COVID-19 cases Wednesday, bringing the total caseload among its personnel to 2,019, the defense ministry said. An officer of the Joint Chiefs of Staff based in Seoul tested positive after a family member was infected. An Army officer stationed in Yangju, north of Seoul, also tested positive after a virus case was reported at the base. Of the cumulative cases in the military, 1,963, or 97 percent, have been fully cured, with 56 still under treatme

Defense Oct. 27, 2021

Hyundai-Rotem Co. on Wednesday reported its third-quarter net income of 6.2 billion won ($5.3 million), up 36.3 percent from a year earlier. The company said in a regulatory filing that operating income for the July-September period fell 74.6 percent on-year to 7.9 billion won. Revenue increased 2.5 percent to 710.4 billion won. The operating profit was 70.1 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The es

Industry Oct. 27, 2021

South Korea's new coronavirus cases soared to nearly 2,000 Wednesday, as fresh concerns emerge over people letting their guard down ahead of the start of a gradual easing of virus curbs aimed at returning to normalcy. The country added 1,952 more COVID-19 cases, including 1,930 local infections, raising the total caseload to 356,305, according to the Korea Disease Control and Prevention Agency (KDCA). The latest count is a big jump from the previous day's 1,266 and 1,190 reported on Monday, al

Social Affairs Oct. 27, 2021

Korea Zinc Inc. on Wednesday reported its third-quarter net profit of 200.3 billion won ($171.6 million), up 17.5 percent from a year earlier. The company said in a regulatory filing that operating profit for the July-September period fell 0.6 percent on-year to 265.8 billion won. Revenue increased 22.2 percent to 2.41 trillion won. The operating profit was 1.3 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The

Industry Oct. 27, 2021

South Korean stocks opened lower Wednesday as investors attempted to cash in gains. The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.81 points, or 0.26 percent, to 3,041.27 points in the first 15 minutes of trading. The KOSPI got off to a lackluster start amid losses in tech and chemicals, while bio and auto stocks performed well. Top cap Samsung Electronics lost 0.98 percent to 70,400 won, and No. 2 chipmaker SK hynix traded flat at 102,000 won. Leading chemical firm LG Chem

Market Oct. 27, 2021

The office of President Moon Jae-in was mulling how much courtesy to extend to late former President Roh Tae-woo, including whether to hold a state funeral for the country's last general-turned-president accused of deep involvement in a coup and the bloody crackdown on a pro-democracy uprising. Moon has not issued any message yet since Roh died Tuesday at age 88, suggesting that soul-searching is under way to determine the right balance between paying respect to a late predecessor and public se

Politics Oct. 27, 2021

North Korea has held a Cabinet meeting and urged officials to put utmost efforts to accomplish the country's five-year economic development plan, state media reported Wednesday. The enlarged plenary meeting of the Cabinet took place via video links the previous day, chaired by Premier Kim Tok-hun, with Vice Premier Pak Jong-gun making a report on the country's economic performance, according to the North's official Korean Central News Agency (KCNA). During the meeting, Pak analyzed deficiencie

North Korea Oct. 27, 2021

Pan Ocean Co. on Wednesday reported its third-quarter net income of 179 billion won ($153.4 million), up 325.2 percent from a year earlier. The company said in a regulatory filing that operating profit for the July-September period rose 204.1 percent on-year to 191.3 billion won. Revenue increased 109.4 percent to 1.32 trillion won. The operating profit was 21.5 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. T

Industry Oct. 27, 2021