South Korea reported the largest job growth in more than seven years in September in the latest sign that the country's job recovery has continued despite the fourth wave of the pandemic, data showed Wednesday. The number of employed people reached 27.68 million last month, 671,000 more than a year earlier, according to the data compiled by Statistics Korea. It marked the largest job additions since March 2014, when the number of employed people grew 726,000. It also was the seventh straight m

Economy Oct. 13, 2021

Output and exports of South Korea's state industrial complexes rose in the first half of the year from the pre-pandemic period, but their employment shrank, data showed Wednesday. Combined production of the 44 industrial parks came to 258 trillion won ($216 billion) in the January-June period, up 6.6 percent from the same period in 2019, months before the COVID-19 outbreak hit the country, according to an analysis by the Federation of Korean Industries (FKI). Their total exports also swelled 1

Economy Oct. 13, 2021

WASHINGTON -- The top national security advisers of South Korea and the United States on Tuesday reaffirmed their commitment to engaging with North Korea, also vowing to work together in bringing the North back to the dialogue table. US National Security Adviser Jake Sullivan also reaffirmed that the United States holds no hostile policy toward the North during a bilateral meeting with his South Korean counterpart, Suh Hoon, in Washington, according to the South Korean National Security Council

Foreign Affairs Oct. 13, 2021

Prosecutors sought an arrest warrant Tuesday for the owner of an asset management firm at the center of a snowballing regional development corruption scandal over allegations his firm received massive business favors in exchange for bribes. Kim Man-bae, a former journalist, is facing a series of allegations in connection with how his previously little-known firm, Hwacheon Daeyu, was selected as a civilian partner for the 2015 development project in the city of Seongnam, south of Seoul, and reap

National Oct. 12, 2021

Seoul shares closed lower for a second straight session Tuesday on foreign selling amid concerns over inflation sparked by surging prices of oil and other energy resources. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 39.92 points, or 1.35 percent, to close at 2,916.38 points. Trading volume was moderate at about 648 million shares worth some 12.5 trillion won ($10.4 billion), with losers outnumbering gainers 572 to 310. Foreigners s

Market Oct. 12, 2021

SK Telecom Co. said Tuesday its shareholders approved the company's plan to launch a non-telecom spinoff in the latest move to make aggressive investments in new tech and semiconductor businesses. The corporate restructuring -- the first since the company's foundation in 1984 -- is designed to split South Korea's largest wireless carrier into two, spinning off a new investment company as SK Square. "The main purpose of the company's spinoff is to maximize shareholder value," Park Jun

Industry Oct. 12, 2021

The first son of Chung Mong-joon, the largest shareholder of Hyundai Heavy Industries Holdings Co. (HHIH), has been appointed the new CEO of the holding company, Hyundai Heavy Industries Group said Tuesday. Chung Mong-joon holds a 26.6 percent stake in HHIH, the holding company of the world's largest shipbuilding group, and his eldest son, Chung Ki-sun owns, a 5.26 percent stake in the company. The junior Chung, 39, has been also named the chief executive of Korea Shipbuilding & Offshore

Industry Oct. 12, 2021

The South Korean government proposed Tuesday North Korea resume inter-Korean dialogue in order to narrow differences and promote mutual understanding after its leader accused Seoul of being "hypocritical" and having "double standards." In a speech Monday at a defense development exhibition to mark the 76th founding anniversary of the ruling Workers' Party, the North's leader Kim Jong-un condemned Seoul for continuing efforts to boost its military capabilities while talking p

North Korea Oct. 12, 2021

Rapper NO:EL was arrested Tuesday on charges of driving without a license, refusing to take a breathalyzer test and headbutting a police officer last month. Police took the 21-year-old, whose real name is Chang Yong-jun, into custody after the Seoul Central District Court issued an arrest warrant for him, saying that investigations have found the allegations to be likely true and there is a flight risk. The incident took place on the night of Sept. 18 when Chang caused a fender bender while driv

Social Affairs Oct. 12, 2021

President Moon Jae-in on Tuesday ordered a thorough probe into a snowballing corruption scandal involving a close aide to the ruling Democratic Party's presidential nominee. Cheong Wa Dae spokeswoman Park Kyung-mee told reporters Moon instructed the prosecution and the police to "actively cooperate and do their utmost to uncover the factual truth through a swift and thorough investigation."This is the first time Moon has commented on the scandal that centers on allegations that the a

Politics Oct. 12, 2021

The number of state employment insurance subscribers in the service sector topped 10 million last month for the first time since the insurance scheme was introduced 26 years ago, government data showed Tuesday. According to the Ministry of Employment and Labor, more than 10 million service sector workers were subscribed to the state insurance plan last month, up 270,000 from September 2020, the first time the service industry achieved the milestone since the country adopted the plan in 1995. By

Social Affairs Oct. 12, 2021

President Moon Jae-in said Tuesday that the country is about to enter the "last gateway" to a return to normal following the COVID-19 pandemic. Moon made the remark during a Cabinet meeting at Cheong Wa Dae, referring to Wednesday's planned launch of a new government-civilian committee handling the transition from COVID-19 to everyday life. "We have done well until now, and if we hang on a little longer, we will be able to enter the stage of returning to normal as planned, in li

Social Affairs Oct. 12, 2021

The Supreme Court on Tuesday ordered the government to pay Daewoo Shipbuilding & Marine Engineering Co. (DSME) 31 billion won ($25.8 million) in connection with a protracted legal dispute surrounding a project to build the country's first indigenous military salvage vessel. Tuesday's ruling confirmed two lower court rulings in favor of the shipbuilder, which was seeking government compensation after the Defense Acquisition Program Administration (DAPA) refused to accept the 3,500-ton Navy sa

Social Affairs Oct. 12, 2021

A Seoul court on Tuesday sentenced a young man to life imprisonment for brutally killing an online game mate he stalked and her family members, in a case that raised awareness about stalking crimes The Seoul Northern District Court delivered the sentence to Kim Tae-hyun, 25, indicted on five criminal charges, including murder, housebreaking and theft. Kim was arrested at the victims' home on March 25, with self-inflicted injuries, two days after killing the three women there. He had been stalk

Social Affairs Oct. 12, 2021

President Moon Jae-in, clad in traditional Korean attire hanbok, presided over a Cabinet meeting on Tuesday, in a move to raise awareness among the public over the traditional outfit. The move came as the culture ministry designated Oct. 11-17 as the "Week of Autumn Hanbok Culture" to promote the traditional Korean dress, which features large sleeves and wide trousers. Moon said hanbok has gained international attention due to its unique beauty and styles. Oxford English Dictionary has

Politics Oct. 12, 2021