South Korea remains committed to working closely with the United States on measures that would bring North Korea back to dialogue, including envisioned humanitarian cooperation with Pyongyang, the foreign ministry said Friday. The ministry made the point in a policy report for the parliamentary audit, as Seoul seeks to resume the stalled nuclear diplomacy with the North despite the regime's renewed saber-rattling with a series of weapons tests, including the latest reported test of a new anti-ai

Diplomatic Circuit Oct. 1, 2021

New home permits in South Korea soared nearly 22 percent in the first eight months of the year amid rising housing prices, government data showed Friday. Construction permits issued for new homes came to 312,860 units in the January-August period, up 21.6 percent from a year ago, according to the data from the Ministry of Land, Infrastructure and Transport. New construction permits in the South Korean capital of Seoul spiked 52 percent to 50,638 over the cited period. New home permits issued in

Economy Oct. 1, 2021

The National Assembly will launch its annual three-week audit of the government and state agencies Friday, the last such parliamentary inspection under the Moon Jae-in administration. A total of 745 government ministries and agencies will be subject to this year's parliamentary investigation to be simultaneously conducted by the assembly's 17 standing committees, according to legislative officials. The three-week event is predicted to be a scene of intense bipartisan disputes over a couple of sn

Politics Oct. 1, 2021

The United States is still assessing the type of the missile launched by North Korea this week but the US homeland would remain safe even if it turns out to be a hypersonic missile as claimed by the North, the commander of North American Aerospace Defense Command said Thursday. North Korea on Wednesday (Seoul time) said it fired a new hypersonic missile the previous day. "I understand the intelligence community's still making an assessment of the North Korean claim to have tested a hyperson

Defense Oct. 1, 2021

North Korea said Friday it test-fired a new type of anti-aircraft missile a day earlier capable of downing air targets at longer distances with enhanced accuracy. The North's Academy of Defence Science carried out the test aimed at "confirming the practicality of operation of the launcher, radar and comprehensive battle command vehicle as well as the comprehensive combat performance of the missile," the official Korean Central News Agency (KCNA) said. The academy verified the "r

North Korea Oct. 1, 2021

North Korean leader Kim Jong-un pledged support for China's fight against "hostile forces' frantic anti-China confrontational moves" in a message he sent to Chinese President Xi Jinping to celebrate the 72nd founding anniversary of the ally, Pyongyang's state media reported Friday. "The message expressed belief that the Chinese nation's dream of rejuvenation will surely come true as there are the socialist idea with the Chinese characteristics for the new times," the Korean C

North Korea Oct. 1, 2021

Domestic sales of Samsung Electronics Co.'s new foldable smartphones -- the Galaxy Z Fold3 and the Galaxy Z Flip3 -- are likely to top 1 million units this weekend, industry officials said Friday, as the tech giant tries to popularize the foldable category. The third generation of the Galaxy Z series is set to surpass the 1 million sales milestone just about a month after its launch on Aug. 27, according to the officials in the telecom industry. Such a sales pace is similar to that of the Galaxy

Industry Oct. 1, 2021

South Korea's exports have extended their gains to 11 consecutive months and set a record high level by rising 16.7 percent, data showed Friday, maintaining solid growth despite growing concerns over the spread of COVID-19 variants around the globe. Outbound shipments came to $55.8 billion last month, according to the data compiled by the Ministry of Trade, Industry and Energy. The monthly figure was the highest since South Korea started compiling such data in 1956. The previous record was $55.4

Economy Oct. 1, 2021

The Air Force on Friday launched a new probe unit under the direct control of its headquarters to better guarantee the independence of investigators, the military said, following a sexual abuse case that led the victim to take her own life in May. Previously, military police at each Air Force unit had the authority to conduct an investigation, drawing criticism that such probes could not be free of influence from their unit commanders. With the launch of the new investigation team, military poli

Social Affairs Oct. 1, 2021

SK Inc., the holding firm of South Korean conglomerate SK Group, said Friday it has additionally invested 65 billion won ($55 million) in Perfect Day, a US alternative milk maker, following 54 billion won of funds last year. SK said it joined the latest round of funding for Perfect Day, which drew $350 million from several global investors, including Horizon Ventures, Temasek, CPP Investments and Bob Iger. Perfect Day, known for its animal-free dairy products, launched an ice cream brand "B

Industry Oct. 1, 2021

South Korea's daily coronavirus cases remained in the 2,000s for the sixth consecutive day Friday, prompting authorities to maintain the current level of virus restrictions for another two weeks ahead of back-to-back extended weekends this month. The country reported 2,486 new COVID-19 cases, including 2,451 local infections, bringing the total caseload to 313,773, according to the Korea Disease Control and Prevention Agency (KDCA). There were 16 more deaths from COVID-19, raising the death toll

Social Affairs Oct. 1, 2021

South Korean stocks opened lower Friday, tracking overnight Wall Street losses that stemmed from concerns of an early inflation. The benchmark Korea Composite Stock Price Index (Kospi) fell 7.19 points, or 0.23 percent, to 3,061.63 points in the first 15 minutes of trading. The key stock index slumped, following rallies by the US long-term Treasury yields, which fanned concerns that the Federal Reserve might hurry to taper its stimulus to reign in the pace of inflation. The Dow Jones Industrial

Market Oct. 1, 2021

South Korea will maintain toughened social distancing rules across the nation for two more weeks, the prime minister said Friday, as the country is bracing for a potential surge in new COVID-19 cases ahead of back-to-back extended weekends. Under the renewed plan that will go into effect Monday, the greater Seoul area will remain under the toughest social distancing of Level 4, while the rest of the country will be under Level 3, Prime Minister Kim Boo-kyum said during an interagency meeting on

Social Affairs Oct. 1, 2021

   Prosecutors investigating a political meddling scandal that possibly involves Yoon Seok-youl, a leading opposition presidential contender, have discovered circumstances on the implication of one of Yoon's former subordinates, informed officials said Thursday.    The scandal is centered on allegations that prosecutor Son Jun-sung asked the main opposition People Power Party (PPP) to file a complaint against three pro-government figures just before the general elections i

Politics Sept. 30, 2021

GM Korea Co., the South Korean unit of General Motors Co., said Thursday that it will suspend one of its three plants for two weeks early next month due to a chip shortage.    GM Korea said it will suspend its No. 1 plant in Incheon, 40 kilometers west of Seoul, which produces the Trailblazer SUV, from Oct. 1-15.    The carmaker has been operating only half of the No. 1 Bupyeong plant this month due to a shortage of chip parts.    The operation of the No. 2 Bup

Mobility Sept. 30, 2021