Genesis, the luxury brand of Hyundai Motor Co., on Thursday unveiled the GV60, its first electric car built on a dedicated EV platform, ahead of its local launch later this year. The GV60 SUV is equipped with a 77.4 kilowatt-hour battery and can travel up to 451 kilometers on a charge, Hyundai said in a statement. The GV60 has three available options: rear-wheel drive, four-wheel drive and four-wheel performance version. It is priced at 60 million won to 70 million won ($50,000-$60,000). Hyundai

Business Sept. 30, 2021

The Air Force was to launch a space center under the direct control of its chief of staff Thursday as part of efforts to expand its presence in space and strengthen defense capabilities against emerging threats, the military said. A signboard hanging ceremony was to be held at the Air Force headquarters in the central city of Gyeryong, presided over by Air Force Chief of Staff Gen. Park In-ho, according to the military. The new organization will be in charge of exchanges with other space unit

Defense Sept. 30, 2021

The top nuclear envoys of South Korea and the United States were set to meet in Jakarta on Thursday to discuss joint efforts to resume dialogue with North Korea, after its leader Kim Jong-un voiced a willingness to restore inter-Korean communication lines following tensions over recent missile tests. The talks between Seoul's chief nuclear envoy, Noh Kyu-duk, and his US counterpart, Sung Kim, come as Seoul and Washington are strategizing on humanitarian aid, confidence-building measures and ot

Foreign Affairs Sept. 30, 2021

WASHINGTON -- The United States has no hostile policy and is ready to meet with North Korea without preconditions, a State Department spokesman said Wednesday, after North Korean leader Kim Jong-un said the US offer to engage with the North is a disguise for its hostility. "The United States harbors no hostile intent toward the DPRK. Our policy calls for a calibrated, practical approach that is open to and will explore diplomacy with the DPRK to make tangible progress that increases the s

Foreign Affairs Sept. 30, 2021

South Korea will continue to cooperate with the new Japanese government under the leadership of Fumio Kishida, the foreign ministry said Wednesday, following his win in the party election set to make him the next prime minister. "The government intends to continue to cooperate with the newly launched Japanese Cabinet to develop the bilateral relations between South Korea and Japan in a future-oriented manner," the ministry said. Kishida won the leadership election of the ruling Li

Foreign Affairs Sept. 29, 2021

North Korea's latest missile launches will not affect the US' determination to seek diplomacy with the North for the denuclearization of the Korean Peninsula, the US nuclear envoy for Pyongyang said Wednesday.  Sung Kim, US special representative for North Korea, made the remark at a press event in Jakarta, a day after the North test-fired a hypersonic missile into the East Sea. The firing came after the regime's test-firings of two short-range missiles on Sept. 15 and a new type of cruis

North Korea Sept. 29, 2021

South Korean stocks slumped for second straight day to lose more than 1 percent Wednesday morning amid concerns about spiking bond yields and the US debt ceiling. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) dipped 37.65 points, or 1.22 percent, to close at 3,060.27 points. Trading volume was moderate at about 812 million shares worth some 15 trillion won ($12.7 billion), with losers outnumbering gainers 676 to 215. Foreigners sold a net 659

Market Sept. 29, 2021

South Korea has reported nearly 8,000 coronavirus infections involving people who tested positive for COVID-19 after being fully vaccinated, health authorities said Wednesday. Out of more than 17.75 million people who have received the full-dose vaccine regimen, there were 7,772 breakthrough cases, the Korea Disease Control and Prevention Agency (KDCA) said. Since its nationwide inoculation campaign began in late February, a total of 38.76 million people, or 75.5 percent of the country's populat

Social Affairs Sept. 29, 2021

South Korea's monetary policy is considered still loose although the Bank of Korea delivered its first pandemic-era rate hike in August, a member of the BOK's rate-setting board said Wednesday. The remarks by Suh Young-kyung are expected to reinforce market expectations that the central bank may again raise its key rate later this year or early next year. "In spite of a hike in the key rate in August, the current monetary policy is still loose," Suh told a forum in Seoul. The BOK must

Economy Sept. 29, 2021

Declaring an end to the Korean War could be a "very useful" and "meaningful" step that builds mutual trust between the two Koreas, and would pave the way for peace and cooperation on the Korean Peninsula, Unification Minister Lee In-young said Wednesday. During a press meeting held just before embarking on an overseas trip to Germany, Belgium and Sweden, Lee urged North Korea to come out for dialogue to discuss denuclearization, inter-Korean relations and other cross-border i

North Korea Sept. 29, 2021

The number of babies born in South Korea dropped to a record low in July, data showed Wednesday, in the latest sign that underscores the country's gloomy demographic situation with the chronically low birth rate. A total of 22,352 babies were born in July, down 2.8 percent from the previous year, according to the data compiled by Statistics Korea. In the first seven months of this year, the number of newborns reached an all-time low of 159,269, down 3.4 percent from the previous year. South Kore

Social Affairs Sept. 29, 2021

South Korea's terms of trade fell for the fifth consecutive month in August due to a rise in prices of imported goods, central bank data showed Wednesday. The nation's net terms-of-trade index for goods -- a gauge of overall trade terms -- declined 5 percent last month from a year earlier, according to preliminary data from the Bank of Korea (BOK). The figure is calculated by dividing the index for export prices by that for import prices. It shows the amount of imports a country can buy for each

Economy Sept. 29, 2021

People aged 65 and older made up 16.5 percent of South Korea's population this year, a report showed Wednesday, highlighting concerns that the fast-aging demographic transition could pose a drag on the country's economy. According to the report by Statistics Korea, the number of people aged 65 and older stood at 8.53 million this year. The South Korean population is projected to peak in 2028 before going on a downward curve, the report showed. However, the graying of South Korea will accelerate,

Social Affairs Sept. 29, 2021

LG Electronics Inc. is likely to report solid third-quarter earnings, analysts said Wednesday, as its mainstay home appliance business is expected to offset a slump from vehicle components and B2B units. The South Korean tech giant was projected to log a record 18.3 trillion won ($15.4 billion) in sales in the July-September period, up 8.2 percent from a year earlier, on a consolidated basis, while its operating profit was estimated to jump 16.9 percent on-year to 1.1 trillion won over the perio

Industry Sept. 29, 2021

The government on Wednesday started assimilation programs for Afghan evacuees who settled in South Korea in August upon fleeing their country after it was taken over by the Taliban. Various programs, offered by relevant ministries, are aimed at helping them learn the language, get familiar with the culture and more easily assimilate into Korean society. The Ministry of Justice runs the Korea Immigration and Integration Program (KIIP) with a goal to teach them Korean culture and language, along w

Social Affairs Sept. 29, 2021