South Korea plans to unveil additional measures next month to curb household debts, the head of the financial regulator said Monday. Financial Services Commission (FSC) Chairman Koh Seung-beom said such measures will focus on improving ways of calculating a household's ability to repay debts. Koh said the government will continue to take stricter measures to rein in household debts, calling such debts the "biggest potential risk" on the nation's economy. Since July, the FSC has a

Economy Sept. 27, 2021

North Korea is set to convene a session of its rubber-stamp legislature this week, drawing attention to whether any message to South Korea would come out of the meeting after the sister of leader Kim Jong-un expressed a willingness to improve inter-Korean relations. State media earlier reported a session of the Supreme People's Assembly (SPA) will be held Tuesday to discuss adopting laws on youth education and modifications to the national economic plan, as well as adopting the law on developing

North Korea Sept. 27, 2021

Men have taken up more than 20 percent of admissions for nursing universities in South Korea for the first time this year, data showed Monday. According to Jongro Academy, one of the country's leading educational institutions for college admissions, 2,249 male students entered nursing universities in 2021, accounting for 20.5 percent of the total 10,993. The tally was up by 161, or 7.7 percent, compared to 2,088 enrollments last year. This marked the first time the proportion of male admissions

Social Affairs Sept. 27, 2021

South Korea's daily coronavirus cases remained in the 2000s for a second day Monday amid concerns the daily caseload may sharply increase as more people get tested after the extended holiday. The country reported 2,383 new COVID-19 cases, including 2,356 local infections, bringing the total caseload to 303,553, according to the Korea Disease Control and Prevention Agency (KDCA). The daily caseload touched a fresh high of 3,272 on Saturday before slightly falling to 2,771 on Sunday. But health au

Social Affairs Sept. 27, 2021

Hyundai Motor Co. said Monday it has restarted production at a local plant on the resumed supply of electronic components. Hyundai Motor halted the Asan plant from Sept. 15-17 due to a lack of chip parts, resulting in production losses of 3,000 vehicles, the company said in a regulatory filing. The 300,000-unit-a-year Asan plant produces the Sonata sedan and the Santa Fe SUV. Previously, the Asan plant suspended operations on Sept. 9 and 10 due to the parts problems and from July 13 to Aug.

Industry Sept. 27, 2021

South Korean stocks opened nearly flat Monday as investors took a wait-and-see mode amid the country's spiking new coronavirus cases and concerns over China Evergrande Group's debt crisis. The benchmark Korea Composite Stock Price Index (KOSPI) slipped 0.23 points, or 0.01 percent, to 3,125.01 points in the first 15 minutes of trading. Stocks got off to a muted start amid spikes in South Korea's daily COVID-19 cases. On Monday, South Korea reported 2,383 new COVID-19 cases. Daily cases have

Market Sept. 27, 2021

Veteran Choi Kyoung-ju has won a PGA Tour Champions tournament, becoming the first Korean golfer to win a men's professional senior golf tour event. Choi, affectionately known as K.J. Choi, shot a final round of 68, with five birdies and one bogey, for a total of 13-under 203 at the PGA TOUR Champions PURE Insurance Championship held at Pebble Beach Golf Links in Pebble Beach, California, on Sunday (US time). It is the first victory for a Korean golfer at the PGA Tour Champions, formerly known a

Golf Sept. 27, 2021

South Korea said Monday it plans to increase support for overseas expansion by startups and smaller firms as part of efforts to strengthen its ties with Southeastern Asian countries and nations in Eurasia. The government plans to further promote economic cooperation with the 10-member states of the Association of Southeast Asian Nations (ASEAN) and Europe based on the outcome of summit diplomacy with such nations, according to the Ministry of Economy and Finance. The country will pursue cooper

Economy Sept. 27, 2021

South Korea and the United States were to begin two days of biannual defense talks in Seoul on Monday to discuss regional security situations and pending alliance issues, the defense ministry said. During the 20th Korea-US Integrated Defense Dialogue (KIDD), the two sides plan to discuss "major pending security issues," such as the assessment of the security situation on the Korean Peninsula and the policy coordination on North Korea, according to the ministry. The meeting comes two da

Defense Sept. 27, 2021

The number of 5G network base stations in South Korea accounted for just 11 percent of the total in the second quarter, data showed Monday, amid continued user complaints against the latest generation networks. As of the April-June period, there were 162,099 5G base stations in the country, compared with a total of 1.47 million mobile network base stations, according to data from the Korea Communications Agency. The number of 5G base stations was far outnumbered by around 1 million 4G base sta

Technology Sept. 27, 2021

Nearly 2,400 foreigners are engaging in the home rental business in South Korea, with Chinese nationals accounting for more than one-third of the total, government data showed Monday. The number of foreign home rental business operators in Asia's fourth-largest economy stood at 2,394 as of the end of June last year, according to the data from the land ministry. There were 885 Chinese housing rental business owners here, taking up 37 percent of the total. Americans came next with 702, followed

Economy Sept. 27, 2021

Dividend payouts by South Korean listed companies jumped nearly 24 percent in the first half of the year amid their strong earnings, a corporate tracker said Monday. The combined amount of dividends paid out by 140 firms, including top-cap Samsung Electronics Co., came to 9.3 trillion won ($7.9 billion) in the January-June period, up 23.5 percent from a year earlier, according to Leaders Index. The firms cover those that have announced dividends out of the country's 2,323 listed corporations.

Economy Sept. 27, 2021

  Kwon Soon-woo claimed his maiden ATP Tour title at the Astana Open on Sunday, becoming the first South Korean champion on the world's top tennis circuit in more than 18 years. Kwon, world No. 82, defeated the 65th-ranked James Duckworth in straight sets, 7-6 (8-6), 6-3 in Nur-Sultan. The last Korean to take an ATP title is the retired Lee Hyung-taik from January 2003. Kwon and Lee are now the only two South Koreans to win a regular ATP Tour event. "I am just really, really happy

More Sports Sept. 26, 2021

  A lawmaker of the People Power Party (PPP) offered Sunday to leave the main opposition party amid mounting criticism over his son receiving a massive severance pay from a firm at the center of a controversial land development scandal. Rep. Kwak Sang-do submitted to a regional party chapter a document to end membership with the party, Rep. Kim Gi-hyeon, the party's floor leader, said, as his political opponents ramped up an offensive against Kwak over the severance pay. His son reporte

Politics Sept. 26, 2021

South Korea will begin administering booster shots for high-risk people, including those aged 60 and older, and medical workers, in the near future, the prime minister said Sunday, amid a surge in new COVID-19 cases following a national holiday. Kim Boo-kyum also noted the Korea Disease Control and Prevention Agency (KDCA) will announce a fourth-quarter inoculation plan, including the booster shot program, Monday. Kim also said starting early next month, the government will shorten the interval

National Sept. 26, 2021