Insurance firms in South Korea saw their risk-based capital ratio rise in the second quarter of this year as they strengthened capital, data showed Thursday. The risk-based capital (RBC) ratio of local insurance firms stood at 260.9 percent at end-June, up 5 percentage points from three months earlier, according to the data from the Financial Supervisory Service (FSS). The rise in the RBC ratio came as insurers boosted capital and reported modest profits, according to the FSS. A key yardstick

Economy Sept. 23, 2021

Netflix's original Korean series "Squid Game" ranked first on the US top 10 TV show list of the video streaming platform, a chart has showed, becoming the first Korean drama to reach the milestone. The thriller, featuring South Korean actor Lee Jung-jae, made it to the top on the US chart, as of Tuesday, according to streaming analytics firm FlixPatrol. The previous record was "Sweet Home," the 10-episode Netflix Korean original that ranked third on the US chart last year.

Film Sept. 22, 2021

The video featuring K-pop sensations BTS performing "Permission to Dance," one of their hit singles, at the United Nations headquarters has exceeded 12 million views on YouTube, becoming the most viewed clip on the UN channel. The video that was uploaded at the UN's official YouTube channel Monday has racked up 12.7 million views as of 8:00 p.m. Wednesday. South Korean superband BTS addressed the UN General Assembly Monday and praised the world's young people for welcoming the challe

K-pop Sept. 22, 2021

South Korea's top financial regulator on Wednesday called for strengthening the monitoring of financial markets on concerns about a potential default by debt-laden property developer China Evergrande Group. Global financial markets were rattled this week over concerns that Evergrande may default on its debt. The debt-stricken developer said Wednesday it has agreed to a deal with local bondholders to settle interest payments, which helped ease fears about an imminent possible default by the grou

Market Sept. 22, 2021

South Korean President Moon Jae-in flew to Honolulu, Hawaii, Tuesday following a two-night stay in New York, during which he attended an annual session of the UN General Assembly. Moon is scheduled to join an alliance ceremony here Wednesday to transfer the remains of Korean and American troops killed during the 1950-53 Korean War. It would be the first time for a South Korean president to attend such a remains repatriation ceremony held abroad, according to Cheong Wa Dae. Moon will also award

Foreign Affairs Sept. 22, 2021

Yoon Seok-youl, the leading opposition presidential contender, said Wednesday he will demand the United States redeploy its tactical nuclear weapons here and have nuclear sharing with South Korea if national security is threatened by North Korea's nukes and missiles. Unveiling 11 election pledges on diplomacy and security issues, former Prosecutor-General Yoon said he will make efforts to strengthen the Seoul-Washington alliance to deter the North's evolving nuclear and missile capabilities. Y

Politics Sept. 22, 2021

Most highways and roads remained clogged with heavy traffic early Wednesday, as people were traveling back to Seoul on the last day of the Chuseok holiday. Major highways, running through the central part and along the western coast of the country, were jammed with vehicles, with the road congestion likely to peak at about 4-5 p.m., according to Korea Expressway Corp. As of 9 a.m., the estimated travel time to Seoul was 5 hours and 20 minutes from the southern port city of Busan, about 4 hours

Social Affairs Sept. 22, 2021

Hyundai Motor Co. and its affiliate Kia Corp.'s environment friendly vehicle sales in the United States more than doubled in August compared with a year ago, led by solid demand for their hybrid sport utility vehicles, industry data showed Wednesday. Hyundai and Kia sold a combined 8,312 eco-friendly cars in the US in August, a 124.4 percent jump from a year earlier, according to their data. Hyundai's eco-friendly car sales soared 245.4 percent on-year to 5,817 units in August, far surpassing

Industry Sept. 22, 2021

South Korea is planning to spend about 23.2 billion won ($19.5 million) in next year's official development assistance (ODA) projects for war-torn Afghanistan, a document showed Wednesday. The Office for Government Policy Coordination under the Prime Minister's Office said in the document submitted to Rep. Tae Young-ho of the main opposition People Power Party that its committee handling the development aid has reached the decision on the 2022 ODA budget for Kabul, according to Tae's office.

Foreign Affairs Sept. 22, 2021

South Korea's airlines have drastically reduced their aircraft fleets over the past two years as demand for air travel dried up due to the prolonged COVID-19 pandemic, industry data showed Wednesday. The total number of aircraft operated by the nation's 10 carriers currently stands at 372, down from 414 in 2019, according to the data compiled by the transport ministry. Korean Air Lines Co., the country's leading full-service carrier, operates 159 planes, down from 170 in 2019, and its smalle

Industry Sept. 22, 2021

INCHEON -- South Korea has imported twice as many cats and dogs this year compared with two years ago as people spend more time at home amid the protracted COVID-19 pandemic, customs data showed Wednesday. According to the data by the regional customs office in Incheon, a main gateway for trade located about 40 kilometers west of Seoul, the number of cats and dogs brought in to the country via air carriers reached 10,241 in the January-August period this year, including 7,961 canines and 2,280

Social Affairs Sept. 22, 2021

NEW YORK -- South Korea's first lady Kim Jung-sook met with young Korean Americans working in art and culture fields in New York on Tuesday (local time) to discuss the future of Korean popular culture. The meeting took place at Korean Culture Center New York while she was visiting the city this week with President Moon Jae-in, who attended the UN General Assembly. Brian Jon, the founder of the Asian American Youth Council (AAYC) who is known for his campaign that led to the first designation

Politics Sept. 22, 2021

South Korea's daily coronavirus cases stayed in the 1,700s for the second consecutive day on Wednesday despite fewer tests during an extended Chuseok holiday, raising concerns over a spike in new infections across the nation after the holiday. The country reported 1,720 new COVID-19 cases, including 1,703 local infections, raising the total caseload to 290,983, according to the Korea Disease Control and Prevention Agency (KDCA). The latest caseload was slightly down from 1,729 on Tuesday, but

Social Affairs Sept. 22, 2021

US President Joe Biden said Tuesday that his country seeks to completely denuclearize the Korean Peninsula through diplomacy. The US president made the remark shortly after he said the US will return to full compliance of the nuclear deal with Iran should the Middle Eastern country chooses to do so. "Similarly, we seek serious and sustained diplomacy to pursue the complete denuclearization of the Korean Peninsula," Biden said while delivering his first in-person remarks at the U.N. G

Foreign Affairs Sept. 22, 2021

Cytiva, a US producer of vaccine materials, has decided to invest $52.5 million in South Korea for two years beginning next year, Cheong Wa Dae said Tuesday. The announcement came at a ceremony in New York, attended by President Moon Jae-in, on partnerships between South Korea and the US, it added. Cytiva, which provides technologies to advance the development and manufacturing of therapeutics, has already submitted a report to South Korea's Ministry of Trade, Industry and Energy for its plan

Foreign Affairs Sept. 22, 2021