South Korea's daily new virus cases soared to a nearly six-month high Friday as infections in the greater Seoul area continued to spike amid woes over a potential surge in variant cases. The country reported 826 more COVID-19 cases, including 765 local infections, raising the total caseload to 158,549, the Korea Disease Control and Prevention Agency (KDCA) said. The daily caseload marks the largest since Jan. 7 when it reached 869. The latest figure is sharply up from 762 cases a day earlier

Social Affairs July 2, 2021

South Korean automaker Hyundai Motor Co. said Friday its fleets of Xcient fuel cell trucks have surpassed 1 million kilometers of driving since they hit the roads in Switzerland nearly a year ago. Hyundai Motor has shipped a total of 46 Xcient heavy-duty truck trucks to the European nation since July 2020, which came in service for 25 Swiss companies in logistics, distribution and supermarket fulfillment. Over that distance, the hydrogen-powered trucks, which only emit water, have reduced carb

Mobility July 2, 2021

Hyundai Motor Co. and its affiliate Kia Corp. said Friday their combined sales jumped 44 percent in the United States last month from a year earlier on strong demand for their SUVs. Hyundai and Kia sold 140,951 vehicles in the US in June, up from 98,005 units in the same month of last year, the companies said in separate statements. Hyundai's sales rose 45 percent to 72,465 units last month from 50,135 a year ago, while Kia's also advanced 43 percent to 68,486 from 47,870 during the cited per

Mobility July 2, 2021

WASHINGTON -- The United States hopes for a constructive response from North Korea as it remains willing to engage with the reclusive nation anytime and anywhere, a State Department spokesman said Thursday. The remarks from spokesman Ned Price come after the US special envoy for North Korea, Sung Kim, said his country is ready to meet with the North "anytime, anywhere without preconditions." "Ambassador Kim, our special envoy for the DPRK, has recently been in the Republic of Ko

Foreign Affairs July 2, 2021

South Korean stocks opened slightly higher Friday, taking a cue from Wall Street gains that stemmed from positive economic data. The benchmark Korea Composite Stock Price Index (KOSPI) rose 4.38 points, or 0.13 percent, to trade at 3,286.44 points as of 9:15 a.m. Stocks advanced despite rising concerns over the new coronavirus outbreaks, backed by hopes of a fast global economic rebound. Overnight, the Dow Jones Industrial Average added 0.38 percent on improving manufacturing and jobless da

Market July 2, 2021

Tottenham Hotspur's South Korean star Son Heung-min wasn't selected for his country's Olympic football team despite getting permission from his English Premier League club, an informed source said Thursday. Son, 28, was not picked as an overage player for South Korea's under-24 football team for the Tokyo Olympics on Wednesday. The Olympic football tournament is typically reserved for players under 23, and the age limit has been raised to 24 for Tokyo because the competition was postponed by o

Soccer July 1, 2021

The agriculture ministry on Thursday reached a decision to recommend the dismissal of Kim Woo-nam, head of the Korea Racing Authority (KRA), after wrapping up an audit into alleged verbal abuse. Kim, a former three-term lawmaker of the ruling Democratic Party, is accused of having verbally abused an employee for refusing to hire one of his former National Assembly aides. KRA is a state-run corporation tasked with promoting the country's racehorse industry. According to government sources famil

Social Affairs July 1, 2021

A top financial regulator called Thursday for banks to minimize "unnecessary" household loans as policymakers warn of growing financial imbalances amid a surge in home prices. Eun Sung-soo, chairman of the Financial Services Commission (FSC), made the remarks at a meeting with chief executives of 13 banks earlier in the day. Eun's remarks also came as the Bank of Korea has hinted that it could conduct its first post-pandemic rate hike later this year as the nation's economic recovery

Market July 1, 2021

The current ban on outdoor rallies of 10 or more people in Seoul will remain in place until next week, the metropolitan government said Thursday, scrapping its earlier plan to ease the restrictions at the beginning of this month. Earlier this week, the Seoul city government announced a decision to lift its ban on rallies of 10 or more and allow rallies of fewer than 50 people throughout the capital, effective Thursday, in line with the central government's eased social distancing rules against

Social Affairs July 1, 2021

While preparing his players for the Tokyo Summer Games kicking off this month, Kim Hak-bum, head coach of the South Korean men's Olympic team, ran some grueling conditioning drills across two training camps over the past month or so. Kim wanted to ensure his players would be ready to battle in notoriously scorching and humid summer conditions in Japan. Now that he has finalized his 18-man squad -- many of them having been whipped into shape by the coach -- Kim's focus will shift to more tangibl

Olympic Games July 1, 2021

The state-run Export-Import Bank of Korea (Eximbank) said Thursday it will provide 180 trillion won (US$159 billion) worth of loans related to environmental, social and governance (ESG) by 2030. The state lender made the pledge while announcing its ESG management road map to mark the 45th anniversary of its foundation at its headquarters in Seoul. The road map also includes the issuance of ESG bonds worth $20 billion by that year to extend loans to the ESG sector, Eximbank said. ESG bonds ref

Economy July 1, 2021

South Korean mobile users on 5G networks reached nearly 16 million in May, data showed Thursday, as telecom operators seek to expand applications of the next generation networks. As of the end of May, 5G subscriptions stood at 15.84 million, accounting for 22 percent of the total 71.45 million mobile subscriptions in the country, according to the data from the Ministry of Science and ICT. South Korea has a population of around 51 million. Top mobile carrier SK Telecom Co. had the most 5G subsc

Technology July 1, 2021

Yoon Seok-youl, a former top prosecutor and leading presidential hopeful, has said he may join the main opposition People Power Party (PPP) if it is deemed necessary for the opposition block's win in next year's presidential election. "It is possible (for me) to ally with the PPP, and even enter the party if necessary for a change of government," Yoon said during a TV interview Wednesday. Lacking powerful presidential contenders, the conservative party has urged the former prosecutor

Politics July 1, 2021

The men's football roster at this year's Tokyo Olympics will be expanded from 18 players to 22, the sport's national governing body said Thursday. The Korea Football Association (KFA) said it received a notification from FIFA late Wednesday announcing the expansion of the squad for the July 23-Aug. 8 Olympics. Teams were originally limited to 18 players, with up to four alternates allowed in case of injuries. Under the change, the four alternates will be part of the full squad, but teams can o

Olympic Games July 1, 2021

South Korea's largest labor group said Thursday it will push ahead with a large-scale rally in Seoul this weekend in disregard of a ban issued by police and the metropolitan government. The Korean Confederation of Trade Unions (KCTU), a militant labor umbrella group with about 1 million members, said it will organize the National Workers Rally in Yeouido on Saturday as scheduled, despite objections raised by police and the Seoul city government due to fears over the spread of COVID-19. The KCT

Social Affairs July 1, 2021