Deputy Foreign Minister Kim Gunn was appointed as the new South Korean ambassador to Britain in a regular reshuffle on Monday, the foreign ministry said. Kim, a veteran diplomat, has served in posts handling North Korean nuclear issues, North America and China affairs, and his long experience is expected to help him play a role in promoting relations with London, the ministry said.  He was appointed as deputy minister in late 2019. Yeo Seung-bae, former ambassador to New Zealand who pr

Foreign Affairs June 28, 2021

Seoul citizens' economic sentiment rebounded to near pre-COVID-19 levels in the second quarter, a report showed Monday. According to the report by the Seoul Institute, a city-run think tank, a survey of 1,200 households in the capital found that the consumer sentiment index (CSI) rose 3.9 points from the previous quarter to 92.9. This marks the first time Seoul's CSI, which reflects consumers' economic sentiment, surpassed the 90-point threshold since the fourth quarter of 2019, just before th

Economy June 28, 2021

South Korea's exports are expected to surge more than 17 percent on-year to surpass the $600 billion mark in 2021 on the back of the global economic recovery, a report said Monday. The country's overseas shipments are likely to come to $601.7 billion this year, up 17.4 percent from a year earlier, according to the report from the Korea International Trade Association (KITA). It will mark the second time after 2018 that exports of Asia's fourth-largest economy will exceed $600 billion per year.

Economy June 28, 2021

Investment advisory firms in South Korea bounced back to a profit in fiscal 2020 as the local stock market remained bullish, data showed Monday. The 228 investment advisers reported a combined net profit of 242.6 billion won ($215 million) in the fiscal year of 2020, according to the data from the Financial Supervisory Service (FSS). It marks a sharp turnaround from a total net loss of 37.7 billion won recorded the previous year. The financial watchdog attributed the stellar performance to in

Economy June 28, 2021

South Korea is keeping a close eye on whether North Korea dispatches a delegation to Beijing to mark the 100th anniversary of the Chinese ruling party, the unification ministry said Monday. Thursday will mark the 100th anniversary of the establishment of the Chinese Communist Party, while Pyongyang and Beijing are set to celebrate the 60th anniversary of their friendship treaty next month. "The government is keeping a close watch on the situation as several commemorative events are being

North Korea June 28, 2021

INCHEON -- Maritime industry experts and businessmen from home and abroad will gather in the western port of Incheon this week to attend a forum on the industry's future, organizers said Monday. The two-day Incheon International Ocean Forum (IIOF) 2021 is to kick off at Songdo Convensia in Incheon, just 40 kilometers west of Seoul, on Wednesday under the theme of "The World Calls, The Ocean Waves." It will be hosted by the Ministry of Oceans and Fisheries and the Incheon metropolitan

Social Affairs June 28, 2021

BUSAN-- Two illegal sports gambling rings, together worth 900 billion won ($797 million), have been busted, leading to the arrests of 17 suspects, the Busan police agency said Monday. The agency said its cybercrime investigation team has apprehended 38 people and put 17 of them under arrest for having illegally operated sports gambling sites. Seventeen users of the gambling sites were also booked on charges of violating the National Sports Promotion Act, it said. Police are still tracking down

Social Affairs June 28, 2021

Korean Air Co., South Korea's biggest airline, will resume flights to Guam in August as it expects pent-up demand for the tourism spot that welcomes inoculated travelers without a quarantine, company officials said Monday. Korean Air will provide one flight a week on the Incheon-Guam route beginning Aug. 5 following permission from the transport ministry, a company spokesperson said. "The flight schedule can be adjusted depending on the number of vaccinated people and travel demand,"

Industry June 28, 2021

South Korea plans to take part in a large-scale naval exercise that the United States and Australia plan to hold next month, the defense ministry said Monday. The Navy will send a 4,400 ton-class destroyer to the Talisman Sabre exercise set to take place in mid-July in Australian waters. The biennial exercise is the largest bilateral training activity between the U.S. and Australia. "We've decided to join the exercise for the first time this year with a goal to improve our capabilities of

Foreign Affairs June 28, 2021

The South Korean actioner "Hard Hit" topped the local box office over the weekend, recording the biggest opening-weekend score for homegrown movies this year, data showed Monday. The film, released Wednesday, attracted 253,000 people over the Friday-Sunday period, taking the No. 1 spot at the South Korean box office on its first weekend, according to the data by the Korean Film Council. The figure was the largest first weekend admission record set by a South Korean film throughout 20

Film June 28, 2021

South Korea's new 14,500-ton amphibious assault ship will be deployed in October with improved combat capabilities developed with the country's own technologies, the military said Monday. Navy Chief of Staff Adm. Boo Suk-jong presided over a commissioning ceremony for the landing platform helicopter (LPH) ship Marado at the southern port of Jinhae ahead of the planned deployment, according to the military. Named after the country's southernmost island, the Marado is South Korea's second large

Defense June 28, 2021

South Korea's daily new virus cases fell back to the 500s on Monday for the first time in five days on fewer tests over the weekend. But health authorities have been keeping tabs on the trend of new virus infections amid concerns over a steady rise in cases of the highly contagious Delta variant and others ahead of the implementation of eased social distancing measures later this week, The country reported 501 more COVID-19 cases, including 472 local infections, raising the total caseload to

Social Affairs June 28, 2021

They may be leading South Korean baseball as the season nears its halfway point, but the KT Wiz still see room for improvement. And they're hoping veteran outfielder Jared Hoying, who signed with the Wiz over the weekend for his second tour of duty in the Korea Baseball Organization (KBO), can help address multiple issues by himself. The Wiz announced their signing of Hoying, 32, on Saturday. He will make US$400,000 for the rest of the season. Hoying will replace Zoilo Almonte, who batted .27

Baseball June 28, 2021

Samsung Electronics Co. on Monday said it has signed a partnership with the Korea Electric Power Corp. (KEPCO) to develop home energy solutions that can help users reduce electricity costs. Under the deal with the state-run utility firm, Samsung will use KEPCO's electricity data to upgrade its SmartThings Energy service. SmartThings Energy, introduced in May 2019, monitors energy use of Samsung's home appliances connected with its Internet of Things (IoT) platform and analyzes consumers' use p

Industry June 28, 2021

North Korea's official newspaper on Monday warned officials against corruption and urged them to focus on improving people's living standards. The Rodong Sinmun, an organ of the North's ruling Workers' Party, made the appeal in an editorial, calling on officials to wage a struggle to root out "dangerous poisons" in society, such as bureaucracy and corruption. "We must intensify our struggle against all anti-socialist and non-socialist phenomena that infringes upon the interests

North Korea June 28, 2021