Hankook & Co., the holding firm of Korea's largest tire maker Hankook Tire & Technology, announced Friday that it has signed a definitive agreement to acquire a stake in Seoul-based automotive parts supplier Hanon Systems. Under the agreement, Hankook & Company will purchase a 23 percent stake in Hanon Systems from private equity firm Hahn & Co. for approximately 1.23 trillion won, finalizing the deal about six months after the two companies signed a memorandum of understand

South Korean stocks fell for the third consecutive session Friday, led by tech share losses. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) lost 13.79 points, or 0.54 percent, to close at 2,542.36, extending its losing streak from Wednesday. Trading volume was light at 315.1 million shares worth 7.8 trillion won (US$5.66 billion), with decliners beating gainers 599 to 288. Foreigners and institutions dumped a net 38.8 billion won and 188.4

For the first time since 2017, South Korea did not experience a typhoon landfall this summer, a stark contrast to the powerful storms that hit the country in the past two years, the Korea Meteorological Administration said Friday. Typhoon Khanun in 2023 caused floods and forced some 14,000 people to evacuate and Typhoon Hinnamnor in 2022 caused 14 casualties and six injured, as well as 244 billion won ($177 million) in property damages. In contrast, Typhoon Krathon approached South Korea from th

Babymonster on Friday released its first album, “Drip,” featuring a title track composed by G-Dragon. The group's first full-length studio album contains nine tracks, including the two main songs "Drip" and "Clik Clak." “We hope that this album shows how much we’ve grown over a year during which we had diverse experiences, such as going on a fan-meet tour,” said Rami of Babymonster, during a press conference at YG Entertainment's headqu

The chief prosecutor of the Corruption Investigation Office for High-ranking Officials, who was overseeing the Dior bag scandal involving first lady Kim Keon Hee, has expressed an intent to resign, further deepening the leadership vacuum within the organization. Song Chang-jin, one of the chief prosecutors at the CIO submitted his resignation earlier this week for personal reasons, according to the legal community on Friday. If accepted, the resignation will leave the CIO with just two of its se

The academic leave requested by protesting medical students who left classrooms since February to oppose the Korean government's drastic quota hike in medical school admissions will likely be finalized by this month, while some schools are cautious in granting the approval, according to education authorities Friday. The move comes after the Education Ministry on Tuesday decided to allow medical schools the freedom to grant the leave to encourage medical students' return and normalize d

A pop-up store marking the release of the first solo album from Jin of BTS will run in Seoul from Nov. 19 to Dec. 1, said label Big Hit Music Wednesday. The “Running Wild to Happiness” pop-up -- named after both the album, “Happy,” and its main track, “Running Wild” -- will convey the upbeat and positive energy Jin is known for. Visitors will be required to make reservations in advance starting from Nov. 12. Jin will also host a fan showcase in Seoul on Nov. 1

Celebrated star dancers to rekindle their magical connection after 14 years

Samsung Electronics Vice Chairman and co-CEO Han Jong-hee told employees Friday to fully commit to strengthening their key technological leadership to secure uncompromising quality competitiveness. “Without change, neither innovation nor growth is possible," he said during a joint commemorative speech delivered at the tech giant’s 55th anniversary celebration in Suwon, Gyeonggi Province. “Let’s proactively secure technologies that do not yet exist in the world, techn