The CEOs of major foreign insurance firms in Korea have been reappointed as they navigate challenges posed by a slowing market and local competition. Lina Life Insurance, the Korean unit of American insurance group Chubb, recently nominated current CEO and President Cho Jee-eun as the sole candidate for reappointment. Barring any unexpected issues, she is expected to secure her next term at the extraordinary shareholders meeting on Oct. 29. Fubon Hyundai Life’s Lee Jae-won and MetLife Kore

Campbell cites China, Russia as reasons for setting up new system outside UN auspices

South Korean stocks ended lower Wednesday due to losses in tech shares amid concerns over their earnings. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index lost 23.09 points, or 0.88 percent, to close at 2,610.36, ending the two-session winning streak. Trading volume was moderate at 429.5 million shares worth 9.8 trillion won ($7.2 billion), with losers outnumbering gainers 551 to 323. Foreign investors led the daily drop, dumping a net 664.3 b

The short-form thriller “4 minutes 44 seconds” will hit local theaters next month, following the unusual success of the short film “Night Fishing” starring Son Suk-ku in June. As the title suggests, “4 minutes 44 seconds” is an eight-episode horror-thriller with each story lasting 4 minutes and 44 seconds. The short-form film follows residents and visitors of the mysterious Bukchon Apartment, where someone disappears at 4:44 p.m. every day. The movie will ex

A car struck a professional runner in his 20s during a national sports competition in Gimhae, South Gyeongsang Province, police said Wednesday. The runner reportedly suffered a broken left shin and is receiving treatment. According to Gimhae Jungbu Police, the incident occurred at 11:34 a.m. Tuesday on a section of the road closed for a half-marathon event at the 2024 Korean National Sports Festival, the largest annual sports competition in the country. The athlete was running in an inner lane o

The number of patients dying while waiting for an organ transplant has soared, and average wait times are also rising, data showed Tuesday. According to data from the National Institute of Organ, Tissue and Blood Management provided to Rep. Park Hee-seung of the main opposition Democratic Party of Korea, the number of patients who died while on transplant waitlists increased by 1.4-fold, from 2,145 in 2019 to 2,907 last year. In the first half of this year, waitlist deaths had already reached 1,

Shares of Korean chipmakers fell on Wednesday in a bearish market as major chip-related stocks worldwide declined following a gloomy 2025 forecast from semiconductor bellwether ASML. ASML, a Dutch company that makes the world’s most advanced chip-making equipment, reported its booking was half the orders the market expected in its quarterly earnings, and saw its shares plunge 16 percent to close at 668.10 euros ($727) in Amsterdam. Other chip stocks also declined, with Nvidia falling 4.5 p

Hyundai Mobis, an auto parts manufacturer under Hyundai Motor Group, said Thursday that it signed an agreement with the Slovakian government to set up its first manufacturing plant for electric vehicle power systems in Europe. With a 350 billion won ($256.7 million) investment, Hyundai Mobis will construct a plant in the Novaky region of western Slovakia to produce EV drive units consisting of an electric motor, inverter and reducer. Once completed next year, the facility will have the capacity

Conservative bloc's defeat will put Han Dong-hoon’s leadership at stake, critics say

South Korean IT solutions provider LG CNS has emerged as a major initial public offering contender for next year as it began the listing process on the country’s main bourse Kospi earlier this month. Market watchers estimate the firm’s corporate value to reach around 7 trillion won ($5.14 billion), making it Korea's largest IPO since LG Energy Solution in January 2022. For a successful market debut, it will be crucial for the company to add more corporate clients and improve pro

Korea’s two leading auto brands -- Hyundai Motor Company and Kia -- announced Wednesday that they developed the world’s first automatic press die system for all designs. Press dies are used to form a vehicle’s body parts such as the trunk, hood and fender. Depending on the part’s design, automakers usually conduct the press dying process three to five times to manufacture a part while press die designers line up numerous requirements for the production of each part. Accor

Seoul city to invest W170b to support design industry for next 5 years

South Korean steel giant Posco Group announced Wednesday that Chairman Chang In-hwa has joined the executive committee of the World Steel Association. The World Steel Association, consisting of 155 members ranging from global steelmakers to research institutes, aims to enhance profitability in the steel industry. Over the next three years, Chang will work on key issues such as low-carbon technology, the environment and safety. At the WSA executive committee meeting Sunday, leaders of the global

Revision pending to offer heftier tax breaks for semiconductor industry