The Korea Exchange said Thursday that it has put Osstem Implant under review to determine whether to delist the company amid a probe into a massive embezzlement scandal.  A review committee will convene a meeting in March to make a decision on whether to allow the implant maker to continue trading or grant it a one-year grace period. Listed companies are suspended from trading and face delisting if they report embezzlement exceeding 5 percent of their equity. Osstem Implant was

Five years after a blacklist of cultural figures drawn up by previous administrations was first revealed, efforts to recover from the scandal and prevent a repeat are still ongoing, the minister of culture, sports and tourism said on Thursday. Culture Minister Hwang Hee named a legislation that guarantees status and rights of artists, which is expected to take effect in September, as the biggest accomplishment. Out of the 85 subtasks that had been set, 62 have been completed while the rest ar

The number of critically ill patients in Korea rose to 389 on daily figures released Thursday, up 76 from the previous day. COVID-19 cases reported during the 24 hours of Wednesday increased to hit another high of over 93,000, health authorities said. The Korea Disease Control and Prevention Agency said Thursday that the country’s daily COVID-19 cases reached a fresh high of 93,135, which raised the total caseload to 1,645,978. The figure was up from the previous day’s 90,443. Th

A North Korean defector sponsored by a South Korean company received a doctoral degree in international relations from a US university. Kim Seong-ryeol, a 37-year-old from Chongjin, North Korea, made three failed attempts to flee North Korea with his family by crossing the Tumen River to China since 1997, and was subsequently jailed. Kim finally fled the North in 2004, and settled in South Korea with his family. Having dropped out of middle school in North Korea, Kim completed the South Korean

From ‘manspreading’ to putting his feet on a train seat, conservative frontrunner under fire again for self-righteous, stubborn old guard image

Dutch pension fund APG said Thursday it has urged Samsung Electronics Co. and nine other South Korean companies that it has invested in to intensify efforts to reduce carbon emissions. APG, the largest pension fund in the Netherlands, said it has sent a letter to major companies, including Samsung Electronics, SK hynix Inc. and LG Chem Ltd., urging them to conduct "ambitious climate and carbon reduction strategies and commitments." The pension fund called on them "to evaluate thei

The official campaigning period for the upcoming presidential election kicked off Tuesday, with most candidates heading to traditional markets on the first day. One of the pledges made at these stumps over the past several elections has been revitalization of traditional markets, a pledge clearly aimed at the merchants. Before the onslaught of mass retailers, traditional markets were crowded day and night, humming with vibrant energy. Today, many neighborhood taditional markets struggle to su

South Korean stocks advanced for a second straight session Thursday, as the US Federal Reserve's January minutes largely remained within the market expectations. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) increased 14.41 points, or 0.53 percent, to close at 2,744.09 points. Trading volume was moderate at about 602 million shares worth some 11.7 trillion won ($9.8 billion), with gainers outnumbering losers 464 to 372. Foreigners bought a

Tech giant bolsters responsiveness to policy changes in the US, especially on supply chain issues

Coway posted 945.9 billion won ($789 million) of sales in the fourth quarter of 2021 with an operating income of 139.2 billion won, the company said Thursday. The firm also logged 3.66 trillion won in 2021 sales, logging a 13.2 percent growth year-on-year. Operating income was 640.2 billion won and net income 465.5 billion won, each up 5.6 percent and 15 percent.　 The company‘s global outposts saw a yearly revenue of 1.21 trillion won last year and 301.6 billion won in the fourth quarter

Lee blames Japan; Yoon points at Moon for conflicts with Japan

Science Minister, CEOs of 3 telcos fail to settle differences

Korea attracted $29.5b in investments, the largest ever, last year

Oriental Brewery (OB), Korea’s largest beer maker, won the grand prize at the 2021 Korea Brand Awards for its marketing strategy that added sentimental elements to soothe customers hit by the pandemic. The award, overseen by the Korean Marketing Association, recognizes companies that put “consumer value” at the forefront of brand management. The key to OB’s marketing strategy was “clicking with” consumers, stressed the beer manufacturer. While beer advertisem