Party organ urges strengthening youth indoctrination in a special article

Annual sales reach 929 billion won; operating profits record 474 billion won

SEJONG -- The average yearly wage for foreign workers in South Korea is estimated to have surpassed 30 million won ($25,000) for the first time in 2021, state data showed. The prediction is based on the year-end tax adjustments of foreign employees for their earnings in 2020 and 2019. According to the National Tax Service, about 545,000 foreign employees in the nation carried out year-end tax adjustments for their earnings in 2020. Their average wage posted 29.26 million won per annum, with th

L’Oreal Korea said Monday it will launch an at-home device that creates customized lip tint colors, to serve the growing needs of personalization in the beauty market. The newly launched product, Yves Saint Laurent Rouge Sur Mesure, delivers thousands of color schemes using its four-ingredient cartridges -- red, nude, orange and pink. Customers can play with the palette using a mobile application to design their own shade of the day, it said. The device also offers color recommendations

It will be difficult to find big-budget Korean films in the coming month or so as many of them have delayed their opening dates. No films with a budget of more than 10 billion won will open before April, as they delayed their release dates. This is partially due to a surge of COVID-19 cases here. The number of moviegoers hit a new low over the Seollal holiday, usually one of the busiest times of the year for movie theaters in Korea. According to the Korean Film Council’s data, during

Kia, South Korea’s second-largest automaker, will launch six electric vehicle models by 2027 in China by renewing its joint venture in the country, where it has been losing presence in recent years over soured bilateral ties between Seoul and Beijing. Starting with the EV6 next year, Kia will bring new battery-powered vehicles each year and realign its strategic models with bigger vehicles that are more globally popular such as the Carnival and Sportage. The new China plan was released

South Korean stocks ended their three-day winning streak on Monday, largely as investors attempted to cash in profits from recent stock rallies. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 5.2 points, or 0.19 percent, to close at 2,745.06 points. Trading volume was moderate at about 410 million shares worth some 11.1 trillion won ($9.2 billion), with gainers outnumbering losers 467 to 385. Institutions sold a net 834 billion

Korean investors are pulling out money from their investment accounts to reallocate it to safer options such as money market funds as they seek to ride out volatility gripping the local stock market, data showed Sunday. As of Thursday, credit-backed loans for stock investments stood at 21 trillion won ($17.5 billion), down about 4 trillion won from a record high of 25 trillion won in September last year. Since then, the deposit borrowed from brokerages on investors’ credit has been shri

The nation’s top chaebol leaders saw their stock assets fall sharply in January, as the nation’s benchmark Kospi entered a bear market, while some firms grappling with controversies also took a beating. The total value of stocks owned by the nation’s top 33 chaebol owners was estimated at 55.43 trillion won ($46.19 billion) in January, down 13.8 percent from a month ago, according to data from market tracker Korea CXO Institute Monday. Hyundai Development Co. Chairman Chung

LG Energy Solution was the most renewable company in South Korea in 2020, a report showed Monday. According to a report published by Carbon Disclosure Project, an environmental non-government organization, LG Energy Solution transitioned to renewable energy 33 percent, the highest figure among Korean firms participating in the Renewable Energy 100 initiative. Renewable Energy 100, or RE100, is a global initiative to shift 100 percent to renewable energy by 2050. The campaign is led by The Cl

Lotte Chemical will inject more than 602 billion won ($502.3 million) to produce raw materials for electric vehicle batteries and build new facilities for carbon capture and liquefaction on a 67,000-square-meter site inside a petrochemical complex in Daesan, South Chungcheong Province. The chemical unit of Lotte Group will use the fund to manufacture high-purity ethylene carbonate and dimethyl carbonate. The two are raw materials of electrolytes, one of the four key components of EV batteries.

As the omicron variant spreads rapidly in South Korea, related figures have also hit fresh highs, according to the Korea Disease Control and Prevention Agency, Monday. As of midnight Sunday, the percentage of tests that were positive out of all tests administered in the country reached 26 percent, up 5.2 percentage points from the previous day’s 20.8 percent. This means that 1 out of 4 people who received a PCR test got a positive result for COVID-19. The figure has been increasing r