Seoul Record Fair (SRF), which was launched as the first vinyl record selling event in Korea a decade ago, is set to return this week despite the prolonged COVID-19 pandemic after a nearly two-year haitus, the SRF committee and fair’s operator Roundx2 announced on Wednesday. Although the fair will go offline, showcasing performances and selling records and music-related products, it is scheduled for one day only on Saturday this year due to the government’s strengthened COVID-19 mea

SEJONG -- Deputy Prime Minister and Finance Minister Hong Nam-ki raised the possibility that the housing market could be swayed by pledges of presidential candidates, and suggested he would try to block any speculative actions in particular regions via close monitoring. During a meeting of ministers in charge of real estate policies on Wednesday, Hong said there are symptoms that “home prices in some regions have been affected by pledges over large-scale development during the presidentia

The US has called for a new UN Security Council meeting to discuss North Korea’s fourth missile launch this month, as Washington seeks to ratchet up pressure on the reclusive regime to curb its prohibited weapons program.   Closed-door consultations of the UN’s most powerful body are expected to take place on Thursday, at the request of the US, along with the UK, France, Albania, Ireland and Mexico, according to Agence France-Presse. 　 “We will continue to ramp up the pre

After six years of restoration beginning in 2016, “Irworobongdo,” a Korean folding screen with a landscape of a sun and a moon painted in the mid 19th century has been completed to return it to its original form, the Cultural Heritage Administration announced Wednesday. “Irworobongdo,” meaning “Painting of the Sun, Moon and Five Peaks,” is a spectacular panel that was placed behind Eojwa, the king’s royal throne, to display the majesty of the Joseon roy

South Korean President Moon Jae-in and Saudi Arabia’s de facto ruler Crown Prince Mohammed bin Salman held a meeting in Riyadh Tuesday to bolster ties between the two countries beyond construction and infrastructure into more future-oriented fields such as hydrogen. During the talks, the two leaders agreed to build a hydrogen ecosystem where Saudi Arabia supplies carbon-neutral hydrogen and ammonia while South Korea helps the Arab nation operate hydrogen-powered cars and hydrogen facilit

In the face of the Saudi Arabian government’s pledge to attract foreign companies to relocate their regional headquarters to its capital city of Riyadh, LG Electronics is being pressured to move on par with other multinational companies. According to LG Electronics and news reports, the tech company, dedicated to manufacturing TVs, monitors, laptops and home appliances, is considering establishing regional headquarters that oversees its operation in the Middle East and Africa, covering s

The minor opposition People’s Party presidential candidate Ahn Cheol-soo on Wednesday filed an injunction to stop the airing of the TV debate between presidential candidates of the Democratic Party of Korea and People Power Party, protesting the decision to exclude him. On Wednesday, Lee Tae-kyu, the head of the election committee at People’s Party, filed an injunction in Ahn’s name at the Seoul Western District Court to suspend three terrestrial TV stations KBS, MBC and SBS

Lee made apology over Kim’s remarks, causing a stir in the party

The South Korean government said on Wednesday it will invest 402.7 billion won ($337.4 million) in the development of processing-in-memory (PIM) chips, in addition to the 1 trillion won it pledged earlier to spend on artificial intelligence semiconductors over nine years to 2029. PIM semiconductors are known as next-generation AI chips with higher processing efficiency. The Ministry of Science and ICT said it discussed ways to advance the AI industry with AI experts from Samsung Electronics, L

Heavy show fell in Seoul, Gyeonggi and Gangwon provinces on Wednesday, prompting authorities to issue alerts over potential traffic disturbances and frozen roads. According to the Korea Meteorological Administration, Seoul received 3.5 centimeters of snow while Gangwon Province‘s Seoraksan and the southeastern Ulleung Island saw heavy snow of 18.5 centimeters and 19.5 centimeters, respectively, as of 2 p.m. The weather agency lifted a heavy snow alert, which indicates that snow of at le

The number of fake South Korean banknotes touched a record low in 2021 due largely to the coronavirus pandemic, the central bank said Wednesday. The number of counterfeit banknotes found in Asia's fourth-largest economy stood at 176 last year, down 96 from a year earlier, according to the Bank of Korea (BOK). It marked the lowest tally since the BOK began releasing such data in 1998. The number of fake bills has renewed record lows for four years running. The drop was mainly due to a decline

National Assembly Speaker Park Byeong-seug will visit Sri Lanka this week for talks on expanding cooperation in mineral resources, his office said Wednesday. Park will depart Wednesday and meet with his Sri Lankan counterpart Mahinda Abeywardena, as well as the country's President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa during the four-day trip. The two sides are expected to discuss potential agreements on securing Sri Lanka's rare minerals, preventing double taxation, aviation

Ruling party presidential candidate Lee Jae-myung said Wednesday he will institutionally recognize the virtual asset industry and guarantee various business opportunities. Lee of the Democratic Party made the remarks in a meeting with heads of the nation's four major cryptocurrency exchanges and industry experts in Seoul, apparently targeting voters in their 20s and 30s who have a relatively strong interest in virtual asset investments. Lee said he will prepare objective listing standards and

Main opposition presidential candidate Yoon Suk-yeol pledged Wednesday to ease the tax burden on profits from cryptocurrency investments by raising the threshold from the current 2.5 million won ($2,097) to 50 million won. Yoon of the conservative People Power Party announced the pledge at the party's headquarters, saying he will raise the bottom limit to the same level as stocks and give tax exemptions for returns of up to 50 million won. The candidate also said he will introduce a digital as