Incheon International Airport Corp. is getting one step closer to host a branch of a world renowned museum at the airport as it is set to launch a feasibility reseach about the project in February. The airport has pushed for the plan to accomodate a global museum at the largest airport in the country, such as Louvre Museum and Musee d’Orsay as early as 2024. After failing a bidding in September to commission the research, the airport put up the second tender in December, which was made t

Jeonju International Film Festival’s organizing committee announced that the annual film fest will be held for 10 days from April 28 in Jeonju, North Jeolla Province. The 23rd Jeonju IFF committee also added that it is hoping to return nearly to how it previously operated the international film festival before the pandemic. There will be 18 sections and 230 films will be screened during the festival, which shows the committee’s determination to host an event just how it was before

South Korean stocks dropped to their lowest in almost seven weeks on Monday as investors dumped holdings on concerns about mounting inflationary pressure. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) slid 31.82 points, or 1.09 percent, to close at 2,890.1 points. The reading marked the lowest closing since Nov. 30. Trading volume was moderate at about 571 million shares worth some 9.8 trillion won ($8.2 billion), with losers outnumbering g

Complaints have been mounting among owners of cafes and restaurants after the government decided Monday to keep COVID-19 vaccine pass requirements on eateries while suspending its enforcement at other multiuse facilities. The government decided to halt vaccine pass requirements at department stores, supermarkets, cram schools and theaters across the country starting Tuesday, after the Seoul Administrative Court ordered a suspension of vaccine pass requirements on such facilities in the capital.

A classical music concert that experiments to break out from conventional forms, “Beyond the Classic 2,” is to set the stage on Feb. 18, at the Seoul Arts Center by the Sam Philharmonic Orchestra, the organizer said on Monday. The concert aims to reach music fans weary from the long-lasting pandemic, to bring hopes and laughter throughout its 100-minute session, the organizer added. Various artists’ collaborative performances will be put together under the theme of “a c

An online website that explores kimchi making recipes and Korea’s unique kimjang culture, will be open to global viewers until the end of March, the Korean Cultural Center Canada announced Sunday. Titled as “Kimjang: The Aesthetics of Sharing,” the website explains in detail the history of how kimjang culture has been treasured by Koreans for generations, and thus came to be acknowledged in 2013 on UNESCO’s list of Intangible Cultural Heritage of Humanity. Alongside its

South Korea’s No. 2 telecom carrier KT and the nation’s second-largest banking group Shinhan Financial Group said Monday that they have forged a new alliance to spur collaborations on futuristic technologies in a cross-shareholding deal. Under the deal worth 437.5 billion won ($367 million), KT will acquire a 2.08 percent stake in Shinhan Financial Group, while Shinhan Bank, the group’s banking unit, will in return acquire a 5.46 percent stake in KT. As the result of the tr

Cargo trains between North Korea and China have resumed operation for the first time in nearly two years since the border closure due to the pandemic, in a sign that the two countries may be readying to fully resume land trade soon. 　 The first train, which arrived in the Chinese border city of Dandong on Sunday, returned home to the North’s Sinuiju at around 7 a.m., according to Yonhap News Agency. 　 The first train was empty when it arrived in China, but its return trip was likely loa

With government restrictions on loans getting tighter and financial technology firms expanding their presence, South Korean banks are turning to their wealthiest clients and their asset management as a survival tactic this year. NongHyup Bank CEO Kwon Joon-hak pledged Monday to adopt a new model that connects customers with wealth managers through its own digital channel. He said he plans to provide professional and quality services to customers using its digital wealth management channel, in

LG Energy Solution is offering retail investors the opportunity to submit bids for its shares ahead of what could potentially be South Korea’s biggest-ever initial public offering next week, having already attracted vastly oversubscribed institutional bids to the tune of some 15,000 trillion won ($12.6 trillion). The world’s second-largest battery maker for electric vehicles is offering a little over 10 million shares -- nearly a quarter of the 42.5 million shares in total -- to ret

Finance Minister Hong Nam-ki called Monday for stern actions against tax evasion related to real estate deals as he renewed the government's commitment to stabilizing the housing market this year. Hong made the remarks during his meeting with the chiefs of the country's four major agencies under the finance ministry -- the National Tax Service (NTS), the Korea Customs Service, the Public Procurement Service, and Statistics Korea. "As this year is an important turning point in stabilizing

Ruling party presidential candidate Lee Jae-myung has called for simultaneously pursuing North Korea's denuclearization and sanctions relief, while his main opposition rival Yoon Suk-yeol has vowed to strengthen the extended deterrence provided by the United States. Lee of the liberal ruling Democratic Party and Yoon of the conservative People Power Party detailed their plans for dealing with North Korea's nuclear weapons program in written interviews with the Korean-American Club, a group of f

South Korea’s exports of kimchi recorded an all-time high last year, reaching a trade surplus for the first time in 12 years, data showed Monday. Kimchi is a traditional Korean side dish made of spicy sauce and fermented cabbage. According to the Korea Customs Service, exports of kimchi surged by 10.7 percent on-year to $159.9 million last year. The figure surpassed the record-high exports of $144.5 million in 2020. More than half of last year’s exports went to Japan, followed by