South Korea‘s vaccine pass mandate, which requires people to show proof of vaccination or a negative PCR test conducted within 48 hours to shop in large retail and department stores, became effective on Monday. According to the government, there will be a one-week grace period until Jan. 16 to reduce confusion. After the grace period, penalties can be levied on people who enter those facilities with expired vaccine passes, as well as facilities owners who accept them. People who go in

SEJONG -- The government plans to provide support to companies in preventing and dealing with industrial hazards, as a new workplace disaster punishment law is set to come into effect this month, officials said Monday. The law, passed by the National Assembly last year, will go into effect on Jan. 27, under which owners and CEOs of companies with five or more employees can face a minimum one-year prison sentence or up to a fine of 1 billion won ($833,000) in the event of serious workplace disas

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  Korean instant noodle exports in the first 11 months of last year set a new record amid the prolonged pandemic and the popularity of “chapaguri,” a mix of two different instant noodle products featured in the Oscar-winning film “Parasite.” Exports of ramen, known locally as “ramyeon,” in January-November 2021 hit $607.9 million, up 10.6 percent from the same period a year prior. The 2020 total, which was then the highest ever annual figure, was $603.6

A court on Monday gave its nod to electric carmaker Edison Motors Co's deal to acquire the embattled SsangYong Motor Co., according to sources. The approval by the Seoul Bankruptcy Court paved the way for Edison's plan to take over the financially troubled carmaker under court receivership.  Sources said following the court decision, Edison is expected to sign a formal contract to pump in about 304.8 billion won ($254.5 million) into SsangYong as early as Tuesday. (Yonhap)

Snow will fall in the capital area and central inland regions between Monday evening and Tuesday morning, the state weather agency said, forecasting snow accumulation of up to 3 centimeters in Seoul. The Korea Meteorological Administration (KMA) said that snow clouds have been forming in the Yellow Sea as cold air from the northwest has met with relatively warm air. As the snow cloud belt moves to the east, snow will begin to fall on the west coast of Gyeonggi Province, which surrounds Seoul,

South Korean stocks retreated Monday, weighed by concerns over the possibility of the US Federal Reserve's faster-than-expected tapering and rate hikes. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) fell 28.17 points, or 0.95 percent, to close at 2,926.72 points. Trading volume was moderate at about 470 million shares worth some 10.2 trillion won ($8.5 billion), with losers outnumbering gainers 615 to 259. Institutions sold a net 500 billio

South Korean biopharmaceutical giant Celltrion Inc. on Monday announced a 100 billion-won ($83.3 million) share buyback plan to stabilize stock prices and increase its shareholders' value. Its affiliate, Celltrion Healthcare, which handles overseas business operations, will also repurchase 50 billion won of its shares. The buyback plans are scheduled to start Jan. 11 and run until April 10, the companies said, adding their boards of directors made the decisions. Currently, Celltrion owns 1.32

South Korea will begin its annual meeting with the International Monetary Fund (IMF) this week on the country's overall economic situation as well as the response to the COVID-19 pandemic, the finance ministry said Monday. An IMF team, led by Martin Kaufman, Korea missions chief at the Washington-based organization, will hold a video conference with the Ministry of Economy and Finance on Tuesday before holding similar virtual meetings with officials of the central bank, and other financial and

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President Moon Jae-in called for senior aides to do everything possible to employ anti-epidemic measures against the spread of the omicron variant, saying it is only a matter of time before the omicron becomes the dominant strain in South Korea. While emphasizing the government's urgency in coping with the omicron, Moon convinced people the nation could overcome the highly transmissible variant if it makes utmost efforts to curb the spread of the variant. "It will only be a matter of ti

A total of 20 North Koreans who defected to the South have migrated to other countries over the past five years, the Ministry of Unification said Monday. The living conditions of North Korean defectors here have drawn keen attention, especially since a defector who fled the North in late 2020 reportedly crossed the heavily-fortified inter-Korean border again earlier this month to return home. "The number of North Korean defectors who have emigrated over the recent five years (from 2016-20