Samsung Electronics reduced chip production in Xian where Chinese authorities placed a strict lockdown last week to contain the prolonged pandemic. According to Samsung Newsroom Thursday, the South Korean IT giant “decided to temporarily adjust operations” at its chip factory in Xian. The decision was made to protect the health and safety of its employees and partners, according to the press release. To ensure its customers are not affected, the company will take all necessary me

Helping hands in short supply as virus resurgence dampens typical year-end giving events

South Korea conducted regular military drills to strengthen the defense of its easternmost islets of Dokdo last week, an informed source said Wednesday, amid lingering tensions caused by Japan's persistent claims to the East Sea outcroppings. The country's military staged the drills to ensure their readiness to fend off potential foreign infiltrations to the rocky outcroppings, the source said without elaborating on the exact date and the size of the participating troops. "(The military)

The loosening of a device to anchor a helium tank of the Nuri space rocket was found to have caused the early shutdown of the rocket's third-stage engine, leading to a mission failure, the science ministry said Wednesday. In October, South Korea launched the country's first homegrown space rocket, also called the KSLV-II. It flew to a target altitude of 700 kilometers, but failed to put the dummy satellite into orbit as its third-stage engine burned out 46 seconds earlier than expected. The g

In Jeju Island’s less populated areas on the midslope of Hallasan, around 2,000 wild dogs are believed to be living in packs for hunting and breeding, a recent study revealed. According to Jeju National University’s Wildlife Rescue Center, which led the research, the population of wild dogs in the midsection of the mountain, lying between 300 meters and 600 meters above sea level, is estimated to be somewhere between 1,626 and 2,168. The researchers explained they are domestic dog

South Korea's terms of trade hit a near nine-year low in November as import costs rose at a much faster pace than export prices, central bank data showed Wednesday. The nation's net terms-of-trade index for goods -- a gauge of overall trade terms -- came to 88.27 last month, down 10.1 percent from a year earlier, according to preliminary data from the Bank of Korea (BOK). The November tally represented the lowest level since March 2013. The figure is calculated by dividing the index for expor

South Korea's corporate capital spending is expected to expand nearly 4 percent in 2022 on a recovery in manufacturing activity and private consumption, a poll showed Wednesday. The survey of 3,700 big, midsize and small companies, taken by the state-run Korea Development Bank (KDB), showed their combined facility investments will likely reach 186 trillion won ($158 billion) next year, up 3.6 percent from this year. "The country's corporate capital spending is likely to keep growing in th

LG Chem Ltd., South Korea's leading electric vehicle battery maker, will invest 475.4 billion won ($400 million) in cathode materials plant, the trade ministry said Wednesday. LG Chem will set up LG Battery Core Material to produce 60,000 tons a year of cathode materials and create 187 jobs for three years, the Ministry of Trade, Industry and Energy said in a statement. The company plans to begin construction of the plant in Gumi, 260 kilometers south of Seoul, next month with an aim to produc

South Korean captain Son Heung-min has been named the country's top male football player of the year for a record sixth time. The Korea Football Association (KFA) announced winners of the annual KFA Awards on Wednesday. Son earned the Male Player of the Year honor for the third straight time and sixth year overall. He previously won this award in 2013, 2014, 2017, 2019 and 2020. He netted four goals in seven international matches in 2021. At club level, Son set a career high with 22 goals in a

SEJONG -- The number of South Koreans who moved to different residences in the country dropped for the 11th straight month in November amid fewer newly available apartments, data showed Wednesday. The number of people who changed their residences sank 7.1 percent on-year to 567,000 last month, according to the data compiled by Statistics Korea. It marked the 11th consecutive month the number has dropped and was lower than the 10.7 percent decline posted in September. The fall was attributable

The number of babies born in South Korea sank to a record low in October, data showed Wednesday, highlighting the country's bleak demographic situation with the chronically low birth rate. A total of 20,736 babies were born in the country in October, down 5.2 percent from a year earlier, according to the data compiled by Statistics Korea. It marked the lowest tally for any October since 1981, when the statistics agency began compiling related data. The October figure was also down from 21,920

Samsung SDI has unveiled its new battery brand “PRiMX,” which stands for a prime battery for maximum experience, to better convey its corporate identity that pursues super-gap technology. The rebranding portrays the philosophy of the firm’s new CEO Choi Yoon-ho, who took the post earlier this month. In his inaugural speech, Choi said, “Let’s together embark on a journey of true No. 1 ... based on super-gap technology and best quality.” “Samsung SDI h

Samsung Electronics has invested in Ready Player Me, a 3D avatar platform for the metaverse that allows users to explore virtual worlds with one consistent identity, according to a press release Wednesday. Samsung Next, Samsung Electronics’ subsidiary investing in startups with promising technologies, participated in a $13 million series A funding round led by a venture capital Taavet+Sten. According to Ready Player Me, the funding will be used to grow its global presence as the defaul

South Korea and the United States have "effectively" agreed on the draft text of the proposed declaration of a formal end to the 1950-53 Korean War, Seoul's top diplomat said Wednesday amid their continued push to resume dialogue with North Korea. Chung Eui-yong made the remarks during a press conference, noting he and US Secretary of State Antony Blinken reaffirmed the progress in the allies' consultations over the declaration when they met on the margins of a Group of Seven session