Seoul shares closed lower Monday on profit taking amid lingering concerns over the spread of the omicron variant. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 12.88 points, or 0.43 percent, to 2,999.55 points. Trading volume was moderate at about 462.9 million shares worth some 8.13 trillion won ($6.8 billion), with gainers outnumbering losers 446 to 405. Individuals sold a net 523 billion won worth of stocks, exceeding instituti

Despite lingering omicron woes, experts say Korea’s economy to grow 3% on average on strong chip, IT exports

The chip, renewable energy and entertainment industries are set to grow next year, auditing firm Samjong KPMG said Monday in its annual industry forecast report for 24 industries. The supply of system chips will improve as production expands while sales of memory chips next year will not be as strong as this year, because of oversupply, the report said, noting that the South Korean government should work with local chipmakers like Samsung Electronics to localize parts for chip independence. Sa

After just four seasons on the LPGA Tour, South Korean star Ko Jin-young has already accomplished more than what most other golfers would love to achieve in their entire careers. But Ko, 26, isn't yet satisfied. In a Zoom press conference with the South Korean media Monday, Ko said she feels she still has so much room for improvement. If Ko can somehow get better after an outstanding 2021 season, in which she won the Player of the Year award and the money title thanks to a tour-best five vict

S. Korea, US appear to be on different page in dealing with China challenge

With an OLED TV, LG transforms boring massage chair into personal theater　

Samsung‘s Lee says preparation for 6G on the way during president’s luncheon

The largest South Korean streaming platform Wavve is scheduled to release its first 2022 original series “Tracer” on Jan. 7. The series will also get its terrestrial broadcast premiere on MBC as their new Friday-Saturday drama series following “The Red Sleeve.” Directed by Lee Seung-young, who was behind crime thriller “Missing Noir M” (2015) and “Voice Season 2” (2018), “Tracer” is an action drama about the National Tax Service&rsquo

Coronavirus cluster infections have been on the rise at young children's educational facilities in Seoul, the city government said Monday. The Seoul government said as many as 270 children tested positive for COVID-19 last week as parts of infection clusters traced to daycare centers, kindergartens and other educational facilities. The number of COVID-19 infections traced to an English language academy in the southern ward of Gwanak, for instance, reached 76 from Dec. 19-25, while similar clus

Civic groups vented outrage Monday over the recent special pardon for ex-President Park Geun-hye imprisoned on corruption charges, arguing that the decision is a blow to the country's democracy. Activists representing 1,001 civic groups, including the Korean Confederation of Trade Unions (KCTU) and the People's Solidarity for Participatory Democracy, staged a press conference in front of Cheong Wa Dae earlier in the day, calling for the withdrawal of the amnesty. "President Moon Jae-in's

South Korea's state intelligence agency formally raised the alarm Monday about the possibility of counterfeit $50 bills being distributed in the nation, especially before and during the 2022 Beijing Winter Olympic Games. The National Intelligence Service (NIS) made public a photo of a fake bill, similar to a so-called supernote in its highly deceptive characteristics, which it had acquired recently. "Such a $50 counterfeit has not yet been found in South Korea, but it is continuing to ci

SK Square, an information and communication technology arm of SK Group, has added South Korean agricultural startup Green Labs to its range of portfolio companies with a 35 billion won ($29.5 million) investment as a sole investor, it said Monday. The startup operates a smart farming platform called “Farm Morning,” dedicated to optimizing the supply chain of crop harvesting and distribution, as well as providing data-driven consulting services to farmers. The deal puts the curren

Government secures oral treatments for 604,000, drug likely to go into use from late January

Lee Nak-yon steps out of shadow to head subcommittee with Lee Jae-myung

The employment rate of students with bachelor's, master's or doctorate degrees fell to a record low last year as the COVID-19 pandemic dealt a severe blow to job markets, government statistics showed Monday. Their employment rate stood at 65.1 percent last year, the lowest since the education ministry started compiling such data in 2011, according to its statistics. According to the statistics, 553,521 people graduated from colleges and graduate schools across the country between August 2019