The International Federation of Red Cross and Red Crescent Societies (IFRC) has allocated 1.1 million Swiss francs ($1.2 million) to help North Korea combat the COVID-19 pandemic from January last year to June next year, its interim financial report showed. According to the COVID-19 Outbreak 20-Month Update, the organization had spent around 699,000 Swiss francs as of September, with the largest portion of 296,000 Swiss francs spent on health-related operations. Another 157,000 Swiss francs wa

Samsung Electronics Co. took over the top spot in the global semiconductor market by revenue in the third quarter, a report showed Tuesday, on the back of strong memory chip sales. Industry tracker Omdia said Intel, which had been the top chipmaker for 11 straight quarters, slipped to number two behind Samsung "as the memory segment, where Samsung is the number one DRAM and NAND supplier, was the largest growth area for semiconductor" in the three months ending in September. DRAM, o

South Korea's new coronavirus cases were below 6,000 for the second day in a row Tuesday, but the number of new critically ill patients exceeded 1,000 again. The country added 5,202 more COVID-19 cases, including 5,144 local infections, bringing the cumulative total to 575,615, the Korea Disease Control and Prevention Agency (KDCA) said. The number of critically ill patients came to 1,022, after 1,016 on Saturday, an all-time high of 1,025 on Sunday and 997 on Monday, the authorities said. Th

　Samsung Electronics retained the top spot in the global smartphone market in the third quarter of the year, a report showed.  　The world‘s largest smartphone maker held a market share of 20 percent in the July-September period, followed by Apple with 14 percent and Xiaomi with 13 percent, according to a report from market researcher Counterpoint Research.  　During the three months, the South Korean tech giant shipped 69.3 million smartphones, up 20 percent from the previous q

North Korean leader Kim Jong-un is the third most searched politician by internet users worldwide this year, data showed Tuesday. Online searches for Kim totaled a monthly average of 1.9 million, behind US President Joe Biden, who topped the list with 7 million searches, and British Prime Minister Boris Johnson with 2 million, according to German data analytics firm Statista. Former German Chancellor Angela Merkel ranked fourth with 1.4 million searches. The most searched keyword related to t

South Korea plans to spend 2.4 trillion won ($2 billion) next year to help double the accumulated sale of hydrogen and electric cars, the finance minister said Tuesday, in the latest move to reduce greenhouse gas emissions. Finance Minister Hong Nam-ki said the government plans to provide more subsidies and other incentives to increase the supply of zero-emission vehicles. Hong said the government aims to double the accumulated supply of eco-friendly vehicles to 500,000 units next year from an

South Korean stocks opened higher Tuesday, as investors sought to buy oversold stocks after the key index's recent plunge. The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.16 points, or 0.51 percent, to 2,978.16 in the first 15 minutes of trading. Stocks started strong after the stock index dipped nearly 2 percent the previous session over the global spreading of the omicron variant of the new coronavirus. Most large caps rebounded in Seoul. Top cap Samsung Electronics adde

South Korea's exports grew 20 percent on-year in the first 20 days of December on the back of solid demand for chips and petroleum products, customs data showed Tuesday. The country's outbound shipments stood at $36.9 billion in the Dec. 1-20 period, compared with $30.7 billion a year earlier, according to the data from the Korea Customs Service. (Yonhap)

South Korea's producer prices increased for the 13th straight month in November as a rise in oil and energy prices drove up the costs of manufacturing products, central bank data showed Tuesday. The producer price index, a major barometer of consumer inflation, stood at 112.99 in November, up 0.5 percent from a month earlier, according to the preliminary data from the Bank of Korea (BOK). The reading marked the 13th consecutive month of a rise. Compared with a year earlier, it jumped 9.6 per

Two dangerous flashpoints, in Europe and Asia, could bring the United States, Russia and China into open conflict. The crises over Ukraine and Taiwan can be resolved, but all parties must respect the others’ legitimate security interests. Acknowledging those interests objectively will provide the basis for a lasting de-escalation of tensions. Consider Ukraine. Although it undoubtedly has the right to sovereignty and safety from a Russian invasion, it does not have the right to undermine R

“The return of the state” is a phrase seemingly on almost everyone’s lips nowadays. Given the global challenges posed by the COVID-19 pandemic and climate change, the argument goes, it is governments, not markets, that should be responsible for allocating resources. The neoliberal revolution started by Ronald Reagan and Margaret Thatcher has apparently run its course. New Deal-style state intervention is back. But this opposition of state and market is misleading, and it poses