South Korean stocks retreated for a second straight session Monday as investors took to the sidelines ahead of the US Federal Reserve's policy meeting later this week. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 8.57 points, or 0.28 percent, to close at 3,001.66 points. Trading volume was moderate at about 368 million shares worth some 8.5 trillion won ($7.2 billion), with losers outnumbering gainers 495 to 347. Foreigners sold a

Ven. Seongpa was chosen to be the spiritual leader of the Jogye Order, South Korea's largest Buddhist sect, on Monday, The 82-year-old priest is to start his five-year term as the 15th Supreme Patriarch on March 25 when current leader Ven. Jinje's second five-year term ends, the Jogye Order said. The Supreme Patriarch, or "Jongjeong" in Korean, is the highest authority in the Buddhist sect, but does not oversee its administration. Born in 1939 in Hapcheon, 354 kilometers south of Se

South Korea’s exports from the beginning of the year to Monday surpassed the record-high annual outbound shipments of $604.9 billion, observed in 2018, setting a new all-time high. According to data compiled by the Trade Ministry and Korea Customs Service, total outbound shipments surpassed the ful-year export record at 11:36 p.m. Monday. It is projected to surpass $640 billion on current trends, the Trade Ministry noted. A Trade Ministry official pinpointed further development in Kore

This year will be the first time Choi Kyung-mi ordered a cake for Christmas. The freelance writer placed an order for a 38,000 won chocolate vegan cake she planned on sharing with friends and family at a party to celebrate the end of the year.  She was one of the lucky ones: Cakes have already been selling out at bakeries across the country. Tous Les Jours bakery franchise operator CJ Foodville said it has seen an explosive growth in reservations for its Christmas cakes this year, as ma

Democratic Party presidential candidate Lee Jae-myung on Monday was attacked with eggs by a protester opposing the US THAAD anti-missile system in the central county of Seongju while campaigning. The male protester threw two eggs at Lee from across a road while the candidate was heading toward a fruit farm in the county, 217 kilometers southeast of Seoul, as part of his campaign in the region. Lee was not hit, but a bodyguard and Rep. Han Jun-ho were hit by pieces of an egg. The incident cause

As the prolonged pandemic has continued to take a toll on people’s mental health, Koreans are increasingly turning to different sound genres to unwind. In Korea, Kokkiri and Mabo are two apps that are looking to tap into the market for ambient music. The apps have themes describing the user’s state of mind -- from anxiety, depression to anger and sleeplessness. There are subcategories of meditation sounds and auditory training sessions. To allow the users to keep track of the pla

The so-called "Nth room prevention law" is facing growing criticism from the public, with critics accusing the measure of censorship and violation of free speech. A legislative revision to the Telecommunications Business Act went into effect Friday, requiring internet platforms with yearly sales of 1 billion won ($848,800) or those with more than 100,000 daily users to engage in removing illegal content from their servers. The revision was nicknamed the Nth room prevention law after

Australia signs $720m weapons deal, first major deal with Asian country

SK Group, South Korea's No. 3 conglomerate, said Monday it signed a deal with the Vietnamese government to boost cooperation in eco-friendly businesses, such as areas related to carbon emission cuts, hydrogen and digital technologies. SK Group Chairman Chey Tae-won signed the memorandum of understanding during a meeting with top Vietnamese government officials in Seoul, including Deputy Prime Minister Le Minh Khai and Parliament Speaker Vuong Dinh-hue, SK said. Under the MOU, the two sides wi

Outages in the government's digital vaccine authentication system have been reported in large numbers Monday, causing inconveniences around lunch time on the first day of the nation's vaccine pass enforcement. Reports of inability to access COOV, the Korea Disease Control and Prevention Agency's smartphone application which offers vaccine certifications in QR codes, began appearing in various online communities at around 11:40 a.m. Authentications of QR codes in other popular services, such as

South Korean Foreign Minister Chung Eui-yong stressed the partnership with Washington, but remained apart on key sticking points with Tokyo, in a brief meeting with his US and Japanese counterparts on the sidelines of the Group of Seven session in the UK.   　 Chung joined the in-person gathering of G-7 foreign and development ministers meeting in Liverpool, England, over the weekend, the Foreign Ministry said Monday. South Korea was invited as a guest -- along with Australia, India, South

Labor board system bill heavily criticized while Lee Jae-myung calls for action

Shares of robotics tech firms surged Monday following news reports that Samsung Electronics is setting up a new team solely dedicated to the robotics business, one of the frequently-cited new growth engines for the Korean tech giant. Yujin Robot, one of the first-generation robotics companies here with more than 30 years of history, saw a 30 percent jump in its stock price and was trading at 4,150 won ($3.52) as of 2 p.m., as investors cheered for its business potential with Samsung, the natio

　A fifth of people aged 15 to 29 in South Korea were not in employment, education or training (NEET), a report has shown, which would mark the third-highest level among members of the Organization for Economic Cooperation and Development. 　The estimated number of NEET youth in South Korea is nearly 1.59 million, according to a report by Chung Jae-hyun, head of the youth policy research and development division at the Korea Employment Information Service. 　They include about 778,000 who are se

Samsung Electronics said Monday its Bespoke water purifier, whose trade name is RWPaxy1bcde(z), has been certified by NSF International, a US-based product testing and certification organization, for removing microplastics from water – an industry first globally. Microplastics are tiny pieces of plastic, less than 5 micrometers in length, that are extremely difficult to detect. They are known to cause harmful effects to human body, including cell death and allergic reactions. NSF Intern