Samsung Heavy Industries Co. said Wednesday it has signed a $245 million deal with a European company to sell its drill ship it has failed to deliver due to a botched deal. "The deal will help improve our financial health along with our recent sale of new shares," Samsung Heavy said in an emailed statement. The drill ship sold to the European company is one of two drill ships that Swiss-based offshore driller Transocean Ltd. relinquished without specifying a reason in September 2019.

South Korea's manufacturing activity remained in the expansionary phase for 14 months running in November on brisk exports, a global market researcher said Wednesday. The purchasing managers' index (PMI) of the country's manufacturing sector came to 50.9 last month, up 0.7 point from the previous month, according to a survey by IHS Markit. Since October 2020, South Korea's PMI, a key measure of factory activity in a country, has been above the 50-point mark that separates contraction from expa

South Korea's Marine Corps launched an aircraft group Wednesday to bolster the defense of border islands and wartime capabilities for landing operations, its officials said. The launch of the Marine Aircraft Group came as the armed service had sought to secure a separate air unit after its earlier unit, formed following the 1950-53 Korean War, was incorporated into the Navy in 1973. The launch ceremony took place at the newly minted group in Pohang, 370 kilometers southeast of Seoul, with the

A Seoul court questioned a former opposition lawmaker Wednesday to determine whether to approve an arrest warrant for him on charges of accepting bribes in the form of severance pay for his son from an asset firm at the center of a massive development corruption scandal. Kwak Sang-do quit the main opposition People Power Party and ultimately gave up his parliamentary seat following revelations that his son received 5 billion won ($4.2 million) in severance pay from Hwacheon Daeyu Asset Manageme

A semiconductor industry tracker on Wednesday cut in half its growth projection of the global memory chip market next year. World Semiconductor Trade Statistics (WSTS), a nonprofit organization of chipmakers, forecast the memory market to expand 8.5 percent year-on-year to $171.6 billion next year, down from a growth rate of 18.4 percent with $190.7 billion it forecast in its August report. While the agency did not elaborate, falling DRAM prices and an expected slowdown in memory demand are be

South Korean fantasy horror "Hellbound" has dropped to second place on Netflix's weekly official viewership chart for non-English TV programs in its second week of release, the global video streaming service said Wednesday. Yeon Sang-ho's dystopian horror ranked No. 2 on the chart for the week from Nov. 22-28, posting 67.5 million hours of viewing. It was closely followed by the Colombian telenovela "The Queen of Flow: Season 2" with 69 million hours. The Korean-language

The number of smartphone users on 5G mobile networks had topped 19 million as of October, data showed Wednesday, as new smartphone launches boosted user growth in the latest generation networks. The total number of 5G users reached 19.38 million in October, accounting for around 27 percent of the total 72.15 million mobile subscriptions in the country, according to the data from the Ministry of Science and ICT. South Korea, which has a population of 52 million, first commercialized 5G networks

South Korea's military reported 38 additional COVID-19 cases Wednesday, including cluster infections at an Army unit in Gangwon Province, bringing the total caseload among its personnel to 2,366. Ten Army conscripts stationed at a base in Hwacheon, 118 kilometers northeast of Seoul, tested positive after a fellow was infected at their base. All of the newly added patients from the base were fully vaccinated. The military added it is carrying out COVID-19 tests on around 300 troops on the base.

The number of new daily COVID-19 cases in Seoul surpassed 2,000 for the first time, officials said Wednesday. The capital logged an all-time daily high of 2,222 COVID-19 patients Tuesday, according to the Central Disease Control Headquarters. Only 10 of the city's total were from overseas. The latest daily tally broke Seoul's previous daily record of 1,888 set only four days ago. It also marked an increase of 1,036 from 1,186 the previous day and an increase of 488 from 1,734 a week earlier.

Top diplomats of South Korea and five Central Asian nations gathered at a regional forum held in Tajikistan to explore ways on expanding cooperation for the economic recovery from the COVID-19 pandemic, Seoul's foreign ministry said Wednesday. Foreign Minister Chung Eui-yong attended the 14th Korea-Central Asia Forum held in the Tajik capital of Dushanbe on Tuesday, which was joined by representatives from Tajikistan, Kyrgyzstan, Turkmenistan, Uzbekistan and Kazakhstan. In a key note speech, C

ICU doctors say ‘return to normal was a mistake’