South Korean stocks closed slightly lower Wednesday as investors took to the sidelines ahead of the central bank's monetary policy meeting. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) slipped 3.04 points, or 0.1 percent, to close at 2,994.29 points. Trading volume was moderate at about 540 million shares worth some 10.7 trillion won ($9 billion), with losers outnumbering gainers 477 to 373. Institutions sold a net 592 billion won, while f

Korea Aerospace Industries announced Wednesday that it will acquire a 10 percent stake in Konan Technology, a company specialized in AI and big data. This investment in shares comes as an effort to acquire future industry-related technology by implementing AI, big data and deep learning into the aviation and defense sectors. KAI and Konan Technology will work together on developing an AI-based prognostics and health management system that can be used on Korean Utility Helicopter, KF-21, FA-50,

The Seoul Mobility Show, the only official motor show in South Korea, will kick off this Friday simultaneously at Kintex in Goyang and Paju in Gyeonggi Province as well as Seoul, showcasing 18 new cars. According to the organizer for the show, the exhibition will continue until Dec. 5 with over 100 automobile and mobility companies from six different countries taking part. The main exhibition at Kintex includes vehicles from Kia, Maserati, Mercedes-Benz, Mini, BMW, Audi, Isuzu, Genesis, Porsch

Though two main contenders dominate the race, four party-backed candidates are gunning for the presidency

Prosecutors questioned a former chief secretary to Lee Jae-myung, the presidential candidate of the ruling Democratic Party, on Wednesday in connection with a far-reaching corruption scandal surrounding a development project undertaken in the city of Seongnam when Lee was mayor. The Seoul Central District Prosecutors Office summoned Lim Seong-min, who served as Lee's chief of staff while he was serving as Seongnam mayor, for questioning as a witness earlier in the day, according to officials.

Victims of the brutal crackdown on a 1980 pro-democracy uprising in the southwestern city of Gwangju have launched a damage suit against the government, a lawyer's group announced Wednesday, a day after the death of former President Chun Doo-hwan accused of ordering the crackdown. Lawyers for a Democratic Society said it has filed the suit on behalf of 70 people who were subject to brutal violence by soldiers during the democracy protests in May 1980 in Gwangju, 329 kilometers south of Seoul, a

For director and actor Yoo Teo, releasing “Log in Belgium” as his debut film was never part of the plan. “Shooting a video was a way for me to endure the self-quarantine period in an unfamiliar city of Antwerp, Belgium, shortly after the outbreak of the COVID-19 pandemic, when countries closed their borders and locked themselves down,” Yoo said in a press conference Tuesday at CGV Yongsan in central Seoul. He was in Antwerp working on the joint German-Japanese drama prod

The music video for the K-pop supergroup BTS' 2019 hit "Boy With Luv" surpassed 1.4 billion YouTube views for the first time among videos from the group Wednesday. "Boy With Luv," the main track of the septet's sixth EP "Map of the Soul: Persona," hit the milestone at around 10 a.m., according to the group's management agency Big Hit Music. The feat was achieved about four months after the video passed the 1.3 billion mark. The upbeat track, featuring American si

There’s no free lunch in China’s “vaccine diplomacy”

Fresh from conquering the AMAs, K-pop sensation BTS now has its sights set on a gramophone shaped trophy, with a nomination for best pop duo or group performance for next year’s Grammy Awards. The group was nominated Tuesday for the prize for its megahit “Butter.” BTS received its first-ever Grammy nomination last year for “Dynamite,“ but failed to get a nomination for any of the top four overall Grammys. “Butter” was recognized alongside songs by big

Unification Minister Lee In-young on Wednesday denied speculation that Seoul is seeking to declare a formal end to the Korean War in time for the upcoming Beijing Olympics, amid concerns that a possible US boycott of the games would dash Seoul’s hopes for diplomacy with Pyongyang. 　 “The end-of-war declaration is not necessarily aimed at the Beijing Olympics,” Lee told reporters during a press conference in Seoul, stressing that the two are separate issues. “We do hope

South Korea's military reported 14 additional COVID-19 cases Wednesday, bringing the total caseload among its personnel to 2,217. Six Army service members tested positive before and after they returned to their bases after their vacations. An officer of an Air Force unit in Osan, 55 kilometers south of Seoul, contracted the virus after developing symptoms. Another in the same unit also tested positive after coming in contact with him. One draftee of an Army unit in Pyeongtaek, 70km south of

South Korean manufacturers are seeking to expand their presence in the electric vehicle market through a partnership with Rivian, the burgeoning US electric vehicle maker that has been in the global spotlight for its potential to become the next Tesla. According to the industry, Posco International is supplying some 145 billion won ($122 million) of half shafts for 340,000 vehicles produced by Rivian. Domestic partner Erae AMS will work alongside it to begin delivering the ordered amount next

South Korean fantasy horror "Hellbound" was the most-viewed TV show over a recent one-week period among those on Netflix, the global video streaming service said Wednesday. "Hellbound" topped Netflix's official weekly chart for non-English TV programs with 43.5 million hours of viewing for the week from Nov. 15-21, outnumbering "The Queen of Flower" with 38.6 million hours and "Squid Game" with 30.4 million hours. The feat is remarkable, considering &qu