South Korea's military reported 10 additional COVID-19 cases Tuesday, bringing the total caseload among its personnel to 2,203. An officer of the South Korea-US Combined Forces Command based in Seoul tested positive after developing symptoms. A civilian employee of the Air Force stationed in Osan, 55 kilometers south of Seoul, and an Army officer in the central city of Daejeon were also confirmed to have contracted the virus after exhibiting symptoms. An Army officer stationed in Pocheon, 46

Military strongman who ordered Gwangju massacre will not be buried in National Cemetery; Cheong Wa Dae will not offer condolences

  South Korean carmakers’ sales fell 22 percent last month from a year earlier as an extended global chip shortage and the COVID-19 pandemic continued to weigh on vehicle production and sales, industry data showed. The country’s five carmakers - Hyundai Motor, Kia, GM Korea, Renault Samsung Motors and SsangYong Motor - sold a combined 548,192 vehicles in October, down from 705,047 units a year ago, according to data from the companies. Their domestic sales declined 21 percent

Prime Minister Kim Boo-kyum has ruled out the possibility of a Cabinet reshuffle in the final months of the current administration amid rumors some Cabinet members could quit to run in next year's local elections. "It makes no sense," Kim said during his press meeting Monday in the central city of Sejong. "There are only six months left of this government's term, so how can we do a reshuffle?" Rumors have been circulating recently that Finance Minister Hong Nam-ki may run

South Korea's new coronavirus cases stayed below 3,000 for the second straight day Tuesday, but the number of critically ill patients hit an all-time high, raising concerns over a shortage of hospital beds for treatment. The country reported 2,699 new COVID-19 cases, including 2,685 local infections, raising the total caseload to 420,950, according to the Korea Disease Control and Prevention Agency (KDCA). This marked the second straight day that the daily infections remained below 3,000. The

South Korean stocks opened lower Tuesday as investors attempted to lock in gains from the recent tech rally. The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.54 points, or 0.22 percent, to 3.006.71 points in the first 15 minutes of trading. The KOSPI got off to a lackluster start amid losses in most large caps. Overnight, the tech-heavy Nasdaq composite lost 1.26 percent amid lingering inflation concerns. The Dow Jones Industrial Average edged up 0.05 percent Top cap Samsung

South Korea plans to chart out around 12.7 trillion won ($10.7 billion) worth of support measures for pandemic-hit small merchants and vulnerable people with excess tax revenue and the state budget, the country's finance minister said Tuesday. The government will unveil a package of measures to support small merchants, including low interest rate loans and cuts in electricity bills, according to Finance Minister Hong Nam-ki. The measures will also include ways to stabilize inflation and back qu

Large South Korean companies have cut their combined workforce by more than 1 percent over the past two years amid the coronavirus pandemic, a corporate tracker said Tuesday. The number of workers hired by 313 out of the country's top 500 firms by sales came to 1.24 million as of end-September this year, down 1.02 percent, or around 12,800, from two years earlier, according to the Leaders Index. These companies removed some 18,200 regular jobs over the cited period, while increasing the number

The European Union antitrust regulator said Tuesday it has resumed its investigation into the proposed combination of two major South Korean shipbuilders 16 months after it suspended the probe. The European Commission plans to finalize the probe by Jan. 20, it said on its website. "The probe was able to be resumed as we fully answered questions by the EU antitrust regulator," said an official at Korea Shipbuilding & Offshore Engineering Co. (KSOE). KSOE is the subholding compan

South Korea's business sentiment deteriorated for December due to raw materials and parts supply disruptions from China in the manufacturing sector, a local think tank said Tuesday. The business survey index (BSI) of the country's top 600 companies by sales fell to 100.3 for next month, down from 100.6 for November, the Korea Economic Research Institute (KERI) said in a statement. The business outlook stayed above 100 for a fourth straight month. The actual BSI stood at 102.2 in November, up