The parliamentary defense committee on Tuesday sharply cut the Navy's 2022 budget for the country's first light aircraft carrier, giving a red light to the military shipbuilding project. The defense ministry requested 7.18 billion won ($60 million) for next year's budget to build the country's first light aircraft carrier, but the committee only approved 500 million won, questioning its feasibility. "We respect the Navy's opinion, but this is something that should not be done in a hurry,&

Hanbok-inspired school uniforms, created as part of a project led jointly by the Culture Ministry and the Ministry of Education, will be shown in an exhibition at London’s Victoria & Albert Museum. The Culture Ministry said Tuesday that it has delivered a number of hanbok uniforms and a certificate of donation to Rosalie Kim, curator of the Korean Gallery at the V&A Museum. The samples include hanbok uniforms for boys and girls. The V&A Museum plans to hold its “Hally

Gergiev, Mariinsky Stradivarius Ensemble to have two concerts on Nov. 24

Big data platform company DataStreams said its CEO Lee Young-sang won a global management award from Maekyung Media Group last week. Founded 20 years ago, DataStreams is a leading company in the local big data solutions market and is taking steps to get listed on the Kosdaq. The company also plans to set up corporations in the US, Vietnam and China, and a joint venture with a Vietnamese partner next year to explore the Southeast Asian market. DataStreams has won a number of orders this year i

Mirae Asset Securities said Tuesday it was listed on the Dow Jones Sustainability World Index for the 10th consecutive year, receiving recognition for its commitment to socially responsible investment. As the first global sustainability benchmark, the DJSI World Index selects the top 2,544 listed companies based on their free-float market capitalization. It then evaluates the companies’ environment, social and governance performance and only picks the top 10 percent to be added to the i

Jin Air expands Incheon-Guam flights, Finnair announces Busan-Helsinki route

The Korea Exchange, the sole stock market operator of Korea, placed gaming company NCSoft under an investment caution on Tuesday, a day after an unnamed individual investor was disclosed to have sold 530,000 shares, or a 2.4 percent stake, in the company. The news came as a surprise to market watchers, as the same day trader was seen buying over 703,000 shares and sold 211,000 shares on Thursday -- when NCSoft shares hit the price ceiling at 786,000 won ($666.50) apiece from the previous closi

Experts have cast doubt on recent pledges made by major presidential candidates and their parties on overhauling real estate tax rules, with critics raising questions over its feasibility and impact on the property market. Yoon Seok-youl, the presidential nominee of the main opposition People Power Party, on Sunday vowed via Facebook to reexamine the comprehensive real estate holding tax, which is levied on high-value or multiple property owners. The tax is currently levied annually between t

Amid soaring property prices, young investors turn to co-ownership of commercial buildings, plots of land to build apartments

President Moon Jae-in and Richard Hatchett, CEO of Coalition for Epidemic Preparedness Innovation, held a meeting at Cheong Wa Dae on Tuesday and exchanged views on South Korea’s pandemic preparedness and its vision for a global vaccine production hub. Moon applauded CEPI’s leadership role in facilitating investment into vaccine development and manufacturing against COVID-19, which he said greatly helped in saving people’s lives around the world. “Since joining CEPI l

Kim Chong-in, a veteran election campaigner often referred to as "kingmaker," is once again at the center of attention in the political arena, with the conservatives betting on him to help them win next year’s presidential election. In recent weeks, the main opposition People Power Party has been openly reaching out to Kim to head Yoon Seok-youl's election campaign and wrest power from the ruling Democratic Party of Korea in the March presidential election. "We hope

When Savannah opened Kick cafe earlier this year, whipping up 1,600 crunchy dalgona for Netflix was not part of her plan. Savannah shares the story of how Netflix asked her to host the sensational “Squid Game” pop-up and her empowering journey from feeling like an outsider for liking Kpop to creating the go-to-place for Kpop fans across Europe. Attracting 1200 K-pop fans to her 24 seater cafe in Paris for one of its opening events, the kick cafe is the latest sensation among Europea

After not being seen in public for more than a month, North Korean leader Kim Jong-un reappeared in the state media Tuesday, visiting the city of Samjiyon near the border with China, where the leader’s signature construction project is underway.  The North’s Korea Central News Agency said Kim visited the northern alpine city in Ryanggang Province to inspect progress on the final and the “third stage” of the development project, which is expected to be completed by

K-pop super rookie AleXa is set to hold a fan meeting on the metaverse on Nov. 21, her agency ZB Label announced Monday. The event marks the first such attempt in the K-pop industry, according to the agency. AleXa came to attention in 2016 through K-pop community website Soompi’s audition program, “Rising Legends.” AleXa appeared two year’s later on Mnet’s “Produce 48.” AleXa made her official debut in October 2019, with her first digital single &ld

A prison sentence or fine exceeding 1 million won for election law violations invalidates an election win