The number of mid-sized firms in South Korea went up in 2020 from a year earlier, but their sales dipped due to the coronavirus pandemic, government data showed Monday. Asia's fourth-largest economy had 5,526 mid-sized companies as of the end of last year, up 519 from a year earlier, according to the data from the Ministry of Trade, Industry and Energy. Mid-sized firms here refer to those which have average annual sales of 40 billion won ($33.9 million) to 150 billion won over the past three y

Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Monday that it has secured a technology to prevent cracks in the welded parts of submarines. DSME has developed the technology after two years of research and development since 2019 in cooperation with steelmaker POSCO and KR, a South Korean ship quality assurance and risk management company, the shipbuilder said. The technology is essential to strengthen the performance of submarines, DSME said. The development of the technology

President Moon Jae-in said Monday that South Korea is not considering a diplomatic boycott of the Beijing Olympics and has not been asked by any nation to do so. Moon addressed the issue for the first time after the United States announced last week that it will not send an official delegation to the Olympics in February over concerns about China's human rights abuses. "The South Korean government is not considering (a boycott)," Moon said at a joint press conference with Australian

Samsung Electronics Co. named its newly merged unit for mobile and appliances the device experience (DX) division, the company has said, in a sign of its resolve to provide its customers with new, meaningful experiences. Last week, the tech giant announced it had merged the consumer electronics and IT and mobile communications divisions, and named a new CEO, Han Jong-hee, a former head of the visual display business, to lead the new division. The new name shows Samsung's "ongoing commitme

Thaddaeus Ropac Seoul kicked off its second exhibition since its opening in October, unveiling recent floral paintings from American figurative artist Alex Katz who returned to the subject at the beginning of the pandemic last year. Focusing on the artist’s flower paintings, the works painted over the past two years show how the pandemic has influenced his artistic world. Among the flower paintings are “Wild Spring Flowers2,” “Peony” and “Rhododendron on O

The main opposition People Power Party (PPP)'s presidential candidate, Yoon Suk-yeol, was leading his ruling Democratic Party (DP) rival Lee Jae-myung by a thin margin at 42 percent to 40.6 percent, a survey showed Monday. The 1.4 percentage point margin in the poll by the Korea Society Opinion Institute (KSOI) is smaller than the 3.3 percentage point gap in favor of Yoon last week, and within the range of the poll's margin of error of plus or minus 3.1 percentage points. The poll, commissione

South Korea's military on Monday reported 25 additional COVID-19 cases, all of which are breakthrough infections, raising the total caseload among its personnel to 2,738. Of the new cases, 19 people are from the Army, four from the Navy, one from a unit under the direct control of the defense ministry, and one civilian employee, officials said. Currently, 379 military personnel are under treatment. Of the total military caseload, 1,002 are breakthrough cases. (Yonhap)

South Korea said Monday it will expand financial support measures for local builders as their overseas orders are expected to fall short of last year's records amid the protracted pandemic. Korean construction firms clinched combined overseas orders worth $24.3 billion between Jan. 1 and Dec. 10, down 21 percent from a yer earlier, according to the government. Last year, local builders secured overseas orders worth $35.1 billion last year, but their combined orders for this year may be around

South Korea's new coronavirus cases fell below 6,000 for the first time in six days Monday due to fewer tests over the weekend amid concerns over the spread of the new omicron variant. The country added 5,817 new COVID-19 infections, raising the total caseload to 523,088, according to the Korea Disease Control and Prevention Agency (KDCA). Daily infections soared to a record high of 7,174 cases on Wednesday and remained above 7,000 for the following two days before falling to 6,977 on Saturday

President Moon Jae-in said Monday that the United States, China and North Korea agree in principle on declaring a formal end to the 1950-53 Korean War and Seoul will push to make it happen. Moon was speaking at a joint press conference with Australian Prime Minister Scott Morrison after bilateral summit talks in Canberra. He said he believes an end-of-war declaration will help revive stalled talks between South and North Korea and between North Korea and the US. (Yonhap)