Some 2.63 million jobs have disappeared in the last year, while only 710,000 new jobs have been added, government data showed Tuesday. According to Statistics Korea, over 2 million jobs have been destroyed due to companies downsizing their workforce or shutting down businesses due to the pandemic.  In the same period, some 710,000 jobs were created. More than half, or 53.5 percent, of them were for people aged 60 or above, followed by those in their 50s and 40s with 3.2 percent and 1.6

Controversy surrounding resignation of Cho draws parallel with stigmatization in Netflix drama ‘Hellbound’

Choi Yoon-ho, the chief financial officer of South Korean tech giant Samsung Electronics widely known to be close to its de facto leader Lee Jae-yong, was named Tuesday as the new chief executive officer of Samsung SDI, a Samsung affiliate dedicated to manufacturing batteries and display panel parts. The 58-year-old currently heads Samsung Electronics’ corporate management office, which encompasses its corporate finance, corporate strategy, human resources, corporate communications, globa

Change announced after embassies unite to support foreign residents inoculated overseas

South Korean information technology service firm LG CNS said Tuesday that it had launched a virtual office service by teaming up with Japanese firm oVice, a move to capitalize on metaverse technology to address demand for pandemic-friendly remote work environments. LG CNS will play a role in migrating corporate clients’ work environment online, allowing the clients’ employees to do everyday tasks such as exchanging emails and receiving notifications or checking schedules. Employees

Moody's Investors Service will closely monitor the asset soundness of non-banking financial institutions in South Korea amid worries that they could face risks from snowballing corporate and household debt and rising interest rates, an analyst of the global credit appraiser said Tuesday. In a virtual media briefing, Ok Tae-jong, a senior analyst at Moodys' Investors also said that a continued increase in household debt and asset prices could negatively affect the evaluation of the overall banki

It took becoming a chef for Yoon Tae-hyeon to realize his lifelong dream of becoming a playwright. “My tofu plays Romeo, and rice wine Juliet. The side dishes play the role of supporting actors creating the overall mood, while the main dish comes out as the lead character of an epic drama, called the Hwanggeum Kongbat,” said Yoon, who is the owner-chef of Hwanggeum Kongbat, a Michelin Green Star restaurant that offers some 20 different tofu dishes. Yoon, now in his 50s, had given

To mark the 30th anniversary of the excavation and restoration carried out at Gyeongbokgung, the National Palace Museum of Korea located within the palace grounds is presenting a special exhibition, “Glory of the Royal Palace.” The exhibition that aims to look back on the history of the Joseon era’s primary palace is grouped under the theme of the four seasons. Each theme features one of the four buildings of the palace complex: Heungbokjeon Hall, the Sojubang kitchen site, t

South Korean biotechnology firm Hyundai Bioscience Co. said Tuesday that the combination of its oral antiviral candidate and dexamethasone showed high efficacy in treating COVID-19 during animal testings. The company is currently re-purposing niclosamide-based CP-COV03 as a potential treatment for the COVID-19 virus. The investigative drug's indication also includes influenza. Citing the result of the latest animal testing, Hyundai Bioscience said use of both CP-COV03 and dexamethasone resulte

The Australian Chamber of Commerce in Korea hosted a reception Thursday marking the 60th anniversary of Australia-Korea diplomatic relations. The reception was attended by Australian Ambassador Catherine Raper, Posco Vice-President Lee Jae-wan, and KOTRA foreign investment ombudsman Kim Sung-jin. Raper said that public and private engagements between Australia and Korea throughout the anniversary year had highlighted a long history of close cooperation and friendship. They had also showcased

INDEPENDENCE DAY – Finnish Ambassador Pekka Metso delivers welcome remarks at his residence in Seongbuk-gu, Seoul, to mark his country’s 104th Independence Day. Finland gained independence from the Soviet Union on Dec. 6, 1917. (Sanjay Kumar/The Korea Herald)