Citibank Korea, the South Korean unit of Citigroup, has ramped up efforts to gain an upper hand in sustainable financing, focused on environmental, social and governance factors, to support local companies’ ESG management, the lender said Sunday. Sustainable financing refers to a bank’s financial services, ranging from loans to bonds, designed to provide financial support for sustainable economic activities and projects of private companies or public entities. The prolonged COVID-19

As artificial intelligence, big data and digital technologies emerge as the forces driving change in many traditional industries, companies that previously did not need many IT workers are hiring tech talent. But digital skills are in such a short supply nationwide there is a war for talent. One company feeling the talent crunch is Ably, a fast-growing online fashion platform that currently consists of more than 200 employees among which some 20 percent are software engineers or developers.

Online fuss continues after a billboard intended to win the affections of Blackpink’s Jennie was erected near the artist’s agency, YG Entertainment, in Seoul. The ad was put up by Filipino businessman Christian Albert Gaza, who proclaims himself as Jennie’s No. 1 fan. Gaza had the two-panel ad -- with one side in English and the other in Korean -- installed atop a five-story building a few kilometers from the agency in Yongsan, Seoul. The billboard ad reads: “Kim Jennie

Lee Jae-myung, the presidential candidate of the ruling Democratic Party, said Sunday South Korea should consider sending a special delegation to China to tackle the supply shortage of urea water solution (UWS), a key material used in diesel vehicles to reduce emissions. Calling the current crisis a "China risk," Lee also urged party officials to review other materials that similarly have limited import channels and look into imposing price control, when necessary, to prevent acts cor

Nov. 1 marked the launch of the South Korean government’s three-phase plan, announced last week, to gradually lift the restrictions previously imposed because of COVID-19. While many people have welcomed the road map for a return to normal -- particularly local business owners hurt by the prolonged restrictions -- there are still concerns about what is to come in this new era of “living with COVID-19.” Experts across the country have expressed concern that the new policy

South Korean electronics giant LG Electronics said Sunday that its premium OLED TV lineup had aced recent evaluations conducted by consumer magazines from 14 countries. In particular, the OLED evo introduced this year was recognized for its outstanding performance, earning the best score from consumer outlets in seven European countries, it said. French consumer magazine Que Choisir gave LG’s OLED evo a score of 16.2, the best among the 264 TVs it reviewed. The magazine said the prod

As overseas tourism slowly resumes with travel bubble programs and a rise in vaccination rates, travel to Saipan logged a sharp increase last month, data showed Sunday. According to the Transport Ministry data, passengers going to Saipan from Incheon surged 178.5 percent in October to 3,900 passengers from 1,400 passengers in September. Travel to Saipan also spiked in July when South Korea launched the travel bubble with the country, exempting fully vaccinated people from mandatory quarantin

The ruling Democratic Party's presidential nominee, Lee Jae-myung, on Sunday insisted again on giving additional universal COVID-19 relief grants, saying excess tax revenue is expected to amount to 40 trillion won ($34 billion). "Is it right for the people of a well-off nation to be poor?" Lee said in a Facebook posting, after his opposition rival, Yoon Seok-youl of the People Power Party, voiced opposition to offering universal relief grants. "The real gross domestic product (G

A senior official of General Motors will visit South Korea this week, sources said Sunday, raising expectations he could unveil new production plans for the Korean unit of the US carmaker. Steven Kiefer, president of General Motors' international operations, will arrive in South Korea on Monday for a five-day stay, according to the sources from the labor union of GM Korea. Kiefer is expected to visit GM Korea's plants, including those in Bupyeong and Changwon, and meet officials of the state-

Seoul struggles to find alternative source of diesel exhaust fluid, but no immediate solution in sight

Lenders offer lucrative early retirement packages to slash labor costs

Green washing refers to abusive marketing activities that exaggerate, misrepresent and mislead about the company’s eco-conscious behavior, products or financing. The tendency of companies to oversell is expanding from environmental to social areas and coining new color-themed names. It is true that false ESG communication could happen unintentionally. Companies must carefully pick the words they use in communicating corporate sustainability practices because inspectors and civil society ar

Stocks that began trading through blockbuster initial public offerings this year might see a downturn in stock prices as lockup periods that hindered large shareholders from selling expire this week, according to market insiders Sunday.　 A stock lockup is a device to prevent large shareholders from selling their shares too quickly and causing a sudden change in stock prices after a company goes public. Institutional investors are expected to trade roughly 11 trillion won ($9.3 billion) worth o

If it were not for all the people wearing masks, it would be fair to say that multiplex theater CGV Yongsan in central Seoul was back to normal on Saturday night -- just as it used to be before COVID-19, especially in vaccine-pass auditoriums. Changes were evident at the snack bar, which had very few customers a week earlier. The theater smelled of popcorn, people were standing in front of the kiosks to buy food, and staff were shouting customer numbers at the pick-up counter. These changes we

The number of seriously ill COVID-19 patients has risen steadily since Nov. 1, when rules were eased for public gatherings and working hours at public facilities such as restaurants and cafes. The change came into effect as part of a step-by-step transition by health authorities to remove all restrictions by February. This weekend some 3,000 South Koreans attended rallies in downtown Seoul, while many others took advantage of the increased freedom in public places. But Korea is seeing an incr