South Korean stocks opened lower Thursday as investors attempted to cash in gains from the recent rally. The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.35 points, or 0.25 percent, to 2,986.94 points in the first 15 minutes of trading. The KOSPI got off to a lackluster start, apparently on the back of losses in tech heavyweights. Top cap Samsung Electronics fell 0.53 percent, and No. 2 chipmaker SK hynix lost 0.42 percent. Leading chemical firm LG Chem shed 1.2 percent and

South Korean short track speed skaters will compete in the last event with Olympic quota places at stake in the Netherlands this week, amid trouble off the ice and continued underperformance on it. The fourth and final International Skating Union (ISU) World Cup of the season will open in the Dutch city of Dordrecht on Thursday morning (local time), or Friday afternoon in Seoul. The first two days will feature qualifying races, while medals will be won over Saturday and Sunday. Based on their

South Korea plans to hold an annual ceremony later this week to honor the sacrifices of the troops killed in a major battle of the 1950-53 Korean War, the veterans affairs ministry said Thursday. The event to commemorate the Battle of Chosin Reservoir will take place in the War Memorial of Korea in Seoul on Friday with the attendance of some 400 people, according to the ministry. Key participants will include Veterans Affairs Minister Hwang Ki-chul and Christopher Del Corso, charge d'affaires

South Korea's international tax competitiveness has fallen nine notches over the past five years, a report said Thursday, pointing to a need to lower tax rates and simplify its tax system. The country's tax competitiveness ranks 26th in the world in 2021, compared with 17th five years earlier, according to the report from the Korea Economic Research Institute (KERI). It marks the sharpest drop among the Group of Five major economies, as well as 37 members of the Organization for Economic Coope

Japanese contemporary artist Yayoi Kusama broke another auction record in South Korea, with her painting “Pumpkin” fetching 5.45 billion won ($4.58 million), the greatest sum of all works sold on the block in Korea this year. It is also the highest price paid for a Kusama painting in Korea. The 1.2-meter-tall painting, created in 1981, went under the hammer at the auction house’s winter sale with a starting price of 5.2 billion won. The winning bid of 5.45 billion won breaks

Mercedes-Benz Korea said Thursday it will add an all-electric sedan this year to its EV lineup amid a growing appetite for zero-emission vehicles.  The German carmaker introduced the new EQS, the first pure electric sedan built on its dedicated electric modular architecture, during the media day of the 2021 Seoul Motor Show. Under its all-electric brand Mercedes-EQ, the new EQS 450+ AMG Line and EQS 450+ AMG Line Launch Edition models will go on sale in the Korean market within this year

BMW Korea, GM Asia-Pacific Regional headquarters and Mercedes-Benz Korea will voluntarily recall more than 220,000 vehicles to fix faulty components, the transport ministry said Thursday. This is the latest in a series of recalls by carmakers operating in South Korea due to problems with vehicle components. The three carmakers are recalling a combined 223,330 units in 84 kinds of models, the Ministry of Land, Infrastructure and Transport said in a statement. For instance, BMW plans to gradua

Rarely in the world have women’s and girls’ rights been challenged in such a concerning way as they have been in Afghanistan. The EU has made it clear that future EU development assistance will depend on the respect for norms on human rights, including women’s and girls’ rights. The EU will continue to support women and girls worldwide, sticking to our values and beliefs. Human rights, freedom, democracy and equality represent core values that make the European Union

The United Nations Climate Change Conference in Glasgow fell far short of what is needed for a safe planet, owing mainly to the same lack of trust that has burdened global climate negotiations for almost three decades. Developing countries regard climate change as a crisis caused largely by the rich countries, which they also view as shirking their historical and ongoing responsibility for the crisis. Worried that they will be left paying the bills, many key developing countries, such as India,

MADRID -- In the aftermath of World War II, the victors established a set of institutions that have underpinned the world order ever since. While those institutions have often been contested, they have proved to be highly resilient. But this does not mean they are invulnerable. On the contrary, their effectiveness may be gradually eroded -- especially when they are used as geopolitical pawns. Academic research offers abundant analysis of the factors that boost institutional hardiness, and thos