South Korea plans to increase its stockpile of rare metals and expand the list of such items for strategic reserves, the country's finance minister said Wednesday. The move aimed at ensuring stable supply of such materials came in the wake of a recent supply shortage of aqueous urea solution, a key additive for diesel vehicles. The government plans to swiftly boost the stockpile of rare metals to a maximum of 180 days of use from the current 100 days, according to Finance Minister Hong Nam-ki.

Police on Wednesday disclosed the identity of a man accused of killing his ex-girlfriend with a knife at her studio apartment in central Seoul last week. The Seoul Metropolitan Police Agency identified the suspect as 35-year-old Kim Byung-chan and disclosed a photo of his face and other personal information following a police committee's decision in the afternoon. Kim was arrested Saturday in the southeastern city of Daegu, a day after the murder. The case sparked public fury, as it was known

South Korea’s economy will grow 3.2 percent next year on consumer spending and strong exports, with pandemic restrictions expected to have eased, a local think tank said Wednesday. The benchmark Kospi will also maintain its growth momentum and hit a record high, it added. “We will see a clear surge in consumer spending early next year as the coronavirus curbs are eased. … Exports will be strong, propped up by a global economic recovery,” said Jang Geun-hyuk, a seni

Minho of SHINee will meet with fans in person at a fan event on Dec. 21. 　 It has been two years and nine months since his previous solo fan meeting, growing anticipation for the event that will also be broadcast live through Naver’s V Live for fans from around the world. 　 The veteran idol will put on a performance and talk to fans as well as play games, quenching the thirst of fans who have been waiting for a chance to see him on stage. 　 In addition to his activities as part of SHINe

Singer-songwriter Lee Seung-yoon, the winner of JTBC competition “Sing Again,” released his first studio album, “Even If Things Fall Apart,” Wednesday, revealing his musical philosophy to fans and new listeners. “I would like to be a musician who delivers two messages -- ‘You’re unique in your own way’ and ‘You mean nothing in this vast world’ -- through my songs. ... And this album could be the pinnacle moment of my career into w

After a year-and-a-half away from music, Hwasa hopped back into the pop scene during one of its most vibrant months with solo release “Guilty Pleasure” on Wednesday evening. The Mamamoo songstress said in an online press conference the same day that the three-song package talks about who she is, what she has gone through, and her thoughts and emotions about different phases in life. “I think I went through a wave of emotions and downs musically since I released my last solo

One of the frequently asked questions of Koreans traveling abroad is: “Are you from the North or the South?” The protagonists of Kim Cheol-min’s independent documentary film, “I Am From Chosun,” would answer the question by saying they are from both, or perhaps neither. Kim’s documentary depicts his journey of learning about the Zainichi people in Japan, who are ethnic Koreans who moved to Japan mostly during the early 1900s before the Korean Peninsula was

South Korea said Wednesday it plans to more than double the ceiling on the country's low-interest rate loans to Indonesia over the next five years in a bid to strengthen bilateral cooperation. Under the agreement between the two nations, the Economic Development Cooperation Fund (EDCF) will be expanded to US$1.5 billion in 2022-2026 from the existing $600 million set aside for 2016-2021, according to Seoul's finance ministry. South Korea launched the EDCF program in 1987 in an effort to suppor

Samsung chief's first trip to US in 5 years suggests recovery of tech giant’s global network, leadership revival. But what's next?

Ansan Urban Corp., a corporation run by the local government of Ansan, Gyeonggi Province, is resolving labor-management conflicts and improving workplace culture with the aid of the Korea Labor and Employment Service. The service, a state-run organization under the Ministry of Employment and Labor, offers a wide range of services to help local firms solve a range of labor-involved issues. Ansan Urban Corp. is one of several companies that have successfully improved their labor-management relat

In South Korea, many firms located outside of Greater Seoul suffer difficulties in recruiting young employees, as they continue to move to the capital and nearby areas to find jobs. Ercohs, a baby food company based in Daejeon, faced the same problem in the past. The company had to deal with problems caused by its aging workforce as well as a high turnover rate for young workers. Due to the high turnover rate for young workers, employees who stayed at the company were burdened with additio

SEJONG -- The tally of those subject to the comprehensive real estate holding tax -- individuals or corporations -- exceeded 1 million this year for the first time since the nation introduced the tax in June 2005. According to the National Tax Service, almost 1.03 million individuals and corporations are supposed to pay comprehensive real estate taxes in 2021. The figure consists of 947,000 homeowners and 79,600 landowners. This shows that the number of comprehensive real estate holding tax ta

Posco Chemical Co., a unit of South Korean steel giant Posco, said Wednesday it has completed the construction of a new refractory plant in the southern city of Pohang as part of its efforts to boost production of basic industrial materials. The 49.2 billion won ($41.5 million) plant has an annual production capacity of some 21,700 tons of unfired refractory materials, which will boost the company's combined annual production capacity of the materials by 14 percent to 52,500 tons, it added. Refr

Global shipbuilding conglomerate Hyundai Heavy Industries Group said Wednesday it will establish the world's first technical guidance for offshore green hydrogen plants To that end, the group's affiliates -- Korea Shipbuilding & Offshore Engineering Co. (KSOE) and its subsidiary Hyundai Heavy Industries Co. -- have signed a preliminary deal with ABS, a US ship quality assurance and risk management company. The deal is aimed at setting up the world's first guideline for the design of offsho