South Korean oil refiners posted the first on-year, third-quarter increase in exports in about 18 months, data showed Tuesday, on the back of reviving global demand amid an easing of COVID-19 pandemic curbs. The combined shipments of oil and petroleum products by SK Energy Co., GS Caltex Co. S-Oil Corp. and Hyundai Oilbank Co., reached 111.8 million barrels in the July-September period, up 0.6 percent from a year earlier, according to a report by the Korea Petroleum Association. This marked a

Some 2.4 million doses of Moderna’s COVID-19 vaccine that Samsung Biologics has helped manufacture are being supplied for domestic use for the first time, South Korea’s Ministry of Health and Welfare said Tuesday. The ministry said the 2.4 million doses are among the first batch of Moderna’s vaccine from the plant in Incheon. The country’s drug regulators authorized the Samsung Biologics-produced doses for emergency use Monday, the ministry said, which differs from th

Lee Jae-myung, the presidential nominee of the ruling Democratic Party (DP), registered with the national election watchdog as a preliminary presidential candidate on Tuesday. Lee's aides, DP Reps. Park Hong-keun and Park Chan-dae, filed the registration on the candidate's behalf at the National Election Commission's office in Gwacheon, 18 kilometers south of Seoul. The move came the same day Lee stepped down as governor of Gyeonggi Province to focus on his presidential campaign. "I begi

A Seoul court questioned a prosecutor Tuesday to determine whether to issue an arrest warrant for him over allegations he conspired with the main opposition party to investigate pro-government figures when opposition presidential contender Yoon Seok-youl was in office as prosecutor general. The Corruption Investigation Office for High-ranking Officials (CIO) sought the warrant for Son Jun-sung on charges of asking a prosecutor-turned-lawmaker of the main opposition People Power Party to file co

South Korean construction equipment maker Hyundai Doosan Infracore Co. said Tuesday it has won orders for 138 units of construction equipment from South America. Under a deal with Chilean wood maker Arauco, Hyundai Doosan Infracore will provide 60 excavators, the company said in an emailed statement. Another deal with Chile's major mining and construction company Besalco calls for Hyundai Doosan Infracore to ship 28 units of construction equipment, including excavators and wheel loaders. Hyun

South Korea and Chile will hold their sixth round of negotiations this week on updating their bilateral free trade agreement (FTA) that went into effect in 2004, Seoul's trade ministry said Tuesday. The three-day talks, set to begin later in the day via teleconferencing, will focus on expanding the scope of free trade and updating terms of the 15-year-old FTA to better reflect changing trade and economic circumstances, according to the Ministry of Trade, Industry and Energy. The two sides will

South Korea's military reported six additional COVID-19 cases Tuesday, bringing the total caseload among its personnel to 2,017, the defense ministry said. A Navy officer and a draftee stationed in Pyeongtaek, 70 kilometers south of Seoul, tested positive after a virus case was reported at their base, according to the ministry. An officer of a unit under the direct wing of the defense ministry in Nonsan, some 200 kilometers south of Seoul, tested positive after a family member was infected.

South Korea said Tuesday it plans to resume discount coupon programs aimed at boosting domestic demand as the country is preparing to move into a phase of "living with COVID-19" in early November. The country has suspended the coupon programs in six sectors, including sports, accommodations, tourism and cultural performances, due to the resurgence of virus cases. Only online use of some discount coupons, such as food delivery and agricultural products, has been allowed. Finance Minis

South Korea said Tuesday it will enforce stricter lending rules based on borrowers' repayment capability at an earlier date than initially scheduled to curb soaring household debt that has emerged as one of the most serious potential risks on the economy. Loans for home rentals, however, will not be subject to the government's tightened lending rules until the end of this year as part of efforts to supply credit for those in actual need of borrowing. Those are part of a string of measures the

South Korea's top diplomat will visit Russia this week to discuss recent developments related to regional security and bilateral ties, Seoul's foreign ministry said Tuesday. Foreign Minister Chung Eui-yong plans to embark on a three-day trip to Moscow later in the day to meet with his Russian counterpart Sergey Lavrov and commemorate the 30th anniversary of the establishment of bilateral ties, the ministry said. They will hold a meeting on Wednesday to discuss a wide range of topics, includi

Sales of imported commercial vehicles in South Korea rose 14 percent in September from a year earlier on recovering demand amid the extended coronavirus pandemic, an industry association said Tuesday. The number of newly registered imported commercial vehicles climbed to 412 units last month from 363 a year earlier, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement. Sales of all imported commercial vehicles increased last month on rising sales of MAN, Merc

South Korea and Cambodia officially signed a free trade agreement (FTA) Tuesday in a move to deepen their economic ties, Seoul's industry ministry said. Trade Minister Yeo Han-koo and his Cambodian counterpart, Pan Sorasak, officially signed the pact during a virtual ceremony earlier in the day, according to the Ministry of Trade, Industry and Energy. South Korea struck the deal with Cambodia in February this year and wrapped up domestic procedures, including parliamentary approval. Under the

Major South Korean credit card issuer Samsung Card Co. said Tuesday its net profit climbed nearly 9 percent in the third quarter of the year on a recovery in consumer spending. Consolidated net income stood at 139.5 billion won ($119.5 million) in the July-September period, up 8.9 percent from a year earlier, the company said in a regulatory filing. Operating profit swelled 11.5 percent on-year to 193.4 billion won, with sales soaring 21.8 percent to 940.3 billion won. The operating profit wa

South Korea's new COVID-19 cases stayed below 1,500 for the third consecutive day Tuesday, less than a week to go before the beginning of a gradual return to normal life with eased social distancing rules. The country added 1,266 more COVID-19 cases, including 1,246 local infections, raising the total caseload to 354,355, according to the Korea Disease Control and Prevention Agency (KDCA). The latest tally inched up from 1,190 new cases reported the previous day, though it remained under 1,500