With new chief Lee Jae-yong bogged down with legal woes, direction for new Samsung seems unclear

Bank stocks in South Korea have long been regarded as an unappealing option for investors, but analysts say it may be their time to shine as the economy makes progress toward normalization and interest rates are no longer at record lows. The country’s big four banking groups -- KB Financial, Hana Financial, Shinhan Financial and Woori Financial -- are expected to see their combined profits grow by double digits in the quarter that ended in September, according to FnGuide, a financial inf

Lee Tae-won, a renowned South Korean movie producer, died Sunday after his health waned following an accidental fall last year, according to his aides. He was 83. Lee died in the afternoon at Yonsei University's Severance Hospital in Seoul, where he has been under treatment following the accident in May last year. His memorial altar is expected to be set up at the same hospital. Lee first started his career as a movie producer with a film, entitled "A long affection," in 1959. But hi

South Korea’s Science Ministry said Sunday that researchers will begin looking into why the country’s first domestically-built rocket Nuri, or Korean Satellite Launch Vehicle II, failed to put a dummy satellite into orbit in its maiden flight last week.  The Korea Aerospace Research Institute that led the Nuri project will form a task force to examine data from the Oct. 21 test to determine what caused the shorter-than-programmed burning of the rocket’s third engine. 

Li-ion-only portfolio missing out on diversifying needs, pressured in all fronts, experts say

South Korea’s coal briquette consumption is likely to drop below 500,000 tons for the first time this year on lower demand and higher coal prices. According to the Korea Mine Rehabilitation and Mineral Resources Corp. on Sunday, domestic coal briquette consumption fell to 508,000 tons last year, a 21 percent drop on-year. The consumption of coal briquettes has been continuously falling since 2014. The number dropped from 1.9 million tons in 2013 to 1.6 million tons in 2014. The biggest

South Korea‘s initial public offering market that hit a record high in the first half has been suffering plunging profit rates since July, market insiders said Sunday. According to Korea Exchange, the country’s stock market operator, stocks of 40 companies sold through public subscriptions saw an average of 27.5 percent in profit from July through Friday. The figure has nearly shed half compared to the 53.8 percent average profit rate of 52 companies’ stocks that went public

Edison, KDB make contrasting remarks over asset-backed financing to normalize ailing SUV maker

SEJONG -- Land owned by foreigners in South Korea has reached an all-time high in terms of combined size, amid their active purchases of apartments or sites for business, such as manufacturing and leisure facilities, government data showed. According to the Ministry of Land, Infrastructure and Transport, foreigners owned 253.3 million square meters of land as of December 2020, which is the latest figure available. Though this accounts for less than 0.3 percent of the nation’s entire terri

Disapproval of three front-runners hovers around 60% amid various scandals, allegations

South Korean defense companies have signed business contracts worth $128 million in total during a biennial arms exhibition held south of Seoul last week, its organizers said Sunday. More than 250 local companies joined the five-day Seoul International Aerospace & Defense Exhibition (ADEX), which ended Saturday. The event marked a rare opportunity for the companies to explore new opportunities in the midst of the COVID-19 pandemic. In addition to the finalized contracts, local companies ha

Amid stalemate in investigation, prosecutors fail to prove Yoo’s breach of duty charges

Government likely to temporarily cut fuel tax by 15% to ease inflationary pressure

Doosan Bears' left-hander Ariel Miranda is the new single-season strikeout king in South Korean baseball. Miranda got his 224th strikeout of the 2021 Korea Baseball Organization (KBO) season Sunday against the LG Twins, surpassing a 37-year-old record held by the late Lotte Giants legend Choi Dong-won. Miranda's record-breaking strikeout came against Hong Chang-ki for the second out in the top of the third inning at Jamsil Baseball Stadium in Seoul. Miranda had thrown 169 1/3 innings before S

The winners of this year’s TV Movie Golden Bird Prize at the Seoul International Drama Awards talked about the main topic of their film, “Federica Montseny, the Woman Who Speaks”: compromising one’s ideology to achieve a bigger goal. The Spanish film, co-written by Russo Felsen Rafael Eduardo and Mireia Llinas Ventura, is based on a true story. It depicts the life of Spanish anarchist leader Federica Montseny (played by Marcia Cistero), who went on to serve as the countr