Lee Jae-myung, the presidential nominee of the ruling Democratic Party, on Thursday promised to delay taxation of virtual assets and increase its deduction limits, a move that is seen as targeting young voters in the upcoming presidential election. "The foundation of taxation is trust, and we need to make a taxation system which people can trust," Lee wrote on his Facebook page. "Rushed taxation without preparation cannot earn justification, and could cause tax resistance and co

A woman who was convicted of killing her own eight-year-old daughter out of anger over discord with her live-in partner was sentenced to 22 years in prison by an appellate court Thursday. The 44-year-old woman, whose name was withheld, was arrested early this year for murdering her daughter, who was sleeping at their home in Incheon, west of Seoul, by blocking her nose and mouth on Jan. 8. The girl's body was found by the woman's common-law partner one week later. The woman reportedly told pol

South Korea and the United States have agreed to launch a ministerial-level dialogue on energy policy to strengthen cooperation on clean energy and climate challenges, Seoul's industry ministry said Thursday. The agreement for the launch of the Energy Policy Dialogue (EPD) was made during the meeting between South Korea's Industry Minister Moon Sung-wook and US Energy Secretary Jennifer Granholm in Washington on Wednesday (Washington time). The new platform aims to promote collaboration across

President Moon Jae-in on Thursday called for business leaders of the Asia-Pacific Economic Cooperation (APEC) to show an act of solidarity to help the world achieve carbon neutrality, warning humanity's future hinges on today's actions. "Coal and oil can no longer be sustained as energy sources," Moon told the virtual APEC CEO Summit in a keynote speech. "We must lead a great transformation of civilization to new energy solutions." Achieving carbon neutrality and combating

Seoul Metropolitan Government will invest 241.8 billion won ($204 million) over five years as part of its plans to transform the city into a global financial hub, the city said Thursday. The city also plans to establish an agency for overseeing foreign investment in the city, with the goal of attracting more than 250 foreign financial firms and attaining foreign direct investment of $30 billion by 2030. The agency, which is set to open in 2024, will work with Korea Trade-Investment Promotion A

A total of 377 people have been apprehended on charges of using violence in disputes over COVID-19 rules between September and October, police said Thursday. Of them, 265 used violence in mask-wearing disputes, followed by 73 accused of assaulting business owners or employees in disputes over operating hours or gathering size limits, police said. The remaining 39 were apprehended for blackmailing or extorting goods from small business owners by threatening to report their violations of social

The South Korean economy is forecast to grow 3 percent next year as private spending is likely to pull off a robust recovery amid the vaccine rollout, the Korea Development Institute (KDI) said Thursday. KDI's 2022 growth outlook, which remained unchanged from its estimate in May, is on par with the 3 percent growth estimates by the government and the Bank of Korea (BOK). The International Monetary Fund forecast 3.4 percent growth for Korea. "On the back of the COVID-19 vaccination drive,

Retails sales in 15 provinces and major cities in South Korea increased in the third quarter as people increased outdoor activity amid the vaccine rollout and the economic recovery, data showed Thursday. Retail sales, a gauge of private spending, rose in nine provinces and six cities in the third quarter, except for the southeastern city of Ulsan, according to the data from Statistics Korea. "The vaccine rollout helped improve consumer sentiment, and the government's provision of emergenc

Urea solution limited to 10 liters per purchase until year-end for passenger cars

Seven of the themed routes of the DMZ Peace Trail, a trail created near the Demilitarized Zone that is accessible to the public, will reopen starting Nov. 20, the Ministry of Culture, Sports and Tourism announced Thursday. The routes include those in Ganghwa, Gimpo, Goyang, Paju, Hwacheon, Yanggu, and Goseong area. The DMZ Peace Trail had initially been created as 10 separate routes. Since April 2019, three of the routes-- Paju, Cheorwon, Goseong -- have opened on a trial basis, attracting so

Hanwha Q Cells, the solar solutions unit of South Korean conglomerate Hanwha Group, said Thursday it is developing an energy storage system (ESS) facility in the US state of Texas, expanding its foothold in the American renewable energy market. The Sputnik ESS facility, to be located in Hunt county, will work as an emergency generator to help the state maintain a stable power supply and ease the power system burden, the company said. It will be installed with batteries of 380 megawatt-hours, e