Edison Motors, a little-known electric bus manufacturer, seems likely to emerge as the preferred bidder for SsangYong Motor, South Korea’s longest-running car brand, which has experienced debt troubles in recent years. The Seoul Bankruptcy Court said a consortium led by Edison Motors is the only remaining bidder, effectively making it the preferred buyer. Its competitor, another consortium led by EV firm Electrical Life Business and Technology, was excluded from the list as it failed

A special exhibition “Remembering Lee Hong-kun in the Autumn of 2021” is being held at the Lee Hong-kun Gallery of the National Museum of Korea. The exhibition, which will run through the end of this year, is being held to mark the 40th anniversary of the establishment of donator Lee Hong-kun’s exhibition hall at NMK back in 1981. “At the time, 4,941 artworks were thought to have been donated,” NMK curator Lee Su-kyung said. After receiving them, the museum sort

Incheon’s Yeonsu-gu will host the fifth International Conference on Learning Cities, which kicks off next week with an aim to reinforce the capacity of city authorities and relevant stakeholders to create, adapt and improve their lifelong learning policies for health education and resilience.  The international event will take place Oct. 27-30 at Songdo Convensia under the theme “From emergency to resilience: Building healthy and resilient cities through learning.” Some

“A History of the Korean Ginseng Industry,” a book that unravels the history of Korean ginseng from an industrial perspective, has been published in English. According to Korea Ginseng Corp., the publisher of the book, it is an English version of the original that was written in Korean and published in 2019, with updates to reflect changes over the past years. Different from the Korean version that comes in two volumes, the English one is one volume divided into seven parts. It

PM seeks cooperation from Japan, Russia in rescue efforts

Discussions needed on the “manageable” fatality rate ahead of South Korea’s return to normal next month

Global credit appraiser Fitch Ratings said Wednesday that it would maintain South Korea’s stable credit rating and keep its economic growth projection positive, citing the country’s economic resilience. During a webinar hosted by Fitch on assessing regional outlooks, Jeremy Zook, a director at Fitch Ratings, reaffirmed the credit rating for Asia’s fourth-largest economy at AA-, the fourth-highest level in the agency’s system, in line with its July projection. It has rema

US-based investment manager BlackRock has become the third-largest shareholder of energy services company Hanwha Solutions, a filing showed Wednesday. BlackRock’s 11 affiliated entities were holding a combined 5.08 percent stake in Hanwha Solutions -- which is dedicated to petrochemicals, advanced materials and solar energy -- as of Friday, according to the disclosure filed with the Financial Supervisory Service. Solely on Friday, BlackRock had invested 65.4 billion won ($55.6 million)

South Korea’s first domestically developed satellite launch vehicle moved to launch pad

The LG Arts Center is gearing up to begin a new chapter in the district of Magok, western Seoul. The art center, managed by LG’s nonprofit organization the LG Yonam Cultural Foundation, is to move to the Magok area in October 2022, joining the LG Group’s R&D complex LG Science Park. In July, the center wrapped up its era in Yeoksam, Gangnam -- where it had been situated for some 20 years since its opening -- with its last production at the theater. “We focused on the p

Among major Korean conglomerates, Kumho Group has been under the microscope of Korea’s Fair Trade Commission the most, a lawmaker revealed Wednesday. According to data submitted by the FTC to Rep. Kim Hee-gon of the main opposition People Power Party, the state-run antitrust watchdog’s Business Group Bureau in charge of overseeing company irregularities has conducted 10 investigations into Kumho over the past four years. Since September of 2017 when the bureau was established up

In response to the worldwide sensation of “Squid Game,” local governments aim to promote the cities as appealing tourist attractions using the hit Netflix show. Locations that appeared or were mentioned in the series are turning into new tourist sites, and childhood games are being developed as hands-on experiences to boost Korean tourism, which has suffered greatly from the pandemic-caused slump. Incheon Tourism Organization made an online post Friday to introduce some filming loc