The ruling Democratic Party's presidential nominee, Lee Jae-myung, on Sunday insisted again on giving additional universal COVID-19 relief grants, saying excess tax revenue is expected to amount to 40 trillion won ($34 billion). "Is it right for the people of a well-off nation to be poor?" Lee said in a Facebook posting, after his opposition rival, Yoon Seok-youl of the People Power Party, voiced opposition to offering universal relief grants. "The real gross domestic product (G

A senior official of General Motors will visit South Korea this week, sources said Sunday, raising expectations he could unveil new production plans for the Korean unit of the US carmaker. Steven Kiefer, president of General Motors' international operations, will arrive in South Korea on Monday for a five-day stay, according to the sources from the labor union of GM Korea. Kiefer is expected to visit GM Korea's plants, including those in Bupyeong and Changwon, and meet officials of the state-

Seoul struggles to find alternative source of diesel exhaust fluid, but no immediate solution in sight

Lenders offer lucrative early retirement packages to slash labor costs

Green washing refers to abusive marketing activities that exaggerate, misrepresent and mislead about the company’s eco-conscious behavior, products or financing. The tendency of companies to oversell is expanding from environmental to social areas and coining new color-themed names. It is true that false ESG communication could happen unintentionally. Companies must carefully pick the words they use in communicating corporate sustainability practices because inspectors and civil society ar

Stocks that began trading through blockbuster initial public offerings this year might see a downturn in stock prices as lockup periods that hindered large shareholders from selling expire this week, according to market insiders Sunday.　 A stock lockup is a device to prevent large shareholders from selling their shares too quickly and causing a sudden change in stock prices after a company goes public. Institutional investors are expected to trade roughly 11 trillion won ($9.3 billion) worth o

If it were not for all the people wearing masks, it would be fair to say that multiplex theater CGV Yongsan in central Seoul was back to normal on Saturday night -- just as it used to be before COVID-19, especially in vaccine-pass auditoriums. Changes were evident at the snack bar, which had very few customers a week earlier. The theater smelled of popcorn, people were standing in front of the kiosks to buy food, and staff were shouting customer numbers at the pick-up counter. These changes we

The number of seriously ill COVID-19 patients has risen steadily since Nov. 1, when rules were eased for public gatherings and working hours at public facilities such as restaurants and cafes. The change came into effect as part of a step-by-step transition by health authorities to remove all restrictions by February. This weekend some 3,000 South Koreans attended rallies in downtown Seoul, while many others took advantage of the increased freedom in public places. But Korea is seeing an incr

Financial firms say digital assets ‘too big to ignore’

Lee and Yoon need to win over young people and women, resolve allegations

Eyes on whether probe will look into Lee Jae-myung’s aides

People flocked to churches and temples in South Korea on Sunday to attend worship services on the first weekend since the country began easing virus restrictions as part of steps to return to pre-pandemic normalcy. South Korea on Monday kicked off the first of the three-stage "living with COVID-19" scheme to gradually phase out coronavirus restrictions as more than 70 percent of the population have been fully vaccinated. Under the eased rules, in-person worship services are now allo

Prices of instant noodle products rose 11 percent from a year ago in October, the largest jump since 2009, leading an overall increase in food prices, government data showed Sunday.  According to the state-run Statistics Korea, ramen prices reached the highest on record last month, growing by the largest margin since February 2009, when the country saw a 14.3 percent growth in instant noodle prices.  The market’s four main players -- Nongshim, Ottogi, Samyang and Paldo --have a

Turkey’s investment climate has been significantly improved through reforms offering protection for investors and equal treatment for cross-border business, Turkish deputy chief of mission Omer Celikkol said at the Eurasian Economic and Cultural Forum on Wednesday. Delivering the opening remarks at the forum’s fourth weekly gathering, Celikkol highlighted advantages Turkey has to offer, including the country’s diversified economy, a youthful population with about 50 percent un

Pirate attacks on South Korean ships dropped nearly 30 percent this year mostly due to a decline in cases in waters off the piracy-prone western Africa, the maritime ministry said Sunday. The number of pirate attacks targeting South Korean ships came to 97 during the January-September period, down 27 percent from the previous year's 132 cases, according to the ministry. The decline stemmed mostly from a fall in attacks in waters off western Africa, apparently thanks to recently beefed-up anti-