South Korean stocks opened lower Monday as investors attempted to cash in gains from the key stock index's three-day advance. The benchmark Korea Composite Stock Price Index (Kospi) fell 22.9 points, or 0.76 percent, to 2,992.16 points in the first 15 minutes of trading. The Kospi got off to a lackluster start amid sell-offs in most sectors. In Seoul, Samsung Electronics lost 0.86 percent to 69,500 won, and No. 2 chipmaker SK hynix retreated 1.42 percent to 97,000 won. Top automaker Hyundai

South Korean Finance Minister Hong Nam-ki said Monday the country plans to closely cooperate with local chipmakers to respond to the US' latest request for them to share information on their supply chains. The US Department of Commerce has recently asked global chipmakers, including Samsung Electronics Co., to share information on inventories, demand and other details by Nov. 8 to "help improve trust and transparency within the supply chain." The request spawned concerns about the lea

South Korea's major travel agencies are expected to recover from the prolonged fallout of the COVID-19 pandemic and swing to a profit in 2022 on growing demand for overseas travel, a market tracker said Monday. Local brokerage houses have projected that industry leader HanaTour could register a consolidated operating income of 3.9 billion won ($33 million) in the coming year, a sharp turnaround from an operating loss of 114.9 billion won last year, according to financial information provider Fn

"Venom: Let There Be Carnage" has dominated the South Korean box office in its opening weekend, topping 1 million total admissions, box office data showed Monday. The sequel to 2018's "Venom" sold a combined 778,000 tickets over the Friday to Sunday period, bringing its combined total to over 1.1 million since its release last Wednesday, according to data from the Korean Film Council. It is the third film this year to surpass the 1 million mark in its first week of release,

Gyeonggi Gov. Lee Jae-myung said Monday he feels "betrayed" by a former aide arrested over a massive development corruption scandal, once again disavowing any connection to the case threatening to mar his presidential campaign. Lee made the remark ahead of the National Assembly's audit of his government, referring to Yoo Dong-gyu who served as acting president of Seongnam Development Corps. in charge of the development project in Seongnam, south of Seoul, when Lee was its mayor. Yoo

South Korea plans to decide whether to join a mega Asia-Pacific free trade agreement involving 11 nations as early as this month in an effort to diversify its export portfolio, the country's finance minister has said. Finance Minister Hong Nam-ki made the remarks during his meeting with reporters Thursday (local time) in Washington, D.C. after attending the Group of 20 meeting of finance ministers and central bank governors. South Korea has been "actively" reviewing the joining of th

After being subject to rumors about a possible COVID-19 infection over the weekend, Son Heung-min scored for Tottenham Hotspur in their latest victory. The South Korean star netted his team-leading fourth goal of the Premier League season in their 3-2 win over Newcastle United at St. James' Park in Newcastle, England, on Sunday (local time). Son is tied for fifth overall in the league in goals, three behind co-leaders, Mohamed Salah of Liverpool and Jamie Vardy of Leicester City. Son's goal w

A key partner in a corruption-laden urban development project involving a former aide to the ruling Democratic Party's presidential nominee was detained upon his arrival from the United States on Monday for questioning over bribery and other allegations. Nam Wook is believed to be holding a key to resolving suspicions over how a previously unheard-of asset management firm, Hwacheon Daeyu, and its seven affiliates reaped astronomical profits from a 2015 project to develop the Daejang-dong distri

Around the world, governments are challenging the immense power of Big Tech, causing politically motivated showdowns between their officials and tech companies to become increasingly commonplace. In mid-September, just as voting began in Russia’s parliamentary elections, Apple and Google capitulated to ongoing government demands to remove from their online stores a smartphone app created by allies of opposition leader Alexei Navalny. To channel support away from the Kremlin’s prefer

Plans to survey chipmakers and keep tabs on the supply chain to head off further disruption highlight just how disconnected the US government is from the realities of a $500 billion industry that spans the globe. Instead, American diplomats would do well to work with allies to build an integrated real-time database that will last well beyond the COVID-19 pandemic. A request last month by Commerce Secretary Gina Raimondo for semiconductor companies to detail their sales, products, technology and

South Korea’s Foreign Ministry on Sunday expressed “deep regret” over Japanese Prime Minister Fumio Kishida’s sending of a ritual offering to the Yasukuni war shrine, which is seen by its Asian neighbors as a symbol of Japan’s wartime aggression.  Kishida sent a “masakaki” tree offering under his name as prime minister to celebrate the shrine’s two-day fall festival that runs through Monday, according to Japan’s Kyodo News.  It

South Korea will test its first domestically-developed satellite launch vehicle this week, which, if successful, will mark a major step forward in the country’s space program. The three-stage liquid fuel rocket, also known as Korean Space Launch Vehicle II or the Nuri, will lift off at 4 p.m. on Thursday from the Naro Space Center in Goheung, South Jeolla Province, carrying a 1.5-ton dummy payload. If all things go well, the payload will enter into low orbit 600 to 800 kilometers above

South Korea’s car production in the third quarter this year dropped, marking the lowest level since the 2008 global financial crisis, according to a local industry report, Sunday. According to Korea Automobile Manufacturers Association’s report, the combined number of automobiles domestically manufactured during the July-September period reached 761,975, down 20.9 percent on-year. The figure was the lowest since 2008, when local carmakers’ production reached 760,121 during