Rainbow Bridge World, the South Korean entertainment agency behind all-female band Mamamoo, said Friday that it has filed a registration statement with the country’s financial watchdog and will go public on the nation’s secondary bourse, Kosdaq, in November. According to the statement, the agency aims to issue 1.25 million shares. It plans to offer new stocks for public subscription at a price between 18,700 won ($15.80) and 21,400 won a share. The book-building process, where an u

Posco Chemical was chosen as the “Rising Star Company” at the 2021 Global Metals Awards, hosted by S&P Global Platts, the company said Friday. It is Posco Chemical’s first overseas award. “Posco Chemical has built a large, successful business in the lithium-ion battery market and forms a crucial part of Posco Group’s value chain integration for green mobility solutions. The company has a significant presence in the secondary battery materials business, which it

South Korea and the United States held working-level diplomatic talks in Hawaii to review progress in the implementation of their latest summit agreement, Seoul's foreign ministry said Friday. Ko Yun-ju, the ministry's director general for North American affairs, and Mark Lambert, US deputy assistant secretary of state for Japan and South Korea, attended the third Bilateral Policy Dialogue (BPD) held on Thursday (local time), the ministry said. The two sides discussed pending diplomatic and s

South Korea's military reported nine additional COVID-19 cases Friday, bringing the total caseload among its personnel to 1,960, the defense ministry said. Six Army soldiers, including five trainees at boot camps, and a Navy member tested positive for the virus, according to military data. A civilian employee of the defense ministry in Seoul was also found to have contracted the virus. Since last week, three COVID-19 cases, including the latest, have been reported from the ministry compound.

The top nuclear envoys of South Korea, the United States and Japan will meet trilaterally in Washington next week to discuss joint efforts to bring North Korea back to dialogue, the foreign ministry said Friday. The planned talks among Seoul's chief nuclear negotiator, Noh Kyu-duk, and his US and Japanese counterparts, Sung Kim and Takehiro Funakoshi, come as Seoul is stepping up diplomacy to salvage its peace drive following a recent series of North Korean missile launches, including a hyperso

The real estate investment trust (REIT) unit of major bank holding firm NH Financial Group Inc. said Friday it is seeking to get listed on the South Korean main stock market in November. NH All One REIT said it began its initial public offering (IPO) process as its registration statement, which was filed with the country's financial watchdog late last month, came into effect. The company said it is planning to sell 28.1 million shares and raise 140.5 billion won ($119 million), with its IPO pr

The current social distancing rules will be extended for another two weeks, with some easing of the restrictions, officials said Friday. Prime Minister Kim Boo-kyum said Friday, “We would like to take a step closer to daily recovery while reducing the risk of infection by easing quarantine rules centered on those who have been vaccinated.” Starting next week, up to eight people will be able to gather in the Greater Seoul area at any time, as long as four in the group are fully vac

WASHINGTON -- South Korea's finance minister on Thursday voiced concerns about the US's request for Korean chipmakers to share information on their supply chains. Finance Minister Hong Nam-ki relayed Korean chipmakers' concerns about Washington's request during his meeting with US Treasury Secretary Janet Yellen in Washington D.C., according to his ministry. The meeting was held to discuss bilateral and global economic issues, including global supply chain disruptions. It marked their first ga

A North Korean defector has been sentenced to six months in prison for breaking into a police station in Seoul and pouring flour over an officer as part of streaming online, judicial sources said Friday. The 24-year-old, whose identity was withheld, climbed over a wire fence into Gwanak Police Station in southern Seoul in June, charged toward the officer on duty and dumped flour over him, saying he would test police capability to respond to an infiltration. The defector was also charged with d

South Korea's exports of automobiles fell more than 20 percent last month, ending eight months of on-year growth, amid the extended global supply shortage of automotive chips and fewer working days, data showed Friday. Outbound shipments of automobiles reached 151,689 units in September, down 20.7 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. In terms of value, exports also marked a 6.1 percent on-year decrease to $3.56 billion, the

The Bank of Korea will continue adjusting its accommodative monetary policy and determine the timing of another rate hike in a way that could ease "financial imbalances" caused in part by rising household debt, Gov. Lee Ju-yeol said Friday. Lee made the remarks days after the central bank kept its policy rate unchanged at 0.75 percent for October but hinted at the possibility of an additional rate increase before the end of this year to rein in inflation and household debt. "Fin

South Korea's daily new COVID-19 cases stayed in the 1,000s for the seventh straight day Friday as the government announced eased social distancing rules ahead of a gradual return to normal life. The country added 1,684 more COVID-19 cases, including 1,670 local infections, raising the total caseload to 339,361, according to the Korea Disease Control and Prevention Agency (KDCA). The daily number of COVID-19 cases has stayed in the quadruple digits since July 7. The country added eight more

With the reorganization of global supply chains and accelerating digital transformation since the outbreak of the COVID-19 pandemic, securing cutting-edge technologies in fields such as artificial intelligence and semiconductors is becoming ever more crucial. In addition to investing heavily in technological development, countries around the world are strengthening protection of trade secrets and control of technological exports to prevent leaking their core technologies to rivals. The South K

KIPO commissioner vows to bolster support for SMEs in patent disputes overseas with ‘tech police’