Squid Game Coin, a digital token based on the popular Netflix original Korean drama series of the same name, collapsed to zero on Monday after its creators took off with the approximately 2.5 billion won ($2.13 million) invested in the coin, according to news reports. The crypto coin once surged to as high as 3.4 million won before its unexpected but eventual collapse Monday, according to Coin Market Cap, a global cryptocurrency tracker. Ten minutes after it reached its peak, the cash invested

South Korean stocks closed higher for the second straight day Tuesday, as investor sentiment was buoyed by positive outlooks on global supply bottlenecks and other key economic issues. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 34.55 points, or 1.16 percent, to close at 3,013.49 points. Trading volume was moderate at about 513 million shares worth some 9.5 trillion won ($8.08 billion), with gainers outnumbering losers 657 to 187. F

Hyundai Motor Group said Tuesday its mobility and software developers and leaders of research and development will speak about the conglomerate’s future technologies at an online conference from Nov. 10-11. 　Albert Biermann, head of Hyundai-Kia’s R&D division, will talk about where the group stands now in research and development, and where it is headed to, how it is speeding up software development to provide a platform that hyper-connects the user and the vehicle. 　Cho Kyo-wo

Workers and restaurant owners have mixed reactions to return of drinking get-togethers

South Korea’s JB Financial Group said Tuesday it has joined a UN-convened alliance of global banks, committed to aligning their portfolios with net-zero emissions by 2050. The holding group of regional Jeonbuk Bank and Kwangju Bank said its latest move to join the Net-Zero Banking Alliance was to uphold its environmental, sustainable and governance goals. The alliance represents more than a third of global banking assets, with a total of 87 members from 36 countries, including investme

Retail conglomerates’ record sales reflect consumers’ pent-up demand

SK Group Chairman Chey Tae-won has vowed to spend about $26 billion on electric vehicle (EV) batteries, hydrogen and other eco-friendly businesses in the United States in a move to join US efforts to reduce greenhouse gas emissions. The figure is part of $52 billion set aside by South Korea's No. 3 conglomerate to invest in the US by 2030. Chey said SK is aiming to cut carbon emissions of 200 million tons, which account for 1 percent of the global target of reducing carbon dioxide emissions of

When Super Junior D&E was formed in 2011 as a subunit of the popular boy band Super Junior, its members Donghae and Eunhyuk never expected it would remain active even after 10 years. The two, both born in 1986 and having been with the group since they were trainees, looked back on their past years during an online press conference held Tuesday to promote their first full-length album. The new release will drop at 6 p.m., ahead of the unit's 10th anniversary next month. "Super Junior D

The top nuclear negotiators of South Korea and Japan held phone talks Tuesday to explore measures for progress in stalled denuclearization efforts, Seoul's foreign ministry said. Noh Kyu-duk, the special representative for Korean Peninsula peace and security affairs, and his Japanese counterpart Takehiro Funakoshi shared their assessments of the regional security situations and discussed ways to achieve lasting peace, according to the ministry. The two sides agreed to closely work together for

In a world first, SK Chemicals has begun mass-producing chemically recycled copolyester, a synthetic plastic widely used in packaging, the firm said Tuesday. According to the South Korean chemical company, it will produce more than 10,000 metric tons of chemically recycled plastic and supply it to cosmetics brands at home and abroad. “Not a single company in the world has ever mass-produced plastic via chemical recycling because it requires a secure supply chain of plastic waste as wel

Pope Francis is unlikely to visit North Korea in the winter, although it is difficult to predict when the trip will happen, the Cheong Wa Dae spokesperson said Tuesday. President Moon Jae-in asked the pope during their meeting at the Vatican last week to visit North Korea to help foster peace on the Korean Peninsula. The pope responded that he would do so if he received an invitation from the North. "Various efforts are under way, but it's difficult to predict the timing," Cheong Wa

SK Innovation said Tuesday it will capture 300,000 metric tons of carbon emitted at its petrochemical plant in Ulsan and sell it as industrial gas starting next year. According to the South Korean battery-to-petrochemical giant, it is already capturing carbon generated at factory No. 1 inside its Ulsan facility and making a profit by selling it. After the carbon is collected, it is purified and then used as industrial gas for the etching process of semiconductors, welding, dry ice and plant cul

Democratic Party gets head start in tight race for top post