The International Monetary Fund maintained its forecast for South Korea’s economic growth for this year at 4.3 percent, while revising down its projection for the global economy, the Ministry of Economy and Finance said Tuesday. The IMF’s latest outlook for Asia’s fourth-largest economy remained unchanged from the earlier figure suggested in July. It is well above the growth estimates made by the government and the Bank of Korea -- 4.2 percent and 4.0 percent, respectively.&

Prosecutors sought an arrest warrant Tuesday for the owner of an asset management firm at the center of a snowballing regional development corruption scandal over allegations his firm received massive business favors in exchange for bribes. Kim Man-bae, a former journalist, is facing a series of allegations in connection with how his previously little-known firm, Hwacheon Daeyu, was selected as a civilian partner for the 2015 development project in the city of Seongnam, south of Seoul, and reap

South Korean drugmaker Celltrion said Tuesday that the company has submitted an application to the European Medicines Agency for approval of the sale of its anti-cancer biosimilar candidate CT-P16. CT-P16 is a biosimilar of Roche’s Avastin, an anti-cancer treatment that kills cancer cells by preventing the growth of blood vessels. Avastin, which can treat numerous cancers, including metastatic colorectal cancer, has been Roche’s bestselling cancer drug. The patents on Avastin, h

Twice entered Billboard 100 at No. 83 with its first English-language single, “The Feels,” according to the newest tally from the publication that became available on Monday in the US. 　 This is the first time the female band hit the chart although its 10th EP, “Taste of Love,” ranked No. 6 on Billboard 200. Twice became the fourth K-pop band to make it on the singles chart, after Wonder Girls, BTS and Blackpink. 　 The single positioned itself as No. 10 and No. 12 on Bil

Samsung Electronics Vice Chairman Lee Jae-yong on Tuesday pledged not to use drugs for any reason at a Seoul court, where he was tried for illegal drug use. He made the promise while attending the court hearing of his trial at Seoul Central District Court. He is accused of having illegally used propofol, a short-acting medication that results in a decreased level of consciousness. During Tuesday’s session, public prosecutors requested the court issue a fine of 70 million won ($58,400)