Tech giants, convenience stores and credit card firms offer discounts and specials

South Korea's Defense Minister Suh Wook held talks with the visiting Australian Army chief in Seoul on Monday to discuss defense industry cooperation and regional security, his office said. During the talks with Australian Chief of Army Lt. Gen. Rick Burr, Suh noted that a South Korean company has been chosen as the preferred bidder to supply self-propelled howitzers to the Australian military, and called for deeper bilateral cooperation in the artillery sector. The two sides also agreed to de

KT will pay 35 billion-40 billion won ($29 million-$33 million) to subscribers in compensation for the massive network outage last week, the country’s No. 2 telecom operator in terms of revenue said Monday.  In a press conference, executives of the firm acknowledged that the Oct. 25 incident was a human-caused disaster caused by lax oversight on its side and pledged to go “back to basics” to regain confidence from users.  “We deeply apologize for causing incon

Prosecutors sought arrest warrants Monday for three key figures in an urban development scandal on charges of breach of trust and bribery in connection with a lucrative project in Seongnam, south of Seoul. Prosecutors have been looking into suspicions over how a previously unheard-of asset management company, Hwacheon Daeyu, and its seven affiliates reaped astronomical profits from a 2015 project to develop the Daejang-dong district in Seongnam into an apartment complex. The Seoul Central Dist

Korea Aerospace Industries Co. (KAI), South Korea's sole aircraft manufacturer, said Monday it has been selected as the preferred bidder in the government's 877.5 billion won ($747 million) reconnaissance plane bid. The Defense Acquisition Program Administration is expected to sign the deal with KAI next month to push ahead with the project, a KAI spokesman said by phone. Under the deal, KAI will bring four Falcon 2000LXS business jets from French aircraft manufacturer Dassault Aviation and de

City centers in Seoul welcomed back the return of rush hour crowds Monday morning as office workers and students resumed their in-person lives under the government's "living with COVID-19" scheme aimed at bringing the nation gradually back to pre-pandemic normalcy. South Korea activated on Monday the first of the three-stage scheme to gradually phase out coronavirus restrictions as more than 70 percent of the population have been fully vaccinated. Under the latest measure effective

South Korean cosmetics-to-health care conglomerate Aekyung Group said Monday that it has officially launched Aekyung Chemical and appointed Pyo Kyoung-won as the inaugural CEO. Aekyung Chemical was formed by combining the group’s three chemical businesses -- Aekyung Petrochemical, AK ChemTech and the old Aekyung Chemical. In a meeting at Aekyung Tower, the group’s headquarters in Mapo-gu, western Seoul, on Monday morning, the new Aekyung Chemical’s board of directors finali

Ahn’s decision on alliance with main opposition party could be major variable

South Korea’s hydrogen strategy ambitious but ambiguous, leaves key questions unanswered

Kwon Young-soo, the newly appointed CEO of LG Energy Solution, called for an unrelenting focus on battery technology, urging executives and staff to shake off recall fears in his inaugural speech delivered on Monday. “You must have had a lot of worries due to the recent quality issues, but there is no need to be discouraged. As the saying goes, it’s darkest before the dawn, and this is an inevitable process in the long term,” Kwon said in his first message as chief of LG En

Samsung Heavy Industries Co. said Monday that it has raised 1.28 trillion won ($1.1 billion) through the sale of its new shares. The shipbuilder's 250 million new shares were oversubscribed by existing shareholders and its workers, Samsung Heavy said in an emailed statement. The subscription rate was 103.3 percent, while the common shares oversubscribed by the existing shareholders and the workers numbered 17.82 million shares, Samsung Heavy said. Samsung Heavy will offer to the public 73,317

The number of registered vehicles in South Korea grew nearly 2 percent this year to near 25 million, with that of eco-friendly cars topping 1 million units, government data showed Monday. Car registrations came to 24.78 million units as of end-September, up 1.7 percent from the end of last year, according to the data from the Ministry of Land, Infrastructure and Transport. The figure is also up 0.5 percent from three months earlier, with the number expected to exceed 25 million during the firs

When Paulo Bento, head coach of the South Korean men's national football team, scouts strikers, he doesn't just look at their goal totals. After making a surprising choice at the forward position Monday ahead of two World Cup qualifiers this month, Bento said a player's adaptability and tactical fit are just as important as goals. That's how he explained his call-up of Kim Gun-hee, a 26-year-old striker for Suwon Samsung Bluewings in the K League 1. Kim has scored six goals in 20 matches for