South Korea's military reported six additional COVID-19 cases Tuesday, bringing the total caseload among its personnel to 2,017, the defense ministry said. A Navy officer and a draftee stationed in Pyeongtaek, 70 kilometers south of Seoul, tested positive after a virus case was reported at their base, according to the ministry. An officer of a unit under the direct wing of the defense ministry in Nonsan, some 200 kilometers south of Seoul, tested positive after a family member was infected.

South Korea said Tuesday it plans to resume discount coupon programs aimed at boosting domestic demand as the country is preparing to move into a phase of "living with COVID-19" in early November. The country has suspended the coupon programs in six sectors, including sports, accommodations, tourism and cultural performances, due to the resurgence of virus cases. Only online use of some discount coupons, such as food delivery and agricultural products, has been allowed. Finance Minis

South Korea said Tuesday it will enforce stricter lending rules based on borrowers' repayment capability at an earlier date than initially scheduled to curb soaring household debt that has emerged as one of the most serious potential risks on the economy. Loans for home rentals, however, will not be subject to the government's tightened lending rules until the end of this year as part of efforts to supply credit for those in actual need of borrowing. Those are part of a string of measures the

South Korea's top diplomat will visit Russia this week to discuss recent developments related to regional security and bilateral ties, Seoul's foreign ministry said Tuesday. Foreign Minister Chung Eui-yong plans to embark on a three-day trip to Moscow later in the day to meet with his Russian counterpart Sergey Lavrov and commemorate the 30th anniversary of the establishment of bilateral ties, the ministry said. They will hold a meeting on Wednesday to discuss a wide range of topics, includi

Sales of imported commercial vehicles in South Korea rose 14 percent in September from a year earlier on recovering demand amid the extended coronavirus pandemic, an industry association said Tuesday. The number of newly registered imported commercial vehicles climbed to 412 units last month from 363 a year earlier, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement. Sales of all imported commercial vehicles increased last month on rising sales of MAN, Merc

South Korea and Cambodia officially signed a free trade agreement (FTA) Tuesday in a move to deepen their economic ties, Seoul's industry ministry said. Trade Minister Yeo Han-koo and his Cambodian counterpart, Pan Sorasak, officially signed the pact during a virtual ceremony earlier in the day, according to the Ministry of Trade, Industry and Energy. South Korea struck the deal with Cambodia in February this year and wrapped up domestic procedures, including parliamentary approval. Under the

Major South Korean credit card issuer Samsung Card Co. said Tuesday its net profit climbed nearly 9 percent in the third quarter of the year on a recovery in consumer spending. Consolidated net income stood at 139.5 billion won ($119.5 million) in the July-September period, up 8.9 percent from a year earlier, the company said in a regulatory filing. Operating profit swelled 11.5 percent on-year to 193.4 billion won, with sales soaring 21.8 percent to 940.3 billion won. The operating profit wa

South Korea's new COVID-19 cases stayed below 1,500 for the third consecutive day Tuesday, less than a week to go before the beginning of a gradual return to normal life with eased social distancing rules. The country added 1,266 more COVID-19 cases, including 1,246 local infections, raising the total caseload to 354,355, according to the Korea Disease Control and Prevention Agency (KDCA). The latest tally inched up from 1,190 new cases reported the previous day, though it remained under 1,500

Three-quarters of South Koreans agree with the need to shift to the “living with COVID-19” scheme, according to a recent poll, as the government is moving to phase out coronavirus restrictions under the new policy next month. According to the survey conducted early this month with 1,083 people aged 19 to 69, 76.5 percent expressed support for the government‘s planned transition to coexistence with the coronavirus. In a similar poll carried out in August, only 56.9 percent wer

North Korea has conducted coronavirus tests on around 42,000 people but found no infections, a World Health Organization (WHO) report showed Tuesday. A total of 678 North Koreans underwent testing for the virus from Oct. 8-14, but all were found negative, according to the WHO's COVID-19 weekly situation report Of the newly tested North Koreans, 113 people had flu-like illness or acute respiratory infections, while the rest were healthcare workers, it said. The latest testing brings the total

Having recently failed in their bid to win three major titles this year, South Korean football club Ulsan Hyundai FC will try to stay in the hunt for two trophies this week. Ulsan, currently in second place in the top-flight K League 1, will host the K League 2 club Jeonnam Dragons in the semifinals of the Korean FA Cup on Wednesday. The kickoff at Munsu Football Stadium in Ulsan, some 415 kilometers southeast of Seoul, is 7 p.m. The other semifinal contest, between Gangwon FC and Daegu FC, wi

South Korean stocks opened higher Tuesday, tracking overnight gains on Wall Street that stemmed from expectations for strong corporate earnings. The benchmark Korea Composite Stock Price Index (Kospi) rose 14.33 points, or 0.47 percent, to 3,034.87 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq composite added 0.9 percent, and the Dow Jones Industrial Average gained 0.18 percent. Market bellwether Samsung Electronics added 0.43 percent to 70,500 won, and No. 2 chipmaker

SK hynix Inc., South Korea's No. 2 chipmaker, reported strong third-quarter earnings Tuesday on the back of solid memory chip demand and rising prices. Net profit for the three months that ended in September leaped by 205.7 percent from a year earlier to 3.31 trillion won ($2.8 billion). Operating profit came to 4.17 trillion won, the highest since the fourth quarter of 2018. Sales increased 45.2 percent to a record of 11.8 trillion won during the same period, marking the second consecutive qu

The value of derivatives-tied securities issued in South Korea plumbed a near eight-year low in the first half of the year amid the bullish run of major global stock markets, data showed Tuesday. The amount of equity-linked securities (ELS) and derivatives-linked securities (DLS) outstanding came to 80.2 trillion won ($68.5 billion) as of end-June, the lowest level since the end of 2013, according to the data from the Financial Supervisory Service. Those products are structured to track the pe