The Bank of Korea (BOK) said Thursday its net selling and buying of the US dollar remained on par in the second quarter as part of its efforts to help ease fluctuations in the local currency market. In the first quarter, the BOK sold a net $103 million to stabilize the Korean currency's movement, compared with a net purchase of $11.5 billion three months earlier. The central bank began releasing such data in March 2019 to help boost the transparency of its market stabilization steps. A BOK offic

In comparison of 46 countries, Korea stays at 37th in Q2

For Seoulites, this weekend is a great chance to hike a somewhat challenging historical path in the northern part of Seoul. The 9th Hanyang Doseong Culture Festival under the theme “Sungseong: Embracing the Wishes” will be held both on and offline, including on-site participation for visitors. The festival begins Oct. 1 and continues for 10 days. Hanyang Doseong, also known as the Seoul City Wall, follows the ridges of Bugaksan (Baekaksan), Naksan (Naktasan), Namsan (Mongmyeoks

The members of Seventeen gave fans a glimpse of their shared history divulging episodes from the last six years in a video uploaded on Friday. 　 Members of vocal unit -- Junghan, Joshua, Woozi, Dogyeom and Seungkwan -- were in the first part of the three-part series. 　 “There is no need to worry when we’re doing activities as units,” said Woozi, “I think we’re on the same wavelength.” 　 Every recording is a challenge, admitted Junghan. He almost thought abo

South Korean stocks rebounded Thursday after a two-day loss, as investors bought oversold stocks. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 8.55 points, or 0.28 percent, to close at 3,068.82 points. Trading volume was moderate at about 867 million shares worth some 14.5 trillion won ($12.2 billion), with gainers outnumbering losers 542 to 316. Foreigners bought a net 35 billion won, while institutions sold 225 billion won. Retail inve

Doosan Group said Thursday it has established “Doosan H2 Innovation” to consolidate the group’s hydrogen research and development efforts currently dispersed across different affiliates. According to South Korea’s No. 15 conglomerate, the newly established company will take a central role of the group’s development of solid oxide fuel cells, or SOFCs. SOFCs are third-generation fuel cells that can offer longer life spans and greater efficiency than conventional m

SK Geo Centric has become the first company in South Korea to utilize oil extracted from plastic waste as a feedstock to manufacture petrochemical products, the company said Thursday. Formerly known as SK Global Chemical, the petrochemical subsidiary of SK Innovation began pumping waste plastic oil mixed together with crude oil into the production line of its plant in Ulsan to manufacture various products including gasoline, diesel, aviation fuel and naphtha. “Starting October, SK Geo C

SK Broadband said Thursday that it had countersued Netflix for network usage fees based on a June verdict that favored the South Korean company. The SK Telecom subsidiary, one of the country’s leading broadband internet access providers, said the suit, filed with the Seoul High Court, was a follow-up measure after Netflix failed to respond to SK’s proposals. “Despite the fact that massive investments are made in maintaining the internet network every year and the fact that

The local culture scene has continued to protest the nomination of Ahn Ho-sang as the new head of the Sejong Center for the Performing Arts. Some artists and art groups held a protest Thursday in front of the art center in Gwanghwamun, central Seoul, calling for Seoul Mayor Oh Se-hoon to withdraw the nomination of Ahn as the new CEO of the city-funded art center, citing the blacklist scandal.　 “Ahn is deeply involved in the blacklist scandal. The investigation shows that he is an assail

　Hyundai Motor’s luxury brand Genesis unveiled on Thursday the GV60, its first electric car based on its exclusive EV-dedicated modular platform. 　The coupe-style crossover SUV is fitted with a 77.4 kilowatt-hour battery and can travel up to 451 kilometers on a single charge, the automaker said in a statement. 　Priced at between 60 and 70 million won ($50,570-$59,000), the GV60 comes in three types: rear-wheel drive, four-wheel drive and a four-wheel performance version. 　The GV60 is t

Move to encourage spending causes confusion over where you can use it