South Korea was set Tuesday to launch a new 3,000-ton-class homegrown submarine capable of firing ballistic missiles, the third of its kind designed to boost underwater defense capabilities, the Navy said. A launch ceremony for the new submarine, named after a prominent Korean independence activist, Shin Chae-ho, will take place at the shipyard of Hyundai Heavy Industries Co. in the southeastern city of Ulsan later in the day, according to the military. It is the third and the final of three

A majority of South Korean manufacturers expect their business conditions to worsen in the fourth quarter from three months earlier on a coronavirus resurgence and rising material costs, a poll showed Tuesday. A survey of about 2,300 manufacturing firms put the business sentiment index (BSI) at 91 for the October-December period, down 12 points from the third quarter, the Korea Chamber of Commerce and Industry (KCCI) said. A reading below 100 means companies expecting deteriorating business cond

K-pop sensation BTS will hold a series of live in-person concerts in Los Angeles in November and December after two years away from such events due to the new coronavirus, the band's label said Tuesday. "BTS PERMISSION TO DANCE ON STAGE - LA" will be held at SoFi Stadium on Nov. 27 and 28 and Dec. 1 and 2, according to Big Hit Music. They will be the septet's first live in-person concerts since 2019, when the group performed in Seoul. "The time is approaching when we can dance

Samsung Electronics Co. remained in second place in the global smartphone image sensor market in the first half of the year, a report showed Tuesday, although its share declined from a year earlier. Samsung captured a 25 percent revenue share in the first six months of the year, down from 28 percent a year ago, according to market researcher Strategy Analytics. Sony dominated the market with a 42 percent revenue share, slightly down from 45 percent a year earlier, while OmniVision came in t

WASHINGTON -- The United States is prepared to meet with North Korea without any pre-conditions, a State Department spokesperson said Monday. The US official made the remark when asked if the US will be willing to consider easing sanctions on the impoverished North. "We are prepared to meet with the DPRK without preconditions, and of course, we certainly hope that the DPRK will respond positively to our outreach," said Jalina Porter, principal deputy spokesperson for the State Depart

South Korean battery maker SK Innovation Co. and American automaker Ford Co. said Tuesday they will invest 13 trillion won ($11 billion) to build three electric vehicle batteries in the United States by 2025. A joint venture between the two companies, called BluOvalSK, will build an assembly and battery complex in Tennessee, and two additional battery factories in Kentucky, which will be the single largest investment in Ford's 118-year history, the two companies said in a statement. The three fa

Second Vice Foreign Minister Choi Jong-moon has stressed the importance of a "survivor-oriented" approach to addressing sexual violence in conflict, reiterating South Korea's steadfast commitment to tackling the issue, the foreign ministry said Tuesday. Choi made the remarks during Monday's virtual event, titled "Reparations for Survivors of Conflict-Related Sexual Violence: Status and Prospects," on the sidelines of the UN General Assembly. The Global Survivors Fund, esta

When the COVID-19 pandemic swept the globe last year, the entertainment industry was hit badly with performances and concert tours canceled or postponed one after another. Ray Winkler, CEO and design director of STUFISH Entertainment Architects, took the crisis as an opportunity to rethink where his team and company stood and how they could overcome the challenge. “Change is constant. If you can’t adapt to the change, you are done. Stufish is still here because we have been able

At the UN General Assembly last week, President Joe Biden told the world again that America is back at the table. He championed global cooperation as the only way to address today’s global challenges, making clear that it not only benefits the international community but is essential for American interests and national security too. It was a direct repudiation of the nationalist “America First” approach taken by then-President Donald Trump at the same assembly four years ago.