South Korea will begin administering booster shots for high-risk people, including those aged 60 and older, and medical workers, in the near future, the prime minister said Sunday, amid a surge in new COVID-19 cases following a national holiday. Kim Boo-kyum also noted the Korea Disease Control and Prevention Agency (KDCA) will announce a fourth-quarter inoculation plan, including the booster shot program, Monday. Kim also said starting early next month, the government will shorten the interval

The recent missile tests President Moon Jae-in oversaw and praised marked a milestone that experts say shows a rapidly growing South Korean missile capability. Here are key takeaways on what it means for North Korea and foreign powers. Fending off North Korea South Korea is the first non-nuclear state to have tested a submarine-launched ballistic missile. SLBMs -- which have also been developed by China, France, India, Russia, the UK and the US -- are designed to deliver a fatal second strik

The unification ministry on Sunday described the weekend remarks by North Korean leader Kim Jong-un's sister about the possibility of holding "constructive" discussions on inter-Korean issues as "meaningful." On Saturday, Kim Yo-jong said the North could declare a formal end to the Korean War as suggested by the South and even discuss holding an inter-Korean summit if the South treats the North with "impartiality" and mutual respect. The statement, carried by the Ko

A South Korean worker of a state-run facility currently used by hundreds of evacuees from Afghanistan as a temporary shelter was confirmed to be infected with the new coronavirus Sunday, the Ministry of Justice said. According to the ministry, the employee of the National Human Resources Development Institute in the nation's central county of Jincheon tested positive for the virus. The worker reportedly was not in charge of duties related with the Afghan evacuees. Following the infection, the in

Thirty-three writers from 16 countries to participate under the theme, ‘Awakening’

South Korea’s recent decision to raise electricity prices for the first time in nearly a decade and an expected price surge in home gas is likely to increase inflationary pressure, industry watchers said Sunday. Electricity and home gas prices, which are key components of “public utility charges” -- fees related to supply of electricity, gas, power, water and transport – usually help lower inflationary pressure, with their relatively flat price gains. But the COVID-19 pa

Standard Chartered Korea on Sunday said it has recently launched a promotional event that offers prizes, including a 24-karat gold plated $2 bill, for customers who subscribe to dollar-denominated products for the first time. Customers will receive chances to enter the sweepstake if they subscribe to any dollar-related products including funds, money market funds, savings accounts and insurance. One first prize winner will receive a gold plate weighing 15 grams, while 10 second prize winner

Five groups of media workers urged political parties Sunday to renounce a possible parliamentary vote this week on a bill accused of hurting press freedom, stressing the need to form a consultative body to build social consensus on the issue. The groups, including the Journalists Association of Korea, issued a joint statement, as the ruling Democratic Party hopes for the bill to be passed Monday, following talks with the main opposition People Power Party. The legislation, titled the Press Arbit

Potential post-holiday COVID-19 surge yet to arrive, experts say

The amount of parked money that can be withdrawn any time has surged to an all-time high, data showed Sunday. According to the Bank of Korea, the amount of demand deposit increased by 3.3 trillion won ($2.8 billion) to some 388.7 trillion won as of July. It is the largest amount since the central bank started to collect related data. Market experts suggested that extra cash ready for new investments has few places to go because of the government’s intensifying regulatory moves on the pr

Two weeks ago, I went to the Immersive Van Gogh Exhibit with my mother in Los Angeles. Because she majored in art in college, she knew a lot about Van Gogh. Van Gogh certainly had amazing artistic talent; however, he did not get recognition and respect he deserved. He was poor and relied heavily on his brother for financial assistance. He did not gain reputation and fame during his lifetime. Many years after his death, he was at last recognized for his artistic talent. His paintings are now pric

Despite loss and lingering speculation, Lee Jae-myung’s cumulative vote still far ahead

　Luis Chavit Singson, chairman of the Philippines’ LCS Group of Companies, sees a lot of business potential on South Korea’s eastern coast, having recently committed $100 million investment in a residential, commercial and resort development project there, the group said on Sunday. 　LSG Group recently announced its investment by 2025 in the Mangsang District 1 development project in the East Coast Free Economic Zone (EFEZ), its first such project in Korea.  　The tycoon, who

　SK Functional Polymer is a Paris-based subsidiary of petrochemical company SK Geo Centric that produces thermoplastic materials used in packaging and automotive industries. 　Pascal Sauvaire, chief operating officer of SK Functional Polymer, says the most important thing for the company is “to stay ahead of the curve in terms of green technology, trends and solutions.” 　“Recycling and the green economy have been the main trends in the packaging industry for some time,”

The amount of cargo handled at South Korean seaports was up 8.7 percent on-year in August amid the global economic recovery, government data showed Sunday. The cargo processed at the country's ports stood at 128.6 million tons last month, up from 118.3 million tons a year earlier, according to the data by the Ministry of Oceans and Fisheries. Handling of export-import cargo rose 9 percent to 117.4 million tons on the back of strong exports of petrochemicals and cars. Coastal cargo handled in Sou