South Korea will continue efforts to "stably manage" relations with China while taking into account the outcome of a Group of Seven (G-7) summit earlier this month, the foreign ministry said Tuesday. The ministry made the statement in a report submitted to the National Assembly amid speculation that South Korea's participation in the G-7 summit as a guest makes the country look like it has chimed in with the G-7 countries on their unified front against an assertive China. Seoul offic

The Bank of Korea (BOK) said Tuesday it has decided to issue three-year monetary stabilization bonds, in an effort to better control liquidity. The BOK said it will significantly reduce the amount of two-year monetary stabilization bonds to reduce volatility in bond markets in the wake of the sales of longer-term bonds. At the end of last month, about 80 percent of outstanding monetary stabilization bonds had maturities of two years, a BOK official said. The three-year bonds are expected t

North Korean leader Kim Jong-un urged support for women in a message to the country's major organization consisting of housewives, state media said Tuesday. The Socialist Women's Union of Korea (SWUK) held its seventh congress meeting from Sunday to Monday and read out Kim's letter praising the union as the "great pride" of the ruling Workers' Party, the official Korean Central News Agency (KCNA) said. Kim called on the party to show support and love for women, saying that respecting

LG Electronics Inc. on Tuesday unveiled a digital X-ray detector (DXD) with artificial intelligence (AI) solutions as the South Korean tech giant eyes to expand its presence in the medical equipment field. LG's latest DXD was introduced at Arab Health 2021, the largest medical equipment expo in the Middle East, which will run through Thursday in Dubai. The company plans to launch its new DXD in global markets, including South Korea and the United States, in the near future. The product is co

South Korea said Tuesday it will extend a temporary removal of tariffs on imported eggs by six months until the end of the year in a bid to stabilize their high prices. The Cabinet approved a revised regulation that will allow local firms to import 36,000 tons of fresh eggs and other egg products without tariffs until Dec. 31. In January, the government removed import tariffs on 50,000 tons of egg products by the end of June in a bid to ease a supply shortage caused by the outbreak of bird flu

Hyundai Motor Co. on Tuesday unveiled the Avante N high-performance model as it strives to strengthen its high-end product lineup. The Avante N is the first sedan to be launched under the carmaker's high-performance N brand. The sporty sedan comes with side skirts, which minimize the amount of air that goes under the car from the sides and a wing-type spoiler that helps reduce sound and air resistance, Hyundai said in a statement. The latest performance model's prices and other details will

As former Prosecutor General Yoon Seok-youl, a leading presidential hopeful for the opposition bloc, faces challenges even before he declares his bid, new hopefuls are emerging as possible conservative runners with about eight months left before the election. Having led a majority of public opinion polls for presidential hopefuls since late last year, Yoon saw a major setback in his yet-to-be-declared presidential bid this week from the sudden resignation of his chief spokesman and a dossier al

WASHINGTON -- US President Joe Biden said Monday he decided to extend US sanctions on North Korea for another year, a move that follows the latest US outreach to the reclusive nation for dialogue at any time and place. In a letter to the speaker of the US House of Representatives, Biden said the North's fissile material as well as its pursuit of nuclear and missile programs "continue to constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of

The military on Tuesday began a pilot operation of a drone detection and jamming system to better respond to growing threats by small unmanned aerial vehicles, the arms procurement agency said. For the next six months, the Army, the Navy and the Air Force will operate the radar system capable of detecting drones as small as the size of a baseball within 8 kilometers of distance and incapacitating them with jammers when identified as an unauthorized vehicle, according to the Defense Acquisition

French automotive parts maker Valeo and three other foreign firms have submitted preliminary bids for a controlling stake in automotive thermal management systems and automotive parts maker Hanon Systems, while local players have decided against the move, sources said Tuesday. Valeo, a key rival of Hanon Systems, and German automotive parts maker Mahle have reportedly submitted a preliminary bid for the 70 percent stake in Hanon Systems worth 6.6 trillion won ($5.8 billion) as of Tuesday, while

South Korea said Tuesday it has launched the fifth round of talks with Chile to reflect the latest industry trends into their 17-year-old free trade agreement (FTA). During the three-day virtual meeting, the two countries plan to discuss a wide array of issues ranging from labor and the environment to intellectual rights, according to the Ministry of Trade, Industry and Energy. Seoul and Santiago will also share ideas on ways to promote the digital trade. South Korea implemented its first-ev

South Korea's daily new coronavirus cases stayed in the 300s for the second consecutive day Tuesday amid a vaccination drive, but the potential spread of COVID-19 variants remains worrisome ahead of eased distancing rules starting July. The country reported 395 new cases, including 351 local infections, raising the total caseload to 151,901, the Korea Disease Control and Prevention Agency (KDCA) said. The country added two COVID-19 deaths, raising the death toll to 2,006. The fatality rate ca

South Korea and the United States have agreed to consider terminating their "working group" forum on North Korea policy, the foreign ministry said Tuesday, in what appears to be a conciliatory gesture to Pyongyang that has decried the forum as a hurdle to inter-Korean ties. Seoul's top nuclear envoy, Noh Kyu-duk, and his US counterpart, Sung Kim, reached the agreement during their talks in Seoul on Monday, as they sought a coordinated strategy to resume nuclear diplomacy with Pyongyan

South Korea's producer prices gained 0.4 percent on-month in May due to a modest rise in food and energy prices, extending their monthly gains for the seventh straight month, central bank data showed Tuesday. The producer price index, a barometer of future consumer inflation, stood at 108.50 in May, compared with 108.06 a month earlier, according to the Bank of Korea (BOK). The May index advanced 6.4 percent from the previous year, the BOK data showed. The prices of agricultural goods fell

South Korean stocks opened higher Tuesday, tracking an overnight US stock rebound that stemmed from investors' speculation that the Fed's tapering timeline may be more gradual than expected. The benchmark Korea Composite Stock Price Index (KOSPI) rose 21.95 points, or 0.68 percent, to trade at 3,262.74 points in the first 15 minutes of trading. The stock index rebounded after dipping 0.83 percent the previous session over the Fed's hawkish pivot last week that increased market worries about