South Korea has reported nearly 8,000 coronavirus infections involving people who tested positive for COVID-19 after being fully vaccinated, health authorities said Wednesday. Out of more than 17.75 million people who have received the full-dose vaccine regimen, there were 7,772 breakthrough cases, the Korea Disease Control and Prevention Agency (KDCA) said. Since its nationwide inoculation campaign began in late February, a total of 38.76 million people, or 75.5 percent of the country's populat

South Korea's monetary policy is considered still loose although the Bank of Korea delivered its first pandemic-era rate hike in August, a member of the BOK's rate-setting board said Wednesday. The remarks by Suh Young-kyung are expected to reinforce market expectations that the central bank may again raise its key rate later this year or early next year. "In spite of a hike in the key rate in August, the current monetary policy is still loose," Suh told a forum in Seoul. The BOK must

Declaring an end to the Korean War could be a "very useful" and "meaningful" step that builds mutual trust between the two Koreas, and would pave the way for peace and cooperation on the Korean Peninsula, Unification Minister Lee In-young said Wednesday. During a press meeting held just before embarking on an overseas trip to Germany, Belgium and Sweden, Lee urged North Korea to come out for dialogue to discuss denuclearization, inter-Korean relations and other cross-border i

The number of babies born in South Korea dropped to a record low in July, data showed Wednesday, in the latest sign that underscores the country's gloomy demographic situation with the chronically low birth rate. A total of 22,352 babies were born in July, down 2.8 percent from the previous year, according to the data compiled by Statistics Korea. In the first seven months of this year, the number of newborns reached an all-time low of 159,269, down 3.4 percent from the previous year. South Kore

South Korea's terms of trade fell for the fifth consecutive month in August due to a rise in prices of imported goods, central bank data showed Wednesday. The nation's net terms-of-trade index for goods -- a gauge of overall trade terms -- declined 5 percent last month from a year earlier, according to preliminary data from the Bank of Korea (BOK). The figure is calculated by dividing the index for export prices by that for import prices. It shows the amount of imports a country can buy for each

People aged 65 and older made up 16.5 percent of South Korea's population this year, a report showed Wednesday, highlighting concerns that the fast-aging demographic transition could pose a drag on the country's economy. According to the report by Statistics Korea, the number of people aged 65 and older stood at 8.53 million this year. The South Korean population is projected to peak in 2028 before going on a downward curve, the report showed. However, the graying of South Korea will accelerate,

LG Electronics Inc. is likely to report solid third-quarter earnings, analysts said Wednesday, as its mainstay home appliance business is expected to offset a slump from vehicle components and B2B units. The South Korean tech giant was projected to log a record 18.3 trillion won ($15.4 billion) in sales in the July-September period, up 8.2 percent from a year earlier, on a consolidated basis, while its operating profit was estimated to jump 16.9 percent on-year to 1.1 trillion won over the perio

The government on Wednesday started assimilation programs for Afghan evacuees who settled in South Korea in August upon fleeing their country after it was taken over by the Taliban. Various programs, offered by relevant ministries, are aimed at helping them learn the language, get familiar with the culture and more easily assimilate into Korean society. The Ministry of Justice runs the Korea Immigration and Integration Program (KIIP) with a goal to teach them Korean culture and language, along w

The two Koreas could hold an additional summit under the next presidency of the South if another meeting between the leaders isn't able to take place before the end of President Moon Jae-in's term next year, a senior Cheong Wa Dae official said Wednesday. Speculation of an inter-Korean summit has surfaced as of late, especially following Moon's proposal of signing a declaration on the end of the 1950-53 Korean War in his speech to the recent United Nations General Assembly. Last week, Kim Yo-jon

Three South Korean electric vehicle (EV) battery makers accounted for about a third of the global market in the first eight months of the year, but they are facing toughening competition with Chinese rivals, a market research firm said Thursday. The trio -- LG Energy Solution Ltd., Samsung SDI Co. and SK Innovation Co. -- accounted for 34.8 percent of the global EV battery market in the January-August period, inching down from 35 percent a year ago, according to the data from SNE Research. LG En

Retail sales in South Korea moved up 6.4 percent in August from a year earlier, data showed Wednesday, as people continued to purchase more food and groceries online amid the new wave of the COVID-19 pandemic. The combined sales of 25 major offline and online retailers reached 12.6 trillion won ($10.6 billion) last month, compared with 11.9 trillion won tallied in the previous year, according to the data compiled by the Ministry of Trade, Industry and Energy. Sales from offline stores moved up 2

South Korea's trade ministry said Tuesday it has agreed with Uruguay to make joint efforts to speed up negotiations for a free trade pact with a group of South American countries. Trade Minister Yeo Han-koo plans to meet his Uruguayan counterpart, Francisco Bustillo, virtually later in the day to discuss ways to expand economic ties, according to the Ministry of Trade, Industry and Energy. "Uruguay is one of the key partners for South Korea, as the two can make joint efforts to overcome cha

South Korea will seek to strengthen trade cooperation with Japan amid challenges from the COVID-19 pandemic, and a more friendly business environment will be offered to Japanese firms here, Seoul's top trade official said Wednesday. "The government will spare no efforts to promote the economic ties between South Korea and Japan," Trade Minister Yeo Han-koo said during a meeting with Japanese business officials based here. "South Korea will offer an open and transparent business en

South Korea's daily coronavirus cases stayed in the 2,000s for a fourth day Wednesday, bouncing back to the second largest since the outbreak of COVID-19 in January last year on a spike in infections in the greater Seoul area. The country reported 2,885 new COVID-19 cases, including 2,859 local infections, bringing the total caseload to 308,725, according to the Korea Disease Control and Prevention Agency (KDCA). The daily caseload touched a fresh high of 3,272 on Saturday due to a mass migratio

South Korean stocks opened nearly 1.5 percent lower Wednesday, tracking an overnight plunge on Wall Street amid concerns about spiking bond yields and the US debt ceiling. The benchmark Korea Composite Stock Price Index (Kospi) dropped 45.27 points, or 1.46 percent, to 3,052.65 points in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq composite plummeted 2.83 percent and the S&P 500 dipped 2.04 percent. The Dow Jones Industrial Average retreated 1.63 percent. Investor senti