South Korea's central bank on Thursday held its benchmark policy rate unchanged at a record low of 0.5 percent amid a recent spike in COVID-19 infections but strongly hinted it may conduct its first post-pandemic rate hike by the end of this year. Bank of Korea (BOK) Gov. Lee Ju-yeol said the central bank will review whether a policy adjustment is needed at next month's rate-setting meeting, maintaining his hawkish stance on inflation and financial imbalances. The BOK "could raise its key

LG Uplus Corp., a major South Korean telecom operator, said Thursday it has signed a memorandum of understanding with Japan's largest mobile carrier KDDI to find new business applications for 5G network technology and strengthen cooperation to prepare for future 6G networks. Under the agreement, the two aim to share their network technology and solutions in 5G and find more applications of the latest generation network, LG Uplus said in a statement. The South Korean telecom operator has recent

Drug smuggling caught by South Korea's customs agency more than doubled in the first half of the year as trafficking via non-contact delivery means rose amid the pandemic, data showed Thursday. A total of 214.2 kilograms of drugs were confiscated in the January-June period, up 153 percent from a year earlier, according to the data from the Korea Customs Service. Drug smuggling via international mail and cargo sharply increased amid the protracted pandemic, according to the customs office. By

South Korea's daily coronavirus cases continued to spike to just shy of a record high Thursday as the country implements stronger virus curbs in regions outside of the broader Seoul area to slow down the nationwide spread of the virus. The country added 1,600 new COVID-19 cases, including 1,555 local infections, raising the total caseload to 173,511, according to the Korea Disease Control and Prevention Agency (KDCA). The latest figure is the second-highest daily tally after a record 1,615 cas

South Korean stocks opened higher Thursday, tracking gains on Wall Street as investors are relieved by the US Federal Reserve's reiteration of its dovish stance. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.48 points, or 0.2 percent, to 3,271.29 points in the first 15 minutes of trading. Stocks traded higher, taking a cue from Fed Chairman Jerome Powell's reassurance that that the time is not ripe for an early tapering of accommodative policies. Overnight, the Dow Jones I

Six service members aboard a South Korean destroyer on anti-piracy missions off the coast of Africa have tested positive for the coronavirus, the defense ministry said Thursday, sparking fears of collective infections among some 300 people living on the same vessel. The infections appeared to have begun after the 4,400-ton Munmu the Great carrying the Cheonghae Unit was docked at a nearby port from June 28-July 1 to load supplies, and poor initial response to suspicious symptoms could have spre

Amicogen Inc. on Thursday announced that it will sell stocks to raise 22.3 billion won The proceeds from the stock offering will be used primarily to finance its facilities. According to a regulatory filing, the company will issue 532,198 common shares at a price of 41,850 won per share. The stocks will be sold to the investors that the firm designated. (Yonhap)

BTS became the top-selling artist in total CD album sales in the United States in the first half of this year, according to Billboard on Tuesday (US time). The K-pop juggernaut sold 573,000 copies of its CD albums from Jan. 1 to July 1, the most by a single music act in the US, Billboard said, citing MRC Data, a music sales data provider. American singer-songwriter Taylor Swift came in next with sales of 414,000 units. In terms of broader physical album sales that took vinyl albums and casset

South Korean stocks edged down Wednesday, snapping a two-day winning streak as US losses amid renewed inflationary pressure weakened investor sentiment. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) dropped 6.57 points, or 0.2 percent, to close at 3,264.81 points. Trading volume was moderate at about 896 million shares worth some 12.8 trillion won ($11.1 billion), with losers outnumbering gainers 514 to 334. Foreigners sold a net 273 billio

As South Korea is grappling with the fourth wave of the new coronavirus pandemic, those in their 20s and 30s, most of whom are not yet eligible for vaccinations, are rushing to sign up for leftover Pfizer vaccine doses made available this month. The young adults have been pushed to the back of the line in the country's COVID-19 vaccination scheme, which kicked off in February. Starting July 5, they were allowed to apply for leftover COVID-19 vaccine doses made by Pfizer. A company worker, surn

Superband BTS appeared on the popular American talk show "The Tonight Show Starring Jimmy Fallon" on Tuesday (US time), putting on its first TV performance of new release "Permission to Dance." The band's seven members appeared holding violet and purple balloons to perform the upbeat track at an indoor stage filled with balloons. Dancers wearing white and orange later joined the band for a group choreography session. It marked the band's first performance of the new song on

The fate of the extra state budget currently under review at the National Assembly is growing more and more uncertain amid a widening political rift among rival parties and the government over the direction and scope of COVID-19 relief handouts. In late June, the government proposed an extra budget of 33 trillion won ($28.9 billion) in an agreement with the ruling Democratic Party (DP) to finance the fifth round of COVID-19 aid packages. The handouts were set to be given to people in the bottom

Cheong Wa Dae said Wednesday that one of its officials has been diagnosed with COVID-19. The official tested positive for the virus earlier in the day while working from home due to their spouse's fever symptom, according to Cheong Wa Dae spokesperson Park Kyung-mee. It is the first known coronavirus infection directly linked with the office of President Moon Jae-in. Park said the official holds the rank of assistant secretary to the president but stopped short of revealing personal informati

The Air Force's chief legal affairs officer has been booked for investigation over allegations he failed to properly oversee an initial probe into sexual abuse of a female noncommissioned officer that led to the victim taking her own life, the defense ministry said Wednesday. Brig. Gen. Jeon Ik-soo was booked on charges of dereliction of duty on Tuesday, and his status has been switched to that of a suspect, 42 days after the defense ministry launched an investigation into why the noncommission

The Ministry of Justice announced a series of measures to reform "inappropriate" investigative practices by prosecutors Wednesday, with a focus on banning the unauthorized disclosure of information on ongoing probes to media. The ministry, among other things, specified conditions for the publication of allegations in criminal cases, in an effort to prevent investigators from revealing information about ongoing cases that could result in false reporting and human rights violations. As