South Korea's exports of information and communication technology (ICT) products reached a record high in June, data showed Wednesday, on the back of robust global demand for semiconductors and displays as the global economy picks up steam from the pandemic-induced slump. Outbound shipments of ICT products stood at $19.3 billion in June, up 29.1 percent from a year earlier, according to the data from the Ministry of Science and ICT. The figure marks the highest ever for the month and the 13th

LG Chem Ltd., South Korea's leading chemical firm, said Wednesday it will invest 10 trillion won ($8.7 billion) by 2025 to expand its battery material, renewable and bio businesses. The chemical unit under LG Group said it will speed up its transition to an eco-friendly business portfolio by expanding partnership with major industry players through mergers and acquisitions, joint ventures and strategic investments, saying over 30 projects are currently under review. The parent of battery maker

South Korea will increase its investment in the Korean-version New Deal project to 220 trillion won ($191 billion) by 2025, President Moon Jae-in said Wednesday. He announced the scheme to expand the scale of government-private investment from the originally planned 160 trillion won, marking the first anniversary of the launch of the campaign. It is aimed at creating a massive amount of jobs and spurring mid-to long-term economic growth with a focus on promoting the digital infrastructure and

The Korean-Thai horror project "The Medium" topped the advance box-office sales in South Korea, raising hopes for a larger-than-expected success despite a surge in novel coronavirus infections, data showed Wednesday. The film, revolving around a family experiencing a shamanistic spiritual inheritance in a rural region of Thailand, recorded over 110,000 presold tickets as of 9 a.m., according to data from the Korean Film Council. It hit the local theaters earlier in the day. It accoun

North Korea has reported to the United Nations that its food production dropped to the lowest level in 10 years in 2018 due to natural disasters, lack of farming materials and low levels of mechanization. According to its Voluntary National Review (VNR) report submitted to the UN, the North also admitted that it failed to achieve its national target of producing 7 million tons of food. VNR is a process through which to assess progress among member countries in their efforts to achieve the UN S

Sales of equity-linked securities (ELS) in South Korea swelled nearly 13 percent in the first half of the year despite the coronavirus pandemic, data showed Wednesday. The value of ELS issues stood at 35.6 trillion won ($30.9 billion) in the January-June period, up 12.8 percent from a year earlier, according to the data from the Korea Securities Depository. The figure, however, was down 5.1 percent from the 37.5 trillion won floated during the second half of last year. ELS refers to hybrid de

Hyundai Motor Co. on Wednesday launched the Avante N high-performance model as it strives to strengthen its high-end product lineup. The Avante N is the first sedan of the carmaker's high-performance N brand. The sporty sedan comes with a 2.0-liter turbo flat power engine that can reach 100 kilometers in 5.3 seconds and an eight-speed wet double-clutch transmission (DCT), the company said in a statement. It is also equipped with side skirts, which minimize the amount of air that goes under th

South Korea announced Wednesday it will elevate the social distancing scheme in regions outside the greater Seoul up one notch, as concerns of a fourth wave of new COVID-19 outbreaks over the summer grow stronger. The decision to implement Level 2 guidelines in regions outside Seoul, the western port city of Incheon and Gyeonggi Province on Thursday was announced in an interagency COVID-19 response meeting chaired by Prime Minister Kim Boo-kyum. Kim explained the decision was reached as the nu

All schools in the greater Seoul area switched to online classes full-time Wednesday as the country has seen record-breaking coronavirus infections. The measure will remain effective until July 25 in Seoul, Incheon, 40 kilometers west of the capital, and Gyeonggi Province. By then, most schools will be closed for summer vacation. According to the Ministry of Education, 93.7 percent of elementary schools, 98.8 percent of middle schools and 99.1 percent of high schools will begin a one-month hol

WASHINGTON -- The US State Department expressed hope Tuesday for a peaceful resolution of a row between South Korea and Japan over Tokyo's claims to the South's easternmost islets of Dokdo in the East Sea. "The United States does not take a position regarding the sovereignty of the Liancourt Rocks," the State Department official said, referring to Dokdo islets, called Takeshima in Japan. "The question of the sovereignty of these islands is for the ROK and Japan to resolve peacefu

South Korea's daily virus cases hit yet another fresh high Wednesday as the country battles the fourth wave of the pandemic amid woes over rising delta variant cases and a slow vaccination process.    The country added 1,615 new COVID-19 cases, including 1,568 local infections, raising the total caseload to 171,911, according to the Korea Disease Control and Prevention Agency (KDCA).    The daily figures have stayed above 1,000 for eight consecutive days.    Conc

SK Telecom Co., South Korea's largest wireless carrier, said Wednesday it has launched a new metaverse platform in a move to capture growing demand for the technology as more users shift their daily activities to digital spaces amid the pandemic. The metaverse refers to a shared virtual space where users interact with each other through digital avatars. The technology has gained popularity over the past year as the pandemic limits in-person contact. SK Telecom said the mobile app-based platfor

South Korea had the second-largest monthly capacity of 200-millimeter-equivalent wafers last year behind Taiwan, a report showed Wednesday. The country, home to major chipmakers like Samsung Electronics Co. and SK hynix Inc., had a capacity of 4.25 million wafers per month, accounting for 20.4 percent of global wafer capacity as of December 2020, according to market researcher IC Insights. Taiwan was the capacity leader at 200mm or 8-inch wafers, taking 21.4 percent of the global capacity. The

South Korea reported job additions for the fourth straight month in June, data showed Wednesday, in the latest sign the job market has improved amid an economic recovery. The number of employed people reached 27.6 million last month, 582,000 more than a year earlier, according to the data compiled by Statistics Korea. The June additions were lower than an on-year increase of 619,000 the previous month. The country has reported job additions since March when 314,000 jobs were added on-year, th

Former US President Donald Trump had indicated to his close aides that he would "blow up" the US-South Korea alliance in his second term as president, excerpts from an upcoming book showed Tuesday. The book, "I Alone Can Fix It: Donald J. Trump's Catastrophic Final Year," alleges that Trump also wanted to withdraw the United States from the North Atlantic Treaty Organization (NATO). "In fact, Trump had privately indicated that he would seek to withdraw from NATO and to