SEJONG -- Economic policymakers on Friday unveiled a policy of adding a zero-percent quota tariff on some imported daily necessities, including livestock products, in an attempt to tame the recent spike in consumer prices. The policy drawn by a group of ministries including the Ministry of Economy and Finance, was finalized during a meeting attended by President Yoon Suk-yeol in Seoul earlier in...

Korea Exchange CEO Sohn Byung-doo said Thursday that the bourse operator will set out guidelines on the way listed companies should report their progress on environmental, social and governance issues. The sustainability disclosures become mandatory as early as 2025. “The ESG initiative is one of the four goals we plan to see take place. We will refer to the global guidelines,” Sohn said at a fo...

Disclose achievement and improvement on economic, social, and environmental commitments Contain corporate will to take sustainability as its management philosophy since its foundation Write based on the GRI standards and self-disclose to the DART electronic disclosure system YONGIN, South Korea , July 8, 2022 /PRNewswire/ -- Noul Co., Ltd., (376930.KR), a KOSDAQ-listed biotech startup, has...

Interim assessment in 2023, final assessment in 2026 The KF-21 program, dubbed KF-X, is the largest-ever defense project produced by the South Korean government. The development of KF-21 fighter jets requires 8.8 trillion won ($6.7 trillion), of which Indonesia will contribute 20 percent. The main goals of the project are to replace F-4s and F-5s -- obsolete fighter jets operated by South Korea...

The internal ethics panel of South Korea’s ruling People Power Party on Friday morning suspend party Chairman Lee Jun-seok‘s party membership for six months. It was a landmark decision – the first ever to suspend a party chair – likely to spark intense strife within the ruling bloc for at least the next several weeks. Disputes have already been raised on how bylaws should be interpreted for the...

Former Japanese Prime Minister Shinzo Abe has died Friday hours after being shot during a campaign event, Japanese media outlets reported. Japanese national broadcaster NHK announced at around 5:50 p.m. Friday that Abe died after being shot twice in the back with a gun while giving a speech at around 11:30 a.m. in the Japanese city of Nara. Hours earlier in the afternoon, Japanese Prime Minister...

K-pop phenomenon BTS is set to perform in Busan in October to help the city‘s bid to host the 2030 World Expo. The announcement came after entertainment company Hybe, with which the band’s label Big Hit Music is affiliated, held a meeting to discuss ways to promote the bid with Busan city on Thursday. “The bidding committee will officially appoint BTS as the ambassadors of 2030 Busan World Expo...

The country’s largest air carrier Korean Air took first place in the air passenger transportation sector of the 2022 Global Customer Satisfaction Index (GCSI) awards for the 18th time since 2005 on Thursday. The GCSI awards recognize the best Korean corporations in each category by evaluating customer satisfaction levels, global competitiveness, and customer loyalty. Korean Air was recognized f...

Hyundai Motor has launched a completely redesigned HB20 in Brazil, a compact hatchback made exclusively for the Brazilian market. The 2022 facelift comes three years after Hyundai Motor launched the second generation HB20 in 2019. While most automakers update their vehicles once every five years or so, the quick update highlights Hyundai’s efforts to maintain HB20‘s position as the most popular...

The South Korean government announced Friday that it would introduce anti-epidemic measures for the inter-seasonal resurgence of COVID-19 next week. During a COVID-19 response meeting on Friday, Lee Ki-il, the second vice minister of the Ministry of Health and Welfare, officially confirmed that the country is going through a new wave of the COVID-19 pandemic. Lee added the government is current...

South Korean chemicals-to-materials firm SKC said Friday that the company has kicked off construction of Europe’s largest copper foil manufacturing factory in Poland. The firm’s copper foil manufacturing and investment unit, SK Nexilis, is spending 900 billion won ($693 million) to establish a copper foil production facility in Stalowa Wola, Poland, that has an annual manufacturing volume of 50,...

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South Korean imported car dealer Han Sung Motor said Friday it has launched nonfungible tokens (NFTs), digital documents and digital warranty for its certified used car customers. The digitalization of the auto dealer’s documents is a step towards following the global trend of going online, communicating with younger generations, and creating “fandom,” said Han Sung Motor. The NFTs will contain...