When it comes to the NATO summit and President Joe Biden‘s performance as global leader, there’s the good news and the bad news. Confronted with the dangerous ambitions of Vladimir Putin and Xi Jinping, NATO appeared more unified than at any time since the Cold War. In fact, Russia‘s unprovoked invasion of Ukraine has effectively revived the Cold War. Most NATO members are upping their defense ...

A union labor’s first walkout in four years is imminent at Hyundai Motor Group, as unionized workers are setting the stage for a strike, while the Korean carmaker came under greenwashing accusations in Germany for manipulating exhaust emissions, escalating the strain on the beleaguered carmaker amid dwindling sales. According to the industry, a 40,958-member labor union at the Hyundai Motor bran...

The new South Korean government has hit a roadblock with its plans to expeditiously normalize the operation of the military base that hosts the US-made Terminal High Altitude Area Defense system. The Yoon Suk-yeol government has not yet taken the first step to begin a long-postponed environmental impact assessment, which is legally required to repair and refurbish the THAAD base to ensure its fu...

S. Korea’s daily COVID-19 infections reached the highest in the recent 40 days, raising concerns about a possible resurgence during the summer season. According to the Korea Disease Control and Prevention Agency, the country added 18,147 new COVID-19 infections during the 24 hours of Monday. The total caseload reached 18,413,997. The daily tally reported on Tuesday nearly doubled from 9,894 a w...

The Montreal Symphony Orchestra will present a “passionate repertoire” during its visit to South Korea this week, the orchestra’s new conductor and musical director Rafael Payare said Tuesday. The orchestra’s first overseas tour under the direction of the 42-year-old Venezuelan conductor consists of four concerts: Tuesday’s concert with South Korean concert pianist Sunwoo Yekwon, the winner of ...

South Korean stocks bounced back Tuesday, snapping a four-day losing streak, as investors scooped up oversold stocks ahead of the quarterly earnings season. The local currency fell against the US dollar. The Korea Composite Stock Price Index (KOSPI) closed up 41.44 points, or 1.8 percent, to 2,341.78. The KOSPI slid to a 20-month low Monday. Trading volume was light at 315.7 million shares worth...

A police search is underway for a woman in her 20s who has been missing for a week, after last being seen in western Seoul. The woman named Kim Ga-eul has been missing since the evening of June 27 after last being seen near the Line No. 9 Gayang Station in Gangseo-gu, western Seoul. Kim’s family reported her missing to police at around 11:30 p.m. the same day. Kim’s sister reportedly told the p...

South Korean sports utility vehicle maker SsangYong Motor officially unveiled its new Torres mid-size SUV at a media showcase on Tuesday, declaring a fresh start for the debt-ridden carmarker supported by a record-high number of preorders. Kwak Jea-sun, who heads KG Group, which is set to take a majority stake in the carmaker, attended the launch event and said he wouldn‘t go through with a rest...

The joint economic committee between the two countries was first launched in 1991, where assistant secretaries of the two foreign ministries took part. Other areas for cooperation discussed include vaccines, the aerospace industry and countering the pandemic. This year marks the 60th anniversary of diplomatic relations between South Korea and Mexico. Along with Mexico, South Korea has establish...

SEJONG -- The Cabinet on Tuesday approved the administration’s energy policy direction, which is aimed at raising the share of nuclear energy out of the nation’s total power generation from the current level of 27.4 percent. According to the Ministry of Trade, Industry and Energy, the administration has set the goal of raising the share of nuclear power generation to 30 percent or more by 2030. ...

The Bank of Korea is emboldened to raise its benchmark rate by 50 basis points for the first time next week, as consumer prices in June increased 6 percent from a year earlier, the highest level since November 1998, when they jumped 6.8 percent on-year amid the Asian financial crisis. Data from Statistics Korea released Tuesday found the June consumer price index topped the 5.4 percent marked in...

South Korea’s central bank said Tuesday that foreign reserves in June saw the sharpest decline since November 2008, when the country was dealing with the global financial crisis, feeding concerns of the weakening value of the Korean won against the US dollar. “Korea’s official foreign reserves as of end of June 2022 amounted to $438.3 billion,” the BOK said in a statement. It was down $9.43 bill...

Local property technology firm Zigbang made a bold decision last year to relocate its Seoul headquarters -- not to New York or Tokyo, but to a virtual world. For its 400 workers, instead of a hellish commute in the mornings and evenings, they log in to a new interface the company has created. Workers’ avatars hop on elevators to get to their office in the metaverse to chat and have meetings with...

Samsung Electronics Vice Chairman Lee Jae-yong held meetings with Japanese business leaders who were staying in Seoul this week to attend the annual gathering of the Korea-Japan Business Council, according to the tech giant on Tuesday. Lee, the de facto leader of Samsung, on Monday had dinner with Masakazu Tokura, chairman of Sumitomo Chemical who doubles as chairman of Keidanren, or the Japan B...