South Korean shares rose nearly 1 percent Tuesday as investors picked up recently downbeat issues, including Samsung Electronics, amid worries over inflation and aggressive monetary tightening in major economies. The Korean won gained ground against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 23.86 points, or 0.92 percent, to close at 2,620.44 points. Trading vo...

Korean businesses have pinned high hopes on the imminent launch of a new US-led economic initiative, called the Indo-Pacific Economic Framework or IPEF, in tackling supply chain disruptions and improving soured ties with Japan. But they remained cautious about the new platform’s anti-Chinese undertones. South Korea’s envisioned entry into the IPEF is expected to top the agenda during summit tal...

Oh Se-hoon, the Seoul Mayor candidate of the ruling People Power Party, on Tuesday expressed hopes to win the upcoming mayoral election and extend his term further in four years time. Oh is currently seeking his fourth mayoral term. If elected in the June 1 local elections, Oh will become the first mayor of Seoul to serve a fourth term, and become the city’s longest-serving mayor. “The mayor po...

A customer looks around a cosmetics section of a department store in Seoul. Manufacturers for health and beauty products have been under increasing pressure to raise product prices amid the prolonged Russian attack on Ukraine and intensifying concerns over Indonesia’s palm oil export ban.

South Korean IT giant Kakao will provide mobility services in Guam before the end of the third quarter through a partnership with Miki Taxi, one of the largest taxi services on the US island territory, Kakao Mobility said Tuesday. In doing so, the firm will become the country’s first mobility company to apply the entire infrastructure ranging from the platform, driver application and administrat...

Patricia Chun, general manager of WeWork Korea, said Tuesday that the company is considering launching its premium office service in the global market, driven by soaring demand for worker-friendly and customized official rental services. Launched on May 1, the WeWork premium service is available at its Seoul Square, Gangnam, Yeoiudo and Gwanghwamun branches. The firm plans to export the service ...

TerraPower is developing reactors that use liquefied metal as a coolant instead of water, which enables a small reactor to pursue high power density and at the same time operate at a low pressure, decreasing the chances of a meltdown. Moreover, TerraPower‘s power grid will use molten salt to store thermal energy generated from the reactors, enabling the stable supply of power. TerraPower’s produ...

Consumer criticisms are mounting as the country’s finished carmakers are unable to meet the delivery deadline due to ongoing supply shortages globally, as well as obligating customers to pay more to get the latest edition models. As carmakers like Hyundai Motor stops manufacturing the older version of vehicle when they release the new edition in the new year, customers having to wait more than a...

SEJONG -- A program aimed at introducing Korean food to foreigners kicked off Monday, the Ministry of Agriculture, Food and Rural Affairs said Tuesday. The program, which consists of a total of 20 food tours, will run between May and November this year in Seoul and across the country. Foreign residents and tourists can also learn recipes for a variety of Korean food, including traditional sauce...

The 19th edition of Music in PyeongChang is set to take place earlier and will be bigger than before, the festival’s artistic director Son Yeol-eum said Monday. The iconic music festival will be held for 22 days from July 2 to 23 at various places in Gangwon Province under the theme of “Mask.” “Because of the masks during the pandemic, we were able to stay connected during a time of disconnecti...

South Korean broadcasters are beginning to air TV programs filmed abroad as they resume long-suspended plans for shootings overseas. With the easing of travel restrictions, including mandatory quarantine for international arrivals and the reopening of international routes, broadcasters are keen to resume filming TV programs in exotic locations. Cable channel tvN recently released the new entert...

Girls’ Generation is making a long-awaited comeback in August in celebration of its 15th anniversary. After rumors that the K-pop legend is returning with a new batch of songs, the band’s agency S.M. Entertainment confirmed Tuesday that the band will drop a new album sometime in August. The band also plans to appear on various television programs to celebrate the 15th anniversary album and laun...

President Yoon Suk-yeol appointed Han Dong-hoon as justice minister alongside former lawmaker Kim Hyun-sook as gender equality minister on Tuesday, forging ahead despite fierce resistance from the main opposition Democratic Party of Korea. The approval provoked an immediate backlash from opposition parties, heralding a bumpy road for the approval of Prime Minister nominee Han Duck-soo, which req...