South Korea’s banking groups have started upgrading their auto loan and financing services to the next level this year, aiming to go beyond their traditional business to attract mobile-first customers. KB Financial Group, the nation’s No. 1 banking group by total assets, has expanded its car financing services offered via online and mobile platforms, mostly through its leasing and installment fi...

The ruling Democratic Party of Korea’s presidential nominee Lee Jae-myung on Wednesday called for an end to mudslinging, in an apparent bid to improve his stagnant support ratings. Lee declared that he would stop all denunciations of other candidates, as he fears voters are displeased with the presidential race being riddled with accusations and denunciations against one another. "I understand ...

The planned televised debate between the two leading presidential candidates has been called off, with a Seoul court granting the injunction filed by Ahn Cheol-soo, a minor opposition candidate who had been excluded from the event. Seoul Western District Court on Wednesday ordered the three local broadcasters not to hold or broadcast a debate for the two presidential candidates leading the race ...

South Korean government advised its nationals residing in 15 regions in Ukraine to leave amid heightened fears of a possible Russian invasion of Ukraine. The Foreign Ministry on Tuesday additionally placed 12 provinces located in the eastern and northern regions of Ukraine, including capital Kyiv, Rivne, Sumy and Odessa, under the elevated travel alert, advising South Korean nationals to swif...

Ruling party presidential candidate Lee Jae-myung said Wednesday he will push to shorten the workweek from five days to 4 1/2 days if elected in March. Lee of the liberal Democratic Party announced a set of campaign pledges for laborers at a workers' welfare center in Bucheon, just west of Seoul. "I will begin a social dialogue for the introduction of a 4 1/2-day workweek and push for a trial p...

President Moon Jae-in expressed hope Wednesday for a free trade deal with Mexico as he exchanged letters with Mexican President Andres Manuel Lopez Obrador to celebrate the 60th anniversary of establishing diplomatic ties between the two countries. Moon said in the letter that a free trade pact between the two countries would support a post-pandemic economic recovery. The two sides launched free...

Kia Corp., South Korea's second-biggest carmaker, said Wednesday its fourth-quarter net profit rose 30 percent from a year earlier on a weak won and increased SUV sales. Net profit for the three months ended in December jumped to 1.248 trillion won ($1.04 billion) from 961.6 billion won during the same period of last year, the company said in a statement. "A combination of a weak won, improved ...

South Korea's artificial intelligence (AI) defense technologies for speech, image and voice recognition are assessed to be about a year behind those of the United States, a state research institute said Wednesday. The Korea Research Institute for Defense Technology Planning and Advancement (KRIT) made the assessment as it unveiled a broad road map for the use of AI technologies in the defense se...

The Seoul city government will create a walking deck floating above water on the Han River by the end of next year to offer new attractions, officials said Wednesday. The 192-meter-long deck, comprising a walking trail on the first floor and an observatory deck on the second floor, will be connected to the small river island of Seonyu in western Seoul, officials said. An 80-meter-wide water scr...

This is the second installment of a two-part series on Korea‘s Chips Act and controversies surrounding a law meant to support the local chip industry amid heated competition around the world. -- Ed. To tackle a chronic workforce shortage in the domestic chips industry, Korean semiconductor giants Samsung Electronics and SK hynix have been ramping up efforts to acquire talents even before they be...

Year-on-year brand value grew by 52% to $12.8bn , with Infosys rising 56 ranks up in the Brand Finance Global 500 2022 ranking BENGALURU, India , Jan. 26, 2022 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that it has been recognized as the fastest-growing IT services brand, by Brand Fin...

Pernod Ricard’s Royal Salute 21 Year Old is British to the core. Created to mark the coronation of Queen Elizabeth II, Royal Salute’s every detail from its tasting note to the bottle design is dedicated to being British. In that context, Royal Salute’s latest collaboration with London-based fashion designer Richard Quinn is more than just a collaboration between the two British icons. Quinn ca...

The daily COVID-19 tally of Seoul shot up to an all-time high of 3,178 cases Wednesday amid the fast spread of the omicron variant, officials said. It marks the second time ever the capital's daily tally has exceeded 3,000 after 3,166 cases were recorded on Dec. 15. Wednesday's total marked a steep jump from 1,724 cases registered a day earlier, according to the Seoul city officials. The city's...

The number of foreign nationals staying in South Korea shrank nearly 4 percent on-year in 2021 amid the coronavirus pandemic, the Korea Immigration Office said Wednesday. The number was tallied at 1.96 million as of the end of last year, a 3.9 percent decrease from 2.04 million in 2020 and down 23 percent from a record high of 2.52 million in 2019. They include 1.57 million long-term residents ...

South Korea's exports will likely lose some growth momentum in the first quarter of the year due to a string of unfavorable external factors, a state bank said Wednesday. Overseas shipments by Asia's fourth-largest economy are expected to climb 15-16 percent on-year to $169 billion in the January-March period, according to the Export-Import Bank of Korea (Exim Bank). "South Korea's exports are ...