South Korean stocks extended their losing streak to a second session Friday amid concerns about fast rate hikes at home and in the United States. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) declined 40.17 points, or 1.36 percent, to close at 2,921.92 points. Trading volume was moderate at about 523 million shares worth some 10.6 trillion wo...

North Korea fired an unidentified projectile eastward Friday, South Korea's military said, hours after it warned of a "stronger and certain" response following the United States' imposition of new sanctions. The Joint Chiefs of Staff (JCS) announced the launch, the third in a little over a week, without elaborating further. Earlier in the day, Pyongyang issued the warning after Washington slapp...

Daewoo Shipbuilding & Marine Engineering is in search of a new owner again after a merger plan with its larger rival Hyundai Heavy Industries failed due to an EU veto on monopoly concerns. The European Commission announced Thursday its prohibition for the merger, claiming that the deal could reduce competition in the global LNG carrier market amid soaring energy prices. Back in 2019, Hyundai He...

SEJONG -- The Ministry of Economy and Finance has unveiled its policy to draw up a supplementary budget worth 14 trillion won ($11.7 billion), most of which will be used to support small business owners including the self-employed. Under constitutional government in Korea since 1948, this will mark the second time a supplementary budget bill has been submitted to the National Assembly in January...

South Korea’s central bank on Friday raised its base rate by 25 basis points to 1.25 percent, returning it to the level before the pandemic started, with its chief hinting at additional hikes. As a result of its first rate-setting meeting of the year, the Bank of Korea’s monetary policy board delivered its third pandemic-era rate hike, following its previous 25 basis point rate hikes in August a...

The Korean movie industry is taking to non-fungible tokens to attract audiences. Based on blockchain technology, NFTs are unique digital tokens of physical or digital assets that can be traded on the market. The value of the tokens changes depending on market demands. In conjunction with the release of “The Matrix Resurrections” on Dec. 22, Lotte Cinema and Warner Bros. jointly gifted NFT merch...

Celltrion’s COVID-19 antibody treatment Regkirona has received temporary approval in Switzerland, the Korean biopharmaceutical company said Friday. Celltrion submitted the results from its global third-phase clinical trial and all clinical data on virus variants including the delta variant, according to the company. Swissmedic, which is responsible for the authorization and supervision of thera...

A former US Forces Korea (USFK) chief said Friday that North Korea's recent self-proclaimed hypersonic missile launches, if true, can be a reason for South Korea and the United States to be "very concerned," citing the absence of "sure means" to counter them. Curtis Scaparrotti, who led the USFK from 2013-2016, made the remarks after Pyongyang claimed to have successfully test-fired hypersonic m...

Kakao Entertainment released well-known author Cho Seok-ho’s new series “Call Sign” as both a web novel and a webtoon on Friday. “Call Sign,” one of the most anticipated projects of the first half of the year, revolves around a rookie firefighter who has the ability to save others’ lives by putting his own life at stake. “In our world, there are many people who put all of their passion and whol...

BAODING, China , Jan. 14, 2022 /PRNewswire/ -- GWM released the latest sales data on January 6 that the company registered a volume of nearly 1.3 million vehicles in 2021, up 15.2% year-on-year, which marks the new record that the sales have been more than one million units for six consecutive years. Under the challenging conditions of the global pandemic, GWM has still seen surging sales ...

A court is expected to make its ruling Friday on an injunction seeking to stop a TV station from broadcasting the recordings of phone calls between the wife of opposition presidential candidate Yoon Suk-yeol and a reporter. The injunction was filed by Kim Keon-hee, Yoon's wife, to stop MBC from airing recordings of her phone conversations with a staff member of the YouTube channel Voice of Seoul...

The Baby Shark song has also been a huge hit on global music charts, ranking 32nd on the main singles chart of “Billboard’s “The Hot 100” by Billboard and No. 6 on the UK Singles Chart. The music‘s success lies in “unfamiliarity in the familiar,” Pinkfong CEO Kim Min-seok told a local media outlet. The rhythm is cute and bouncy, but the animals are sharks. Picking out a passage from classical mu...

“‘PUBG: Battlegrounds’ is the only Korean game entitled a global-hit game. We hope to expand the power of the game’s IP with the new free-to-play mode policy,” the official added. The online multiplayer shooting game involves 100 players fighting in a last man standing match, where the last survivor becomes the winner. Users can choose to start the match in solo, duo mode or as a team of up to ...

GWANGJU -- Search and rescue operations resumed at an apartment building collapse site in the southwestern city of Gwangju for a fourth day Friday. According to the Gwangju Fire and Safety Headquarters, the search for six missing persons resumed at 7 a.m. with 71 rescue workers aided by 43 instruments and eight rescue dogs. Exterior walls of the 39-story building under construction in Gwangju, ...