MADRID/LISBON/SEOUL– National Assembly Speaker Kim Jin-pyo met with the Spanish Senate leader and the Portuguese president to discuss ways to widen economic cooperation with Korea during his two-nation trip to the respective countries, his office said Wednesday. During their 30-minute meeting in Madrid on Tuesday (local time), Kim and Ander Gil Garcia, president of … Read more
SEOUL– The industry ministry said Wednesday it will run a task force to support steelmakers with post-typhoon recovery work and to check the supply situation of steel products to minimize damage by Typhoon Hinnamnor. Last week, the typhoon hit the southern part of South Korea and affected steelmaking facilities run by major companies, including … Read more
SEOUL– President Yoon Suk-yeol said Wednesday that South Korea’s survival depends on the semiconductor industry. Yoon made the remark during a luncheon with members of a special People Power Party committee on strengthening the chip industry’s competitiveness. “Semiconductors are known as the rice of industries and they are the most important area in … Read more
SEOUL– Insurers’ household lending grew in the second quarter of this year but at a slower pace from a year earlier amid rising borrowing costs, data showed Wednesday. Outstanding household loans extended by local insurers had stood at 129.5 trillion won (US$92.9 billion) as of end-June, up 700 billion won from three months earlier, … Read more
SEOUL– South Korea’s military reported 1,015 additional COVID-19 cases Wednesday, raising the total caseload among its service members to 272,352, the defense ministry said. The new cases included 737 from the Army, 125 from the Air Force, 57 from units under the direct control of the ministry and 52 from the Navy. There … Read more
SEOUL– President Yoon Suk-yeol’s meeting with China’s top legislator Li Zhanshu is being arranged for later this week, although the details have yet to be fixed, according to the presidential office Wednesday. Li, China’s third-ranked official and chief of the Standing Committee of the National People’s Congress, will lead a large government delegation to … Read more
SEOUL– The South Korean currency on Wednesday tumbled below the 1,390 won mark against the greenback for the first time in over 13 years as the higher-than-expected inflation data in the United States stoked worries over the Federal Reserve’s more aggressive monetary tightening. The local currency closed at 1,390.9 won against the U.S. dollar, … Read more
SEOUL– Dragonfly GF Co.on Wednesday announced that it will sell stock to raise 34.1 billion won(US$24.5 million). The proceeds from the stock sale will be used mainly to finance its operations. According to a regulatory filing, the company will issue 29 million common shares at a price of 1,205 won per share. The stock … Read more