SEOUL– South Korea plans to hold an interagency government meeting on its policy on North Korea’s human rights situation this week in an effort to improve the North’s rights conditions, according to the unification ministry Monday. The meeting, to be presided over by Vice Unification Minister Kim Ki-woong, will be held Friday to discuss … Read more
SEOUL– Seoul shares extended losses late Monday morning on foreign selling amid worries over the Federal Reserve’s sharper rate hikes following a stronger-than-expected jobs report. The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.12 points, or 0.21 percent, to 2,429.21 as of around 11:20 a.m. The main index opened lower Monday following … Read more
SEOUL– POSCO Chemical Co. said Monday it has clinched a long-term deal to supply a key battery material to the U.S.-based joint venture between South Korea’s LG Energy Solution Ltd. and General Motors Co. POSCO Chemical will supply US$688.6 million worth of artificial graphite, a material used as anodes in lithium-ion batteries for electric … Read more
SEOUL– South Korea’s foreign reserves increased in November as the dollar-converted value of holdings rose thanks to the greenback’s fall, central bank data showed Monday. The country’s foreign reserves stood at US$416.1 billion as of end-November, up $2.09 billion from the previous month, according to the data provided by the Bank of Korea (BOK). … Read more
SEOUL– President Yoon Suk-yeol pledged again Monday to turn South Korea into a top five exporting nation by 2026 by channeling the government’s efforts to boosting exports. Yoon made the remark during an event marking the 59th Trade Day amid the trade ministry’s forecast exports will reach a record US$680 billion this year to … Read more
SEOUL– Samsung Electronics Co. on Monday promoted a female executive to the president of global marketing for its mobile business, in the first move to tap a female talent for the top post. Lee Young-hee was promoted to the president of the Global Marketing Center for Samsung’s Device eXperience (DX) division that oversees its … Read more
SEOUL– South Korea’s antitrust regulator said Monday it has made another unsuccessful attempt to investigate the union of striking truckers as the members continued to block the on-site probe. Earlier in the day, officials of the Fair Trade Commission (FTC) visited the offices of the Korean Public Service and Transport Workers’ Union in Seoul … Read more
SEOUL– Four senior police officers separately attended a court hearing on Monday to determine whether they will be arrested for their alleged bungled response to the deadly crowd crush in Seoul’s Itaewon neighborhood. The four are Lee Im-jae, former head of the Yongsan Police Station covering the Itaewon district; Park Sung-min, former high-ranking intelligence … Read more