Seoul shares ended higher on Wednesday as investors remain cautious about surging inflation and a global economic slowdown. The South Korean won rose against the US dollar. After choppy trading, the Korea Composite Stock Price Index (KOSPI) rose 11.35 points, or 0.44 percent, to 2,617.22. Trading volume was light at 698.94 million shares worth 8.2 trillion won ($6.5 billion), with gainers outpacing decliners 485 to 360. Institutions bought a net 507 billion won worth of stocks, offsetting foreig

Starting next month, South Korea and Japan will resume flight services between Seoul’s Gimpo and Tokyo’s Haneda airports. Korea Airports Corp. said during its regular briefing Tuesday that it is currently discussing the exact date and immigration procedures with the Japanese government before reopening flights between Gimpo and Haneda. Once resumed, there will be 16 flights provided every week by Korean Air, Asiana Airlines, Japan Airlines and All Nippon Airways. The air route ha

Hiking ranks as one of the top attractions on foreigners’ to-do lists when visiting Seoul, a recent survey showed, but some raised concerns over the lack of information available. A survey conducted in April showed 83 percent of foreigners in the so-called “Generation MZ” -- those born between 1980 to 1995-- are willing to go for hikes while in Seoul. In order to gauge the interests of potential incoming tourists, the joint survey was conducted by the Seoul Metropolitan Gover

LG Display said Wednesday that media artist Refik Anadol’s “An Important Memory for Humanity,” a non-fungible token work of art on its transparent OLED display, recently raked in $6.2 million at auction. LG is the sole producer of a large-size transparent OLED display that boasts glass-like clarity to be used across industries, including digital art.

With Millennials and Generation Z -- those born from the 1980s onward -- emerging as major players in the luxury industry, South Korea ranked No. 10 in high-end fashion transactions last year, a report showed Wednesday According to Samjong KPMG, a Seoul-based consulting firm, the country’s luxury goods market size soared on-year by 29.6 percent to $5.8 billion in 2021. By 2024, it is projected to exceed $7 billion. Foreign luxury brands in major department stores in South Korea have see

South Korean steelmaking giant Posco said Wednesday that its high manganese steel which withstands extremely low temperatures has received technical approval from global energy firm ExxonMobil for usage in LNG storage tanks. The two firms joined in a technical partnership in 2020 to expand the use of high manganese steel which Posco succeeded in mass-producing for the first time in the world. High manganese steel is a new type of material that Posco has developed in 2013, by adding 10 to 30 p

Calibrated, planned missile launches aim to deliver protest message to Biden, resist alliance effort to advance combat readiness against N. Korea

As South Korea grows more multicultural, more voices call for legal framework to stop racial discrimination

China and Russia protest as US president travels to Seoul, Tokyo to bolster regional prominence

Korea’s performance test satellite to be loaded on homegrown launch vehicle

This year’s H.eco Forum, held under the theme of “Climate Crisis and the Ocean,” is to shed light on the risks our oceans are facing and the possible consequences for humanity. H.eco Forum, launched last year, is an annual event designed to bring awareness on climate crisis. It invites environment experts in and out of Korea, serving as a platform for discussions. The upcoming edition of the forum will take place at Multipurpose Hall on Nodeulseom in Seoul, Thursday, featu

Korbit, one of South Korea’s top four cryptocurrency exchanges, has decided to delist luna, the sister coin of controversial stablecoin terraUSD, on Wednesday, following in the steps of other top platforms such as Bithumb and Upbit. The decision comes a day after chiefs of major crypto exchanges here were criticized by lawmakers for their “uncoordinated” response towards the price fall fiasco of terraUSD and luna. The exchanges failed to coordinate when to delist luna, with

Samsung Electronics said Wednesday it has partnered with US software company Red Hat to develop software technologies for next-generation memory solutions, as the industry is anticipating the birth of software to be integrated in memory chip hardware. Red Hat, an IBM subsidiary, is known for Red Hat Enterprise Linux, a commercial open-source Linux operating system distribution developed by the company. Under the partnership, Samsung and Red Hat will jointly develop and validate a software tha

Standard Chartered Bank Korea said it will offer a special interest rate of up to 2 percent per annum to new customers opening a checking account by May 31. Launched in July last year, the SC My Signature account has been popular for its stable interest rate amid high market volatility. For those with over 100 million won ($79,140) in SC bank transactions, an interest rate of up to 1.7 percent will be applied to the amount in deposit for 31 or more days, the bank said. For those making their

Last available poll results hint landslide win for People Power Party