Foreign Minister Cho Tae-yul said Wednesday he takes "full responsibility" for the controversy over Japan's memorial ceremony for Korean wartime forced labor victims, expressing regret over Tokyo's failure to honor the promises it made to the international community. Criticism emerged after Japan hosted the event for Sado mine forced laborers earlier this week, which failed to properly acknowledge the victims or the site's full history of forced mobilization of labor dur

SK hynix on Wednesday announced plans to increase dividend payouts by 25 percent per share by 2027 as part of a broader strategy to boost corporate value amid the chipmaker's rapid growth in the artificial intelligence chip market. As part of its new shareholder return program, the company will raise annual dividends to 1,500 won ($1.08) per share over the next three years, up from the current 1,200 won. This will result in a total annual dividend payout of approximately 1 trillion won, SK

Lotte Group, one of South Korea's largest conglomerates, said Wednesday it will provide Lotte World Tower in Seoul as collateral for the corporate bonds of its financially-strapped chemical unit in an effort to address market concerns about a potential liquidity crisis. In a regulatory filing, the group said it will use the 123-story supertall skyscraper, one of its key assets worth 6 trillion won ($4.31 billion), as additional collateral for bonds issued by Lotte Chemical Corp. A bondholde

Seoul subway Line No. 2 was delayed over 20 minutes during morning rush hour due to a conductor taking an urgent toilet break on Monday, according to Seoul Metro. The conductor who was driving a train on the outer lane of the circular route had to leave the train urgently to use the toilet in a station at 8:11 a.m. While an engineer watched the train, the conductor ran down the platform and returned in 4 minutes 16 seconds after using the restroom on another floor. However, the 125 trains follow

President Yoon Suk Yeol met with a delegation from Ukraine led by the country's Defense Minister Rustem Umerov on Wednesday at his office in Seoul, according to Yoon's office. Yoon was quoted by the presidential office as saying that he hoped South Korea and Ukraine could find a practical breakthrough to counter the security threat posed by military cooperation between North Korea and Russia. Yoon's office did not disclose what Umerov said during his meeting with Yoon. Following the meeting, Ume

The presidential office on Wednesday expressed concerns about the potential impact of President-elect Donald Trump's proposed tariffs on Korean businesses in Mexico and Canada, vowing proactive measures to address the risks. Sung Tae-yoon, the presidential chief of staff for policy, held an interagency meeting to assess the potential effects of Trump's pledge to levy a 25 percent tariff on all products from Mexico and Canada, along with an additional 10 percent tariff on China. Trump&#

South Korea in September saw the largest on-year increase in the monthly number of childbirths in nearly 14 years, government data showed Wednesday. According to Statistics Korea, 20,590 babies were born in September, which was 1,884 more than the same month in 2023. The on-year increase was the largest since January 2011 percentage-wise, and the most since March of 2015 in terms of the number of babies born. It was the third straight month in which 20,000 or more babies were born, with 20,601 i

The Ministry of Education approved Yonsei University's plan to conduct an additional essay test for natural sciences applicants after the original exam -- part of the 2025 admissions cycle -- was marred by a leaked question. The decision aims to resolve ongoing legal disputes over the leak and stabilize the university’s admissions process. The additional test, scheduled for December 8, comes in response to a court ruling that suspended the results of the original exam after proctors a

  Viva Republica, operator of the mobile financial service Toss, has been paving the way in shifting the dynamics of the traditional financial environment with its innovative services. With the goal of providing a full range of financial solutions through a single super app, Toss, Viva Republica has introduced a wide array of cutting-edge services, from banking and brokerage to insurance and beyond. Toss made its name in August 2021 by not charging commissions for transfers, a feat that sho

Heavy snow warnings were issued across the country as South Korea -- especially the Greater Seoul area and Gangwon Province -- experienced heavy snowfall nationwide, with more expected overnight. According to the Korea Meteorological Administration, more than 20 centimeters of snow covered parts of Seoul as of 7 a.m., Wednesday morning. Normally, a warning is issued by the KMA when snowfall is expected to reach above 20 cm within 24 hours. The last time a snowfall warning was issued by the KMA

As insurance companies grapple with finding new growth drivers, Hanwha Life has shifted its focus overseas, exploring new markets and sectors while expanding partnerships. A key milestone has been reached in Vietnam, where Hanwha Life’s local subsidiary achieved its first cumulative profit since entering the market in 2008. This marks the first such accomplishment among fully owned overseas subsidiaries of a Korean insurer. Building on this momentum, Hanwha Life aims to become the fifth-la

Several stories of police officers stepping up to provide urgently needed medical attention have been reported across the country this week. The Seoul Metropolitan Police Agency said Tuesday that a quick-thinking police officer saved a woman suffering from hypoglycemia by buying candy for her. In a video posted on the SMPA's official YouTube page, the woman can be seen falling to the floor in Geumcheon-gu, Seoul on Nov. 18, shaking and unable to communicate. A police officer from the Seoul

NewJeans' agency Ador, on Wednesday, called on its sister company Belift Lab to demonstrate a sincere and respectful approach to the recent workplace harassment allegations involving member Hanni. The demand came just one day before the deadline for NewJeans’ ultimatum that Ador “rectify all major contract violations within 14 days” or they will terminate their exclusive contracts with the agency. Among the conditions listed in NewJeans’ certification of contents sen

Two student organizations hosted a peace forum and concert at Imjingak, a site near the Demilitarized Zone, the buffer zone between South and North Korea, to commemorate the Korean War and honor its veterans. The groups -- the Mind Shelter Project and Past for Present -- organized the "Youth International Peace Forum and Concert" in the lead-up to UN Veterans International Memorial Day on Nov. 11, building on their inaugural event from last year. The program, themed, "Unforgetting

Mirae Asset Securities, South Korea's largest stock brokerage company, has shown unparalleled performance with its aggressive global expansion strategy and significantly increased customer assets, despite the higher interest rate environment that put pressure on stock valuations. Managing the largest overseas stock balance and pension assets in Korea, Mirae Asset has generated solid profitability centered on asset management this year. Its customers’ investment returns from overse

Kakao Bank, a major online lender in Korea, is bolstering its presence in Southeast Asia with reinforced partnerships with Indonesian digital bank Superbank. The bank on Wednesday announced it has signed a contract to collaborate on developing new financial products with Superbank, a digital bank in which Kakao Bank is one of the major shareholders. According to the new contract, Kakao Bank will provide consulting for Superbank’s new financial products, leveraging its expertise in mobile

Mirae Asset Global Investments has continued to expand its presence in global markets. Of its total assets under management at 370 trillion won ($265 billion), almost 40 percent are now managed overseas. When Mirae Asset first ventured into overseas markets back in 2003, it was met with considerable skepticism. Critics doubted whether the company could compete with established giants such as Goldman Sachs and Merrill Lynch. However, Mirae Asset Founder Park Hyeon-joo recognized the long-term p

Kyobo Life Insurance, one of Korea’s leading life insurers, has launched a new life insurance plan that combines the benefits of whole life insurance with added lifetime protection for cancer and long-term care. The “Kyobo Cancer and Whole Life Care Insurance” provides financial support for policyholders diagnosed with cancer or requiring long-term care. During the premium payment period, the plan guarantees a full refund of premiums paid under the main contract, while waiving

Shinhan Financial Group is intensifying efforts to enhance its corporate value, with Chairman Jin Ok-dong leading initiatives both domestically and internationally. In November, Jin attended a joint investor relations event in Hong Kong, organized by South Korea's Financial Supervisory Service, following a similar event in New York in May. He presented Shinhan's corporate value enhancement plan, outlined strategies for strengthening South Korea's capital market, and discussed glob

Hana Financial Group recently hosted a ceremony with the Korean Ministry of SMEs and Startups to celebrate surpassing 10,000 holders of its savings accounts tailored for small and medium-sized enterprise workers. Late last month, Hana Bank launched a savings program in collaboration with the ministry to support the growth of SMEs by helping their employees build a nest egg and encouraging longer tenures with their companies. Employees who deposit at least 100,000 won ($71.6) per month can receiv