BARCELONA -- South Korean President Moon Jae-in attended a major annual economic forum of Spain with King Felipe VI on Wednesday. Addressing the inaugural dinner of the three-day event in Barcelona, Moon proposed that the two countries spearhead preparations for the post-coronavirus era via a win-win approach. "The two countries have complementary industrial structures," he said. "Synergy through cooperation would be great." He pointed out that Spain is a global leader in

  　Two Spanish companies will invest a combined $200 million in the renewable energy business in South Korea, Seoul‘s trade ministry said Wednesday. 　 　Madrid-based Ocean Winds decided to make an initial investment worth $100 million to establish an offshore wind power plant in Incheon, west of Seoul, according to the Ministry of Trade, Industry and Energy. 　 　Ocean Winds was founded in 2019 as a joint venture of Spanish energy enterprise EDPR and French company ENGIE to invest in wi

South Korean conglomerates appear to be gradually changing their recruitment methods in favor of experienced workers and year-round recruitment of new employees. A public organization said Wednesday that major domestic companies are planning to fill about 40 percent of their new job openings with experienced workers, as opposed to fresh university graduates, in the second quarter of this year. According to the Korea Employment Information Service (KEIS), 137 out of the nation's top 500 compani

Small businesses with five to 49 employees will be required to enforce a 52-hour workweek next month as planned by the government, the labor ministry said Wednesday, rejecting industry demands for a grace period. The Ministry of Employment and Labor said it commissioned a survey of 1,300 small businesses in April and 93 percent of them responded that they were ready to implement the system starting July 1 as scheduled. Around 82 percent said they had already begun. In the manufacturing sector

St. Louis Cardinals' South Korean starter Kim Kwang-hyun took a no-decision in his first start back from a stint on the injured list (IL), as his struggles with command continued. Kim gave up a run on three hits in six innings against the Miami Marlins at Busch Stadium in St. Louis on Tuesday (local time). He allowed a season-worst five walks and was lucky to keep the Marlins to a run, as the Cardinals rallied for a 2-1 win. Kim hasn't won since April 23 and had lost four consecutive decisions

With six 20-something international rookies on the pitching staff alone, the South Korean baseball team for the Tokyo Olympics will have a youthful flavor. And the country could still put together a competitive team with veterans left off this time. National team manager Kim Kyung-moon unveiled his 24-man roster Wednesday at the Korea Baseball Organization (KBO) headquarters in Seoul. Conspicuous by their absence were two former major leaguers currently plying their trade in the KBO: Choo Shi

South Korean stocks set a fresh high for three consecutive sessions on Wednesday as investors scooped up blue-chip shares ahead of the release of the Federal Reserve's meeting results. The benchmark Korea Composite Stock Price Index (Kospi) gained 20.5 points, or 0.62 percent, to finish at 3,278.68. Trading volume was moderate at 2.2 billion shares worth 15.9 trillion won ($14.23 billion), with gainers outpacing losers 519 to 324. The index also extended its winning streak to a whopping five s

The labor union of major display maker Samsung Display Co. said Wednesday its union leadership plans to go on strike next week, as the union and the management failed to narrow differences in wage talks, marking the first-ever walkout for the company and any Samsung Group affiliate. The labor union said its six officials will first stage a walkout on Monday and will encourage more members to join the move. It will be the first strike for any Samsung affiliate since Samsung Electronics Vice Cha

South Korea has reported its second case of unusual blood clotting in a recipient of the AstraZeneca COVID-19 vaccine, health authorities said Wednesday. The Korea Disease Control and Prevention Agency (KDCA) said the man in his 30s was confirmed to have the very rare but serious side effect, called thrombosis with thrombocytopenia syndrome, following inoculation on May 27. The patient showed symptoms of a severe headache and nausea nine days after receiving the vaccine shot, the KDCA said.

The ruling Democratic Party (DP) will push to include not only universal COVID-19 stimulus checks and support schemes for small businesses but also special cashback rewards for credit card spending in the upcoming extra budget aimed at fighting the aftermath of the pandemic, the party's chairman said Wednesday. "The DP and the government will draw up the extra budget based on a package of three measures -- additional aid for small businesses hit by (antivirus measures), disaster relief pay

From free tickets to discounted travel, and to advantages in hiring, local governments are offering various incentives to encourage people to get vaccinated against COVID-19. As of Tuesday, 25.7 percent of South Koreans have received their first dose of a vaccine and 6.8 percent have been fully vaccinated, health authorities said. Aiming to achieve herd immunity by November, the government is striving to speed up inoculations with incentives for vaccinated people, such as lifting mask requirem

Thousands of unionized delivery workers continued their strike for a second day in Seoul on Wednesday, calling on logistics firms to implement an agreement on preventing overwork. Around 4,000 workers belonging to the Parcel Delivery Workers' Solidarity Union resumed their protest, after spending a night outdoors in tents or on mats at Yeouido Park, western Seoul. The overnight protest was timed with the resumption of the final meeting over the implementation of overwork prevention measures.

JEONJU -- Rep. Lee Sang-jik, an independent lawmaker and founder of budget carrier Eastar Jet, was given a suspended prison sentence Wednesday for violating election laws. The local district court in Jeonju, 240 kilometers south of Seoul, sentenced Lee to 16 months in prison, suspended for two years. Lee is the first sitting lawmaker of the 21st National Assembly to receive a prison term for violating election laws. If the ruling is confirmed by the top court, he will lose his parliamentary

The European Union is seeking to extend its safeguard measures against South Korea steel products for another three-year period, industry sources said Wednesday. The European Commission has recently notified the World Trade Organization (WTO) that it plans to maintain its current level of tariffs on imported steel products, according to sources from the Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency. The EU has been charging a 25 percent duty on imported

South Korea's exports are expected to remain resilient in the second half of the year on a series of positive external factors, the central bank said Wednesday. The upbeat forecast by the Bank of Korea (BOK) comes amid a recent surge in South Korea's overseas shipments on the back of a global economic recovery. "With the impact of IT sector's supply-side negative factors easing, major economies are likely to continue their rebound on an increase in global chip demand, the effect of US sti

KT Corp., a South Korean telecom giant, said Wednesday it has tested an autonomous cruise ship being remotely controlled hundreds of kilometers away on its high-speed 5G network. The telecom operator said a 12-person cruise ship navigated through the narrow 10-kilometer Pohang Canal in the port city, 302 kilometers southeast of Seoul, without a captain on board and with it being controlled from its offices in Gwacheon, just south of the capital. KT said it partnered with Avikus Corp., an auton

Toronto Blue Jays' South Korean starter Ryu Hyun-jin saw his personal winless skid reach three games after his bullpen frittered away a lead in late innings. Ryu held the New York Yankees to three runs on three hits in six innings in a 6-5 Toronto loss at Sahlen Field in Buffalo, New York, on Tuesday (local time). The left-hander walked a season-worst four batters, and both of the New York runs came via solo shots. Ryu handed the reins to the bullpen with a 5-3 lead through six, but reliever A

The delinquency rate for South Korean banks' won-denominated loans rebounded in April from a record low the previous month as lenders cleared smaller amounts of bad debts, the financial watchdog said Wednesday. The rate for bank loans more than 30 days overdue stood at 0.3 percent at the end of April, up 0.02 percentage point from an all-time low of 0.28 percent the previous month, according to the Financial Supervisory Service (FSS). Compared with a year earlier, the banks' loan delinquency r

Foreign currency deposits at banks in South Korea declined in May from a record high in the previous month as some companies withdrew their FX holdings, central bank data showed Wednesday. Outstanding foreign currency-denominated deposits held by residents amounted to $94.7 billion as of end-May, down $100 million from an all-time high of $94.8 billion the previous month, according to the Bank of Korea (BOK). Residents include local citizens, foreigners staying here for more than six months an

A Japanese-language compilation album of BTS songs has shipped 1.1 million units on its first day, the band's agency said Wednesday. Shipments of "BTS, The Best," the seven-piece band's new album, surpassed 1.1 million units on its first day of release in the Asian country, according to Big Hit Music. The 23-track album includes Japanese-language songs such as "Film Out," "Your Eyes Tell" and "Crystal Snow." It also includes Japanese versions of the band