SK Telecom Co., South Korea's top wireless carrier, decided Thursday to spin off a new investment company in November to expand its foothold in new tech sectors, as well as conduct a 5-for-1 stock split aimed at improving shareholder value. The wireless carrier's board of directors approved the spinoff plan, and the new company, tentatively named SKT Investment Co., will be split on Nov. 1, according to a company regulatory filing. Under the spinoff, SK Telecom's shares will be divided 6-for-4

An American service member stationed at a US military base near Seoul has tested positive for the new coronavirus while an additional 11 service members were confirmed to have contracted the virus following their arrival here, US Forces Korea (USFK) said Thursday. A soldier at US Army Garrison Humphreys in Pyeongtaek, 70 kilometers south of Seoul, was found to be infected with COVID-19 on Wednesday after showing symptoms, according to the US military. The patient last visited the base Tuesda

Kia Corp., South Korea's second-biggest carmaker, said Thursday presale orders for its first all-electric model, EV6, have been fully reserved in one day in the United States. Kia sold all of the 1,500 units of the EV6 First Edition in an online preorder event in the world's most important automobile market on Tuesday (US time), the company said in a statement. The EV6 First Edition is equipped with a 77.4 kilowatt-hour (KWh) battery, an augmented reality head-up display, remote parking assist

South Korea and the United States have established a senior-level expert group to follow up on their summit deal on their "vaccine partnership," Cheong Wa Dae said Thursday. The inaugural session of the task force was held via video link the previous night with government officials of the two sides in attendance, it said in a press release. They included a dozen representatives from the White House, the Department of Health and Human Services, and the US International Development Fin

WASHINGTON -- The United States seeks to engage with North Korea diplomatically to make progress toward the denuclearization of the Korean Peninsula, a State Department spokesman said Wednesday. Ned Price also said the newly appointed special US representative for North Korea, Sung Kim, will continue to work toward that end. "So the policy that we have spoken to calls for what we have deemed a calibrated, practical approach, that explores diplomacy, that is predicated on diplomacy with th

Foreign Minister Chung Eui-yong expressed hope Wednesday that relations bewteen the United States and China will develop in a "stable" manner during phone talks with his Chinese counterpart, stressing the importance of cooperation in tackling global challenges. The phone talks between Chung and Wang Yi came as President Moon Jae-in prepares to attend the upcoming Group of Seven (G7) summit in Britain, where US President Joe Biden is expected to rally major democracies against an asser

Forward Kim Shin-wook had a brace and teen sensation Jeong Sang-bin scored in his international debut, helping South Korea beat up on Sri Lanka 5-0 in a World Cup qualifying match at home on Wednesday. Hwang Hee-chan and Lee Dong-gyeong had a goal apiece against 10-man Sri Lanka at Goyang Stadium in Goyang, Gyeonggi Province, as South Korea remained atop Group H in the second round of the Asian qualification for the 2022 FIFA World Cup. South Korea improved to 13 points from four wins and

The South Korean men's national football team paid respect to the late star Yoo Sang-chul before a World Cup qualifying match on Wednesday. Yoo died of cancer on Monday at age 49. The former midfielder was instrumental in South Korea's stunning march to the semifinals at the 2002 FIFA World Cup, and was named to the All-Star Team after the tournament. He appeared in 128 international matches. Before South Korea's kickoff against Sri Lanka in the second round of the Asian qualifying for the 202

GWANGJU -- A building collapsed during demolition in the southwestern city of Gwangju on Wednesday, leaving at least nine people dead and eight others seriously injured, fire officials said. They received a report at 4:22 p.m. that the 5-story building had collapsed and fell onto a bus that was stopped at a station near the construction site. As of 8:40 p.m., nine people were confirmed dead and eight others were seriously injured and taken to nearby hospitals. All of them are bus passengers.

South Korea has designated 26 new state-funded Korean language institutes abroad, the culture ministry said Wednesday, as part of efforts to help more people learn about the Korean culture and language. The 26 new institutes are located in 18 countries, including Bolivia, Morocco, Nepal, Slovenia and Tanzania, where such institutes will first open, according to the Ministry of Culture, Sports and Tourism. Some 85 organizations in 43 countries had applied to be selected as a King Sejong Institu

Police announced Wednesday they have found no evidence of undue external influence in a botched investigation of an assault incident involving former Vice Justice Minister Lee Yong-gu, following a monthslong review of the police's handling of the high-profile case. Police have been investigating the circumstances and their response surrounding Lee's alleged assault of a taxi driver in November. Lee, who was then a private attorney, allegedly hurled insults at the driver and grabbed him by the c

Jeju Island, South Korea's most popular holiday destination, registered the highest rate of incidence of coronavirus cases over the recent week among local regions, authorities said Wednesday. Jeju's provincial government said 102 people tested positive for COVID-19 on the southern resort island during the past seven days, posting a weekly incidence rate of 20.9 people per 1 million. The weekly incidence rate is an indicator of how many people are infected per day per 1 million in the area dur

South Korean stocks retreated for second straight day on Wednesday as investors took to the sidelines ahead of the release of US consumer price data that may give more clues about the Federal Reserve's next move. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) declined 31.65 points, or 0.97 percent, to close at 3,216.18 points. Trading volume was moderate at about 1.9 billion shares worth some 16.9 trillion won ($15.2 billion), with losers out

President Moon Jae-in will make a trip to Britain for the Group of Seven (G-7) summit this weekend followed by state visits to Austria and Spain for talks on bilateral ties, Cheong Wa Dae announced Wednesday. Moon plans to leave for the British coastal county of Cornwall on Friday to attend the G-7 session as a guest at Prime Minister Boris Johnson's invitation. It will be Moon's first attendance at the G-7's annual summit. He was invited to last year's meeting, which was supposed to be hosted

The main opposition People Power Party (PPP) is set to officially request Wednesday an inspection by state auditors into real estate dealings by all its sitting lawmakers to determine if any of them is involved in a public sector land speculation scandal. The PPP's deputy floor leader Rep. Choo Kyung-ho is scheduled to visit the Board of Audit and Inspection (BAI) in the afternoon to submit a letter requesting an inspection into property transactions of all its 102 lawmakers, according to part

Samsung Heavy Industries Co. said Wednesday that it has teamed up with a local nuclear research institute to develop nuclear-powered ships. Under the cooperation with the Korea Atomic Energy Research Institute (KAERI), Samsung Heavy plans to develop molten salt reactors, a kind of small module reactor using molten fluoride salts as the primary coolant, at low pressure, which have been emerging as a carbon-zero nuclear energy source. Samsung Heavy will tap into the market of floating nuclear po

The government on Wednesday announced plans to offer discounts and other promotions to vaccinated people in its latest efforts to achieve herd immunity by November. Those who have been vaccinated will be eligible to apply for free guided tours at royal palaces and other events at such venues within 14 days following their vaccinations, according to the Cultural Heritage Administration. The cultural heritage agency said it will limit in-person attendance for some programs scheduled for June to

Samsung Electronics Co. said Wednesday it has developed an 8-nanometer (nm) process technology for radio frequency (RF) chips as the South Korean tech giant eyes to beef up its foundry service for 5G mobile semiconductors. Samsung said its 8nm foundry will deliver 5G single-chip RF solutions supporting sub-6-gigahertz to millimeter wave spectrum. A RF integrated circuit is a semiconductor used for radio frequency signal receiving or transmission and analog-digital conversion in connection with

The number of accidents involving e-scooters more than tripled between 2018 and 2020 in Seoul, fire authorities said Wednesday. The Seoul Metropolitan Fire and Disaster Headquarters said it responded to 366 e-scooter accidents over the three years: 57 in 2018, 117 in 2019 and 192 in 2020. The increase is in line with growing public use of the personal mobility devices. Collisions between e-scooters and cars occurred the most frequently, accounting for 107 cases, or 29.2 percent of the total.

South Korea said Wednesday it plans to provide consulting services for exporters of antivirus products in efforts to foster the biohealth sector as a new growth engine. Under the plan, the government will launch a joint consultative group with the private sector, according to the Ministry of Trade, Industry and Energy. The country's exports of biohealth products, which include COVID-19 test kits, came to $14 billion in 2020, soaring 54.4 percent from a year earlier. The latest move came as so