Two major South Korean drama productions are entering the US market through joint production and corporate acquisition, as Korean shows are enjoying increasing popularity around the world via online video steaming services. Studio Dragon said Tuesday it has agreed to co-produce a drama series with US company Skydance Television for Apple TV+. JTBC Studios said it signed an agreement to acquire US television and film studio Wiip on Monday. Studio Dragon is affiliated with CJ ENM, the nation's

The virus-hit South Korean performing arts sector is heading for a recovery this spring after plummeting last year, thanks to recently eased social distancing rules, data showed Tuesday. The combined revenue of 2,700 theatrical plays, musicals, classical concerts and other performances reached 70.5 billion won ($63.6 million) over the March-May period, according to the data by the Korea Performing Arts Box Office Information System (KOPIS). The amount more than doubled from the 25.4 billion wo

An Air Force officer and two Army members tested positive for the new coronavirus, the latest in a series of infections at barracks, the defense ministry said Tuesday. The airman in the city of Osan was confirmed to have been infected in a test required to exit quarantine. He has been in isolation after coming into contact with his colleague who tested positive earlier, according to the ministry. One enlisted soldier and an Army officer tested positive following their recent vacations, it adde

An Air Force officer has died in an apparent suicide after being sexually harassed by a colleague, officials said Tuesday. In March, the female master sergeant stationed in the central city of Seosan was sexually harassed by the man surnamed Jang inside a car on their way back to the base after a private gathering that she was forced to attend, according to the officials. She then reported the case to the authorities the following day, but the military allegedly failed to take appropriate step

North Korea criticized some countries for storing an excessive stock of coronavirus vaccines while others suffer from a lack of supplies in a recent United Nations session. In a statement presented at the 74th World Health Assembly last week, North Korea also urged the World Health Organization to help achieve a fair distribution of the vaccines across the globe. "The development of COVID-19 vaccines and medicines might be the achievement for the common mankind whereas an unfair reality i

Samsung Heavy Industries Co. said Tuesday it has signed a 529 billion-won ($477 million) deal with an Asian company to construct four container carriers. The 13,000 twenty foot equivalent unit (TEU) container carriers will be delivered to the Asian company by February 2024, Samsung Heavy said in a regulatory filing. With the latest deal, Samsung Heavy has achieved 65 percent of its annual target of $9.1 billion, by winning orders worth $5.9 billion for 48 ships, the company said. As new orde

Rep. Yun Ho-jung, floor leader of the ruling Democratic Party (DP), has said the country needs to come up with another round of universal COVID-19 response stimulus checks in time for the national attainment of herd immunity. "(The government) needs to provide emergency handouts and take measures for grand economic reconciliation as a new strategy to reinvigorate the economy for the post-COVID-19 era," the ruling party floor leader said in an interview with Yonhap News Agency at the N

LG Electronics Inc. is fast converting its overseas smartphone manufacturing lines into facilities that produce home appliances, industry insiders said Tuesday, following its decision to withdraw from the mobile business. LG said the Brazilian government last month approved its plan to expand its Manaus plant in Amazonas, northwestern Brazil, in a move to shift its production lines from the Taubate site on the east coast. When the $62 million project is completed, LG Electronics will have ne

South Korean stocks opened nearly flat Tuesday as investors are keeping an eye on signs that may stoke inflation fears. The benchmark Korea Composite Stock Price Index (KOSPI) traded down 1.36 points, or 0.04 percent, at 3,202.56 points in the first 15 minutes of trading. The KOSPI got off to a muted start on investor concerns over early post-pandemic inflation that may trigger tapering talks in the United States. Key Federal Reserve officials are set to comment on the state of the US economy

South Korea's daily new coronavirus cases remained in the 400s for the third consecutive day Tuesday, while health authorities are easing distancing rules for vaccinated people to speed up the inoculation drive. The country reported 459 more COVID-19 cases, including 449 local infections, raising the total caseload to 140,799, the Korea Disease Control and Prevention Agency (KDCA) said. It is the first time that the daily caseload has stayed around 400 for three days in a row since late March,

South Korea's exports jumped 45.6 percent on-year in May to extend their gains to a seventh consecutive month due to strong demand for chips amid the global economic recovery, underscoring a rebound from the pandemic-caused slump, data showed Tuesday. Outbound shipments came to $50.7 billion last month, compared with $34.8 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. Imports rose 37.9 percent to $47.8 billion, resulting in a trade surplu

ONE store, a South Korean app market operator, said Tuesday it received a combined 17 billion won ($15 million) in funding from Microsoft Corp. and the venture capital arm of Deutsche Telekom as it prepares to go public later this year. Microsoft will invest 11.3 billion won in the app market company, a subsidiary under major mobile carrier SK Telecom Co., while Deutsche Telekom Capital Partners will chip in 5.5 billion won, according to ONE store. The move comes after local telecom operators

The growth rate of South Korea's consumer prices for May is estimated to have remained high due largely to last year's low base, a senior government official said Tuesday, amid concerns about growing inflationary pressure. First Vice Finance Minister Lee Eog-weon said the growth of consumer inflation is likely to surpass 2 percent in the second quarter, but annual inflation is not likely to top the central bank's target of 2 percent. He said the government will unveil a set of measures to help

For her first solo album, Joy of K-pop girl group Red Velvet decided to travel back in time to the 1990s and 2000s, when K-pop was far from the glitzy empire it has become. The 24-year-old singer, who picked six songs, including one that was released in the year she was born, said singing these oldies but goodies was natural for her. "I really like the retro sentiment to the extent that I think I want to be born in that era," Joy said in a livestream news conference marking her debut

South Korea discovered 28 more bone fragments believed to be from troops killed in the 1950-53 Korean War as well as thousands of artifacts inside the Demilitarized Zone (DMZ) so far this year, the defense ministry said Tuesday. The military resumed a demining and excavation operation on Arrowhead Ridge in Cheorwon, about 90 kilometers northeast of Seoul, on April 5, after months of hiatus during winter, to continue the project launched in 2019. Over the past two months, the military has disco

Loans extended by insurance companies in South Korea rose 7 percent on-year in the first quarter, led by gains in home-backed lending and corporate loans, the financial watchdog said Tuesday. Insurers' outstanding loans totaled 255.1 trillion won ($229 billion) as of end-March, compared with 238.4 trillion won the previous year, according to the Financial Supervisory Service (FSS). Their loans to households rose 3.6 trillion won on-year to 124.9 trillion won as of end-March, as the extension

The BTS megahit "Dynamite" has racked up 1.1 billion views on YouTube, becoming the band's third music video to reach the milestone. The seven-piece act's first English-language single hit the milestone at 3:46 a.m. on Tuesday, according to Big Hit Music. The feat comes roughly 10 months after the group released the upbeat disco-pop track on Aug. 21. The song earned BTS its first No. 1 debut on the Billboard's main singles chart as well as its first Grammy nomination. BTS now has th

South Korea on Tuesday held the sixth round of free trade talks with a group of South American countries, after around a year of hiatus amid the COVID-19 pandemic. The two parties kicked off the four-day meeting virtually to set details on the pending trade agreement, according to the Ministry of Trade, Industry, and Energy. The previous meeting was held in Uruguay in February 2020. South Korea launched its first talks with the four member states of the South American trade block Mercosur -- B

South Korea's intelligence chief is expected to return home Tuesday after a weeklong trip to the United States that apparently focused on discussions with his counterparts on North Korea, sources said. National Intelligence Service (NIS) Director Park Jie-won had been in the US since his departure on May 26. His trip drew keen attention as it came just days after President Moon Jae-in and US President Joe Biden held a summit and agreed to use diplomacy to resolve the North's nuclear standoff.

A team of state prosecutors requested Monday that a local court sentence the mother-in-law of Yoon Seok-youl, a former top prosecutor, to three years in jail. The 74-year-old, identified only by her surname Choi, is accused of violating the Medical Service Act in connection with her involvement in a nursing facility. She illegally received about 2.29 billion won ($20 million) from the National Health Insurance Service while running the nursing hospital in Paju, Gyeonggi Province, from 2013-20