President Moon Jae-in on Friday emphasized the importance of close cooperation between his Cheong Wa Dae team and the ruling party in handling major policy issues during the remainder of his tenure. Meeting with the leaders of the Democratic Party (DP) at Cheong Wa Dae, he recalled frequent rifts between South Korea's ruling parties and lame-duck presidents. When a presidency was on the home stretch, there used to be a chasm between a ruling party and the government, Moon pointed out. "T

South Korea is considering ways to hold bilateral consultations with Japan on Tokyo's planned release of radioactive water from the crippled Fukushima nuclear power plant, the foreign ministry said Friday. A local news outlet reported earlier that the two countries agreed to form a consultative group to exchange information and views on risks, verification and legal issues and other details related to the Fukushima water release. South Korea has expressed concerns about potential health risks

Hyundai Motor Co. and its affiliate Kia Corp. said Friday they will suspend some of their assembly lines for several days next week due to semiconductor shortages. Hyundai Motor plans to halt the No. 5 Ulsan plant, which produces the Tucson sport utility vehicle and the Nexo hydrogen fuel-cell electric vehicle, from Monday to Tuesday and the No. 3 Ulsan plant that produces the Avante compact and the Venue subcompact on Tuesday, a company spokesman said. Hyundai suspended the No. 1 Ulsan plant

The foreign ministry on Friday extended the special advisory against overseas travel for another month amid the prolonged coronavirus pandemic. The advisory calls for South Koreans not to go abroad unless the trip is essential and for those staying outside of the country to take extra precautions for safety. The measure will be effective until June 15 and can be extended again. The extension came as foreign countries maintain their entry restrictions and the majority of international flights

Samsung Biologics, a biopharmaceutical unit of South Korea's top conglomerate Samsung Group, said Friday that it has not been decided yet whether it will manufacture Moderna Inc.'s COVID-19 vaccines here. A slew of local newspapers reported that Samsung Biologics is close to signing a contract manufacturing organization (CMO) contract to manufacture the US drug firm's mRNA vaccine against the novel coronavirus at plants in Songdo, west of Incheon. "Nothing has been decided yet," Sams

Gyeonggi Gov. Lee Jae-myung has overtaken Yoon Seok-youl, the former prosecutor general, for the first time in a hypothetical two-way presidential hopeful poll released Friday. In a survey conducted by Gallup Korea on 1,007 adults nationwide from Tuesday to Wednesday, 42 percent picked Gov. Lee, affiliated with the ruling Democratic Party (DP), as their favored candidate for the next presidential election slated for March 2022. Yoon, who has led the presidential hopefuls' race in various pol

South Korea's domestic demand is gradually improving as a slump in the service sector caused by the pandemic has eased, the finance ministry said Friday. In its monthly economic assessment report, the ministry presented a more positive assessment about private consumption than the previous month, when it said a slump in domestic demand has gradually eased. "The manufacturing sector and investment have continued to improve on the back of robust exports, and domestic demand is on a mild imp

The military is expected to complete the administration of the first doses of COVID-19 vaccinations to service members aged 30 and older this week, officials said Friday. As of Thursday, 97.5 percent of around 114,000 troops, who are eligible for the inoculation program and agreed to take it, have received their first jabs of the AstraZeneca COVID-19 vaccine, according to the defense ministry. "We are working to wrap up this round of the vaccination program this week, though there could b

South Korea's capacity share in the advanced logic chip market is likely to decline further down the road, a report showed Friday, as the United States pushes to beef up its presence by attracting more global semiconductor firms to build factories on its turf. South Korea was expected to represent 20 percent of global wafer capacity of 10-nanometer (nm) and below nodes this year to rank second in the sector, but its share was projected to decline to 19 percent in 2025 and 17 percent in 2027 to

South Korea's daily new coronavirus cases stayed above 700 for the second day in a row on Friday as the country's vaccination campaign is again set to gather pace with more shipments of vaccines amid a tight supply. The country reported 747 more COVID-19 cases, including 729 local infections, raising the total caseload to 130,380, the Korea Disease Control and Prevention Agency (KDCA) said. Daily infections continued to rise this week, jumping to 715 cases Thursday from 635 Wednesday, 511 Tues

China exported around 587 tons of refined oil to North Korea in March, according to data that the country provided to a UN sanctions committee for the first time in six months. According to the latest update on the UN Security Council webpage on its sanctions committee on North Korea, Beijing supplied Pyongyang with 4,893 barrels, equivalent to 587.4 tons, in March. Since its last report in September last year, China had skipped disclosing its monthly oil exports. The March figure represents

President Moon Jae-in appointed Kim Boo-kyum as new prime minister and two others to lead the science and land ministries Friday. They were picked in last month's Cabinet shake-up coming on the heels of the ruling party's rout in major by-elections. The president conferred the certificates of appointment on Prime Minister Kim, Science Minister Lim Hye-sook and Land Minister Noh Hyeong-ouk as well as two other minister nominees -- Commerce Minister Moon Sung-wook and Labor Minister An Kyung-duk

Samsung Electronics Co. said Friday it has expanded support for blockchain users trading virtual assets on its Galaxy smartphones amid rising interest in cryptocurrencies. The South Korean tech said its latest update will allow users to easily manage their transactions by importing their virtual assets stored on select cold hardware wallets to the Samsung Blockchain Wallet available on most Galaxy smartphones. "Support for hardware wallets provides Galaxy blockchain with a consistent user

Director Lee Joon-ik of the historical drama "Book of Fish" and comedian Yoo Jae-suk have won the grand prize in the film and TV categories, respectively, at this year's Baeksang Arts Awards. Lee, known as a master of period films in South Korea for his previous hits like "King and the Clown" (2005) and "The Throne" (2015), took the top prize for films at the prestigious entertainment awards show held at KINTEX exhibition hall on Thursday in Goyang, just northwest

South Korean stocks opened higher Friday after the US index rebounded from a three-day plunge that stemmed from concerns about early post-pandemic inflation. The benchmark Korea Composite Stock Price Index (Kospi) rose 21 points, or 0.67 percent, to reach 3,143.11 points in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite advanced 0.72 percent, with the Dow Industrial Average and the S&P 500 up 1.29 percent and 1.22 percent, respectively. In Seoul, market bellwe

Prime Minister Kim Boo-kyum said Friday that he will work toward pursuing national unity in the face of the ongoing COVID-19 crisis, as he began his official term as the administration's third prime minister. "I will become a prime minister who thoroughly aims for national unity," Kim said while arriving at the government complex in Seoul on his first day as prime minister. "The current struggle can be overcome only if we work together," Kim added, referring to the ongoing

The South Korean government's dividend income from its stakes in public companies inched up 2.8 percent this year from the previous year as earnings of some state-run firms improved despite the pandemic, the finance ministry said Friday. Dividend payments by 22 state-run companies to the government amounted to 1.44 trillion won ($1 billion) this year, up 35.6 billion won from a year earlier, according to the Ministry of Economy and Finance. The gain in dividend income came as the Korea Electri

Hyundai Motor Group said Friday it will invest 8.1 trillion won ($7.4 billion) in the United States by 2025 to produce electric vehicles, improve production facilities and increase its presence in the smart mobility solutions area. Hyundai Motor Co., the flagship of the country's top automaking group, plans to produce EVs in its Alabama plant starting next year and its affiliate Kia Corp. also has a plan to roll out EVs in its Georgia plant, Hyundai Motor America said in a statement. Hyundai a

Hybe, the K-pop powerhouse behind BTS, Seventeen and Enhypen, has opened what it calls a "music museum" for its artists and fans at its new headquarters in central Seoul. The 4,700-square meter venue spread across two basement floors at Hybe Yongsan features giant screens that show a rotating selection of videos of its artists as well souvenirs from music production and miscellaneous objects that helped create the K-pop powerhouse. A preview of Hybe Insight on Wednesday began with an

Foreign investors turned to net buyers of South Korean stocks last month, ending their four-month selling spree, data showed Friday. Foreigners bought a net 672 billion won ($594 million) worth of local stocks in April, according to the data from the Financial Supervisory Service (FSS). Investors from Saudi Arabia purchased a net 56.8 billion won of stocks last month, while investors from the Cayman Islands sold a net 58.2 billion won of stocks, according to the FSS. As of end-April, local st