LG Electronics Inc. on Wednesday expected its best-ever quarterly performance in the first quarter as its home appliance and TV sales apparently basked in pent-up demand amid the pandemic. In its earnings guidance, the South Korean tech firm projected its operating profit at 1.51 trillion won ($1.3 billion) for the first three months of 2021, up 39.2 percent from a year earlier. Its first-quarter operating income estimate beat the market consensus of 1.27 trillion won in the survey on seven b

A Marine based in the southeastern port city of Pohang tested positive for the new coronavirus, the defense ministry said Wednesday. He was confirmed to have been infected after undertaking a COVID-19 test to exit quarantine, as he came into close contact with a civilian who earlier tested positive, according to the ministry. The latest case raised the total number of infections reported among the military population to 668. The authorities are carrying out virus tests on members of the Defen

South Korea's tax revenue rose 8.7 trillion won ($7.8 billion) in February from a year earlier due largely to an increase in the collection of income taxes, the finance ministry said Wednesday. The country collected 19 trillion won in taxes in February, compared with 10.3 trillion won the previous year, according to the Ministry of Economy and Finance. The tally came as capital gains tax income rose amid increased housing transactions and the payment of deferred taxes. In February, the govern

유가증권시장 상장 후 한동안 주가 흐름이 부진했던 방탄소년단(BTS) 소속사 빅히트(하이브)가 주가 반등에 속도를 내고 있다. 7일 한국거래소에 따르면 지난 6일 빅히트는 전 거래일보다 4.44% 오른 25만9천원에 마감하며 사흘 연속 상승했다. 종가 기준으로는 작년 10월 15일(25만8천원) 상장 이후 최고가다. 상장 이후 종가 기준 최저가인 작년 10월 30일(14만2천원)과 비교하면 5개월여 만에 82.4% 오른 수준이다. 이에 따라 빅히트가 상장 당일 잠시 터치한 장중 최고가(35만1천원)로 다가설지에 투자자들은 주목하고 있다. 기업공개(IPO) 대어로 주목받은 빅히트는 지난해 공모주 열풍을 타고 기관 투자자 수요예측과 일반 청약에서 흥행해 상장 초기 주가 급등 기대를 키웠다. 그러나 상장 당일 장중 35만1천원을 찍은 주가는 몇 달간 힘없이 내리막길을 걸었다. 공모가 고평가 논란과 주요 주주의 대량 매도 등이 맞물린 결과였다. 주가가 반등하려면 빅히트가 코로나19

Foreign investors have been on a buying spree of South Korean stocks so far this month, picking up a net 2.2 trillion won ($1.97 billion) worth of local shares, reversing their selling trend earlier this year. Offshore investors have been net buyers of local shares for five straight sessions -- the first time this year -- from April 1 to 7, while retail investors have sold a net 1.2 trillion won over the cited period and institutions have offloaded a net 1 trillion won, according to financial i

South Korea reported the most new coronavirus cases since early January on Wednesday as sporadic cluster infections continued to pile up across the country, raising concerns that the country may again grapple with another wave of the pandemic. The country reported 668 more COVID-19 cases, including 653 local infections, raising the total caseload to 106,898, the Korea Disease Control and Prevention Agency (KDCA) said. It marked a sharp rise from 478 the previous day and the largest since 674 da

Hyundai Motor Co. said Wednesday it has suspended a domestic plant that produces the Ioniq 5 all-electric model due to a chip shortage. Hyundai said it will halt the operation of the No. 1 plant in Ulsan, 414 kilometers southeast of Seoul, which also produces the Kona subcompact SUV, due to lack of parts from April 7-14, a company spokesman said.  The weeklong suspension comes amid lack of semiconductor parts used in the Kona's front vehicle camera system and a problem in Hyundai Mobis

South Korean stocks opened higher Wednesday on investor optimism for a faster-than-expected global economic recovery, backed by the latest forecast from the International Monetary Fund (IMF). The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.75 points, or 0.28 percent, to 3,135.83 points in the first 15 minutes of trading. The firm start comes after the IMF raised its global economic growth forecast for this year to 6 percent from its earlier estimate of 5.5 percent. Market kingp

North Korea has moved a submersible missile test stand barge at a shipyard on its east coast, a US think tank said Wednesday, noting the move could be part of preparations for a submarine launched ballistic missile (SLBM) test or for maintenance. Citing satellite imagery collected Tuesday, Beyond Parallel, a project of the Center for Strategic and International Studies think tank, revealed the activity, warning the "implied threat" of SLBM testing would pose "significant challeng

South Korea's current account surplus widened in February as exports showed signs of a gradual recovery from the COVID-19 pandemic, the central bank said Wednesday. The current account surplus reached $8.03 billion last month, widening from a surplus of $7.06 billion the previous month, according to the Bank of Korea (BOK). The current account is the broadest measure of cross-border trade. Since the country logged a deficit of $3.33 billion in April last year, the largest in almost a decade,

South Korea's credit unions, or member-owned financial cooperatives, saw their combined net profit edge up 0.2 percent in 2020 from a year earlier due to higher sales of non-banking businesses, data showed Wednesday. The combined net profit of 2,225 credit unions, including the National Agricultural Cooperative Federation known as Nonghyup, stood at 2.2 trillion won ($1.95 billion) in 2020, up 4.5 billion won from 2019, according to the data by the Financial Supervisory Service (FSS). Nonghyup

Voters went to polls to cast ballots for new mayors in Seoul and Busan, the country's two biggest cities, on Wednesday in by-elections deemed a critical bellwether for next year's presidential contest. Voting began at 6 a.m. at 3,459 polling stations across the country and will last till 8 p.m. Besides the two mayoral seats, 19 other regional public posts are up for grabs, including the county governor for Uiryeong in South Gyeongsang Province and a ward office head in the southeastern In Seou

WASHINGTON -- North Korea's decision to skip the Summer Olympics appears to be in line with its strong measures against the COVID-19 pandemic, a spokesman for the US State Department said Tuesday. "We are aware of reports that North Korea has decided not to participate in the Summer Olympics, which would appear consistent, in fact, with the DPRK's stringent response to COVID-19," Ned Price said at a daily press briefing. DPRK stands for the Democratic People's Republic of Korea, the

The International Olympic Committee (IOC) said Tuesday it hasn't received an official word from North Korea regarding the latter's decision not to participate in this year's Tokyo Summer Games. "The IOC has not received any official application from the NOC of DPRK to be released from their obligation to take part in the Olympic Games according to the Olympic Charter," an IOC spokesperson said in a statement released to Yonhap News Agency. NOC is short for the National Olympic Commi

Rival parties were wrapping up their campaigns for local by-elections Tuesday dominated by corruption allegations and negative tactics rather than policy competition. Voters in 21 local entities will cast ballots Wednesday to pick the new mayors of Seoul and Busan and fill other regional administrative and legislative posts. The ruling Democratic Party (DP) and main opposition People Power Party (PPP) mounted fierce campaigns, as the elections are seen as a key barometer of voter sentiment ahe

Cheong Wa Dae announced Tuesday it will redouble efforts to communicate with the local business sector in a bid to resolve difficulties facing firms here and provide other necessary support. The move comes at President Moon Jae-in's instruction, which was issued during an internal meeting last week. Lee Ho-seung, Moon's chief of staff for policy, is scheduled to hold a series of meetings with leaders of major lobby groups here. The top Cheong Wa Dae secretary in charge of policy issues will v

Quarantine authorities on Tuesday asked the public to thoroughly comply with social distancing and other anti-coronavirus rules in the voting process for this week's mayoral by-elections in Seoul and Busan. By-election voting for the two mayoral seats and 19 other regional public posts is scheduled to begin at 6 a.m. and last till 8 p.m. on Wednesday at 3,459 polling stations across the country. The Central Disease Control Headquarters said in a media briefing that voters must always wear a ma

South Korea's Cabinet approved a recently concluded defense cost sharing deal with the United States on Tuesday, a foreign ministry official said, noting that the government will request parliamentary consent for it at an early date. Last month, the two countries concluded the deal, under which Seoul is to pay 1.183 trillion won ($1.05 billion) this year, up from 1.038 trillion won in 2019, for the upkeep of the 28,500-strong US Forces Korea (USFK). The government is expected to request the Na

A North Korean firm on Tuesday lost a lawsuit claiming millions of dollars for metal it supplied to South Korean companies in 2010, in a rare legal battle between businesses from the two Koreas. In a ruling against the North Korean National Economic Cooperation Federation, its member company and their South Korean deputy, the Seoul Central District Court said that four South Korean firms need not pay the plaintiffs about 5.3 billion won ($4.7 million) for the zinc they imported from North Korea

South Korean stocks rose for the fourth straight session Tuesday as investors pinned their hopes on a faster-than-expected global economic recovery, backed by strong US economic data. The Korean won rose against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) rose 6.25 points, or 0.2 percent, to close at 3,127.08 points. Trading volume was moderate at about 1.26 billion shares worth some 13.5 trillion won ($12.06 billion), with losers outnumbering g