Rice production costs in South Korea rose 6.5 percent last year as rice output fell due to a record-long rainy season and typhoons, data showed Tuesday. Farmers spent 31,082 won ($27) to produce 20 kilograms of rice last year, compared with 29,172 won the previous year, according to the data compiled by Statistics Korea. The rise in costs came as a long rainy season and typhoons reduced the number of sunny days last year, reducing rice output to a 52-year low, according to the statistics agenc

South Korean banks' lending rates inched up in February amid a slight decline in deposit rates, central bank data showed Tuesday. The average interest rate charged on new bank loans came to 2.74 percent in February, up 0.02 percentage point from the previous month, according to preliminary data from the Bank of Korea (BOK). The BOK cut the key interest rate to a record low of 0.5 percent in May last year after delivering an emergency rate cut of half a percentage point in March to cushion the

Texas Rangers' South Korean pitcher Yang Hyeon-jong may have blown his chance at making the big league roster at the start of the new season, following a wild outing in his final spring training game. Yang issued three walks and gave up two runs in 2/3 of an inning in relief against the Milwaukee Brewers at Globe Life Field in Arlington, Texas, on Monday (local time). Yang, who signed a minor league deal after 14 years in South Korea and received an invitation to spring training, has been tryi

SK E&S Co., the natural gas provider under SK Group, said it will invest 1.6 trillion won ($1.4 billion won) over the next five years to develop an Australian gas field for the stable supply of liquefied natural gas (LNG). SK E&S said it approved the investment plan to kick-start the $3.7 billion development of Barossa gas field off Australia's northern coast. The Korean company, which holds a 37.5 percent stake in the project, said it will invest 762.8 billion won in its Australian su

President Moon Jae-in instructed the government Tuesday to accelerate the emergency relief money payment that has just begun and the COVID-19 vaccination campaign, describing the two elements as crucial in efforts for "inclusive" economic recovery. Earlier this week, his left-leaning administration started handing out the fourth batch of direct financial support for the vulnerable in a tailored program based on a 14.9 trillion-won ($13.1 billion) extra budget. Millions of small mercha

LG Electronics Inc. said Tuesday it has joined hands with local partners to develop renewable energy technology and achieve carbon neutrality. Under the partnership with Korea Water Resources Corporation and POSCO, the country's largest steelmaker, LG will collaborate in building a renewable energy cluster here. The three will work together to develop a seawater heating and cooling system dedicated to the environment of the Yellow Sea, the country's western sea, and building integrated photovo

The top court has toughened the sentencing guidelines for fatal industrial accidents that result from violations of safety measures amid mounting criticism that the punishment for those who caused the accidents is too lenient. The Sentencing Commission of the Supreme Court confirmed Monday that the basic sentence range is between one year and 2 1/2 years for business owners or contractors accused of breaching the Occupational Safety and Health Act, and failing to prevent an industrial disaster

Harmful yellow dust originating mostly from northern China continued to blanket South Korea for a second day Tuesday, prompting authorities to take emergency emissions reduction measures against spikes in fine dust levels. Hit by the powerful dust storm from the island deserts in northern China and Mongolia, South Korea issued yellow dust warnings for almost all parts of the country for the first time in a decade on Monday. According to weather authorities, the density of fine dust particles

Two soldiers and an Army officer tested positive for the new coronavirus, the defense ministry said Tuesday. One soldier stationed in the city of Yangju, north of Seoul, and the other one in the border city of Paju were confirmed to have been infected after showing symptoms during a vacation, according to the ministry. The officer also stationed in Paju has been in isolation following the infection of one of his family members, and also tested positive, it added. The latest cases raised the

South Korea said Tuesday it plans to maintain an expansionary fiscal policy next year to underpin an economic recovery from the pandemic, but it will also seek to enhance fiscal soundness amid mounting national debt. Under the 2022 budget guidelines, approved by the Cabinet, the country aims to prop up the economy and invest in key policy initiatives for the post-pandemic era, while improving fiscal efficiency, according to the Ministry of Economy and Finance. The South Korean economy contract

Tax exemptions and incentives are expected to rise almost 3 trillion won ($2.6 billion) on-year this year as the country seeks to help vulnerable people cope with the fallout of the pandemic. The value of the country's subsidies offered via tax exemptions and credit is estimated at 56.8 trillion won this year, up from last year's 53.9 trillion won, according to the Ministry of Economy and Finance. The percentage of tax subsidies against total tax revenue is likely to reach 15.9 percent this ye

개그맨 박수홍이 친형으로부터 30년간 출연료를 떼였다는 의혹이 제기되자 이를 인정하며 친형 측에 대화에 나설 것을 촉구했다. 박수홍은 29일 자신의 반려묘인 '다홍'의 인스타그램 계정에 "전 소속사와의 문제 이전에 가족의 문제이기에 최대한 조용히 상황을 매듭지으려 했으나 부득이 이 같은 상황이 벌어지게 돼 글을 남기게 됐다"고 입을 열었다.그는 "전 소속사와의 관계에서 금전적 피해를 본 건 사실"이라면서 "그리고 그 소속사는 형과 형수의 명의로 운영돼온 것 또한 사실"이라고 밝혔다. 박수홍은 "그렇게 30년의 세월을 보낸 어느 날, 내 노력으로 일궈온 많은 것들이 내 것이 아닌 것을 알게 됐다"면서 "이에 큰 충격을 받고 바로 잡기 위해 대화를 시도했지만, 현재까지 오랜 기간 답변을 받지 못한 상황"이라고 호소했다. 그는 그동안의 일에 대한 객관적 자료를 확보해 형과 형수에게 대화를 요청한

South Korean stocks opened higher Tuesday, tracking the Dow's overnight gains that stemmed from expectations of a quick global economic recovery from the pandemic. The benchmark Korea Composite Stock Price Index rose 14.74 points, or 0.49 percent, to 3,050.78 points in the first 15 minutes of trading. Investor sentiment was boosted after the Dow Jones Industrial Average set another record overnight over the progress in the US vaccine rollout. Advances by auto and financial shares led the KOSP

US President Joe Biden does not intend to meet with North Korean leader Kim Jong-un as his approach to Pyongyang will be "quite different," the White House said Monday. During a press conference on Thursday, Biden said that the United States would respond accordingly if the North escalates tensions in the wake of its recent missile tests and that he is also prepared for some form of diplomacy. "I think his approach would be quite different, and that is not his intention," W

South Korean President Moon Jae-in, World Health Organization Director-General Tedros Adhanom Ghebreyesus and other world leaders called for a new international treaty to galvanize concerted efforts to prepare against future pandemics. In an op-ed piece provided exclusively to Yonhap News Agency among South Korean media, the 25 leaders also said that the ongoing COVID-19 pandemic underscored the need for a "more robust international health architecture" that will protect future genera

South Korea's two largest TV makers -- Samsung Electronics Co. and LG Electronics Inc. -- said Tuesday their premium TVs have obtained a certification for advanced Wi-Fi technology that enables them to deliver faster and more stable connectivity. Samsung said two Neo QLED TV models -- QN900A and QN800A -- became the industry's first TVs to get Wi-Fi 6E (6th Generation Extended) certification from the Wi-Fi Alliance (WFA), the global organization with more than 850 members driving Wi-Fi adoption

The sister of North Korean leader Kim Jong-un on Tuesday criticized South Korean President Moon Jae-in for his speech on the North's recent missile launches, mocking him as a "parrot" that repeats the United States' "gangster-like logic." Kim Yo-jong made the criticism in a statement after Moon said on Friday in a speech that any action that could undercut the mood for dialogue is "undesirable," hours after Pyongyang confirmed its test-firing of short-range ballist

Pablo Picasso's painting depicting the 1950-53 Korean War will be displayed for the first time in South Korea, an exhibition agency said Monday. The "Massacre in Korea", one of a series of anti-war paintings by the legendary Spanish artist, will be exhibited at the Hangaram Arts Center Museum inside the Seoul Arts Center in southern Seoul, from May 1 to August 29, according to the organizer, Vichae Art Museum. The painting depicts a group of naked women and children threatened at a

South Korea's Hyundai Motor Co. said Monday it is considering suspending production at a domestic plant next month due to a global semiconductor chip shortage. Hyundai Motor mulls halting the operation of the No. 1 plant in Ulsan, 414 kilometers southeast of Seoul, which produces the Kona subcompact SUV and the IONIQ 5 all-electric model due to parts shortage, a company official said over the phone. The possible suspension comes amid a lack of semiconductor parts used in the Kona's front ve

An extraordinarily strong yellow dust storm originating from the inland deserts in northern China and Mongolia blanketed all of South Korea on Monday, prompting authorities to issue a yellow dust warning for Seoul and almost all parts of the country for the first time in a decade. The density of fine dust particles smaller than 10 micrometers in diameter, known as PM 10, soared to 1,174 micrograms per cubic meter in Daegu on Monday morning, the worst level since Nov. 12, 2010, when the corres