DAEJEON -- A court rejected the issuance of an arrest warrant Tuesday for a former industry and energy minister in connection with the controversial closure of an aging nuclear reactor. The Daejeon District Court denied the warrant sought by prosecutors against Paik Un-gyu on charges of abuse of power and obstruction of business, citing lack of reason and need to arrest him. "The prosecutors' arguments are not sufficient vindication of Paik's alleged criminality," the court said. &qu

LG Electronics Inc. said Tuesday some of its electric vehicle (EV) motor production lines will be in operation even during the Lunar New Year's holiday as the tech giant eyes to expand its presence in the future mobility sector. LG recommends its local production sites allow workers to go on vacation on Wednesday for the Lunar New Year's Day, which falls on Friday, but its EV motor factory in Incheon, 40 kilometers west of Seoul, will run during the holiday period to meet growing demand. The S

The United States continues to be committed to the peace and security of its allies in the Indo-Pacific region, a Pentagon official said Monday. The remarks come amid an ongoing review of the US defense posture that the Pentagon official said will determine where more US troops are needed or less. "We will continue to maintain our security commitments to our allies and partners there," Press Secretary John Kirby said when asked if the ongoing defense posture review would lead to an i

Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, said Tuesday it shifted to the black in 2020 on the back of robust growth of its e-commerce services based on its messenger platform amid the pandemic. Net profit reached 167.1 billion won ($149.2 million) last year on a consolidated basis, swinging from a loss of 341.9 billion won a year earlier, the company said in a regulatory filing. Sales jumped by 35.4 percent on-year to reach an all-time high of 4.15 trillion won

North Korean leader Kim Jong-un rapped economic agencies for "passive and self-protecting tendencies" as he held a Workers' Party meeting to finalize this year's plans to carry out policy goals set forth at last month's rare party congress, state media said Tuesday. The North unveiled a new five-year economic development plan at the eighth congress of the party last month, with a focus on self-reliance in the face of the fallout of the coronavirus pandemic and global sanctions on its

AstraZeneca will start delivering the first batch of its COVID-19 vaccine to South Korea starting from Feb. 24, South Korean health authorities said Monday.  The virus response control tower said in a statement that AstraZeneca's vaccine will be supplied in phases from Feb. 24 over the following several days, without elaborating on the amount of doses and other details. The announcement came after Prime Minister Chung Sye-kyun said in a parliamentary meeting that he expects the first phas

Major League Baseball (MLB) has checked on the availability of South Korean free agent pitcher Yang Hyeon-jong, league officials here said Monday, a move indicating newfound interest in the left-hander. The Korea Baseball Organization (KBO) said MLB tendered a status check on Yang last Friday and that it informed its US counterpart that Yang is a free agent and may sign with any big league club. Under an agreement between MLB and the KBO, a major league team interested in a South Korean player

Korean students at Harvard University have strongly criticized a professor over his controversial claim that Japan's wartime sexual slavery was actually voluntary prostitution, demanding its immediate withdrawal and his official apology to victims. Harvard Korean Society made the demand in a statement on its website after Harvard Law School Japanese legal studies professor J. Mark Ramseyer caused controversy with his recently published paper titled "Contracting for Sex in the Pacific War.&

The ruling Democratic Party (DP) will seek the passage of a parliamentary resolution condemning the recent military coup in Myanmar, the party's floor leader said Monday. DP floor leader Rep. Kim Tae-nyeon also expressed deep regret and concerns over the coup d'etat that took place a week earlier, while disclosing the plan for the parliamentary resolution during a top party council meeting. "The coup by the Myanmarese military is an act of serious provocation that fundamentally threatens

Foreign Minister Kang Kyung-wha left office Monday after nearly four years at the helm of South Korea's diplomacy grappling with a host of daunting challenges ranging from North Korea's nuclear quandary to historical spats with Japan and an escalating Sino-USrivalry. Having led the ministry since June 2017, Kang described her stint as the nation's first female foreign minister as "most honorable" in her work life and voiced hope that her successor, Chung Eui-yong, will reinvigorate th

The founder of South Korea's top mobile messenger operator Kakao Corp. said Monday that he will donate more than half of his wealth -- currently estimated to be more than 10 trillion won ($8.9 billion). "I have pledged to donate more than half of my assets to solve social issues throughout my life," Kim Beom-su said in a message sent to all of Kakao's employees. His assets are estimated to be over 10 trillion won, including 12.5 million shares of Kakao, valued at over 5.7 trillion wo

South Korea's benchmark stock index slumped below the 3,100-point mark Monday despite spreading optimism for an economic rebound, largely on losses by Hyundai Motor and its affiliate Kia Corp. as the two automakers said they are not in talks with Apple Inc. over an electric vehicle project. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 29.39 points, or 0.94 percent, to close at 3,091.24 points. Trading volume was high at about 1.3 billi

South Korea's finance minister instructed his officials Monday to spare no effort to thoroughly implement the government's latest massive housing supply plan in a bid to stabilize rising home prices. The government said last week it will ease construction regulations and support redevelopment projects in urban areas to increase the number of new homes by up to 836,000 nationwide in the next four years. "Now the key to stabilizing the housing market is to thoroughly implement the latest ho

President Moon Jae-in said Monday his administration will push for "bold and sufficient" ways to tackle the economic fallout of the COVID-19 pandemic. "The government will do its best to come up with sufficient measures in a bold manner, without losing an opportunity, to overcome the crisis within a range that finance can afford," he said at the start of a weekly meeting with senior Cheong Wa Dae aides. His remarks came amid a brewing controversy over the proposed fourth ba

Apparel and clothing items produced in Vietnam with South Korea-made fabrics will be allowed to enjoy lower tariffs in the European Union, the trade ministry said Monday. Previously, clothes needed to be made with locally produced fabrics in order to enjoy the benefits of the Vietnam-EU free trade agreement, according to the Ministry of Trade, Industry and Energy. "With South Korea being the second-largest supplier of fabric in Vietnam, the latest policy will lead to stronger demand for S

Subscriptions to state employment insurance increased by the smallest number in 17 years in January amid the third wave of the coronavirus pandemic, the labor ministry said Monday. The number of subscribers reached 13.84 million in January, up 151,000, or 1.1 percent, from the same month last year, according to the ministry's monthly report on the labor market. That figure is the smallest since February 2004, when the increase was 138,000. It is also less than the 155,000 recorded in May 2020

LG Display Co., a major display panel maker in South Korea, will make an additional $750 million investment in its plant in Vietnam, news reports showed Monday, as the company eyes expanding OLED panel productions. The city of Hai Phong approved LG Display's latest investment plan for its plant in northern Vietnam, according to the Vietnam News Agency. The expenditure will bring LG Display's total investment for its project in the Vietnamese port city to $3.25 billion, it added. LG Display is

CHANGWON -- Three Filipinos have been given prison terms for trafficking illegal drugs into South Korea, a local court said Monday. The Changwon District Court, about 400 kilometers southeast of Seoul, recently sentenced the three Philippine nationals to three to five years in prison for violating the Narcotics Control Act. The court also handed down prison terms ranging from one to 2 1/2 years, suspended for two to four years, to three other Filipinos on the same charge. The six were indicte

Korea Shipbuilding & Offshore Engineering Co. said Monday it has won a 152 billion-won ($136 million) order from Oceanian companies. Under the deal, two 40,000-cubic meter liquefied petroleum gas (LPG) carriers will be built by Hyundai Mipo Dockyard Co. and one 40,000-ton petrochemical carrier will be built by Hyundai-Vietnam Shipbuilding Co., Korea Shipbuilding said. Korea Shipbuilding did not reveal the name of the customer. The deal for the petrochemical carrier has an option to build

Top construction equipment maker Doosan Infracore Co. said Monday that it has won orders of 221 units of construction equipment from emerging markets such as Asia, the Middle East, Africa and Central and South America. Doosan Infracore sold 108 units of excavators and wheel loaders in Hong Kong, Thailand and Vietnam this year, the company said. A total of 27 units of construction equipment were sold in Oman, while 70 units were provided to companies in Morocco and Egypt. In Colombia, Doosan I