South Korea's consumer prices of poultry goods continued to gather ground as the country destroyed more birds in a preventive measure against the highly pathogenic bird flu, data showed Sunday, with the caseload reaching 87. The average price of eggs shot up 43.8 percent over the past week from the previous year, according to the data compiled by the Ministry of Agriculture, Food and Rural Affairs. Those of chicken and duck meat also increased 16.6 percent and 26.2 percent, respectively. South

South Korea's major listed firms' cash dividends shot up 60 percent in 2020 from a year earlier, led mostly by top market cap Samsung Electronics, data showed Sunday. The combined amount of dividends handed out by 124 listed firms surveyed in 2020 reached 30.2 trillion won ($26.8 billion), rising sharply from 19 trillion won disbursed a year earlier, according to the data compiled by market research firm FnGuide. Net profit of the companies, meanwhile, shot up 19.6 percent on-year in 2020 to r

North Korea is scheduled to hold a plenary meeting of its party this week to finalize plans for "strategic tasks" for this year, state media said Sunday. The second plenary meeting of the 8th Central Committee of the Workers' Party of Korea will be held "within the first 10 days of February to examine and decide the 2021 working plans of all fields to thoroughly carry out the strategic tasks" set forth during the eighth party congress, the official Korean Central News Agency

South Korea's exports of cosmetics shot up 16 percent in 2020 from a year earlier, data showed Sunday, on the back of the growing demand from the United States and Asian countries. Outbound shipments of cosmetics reached $7.57 billion last year, according to the data compiled by the Korea Customs Service and the Korea Cosmetic Association. The country's exports of cosmetics had been maintaining two-digit annual growth since 2012, until they temporarily slowed in 2019 by rising 4.2 percent. Ex

The memorial museum dedicated to commemorating the 2018 PyeongChang Winter Olympic Games opened its doors on Sunday, about three years after the opening ceremony of the quadrennial sporting event. The three-story museum was built at the site of the main Olympic Stadium, where opening and closing ceremonies of the Games were staged, in PyeongChang, a resort town located 180 kilometers east of Seoul in Gangwon Province. It houses some 800 items, including a replica of the Olympic torch, commemor

South Korean home appliance makers are releasing products that highlight pet care features, industry insiders said Saturday, as they target the growing number of consumers who live with companion animals. LG Electronics Inc. earlier this week introduced a washer and a dryer that come with steam functions that remove allergens. Citing results from the Japanese institution Environmental Allergens INFO & CARE, LG said using pet care cycles on their new clothing care appliances will kill dog

South Korean stocks are likely to move in a tight range next week on eased market volatility as individuals and foreigners -- the driving forces behind the key stock index's stellar gains last month -- are expected to pull the key stock index in the opposite directions, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 3,126.63 points Friday, up 4.85 percent from a week ago. The KOSPI has undergone a major adjustment since last week due to rapid valuatio

South Korea's daily coronavirus cases stayed below 400 for the second consecutive day Saturday, while the government decided to relax a business curfew starting next week in most cities outside the greater Seoul area. The country added 393 more COVID-19 cases in the past 24 hours, including 366 local infections, raising the cumulative caseload to 80,524, the Korea Disease Control and Prevention Agency (KDCA) said. Saturday's figure is higher than the 370 reported the previous day but lower tha

WASHINGTON -- The United States is committed to quickly reaching a defense cost-sharing agreement with South Korea that will be acceptable to both and help strengthen their alliance, an official from the US Department of State said Friday. The remarks came after Seoul officials said the sides agreed to seek an early conclusion of talks on Seoul's share of the cost in maintaining 28,500 US troops on the Korean Peninsula in a meeting held Friday (Seoul time). "We decline to comment on

The government said Saturday it will allow businesses outside the greater Seoul area to operate until 10 p.m. starting next week, relaxing the distancing rules amid growing discontent over the prolonged virus curbs. The revised measure will permit businesses like restaurants and fitness clubs to extend their operating hours by one hour under Level 2 distancing currently imposed on the provincial regions, Prime Minister Chung Sye-kyun said in a government response meeting. "After careful d

SK Chemicals on Friday reported its 2020 net profit of 258.3 billion won ($229.9 million), up 5,043.7 percent from a year earlier. The company said in a regulatory filing that operating income for the year rose 18.5 percent on-year to 95.2 billion won. Annual revenue decreased 15.7 percent to 1.2 trillion won. (Yonhap)

Eight members of the US Space Force are currently serving at an American air base in South Korea, US military officers have said. CM Sgt. Philip Hudson, 7th Air Force command chief, made the revelation during a webinar held on Tuesday, saying "now we have eight guardians on the peninsula." Earlier, the US military said an enlistment ceremony was held at the Kunsan Air Base in the western city of Gunsan on Monday to mark the transition of three airmen from the 8th Communications Squad

NCSoft Corp., a major South Korean online and mobile game developer, said Friday its net profit soared 63.3 percent in 2020 from a year earlier thanks to the continued popularity of its major mobile titles. Net profit stood at 586.6 billion won ($522 million) last year, compared with 359.3 billion won a year earlier, NCSoft said in a regulatory filing. Operating profit came to 824.8 billion won for the year, compared with 479 billion won the previous year. Annual sales rose 42 percent on-year

Lotte Chemical Corp., a major South Korean petrochemical company, said Friday its fourth-quarter net profit more doubled from a year earlier on strong demand for its petrochemical products. The petrochemical unit of Lotte Group posted a net profit of 97.2 billion won ($86.5 million) in the October-December period, up 104.1 percent from a year earlier, the company said in a regulatory filing. Its operating profit jumped 49.4 percent on-year to 212.5 billion won, while sales fell 12.5 percent to

The United Nations has granted a sanctions waiver for a South Korean organization working on a project to provide safe drinking water to North Korea, a UN website showed Friday. This marks this year's first UN sanctions exemption to North Korea. The organization was given an exemption for nine months until Oct. 22, 2021, according to the website. The website did not identify the name of the organization, nor did it specify the size of the assistance and other details. In November, a UN Securi

The ruling Democratic Party (DP) on Friday pressed Finance Minister Hong Nam-ki to make a "bold decision" in providing a new round of COVID-19 relief payments amid an ongoing policy disagreement between the party and the ministry. "(The government) should further intensify its fiscal role so that it safeguards the lives of the people and the economy with a desperate attitude that befits a crisis situation," DP floor leader Rep. Kim Tae-nyeon said in a party leadership meetin

Hankook Tire & Technology Co., the world's seventh-biggest tiremaker by sales, said Friday its net profit fell 12 percent in 2020 from a year earlier on foreign exchange losses. For the whole of 2020, net profit fell to 379.2 billion won ($337 million) from 429.6 billion won a year earlier, the company said in a statement. "The won's weakness against the dollar drove up the company's dollar-denominated debts and weighed on the annual bottom line," a company spokesman said over th

South Korea's power plant builder Doosan Heavy Industries & Construction Co. said Friday that its board of directors has decided to sell the company's 35 percent stake in Doosan Infracore Co. for 850 billion won ($757 million) to global shipbuilding holding company Hyundai Heavy Industries Holdings Co. (HHIH). Cash-strapped Doosan Heavy disposed of 76 million shares of its construction equipment unit Doosan Infracore to improve business efficiency and management structure, the company said

South Korean stocks rebounded Friday in line with rallies in global stock markets, as signs of recovery from the pandemic boosted foreign buying of local stocks. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 33.08 points, or 1.07 percent, to close at 3,120.63 points. Trading volume was moderate at about 1.2 billion shares worth some 19.4 trillion won ($17.3 billion), with gainers outnumbering losers 504 to 339. Foreigners bought a net

A group of Korean students at Harvard Law School has decried a professor's recent controversial claims that victims of Japan's wartime sexual slavery were willing prostitutes as "factually incorrect and misleading." On Thursday, the Korean Association of Harvard Law School issued a statement criticizing a recent article by J. Mark Ramseyer, Mitsubishi professor of Japanese Legal Studies at the Harvard school, which is titled "Contracting for sex in the Pacific War." The art