Samsung Electronics Co. on Tuesday launched a new robot vacuum cleaner with upgraded artificial intelligence (AI) solutions here as the tech giant eyes to boost home appliance sales amid the pandemic-driven stay-at-home trend. The BESPOKE JetBot AI vacuum cleaner comes in five colors at a price of 1.59 million won ($1,430). The product, which was first unveiled at the all-digital Consumer Electronics Show (CES) 2021, is equipped with Intel's Movidius AI solution and utilizes LiDAR and 3-D sens

Public organizations will have to choose only eco-friendly cars when purchasing new automobiles, in line with the country's green energy drive, the industry ministry said Tuesday. "In order to speed up the transition, it is necessary to create new demands," the Ministry of Trade, Industry and Energy said in a statement. The eco-friendly cars refer to electric vehicles (EVs) and hydrogen fuel-cell cars, as well as hybrid models. South Korea launched a rule in 2016 that required publi

Retail sales in South Korea jumped 18.5 percent in March from a year earlier on the back of seasonal promotions by offline stores, with local consumers also turning to "revenge shopping" amid the prolonged virus pandemic. The combined sales of 26 major offline and online retailers reached 13.1 trillion won ($11.7 billion) last month, up from 11.1 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. Sales from offline stores jumped

South Korea said Tuesday it will strengthen support to exporters facing a hike in freight costs by increasing marine shipping services amid the recovery of global trade from the new coronavirus pandemic. Under the plan, South Korea plans to add two new scheduled services for the route to the Americas per month to cope with a shortage in shipping, according to the Ministry of Trade, Industry and Energy. The government plans to add more ships for routes to Europe and Southeast Asia depending on

South Korea's demand for natural gas is expected to rise 15 percent through 2034, data showed Tuesday, on the back of higher demand from hydrogen fuel cell cars and liquefied natural gas (LNG) bunkering ships. The country's annual demand for natural gas is expected to reach 47.9 million tons in 2034, compared with 41.7 million tons estimated for this year, according to the Ministry of Trade, Industry and Energy. Of the volume, the demand from the industrial segment is especially anticipated to

Major South Korean credit card issuer Samsung Card Co. said Tuesday its net profit soared nearly 23 percent in the first quarter of the year on a rebound in consumer confidence. Net profit stood at 138.4 billion won ($124.7 million) in the January-March period, up 23.4 percent from a year earlier, the company said in a regulatory filing. Operating profit jumped 23.1 percent on-year to 185.3 billion won, with sales rising 0.6 percent to 918.1 billion won. Samsung Card attributed its stellar fi

A state-run defense development agency said Tuesday it has completed the development of a new high power and high sensitivity radar technology capable of detecting stealth fighter jets. The new technology will be used for wide area surveillance to monitor military aircraft operated by neighboring countries near the Korean Peninsula, according to the Agency for Defense Development. "Securing a homegrown radar technology to detect warplanes with a low radar cross section was essential as th

South Korean refiners' exports fell to the lowest level in 10 years in the first quarter of the year as global oil demand remained low amid the prolonged COVID-19 pandemic, industry data showed Tuesday. Oil and petrochemical products shipped by SK Innovation Co., GS-Caltex Co., S-Oil Corp., Hyundai Oilbank Co. and others reached 90.94 million barrels in the first quarter of the year, down 27.4 percent from a year earlier, according to the data compiled by the Korea Petroleum Association. The t

South Korean left-hander Yang Hyeon-jong of the Texas Rangers has made his Major League Baseball debut on the day he joined the team's big league roster. Yang took the mound as a relief pitcher for the first time in a major league game against the Los Angeles Angels at Globe Life Field in Arlington, Texas, on Monday (US time), relieving starter Jordan Lyles, who allowed seven earned runs in 2 2/3 innings. The southpaw made 66 pitches in 4 1/3 innings, giving up two runs on five hits, with one

Foreign Minister Chung Eui-yong offered condolences to the families of the crew members killed in last week's deadly sinking of an Indonesian submarine off the island of Bali, the foreign ministry said Tuesday. The Indonesian submarine KRI Nanggala 402 with 53 people on aboard went missing last week while conducting a training exercise.Its military on Sunday declared all 53 crew members dead after it found its wreckage broken into three pieces at the bottom of the sea. "Foreign Minister

South Korean President Moon Jae-in sent a condolence letter to his Indonesian counterpart, Joko Widodo, over the deadly sinking of the country's naval submarine, Cheong Wa Dae said Tuesday. Moon expressed regret about the deaths of 53 crew members and delivered a message of condolences and sympathy to the Indonesian people, according to presidential spokesperson Park Kyung-mee. He hoped that the Indonesian people will overcome grief from the tragic accident at an early date, she added. Indone

South Korean stocks opened lower Tuesday as investors took to the sidelines ahead of a meeting of the US Federal Open Market Committee (FOMC). The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.75 points, or 0.15 percent, to 3,212.78 points in the first 15 minutes of trading. Stocks got off to a lackluster start on increased valuation pressure, as investors wondered whether to sell stocks for profit after the KOSPI's three-day gains. Concerns about early post-pandemic inflation re

K-pop sensation BTS is ready to come back next month with the cheerful summer number "Butter," its agency said Tuesday. The "fun and upbeat summer song," which will be the seven-piece act's second English single following "Dynamite" released last year, will drop globally in a digital version at 1 p.m. on May 21, according to Big Hit Music. The physical version of the new single will be available this summer, the company added, without elaborating on a release date

South Korea's major business lobby groups on Tuesday said they have submitted a petition for the pardon of Lee Jae-yong, the imprisoned de facto leader of Samsung Group, to the presidential office for the sake of the national economy amid a global semiconductor shortage. The five major lobby groups -- the Korea Chamber of Commerce and Industry, the Korea Enterprises Federation, the Korea Federation of SMEs, the Korea International Trade Association and the Federation of Middle Market Enterprise

Sales of derivatives-linked securities in South Korea dropped 30.3 percent on year in 2020, partly due lower demand following the misselling of derivatives-linked funds, data showed Tuesday. The combined value of equity-linked securities (ELS) and derivatives-linked securities (DLS) issued last year came to 91.3 trillion won ($82 billion), down 39.7 trillion won from a year ago, according to the data from the Financial Supervisory Service. The products are structured to track the performance o

The value of stocks traded on South Korea's over-the-counter (OTC) market has surpassed the 20 trillion-won mark ($18 billion) for the first time in over six years on a recent market rally, data showed Tuesday. The capitalization of the K-OTC totaled 20.07 trillion won as of Monday, up some 215 billion won from the previous session, according to the data from the Korea Financial Investment Association (KOFIA). It marks the first time since Nov. 13, 2014, that the K-OTC's market value has excee

A British aircraft carrier strike group will make a port call at the southeastern city of Busan later this year, Seoul's defense ministry said Tuesday, as the European country seeks to expand its presence in the Indo-Pacific region. South Korea has accepted Britain's request for its HMS Queen Elizabeth aircraft carrier to make a port call at Busan in the second half to boost "bilateral defense cooperation and friendly exchanges," the ministry said. Accompanied by multiple warships an

South Korea's economy expanded at a faster-than-expected pace in the first quarter, buoyed by a modest recovery of exports and fiscal policy support, amid signs that the economy is inching closer to pre-pandemic levels, the Bank of Korea (BOK) said Tuesday. Gross domestic product expanded 1.8 percent in the three months ended March 31 from a year ago, the BOK said. On a quarterly basis, Asia's fourth-largest economy expanded 1.6 percent, accelerating from a 1.2 percent expansion in the final qu

Belgian Ambassador to Seoul Peter Lescouhier on Monday notified government officials here that his wife will soon turn up to face a police investigation over an assault incident. Police have been looking into allegations that Lescouhier's wife slapped an apparel store employee in the face and another employee in the back of her head early this month. The employees had asked the wife if she paid for the clothes she was wearing at the time because the shop was selling the same apparel. The ambas

South Korea on Monday welcomed the joint statement by Southeast Asian leaders that called for an end to violence in Myanmar and pursuit of a peaceful solution. Nine of the 10-member Association of Southeast Asian Nations issued the statement under the name of its secretary general after a summit in Indonesia, demanding its member Myanmar immediately end civilian killings that began after its military seized power in a coup in early February. The statement came as Myanmar's military leader Seni