Korean Air Lines Co., South Korea's biggest carrier, said Thursday it has raised 3.3 trillion won ($3 billion) in a share sale for its planned acquisition of smaller rival Asiana Airlines Inc. Korean Air issued 173.6 million shares at 19,100 won per share, which is lower than the closing price of 27,400 won Wednesday, the company said in a regulatory filing. The national flag carrier plans to list the shares on the Korea Exchange on March 24, it said.   Out of the rights issue pro

An opposition lawmaker claimed Thursday that 74 more employees of the state housing corporation are suspected of having purchased land for speculation, the latest in a series of allegations over a growing corruption scandal. Rep. Kwak Sang-do of the main opposition People Power Party said an investigation revealed that 74 people, whose names matched those of Korea Land and Housing Corp. (LH) employees, made 64 land transactions in Gwangmyeong and Siheung, Gyeonggi Province, between early 2018 a

Foreign investors remained net sellers of South Korean equities in February, extending their selling spree for a third consecutive month, the central bank said Thursday. Foreigners sold a net $2.86 billion worth of local stocks last month, compared with net selling of $2.39 billion in January, according to the Bank of Korea (BOK).   Offshore investors, however, remained net buyers of Korean bonds worth $8.99 billion last month, the BOK said. Meanwhile, volatility in South Korea's

The Supreme Court on Thursday upheld prison sentences for two disgraced producers of Mnet, South Korea's leading music channel, for rigging the vote results of a popular audition program. The top court approved lower courts' sentences of two years in prison and forfeiture of 37 million ($32,600) for Ahn Joon-young, the producer of the audition program "Produce," and 20 months in prison for chief producer Kim Yong-beom. The Seoul Central District Court and the Seoul High Court handed

South Korea's economy is expected to stage a modest recovery from the coronavirus pandemic and the Bank of Korea (BOK) will continue monetary easing to prop up an economic recovery, the BOK said Thursday. In a regular monetary report, the BOK said it will pay close attention to household debts and financial imbalances as companies and households take advantage of cheap credit. "As the pace of the local economic recovery is expected to be modest, (the BOK) will keep monetary easing,"

The Supreme Court on Thursday rejected an appeal filed against a not-guilty verdict for the late owner of a state-run facility for vagrants. The top court ruled the acquittal of an illegal confinement charge handed down in 1989 to Park In-keun, the late owner of Brothers Home, was consistent with the criminal law, dismissing an extraordinary appeal lodged by former Prosecutor General Moon Moo-il. The court also did not accept the prosecution's claims that the verdict from three decades ago sho

The unification ministry on Thursday said it will continue to maintain close communication with the international community on a recently legislated ban on sending anti-Pyongyang leaflets into North Korea after a UN special rapporteur voiced concerns over South Korea's decision, an official said. Earlier, Special Rapporteur Tomas Ojea Quintana submitted a report to the UN Human Rights Council (UNHRC), expressing concern that the ban "limits many activities of escapees and civil society org

The ministries of foreign affairs, land and environment, and two public institutes will sign a tentative deal this week on using homegrown green technologies for the renovation and construction of South Korea's overseas diplomatic missions, officials said Thursday. The ministries, the Korea Institute of Civil Engineering and Building Technology, and the Korea Authority of Land & Infrastructure Safety are set to ink a memorandum of understanding (MOU) Friday on the "green smart" pr

Siblings of actress Yun Jung-hee, known to be long suffering from Alzheimer's disease in France, have requested guardianship for their older sister at a South Korean court, according to sources. Yun, 76, is best known outside the country for her lead role in South Korean director Lee Chang-dong's "Poetry," which won best screenplay at the Cannes Film Festival in 2010. She has been long married to renowned pianist Paik Kun-woo. The development is the latest in a legal fight over her g

South Korea has inoculated almost 1 percent of its population in 13 days after the country launched its long-awaited COVID-19 vaccination campaign, health authorities here said Thursday. On Feb. 26, the country began its inoculation program, with health care workers and patients aged below 65 at long-term care facilities, as well as front-line medical workers, among the first in line to receive their first shots. An accumulated 500,635 people were administered with their first shots as of midn

Three draftees and a civilian worker for the military have tested positive for the new coronavirus, bringing the total number of infections at the barracks to 614, the defense ministry said Thursday. The civilian works at the Army convention center, located inside the defense ministry compound in Seoul, and last visited her workplace on Sunday, according to the ministry. "Contact tracing is under way. We are also conducting virus tests for other center members and those suspected of havin

South Korea's home-meal replacement product market was estimated at 4.2 trillion won ($3.68 billion) in 2019, data showed Thursday, with the sector expected to continue to grow down the road on the growing number of single-member households. The annual average growth of the segment was 16 percent since 2010, according to the Korea Rural Economic Institute (KREI). The proportion of single-member households in South Korea surpassed 30 percent of the total for the first time in 2019. (Yonhap)

South Korea's agricultural ministry said Thursday it is looking into two suspected cases of highly pathogenic bird flu amid growing concerns over a prolonged battle against the animal disease. The latest suspected case of the H5N8 strain of avian influenza was reported in Chungju, 147 kilometers south of Seoul, the previous day, according to the Ministry of Agriculture, Food and Rural Affairs. Authorities are also investigating a separate suspected case at an egg farm in Naju, 355 kilometers s

IZ*ONE, a project girl group that debuted through a reality audition TV show, will disband next month as planned. "IZ*ONE's project will wrap up in April as planned," said music channel Mnet that had aired the series as well as the act's management agencies. Swing Entertainment and Off the Record said they had discussed other possibilities with the management agencies of the 12 members, promising to continue to support the members in their careers. With the disbandment, the Korean-J

North Korea's official newspaper on Thursday urged nationwide efforts to increase grain output, calling it "a crucial matter" in the country's push to achieve key goals unveiled in a rare party meeting early this year. "We need to realize that food insecurity is a crucial matter related to improving our peoples' lives and economic development, and thoroughly implement this year's plans for crop production," the Rodong Sinmun, the official newspaper of the ruling Workers' Par

Hyundai Motor Co. on Thursday released a teaser for the all-new minivan Staria ahead of its domestic launch in the first half of this year. The seven-seat multipurpose vehicle will replace the Starex minivan, a company spokesman said. Hyundai expects the Staria will help boost sales due to increasing outdoor activities amid the extended coronavirus pandemic. Prices and other details about the new Staria will be released later, he said. (Yonhap)

South Korea's daily new coronavirus cases stayed in the 400s for the third straight day Thursday amid growing concerns over a potential resurgence as a spate of cluster infections and increased untraceable cases put health authorities on edge. The country reported 465 more COVID-19 cases, including 444 local infections, raising the total caseload to 94,198, the Korea Disease Control and Prevention Agency (KDCA) said. The country added four more deaths from COVID-19, raising the total to 1,652.

피자를 배달하면서 아파트 현관 앞에 놓인 택배를 상습적으로 훔친 20대 남성이 경찰에 붙잡혔다. 11일 연합뉴스 취재에 따르면 서울 동작경찰서는 상습절도 혐의로 피자 배달원 A(28)씨를 검거해 조사하고 있다. A씨는 작년 12월부터 지난달까지 서울 동작구·서초구·관악구 일대에서 피자 배달을 하며 방문한 아파트에서 택배 물품을 18차례가량 훔친 혐의를 받는다. 그는 피자 배달원이라는 점을 이용해 쉽게 아파트 내부로 진입했던 것으로 조사됐다. A씨는 배달을 마친 뒤 엘리베이터를 타고 아파트 가장 높은 층으로 이동해 한 층씩 내려가며 복도에 놓인 택배 물품을 피자 배달용 가방에 숨겨 넣는 수법으로 범행한 것으로 파악됐다. 신종 코로나바이러스 감염증(코로나19) 영향으로 비대면 배송된 택배 물품들이 각 세대 문 앞에 놓여 있다는 점을 악용한 것이다. 아파트 중 복도에 폐쇄회로(CC)TV가 설치되지 않은 곳이 많은 데다, A씨가 배달용 가방에 숨길 수 있는

South Korean stocks opened higher Thursday on eased inflation concerns. The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.93 points, or 0.91 percent, to 2,985.05 points in the first 15 minutes of trading. The KOSPI rebounded after losing ground for the fifth session in a row as foreigners and individuals bought on bottom fishing. The yields of the benchmark 10-year US Treasury stabilized just above the 1.5 percent mark, soothing investor concerns over fast post-pandemic inflat

Two South Korean veterans who fought during the 1950-53 Korean War in a French battalion of the United Nations forces were to receive a military decoration from France on Thursday, the veterans affairs ministry said. French Ambassador to Seoul Philippe Lefort will deliver the decoration, called La Medaille Militaire, to Park Dong-ha, 93, and Park Moon-jun, 90, who fought alongside French troops in multiple battles on the Korean Peninsula during the war, according to the ministry. The decoratio