South Korean stocks finished lower for a second straight day Tuesday, as uncertainties increased, with investors seeking to take profits ahead of the expiration of stock options. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.57 points, or 0.21 percent, to close at 3,084.67 points. Trading volume was moderate at about 2.1 billion shares worth some 18.1 trillion won ($16.2 billion), with losers outnumbering gainers 362 to 474. Foreigne

President Moon Jae-in will talk with eight South Korean citizens via a popular mobile messenger app on the occasion of the Lunar New Year holiday this week, Cheong Wa Dae said Tuesday. The video call scheduled for Thursday is part of Moon's stated efforts to rev up "direct public communication," as the people are going through difficulties from the COVID-19 crisis. Moon has set "recovery, inclusiveness and resurgence" as key policy goals of 2021. The eight, selected to repr

A couple from Yongin, just south of Seoul, has been put under emergency arrest for allegedly having maltreated their live-in niece to death, police said Tuesday. The man and his wife, both in their 40s, are accused of having beaten their 10-year-old niece with a plastic broom and other objects and repeatedly throwing her into their home bathtub until she stopped breathing Monday. According to the Yongin Dongbu Police Station, the girl lost consciousness after being forcibly put in and out of b

South Korea's health authorities said Tuesday they have identified 26 more cases of COVID-19 variants, vowing to step up monitoring on foreign arrivals to better detect potential cases. The Korea Disease Control and Prevention Agency (KDCA) said 24 people were confirmed to have been infected with the variant from Britain, while one person was infected with the South African variant and another with the one from Brazil. Among them, four were domestically infected cases after coming in contact w

Video calls will be free of charge during the Lunar New Year holiday to encourage virtual family meetings, the ICT ministry said Tuesday, as the country's efforts to curb new coronavirus cases limit in-person contact. The Ministry of Science and ICT said the country's three major telecom operators -- SK Telecom Co., KT Corp. and LG Uplus Corp. -- agreed to not charge for video calls made over the upcoming holiday period, which falls on Feb. 11-14 this year, for all smartphone users in the count

South Korea is in talks with Indonesia about a joint project to develop a next-generation fighter jet, the head of the arms procurement agency said Tuesday, amid speculation that the Southeast Asian nation wants to quit the project. Indonesia agreed to partner in South Korea's KF-X project aimed at developing a new fighter jet by 2026, and promised to shoulder 20 percent of the total development cost of 8.8 trillion won ($7.3 billion), or about 1.7 trillion won. But Indonesia stopped making pa

Kia Corp., South Korea's second-biggest carmaker by sales, said Tuesday it will invest 29 trillion won ($26 billion) in car manufacturing facilities and future mobility technologies by 2025. Kia will spend 18.8 trillion won on enhancing profitability in the existing car manufacturing business and 10.1 trillion won on generating business opportunities through investments in future mobility technologies, the company said at this year's CEO Investor Day event. The maker of the K5 sedan and the Te

South Korea's e-commerce market expanded nearly 20 percent in 2020 amid the coronavirus pandemic to rank fifth in the world, a report showed Tuesday. Local e-commerce sales came to $104.1 billion last year, up 19.5 percent from a year earlier, according to the report released by the Korea SMEs and Startups Agency and based on data from market researcher eMarketer. China topped the global e-commerce market list with $2.8 trillion, trailed by the United States with $709.8 billion, Britain with $

South Korea's tax revenue fell 7.9 trillion won ($7.1 billion) in 2020 from a year earlier as corporate tax earnings declined amid the pandemic, the finance ministry said Tuesday. The country collected 285.5 trillion won in taxes last year, compared with 293.5 trillion won the previous year, according to the Ministry of Economy and Finance. Last year, the collection of corporate taxes declined 16.7 trillion won on-year to a four-year low of 55.5 trillion won, as business activity remained slug

KT Corp., a major South Korean telecom operator, said Tuesday it shifted to a net profit during the final quarter of last year on the back of growing 5G users. Net income reached 39.1 billion won ($35 million) in the October-December period on a consolidated basis, compared with a loss of 10.2 billion won the previous year. Operating income rose 6.4 percent on-year to 166.8 billion won, while sales stood at 6.2 trillion won, up 0.2 percent over the cited period. KT said an increase in its 5G

Over six out of 10 South Korean youth think that unification with North Korea is necessary, a survey showed Tuesday. In a survey conducted by the education and unification ministries on 68,750 students enrolled in elementary, middle and high schools nationwide from Nov. 2-30 of last year, 62.4 percent said that the two Koreas need to reunify. The finding marks a 6.9 percentage point jump from a similar poll conducted a year ago. Among students who saw the need for unification, 28.4 percent cit

Culture Minister nominee Hwang Hee pledged efforts Tuesday to help recover the culture, sports and tourism sectors hit particularly hard by the brunt of the COVID-19 pandemic. "Those who work in the culture, sports and tourism fields have been under bigger and graver pain from the COVID-19 pandemic," the nominee said in his speech to the parliamentary culture committee during a confirmation hearing. "I will pour my utmost efforts to helping them recover rapidly if I am appointed

Prosecutors dropped a charge on Tuesday against Prosecutor General Yoon Seok-youl that he ordered the illegal surveillance of judges hearing politically sensitive cases. The Seoul High Prosecutors Office said it concluded that the abuse of power accusation against Yoon was unfounded, after questioning multiple people involved in the case and going over similar cases. The Ministry of Justice in February ordered the Supreme Prosecutors Office (SPO) to investigate the allegation. The SPO later re

Combined service output declined in 15 provinces and major cities in South Korea in the fourth quarter of last year as the pandemic hit the segments providing face-to-face services, data showed Tuesday. Except for Seoul, six cities and nine provinces posted an on-year fall in service output in the October-December period, according to Statistics Korea. Service output in Seoul -- home to about one-fifth of the country's 51.6 million population -- rose 0.9 percent on-year in the fourth quarter,

The delinquency rate for South Korean banks' won-denominated loans fell in December last year from the previous month, the financial regulator said Tuesday. The rate for bank loans more than 30 days overdue stood at 0.28 percent at the end of December, down 0.07 percentage point from the previous month, according to the Financial Supervisory Service (FSS). Compared with a year earlier, the bank loan delinquency rate was also down 0.09 percentage point. Banks' loan delinquency rate remains sta

South Korean shipbuilders held on to their global No. 1 status in terms of new orders of ships in January, outpacing their Chinese rivals for the seventh straight month, industry data showed Tuesday. According to the data provided by global market researcher Clarkson Research Service, South Korean shipyards bagged new orders totaling 910,000 compensated gross tons (CGTs), representing 54 percent of the 1.7 million CGTs ordered globally in January, or 24 of 66 ships. The South Korean shipbuilde

A senior Renault Group executive on Tuesday said its South Korean operations should ramp up production and cut manufacturing costs to stay afloat amid the coronavirus crisis. Jose Vicente de Los Mozos, executive vice president in charge of manufacturing and supply chain at Renault, made the comments in a video message delivered to workers at the French carmaker's sole Korean plant in Busan, 450 kilometers south of Seoul. Last year, Renault Samsung Motors Corp. promised to improve productivity

A planned live-fire exercise involving Apache attack helicopters of the US Forces Korea has been suspended following noise and other complaints from residents near the firing range in the southeastern city of Pohang, officials said. The Anti-Corruption and Civil Rights Commission said the drill, which had been scheduled to begin on Tuesday and continue until next month, will be suspended while a mediation procedure is under way with residents near the Suseong firing range in Pohang. "As t

The unification ministry on Tuesday expressed hope for the early reopening of a now-shuttered industrial complex in North Korea's border town of Kaesong as it marks the fifth anniversary of its closure amid chilled inter-Korean relations. South Korea closed the Kaesong Industrial Complex in February 2016 in retaliation against the North's nuclear and missile provocations. The Kaesong complex had been considered one of the most tangible symbols of inter-Korean reconciliation. "The governme

North Korea has been conducting regular wintertime military drills without showing any unusual moves ahead of the birthday of late leader Kim Jong-il, the South Korean military said Tuesday. North Korea celebrated the 73rd anniversary Monday of the foundation of its army and has another key national holiday coming up, which is the Feb. 16 birthday of its late leader, the father of current leader Kim Jong-un. "North Korea's military is continuing wintertime exercises and has not shown any