South Korea's top economic policymaker and the chief of the central bank said Tuesday that more prudent risk management is necessary as much of the idle money is flowing into assets, such as property and stocks. "The financial market showed stability in the wake of the COVID-19 pandemic, but there are growing concerns over the growing gap between the real economy and the financial sector," Finance Minister Hong Nam-ki said in a message for the new year to financial firms. "More

The number of deaths from the new coronavirus surpassed the 1,000 mark in South Korea, with the third wave of the pandemic having accelerated the growth of new fatalities in the past month. The Korea Disease Control and Prevention Agency (KDCA) said the country reported 28 additional deaths from COVID-19, bringing the total fatalities to 1,007. Of the accumulated deaths, 295 were reported in Gyeonggi Province surrounding Seoul, followed by 204 in Seoul and 203 in the central city of Daejeon, t

Hyundai Motor, South Korea's biggest carmaker, will build its first overseas hydrogen fuel cell systems plant in China as it seeks to enter the local hydrogen market, industry sources said Tuesday. Hyundai Motor aims to build the hydrogen fuel cell systems plant in Guangzhou within this year as it has recently obtained government approval for the investment plan, a person familiar with the matter said over the phone. "Hyundai Motor is in talks with a Chinese company to form a joint compan

South Korean stocks opened lower Tuesday, tracking overnight Wall Street losses over jitters from the coronavirus pandemic. The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.28 points, or 0.08 percent, to 2,942.17 in the first 15 minutes of trading. Stocks got off to a muted start, with the global coronavirus infections exceeding 85 million and the new COVID-19 variant spreading concerns in major economies. Investors' desire for profits also increased after a five-session record-

The third wave of the COVID-19 pandemic in South Korea appears to be slowing down with the help of tough restrictions ahead of the holiday season, but concerns remain over continued cluster infections at virus-prone facilities and a more transmissible virus variant, health authorities said Tuesday. The country added 715 more COVID-19 cases, including 672 local infections, raising the total caseload to 64,979, according to the Korea Disease Control and Prevention Agency (KDCA). Tuesday's daily

보호자가 집을 비운 사이 불이 나 큰 피해를 입은 인천의 초등학생 형제 중 형이 4개월간의 치료 끝에 퇴원한다. 5일 이들 형제의 치료비를 모금한 사단법인 '따뜻한 하루'에 따르면 형 A(11)군은 이날 퇴원할 예정이다. A군은 온몸의 40%에 심한 3도 화상을 입었으나 다행히 다른 부위에 비해 얼굴의 화상 정도가 심하지 않아 올해 학교에 다시 등교할 계획이다. 구체적인 등교 시기는 아직 정해지지 않은 것으로 전해졌다. 그는 화재가 발생한 지난해 9월 중순부터 쭉 입원 치료를 받아왔으며 3개월 만인 지난해 12월 화상 병동에서 재활 병동으로 옮겨졌다. 동생인 B(사망 당시 8세)군이 치료 한 달여 만인 지난해 10월 21일 끝내 숨졌지만, 가족은 A군의 충격을 우려해 이 사실을 당분간 전하지 않은 것으로 알려졌다. 그러나 동생이 계속 보이지 않는 것을 이상하게 여기는 A군에게 어머니가 "동생이 하늘나라에 갔다. 거기에서는 아프지 않을 테니 너무 걱정하지 말고 다음에

South Korea's pharmaceutical giant Celltrion Inc. is expected to release the outcome of its second phase clinical study of anti-COVID-19 monoclonal antibody treatment later this month, company officials said Tuesday. The Korean Ministry of Food and Drug Safety is currently reviewing conditional approval of CT-P59, also known as Regdanvimab, a move that could potentially lead to manufacturing and sales of the first homegrown treatment. This submission was based on the data from the global phase

WASHINGTON -- North Korea is not showing any signs of preparation to stage a major provocation at least for now, the chief of US Forces Korea (USFK) said Monday. "I say that we are not seeing any indicators that suggest that there would be a major provocation. But that's today. That could change next week," Gen. Robert Abrams said when asked if North Korea may stage a military provocation before or after the Jan. 20 inauguration of US President-elect Joe Biden. Many experts beli

South Koreans' spending on liquor and cigarettes reached an all-time high in the third quarter of 2020 amid the coronavirus outbreak, central bank data showed Tuesday. Local households spent 4.3 trillion won ($3.96 billion) on alcohol and cigarettes in the July-September period, up 6.2 percent from a year earlier, according to the data from the Bank of Korea. It represents the largest quarterly figure since 1970, when the central bank began tracking related data. The on-year increase is the h

WASHINGTON -- The US State Department on Monday called on Iran to immediately release a South Korea-flagged tanker it detained. The State Department argued Iran's detention of the South Korean tanker may be part of an attempt to force the international community to remove its sanctions on the country. "The United States is tracking reports that the Iranian regime has detained a Republic of Korea-flagged tanker," a department spokesperson told Yonhap News Agency, referring to South Ko

South Korean shipbuilders are expected to take the top spot in new global shipbuilding orders for 2020 despite the fallout of the coronavirus pandemic, industry sources said Tuesday. Local shipyards' new orders came to 7.98 million compensated gross tons (CGTs) as of Dec. 28 last year, ranking first worldwide, according to data provided by global market researcher Clarkson Research Service. Chinese shipbuilders came in second with 6.73 million CGTs. Global new orders totaled 17.92 million CGTs

President Moon Jae-in called Monday for better protection of young adoptees and stronger oversight of adoption procedures, amid public outrage over a fatal child abuse case. Citizens voiced anger online and offline over the case involving a 16-month-old adoptee who died in October, allegedly after having been abused by her adoptive mother. The case resurfaced recently after a local broadcaster reported on the case. "Make all efforts to ensure the post-adoption management of adopted childr

Foreign Minister Kang Kyung-wha called Monday for early high-level exchanges with the incoming US administration of Joe Biden to cement the bilateral alliance, and for continued global cooperation in fostering lasting peace on the Korean Peninsula. Kang made the remarks in a New Year's address, as Seoul seeks to revive stalled nuclear diplomacy with North Korea through closer cooperation with the Biden administration, set to be launched later this month, and other regional partners. "On t

FC Seoul finished in a disappointing ninth place among 12 clubs in the K League 1 in 2020, just a year after ranking in third place. And their new head coach, Park Jin-sup, is determined to take them back to the upper echelon, because that's where he thinks FC Seoul belong. "I think that is where we're supposed to be," Park told reporters Monday, before opening offseason camp at GS Champions Park, the club's training facility in Guri, just east of Seoul. "We have some veterans a

A former executive of Kumho Asiana Group and a former employee of the nation's antitrust watchdog are under prosecution's probe for allegedly conspiring to delete documents unfavorable to the company, judicial sources said Monday. According to the sources, the Seoul Central District Prosecutors Office has arrested a former employee of the Korea Fair Trade Commission (KFTC), surnamed Song, on the charge of receiving kickbacks, and a former executive of the nation's 20th-largest business group,

President Moon Jae-in has signed a formal request for the National Assembly to hold a confirmation hearing on his pick to become the inaugural chief of a high-profile corruption investigation agency, Cheong Wa Dae said Monday. Moon sealed the document and then his office sent it to the parliament, according to Cheong Wa Dae spokesman Kang Min-seok. The president nominated Kim Jin-wook, a former judge, as head of the Corruption Investigation Office for High-ranking Officials (CIO) on Wednesday.

South Korean carmakers' sales fell 5 percent last month from a year earlier as the COVID-19 pandemic continued to weigh on demand, industry data showed Monday. The five carmakers in South Korea -- Hyundai Motor, Kia Motors, GM Korea, Renault Samsung Motors and SsangYong Motor -- sold a combined 658,550 vehicles in December, down from 694,988 units a year ago, according to data from the companies. Their domestic sales fell 8 percent to 133,061 units in December from 144,839 a year ago, while ov

Renault Samsung Motors Corp. said Monday that its auto sales tumbled 46.9 percent last month from a year earlier as the COVID-19 pandemic continued to weigh on demand for its models. The South Korean unit of Renault SA sold 9,016 vehicles in December, down from 16,965 units a year earlier, the company said in a statement. Domestic sales decreased 19.7 percent on-year to 8,010 units last month, while exports tumbled 85.6 percent to 1,006 units over the cited period, the firm said. For the whol

An art installation shaped like a giant moon has been constructed on a dock on the Han River, the Seoul city government said Monday. The installation, named "Dalbitnodeul," which means "Nodeul under the moonlight," is made up of two circular metal structures, each 12 meters in diameter, adjacent to Nodeul Island near the middle of the city. There is an observation deck on the second floor, with a view of the Han River and downtown Seoul, and steps inside the installation wh

Global shipbuilding behemoth Hyundai Heavy Industries Holdings Co. (HHIH) will be able to complete the acquisition of smaller local rival Daewoo Shipbuilding & Marine Engineering Co. (DSME) within the first half of this year, the company's chairman said Monday. "The review of the business combination (between HHIH and DSME) has been a little delayed but is expected to be completed within the first half of this year," HHIH's chairman Kwon Oh-gap said in his New Year's message. The