뉴스

Korean election body’s efforts to curb conspiracy theories backfire amid ballot shortages

DAPA chief pays respects to victims of Hanwha Aerospace explosion

The chief of South Korea's defense procurement agency on Friday paid his respects to the victims of a recent explosion at a Hanwha Aerospace factory in the central city of Daejeon, the Defense Acquisition Program Administration said. DAPA Minister Lee Yong-cheol visited the facility in the city, located about 140 kilometers south of Seoul, to inspect ongoing recovery efforts and discuss prevention measures, according to the agency. The explosion occurred Monday, leaving five people dead and two

Foreign reserves drop in May on FX market-stabilizing measures

South Korea's foreign reserves fell slightly last month amid efforts by authorities to manage exchange rate volatility, the central bank said Thursday. The country's foreign reserves stood at US$426.99 billion as of end-May, down $880 million from a month earlier, according to data from the Bank of Korea (BOK). The figure had risen $4.22 billion in April, following a $3.97 billion decline in March, which was the sharpest monthly drop in about a year. The BOK attributed the on-month decline to au

DP: Exit Poll Results Confirm Public Sentiment Supportive of Pres. Lee's Efforts for Gov't Stability

[Politics] : The ruling Democratic Party(DP) has assessed that exit poll results for the June 3 local elections have confirmed public sentiment is supportive of President Lee Jae Myung’s efforts for government stability. Rep. Lee Yeon-hee, who heads the situation room and strategy division of the DP’s election ... [more...]

Parties Make Last-Ditch Efforts to Win Support on Eve of June 3 Elections

[Politics] : Rival political parties made last-ditch efforts to win voter support up until official campaigns for the June 3 local and by-elections came to a close at midnight. Tuesday night at Seoul’s Cheonggye Plaza, ruling Democratic Party(DP) chair Jung Chung-rae urged the public to elect the party’s Seoul ... [more...]

Opposition Party Targets Key Regions ahead of Election Day

[Politics] : The Chungcheong and Gyeongsang provinces are the focus of the main opposition People Power Party’s final campaign efforts on the eve of the local elections. Party Chairman Jang Dong-hyeok delivered a public statement at the party’s headquarters in Seoul on Tuesday morning before traveling to ... [more...]

Gov't Extends Strategic Oil Stockpile Swap System Until End of June

[Economy] : South Korea will continue to operate its strategic oil stockpile swap system until the end of this month as part of efforts to reduce disruptions in crude oil supply and oil production amid the ongoing conflict in the Middle East. The Ministry of Trade, Industry and Energy announced on Tuesday that the ... [more...]

Egypt unveils a striking trove of ancient artifacts as the country tries to boost tourism industry

CAIRO (AP) -- Archaeologists unearthed a set of ancient artifacts in Egypt including Pharaonic funerary furniture, remains of a Roman basilica and a marble head of Aphrodite, the ancient Greek goddess of love and beauty. The discoveries, announced Sunday, are part of the Egyptian government's efforts to boost the country's tourism industry and bring cash to the troubled economy. At the center of these efforts was the November inauguration of the long-delayed Grand Egyptian Museum, a megaproject

S. Korea, Canada discuss stronger space, defense cooperation amid submarine bidding race

South Korea and Canada have discussed deeper partnership in advanced industries, including space and defense, Seoul's industry ministry said Tuesday, as the country is making last-minute efforts to win Canada's submarine project. The Ministry of Trade, Industry and Resources and the Korea Trade-Investment Promotion Agency jointly hosted a business roundtable in Toronto on Monday to promote cooperation between Korean and Canadian companies. The event was attended by presidential chief of staff Ka

Lee’s chief of staff visits Canada as submarine bid nears decision

Seoul is intensifying joint public-private efforts behind its bid for Canada’s next-generation submarine project, with presidential chief of staff Kang Hoon-sik traveling to Canada as a special envoy. Kang said Sunday he was leaving for Canada as President Lee Jae Myung’s special envoy for strategic economic cooperation. The delegation includes officials from the Ministry of Trade, Energy and Resource and Foreign Ministry, along with companies and industry groups in energy, resources, supply cha

Otoki enters Japan to expand global footprint

Otoki is entering the Japanese market as part of efforts to diversify its overseas business and secure new growth opportunities, the leading South Korean food company said Monday. The company established a local sales subsidiary in Tokyo on May 15 and plans to begin full-scale operations after September. The Japanese unit will become Otoki's fourth overseas base, following operations in New Zealand, the US and Vietnam. Otoki said Japan will play a strategic role in its global expansion plans, as

Korea to offer 24-hour won-dollar trading from July

South Korea's foreign exchange market will move to round-the-clock won-dollar trading from July, marking a major step in efforts to improve market accessibility. Seoul authorities approved revisions to the code of conduct for the onshore forex market at a meeting held Friday, the Finance Ministry announced through a statement released Sunday. The change will take effect from July 6. Under the revised code, won-dollar trading hours, currently set from 9 a.m. to 2 a.m. the following day, will be e

Hanwha Ocean highlights potential $68b GDP impact in Canada submarine bid

Hanwha Ocean is advancing its efforts to win a 60 trillion won ($39.8 billion) submarine bid from Canada, proposing an ambitious plan to boost the Canadian economy at CANSEC 2026, the country’s largest defense and security trade show. During the event — held from Wednesday to Thursday — the company engaged with Canadian government officials and industry leaders, emphasizing that it could generate more than 22,500 jobs and contribute 94 billion Canadian dollars ($68 billion) in GDP impact if it i

CJ chairman visits 1st Olive Young store in US

CJ Group Chairman Lee Jae-hyun visited CJ Olive Young Corp.'s first US store in California and called for efforts to promote healthy and stylish lifestyles among American consumers, the company said Sunday. During the visit, Lee described the launch of the health and beauty retailer's first US outlet as a "first step" toward expanding in the United States, the world's largest consumer market, according to the retail and entertainment conglomerate. The 803-square-meter store is located in a major

Kazakhstan pledges support for Seoul’s bid to diversify energy supplies: Cheong Wa Dae

Kazakhstan pledged to support South Korea’s efforts to diversify its energy supplies, including moves to facilitate Seoul’s imports of Kazakh crude oil, amid supply chain disruptions caused by the Iran war, Cheong Wa Dae said Friday. The two sides also agreed during high-level talks in Kazakhstan to use the first Korea-Central Asia summit, which South Korea is set to host in September, as a key opportunity to deepen bilateral and regional ties. National Security Adviser Wi Sung-lac met Roman Skl

Rival Parties Ramp Up Efforts to Mobilize Voters as Early Voting Begins

[Politics] : Anchor: As early voting began for the June 3 local elections, rival parties ramped up efforts to rally their supporters. The ruling Democratic Party called on voters to back its candidates as a way to show support for President Lee Jae Myung’s administration, while the main opposition People Power Party ... [more...]

Samsung Epis sets up 1st overseas bio R&D center in Beijing

Samsung Epis Holdings, the holding company of biosimilar drug developer Samsung Bioepis, said Friday it has established a research and development center in China as part of efforts to strengthen its new drug development capabilities. According to the biotech company, it recently set up a wholly owned subsidiary, Samsung Bioepis China, in Beijing’s Changping district as its first overseas R&D foothold. Samsung Epis Holdings, which was launched in November, noted that the establishment of the new

Samsung readies next-gen AI memeory HBM4E chip

Samsung Electronics said Friday it has begun shipping samples of its latest high-bandwidth memory (HBM) chip, the 12-layer HBM4E, marking the world's first shipment of the next-generation artificial intelligence memory product. The move comes just three months after Samsung became the first company to begin mass production and shipments of sixth-generation HBM4 chips in February, underscoring its efforts to strengthen its leadership in the rapidly growing AI memory market. According to the compa

Rival Parties Intensify Campaigns as Early Voting Nears

[Politics] : Anchor: With early voting for the local elections just a day away, the ruling Democratic Party is stepping up efforts to win over undecided voters by taking a stand for safety. On Thursday the party held a safety forum while the main opposition People Power Party staged rallies in battleground regions such ... [more...]

Korean investors chase US stocks despite Kospi rally

South Korea’s efforts to draw retail investors back to domestic markets through reshoring investment accounts, incentives and a surging Kospi are failing to slow the retail rush into US stocks. According to the Korea Securities Depository on Thursday, Korean investors’ custody holdings of US equities climbed to $200.4 billion as of May 26, already exceeding last year’s full-year record within just five months. The figure marks a 22 percent increase from the end of 2025. The surge was driven larg