The economy in the third quarter grew 0.3% from the second.The Bank of Korea on Oct. 26 said in a report that gross domestic product (GDP) in the third quarter grew 0.3%.Last year, the economy contracted 1.3% in the first quarter and 3.2% in the second…
Britain’s Queen Elizabeth has pulled out of the COP26 conference in Glasgow next week after she was advised by doctors to rest, Buckingham Palace said on Tuesday, in a blow to the United Nations climate summit.A palace source said the decision to not a…
U.S. President Joe Biden on Tuesday rebooted his country’s lapsed relationship with the Association of Southeast Asian Nations by attending the annual meeting of the 10-member bloc virtually and announcing plans to provide up to $102 million to expand …
SEOUL– South Korea’s Hyundai Motor Co. on Tuesday turned around in the third quarter from a year earlier due to a lack of one-off costs, with chip shortages remaining as a major woe for carmakers.Hyundai Motor swung to a net profit of 1.487 trillion w…
SEOUL– South Korea and seven Central American nations will have a vice ministerial meeting in Seoul this week to boost cooperation in various areas, including trade, technology and health care sectors, the foreign ministry said Tuesday.Choi Jong-kun, …
SEOUL– Samsung Electronics Co. will quickly decide on a foundry investment in the United States, a senior executive said Tuesday, as the South Korean tech giant seeks to become the world’s No. 1 player in the logic chip and foundry sectors.Samsung Ele…
SEOUL– South Korea’s trade volume for this year surpassed the US$1 trillion mark Tuesday on the back of solid export growth amid the global recovery from the pandemic, reaching the milestone at the fastest pace ever, the trade ministry said.The countr…
SEOUL– Samsung Biologics, a biopharmaceutical unit of South Korea’s top conglomerate Samsung Group, said Tuesday its net income more than doubled in the third quarter on the back of increased sales.The company’s net profit reached 131.8 billion won (U…
SEOUL– SK hynix Inc., South Korea’s No. 2 chipmaker, reported strong third-quarter earnings Tuesday on the back of solid memory chip demand for severs and smartphones, and rising prices.Net profit for the three months that ended Sept. 30 leaped by 205…
SEOUL– South Korea’s Hyundai Motor Co. on Tuesday achieved a turnaround in the third quarter from a year earlier on a base effect but revised down its annual sales target due to chip shortages.For the three months ended on Sept. 30, Hyundai Motor swun…
SEOUL– Ku Hyeon-mo, CEO of KT Corp., apologized Tuesday for the abrupt disruption of network services that crippled businesses across the country earlier this week.On Monday, KT’s wired and wireless network services, including the internet, payment an…
SEOUL– The amount of auto taxes not paid by foreigners in South Korea has been on the steady rise in recent years, surpassing the 10 billion won (US$8.6 million) mark for the past two years, government data showed Tuesday.According to the data from th…