The South Korean Embassy in Indonesia has shut down temporarily after the ambassador tested positive for the novel coronavirus on Tuesday.  The embassy said it will halt operations through Thursday after reporting virus patients, including the South Korean Ambassador to Indonesia Park Tae-sung.  Workers at the embassy, as well as those at the South Korean mission to ASEAN in Jakarta, are currently being tested for the novel coronavirus, officials said. According to World Health Orga

Hyundai Motor Group, South Korea's largest automotive conglomerate, is mulling the sale of its railway business affiliate, industry sources said Tuesday. The group is considering selling Hyundai Rotem's loss-making railway business, according to the sources. Hyundai Motor, the group's crown jewel, is the largest shareholder in Hyundai Rotem, having held a 33.77 percent stake as of last year, which is estimated to value around 1 trillion won ($897 million) with the management premium.  Hy

First Vice Foreign Minister Choi Jong-kun has relayed South Korea's concerns over Japan's plan to release radioactive water into the sea during his visit to Colombia early this week, the foreign ministry said Tuesday.  He explained Seoul's position on Tokyo's planned discharge of the contaminated water into the Pacific Ocean from the wrecked Fukushima nuclear plant, when he met with his Colombian counterpart, Francisco Echeverri, the ministry said in a release.  Choi also mentioned t

CEO calls for deregulation to allow more innovative businesses

2PM is gearing up to come out with new album in summer, according to media reports on Tuesday.  The band is preparing for a new album although specific dates are yet to be set, confirmed label JYP Entertainment following the reports.  The bandmates are writing songs on their own while choosing some from songwriters that spans across genres. The six-piece act’s last album together was its sixth studio album “Gentlemen’s Game” that was released in September 201

South Korean stock index’s growth rate ranks sixth among G-20 peers, says KRX

Gimpo family is Korea’s ‘first known community spread of variant virus’

Volatility in the local cryptocurrency market continued Tuesday, with most digital coins including Bitcoin suffering sellouts as authorities strengthen measures against suspicious trading. The extreme volatility sent Bitcoin’s value from a record high of 82 million won ($73,722) April 13 to 67 million won Tuesday, falling below 70 million won for the first time since April 7. It recovered earlier losses in the afternoon, bouncing back up to reach 69 million won. A market index developed

S-Oil said Tuesday that the company has signed Kumho Tire as the first partner for its all-in-one car management platform “Eurecar.” Set for release next year, the mobile app will offer a wide spectrum of services from non-face-to-face charging and payment services at S-Oil gas stations, to dialing designated drivers, valet parking and making car wash reservations. “The partnership with Kumho Tire will allow customers to purchase tires on the Eurecar app and replace tires

A "vaccine swap" agreement that South Korea is looking at with the United States could be a loan deal in which the country receives surplus COVID-19 vaccines from the US and gives the same amount back later, sources said Tuesday. Foreign Minister Chung Eui-yong said during a parliamentary session earlier in the day that the country is discussing a "vaccine swap" arrangement with the US "fairly seriously" and the issue was a key focus in his talks with US Special Pr

Multiple-home owners in one of Seoul’s most expensive districts have been scrambling to give away their apartments to family members or relatives as gifts before toughened tax rules come into force in June, according to data released by the state-run Korea Appraisal Board on Tuesday. The number of apartment transfers among family members in Gangnam-gu, a southern Seoul district, hit a monthly record high of 812 in March, 6.3 times higher than 129 marked in the previous month, the data

Seoul Spring Festival of Chamber Music to take place May 13-23

Business lobby, private experts call for deregulations in health care to align with global trends

Pandemic may have halted rebound in numbers

Yuhan-Kimberly has teamed up with the Korea Forest Service and an environmental organization to create a forest dedicated to carbon neutrality, the South Korean hygiene product manufacturer said Tuesday. 　 According to the company, the firm, the state-run Korea Forest Service and Forest for Life agreed to work together to plant trees in Seokpo Forest in Yongin, Gyeonggi Province, to establish what they christened the carbon neutrality forest. On April 8, the company held a signing ceremony a