Foreign Minister Chung Eui-yong told his Iranian counterpart Wednesday that South Korea is making sincere efforts to release Tehran’s assets frozen in Seoul, the foreign ministry said.  The phone call with Iranian Foreign Minister Mohammad Javad Zarif came a day after Tehran claimed that it had reached an agreement with Seoul on the transfer and use of US$7 billion of its funds frozen in South Korean banks due to U.S. sanctions. South Korea later said that the two sides agreed i

South Korean conglomerate GS Group said Wednesday it had launched an environmental council consisting of its chief governance officers in an effort to strengthen the group’s ESG approach. The council will serve as the group’s top decision maker on matters such as pursuing new environmentally friendly business projects and anything ESG -- investments that prioritize environmental, social and governance issues. The decision to form the council comes as taking an ESG approach is being

Transport Ministry says defective batteries probably caused fires; LG Energy Solution disagrees

Face masks, social distancing still required post-vaccination

South Korea’s public pension fund, the National Pension Service, has logged a 9.7 percent return last year to gain 72.1 trillion won ($65 billion) in its preliminary estimate, the government said Wednesday. Health Minister Kwon Deok-chul, who chairs NPS’ Fund Management Committee, added that the world’s third-largest pension fund was managing 833.7 trillion won worth of assets as of end-2020, in a committee meeting held in Seoul. The estimate will be finalized in June, accordi

Coupang boasted the highest customer satisfaction rate among e-commerce platforms providing early morning delivery, according to a new survey by the Korea Consumer Agency. The e-commerce giant, famous for its subscription-based Rocket Delivery service, had a score of 3.81 and was followed by SSG.com, another online marketplace owned by Shinsegae Group, and grocery delivery firm Market Kurly, whose scores were 3.76 and 3.72, respectively, the agency said Wednesday. The online survey asked a sam

A Seoul court has granted an injunction to temporarily lift the suspension order given to MBN, a local cable TV channel last year over accounting fraud, judicial sources said Wednesday. According to the sources, the Seoul Administrative Court has recently ruled in favor of MBN, halting a six-month suspension order issued by the country's telecommunications regulator. In October, the Korea Communications Commission (KCC) ordered the broadcaster to suspend its service after concluding that MBN m

The government will prepare guidelines and a protective network for industrial accidents to strengthen its role as an overseer and administrator over malpractice, as the country continues to report deaths from workers on duty, the Ministry of Employment and Labor said Wednesday. In a press briefing, Labor Minister Lee Jae-kap said the ministry is preparing to work with industries and corporations to create detailed guidelines that fall well within the realities of those obliged to follow. &ldq

South Korea’s patent protection agency is seeking to sharpen the nation’s industrial edge by overhauling intellectual property policies amid the rapid digital transformation brought on by the COVID-19 era. Artificial intelligence and data have emerged as essential means of generating intellectual property, but uncertainties surrounding related laws and a lack of institutional support are hindering the use of such technologies. The acceleration of the transition to a digital econo

Operator of Incheon Airport also pledges support to keep struggling duty-free businesses afloat

South Korea on Wednesday launched a new regulatory agency dedicated to accelerating the utilization of carbon materials in five core industries, including future mobility. The Korea Carbon Industry Promotion Agency, which will be overseen by the Ministry of Trade, Industry and Energy, aims to provide regulatory support for the carbon industry and spearhead economic feasibility tests of carbon materials to accelerate their commercialization in the market. The government appointed Bang Yun-hyuk

Samsung Electronics Co.'s market share in the global foundry industry is expected to increase in the first quarter of the year from the previous three months, a report showed Wednesday, though its growth was projected to be lower than the industry average amid high demand for chips. Samsung's foundry business was estimated to log a market share of 18 percent with revenue of $4.05 billion in the January-March period, up 11 percent from a year earlier, according to a report from industry tracker

Price plunges more than 20% within two days

  Ateez announced on Wednesday that it will come out with a studio album titled, “Into the A to Z,” in March. 　 In the photo that was released with the announcement, seven bandmates of the eight-piece act donned white outfits, showing off an elegant side of the group. Mingi is taking a break due to health reasons.  　 This is the band’s first all-Japanese album since it officially debuted in Japan in December 2019. Its “Treasure EP. Extra: Shift The Map”

Focusing on her character’s reactions to what was going on in the story, Han says she had no difficulty playing an immigrant mother