By Steve Yoon President Yoon Suk Yeol and Joe Biden Wednesday(local time) agreed to formalize a series to steps to try to deter North Korea and promised a swift response using all capable assets of the alliance, including U.S. nuclear weapons. Yoon and Biden adopted the "Washington Declaration" to strengthen extended deterrence against North Korean nuclear and missile threats during a summit at
By Steve Yoon Samsung Electronics Co. reported on Thursday a deficit of 4.58 trillion won in its semiconductor business alone in the January-March period. Its previous year's profit was 8.45 trillon won. It is the worst quarterly profit in 14 years since the first quarter of 2009, when the world was emerging from the 2008 financial crisis. The world's largest smartphone maker reported operating
By Steve Yoon Mirae Asset Global Investments Co. announced on Moday its joint venture, Global X Japan, has attained assets under management (AUM) worth 100 billion yen in almost two years since releasing its first product in Japan. Japan’s ETF market, valued at around 60 trillion yen, is dominated by index-tracking ETFs such as TOPIX and Nikkei225 funds, accounting for 85 percent of the total. G
By Steve Yoon Korea’s top-tier investment bank and securities firm Mirae Asset Securities on Tuesday disclosed plans for this year’s social contribution activities. Accoring to Mirae Asset, Wednesday, all employees including Chairman Choi Hyun-man will carry out various social activities throughout the year. Starting from March, the company plans to publish environment-related pop-up books
By Steve Yoon Mirae Asset Mutual Fund announced the launch of Mirae Asset Nifty 100 Low Volatility 30 ETF. The New Fund Offer (NFO) is open and it will close for subscription on March 21. The scheme reopens for continuous sale and repurchase on March 27. Mirae Asset ETF is a part of Mirae Asset Mutual Fund, one of the fastest-growing fund houses in India. It is used for Exchange Traded Funds mana
By Park Si-soo SEOUL, Feb. 3 (Sankyung Today) -- The government of South Korea has chosen Arianespace's Vega C rocket to carry their KOMPSAT-6 imaging satellite into orbit. The satellite had been on hold due to international sanctions against Russia for their involvement in Ukraine. The vice minister for science, Oh Tae-seog, made the announcement on February 1st after a bidding process. Previous
By Park Si-soo SEOUL, Jan. 31 (Sankyung Today) -- Unastella, a South Korea-based manned space launch vehicle start-up, has raised $4.4 million in a pre-series A financing round. It was led by Strong Ventures and including investment from Hana Ventures, InterValue Partners, Base Investment, Aston Ventures, and Hana Securities. This latest investment brings the cumulative investment amount to $4.85
By Steve Yoon U.S. Secretary of Defense Lloyd Austin arrived in South Korea on Monday and is schedueld to hold talks with his Seoul's counterpart over North Korean nuclear and other security issues. The talks are expected to focus on ways to improve the readiness of the U.S. extended deterrence, including the discussion-based table-top exercise that the allies are planning to hold in the U.S. ne
By Steve Yoon North Korean official has denied alleged weapons transactions with Russia, warning the United States of an "undesirable result" if it continues to spread such rumors. Kwon Jong-gun, a senior North Korean offical in charge of U.S. affairs in a statement, claimed the U.S. again talked about the "groundless rumor" of arms dealing between North Korea and Russia in an attempt to justi
By Steve Yoon Posco Holdings has reported a 50 percent operating profit drop in 2022, largely due to a typhoon in September and a steep drop in global demand. Net profit of the holding company was 3.6 trillion won ($2.9 billion) last year, down 50 percent on year, falling short of the 4.7 trillion won, the company said in a regulatory filing. Annual revenues came in at 84.8 trillion won. Operatin
By Steve Yoon Seoul city plans to provide 34.6 billion won for vulnerable people to help them cope with surging costs of heating their homes. The Seoul Metropolitan Government said on Thursday that it will additionally fund the emergency heating support for low-income households and welfare establishments for the elderly, disabled, and homeless people. The city will offer 30 billion won for 300,0
By Steve Yoon Grandchildren of chaebol, Korean family-owned conglomerates, have been indicted on charges of use and possession of marijuana. A 40-year-old man surnamed Hong, a grandson of major dairy firm Namyang Dairy Products founder Hong Doo-young, and a 39-year-old man surnamed Cho, a grandson of the Hyosung Group founder were indicted on charges of using and distributing the illegal drug, acc
By Steve Yoon Two crew members were confirmed dead and eight others were missing Wednesday after their cargo ship carring 22 crew sank in rough waters off southern island of Jeju. According to to the Coast Guard's Jeju branch, 14 Chinese and eight Myanmarese crew members were aboard the Jin Tian wood freighter. Nine sailors out of the 14 rescued are reportedly unconscious. Japanese medical autho
By Steve Yoon Director Park Chan Wook's mystery romance film "Decision to Leave" has been left out for this year's Academy Awards in the Best International Feature Film category. The Academy of Motion Picture Arts and Sciences(AMPAS) on Tuesday disclosed the final list of nominees for the 95th Academy Awards in ten categories. "Decision to Leave" was shortlisted in the best international fea
By Steve Yoon South Korea reproted 12,262 new cases COVID-19 cases on Tuesday, below 20,000 for the third consecutive day. According to the Korea Disease Control and Prevention Agency, 12, 262 infections were reported throughout Monday including 31 from overseas. It is because of fewer testing over the Lunar New Year holiday. It recorded a slight rise from 9,227 cases reported on the previous day
By Steve Yoon Chinese President Xi Jinping reportedly delivered a message to North Korean leader Kim Jong-un, thanking him for his condolence message following the death of former Chinese leader Jiang Zemin, the North's state medeia reported Sunday. The North Korean state Korean Central News Agency (KCNA) said that in the message, Xi wrote that on behalf of the party, government and people of Nor
By Steve Yoon Korean government has decided to lift the mask mandate for most indoor spaces from January 30. Prime Minister Han Duck-soo said Friday the government plans to lift the mandate for most indoor spaces from January 30, dropping its last remaining pandemic restriction as the daily caseload continues to decline. Earlier, the government had said the indoor masking restrictions will be down
By Steve Yoon South Korea on Thursday called in Iran's ambassador to Seoul to explain President Yoon Suk Yeol's recent public remarks describing the Islamic republic as the enemy of the United Arab Emirates (UAE). Yoon said South Korea and the UAE are under "very similar" circumstances, each facing North Korea and Iran as "the enemy, biggest threat" during a meeting with South Korean troops
By Steve Yoon Taiwan's Food and Drug Administration (FDA) has rejected over 1100 kg of contaminated Nongshim 'Shin Ramyun,' instant noodles from South Korea. According to Taiwan media, a batch of 1,000 boxes of Nongshim Shin Ramyun Black Bowl (Tofu Kimchi) imported from South Korea weighing a total of 1,128 kilograms was confiscated after sample testing on Dec. 9, 2022 detected 0.075 mg/kg of e
By Steve Yoon The National Intelligence Service(NIS) and police raided several locations on Wednesday, including the headquarters of the Korean Confederation of Trade Unions(KCTU) in Seoul, which is on suspicion of anti-communist law violations by some of its members. Investigators from the NIS and the National Police Agency (NPA) began their raid on KCTU in central Seoul about 10 a.m. They have r
By Steve Yoon President Yoon Suk Yeol said that the enemy of the United Arab Emirates and its biggest threat is Iran while South’s enemy is North Korea. Yoon visited the Akh Unit deployed to the UAE on Sunday and said that South Korea and the UAE are in a very similar situation as North Korea and Iran, respectively, are enemies. He also commented that the security of the UAE, which is our brothe