South Korean refiners said Monday they are closely monitoring potential fallout from drone strikes on Saudi Arabia's crude processing facilities at the weekend that have rattled the global oil industry.Saudi Arabia shut down about half of its oil production Saturday following a series of drone a

SK Innovation Co. of South Korea has been picked to supply a battery pack for Ferrari's first plug-in hybrid electric vehicle (PHEV), industry sources said Sunday.After two years of tests of various products, the Italian luxury sports carmaker has chosen SK Innovation as the supplier of the lith

South Korea is moving to strip Japan from its list of trusted trading partners as early as this week, but it is still open to having last-minute negotiations with Tokyo, the trade ministry said Sunday.Seoul's trade ministry has completed nearly all procedures for the removal of Japan from its li

South Korea's homegrown hedge funds continued to soak up money while viable investment vehicles remain few in number, data showed on Saturday.Hedge funds here pulled in 600 billion won (US$509 million) over the past month, with their assets under management reaching 34.9 trillion won at the end

South Korea's stock exchange will introduce an electronic securities system next week, under which all listed stocks and bonds do not exist in paper form, according to the country's financial regulator.Under the new system, which will go into effect Monday, securities certificates of listed

South Korean bulk carriers are likely to see improved earnings in the third quarter of the year on the back of strong freight rates, analysts here said Saturday. The Baltic Dry Index (BDI), a measure of freight for commodities, last week topped 2,500 points, the highest since 2010, ac

Japan has spurned South Korea's request to hold talks to work out differences for the renewal of their fisheries agreement, a South Korean official said Friday.South Korea sent a letter to Japan in May calling for working-level talks. Last month, Japan replied to South Korea, though it did not m

South Korean beer exports to China shot up nearly four-fold in the last three years, data from a state-run trade promotion agency showed Friday.According to the Korea Trade-Investment Promotion Agency (KOTRA), beer shipments to China reached US$91 million in 2018, up 83 percent from $50 million the

South Korean imports of Japanese beer nose-dived this month due to a boycott of products from the Asian neighbor here amid a bilateral trade dispute, data showed Thursday.The combined imports of Japanese beer over the first 10 days of this month fell a whopping 99.9 percent from a year earlier, acco

South Korea's jobless rate hit a six-year low in August, and job additions increased the most in 29 months, government data showed Wednesday.The unemployment rate fell 1 percentage point on-year to 3 percent in August from a year earlier, also marking the lowest level for any August since 2013.

Samsung Electronics Co. and SK Telecom Co. have agreed to develop 8K televisions based on 5G networks to diversify content available on the top-end resolution TVs, they said Sunday.8K TVs offer four times the number of pixels as 4K screens, and 5G is the ultra-fast wireless network that rolled out i

South Korea on Thursday called for international cooperation to respond to a possible move by Japan to discharge contaminated water from its crippled Fukushima power plant into the Pacific Ocean.In a press conference held in Seoul, Choi Won-ho, the head of the Ministry of Science and ICT's big s

South Korea plans a record budget spending next year to help boost the country's exports, which have been lackluster for months in the face of growing trade frictions, such as that between the United States and China, the trade ministry said Friday. The budget of 1.07 trillion won (US$89

South Korea's current account surplus grew for a third consecutive month to a nine-month high in July on an increased trade surplus and a narrowing deficit in the service sector, central bank data showed Thursday. The country's current account surplus came to US$6.95 billion in the month, th

Daewoo Engineering & Construction Co., is the No. 5 builder in South Korea in terms of building capacity, said on Sept.2 that it has won a US$70.35 million order to build entrance roads in Al Faw, for a new port in Iraq.Under the deal with the General Company for Ports of Iraq (GCPI), Daewoo E&C wil

South Korea's foreign currency reserves slightly dwindled from a month earlier in August largely due to the strengthening of the U.S. dollar, which led to a dip in the dollar value of other foreign currencies held by the country, the central bank said Wednesday.The country's foreign currency

South Korea's economy grew at a slower-than-expected pace in the second quarter from three months earlier on sluggish exports and government spending, the central bank said Tuesday.The country's gross domestic product (GDP) expanded 1 percent in the April-June period, rebounding from a 0.4 p

Banks in South Korea saw their financial health deteriorate slightly in the second quarter of this year as tighter credit-risk rules prompted them to set aside more capital for derivatives, data showed Monday.Under the Basel Committee's so-called standardized approach for measuring counterparty

South Korea is expected to put into effect its decision to drop Japan from a list of trusted trading partners later this month, Seoul's trade ministry said Sunday, amid a growing trade row between the two Asian neighbors.Early this month, the Seoul government decided to revamp the categorization

A sharp drop in prices of key raw materials, such as iron ore, is posing a quandary for South Korean steelmakers who are eager to raise prices of their steel products for the second half of the year, industry observers said Saturday.According to data from Korea Resources Corporation, the price of ir