Two Taiwanese display makers have been ordered to pay a combined 32.8 billion won ($25.1 million) in damages to LG Electronics Inc. for fixing the prices of LCD panels, sources said Monday. The Seoul Central District Court recently delivered the ruling in a compensation suit filed by LG and six of its overseas branches in January 2014 against AUO Corp. and HannStar Display Corp., both based in Taiwan. AUO, formerly AU Optronics Corp., and nine other LCD manufacturers and distributors were accuse

Companies Nov. 27, 2023

President Yoon Suk Yeol's approval rating increased for two consecutive weeks to 38.1 percent, according to a poll released Monday. The survey, conducted by the polling agency Realmeter, showed that the positive assessment of Yoon's performance went up by 2.5 percentage points from the previous week, while 58.9 percent of respondents disapproved of his performance, down 3.1 percentage points. Yoon's approval rating, which had previously lingered in the mid-30 percent range since t

Politics Nov. 27, 2023

South Korea is set to attend an international cyberdefense exercise led by the North Atlantic Treaty Organization for the first time to enhance collaboration with NATO in the cyberspace domain, the defense ministry said Monday. NATO's flagship annual cyber exercise, called Cyber Coalition 2023, takes place in Estonia from Monday to Friday, involving 35 NATO members and partners as well as the European Union to strengthen their joint ability to counter threats in the cyber domain. South Kore

Defense Nov. 27, 2023

South Korea will double the maximum limit of purchases eligible for an immediate tax refund by foreign tourists to 5 million won ($3,831) next year to attract overseas visitors and bolster the tourism industry, the finance ministry said Monday. Currently, the country provides on-the-spot tax refunds for an individual purchase of up to 500,000 won at designated stores, with a maximum cap being set at 2.5 million won on total payments. "Starting Jan. 1, 2024, the maximum per-payment amount fo

Economy Nov. 27, 2023

North Korea claimed Monday that South Korea has breached a 2018 inter-Korean military accord and other key agreements between the two Koreas, condemning joint military drills between Seoul and Washington as a provocative act that violates the military accord. The condemnation came as North Korea vowed last week to resume all military measures halted under the 2018 deal and deploy new weapons to the border in response to Seoul's partial suspension of the military tension reduction accord ove

North Korea Nov. 27, 2023

The weak economic momentum, along with the hope for the Federal Reserve's rate freeze next month and moderating inflation, may prod South Korea's central bank to keep its policy rate unchanged again this week. But the Bank of Korea is likely to say that it will keep its restrictive monetary policy stance amid still high inflation and soaring household debts. On Thursday, the BOK is widely predicted to leave the rate, which currently stands at 3.5 percent, unchanged, which would be the seventh st

Economy Nov. 27, 2023

North Korean leader Kim Jong-un cast his ballot in local elections held over the weekend to pick new deputies for local assemblies of provinces, cities and counties across the nation, state media reported Monday, with voter turnout recorded at almost 100 percent. Kim visited a polling station set up in South Hamgyong Province on Sunday and voted for candidates who ran in the elections in the region, according to the official Korean Central News Agency. North Korea's local elections are held

North Korea Nov. 27, 2023

Seoul shares opened higher Monday amid decreased volatility on Wall Street. The benchmark Korea Composite Stock Price Index rose 4.77 points, or 0.19 percent, to 2,501.40 in the first 15 minutes of trading. On Friday, US stocks closed mixed, with the Dow Jones Industrial Average up 0.33 percent and the tech-heavy NASDAQ down 0.11 percent. The volatility index, Wall Street's fear gauge, hit the lowest since January 2020 at 12.46 as market participants expected the Federal Reserve is near the

Market Nov. 27, 2023

Terry Venables, the former manager of England's national soccer team and clubs including Tottenham Hotspur and Barcelona, has died aged 80 after an illness, his family said on Sunday. "We are totally devastated by the loss of a wonderful husband and father who passed away peacefully yesterday after a long illness," the family said in a statement. (Reuters)

Soccer Nov. 26, 2023

China's health ministry on Sunday urged local authorities to increase the number of fever clinics as the country grapples with a surge in respiratory illnesses in its first full winter since easing COVID-19 restrictions. The spike become a global issue last week when the World Health Organization asked China for more information, citing a report on clusters of undiagnosed pneumonia in children by the Program for Monitoring Emerging Diseases. China and the WHO have faced questions about the

World News Nov. 26, 2023

Holiday shoppers in the U.S. are seeking out the best deals and strategically nabbing the deepest discounts ahead of Cyber Monday, according to data from retailer websites aggregated by third parties. Cyber Monday, as the first Monday after the Thanksgiving holiday has become known as merchants step up online promotions, is set to be the biggest online shopping day of the year in the United States. Strong online traffic on Black Friday demonstrated a notable pattern of shoppers putting time and

World Business Nov. 26, 2023

South Korea, the United States and Japan jointly conducted naval drills in waters south of the Korean Peninsula on Sunday to bolster their defense posture against North Korea's evolving nuclear and missile threats, the South's Navy said. The joint exercise took place in southeastern waters off Jeju Island involving the U.S. nuclear-powered aircraft carrier USS Carl Vinson, which has been docked at a naval base in Busan, 320 kilometers southeast of Seoul. The South Korean Navy's Ae

Defense Nov. 26, 2023

The monthly average of Chinese travelers visiting South Korea remained far below pre-pandemic levels, despite China's reopening from COVID-19 restrictions and resumption of group tours, data showed Sunday. Around 144,000 Chinese nationals visited South Korea per month on average this year, according to the data released by the Hyundai Research Institute. The tally was about one-third of the monthly average of 416,000 recorded from 2017 to 2019, when the Chinese government had banned group t

Social Affairs Nov. 26, 2023

In a dramatic turn of events on the final day of the regular season, Gimcheon Sangmu FC earned a direct promotion to the top division in South Korean football on Sunday. Gimcheon defeated Seoul E-Land FC 1-0 to finish atop the K League 2 tables with 71 points and secure a spot in the top-flight K League 1 for 2024. Kim Hyeon-ug's 37th-minute goal stood as the winner. Gimcheon, a military club made up of players fulfilling their mandatory service duties, were relegated after the 2022 season

Soccer Nov. 26, 2023

South Korea's manufacturing confidence rose for the first time in four months in December, thanks to solid signs of recovery in global demand for semiconductors, a poll showed Sunday. The professional survey index for the manufacturing sector's business conditions came to 100 for next month, up from 97 for this month, according to the Korea Institute for Industrial Economics & Trade. A PSI reading above 100 means optimists outnumber pessimists. The survey was conducted earlier this

Economy Nov. 26, 2023