OCI Energy to supply solar power to San Antonio for 20 years

OCI Energy, a US-based subsidiary of Korean chemical and battery manufacturer OCI Group, will supply solar power to the San Antonio region of the US state of Texas for 20 years, OCI Holdings, the company's holding unit, announced on Wednesday. OCI Energy signed the contract for a long-term energy storage project called “Alamo City ESS LLC” with US local energy grid operator CPS Energy on Friday in San Antonio. The signing event was attended by officials from both sides, includin

IndustryDec. 11, 2024

Hue for the year ahead? It's Mocha Mousse

The Pantone Color Institute, which has declared a Color of the Year since 2000, has chosen "Mocha Mousse" for 2025 -- a shade that evokes a sense of comfort and warmth. The institute explained that the hue for the year ahead is "an evocative soft brown that transports our senses into the pleasure and deliciousness it inspires" that could create a comfortable environment for those wanting respite from life's daily demands. The Pantone Color Institute is a US-based consu

CultureDec. 11, 2024

Lee Seung-hwan to perform Friday at pro-impeachment rally in Seoul

Singer Lee Seung-hwan and his band will perform near the National Assembly in Yeouido, Seoul, on Friday, during a rally demanding the impeachment of President Yoon Suk Yeol, the artist announced Tuesday. Lee, via Instagram, shared his setlist, featuring his hit songs "Dunk Shoot," "As Much as the Love Spread in the World," "God of Money," "Do You Love," "I Ask" and "Superhero." Lyrics for some of the songs will be adjusted to suit the o

Social AffairsDec. 11, 2024

Another ruling party lawmaker withdraws opposition

Rep. Kim Jae-sub of the People Power Party announced Wednesday that he will vote in favor of President Yoon Suk-Yeol’s impeachment in a press conference at the National Assembly. Kim told the reporters that he abstained from voting last week, feeling that the president deserved more time to make a decision. “The resignation needs order and time. But the president is refusing to leave," he said, noting reports that Yoon may argue the legality of declaring martial law. Criticizing

PoliticsDec. 11, 2024

Korea, US biz leaders call for easing trade barriers

Business leaders from South Korea and the United States have urged their governments to address persistent trade barriers and discriminatory policies, emphasizing the urgency of these issues as the incoming Trump administration brings fresh uncertainties in global economic and trade dynamics. The demands were outlined in a joint declaration adopted Tuesday at the 35th Korea-US Business Council meeting in Washington, organized by the Federation of Korean Industries and the US Chamber of Commerce.

IndustryDec. 11, 2024

[From the Scene] Seoul Library hosts vibrant festival to celebrate Han Kang’s win

On Tuesday afternoon, the typically tranquil atmosphere of the Seoul Metropolitan Library was transformed into an exuberant celebration. The library’s quiet reading rooms came alive with jazz music and animated discussions as bibliophiles gathered for the Novel Literature Festival Seoul 2024 in honor of author Han Kang. The festival, organized by the Seoul Metropolitan Government and the Korean Publishers Association, was a joyous celebration of Han Kang, who made history as the first Sout

Social AffairsDec. 11, 2024

Seoul mayor assures 'Seoul is safe'

Amid growing concerns over escalating political and social turmoil following President Yoon Suk Yeol's brief declaration of emergency martial law last week, Seoul Mayor Oh Se-hoon said Wednesday that "Seoul is safe" and urged tourists to return, vowing to undertake efforts to ensure the safety of travelers. In a meeting held by Oh at Seoul City Hall, the mayor spoke with key stakeholders in the tourism sector, including representatives from the Seoul Tourism Organization, Korea As

Social AffairsDec. 11, 2024

North Korea reports on South Korea’s martial law turmoil for first time

North Korean media reported last week’s botched declaration of martial law in South Korea for the first time, breaking its silence on the fiasco, as well as on President Yoon Suk Yeol’s possible impeachment and rallies by South Korean protestors in Yeouido, western Seoul on Dec. 7. The Korean Central News Agency, an overseas-oriented media outlet in North Korea, reported on Wednesday that the “puppet” regime of South Korea experienced a serious governance crisis after Y

North KoreaDec. 11, 2024

Mirae Asset hits W200tr in global ETF assets

Mirae Asset Global Investments announced Wednesday that its total global exchange-traded fund net assets have exceeded 200 trillion won ($139 billion). Mirae Asset currently manages 624 ETF products across 13 countries, including Korea, the US, Canada, Australia and Japan. In just three years, after surpassing 100 trillion won in 2021, its ETF net assets have doubled to 202 trillion won, placing the company 12th among global ETF operators. Mirae Asset was the first Korean asset manager to list E

IndustryDec. 11, 2024

[Newsmaker] Ex-intel commander appears key to alleged martial law plan

Three-star Army general Yeo In-hyung, former chief of the Defense Counterintelligence Command, is facing growing scrutiny over allegations he played a key role in facilitating the recent martial law declaration. Yeo has denied the accusations, claiming the DCC was unaware of the plans. However, emerging testimony and evidence cast doubt on Yeo’s claims, raising questions about his involvement in President Yoon Suk Yeol's controversial martial law declaration. Contradicting stories I

PoliticsDec. 11, 2024

Ex-defense minister attempts suicide in custody

Former Defense Minister Kim Yong-hyun, who is currently being detained at a facility in Seoul on alleged collusion with President Yoon Suk Yeol in imposing martial law last week, attempted to take his own life late Tuesday night, a correctional official said Wednesday. Shin Yong-hae, commissioner general of the Korea Correctional Service under the Justice Ministry, said Kim was discovered during the attempt. “At approximately 11:52 p.m. an officer discovered Kim attempting suicide in the r

Social AffairsDec. 11, 2024

S-Oil honors coast guard officers for life-saving efforts

Korean oil refiner S-Oil on Tuesday honored eight members of the Korea Coast Guard for their life-saving efforts with awards totaling 90 million won ($62,800). The annual 2024 Hero Maritime Officers awards ceremony was held Monday at a Seoul hotel, with S-Oil CEO Anwar al-Hejazi, Korea National Council on Social Welfare Chairman Kim Seong-yee and Korea Coast Guard Commissioner General Kim Jong-wook in attendance. Han Seung-man, a senior police officer of the Gunsan Coast Guard Station in Gunsan

IndustryDec. 11, 2024

[Photo News] More accolades

Hyundai Motor announced Wednesday that the Ioniq 5N, the automaker's award-winning high-performance all-electric vehicle, has been selected as performance car of the year in the 2025 China Car of the Year Awards held at Crowne Plaza Beijing Lido. Hyundai Motor said that the Ioniq 5N's latest honor highlights the brand's competitiveness in China, which is one of the fastest EV-transitioning markets in the world. Based on its outstanding motor power, the Ioniq 5N also was recognized

MobilityDec. 11, 2024

Shame on presidential couple: Yoon and his wife decried by alma maters

Students at President Yoon Suk Yeol and his wife Kim Keon Hee's former schools have jointed in the nationwide condemnation of what is being seen as the president's act of insurgence via declaration of martial law on Dec. 3. The student council of Chungam High School said in an official statement that the government declaring martial law was a wrongful action that plunged the nation into chaos. Yoon, commander of the Defense Counterintelligence Command Yeo In-hyung, then-Defense Ministe

Social AffairsDec. 11, 2024

Capsized fishing boat plunges underwater while being towed

A fishing boat in a recent maritime accident that left seven dead and one missing appears to have sunk into deep sea, the Coast Guard said Wednesday, after a rope that connected it to a tugboat snapped the previous day. According to the Coast Guard, the 29-ton boat was being pulled by a 190-ton tug vessel when the rope snapped at around 7:06 p.m. Tuesday. Officials searched for the lost vessel for three hours to no avail, and now believe that the boat may have sunk to about 1,000 meters below th

Social AffairsDec. 11, 2024

LS Eco Energy posts record Q3 earnings on upbeat exports, telecom growth

LS Eco Energy, a subsidiary of LS Cable & System, said Tuesday it posted record-high revenue in the third quarter, driven by strong export performance in its power and telecommunications businesses. The company reported revenue of 223.4 billion won ($156 million) for the July-September period, up 33 percent from a year earlier. Operating profit rose 14 percent to 12.5 billion won, while net profit surged 227 percent to 8.4 billion won, fueled by strong sales in North America and Europe. Dema

IndustryDec. 11, 2024

Kolmar Korea named one of world's best companies by Time magazine

Kolmar Korea announced Wednesday that it has been named one of the World's Best Companies in Sustainable Growth 2025 by US weekly magazine Time. Ranking 125th among 500 global firms, it is the only Korean cosmetics company on the list. The rankings, compiled by German market research firm Statista, evaluated 70 million companies across 150 countries based on revenue growth, financial stability and environmental impact on a 100-point scale. Kolmar Korea scored 81.44 points, placing in the t

IndustryDec. 11, 2024

K-pop glow sticks light up online secondhand market

The aftermath of the Dec. 3 martial law turmoil is felt even on the secondhand marketplaces of platforms like Karrot and Joonggonara. Items such as K-pop light sticks and Yoon Suk Yeol commemorative wristwatches —labeled with new meanings amid recent protests and shifting public sentiment toward the president — have seen contrasting fates in these digital marketplaces. Demand for K-pop light sticks has surged as they have emerged as a symbol of protest. Their limited production &mdas

Social AffairsDec. 11, 2024

Elderly farmer anonymously donates savings to help others

An elderly woman recently donated 3 million won ($2,000) to the local government of Chungju, North Chungcheong Province, on the condition of anonymity, saying she earned the money while working as a farmer. The mystery woman, who appeared to be in her late 70s or early 80s, entered Chungju City Hall at around 2 p.m. on Dec. 6. She said she wanted to donate money, handing officials a white envelope containing 3 million won in cash. "I want to make a donation, thinking about all the help I&

Social AffairsDec. 11, 2024

Political turmoil to have only limited impact on exports: trade minister

Trade Minister Cheong In-kyo on Wednesday insisted the recent political situation in South Korea will likely have only a limited impact on exports, stressing that the government will work to address both internal and external uncertainties. Cheong made the remark during an emergency meeting with trade-related organizations to address market concerns sparked by President Yoon Suk Yeol's short-lived martial law declaration last week, according to the Ministry of Trade, Industry and Energy. &q

EconomyDec. 11, 2024