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News
(News Focus) Gov't to set aside 162 tln won in chip-boom tax 'windfall' for sustainable growth
18+ min ago (934+ words) SEOUL/SEJONG, Sept. 1 (Yonhap) -- The South Korean government on Tuesday unveiled details of the Future Fund, which it plans to launch next year to channel an unprecedented tax revenue windfall generated from the semiconductor boom into sustainable economic growth by…...
Labor ministry seeks over 38 tln won in 2027 budget
7+ min ago (198+ words) SEOUL, Sept. 1 (Yonhap) -- The labor ministry said Tuesday it seeks more than 38 trillion won (US$27.7 billion) for next year's budget to bolster support for youth employment. The Cabinet approved allocating 38.95 trillion won for the labor ministry in 2027, up 3.4 percent from…...
S. Korea to impose antidumping duties on Chinese butyl acrylate
2+ hour, 1+ min ago (165+ words) SEOUL, Sept. 1 (Yonhap) -- South Korea's finance ministry on Tuesday decided to impose antidumping duties on Chinese butyl acrylate after concluding that the imports had harmed the domestic industry. The Ministry of Finance and Economy said it will impose antidumping duties…...
Gov't to release record 183,000 tons of food products ahead of Chuseok
1+ hour, 11+ min ago (345+ words) SEOUL, Sept. 1 (Yonhap) -- South Korea will release a record 183,000 tons of key food products ahead of the Chuseok holiday later this month, the finance ministry said Tuesday, as part of its effort to stabilize consumer prices. The Ministry of Finance…...
Gov't proposes record 820.9 tln-won budget for 2027
58+ min ago (77+ words) en.yna.co.kr SEOUL, Sept. 1 (Yonhap) -- The budget minister on Tuesday proposed a record 820.9 trillion won (US$595 billion) budget for 2027. Budget Minister Park Hong-geun unveiled details of the proposal during a Cabinet meeting, with the amount marking a 12.8 percent…...
Samsung Electro-Mechanics wins 1.72 tln-won AI server capacitor supply deal in U.S.
1+ hour, 38+ min ago (148+ words) SEOUL, Sept. 1 (Yonhap) -- Samsung Electro-Mechanics Co. said Tuesday that it has signed a 1.72 trillion-won (US$1.25 billion) contract to supply multilayer ceramic capacitors (MLCCs) for artificial intelligence (AI) servers to a U.S.-based customer. The electronic components unit of Samsung Electronics Co....
Unionized workers at Hyundai Motor accept wage deal
4+ hour, 59+ min ago (186+ words) ULSAN, Sept. 1 (Yonhap) -- Unionized workers of Hyundai Motor Co., South Korea's largest automaker, have voted to accept a wage deal for this year, including a 100,000 won (US$73) increase in monthly base pay, the union said Tuesday. In a vote held…...
4 S. Korean defense companies listed among world's top 100 defense firms
5+ hour, 51+ min ago (156+ words) By Song Sang-ho and Park Sung-min WASHINGTON, Aug. 31 (Yonhap) -- Four major South Korean defense companies have ranked among the world's top 100 defense companies selected by a U.S. defense news outlet, a report showed Monday, as the Asian country seeks to bolster…...
S. Korea's biz lobby group chief calls for stronger economic ties with Japan
21+ hour ago (212+ words) SEOUL, Aug. 31 (Yonhap) -- The head of South Korea's major business lobby group on Monday stressed the need for closer economic cooperation with Japan, saying the two countries share many similarities and can serve as partners in expanding each other's markets....
Fair trade watchdog approves Hanwha's acquisition of additional KAI stakes
21+ hour, 31+ min ago (210+ words) SEJONG, Aug. 31 (Yonhap) -- South Korea's fair trade watchdog on Monday approved Hanwha Group's recent acquisition of additional stakes in Korea Aerospace Industries Ltd. (KAI). The Fair Trade Commission's (FTC) approval came after Hanwha Systems Co. recently purchased a 3.45 percent stake…...