Page 16 - South Korea

South Korea unfreezes $30 mn Iranian funds for medicines, vaccines purchase

South Korea has released a small portion of Iranian funds in its banks for its purchase of medicine and vaccine, a senior businessman said in Tehran

Nokia joins LG Uplus to install indoor 5G equipment in South Korea

Nokia, a Finnish telecom equipment giant, said on Monday it has signed an agreement with South Korean mobile carrier LG Uplus to install its next-generation indoor 5G equipment in the country

South Korean steelmaker to end partnership with Myanmar military

A South Korean steelmaker on Friday said it plans to end a joint venture with a military-controlled firm in Myanmar following criticism that its business has benefited military leaders who have violently suppressed pro-democracy protests there. POSCO Coated & Color Steel said it has decided to discontinue its partnership with Myanmar Economic Holdings Public Company Limited, which is about 40 per cent owned by Myanmar's Defense Ministry. However, the South Korean company said it would not pull out of Myanmar. POSCO C&C owns 70 per cent of its joint venture with MEHL, Myanmar POSCO C&C. Min Ji-hyun, an official from POSCO C&C, said the company has informed MEHL it wants to buy the Myanmar firm's 30 per cent stake so that it can continue operating the venture with full ownership. MEHL has yet to respond to POSCO C&C's offer, Min said. Min said he couldn't provide detailed estimates on how much the deal would cost POSCO C&C, saying that would depend on when it ...

Semiconductor shortage: Hyundai to suspend key car plant in South Korea

Hyundai Motor said on Friday that it will again suspend the Sonata-producing plant in South Korea for two days next week due to an electronic parts shortage.

South Korea to set global standards for electric vehicles wireless charging

South Korea said on Thursday it will ramp up efforts to promote a homegrown charging technology for EVs as an international standard, as the country plans to penetrate deeper into the growing sector

South Korea regrets Japan's decision on dumping radioactive water into sea

South Korea expressed strong regret on Tuesday over Japan's decision to dump radioactive wastewater from the crippled Fukushima Daiichi nuclear power plant into the Pacific Ocean

LG, SK reach $1.8-billion settlement to end electric-vehicle battery spat

SK Innovation agreed to pay 2 trillion won ($1.8 billion) to LG Energy Solution, a unit of LG Chem, according to a statement from the two companies

S Korean battery makers agree $1.8 bn settlement, aiding Biden's EV push

South Korean battery makers agree $1.8 bn settlement, aiding Biden's EV push

South Korean tanker held by Iran over money dispute now on the move

A South Korean oil tanker held for months by Iran amid a dispute over billions of dollars held in Seoul was leaving Iran early Friday

Dr. Shailesh Thaker, a Prescient Thinker Enlightens World and Society Manifests as a Guru

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China's mega-refineries throttling other Asia oil processors amid pandemic

A frenzy of refinery building in China is set to make the nation the world's largest crude processor this year

Rajnath, visiting Korean minister inaugurate Indo-Korean friendship park

An Indo-Korean friendship park was jointly inaugurated on Friday by Defence Minister Rajnath Singh and Minister of National Defence of South Korea Suh Wook at Delhi cantonment

North Korea fired two unidentified projectiles into sea: South Korea

South Korea's military said North Korea fired two unidentified projectiles into its eastern waters on Thursday as it revives its testing activity to expand its military capabilities

Samsung Electronics warns of severe chip crunch while delaying key phone

Samsung, one of the world's largest makers of chips and consumer electronics, expects the crunch to pose a problem to its business next quarter

North criticises US-South Korean military drills before allies meet

In North Korea's first comments directed at the Biden admin, Kim Jong Un's sister criticised the US and South Korea for holding military exercises and warned the US against further provocations

US accused of blocking South Korea from unfreezing Iranian assets

Javad Zarif accused the US of following former President Donald Trump's "failed policy" on Iran, after American officials stated unwillingness to authorise South Korea to unfreeze Iranian assets

SoftBank-backed e-commerce firm Coupang raises $4.2 bn in US IPO: Report

The IPO price of $35 apiece, higher than the marketing range $32-$34 per share, gives Seoul-headquartered Coupang, which is backed by Japan's SoftBank Group Corp, a market value of $60 billion

South Korea economy shrank in 2020 for first time in over two decades

South Korea's central bank says the country's economy shrank for the first time in 22 years in 2020 as the coronavirus pandemic destroyed service industry jobs and depressed consumer spending

ISSF World Cup in Korea postponed due to mandatory hard quarantine

The ISSF World Cup in Changwon, Korea, scheduled to be staged from April 16 to 27, has been postponed owing to restrictions imposed to stem the spread of the COVID-19 pandemic

South Korea mulling to extend social distancing norms for two weeks

Bans on gatherings of five or more people and restrictions on small businesses, such as restaurants and cafes, will also remain in place for another two weeks, Chung said