South Korea's Second Vice Foreign Minister Kim Jin-a will visit the U.S. next week to discuss bilateral economic cooperation, the Ministry of Foreign Affairs said on Friday. During her visit from Sunday to Wednesday, Kim is scheduled to meet with U.S. Undersecretary of State for Economic Growth, Energy and the Environment Jacob Helberg next Monday to explore ways to strengthen supply chains and expand mutually beneficial economic ties. Kim will also attend an ec

South Korean car-sharing operator Socar reported record third-quarter revenue Friday as stronger vehicle utilization and improved operating efficiency lifted profits. Revenue rose 21 percent from a year earlier to 135.2 billion won ($101.2 million), while operating profit jumped 43 percent to 9.8 billion won. Net profit also surged 743 percent to 13.4 billion won. Revenue from the company’s core car-sharing business rose 16.8 percent year on year to a record 10

SK Biopharmaceuticals has launched its epilepsy drug cenobamate in Japan under the brand name "Xcopri," following its launches in China and South Korea, the pharmaceutical company said on Friday. Its Japanese partner, Ono Pharmaceutical, is now selling the drug in four doses for adults with partial-onset seizures. The launch follows regulatory approval in Japan in September. Approved in about 50 countries and regions, cenobamate is marketed directly by SK

Labor disputes are deepening at Samsung Biologics as its unionized workers continue their strike, which began last week, entering the second week of their partial walkout. The biopharmaceutical company said on Friday that about 500 workers are participating in the strike, which began on Nov. 6 and is scheduled to run through Nov. 27, but no production disruptions or business losses have been reported so far. Wage-related talks are scheduled to resume next Tuesday a

President Lee Jae Myung will hold a series of bilateral talks with Thai Prime Minister Anutin Charnvirakul and Philippine President Ferdinand Marcos Jr. next week on the sidelines of the Association of Southeast Asian Nations (ASEAN) summit in Manila, presidential spokesperson Kang Yu-jeong said in a written press briefing Friday. The meetings slated for next Monday are expected to focus on improving bilateral ties, expanding practical cooperation, and discussing re

South Korea's KOSDAQ rose 0.45 percent to 699.66 on Friday after reaching an intraday high of 725.81, giving up most of its earlier gains. Institutions bought 126.2 billion won ($94.6 million) worth of shares, while foreign investors sold 75.5 billion won and retail investors followed by selling 56.3 billion won worth of shares. Among the most actively traded stocks by volume, KBI Metal surged 26.58 percent to 4,620 won, Yellow Balloon climbed 15.09 percent to 3,585 won and Ecocap gained

South Korea's KOSPI fell 0.98 percent to 5,290.53 on Friday after touching an intraday high of 5,504.44, while Korea Electric Power Corp. plunged nearly 10 percent following disappointing third-quarter earnings. Foreign investors sold 550.5 billion won ($412.6 million), while retail investors bought 17.4 billion won and institutions followed with purchase of 2.1 billion won. Among the most actively traded stocks by volume, Samsung Electronics slipped 0.48 percent to 207,000 won, while Kum

Korea Aerospace Industries (KAI) has signed a series of memorandums of understanding (MOUs) with Indonesia's aerospace company PT Dirgantara Indonesia (PTDI) to expand cooperation, the state-run defense contractor said on Friday. The latest agreements cover local production of KF-21 structural components, joint simulator development and technical exchanges, as well as potential business opportunities in the civil aviation market including the development of a mi

Hanwha Aerospace has been selected as the preferred bidder for a 177.3 billion won (US$123 million) project to develop a homegrown 10,000-pound-class turbofan engine for a low-observable reconnaissance drone, the company said on Friday. Led by the Agency for Defense Development (ADD) and backed by the Defense Acquisition Program Administration (DAPA), the project will run through October 2031 and aims to secure key technologies for advanced aircraft engines. Hanwha

HiteJinro’s third-quarter operating profit rose 6.2 percent from a year earlier to 57.7 billion won ($43.3 million), even as sales of both its soju and beer fell, the South Korean liquor maker said Friday. Revenue dropped 5.5 percent to 632.4 billion won. Soju, its largest business, saw sales fall 3.5 percent to 367.5 billion won, but operating profit in the segment climbed 7 percent to 45 billion won. Beer sales slid 9.7 percent to 204.4 billion won, while b