Hyundai Steel offers voluntary layoffs amid industry downturn

Hyundai Steel, South Korea’s second-largest steelmaker, is accepting voluntary layoffs from technical workers amid industry challenges and uncertainties over Trump’s second term. According to industry sources Wednesday, Hyundai Steel is accepting resignation applications from technical staff at its Pohang plant in North Gyeongsang Province until March 14, with all 1,200 eligible workers subject to the program. It remains unclear how many employees will opt in, particularly given that Hyundai Ste

March 5, 2025

MBK Partners under fire as Homeplus seeks rehabilitation support

The Seoul Bankruptcy Court announced Tuesday that it had approved the corporate rehabilitation request filed by South Korean supermarket chain Homeplus, initiating prompt proceedings just 11 hours after the filing. On Tuesday morning, Homeplus announced that it had filed for corporate rehabilitation as a preemptive measure to address potential funding issues following its recent credit rating downgrade. The court’s decision to approve the proceedings was based on the assessment that a funding sh

March 4, 2025

Beyond tariffs: Posco fuels Korea's LNG ambitions with high-manganese steel

With its high-performance steel, Posco is building the backbone of Korea’s LNG infrastructure, from storage tanks to fuel-powered vessels. GWANGYANG, South Jeolla Province — Caught in the crosshairs of protectionism, South Korean steel giant Posco faces the heat of US President Donald Trump’s 25 percent steel tariffs, which are set to go into effect March 12. But Posco’s is still forging new paths at Gwangyang Steelworks, where it is making its patented high-manganese steel, an alloy built to wi

March 3, 2025

Visually impaired lawmaker had tried to scale walls on martial law day

Kim Yea-ji, South Korea’s first visually impaired lawmaker and a member of the ruling People Power Party, is in the spotlight as one of the only three from her party to participate in the parliamentary vote to impeach President Yoon Suk Yeol on Saturday. The National Assembly’s motion failed due to a failure to meet the quorum after lawmakers from the ruling People Power Party boycotted the vote. It resurfaced Sunday that Kim sought to enter the parliament building immediately afte

Dec. 8, 2024

US calls for 'full, proper' functioning of democratic processes in South Korea

The United States called for "full and proper" functioning of democratic processes in South Korea, after the country’s parliament on Saturday failed to vote on the impeachment of President Yoon Suk Yeol over his recent declaration of martial law. Officials from the White House, as cited by Yonhap News Agency, said Washington had closely monitored the Korean National Assembly's opposition-led motion to impeach Yoon, as well as the developments following its failure to get two

Dec. 8, 2024

[Weekender] Anxious, avoidant or somewhere in between? Koreans tap into attachment theory to hack love

Is the Myers-Briggs personality test still the go-to for dating compatibility? If you ask young Koreans, some say, "Not anymore." The trend is shifting, and they’ve found a better playbook. The playbook, in the language of attachment theory, reads: Avoidant types often ghost, anxious types tend to cling. Secure types strike a balance. As a fresh approach to understanding emotional patterns in relationships, the theory has gained popularity in contemporary dating, especially in

Dec. 7, 2024

Parents of soldiers spend sleepless night worrying about sons

The declaration of martial law late Tuesday placed all military forces on emergency stand-by, with some special units mobilized to enforce the decree. Korean parents with sons serving on active military duty endured a sleepless night too, overwhelmed with worry about what their children might be experiencing amid the chaos. In an online community of Korean soldiers' parents on Naver, which has around 150,000 members, parents voiced their worries throughout the night, uncertain about what

Dec. 4, 2024

Convenience stores see uptick in sales following martial law declaration

South Korea’s 24-hour convenience stores saw an uptick in sales of essential items during the initial hours of shock following the martial law declaration Tuesday night, local reports said. According to Yonhap News Agency, citing local industry sources, during the one-hour period from 11:00 p.m. Tuesday, when martial law took effect, sales of daily necessities skyrocketed compared to regular days. One convenience store chain, whose name was not disclosed, reported the highest uptick in c

Dec. 4, 2024

Social media takes center stage in tense hours of martial law in South Korea

In the tense first hours of martial law in South Korea, social media emerged as a lifeline for defiance, with politicians, journalists and ordinary citizens using it to document and disseminate real-time developments. On YouTube, X and Instagram, short clips and videos flowed from the scene as the unexpected event unfolded in the middle of the night. Main opposition leader Lee Jae-myung, who had rallied his party’s lawmakers to the Assembly, began livestreaming on his YouTube channel at

Dec. 4, 2024

'Is this happening in 2024?' South Koreans in panic, disbelief

South Korean President Yoon Suk Yeol declared emergency martial law Tuesday night, sending shock waves through the nation. Made near at 10:25 p.m., the announcement has left citizens and experts alike scrambling to understand its implications. According to South Korea’s Constitution and the Martial Law Act, emergency martial law can be declared during wartime, in cases of a major national emergency akin to war, or when public order is severely disrupted, rendering administrative and judici

Dec. 3, 2024