Actors and musicians have come together for a relay performance to bid a heartfelt farewell to the Hakchon Theater, an iconic venue for Korean performing arts in Seoul's Daehangno district. Established in March 1991, the Hakchon Theater will close its doors on March 15, its 33rd anniversary, due to chronic financial difficulties and CEO Kim Min-gi's health issues. Upon hearing the news, singer Park Hak-ki gathered fellow artists and created the "Hakchon Again'' project -

South Korea has reached a point where accepting more immigrants under a solid policy is no longer a choice, but a necessity because the country could face extinction without it, the justice minister said Wednesday. “We have already surpassed the phase of contemplating whether or not to adopt immigration policies,” Justice Minister Han Dong-hoon said during a ruling party policy meeting held at the National Assembly. “Korea faces the fate of becoming extinct due to a population

A 41-year-old woman accused of coercing a close co-worker into prostitution over the course of three years has been sentenced to 13 years in prison by an appellate court on Wednesday, after a lower court sentenced her to 10 years. The defendant, who worked with the victim between October 2019 to September 2022, has been accused of forcing 2,500 accounts of prostitution on the victim, and pocketing the 500 million won ($380,000) profit made from the illegal acts. The police's investigation f

Nearly half of the youth population residing in Seoul now lives in poverty, with many seeking financial support from their parents, according to a new study released by the Seoul Metropolitan Government and Seoul Institute on Wednesday. According to the 2022 Seoul Young Adult Panel Study, 55.6 percent of the youth population in Seoul faced asset poverty, meaning that they lack sufficient liquid assets to cover their basic needs for three months. In particular, the asset poverty rate for the yout

Rookie boy band Riize is set to release a new single on Jan. 5, according to a local media report on Wednesday. Label SM Entertainment confirmed the news following the report. The band’s latest release was the digital single “Talk Saxy” that was released in October and topped the iTunes top songs chart in seven regions. Riize debuted in September with the single album “Get A Guitar” that sold over a million copies in the first week, and topped Oricon’s daily

Mirae Asset Securities, Korea’s largest investment bank and securities firm, said Wednesday that it has appointed Vice Chairman Heo Sun-ho as CEO. He will lead the company’s sprawling business together with Vice Chairman Kim Mi-seob, whose appointment was confirmed earlier in October. With Heo’s appointment, which was approved at a board of directors meeting earlier on the day, the company has completed a generational shift in its long-held dual leadership system. Heo will co

Members of major conglomerate owner families generally become executives in their mid-30s, and assume leadership roles sometime in their early 40s, a report released Wednesday by a local corporate tracker showed. Leaders Index analyzed the careers of 199 members of owner families running South Korea's 100 leading conglomerates, who are either the chairman or vice chairman of their group, or a president of an affiliate company. In total, there are 827 members of owner families currently work

Four South Korean dramas have been nominated at the 29th Annual Critics Choice Awards, which is slated to be held in Los Angeles on Jan. 14. Of the seven nominations for the best foreign language series, four are Korean dramas -- Korean streaming service Tving's original series “Bargain,” Netflix's original series "The Glory" and "Mask Girl" and Disney+'s original series "Moving" -- according to the Critics Choice Association on Tuesday.

GC Biopharma, GC Group’s biopharmaceutical unit, announced Wednesday that the company held a groundbreaking ceremony for its first Indonesian plasma fractionation plant within an industrial complex near the country's capital of Jakarta. The event comes six months after the company received approval from the Indonesian government to join the construction project, a trilateral partnership with the Indonesian Red Cross and P.T Triman, a local drugmaker. Under the partnership, GC Biopharm

A 2021 court ruling that had ordered the South Korean government and two civil servants to compensate for the fabricated asylum interview of an Egyptian human rights activist was overturned recently, as an appellate court acknowledged unlawful acts in the process but did not hold the two civil servants responsible for compensating the victim financially. According to local media outlet The Hankyoreh on Wednesday, the appellate division of the Seoul Central District Court has ruled against Darwis

“Something unthinkable has become a reality. It feels like a lifetime achievement to some degree,” said Korean composer Chin Un-suk of the Berlin Philharmonic album dedicated to her music. Titled “The Unsuk Chin Edition,” the album released last month contains six works Chin performed by the world’s top orchestra between 2005 and 2022. It is a rare album of a living composer and only the second time after the philharmonic released, in 2017, an album of John Adams, w

Artist Kim Bo-seong, who has found inspiration in the Korean alphabet, Hangeul, for his art, rolled up his sleeves to herald Korean consonants and vowels in Europe through his art created using virtual reality technology. Kim kicked off the project in April while traveling to Spain and Portugal, presenting his works through virtual reality, which he continues until Tuesday next week. Each consonant and vowel is a source of artistic inspiration for Kim. who has explored Hangeul for more than 35 y

South Korean stocks closed nearly flat Wednesday as major shares ended in mixed territory. The local currency lost ground against the US dollar. Swinging between gains and losses, the benchmark Korea Composite Stock Price Index added 1.1 points, or 0.04 percent, to close at 2,495.38. Trade volume was slim at 384.3 million shares worth 7.51 trillion won ($5.71 billion), with winners outnumbering losers 499 to 371. Institutions scooped up a net 240.5 billion won worth of shares, while individual a

Korea is in the middle of blame-shifting, as banks face more than 3 trillion won ($2.28 billion) in losses combined in the first half of next year from the sales of equity-linked securities tied to a Hong Kong index. Financial authorities are considering creating guidelines for compensation regarding the sales of ELS products tracking the Hang Seng China Enterprises Index, seeing the possibility of banks’ misselling. The value of ELS products sold by Korea’s five major banks set to m

The race to be South Korea’s top auto importer is coming down to the wire as BMW tries to reclaim the No. 1 position from Mercedes-Benz for the first time since 2015. According to the Korea Automobile Importers and Distributors Association’s report released Tuesday, BMW sold 69,546 vehicles in the Korean market from January to November. Mercedes-Benz sold 68,156 units in the same period, 1,390 cars less than BMW. The bestselling models of the two German automakers are the BMW 5 Serie

Hopes are growing that Korean Canadian director and playwright Celine Song’s directorial debut “Past Lives” could repeat the success of Lee Isaac Chung's heartwarming family drama “Minari," nominated in six categories at the 2021 Academy Awards. The 2024 Academy Awards are slated to take place March 10, 2024. "Past Lives," which premiered at the 2023 Sundance Film Festival in January, quickly garnered international critical attention. The film opened i

According to a survey of single men and women of Korean nationality, the ideal husband should be earning an annual salary exceeding 60 million won ($45,745) and have a height of 178.7 centimeters, while the ideal wife should earn around 44 million won annually and be 164.2 centimeters tall. The survey, conducted by matchmaking agency Duo on Korean singles between 25 and 39, also showed that both men and women prefer their partner to be working in an office setting. Around 45 percent of males a

LG Display, the top display maker in producing high-end organic light-emitting diode panels for TVs, has launched a voluntary redundancy program for its factory workers in its latest bid to reduce costs after months of operational losses, according to industry sources on Wednesday. Workers at its manufacturing plants in Paju, Gyeonggi Province and Gumi, North Gyeongsang Province, are eligible for voluntary retirement if they are over 40 years old. The company is offering severance pay for 36 m

AliExpress, an online direct purchase platform owned by Chinese e-commerce giant Alibaba Group, has revealed plans to invest 10 billion won ($7.6 million) in South Korea over the next three years to extensively regulate counterfeit goods sold on the platform, according to the firm on Wednesday. The announcement comes amid ongoing consumer complaints about counterfeit goods purchased through the platform since its official debut in Korea in 2018. "We feel an increased sense of responsibility

North Korea orchestrated a unique event on Tuesday, where personally curated gifts from leader Kim Jong-un were presented to participants at the national mothers' meeting, continuing the trend of promoting the pivotal role of mothers in state-controlled media. North Korea hosted the fifth National Conference of Mothers in Pyongyang on Sunday and Monday, marking the first occurrence of the event since 2012. Speaking at the event, Ri Il-hwan, the secretary of the Central Committee of the Work