South Korea is forecast to suffer a massive tax revenue shortfall for the second consecutive year in 2024 due mainly to weak corporate activities amid an economic slowdown last year, the finance ministry said

South Korean companies have pledged to invest a combined 65 trillion won (US$48.9 billion) in artificial intelligence (AI) development by 2027 to compete with global leaders, the presidential office said Thursday.

The investment commitment

SK On, the battery unit of South Korea’s chip-to-construction conglomerate SK Group, will reduce its workforce to ride out the current slowdown in electric vehicle sales, industry sources said Thursday.

SK On has decided

South Korea’s top diplomat has stressed the need to strengthen the U.N. Security Council (UNSC) by reforming it to respond more effectively to ongoing international conflicts, the foreign ministry said Thursday.

Foreign Minister Cho

South Korean low-cost carrier T’way Air Co. said Thursday it has signed a deal with global aircraft leasing firm Avolon Holdings Ltd. to introduce A330-900 Neo aircraft units manufactured by Airbus.

The agreement calls