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The following is a chronology of major events leading to the fifth launch of Korea's homegrown space rocket Nuri from Naro Space Center in the country's southern coastal village of Goheung on Wednesday. June 4, 1993 — Korea launches the homegrown one-stage solid propelled science observation rocket, called the Korea Space Rocket-I, after three years of development. July 9, 1997 — Korea launches the homegrown KSR-II two-stage solid propelled science observation rocket. It adopted such advanced technologies as guided control and stage separation compared with the previous version. March 26, 2001 — Korea joins the Missile Technology Control Regime, an informal international association that oversees the proliferation of unmanned delivery systems capable of delivering weapons of mass destruction. August 2002 — Korea and Russia confirm plans to develop the Korea Space Launch Vehicle-I (KSLV-I) rocket, with a launch planned for 2005. 2005 — Korea and Russia complete work on critical designs for the KSLV-I. The original launch date was postponed until October 2007. June 11, 2009 — Kor

LS Electric said Wednesday it will set up a joint venture with two affiliates of Taiwan's Formosa Plastics Group to win power infrastructure projects in Taiwan, expanding beyond its current business of supplying electrical equipment there. The Korean maker of power equipment and automation systems signed the agreement Tuesday with Nan Ya Plastics and KHI at LS Yongsan Tower in Seoul. LS Electric will hold 50 percent of the venture, Nan Ya 40 percent and KHI 10 percent. Nan Ya is a core Formosa affiliate that makes petrochemicals, electronic materials and electronics. It has been building a power solutions business, moving from distribution products into extra-high-voltage transmission equipment and grid stabilization, according to LS Electric. KHI was set up last year with Formosa investment to commercialize technologies developed at the Korea Advanced Institute of Science and Technology, a state-run research university. The venture will first build local capacity to handle bidding, design and technical support for Taiwanese power projects. It will combine LS Electric's manufacturing and

Paris Baguette, Korea’s largest bakery chain, is expanding its health-focused Paran Label line across all 28 of its Singapore stores — marking the global debut for the brand, named after the Korean word for blue, as local demand rises for breads that balance nutrition and taste. The bakery chain first introduced Paran Label at its Paragon store in Singapore in February before expanding it across its network after testing consumer response. The lineup now includes seven products, five breads and two sandwiches, with Multigrain Rye Bread, Smoked Salmon Ricotta Sandwich and Roasted Chicken Ricotta Sandwich among its best-selling items. After the expansion, average 30-day sales in the sliced-bread category rose 57 percent from the May-to-July average recorded before Paran Label reached all stores, while sales of sandwiches and salads increased 10 percent. Paris Baguette said the brand has drawn customers with products emphasizing dietary fiber, lower sugar, protein and probiotics while retaining varied textures and flavors. The company has also paired breads with sandwiches and salads des

Boston Dynamics has named Rohit Prasad, an artificial intelligence (AI) veteran who helped build Alexa and lead Amazon’s foundation-model efforts, as its new chief executive officer as it moves to fuse AI with advanced robotics. Prasad, who joins the company Wednesday, will lead Boston Dynamics’ push to commercialize intelligent robots and expand physical AI applications across industries, the company said. Before joining Boston Dynamics, Prasad spent 12 years at Amazon, where he served as senior vice president and head scientist for Alexa and artificial general intelligence. He joined Amazon in 2013 during Alexa’s early development and later led work on Amazon Nova, a family of foundation models developed for generative AI applications. Prasad previously spent nearly 14 years at Raytheon BBN Technologies, where he worked on machine-learning research and applications for government and commercial customers. Boston Dynamics said Prasad’s experience turning AI research into products, platforms and business ecosystems would help accelerate commercialization of intelligent robotic sys

Excess funds held by South Korean businesses hit an all-time high in the second quarter as strong semiconductor exports boosted corporate earnings, central bank data showed Wednesday. Net financial funds -- the value of financial assets minus financial liabilities -- held by non-financial corporations totaled 67.1 trillion won ($50.1 billion) at the end of June, sharply up from 20.8 trillion won three months earlier, according to the data from the Bank of Korea (BOK). It marked the highest quarterly figure since the BOK began compiling the data in 2009. Households' net financial funds fell to 60.7 trillion won in the second quarter from 79.2 trillion won in the first quarter, partly due to a fall in incomes and more purchases of homes. Financial assets held by the country's households and nonprofit organizations totaled 6,930.2 trillion won at the end of June, up 513 trillion won from three months earlier. Their debts rose by 28.2 trillion won from three months earlier to 2,495.8 trillion won over the cited period. The ratio of financial assets to liabilities owned by households stood at 2

POSCO Holdings has completed the upstream process of its second brine lithium plant at the Hombre Muerto Salt Flat in Argentina, laying the groundwork for an annual production capacity of 50,000 tons of lithium hydroxide, eight years after acquiring mining rights to the site. POSCO Holdings held a completion ceremony for the upstream process on Tuesday (local time) near the salt flat, located at an altitude of 4,000 meters above sea level. The ceremony was attended by POSCO Group Chairman Chang In-hwa, POSCO Argentina President Park Hyun, Argentine presidential chief of staff Karina Milei and Korean Ambassador to Argentina Lee Chong-hwa, among others. "Since I became head of the new business division in 2014, I have personally visited sites to find salt flats suitable for lithium development. It is deeply moving to have overcome numerous challenges in the extreme environment at 4,000 meters above sea level and reach today's completion," Chang said. "We will continue to proactively secure competitive resources, turn them into production and profitability and stably supply the critical mi

LG Electronics reported solid earnings growth in the third quarter, driven largely by strong performance in its home appliance and vehicle component businesses, the company said Wednesday in a regulatory filing. The electronics maker posted an operating profit of 781.8 billion won ($583 million) for the July-September period, up 13.5 percent from a year earlier. Sales rose 8.9 percent to 23.82 trillion won. The company attributed the growth to robust sales of its core businesses and continued expansion of business-to-business (B2B) operations. Its home appliance and vehicle solutions businesses maintained solid profitability, while its TV business also improved profitability from a year earlier. For the first nine months, LG Electronics’ sales reached a record 71.38 trillion won, up 9.2 percent from a year earlier. Operating profit also hit a record 4.03 trillion won, up 55.9 percent. Despite unfavorable external business conditions, including conflicts in the Middle East, the company said it continued to grow sales by maintaining its strong market positions in its core businesses and

South Korea launched its homegrown Nuri rocket Wednesday on its fifth flight to place 15 satellites into orbit, including five that will form part of the country's first domestically launched microsatellite constellation. The 200-ton Nuri blasted off from the Naro Space Center in Goheung, about 400 kilometers southwest of Seoul, at 12:25 p.m. The payload consists of five New-space Earth Observation Satellite Constellation for National Safety (NEONSAT) microsatellites and 10 CubeSats. Nuri's first and second stages will separate about 123 and 268 seconds after liftoff, respectively, with satellite deployment beginning between 810 and 960 seconds at an altitude of around 575 kilometers. The five NEONSATs, Nos. 2 through 6, will be deployed at intervals of 35 to 40 seconds, with Nuri's upper stage rotating by about 45 degrees between each separation to prevent collisions. The 10 CubeSats will then be deployed two at a time at 10-second intervals. After releasing all 15 satellites, Nuri will perform a collision-avoidance maneuver and vent its remaining fuel, completing its flight about 20 min

An appellate court overturned a lower court ruling Wednesday, acquitting former President Yoon Suk Yeol of charges related to receiving free opinion polls ahead of the 2022 presidential election in violation of the political funds law. The Seoul High Court found Yoon not guilty of violating the Political Funds Act, which bans improper political donations, reversing the Seoul Central District Court's conviction in July that had sentenced him to two years in prison. Following the appellate ruling, special counsel Min Joong-ki's team indicated it would file an appeal to the Supreme Court, while Yoon's legal team welcomed the acquittal. Yoon had been indicted on charges of colluding with his wife and receiving 58 opinion polls worth about 270 million won ($202,000) in total for free from self-proclaimed power broker Myung Tae-kyun between April 2021 and March 2022. The appellate court ruled that Myung's provision of opinion polls could not be seen as political donations under the political funds law as they could not be categorized as having a benefit in terms of property. "While the politica

KT&G has begun full-scale operations at a new cigarette plant in Indonesia, completing a five-country global production network spanning Korea, Indonesia, Russia, Kazakhstan and Turkey. KT&G said Wednesday that it held an opening ceremony for the plant in Pasuruan, East Java, on Monday Indonesia is one of the world's major tobacco markets and a key export hub in the Asia-Pacific region. KT&G entered the market in 2011 by acquiring a local company. It has since introduced Esse and Juara, its leading brands in Indonesia. The company ranks fourth in the country's cigarette market. KT&G built the plant to meet growing demand. It signed an agreement with Indonesia's Ministry of Investment and the Investment Coordinating Board in September 2023, began construction in April 2024 and started trial operations in the first half of 2026. Once all nine production lines are installed, the plant will have an annual capacity of up to 21 billion cigarettes. Combined with the existing plant's 14 billion-cigarette capacity, KT&G's total capacity in Indonesia will reach 35 billion cigarettes a year, making

U.S. Brig. Gen. Robert Brown has assumed duties as the new commanding general of the 2nd Infantry Division/Korea-U.S. Combined Division, the U.S. Army unit in Korea said Wednesday. A ceremony marking the assumption of command was held at Camp Humphreys in Pyeongtaek, about 60 kilometers south of Seoul, according to the 2nd Infantry Division. Brown assumed the command from Brig. Gen. Jason Rosenstrauch, who has served as acting commanding general since July 24. "To guarantee peace on this peninsula, we will have the courage to train for the realities of war," Lt. Gen. Joseph Hilbert, commanding general of the U.S. Eighth Army said. "Todd, I've got the absolute confidence in your ability to lead this combined division. You've got the experience, the drive and the warrior spirit to take this formation to new levels," Hilbert added, referring to Brown by his nickname. "I understand the power of our alliance," Brown said. "It is the honor of a lifetime to take command of this storied division." The 2nd Infantry Division/Korea-U.S. Combined Division is the last remaining permanently forward-stat

Prime Minister Han Seong-sook said Wednesday that South Korea should keep asking North Korea to apologize over the recent land mine blast that blew off the ankle of a South Korean military officer at the heavily armed border between the two sides. South Korea has determined that land mines deliberately planted by North Korea on the South's side of the Military Demarcation Line (MDL) were the cause of the Sept. 21 blast that left three South Korean soldiers wounded, two of them seriously. One of the two seriously wounded, a lieutenant colonel, had one of his ankles blown off in the explosion. South Korea's military has demanded North Korea apologize, but the North has denied any involvement, with Kim Yo-jong, the powerful sister of leader Kim Jong-un, accusing Seoul of fabricating the findings and warning of "merciless" retaliation if the South takes any corresponding actions. On Wednesday, the prime minister said she believes there should be an apology from the North. "Now that it has been clearly revealed that this is North Korea's fault and that they committed this, I think there need t