Latest News

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  State-affiliated foundation to pay compensation and delayed interest to Japan's forced labor victims SEOUL -- The South Korean government has officially announced that the Foundation for Victims of Forced Mobilization by Imperial Japan (FOMO), operated by the interior ministry, will play the role of the "third-party compensator" to pay court-ordered compensation and delayed interest to the forced labor victims and their families. Ties between the two Asian neighbors have been in the doldrums for decades, with South Korea insisting that Japan should apologize and make ame 2023-03-06
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  S. Korea's finance sector inflates recruiting capacity while carrying out government's order to hire more employees SEOUL -- The South Korean financial sector has been embroiled in a controversy that it has inflated its recruiting capacity while carrying out the financial authorities' order to hire more young employees. Unlike the original plan to recruit 4,719 new employees, the actual number turned out to be only 2,654, according to an exclusive report by Seoul-based news media company Economic Daily. During a policy briefing on Febr 2023-03-06
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  Pulmuone opens second vegan restaurant to expand vegan business SEOUL -- Targeting South Korea's steadily growing vegan population, Pulmuone Food & Culture, the cafeteria service management wing of Seoul-based food company Pulmuone, will beef up its vegan food business through the second vegan restaurant called "Plantude." Customers can enjoy various plant-based food at the restaurant such as salad and a tofu dish that contains black olives and cherry tomatoes. Thanks to increased awareness of health and well-being, the numbe 2023-03-06
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  ​SK Innovation's petrochemical wing makes equity investment into pyrolysis startup SEOUL -- SK Incheon Petrochem, a petrochemical wing of South Korean conglomerate SK Group's intermediate holding company SK Innovation, made an equity investment into LD Carbon, a domestic startup specializing in pyrolysis that uses discarded car tires to extract oil. The pyrolysis technique uses extreme heat and pressure to break down plastics or polymers such as rubber to extract oil, carbon black, and combustible gases. Carbon black is a solid carbon material that can be use 2023-03-06
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  [OPINION]​ The Financial Markets and US There is continuing bad news about bonds, property, stocks, and other investments along with concern about inflation. Everything seems to be going down, except inflation, which 2023-03-03
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  KT to work with Intel for early introduction of WiFi 7 services SEOUL -- South Korea's major telecom company KT has partnered with U.S. technology giant Intel to demonstrate WiFi 7 technology, the next-generation wireless networking technology with faster speeds and lower latency than conventional standards. The two companies will also work to stabilize the solution's performance as it can be widely used in various sectors including virtual reality and teleconferencing. Wi-Fi 7, which provides a speed of up to 11.5 gigabits per second ( 2023-03-03
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  [OPINION] ​Deciphering Hallyu's Popularity New Delhi -- The Korean cultural wave Hallyu has indeed gone as global as globalization itself. It seems that in almost every city of the world which is connected to globalization, Hallyu is having strong reverberations. In its present avatar, Hallyu is largely led by South Korean pop music and South Korean dramas. Gangnam Style, BTS, BLA 2023-03-03
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  J. Cole collaborates with BTS member J-Hope for solo single 'on the street' SEOUL -- J. Cole, an American rapper with six albums that topped Billboard's top 200 popular albums chart, collaborated with J-Hope on the 29-year-old BTS member's single song. The American artist showcased his rapping skills in J-Hope's song titled "on the street," which is a place where the South Korean singer first started to dream of becoming an artist. J. Cole is known for his husky tone and melodic rap performances. The 38-year-old is regarded as one of 2023-03-03
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  Major S. Korean construction companies focus on overseas projects due to slowed domestic market SEOUL -- Major Korean construction companies are seeking opportunities to expand into overseas markets. With concerns rising about the sluggishness of the domestic housing market due to market deterioration, the impact of high-interest rates, and rising raw material prices, the companies are turning their attention to overseas markets as the domestic market is expected to slow down. According to the International Contractors Association of Korea on March 2, the cumulative amount of 2023-03-03
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  Researchers develop AI-based solution capable of targeting tumor cells SEOUL -- Researchers have developed a cancer treatment solution using artificial intelligence and big data analysis. The technology accurately attacks tumor cells through a database that distinguishes cancer cells from normal cells. A research team led by Choi Jung-kyoon, a professor at the Korea Advanced Institute of Science & Technology (KAIST) specializing in genomics, and cell biologist Park Jong-eun have created the technology capable of targeting tumor cells. Using a gene 2023-03-03
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  BTS 'Dynamite' to be recreated into Lego pop-up store in southern Seoul SEOUL -- BTS' global mega-hit song "Dynamite" will be recreated into a pop-up store with various Lego items. At the offline store run by South Korea's mobile carrier LG Uplus, visitors can purchase Lego sets created under the theme of the Dynamite music video which gained more than 1.6 billion views on YouTube. The disco-pop song that rolled out in August 2020 stayed in Billboard's top 100 most popular song chart for 32 consecutive weeks. The seven-member band 2023-03-02
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  Hyundai auto group's vehicles garner explosive popularity in U.S. SEOUL -- Vehicles made by South Korea's Hyundai auto group are gaining explosive popularity in the United States. Monthly sales of Hyundai vehicles in February 2023 soared 16 percent compared to the same period a year ago in the U.S. market, selling a total of 122,111 units. According to data released by Hyundai Motor America, Hyundai Motors sold 57,044 units only in February, up nine percent from a year ago. Hyundai's American office said most sold vehicles include Elantr 2023-03-02
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  KT showcases delivery robot capable of controlling food temperature at Barcelona's mobile device exhibition SEOUL -- South Korea's major telecom company KT showcased a self-driving delivery robot capable of controlling temperature and humidity while delivering food products at Mobile World Congress, an annual mobile device exhibition in Barcelona. South Korea's robot industry which stood at five trillion won ($3.7 billion) in 2020 is growing at an average annual growth rate of 3.6 percent. Robots are currently used in various sectors including restaurant services, elderly care, a 2023-02-28
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  ​South Korea to cut heavy reliance on China for key minerals to secure stable supply SEOUL -- ​South Korea plans to cut its heavy reliance on China for key minerals, including lithium, nickel and graphite, from the current 80 percent to 50 percent by 2030 by creating stable mineral supply chains with 30 major resource-rich countries. On February 27, the Ministry of Trade, Industry and Energy announced the plan after holding a meeting with representatives of automakers and secondary battery producers, including Hyundai Motor Co., Samsung SDI, LG Energy Solution, and 2023-02-28
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  Seoul's facility management operator to recruit repair shops for public bike rental service SEOUL -- The facility management operator under the Seoul metropolitan government will recruit bicycle repairmen for the capital city's public bikes called "Ttareungi," also known as Seoul Bike. The public bicycle rental service launched in December 2015 has been used by urbanites who wish to travel short distances of a few kilometers instead of using crowded buses or subway trains. As of January 2023, there were some 43,500 Seoul Bikes in the capital city. The cumula 2023-02-28
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  Joint research team develops new electrode production technique for high-capacity EV batteries SEOUL -- A joint team of researchers developed a new type of electrodes using carbon fiber paper to increase the durability of high-capacity lithium metal secondary batteries commonly used in electric vehicles. The new paper-type batteries could prevent battery combustions that could trigger catastrophic accidents. Lithium-ion batteries' anode material plays a crucial role in the operation of the power bank by storing ions from the cathode inside the battery and discharging t 2023-02-28
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  Researchers develop radiation-resistant low-electricity non-volatile memory chip component SEOUL -- A South Korean research team has developed a non-volatile memory chip component that consumes very little electricity and endures radiation levels similar to the primary cosmic radiation and atmospheric radiation which can damage the electronic parts of high-altitude aircraft or space crafts. Cosmic radiation, also known as primary cosmic rays, is charged particles that travel from astrophysical sources such as the sun with enormous amounts of energy. Atmospheric radiation 2023-02-28
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  Billboard includes genius idol incubator Min Hee-jin in 'The 2023 Women in Music' list SEOUL -- Min Hee-jin, a genius idol incubator who has planned concepts for K-pop superstar band NewJeans, was included in Billboard's list of influential women in the music industry. Min who has nurtured various SM Entertainment groups including Girls' Generation, f(x), and EXO was picked as the chief brand officer for ADOR, a subsidiary label of the agency of BTS. Min is currently in charge of nurturing rookie artists and producing music at ADOR. At SM Entertainment, she b 2023-02-28
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  Anti-drone system to be established in S. Korea's central city of Daejeon SEOUL -- In an effort to efficiently handle unexpected threats caused by drones, South Korea's central city of Daejeon will build an anti-drone system for state-run agencies. After the establishment of the prevention system, the city will demonstrate its aerial surveillance functions. Anti-drone systems are mostly used to detect drones and neutralize them before aerial vehicles reach the country's key facilities. According to South Korea's Joint Chiefs of Staff (JCS), f 2023-02-27
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  Non-consumption expenditure accounts for 26.5% of total household spending in 2022 SEOUL -- Non-consumption household expenditure including tax and interest payments accounted for more than a quarter of entire household spending last year, the Korean Statistical Information Service (KOSIS) said February 27. The average non-consumption household expenditure was estimated at 951,000 won ($719) in 2022, up 8 percent from a year before, according to the KOSIS affiliated with Statistics Korea. The sum represented 26.5 percent of total average household spending of 3.5 2023-02-27