Latest news
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South Korea to scrap mask mandate for most indoor places January 30
SEOUL -- South Korea plans to lift the mask mandate for most indoor places from January 30 as part of efforts to return to normal life three years after the outbreak of the COVID-19 pandemic. Prime Minister Han Duck-soo said on January 20 that the mask guidelines will be eased from “mandatory” to “optional” except for some vulnerable indoor facilities as the daily caseload of coronavirus infections continues to fall. He added that the mask mandate, howe
January 20, 2023 -
Yanolja's cloud solution wing teams up with UAE travel company AL Rais Travel targeting Mideastern market
SEOUL -- The cloud solution wing of Yanolja, a leading reservation service platform for travel and leisure activity in South Korea, has teamed up with Mideastern travel companies -- Al Rais Travel and Wego -- to carry out digital transformation projects for the Middle Eastern leisure industry. The South Korean company's cloud-based hospitality solutions will be combined with the two travel firms' local networks. The tie-up was announced at a business forum while Yanolja Clo
January 20, 2023 -
Producer prices hit 14-year high in 2022, but fall for second straight month in December
SEOUL -- Producer prices hit a 14-year high last year, driven by runaway inflation arising from high global oil and gas prices and the falling value of the Korean won against the U.S. dollar. According to the Bank of Korea (BOK) on January 20, the producer price index jumped 8.4 percent in 2022 from a year before, marking the highest growth since 2008 when the index surged 8.6 percent. Prices of manufactured goods climbed 11.7 percent. Particularly coal and petroleum products
January 20, 2023 -
LG Chem seeks to lead anticancer medicine market through acquisition of US biopharmaceutical company AVEO
SEOUL -- To gain a competitive edge in the global anticancer medicine market, LG Chem, a chemical unit of South Korea's LG Group, will acquire AVEO Pharmaceuticals, an American oncology-focused biopharmaceutical company, on January 20. By the end of 2027, the chemical company will invest about $1.6 billion in the biopharmaceuticals sector. LG Chem said the investment was made through a Boston-based life science subsidiary to establish a special purpose corporation and acquire a
January 19, 2023 -
Industry ministry offers $65 million in R&D support for medium-sized firms
SEOUL -- The South Korean government plans to spend 80.2 billion won ($65 million) supporting research and development (R&D) for medium-sized companies to increase their exports. On January 19, the Ministry of Trade, Industry and Energy announced the plan after Second Vice Minister Park Il-jun held a meeting with business representatives at the building of MCNEX, a company specializing in components and materials, in Songdo, Incheon, just west of Seoul. The ministry said th
January 19, 2023 -
Pinkfong to recreate Hong Kong's main theme park using Baby Shark IP
SEOUL -- Targeting the Chinese market, Pinkfong, the creator of a catchy cartoon song called "Baby Shark," has teamed up with the operator of Hong Kong's main theme park called "Ocean Park Hong Kong" to set up the theme park using Baby Shark characters. Visitors can wear sailor costumes and enjoy the Baby Shark-themed sea view. Ocean Park Hong Kong is one of the largest theme parks in Hong Kong along with Hong Kong Disneyland. The theme park was visited by m
January 19, 2023 -
Danish wind turbine maker to invest $300 million in Korea to build parts factory
SEOUL -- Vestas Wind Systems, the world’s top producer of wind turbines, has decided to invest $300 million (370 billion won) in South Korea to build a turbine parts factory. The Danish company has also disclosed a plan to move its Asia-Pacific headquarters from Singapore to Korea. Henrik Andersen, president and CEO of Vestas, announced the decision during a ceremony for strengthening partnership in sustainable energy solutions at a hotel in Davos, Switzerland, on January 1
January 19, 2023 -
S. Korea's health watchdog approves Lunit's breast cancer solution to be exported
SEOUL -- Lunit INSIGHT DBT, a solution specializing in detecting breast cancer developed by South Korea's medical artificial intelligence company Lunit, has received a green light from South Korea's health authorities to be exported to countries around the world. Lunit aims to secure its foothold in the United States and European market through the solution. The new solution is an upgraded version of Lunit INSIGHT MMG capable of analyzing X-rays and medical images of breast
January 19, 2023 -
LIG Nex1 to develop AI-based underwater obstacle detection technology for unmanned surface vehicles
SEOUL -- LIG Nex1, a defense contractor in South Korea, has teamed up with a state-run research institute specializing in robotics to open a joint laboratory for artificial intelligence-based underwater obstacle detection technology. Through the research center, the defense contractor can secure various data for unmanned surface vehicles designed for naval operations. Commercialization of unmanned surface vehicles (USVs) is gaining momentum in South Korea to detect North Korea'
January 18, 2023 -
South Korea to provide policy financing for display sector
SEOUL -- The South Korean Ministry of Trade, Industry and Energy plans to provide 900 billion won ($726.86 million) in policy financing for the display industry this year to improve its technological competitiveness and increase display exports. First Vice Trade Minister Jang Young-jin disclosed the plan on January 18 after holding a meeting with representatives of Samsung Display, LG Display, and other companies making related materials, parts and equipment at the Korea Chamber of
January 18, 2023
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PHOTOS: Korean activists rally for LGBTQ rights on key commemoration day
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Imported electric vehicle registrations surge 150% this year
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Protecting wetlands crucial for migratory birds: New Zealand envoy
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Seafood meal kits gain limelight at industry fair as Korean food makers target ready-to-eat market
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PHOTOS: Seoul Int'l Garden Show underway at Han River park
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Korean Air Force embraces memes, defying military stereotypes
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Korean spicy sauces gain global popularity
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Culture minister advocates for Hangeul signboard at Seoul's iconic gate of royal palace
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HYBE chairman ranks sixth among Korean business leaders in stock assets
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More people fall victim to dating violence in Korea