Latest News

• 
  ​Ticketing agencies Interpark and Triple to adopt luggage tracking service for first time SEOUL -- Interpark, a popular online ticketing agency operated by South Korea's online leisure and accommodation service company Yanolja, and its brother company Triple will adopt a real-time airport luggage tracking service for the first time as a travel and leisure ticket seller in the country. According to Incheon International Airport, South Korea's main gateway, an annual average of 62.6 million luggage is processed at the airport and about two out of every one million 2023-02-20
• 
  Art college in Seoul to be recreated in metaverse to provide virtual training courses SEOUL -- A Seoul-based private college specializing in music, culinary arts, and makeup arts will be recreated into a metaverse world targeting young students familiar with virtual online activities. The virtual campus created through collaboration with South Korea's major telecom company KT and Dot-mill, a domestic immersive content producer, will enable students to take classes and participate in various online college events. Metaverse, which allows users to engage in social 2023-02-20
• 
  [OPINION] Economic security: new mantra in Japan KARACHI -- In the last few months, particularly after the release of Japan’s new National Security Strategy (NSS) document in December last year, the phrase “economic security” has acquired inor 2023-02-20
• 
  [Weekly Stock Market] Investors to focus on BOK's interest rate decision SEOUL -- The benchmark Korea Stock Price Index (KOSPI) ended last week slightly lower closing at 2,451.21 points (-0.75 percent) pressured by higher-than-expected U.S. inflation and consumer data which all increased the likelihood 2023-02-19
• 
  [COLUMN] The National Assembly, the birth rate and the way out of hell SEOUL -- The National Assembly last week passed a motion to impeach Lee Sang-min, the Minister of Interior and Safety, over the Itaewon tragedy. It’s now up to the Constitutional Court whether to approve or reject it. Reading this news, I found myself thinking about Korea’s falling birth rate. I know this makes little sense but let me try to explain the c 2023-02-17
• 
  Indonesia to collaborate with K-pop industry to create global phenomenon 'Indonesian Wave' SEOUL -- Indonesia is seeking to step up collaboration with South Korean partners to create an Indonesian entertainment ecosystem equal to the Korean Wave, Indonesian Ambassador to South Korea Gandi Sulistiyanto said during an annual media briefing at his official residence in Seoul on February 17. He said that his country aims to create an Indonesia Wave (I-Wave) by cooperating with South Korea in various entertainment sectors such as fashion, music, games and animation. " 2023-02-17
• 
  ​LG Chem acquires 5.7% stake in US lithium firm to secure material for EV batteries SEOUL -- LG Chem, a chemical unit of South Korea's LG Group, has signed a deal with U.S.-based Piedmont Lithium to acquire a 5.7 percent stake in the latter for $75 million (96 billion won), the company said February 17. LG said that the contract is aimed at securing a stable supply of lithium, a key material for the production of electric vehicle batteries. Through the investment, LG Chem has won rights to preferential negotiations with Piedmont for the purchase of 10,000 2023-02-17
• 
  State footwear tech institute commercializes new outsole production technique SEOUL -- A joint research team led by a footwear technology institute operated by the trade ministry has developed and commercialized an outsole production technique that saves time and costs. Outsoles made using the technique is about 27 percent lighter than conventional soles. Normally, an outsole, the most-outer layer of a shoe foot sole, is manufactured through seven or eight steps that involve the molding, cutting, buffing, cleaning and drying of the rubbery layer before it 2023-02-17
• 
  ​$115 million fund to be created to help develop low-carbon steel products SEOUL -- The Ministry of Industry, Trade and Energy plans to create a 150 billion won ($115 million) fund jointly with domestic steelmakers to help them develop low-carbon products. The ministry announced the plan on February 16 as part of a steel industry development strategy to promote steelmakers' transition to a low-carton production structure. The creation of the fund is aimed at coping with the Carbon Border Adjustment Mechanism (CBAM) adopted by the European Union (E 2023-02-17
• 
  [SUMMARY] Daily News Selection by Aju Business Daily on February 17, 2023 The following stories are the daily summary of news in South Korea on February 17. SEOUL -- Foreigners found using cryptocurrencies to fund terrorist organizations Two foreign nationals living in South Korea have been detained for using cryptocurrencies to support a terrorist organization with ties to al-Qaida. According to the National Office of Investigation of the National Police Agency, a 29-year-old man from Kazakhstan and a 31-year-old man from Uzbekistan were submitte 2023-02-17
• 
  SK geo centric to build plastic recycling factory in France's northeastern region SEOUL -- SK geo centric, a chemical company affiliated with South Korea's SK Group, will jointly build a plastic recycling factory with SUEZ, a France-based water and waste management company, and Canadian plastic recycling company Loop Industries, in the northeast region of France. The factory with an annual production capacity of 70,000 tons will be completed in 2027. The construction project is followed by SK geo centric's agreement with the two companies in June 2022 to 2023-02-17
• 
  K-pop girl band Brave Girls to disband after rolling out digital single 'Goodbye' SEOUL -- Brave Girls, a four-member K-pop girl band, will disband after releasing its last single titled "Goodbye." The band that unexpectedly stepped into the spotlight 10 years after its debut with a single dance track titled "Rollin'" in 2021 did not renew the contract with its agency "Brave Entertainment." All group members will end the exclusive contract, said Brave Entertainment, adding that the group will release Goodbye at 6 p.m. (0900 GMT) 2023-02-16
• 
  ​Prosecution seeks arrest warrant for opposition leader on corruption charges SEOUL -- The Seoul Central District Prosecutors' Office said February 16 that it has sought an arrest warrant for Rep. Lee Jae-myung, chairman of the main progressive opposition Democratic Party (DP), over corruption allegations involving land development projects and suspicious donations from corporations. Lee faces bribery, breach of duty, conflict of interest and other charges in relation to large-scale development projects in Daejang-dong and Wirye, Seongnam City, just sou 2023-02-16
• 
  [SUMMARY] Daily News Selection by Aju Business Daily on February 16, 2023 The following stories are the daily summary of news in South Korea on February 15 and 16. SEOUL -- More celebrities from Korea give aid to earthquake-stricken Turkey and Syria More celebrities from South Korea have joined international efforts to aid those affected by the deadly earthquakes in Turkey and Syria. The Korean Committee for UNICEF announced on February 15 that Jimin and J-Hope, two members of BTS, have each donated 100 million won ($77,918) to support the organizatio 2023-02-16
• 
  Samsung develops air purification filter technique capable of simultaneously capturing particulate matter and volatile organic compounds SEOUL -- A research institute affiliated with Samsung Electronics has developed an air purification filter technology capable of capturing particulate matter and harmful air pollutants called "volatile organic compounds (VOCs)" at the same time. Commercialization of the filter that can be used for up to 20 years can help various air conditioning facilities with separate filters for each hazardous material reduce filter regeneration costs and improve space efficiency. Curr 2023-02-16
• 
  ​South Korea to invest $1.16 billion in defense industry by 2027 to boost exports SEOUL -- The South Korean government has decided to invest 1.5 trillion won ($1.16 billion) in developing defense technologies under a private-military cooperation project by 2027. On February 14, the Ministry of Trade, Industry and Energy and the Ministry of National Defense announced the Third Basic Plan on Private-Public Technology Development Cooperation to beef up the country's defense industry as one of strategic export growth engines. The ministries have selected 16 2023-02-16
• 
  S. Korean consumers favor meal kit products than dining out due to price hike SEOUL -- The popularity of meal kits, ready-to-eat meal packs, at megastores has increased despite South Korea adopting re-opening policies, including lifting regulations on compulsory face masks in indoor environments. The unexpected popularity of the convenient heat-and-eat meal packs was affected by increased prices of daily necessities including food. Meal kits became popular in South Korea when the first wave of the COVID-19 pandemic hit the country in early 2020. People avoid 2023-02-16
• 
  Seoul's satellite city to provide smart care solutions for 543 vulnerable residents living alone SEOUL -- Three different smart care solutions -- the internet of things-based monitoring devices, artificial intelligence-based care robots, and Bluetooth-based robot psychologists -- will be distributed to middle-aged and older people with a high possibility of dying alone. The solutions, already used by some 300 residents in 2020, will be provided to additional 543 residents. The total number of single-person households in Seongnam is 122,461. About 38.5 percent of them are aged 2023-02-16
• 
  [OPINION] ​Tragic devastation in Turkey and Syria KENOSHA, Wisconsin -- The tremendous devastation in Syria and Turkey as a result of the February 6 earthquakes is an ongoing important focus of world action. The l 2023-02-16
• 
  ​China to resume issuing short-term visas for South Koreans February 18 SEOUL -- China has decided to resume issuing short-term visas for South Korean travelers on February 18, the Chinese Embassy in Seoul said on February 15. The decision was made four days after South Korea restarted the issuance of short-term visas for travelers from China. The Seoul government lifted the visa restrictions as China's new COVID-19 wave began to recede and a mere 1.1 percent of travelers from the neighboring country tested positive for the coronavirus. The Seo 2023-02-15