Latest News

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  KG Mobility selected as preferred negotiator for acquisition of domestic electric bus maker SEOUL -- KG Mobility, formerly known as Ssangyong Motor, has set out to negotiate with Edison Motor, a domestic electric bus maker to meet an agreement in an acquisition deal. Edison Motor creates electric buses with up to 85 percent localized parts. The South Korean carmaker well-known for its lineup of sport utility vehicles (SUVs) said in a statement on April 26 that the company has been selected by a bankruptcy court in Changwon some 300 kilometers (186 miles) south of Seoul as 2023-04-27
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  Yoon and Biden affirm strong commitment to defense of people and territories of S. Korea and US SEOUL -- South Korean President Yoon Suk-yeol and United States President Joe Biden affirmed their strong, shared commitment to the defense of the people and territories of South Korea and the United States, through the deployment of the U.S. strategic assets including U.S. nuclear-capable platforms around the Korean peninsula as deterrence against Pyongyang's nuclear attack. Outlining the joint statement called "Washington Declaration," Yoon said during a joint press 2023-04-27
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  Seoul launches English language-based subway application for foreign passengers SEOUL -- To help foreigners reach their destinations without difficulties, Seoul has launched an English-language-based subway app that provides various train-related information such as a line map and direction guidance inside stations. Users can find the nearest station just by entering their destinations even if they don't know station names. The smart app notifies users if they get on the wrong train on the opposite side. The English language-based app called "Seoul Su 2023-04-27
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  Samsung records deficit of $3.4 bln in semiconductor sector in 1Q 2023 SEOUL -- Samsung Electronics recorded a deficit of 4.58 trillion won ($3.4 billion) in the semiconductor sector for the first quarter of 2023. While profitability improved in the smartphone and home appliance sectors, overall operating profit decreased by more than 90 percent compared to the same period last year. Samsung Electronics said on April 27 that the company recorded sales of 63.75 trillion won and operating profit of 640 billion won based on consolidated results for the f 2023-04-27
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  Baby Shark's creator to host drone show in Seoul on Children's Day SEOUL -- A gigantic shape of a Baby Shark created using some 500 drones will greet Seoulites on the sky of Gwanghwamun Square, an iconic square located in central Seoul featuring beautiful scenery on May 5's Children's Day. During the event, visitors can also enjoy magic shows, concerts, and try on Baby Shark costumes. Gwanghwaun Square is favored by Seoulites and tourists as there are many museums and attractions nearby. Around the square, there are many tea houses and fanc 2023-04-26
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  SK E&S to work with General Electric for establishment of blue hydrogen infrastructure in S. Korea SEOUL -- SK E&S, an energy company affiliated with SK Group, joined hands with General Electric to establish a blue hydrogen ecosystem that can produce, distribute, and utilize 250,000 tons of eco-friendly hydrogen in South Korea. Blue hydrogen is favored by industries because of its reasonable production cost compared to green hydrogen based on renewable energy. Green hydrogen uses electrolysis to split water and release only hydrogen and oxygen. Hydrogen produced by steam ref 2023-04-26
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  Seoul partners with SK geo centric to recycle discarded banners into industrial materials SEOUL -- Seoul will collaborate with SK geo centric, a chemical company affiliated with South Korea's SK Group, to recycle some 24,000 discarded advertisement and promotion banners. After removing nylon strings and wood blocks from the used banners, the capital city will send the discarded materials to SK geo centric so the chemical firm can verify whether they can be recycled using its chemical recycling technology. Chemical recycling is used to decompose and refine waste PET 2023-04-26
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  Hyundai and SK On to jointly build EV battery factory in US SEOUL -- South Korea's Hyundai auto group and SK on, the battery-making wing of SK Group, will jointly build an electric vehicle battery factory in the United States in an effort to meet requirements of the U.S. Inflation Reduction Act that took effect in March 2023 to only provide subsidies for carmakers which produce U.S.-made electric vehicles installed with batteries made on American soil. Currently, Hyundai produces the electrified version of GV70, the luxury sport utility 2023-04-26
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  Multi-genre music producer DJ Chen to perform at 'K-Pop Dance Night' in New York SEOUL -- DJ Chen, a multi-genre music producer who has gained attention for his DJing experience in the eastern region of the United States, will lead a K-pop festival set to be held in New York with K-pop dance clubs from two universities in the Northeastern state. The musician will curate various songs by K-pop idols including boy band Stray Kids, NCT, and Seventeen. DJ Chen is a New Jersey-based artist that has shared the stages with various artists including British-Norwegian 2023-04-25
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  28 S. Koreans safely return home from Sudan through military aircraft SEOUL -- A military transport airplane carrying 28 South Koreans who escaped Sudan suffering a civil war safely arrived at an airbase in Seoul's southeastern satellite city of Seongnam. The presidential office said the aircraft called "KC-330" arrived at Seoul Air Base at 3:57 p.m. (0657 GMT) on April 25. After checking their health conditions, the rescued members will move into accommodation facilities provided by the Ministry of Foreign Affairs. The South Korean 2023-04-25
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  Hyundai Wia to commercialize autonomous logistics robot in US SEOUL -- Hyundai Wia, a parts-making unit of South Korea's Hyundai auto group, will commercialize autonomous logistics robots at a Georgia State-based electric vehicle factory operated by car parts maker Hyundai Mobis. The automated robots will roam about the factory to carry heavy cargo while evading obstacles. Autonomous robots are widely adopted at logistics centers and factories to reduce manpower and management costs. Self-driving robots equipped with various sensors inclu 2023-04-25
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  LGES to invest $450 mln in construction of mother factory for pilot battery production SEOUL -- LG Energy Solution, the battery-making wing of South Korea's LG Group, will build a mother factory that will become the main headquarters of its electric vehicle battery production plants scattered across the world. The factory will play the role of the battery maker's one-stop pilot production base for its EV batteries. A total of 600 billion won ($450.2 million) will be injected into the mother factory project. LG Energy Solution (LGES) said in a statement on Ap 2023-04-25
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  President Yoon Suk-yeol welcomes Netflix's $2.5 bln investment plan in S. Korea's content industry SEOUL -- Prior to a summit meeting with U.S. President Joe Biden, President Yoon Suk-yeol has welcomed Netflix's $2.5 billion investment plan in South Korea's content industry. The president highlighted that the global streaming giant's four-year investment would become an opportunity for South Korean content businesses and creators as well as Netflix. According to data released by South Korea's presidential office, more than 60 percent of the 231 million households 2023-04-25
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  ​Imports of whisky increase by 78.2% thanks to young consumers SEOUL -- The popularity of whisky, a type of liquor that was formerly regarded as the "old people's drink" in South Korea, has skyrocketed due to young consumers in their 20s and 30s. The number of whisky enthusiasts has increased during the COVID-19 pandemic when people were grounded and restaurants and bars were closed early at 9:00 p.m. to prevent the spread of the infectious disease. Whisky was the icon of old people's drinking culture related to the "bom 2023-04-24
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  Shinsegae's duty-free shop operator demonstrates AI chatbot service to take care of employee's inquiries SEOUL -- The duty-free shop operator affiliated with South Korea's retail giant Shinsegae has adopted an artificial intelligence-based administrative service that takes care of human workers' inquiries such as duty-free policies and task guidelines. The chatbot capable of answering employees' questions for 24 hours is currently being demonstrated for some 1,000 workers in Seoul. Chatbot services are widely used in South Korea due to their efficiency. The artificial inte 2023-04-24
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  Busan to host Asia's first World Barista Championship SEOUL -- A global barista competition to select the best barista among some 60 candidates will take place in South Korea's southern port city of Busan, well known for the city's affection for coffee. Using a coffee machine, participants will create 12 drinks such as espresso and milk-based drinks for 15 minutes in front of certified judges from all over the world. Busan said in a statement that the 2024 World Barista Championship (WBC) will be held on May 1, 2024. The four- 2023-04-24
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  S. Korean affordable casual wear brand SPAO to beef up influence in Chinese apparel market SEOUL -- SPAO, an affordable casual wear brand operated by South Korea's apparel giant E-Land Group, will strengthen its foothold in the Chinese clothing market by uniting the headquarters of the brand's South Korean and Chinese operations in 2023. The company made a foray into the Chinese market in 2013 but its operations were devastated due to diplomatic ties between Seoul and Beijing over the Terminal High Altitude Area Defense system in the mid-2010s and the COVID-19 pandem 2023-04-24
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  Hyundai's car parts maker wing showcases crab-walking vehicle SEOUL -- Hyundai Mobis, the parts-making unit of South Korea's Hyundai auto group, has demonstrated an electric vehicle capable of crab driving, which enables cars to move sideways like a crab to evade obstacles or move out of a tight spot. Using four wheels that move at different angles, the crab-walking vehicle can also spin around 360 degrees. The car parts maker released a video showing Hyundai’s IONIQ 5 equipped with the all-in-one electric vehicle (EV) wheel modul 2023-04-24
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  President Yoon embarks on seven-day state visit to U.S. SEOUL -- President Yoon Suk-yeol and First Lady Kim Geon-hee will embark on a seven-day state visit to the United States on April 24. President Yoon and U.S. President Joe Biden will hold a summit to evaluate the achievements of the 70-year-old South Korea-U.S. alliance and discuss the future direction of economic and security cooperation. The state visit will take place after a classified document was leaked online suggesting that the U.S. has been spying on allies including South 2023-04-24
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  BTS member Suga rolls out rap song 'Haegeum' prior to solo world tour SEOUL -- BTS's lead rapper Suga released a rap song titled "Haegeum" ahead of his solo world tour set to start in Belmont Park, New York on April 26. The 30-year-old artist has questioned the meaning of freedom in a restricted world through the title track of its solo album "D-DAY." The music video of Haegeum was watched by more than 2 million viewers less than two hours after its release on April 21. The title song featuring a fast reap beat and a dramatic 2023-04-21