Most Popular
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Korean labor force to shrink by 10 million by 2044: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Allegations surrounding BTS resurface, enraged fans demand apology
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Students with history of violence will be barred from becoming teachers
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Medical feud leaves hospitals in financial crisis
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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'Queen of Tears' riding high on Netflix chart
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Samsung mocks Apple over iPhone alarm glitch
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Chip up cycle won’t stay long: SK chief
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Seoul Dragon City, Korea's largest hotel cluster to open Oct. 1
South Korea’s largest hotel and entertainment complex Seoul Dragon City is set to open on Oct. 1. It is also dubbed Korea’s first “hotelplex,” as it combines four hotels. Seung Man-ho, CEO of Seobu T&D, speaks to reporters at Seoul Dragon City on Wednesday. (Seoul Dragon City)“We are building Korea’s first hospitality landmark,” said Jerome Stubert, the cluster general manager of Seoul Dragon City, at a press conference Wednesday.The gigantic three-tower complex is an ambitious 500 billion won
IndustrySept. 27, 2017
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KT takes Korean-style health tech solutions to the world stage
With its expertise in connecting people through telecommunications, connectivity has been at the core of other aspects of businesses promoted and operated by KT. A notable move is the healthcare sector, with KT taking its healthcare solutions to far-flung regions like Africa, Russia and Kazakhstan. By introducing connectivity between healthcare centers and remote regions, KT‘s healthcare solutions are aimed at bringing patients in rural areas into the mainstream healthcare system. KT exhibits it
TechnologySept. 27, 2017
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Asia-Pacific nations adopt Seoul Action Plan for Urban Forests
The Seoul Action Plan for Urban Forests and Trees (UFTs) adopted at the second Asia-Pacific Urban Forestry Meeting in Seoul this month aims to provide a framework for countries and cities to adopt urban and forests and green infrastructure to support a sustainable future and good quality of life. The action plan is also an instrument for coordinating the signatory cities, nations, and institutions’ policies. Participants pose at the 2nd Asia-Pacific Urban Forestry Meeting held in Seoul on Sept.
IndustrySept. 27, 2017
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Seoul Action Plan strives for cleaner, cooler cities via urban forestry
The Asia-Pacific region is home to more than 4 billion people, or roughly 60 percent of the entire world population, and 17 megacities. Although these economic hubs have helped lift millions of people out of poverty, the current era of rapid urbanization is leading to the depletion of natural resources, diminishing water quality, increased air pollution and adverse climate change effects, according to a report by Asia-Pacific Urban Forestry Meeting. Representatives from 17 countries gathered in
EconomySept. 27, 2017
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KT stands at forefront of 5G
Since March 2015, when KT Chairman Hwang Chang-gyu first mentioned 5G, or the fifth-generation network, the South Korean mobile carrier has been making efforts to prepare for the establishment of the world’s first 5G network services. The company’s efforts are close to bearing fruit at the PyeongChang 2018 Winter Olympics set to take place in Gangwon Province in February. Taking advantage of being an official telecom partner for the PyeongChang Olympics, KT has been working to showcase the world
TechnologySept. 27, 2017
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Urban forests key in fight against fine dust
Urban forests have played a key role in improving the quality of life for those living in metropolitan cities by tackling urban heat island effects and fine dust in South Korea, where more than 90 percent of its population reside in cities.Forests in Korea help decrease the amount of fine particles by more than 1 million tons per year, according to the Korea Forest Service. But the capital city Seoul, home to nearly one out of five people living here, is suffering from a shortage of urban forest
IndustrySept. 27, 2017
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AI will halve jobs, but also create new ones: SKT ICT chief
Technological advancements centering on artificial intelligence and robotics will inevitably halve jobs, but at the same time, create new task-specific jobs, said Lee Ho-soo, president of ICT strategy at SK Telecom, on Tuesday. At the Korea CQ Forum of Corea Image Communication Institute at the Danish Ambassador’s residence in northern Seoul, Lee, who is a veteran of AI technologies, delivered a special lecture on latest technological advances toward the “fourth industrial revolution” and their
TechnologySept. 27, 2017
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LG to inject W600b to renovate outdated Changwon factory
In preparation for the “fourth industrial revolution,” LG Electronics announced a mid-term plan to build smart production lines for major kitchen appliances in Changwon, South Gyeongsang Province, with the goals of maximizing efficiency and improving product quality. By 2022, the company will spend a total of 600 billion won ($527 million) on renovating outdated production lines in plant No. 1 of the Changwon complex, about 300 kilometers southeast of Seoul.The renewed lines will produce kitchen
TechnologySept. 27, 2017
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Korea exports to remain solid in Q4: KOTRA
South Korean exports are expected to remain solid in the fourth quarter despite a slowdown in the pace of growth, the country's trade promotion agency said Wednesday. The leading export index for the October-December quarter stood at 59.7, slowing down from 63.9 in the previous quarter, the Korea Trade-Investment Promotion Agency said in a statement. "KOTRA's leading export index declined as Japanese steel and Chinese petrochemicals buyers plan to reduce their import volumes from South
EconomySept. 27, 2017
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[ITU 2017] KT highlights 5G era push at ITU
BUSAN – From a smart air quality monitoring device to a solution that allows a gigabit internet speed with traditional telephone wires, telecommunications giant KT has showcased its solutions and products running on its high-speed network infrastructure at the ITU Telecom World, a UN-backed annual ICT conference held through Thursday in Busan.The Korean telecom firm has been participating in the annual ICT conference every year since 2015, and this year’s event is especially important for the fi
TechnologySept. 27, 2017
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[ITU 2017] ‘Korea needs strategic 5G road map’
BUSAN -- Korea needs to have a strategic roadmap for the fifth-generation network as the commercial launch of the 5G network is no longer subject to question but will soon become a reality, according to ITU’s standardization chief.The next-generation mobile network, 5G, will serve as a key role in future data-oriented technologies, including artificial intelligence, the Internet of Things, connected cars, virtual reality and the smart home. “We have so far been too focused on demonstrating the p
TechnologySept. 27, 2017
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Kia releases subcompact sedan tailored for China
Dongfeng Yueda Kia, a joint venture between Kia Motors and Dongfeng Motor, released the Pegas subcompact sedan designed exclusively for the Chinese market to improve sales there, the company said Wednesday.The sedan unveiled at the 2017 Auto Shanghai show targets Chinese urban drivers looking for an economical and efficient first car.Boasting maximum safety among cars in the same segment, the rear disc brakes and back warning system and immobilizer are installed in key trims, the company said. D
MobilitySept. 27, 2017
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KT's smart GiGa Genie helps, connects users
KT has notched up its smart home artificial intelligence technology this year, introducing voice command-based AI dubbed GiGa Genie.The Internet of Things television set-top was created to realize smart home technology by recognizing voice commands, according to the company. The 21.2-centimeter-tall cylindrical device was launched January this year.“The AI-based set-top is a cluster of technologies developed by KT on years of operation as the country’s leading GiGA Internet and IPTV service prov
IndustrySept. 27, 2017
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Companies’ entertainment expenses drop 15% after anti-graft law
South Korean companies spent 15 percent less on entertainment in the first half of this year compared to the same period last year, a study on the impact of the anti-graft law showed Wednesday.Marking the first year of the “Kim Young-ran law,” which came into effect on Sept. 28 last year, CEOScore, a local corporate tracker, studied 139 companies among the top 500 firms here that filed entertainment expenses in their regulatory filings. The companies spent an average 97 billion won ($85.1 millio
IndustrySept. 27, 2017
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Korean households' excess funds shrink in Q2
Excess funds held by South Korean households fell in the second quarter of this year from a quarter earlier on increased purchases of new houses, data showed Wednesday.Surplus funds held by households here, including nonprofit organizations, totaled 10.5 trillion won ($9.2 billion) during the April-June period, compared to 14.1 trillion won in the previous quarter, according to preliminary data from the Bank of Korea.The BOK said the decline is blamed on new home purchases. The number of ho
EconomySept. 27, 2017
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Samsung, LG to invest W10.5tr in phone, home appliances by 2020
South Korea's leading tech giants -- Samsung Electronics Co. and LG Electronics Inc., -- said Wednesday they will invest a combined 10.5 trillion won ($9.21 billion) by 2020 to develop advanced technology for cell phone and home appliances.Kim Jong-ho, the head of electronic appliances at Samsung Electronics and Song Dae-hyun, home appliance division chief at LG Electronics, announced their domestic investment plan in a meeting with Paik Un-gyu, Minister of Trade, Industry and Energy, along with
TechnologySept. 27, 2017
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S. Korea's risk premium hits 19-month high on NK woes
South Korea's credit default risk has reached a 19-month high on escalating tensions over North Korea's weapons programs, market sources said Wednesday.The credit default swap premium for South Korean foreign exchange stabilization bonds with a five-year maturity came to 74.09 basis points Tuesday, the highest since the 78.86 basis points recorded Feb. 11, 2016.The risk premium also marked a five-session streak of gains and was up 8.69 basis points from five days earlier.The spread reflects the
MarketSept. 27, 2017
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Volkswagen Korea names new head
Volkswagen Korea has appointed Stefan Krapp, a former marketing expert at its Seoul branch, as its new managing director, effective from Oct. 1, the company said Wednesday. Krapp replaces Thomas Kuehl whose four-year term largely involved dealing with issues related to an emissions scandal. Stefan Krapp is is named as managing director of Volkswagen Korea. (Volkswagen Korea)“Korea is one of the leading countries in the global automotive industry and (a) strategic market for (the) Volkswagen bra
MobilitySept. 27, 2017
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SK head visits Japan amid Toshiba deal
The chief of South Korean conglomerate SK Group on Wednesday departed for Japan, fanning speculation that the consortium that includes its affiliate SK hynix Inc. is in the process of finalizing a deal to take over Toshiba Corp.'s memory business, a company official said.Earlier this month, Japanese Toshiba's board of directors decided to sell its chipmaking unit to the consortium, which also includes Bain Capital and the Development Bank of Japan, as well as Apple Inc. and Dell Inc.Toshiba has
TechnologySept. 27, 2017
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LG Chem, Samsung SDI showcase cutting-edge battery tech at fair
South Korean battery makers, such as LG Chem Ltd., showcased their latest battery products at a local trade fair Wednesday, with visitors having a chance to peek into the latest technologies being developed in the burgeoning sector.At the InterBattery 2017, which runs through Friday in Seoul, LG Chem rolled out "Free Form" batteries, which can be easily customized into various products, such as IT and wearable devices. (Yonhap)The country's top chemical firm also showcased round batteries that c
TechnologySept. 27, 2017