Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Korea eyes world No. 3 spot in digital competitiveness by 2027
The South Korean government on Wednesday unveiled a blueprint to become a global leader in digital innovation with the goal of becoming the world's third most digitally competitive by 2027. "We will bring up our global (artificial intelligence) competitiveness to No. 3 in the world and double the data market size to 50 trillion won ($34.7 billion) or bigger," said President Yoon Suk-yeol as he chaired the eighth pangovernmental meeting on economy and people's livelihood at the Kimdaej
Sept. 28, 2022
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Seoul stocks sink to over 2-year low on recession woes; Korean won at over 13-yr trough
Seoul stocks dropped to the lowest level in more than two years and the Korean won tumbled to a 13-year low Wednesday on deepening concerns over a global recession in the wake of aggressive monetary tightening in major economies. The benchmark Korea Composite Stock Price Index (KOSPI) fell by 54.57 points, or 2.45 percent, to end at 2,169.29, the lowest since July 20, 2020, when the market closed at 2,198.20. The KOSPI dived more than 3 percent on Monday before inching up 0.13 percent the
Sept. 28, 2022
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Korean businesses show greater appetite for vegan foods
With fast-growing interest in eco-friendly lifestyles, South Korean food companies are expanding plant-based menu items and restaurants to cater to the growing global vegan population of some 180 million. Nongshim, the country’s leading instant noodle maker, said Thursday it has launched eight kinds of plant-based "cup rice" (rice bowl with toppings), and porridge, in partnership with vegan restaurant Doosoogobang. Instead of spicy meat, cup rice comes with toppings such as na
Sept. 28, 2022
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Samsung insurers to invest $650m in Blackstone alternatives portfolio
Samsung Group’s insurance units signed a deal worth $650 million with US-based private equity firm Blackstone to expand its global alternative asset portfolio, the Korean insurers said Wednesday. Samsung Life Insurance and non-life insurer Samsung Fire & Marine Insurance will invest in overseas real estate, infrastructure and private equities managed by Blackstone through the latest deal. The investment will be managed by Samsung’s asset management arms Samsung Asset Management and
Sept. 28, 2022
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Posco, Apporium team up to produce blue hydrogen
Posco Group said Wednesday its two affiliates – Posco Holdings and Posco E&C – have signed a memorandum of understanding with the nation’s largest hydrogen production and sales company Approtium in a fresh push for hydrogen business. Under the agreement, the three companies will invest a combined 200 billion won ($139 million) by 2026 into establishing facilities for hydrogen production. The annual production capacity is expected to reach 40,000 tons. Approtium, based in the
Sept. 28, 2022
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LG publishes 1st groupwide ESG report
South Korea's consumer electronics-to-battery conglomerate LG Group has published its first annual report that revolves around its groupwide efforts to tackle environmental, social and governance issues, a holding company LG Corp. announced Wednesday. This is in line with the group's push to disclose nonfinancial performance such as actions to fight climate change, reduce and recycle waste, offer financial supports to vendors and local communities, as well as ensure boardroom diversity
Sept. 28, 2022
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Samsung Biologics earns gold status in EcoVadis' CSR rating
Samsung Biologics has scored a “Gold Sustainability Rating” from global business evaluator EcoVadis for its sustainability efforts, the South Korean contract development and manufacturing organization company said Wednesday. According to Samsung Biologics, the CDMO giant received a score of 71 out of 100, up 14 points from the silver rating it earned last year. The company was among the top 5 percent of more than 100,000 firms in 200 industries across 175 countries assessed by EcoVad
Sept. 28, 2022
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[Herald Interview] Why Korean chip engineers should watch next-gen standard
More servers require faster semiconductor speeds in high performance computing technologies, to meet the growing demand for big data analytics and autonomous mobility. But a disparity in transfer speed between processors and memory chips have long been an obstacle for further computing system performance improvement, often creating a network bottleneck within a chipset. This is why memory chip engineers should get a load of the next-generation interconnect standard blueprints, although they are
Sept. 28, 2022
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KT, AMC Networks ink content partnership deal
South Korean telecommunications giant KT is looking to expand the content provided on its streaming service Olleh TV through a partnership with US cable channel operator AMC Networks. KT said Wednesday it had signed a partnership with AMC Network’s content production arm AMC Studios on Tuesday to launch the producer’s original series on its platform and to participate in joint productions. With the new agreement, Olleh TV subscribers will gain access to AMC originals including popula
Sept. 28, 2022
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Samsung insurers to expand global alternative investment via Blackstone
Samsung Group's insurance affiliates said Wednesday they have signed a deal with US asset management behemoth Blackstone Inc. to invest some $650 million in alternative assets, such as real estate and infrastructure facilities. The two -- Samsung Life Insurance Co. and Samsung Fire & Marine Insurance Co. -- will chip in the amount in the alternative fund managed by Blackstone. In recent years, Samsung's financial firms have been aggressively pushing for global investment. Samsung Life
Sept. 28, 2022
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Hyundai IONIQ 5 named one of Wards 10 best engine systems
The EV-only powertrain on Hyundai Motor Co.'s all-electric IONIQ 5 was named one of the Wards 10 Best Engines & Propulsion systems, the company said Wednesday. The IONIQ 5 was selected for its performance, charging capability, range and price, Hyundai Motor said in a statement. The South Korean carmaker has won 15 Wards 10 Best Engines & Propulsion systems recognitions since the annual awards were established in 1995. "The IONIQ 5 redefines the modern vehicle, not only from the propuls
Sept. 28, 2022
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European biz advocacy group calls for clarity, flexibility in S. Korea's EV regulations
The European Chamber of Commerce in Korea (ECCK) on Wednesday called for South Korea to consider revising regulations on electric vehicles and several other key sectors to provide more procedural clarity and flexibility in line with international standards. The ECCK made the recommendations to the South Korean government in its latest annual white paper for this year, which contains a total of 96 comments on the regulatory issues across 18 industries, including automotive, energy and environment
Sept. 28, 2022
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S. Korea's global digital competitiveness ranking climbs to 8th spot: IMD
South Korea's global ranking in terms of digital technology competitiveness climbed to No. 8 this year, the science ministry said Wednesday, citing the International Institute for Management Development (IMD). According to the ministry, South Korea climbed four notches from last year's 12th spot in the 2022 IMD World Digital Competitiveness Ranking report. The country ranked 19th in 2017 and later reached the 14th and 10th spots in 2018 and 2019, respectively. The IMD, a Switzerland-ba
Sept. 28, 2022
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Seoul shares open lower on recession woes
South Korean stocks opened lower Wednesday, tracking overnight losses on Wall Street, amid lingering concerns over the impact of aggressive monetary tightening in major economies on growth momentum. The benchmark Korea Composite Stock Price Index (KOSPI) shed 11.98 points, or 0.54 percent, to 2,211.88 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average shed 0.43 percent, while the tech-heavy Nasdaq Composite inched up 0.25 percent. The market has been in disarray, wit
Sept. 28, 2022
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Sales of top 500 firms jump 39% over 10 years
Sales of South Korea's top 500 firms have soared nearly 40 percent over the past 10 years with the information technology and electronics sector taking up the biggest share, a corporate tracker said Wednesday. The combined top line of the leading businesses stood at 3,286 trillion won ($2.3 trillion) in 2021, up 39 percent from a decade earlier, according to CEO Score. The IT, electronics and electric industry accounted for the largest percentage of the total at 17.3 percent last year, up 3
Sept. 28, 2022
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Recession fears raise concerns on shaky Kospi
South Korea’s benchmark Kospi tumbled to a fresh intraday low Tuesday in 26 months, led by a sell-off by foreign investors pricing in a sharp US downturn prompted by tighter policy to corral inflation. The index pared the losses later the day, adding 2.92 points or 0.13 percent to 2,223.86. In the afternoon, the main board slid to an intraday low of 2,197.90, the lowest level since July 24, 2020, when it reached 2,195.49. Institutional investors purchased net 245 billion won ($171 million)
Sept. 27, 2022
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Experts talk about utilizing tech for business opportunities
User experience writing, or UX writing, should be an integral part of corporate digital strategies, as it offers an easy solution to produce more effective digital spaces, experts said Tuesday at a roundtable discussion held at Herald Design Forum 2022 in Seoul. UX writing uses easy words and expressions "to architect a comfortable digital interface which ensures users to accomplish what they want,” said Shinhan Card executive Park Kwang-hoon. “UX writing is not a big innovation
Sept. 27, 2022
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'Memory downcycle could last until 2025'
SUWON, Gyeonggi Province -- The memory chip upcycle has already peaked this year, while the downcycle is projected to continue until 2025 in a worst-case scenario, an executive from the US-based market intelligence IDC said Tuesday. Kim Soo-kyoum, associate vice president of semiconductor at IDC, cited a sharp decline in consumer demand and the projected price drop over the course of three years with the introduction of new chip factories and the growing competition in NAND flash industry
Sept. 27, 2022
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GS E&C partners with BASF to modularize carbon capture solution
GS Engineering and Construction has partnered up with German chemical giant BASF to jointly modularize a carbon capture solution, which would work as the framework for their future projects, the South Korean firm said Tuesday. The latest deal would focus on co-developing and translating BASF’s OASE blue technology -- an optimized large-scale post-combustion capture technology -- into a modular carbon capture solution, according to GS E&C. OASE blue enables its user to selectively capture
Sept. 27, 2022
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[Herald Design Forum 2022] From mobility to personal space, vehicle function continues to evolve
The key function of a car will continue to evolve from being a means of transportation to a personalized living space, said Yoon Il-hun, vice president of HMC Genesis Design Group at the Herald Design Forum 2022 held on Tuesday in Seoul. “As a car becomes a space for living, the purpose of a car will evolve infinitely without boundaries," said Yoon. "This is where we are seeing growing needs from our consumers, and we are focusing on such a key design pillar — the beauty
Sept. 27, 2022