Most Popular
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South Korean author Han Kang wins 2024 Nobel Prize in literature
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NewJeans’ Hanni to attend National Assembly audit as witness
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Exploring works of Han Kang
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North Korea already cut off inter-Korean roads in Aug.: JCS chief
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Han Kang declines press conference, not to celebrate, citing global wars
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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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Han Kang's 'first reactions' after winning the Nobel Prize
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Teenage N. Korean defector shares horrific story of life in reclusive regime
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BTS’s V and RM celebrate Han Kang’s Nobel Prize in literature win
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[Graphic News] First marriage age rises to 34 for men, 31.5 for women
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HMM deploys 2 new ships to cope with soaring freight rates
South Korea's leading shipper, HMM Co., said Monday it has deployed two additional ships to cope with soaring freight costs amid the new coronavirus pandemic. HMM will operate two additional 16,000 twenty-foot-equivalent unit (TEU) ships, according to the Ministry of Oceans and Fisheries. TEU is a measure used for the capacity of container transportation. The launch came around a month earlier than the original schedule of April. South Korea earlier announced a plan to add eight shipping vess
March 22, 2021
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Korean midsized satellite launched into space
A South Korean midsized observation satellite was successfully launched into space Monday, the Korean government announced. The Ministry of Science and ICT in Seoul said the 540-kilogram satellite, loaded on Russia’s Soyuz-2.1a rocket, lifted off from Russia’s Baikonur Cosmodrome in Kazakhstan, around 50 days after the satellite arrived at the launch site. The ICT Ministry added that the ground station made its first contact with the satellite 102 minutes after the launch and a
March 22, 2021
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Samsung launches new high-resolution monitors
Samsung Electronics Co. on Monday launched its 2021 lineup of high-resolution monitors as the South Korean tech giant eyes to increase sales amid the rising trend of remote working and distance learning. Samsung said 12 different monitors across three series -- the S8, S7 and S6 -- are released globally, with all models offering more than 1 billion colors, a 178-degree wide viewing angle and enhanced High Dynamic Range 10 technology. In South Korea, 10 models are available with price t
March 22, 2021
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[Advertorial] LG Energy Solution widens battery ‘super gap’ through technology dominance
LG Energy Solution is widening a “super gap” with its competition based on know-hows accumulated throughout 30 years of battery business. According to South Korea’s leading battery firm, it poured more than 5.3 billion won ($4.6 billion) into research and development over the past decade and secured 23,610 battery patents as a result, which is at least 10 times as many as that of a leading Chinese battery player as of last year. Equipped with more than 2,500 R&D perso
March 22, 2021
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Hanwha secures Korea’s first mixed hydrogen combustion tech
Hanwha General Chemical said Monday that it had become the first South Korean company to own mixed hydrogen combustion technologies. Mixed hydrogen combustion burns natural gas together with hydrogen to generate electricity. This method of generating electricity can cut carbon emissions by more than 30 percent, according to Hanwha Group’s chemicals unit, and can significantly reduce nitrogen oxide emissions, which cause fine dust issues. “Hanwha General Chemical acquired a 100
March 22, 2021
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European firms ‘optimistic’ about doing business in Korea: survey
European companies operating here are generally optimistic over Seoul’s growing importance as business venue but also pointed out the rigid regulatory environment, the European Chamber of Commerce in Korea said Monday. According to the Business Confidence Survey 2020, 51 percent of respondents said that South Korea’s strategic importance is increasing, while 41 percent replied that its importance remains the same as before. A year earlier, only 34 percent recognized the country&rsq
March 22, 2021
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ViGenCell plans IPO in Q3
Biotech firm ViGenCell plans to list its shares on the local bourse in the third quarter of this year in an initial public offering, the company said Monday. Commissioned by the bourse operator Korea Exchange, two independent expert groups have recently conducted a review of the company’s biotech assets, growth potential and business operations and have cleared it for the flotation, ViGenCell said. Following the initial approval, the company plans to apply for the Korea Exchange&rsquo
March 22, 2021
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Seoul stocks down for 2nd day amid bond yield woes
South Korean stocks lost for the second consecutive session Monday as investors' concerns about the increase in bond yields reduced their appetite for risky assets. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.07 points, or 0.13 percent, to close at 3,035.46 points. Trading volume was moderate at about 903 million shares worth some 13.1 trillion won ($11.6 billion), with losers outnumbering gainers 456 to 389. Foreigners sold a net
March 22, 2021
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Coupang becomes hottest foreign stock for Koreans in debut week
South Korean investors‘ net capital inflow into Coupang shares came to $87.5 million in its first week on the New York Stock Exchange, data showed Monday. The figure was the highest among foreign stocks during the cited period, according to data from the Korea Securities Depository. Among Korea-based foreign stock traders, Coupang in its first five trading days was hotter than US electronic devices giant Apple, US gaming firm Roblox, SoftBank’s internet subsidiary Z Holdings and e
March 22, 2021
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Majority of Koreans pessimistic about job market this year: survey
More than half of South Koreans believe that the nation’s labor market will further deteriorate this year, compared with the conditions before the COVID-19 pandemic, a survey conducted by a think tank here showed Monday. Some 77 percent of Koreans said in the survey commissioned by the Korea Economic Research Institute that the nation’s job market is likely to worsen compared with conditions in 2019. Of the 77 percent, 44.6 percent believe that the market will “extremely deter
March 22, 2021
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Mando clinches suspension parts supply deal with Volkswagen
South Korean auto parts maker Mando said Monday that it had signed a strategic partnership deal with German automaker Volkswagen to provide some 50 suspension units. It is the single-largest order that Mando has received for the given product category. Starting June next year until 2033, the Korean company will manufacture and supply the parts directly in Europe, with an anticipated annual production capacity of 6 million units. Connecting a vehicle to its wheels, suspension units -- typica
March 22, 2021
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Household income surplus surges as people cut spending
South Korea’s household income surplus increased sharply last year as people tightened their belts to weather the protracted economic slowdown triggered by the COVID-19 pandemic, data showed Monday. The nation’s household income surplus rate posted 32.9 percent, 32.3 percent, 30.9 percent and 30.4 percent, respectively, in the first through fourth quarters of 2020, according to a report from Statistics Korea. The figure has surpassed 30 percent only five times since 2003, when the
March 22, 2021
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Samsung launches customizable water purifier in S. Korea
Samsung Electronics Co. on Monday launched a customizable water purifier in South Korea as the tech giant eyes to expand sales amid the pandemic-induced stay-at-home trend. Samsung said the BESPOKE water purifier, which was first unveiled at the all-digital Consumer Electronics Show 2021 in January, is now available in South Korea at prices between 739,000 won ($650) and 1.299 million won. The overseas launch schedule of the product has yet to be determined, Samsung added. The new water pu
March 22, 2021
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Imported commercial car sales fall 24% in February
Sales of imported commercial vehicles in South Korea fell 24 percent in February from a year earlier on lower demand amid the extended coronavirus pandemic, an industry association said Monday. The number of newly registered imported commercial vehicles fell to 261 units last month from 344 a year earlier, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement. Sales of all imported commercial vehicles declined last month as COVID-19 containment measures and u
March 22, 2021
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LG Electronics still mulling fate of its smartphone biz
LG Electronics Inc. is still mulling the fate of its money-losing mobile business, industry insiders said Monday, amid rumors that the South Korean tech giant may shut down the unit instead of selling it. In January, LG announced its mobile communications division is open to "all possibilities" for its future operations after years of poor performance. LG's mobile business has been in the red since the second quarter of 2015. Its accumulated operating losses reached nearly 5 trilli
March 22, 2021
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S. Korea to raise W400b for tech innovation fund
South Korea said Monday it plans to raise 400 billion won ($354 million) through 2024 to support businesses seeking to innovate their products and services by utilizing high-end technologies. The first batch of the digital technology innovation fund, amounting to 102 billion won, will be rolled out throughout this year, according to the Ministry of Trade, Industry and Energy. The amount surpassed the original target of 80 billion won. The fund, raised jointly by the public and private financ
March 22, 2021
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S. Korea's pet fish market to grow 35% by 2025
South Korea said Monday it will seek to expand the size of the local pet fish market by 35 percent through 2025 by developing more homegrown species while encouraging the public to adopt them. Under the goal, the size of the local pet fish market will reach 657 billion won ($581 million) in 2025, up 35 percent from 487.3 billion won tallied in 2020, according to the Ministry of Oceans and Fisheries. Over the period, the number of farms raising pet fish will increase to 186 from the current 151
March 22, 2021
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Kepco keeps electricity rate amid virus pandemic
The state-run Korea Electric Power Corp. (KEPCO) on Monday said it has decided to maintain the current electricity rate for the second quarter despite increased fuel costs, in line with the country's efforts to ease the burden on the public amid the virus pandemic. KEPCO adopted flexible electricity rates linked to global fuel prices this year, in a move to improve its profitability. South Koreans were previously charged under a fixed-rate electricity billing system. Under the current system,
March 22, 2021
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LG Uplus opens first unmanned store amid pandemic
LG Uplus Corp., a major South Korean telecom operator, said Monday it has launched its first store that operates without the help of retail workers, joining other mobile carriers to offer services that minimize physical contact amid the coronavirus pandemic. LG Uplus' new store in Seoul's central ward of Jongno incorporates automation technology, such as digital kiosks that allow customers to change their data plans and buy new phones or USIM cards without the help of store workers. Customers
March 22, 2021
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Samsung claims its wireless earbuds effective for people with hearing impairments
Samsung Electronics Co. said Monday its study showed its Galaxy Buds Pro wireless earbuds could help people with hearing impairments. The study, which was published last week in Clinical and Experimental Otorhinolaryngology (CEO), a renowned scientific journal dedicated to ear, nose and throat research, suggested that the Galaxy Buds Pro's Ambient Sound feature could assist those with mild to moderate hearing loss to better engage in conversation with others, according to Samsung. Its Ambien
March 22, 2021