Most Popular
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Qoo10 liquidity crisis sparks massive complaints, fears of wider damage
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Yoon urges municipalities to embrace foreigners
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What is happening at Hybe?
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S. Korea to consent to Japan's Sado mines gaining World Heritage status: official
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Korea unveils tax reform bill to spur economy
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Actor’s excessive airport security sparks probe into human rights violations
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Actor Yoo Ah-in accused of sexual attack
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Man who let his father die due to financial difficulties to be released on parole
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S. Korea, China shifting from tensions to cooperation: Seoul
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LG Electronics achieves record earnings in Q2
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Illit’s ‘Magnetic’ is Spotify's most streamed K-pop track outside Korea in H1
K-pop girl group Illit’s song “Magnetic,” the featured track of its debut album “Super Real Me,” was Spotify's most streamed K-pop track outside of Korea in the first half of this year. Spotify, the world’s most popular audio streaming platform, unveiled its Global Impact List in South Korea consisting of 30 K-pop tracks that were streamed the most overseas in the first half of 2024. Illit’s “Magnetic” released on March 25 recorded 300 m
K-popJuly 25, 2024
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Korean stocks dip nearly 2% on tech, auto losses
South Korean shares dipped by nearly 2 percent Thursday as tech and auto stocks crashed following an overnight drop on Wall Street. The local currency fell slightly against the US dollar. The benchmark Korea Composite Stock Price Index lost 48.06 points, or 1.74 percent, to close at 2,710.65. Trading volume was heavy at 433 million shares worth 13.4 trillion won ($9.67 billion) with losers outnumbering gainers 728 to 160. Foreigners remained net sellers for a second straight session, dumping a n
MarketJuly 25, 2024
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Korea unveils tax reform bill to spur economy
South Korea unveiled its tax code revision bill Thursday, featuring a major overhaul of the outdated inheritance tax system and new measures to boost investment and encourage marriage. Featuring tax cuts and incentives, the plan is expected to reduce tax revenue by approximately 4.4 trillion won ($3.17 billion) over the next five years. However, the government projects that economic recovery later this year will improve revenue conditions and offset this reduction. "This year's tax rev
EconomyJuly 25, 2024
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Man who let his father die due to financial difficulties to be released on parole
A 25-year-old man currently serving a prison term for patricide will be released next Tuesday on parole, a Daegu-based civic group said Thursday. In a highly publicized case in 2021, the man was convicted after he stopped providing food and medication for his terminally ill father due to financial difficulties. The victim had been bedridden since suffering a brain hemorrhage in September 2020, not being able to eat or relieve himself on his own. But his son, who had been on his mandatory mili
Social AffairsJuly 25, 2024
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TOEIC instructor who sold test answers to test-takers sentenced to 3-year jail term
A Seoul court recently sentenced a former hagwon teacher to a three-year jail term for selling TOEIC test answers to multiple test-takers for money. The Seoul Eastern District Court found the defendant surnamed Hong guilty of obstruction of business as stipulated in Article 314 of the Criminal Act. In addition to the jail term, the court also ordered the seizure of 76.6 million won ($55,000) in assets. Investigators found that the 27-year-old defendant had committed the crimes to fund internet
Social AffairsJuly 25, 2024
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Seventeen announces world tour at fan meeting
K-pop sensation Seventeen of Pledis Entertainment concluded its eighth fan meeting with a surprise announcement of a world tour later this year. Seventeen held two editions of "2024 SVT 8th Fan Meeting (Seventeen in Carat Land)" at Gocheok Sky Dome in Seoul on Tuesday and Wednesday. The event left unforgettable memories for both the fans in attendance and those from 118 countries and regions watching live. By the end on Wednesday, Seventeen released a teaser video announcing its world
K-popJuly 25, 2024
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What is happening at Hybe?
Hybe CEO Park Ji-won has been replaced by Chief Strategy Officer (CSO) Lee Jae-sang, just three months after becoming embroiled in a dispute between Hybe and Ador CEO Min Hee-jin. The controversy began when Hybe launched an internal audit on Min over an alleged attempt at a hostile takeover of Ador on April 22 and Min held a press conference three days later to push back. Park, along with Hybe Chairman Bang Si-hyuk, were the main targets of Min, who blamed Park and Bang for failing to manage the
K-popJuly 25, 2024
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LG Electronics achieves record earnings in Q2
LG Electronics said Thursday it achieved its all-time high quarterly earnings in the April-June period this year, largely buoyed by the solid growth of its home appliance and vehicle component businesses. Sales increased 8.5 percent on-year to 21.7 trillion won ($15.7 billion) in the second quarter of this year, while operating profits soared 61.2 percent to 1.2 trillion won during the same period. The company attributed the upbeat earnings to the "balanced" management of its core busi
IndustryJuly 25, 2024
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S. Korea, China shifting from tensions to cooperation: Seoul
The vice ministers of South Korea and China committed on Wednesday to achieving tangible outcomes in their bilateral cooperation and exchanges, which have recently regained momentum, departing from the period of diplomatic chill that persisted until last year, the South Korean Foreign Ministry said Thursday. South Korea's First Vice Foreign Minister, Kim Hong-kyun, met with China's Executive Vice Minister of Foreign Affairs, Ma Zhaoxu, the highest-ranking of the vice ministers, in Seou
Foreign AffairsJuly 25, 2024
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Police seek arrest warrant for driver in deadly car crash
The police sought an arrest warrant Wednesday for the driver behind the fatal car crash that killed nine pedestrians near Seoul city hall earlier this month, according to officials on Thursday. On July 1, a sedan crashed into pedestrians waiting for a traffic light at an intersection near Exit No. 7 of Seoul’s City Hall Station in Jung-gu, central Seoul. The car drove in the wrong direction and hit the pedestrians before colliding with two other vehicles. The crash resulted in nine fatalit
Social AffairsJuly 25, 2024
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[Herald Interview] 'Lamborghinis will always have steering wheel'
Automakers around the world are racing to develop advanced technology in autonomous driving and battery-powered vehicles. But for Italian luxury supercar brand Lamborghini, those are not the main concerns. “Lamborghini will always have a steering wheel in the cars,” said Stephan Winkelmann, CEO of Automobili Lamborghini in a video interview with a group of Korean reporters after the opening ceremony of Lamborghini Bundang in Gyeonggi Province. “We might have assisted driving
MobilityJuly 25, 2024
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SK hynix Q2 earnings soar to record high on AI chip boom
SK hynix, the world’s second-largest memory chip maker by revenue, said Thursday it logged all-time-high sales of 16.4 trillion won ($11.8 billion) in the April-June period this year, riding on the robust demand for artificial intelligence chips. Reporting the second quarter's earnings, the company said it will supply the cutting-edge 12-layer HBM3E chips to customers before the end of the year, keeping its dominance in the burgeoning AI chip market. The operating profit posted 5.46 trilli
IndustryJuly 25, 2024
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GS Entec's 1st monopile shipped for major offshore wind project
GS Entec, a South Korean offshore wind power and marine equipment manufacturer, said Thursday it has successfully shipped its first turbine base, or monopile, from its Ulsan plant for the Yeonggwang Nakwol Offshore Wind Power Project. Located off the southwestern coast of Korea, the Yeonggwang Nakwol Offshore Wind Power Project is a major development expected to generate 365 megawatts of electricity, sufficient to power 87,000 homes in Korea. GS Entec secured a 200 billion won ($144 million) c
IndustryJuly 25, 2024
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Hankook & Co. invests in electrode startup for battery expansion
Korean tire giant Hankook & Co. announced Thursday a 9 billion won ($6.5 million) investment in JR Energy Solutions, a local secondary battery electrode foundry firm, in its first foray into the burgeoning EV battery market. JR Energy Solutions specializes in producing electrodes, a crucial component of secondary batteries, based on its smart factory technology. In February this year, the startup completed a 500 megawatt-hours electrode manufacturing facility in Eumseong, North Chungcheong P
IndustryJuly 25, 2024
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40% of school violence victims felt urge to self-harm: survey
Roughly 4 out of 10 students who were victims of school violence said they had felt the urge to either inflict injury on oneself or commit suicide, a survey by an NGO showed Wednesday. The Blue Tree Foundation, a group dedicated to preventing school violence and help victims, said in a press conference that 3.5 percent of the respondents in their recent survey said they had been subject to violence at school, of which 39.9 percent said they felt the urge to hurt or kill themselves. The foundat
Social AffairsJuly 25, 2024
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Dignity makes ambitious debut to ‘Cool Down’ summer
Five-member group Dignity is making an ambitious debut with “Digmotion,” its first mini album after a long hiatus following the release of its predebut song. The boy band released the predebut track “Rambo” in September 2022, but only officially debuted on Wednesday with “Digmotion.” At a press conference in Gangnam, Seoul, on Wednesday, Minseok expressed his confidence, saying, "We have prepared for a long time due to the extended break after our predebu
K-popJuly 25, 2024
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Day care centers plummet, senior facilities soar amid demographic shift
Day care centers declined by nearly 2,000 in 2023, while facilities for seniors increased by more than 3,000, reflecting Korea’s continued aging society, data showed Thursday. According to the Ministry of Health and Welfare, the number of day care centers fell by 1,969, from 30,923 in 2022 to 28,954 last year. The overall decrease was mainly driven by declining private and family day care centers. Private day care centers decreased by 840 from 9,726 to 8,886, while family day care centers
Social AffairsJuly 25, 2024
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District prosecution chief briefed on first lady's questioning before report to prosecutor general 3hrs later
The chief of the Seoul Central District Prosecutors Office was briefed on last week's questioning of first lady Kim Keon Hee more than three hours before he reported it to Prosecutor General Lee One-seok, sources said Thursday. The revelation came after the top prosecutor expressed frustrations that he had been in the dark about Saturday's questioning of Kim over a luxury bag scandal for some 10 hours, and ordered an inspection into what happened. The inspection is expected to focus on
Social AffairsJuly 25, 2024
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This summer, cucumbers take center stage
Cucumbers are having a moment in Korea. As one of the most representative vegetables of summer here, cucumbers usually star in summer dishes like cold noodles and soups as a garnish. But this season, they're more than just supporting players — cucumbers have taken center stage. On social media, cucumber gimbap is all the rage, thanks to TV celebrity Choi Hwa-jung. On her YouTube channel, Choi, 63, introduced the dish as an “easy to make, yet surprisingly delicious” dish
FoodJuly 25, 2024
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N. Korea sends some 500 trash balloons into S. Korea earlier this week
North Korea's latest round of its balloon campaign involved around 500 balloons carrying scrap paper and plastic sheets, including those that fell on the presidential office compound in the capital, South Korea's military said Thursday. In what marked the second of its kind this week alone, North Korea launched the trash-carrying balloons the previous day, as the South Korean military blared anti-Pyongyang broadcasts in full scale through its border loudspeakers in response to the repe
North KoreaJuly 25, 2024