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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Hybe taps Lee Jae-sang as new CEO
Hybe has appointed its current Chief Strategy Officer Lee Jae-sang to be the new CEO, the company said Wednesday. According to the K-pop powerhouse, Lee's appointment is to be finalized following approval at the upcoming shareholders and board of directors meetings. Lee has been selected to lead the forthcoming "Hybe 2.0" strategy, with a leadership transition project underway since the beginning of the year. Lee graduated from Yonsei University and previously worked at global man
K-popJuly 24, 2024
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Zyx Technology, Eomji House team up for interior design innovation
South Korean design software developer Zyx Technology said Wednesday that it signed a memorandum of understanding with Eomji House, an interior architecture and design firm, to foster mutual exchange and cooperation. Zyx Technology and Eomji House will collaborate on developing and refining new technologies. They will also plan innovation in the large business-to-business interior market and enhance their competitiveness through each other's technological resources. Under the partnership wi
IndustryJuly 24, 2024
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[Today’s K-pop] SHINee’s Minho heads to Paris Olympics
Minho of SHINee will join the Paris 2024 Olympics as one of the “Olympic Friends,” said label SM Entertainment Wednesday. He and actor Lee Dong-wook were selected as the first “friends” of the sporting event and promoted the Winter Youth Olympic Games Gangwon 2024 earlier this year. The veteran idol will attend the 33rd Olympic Games which open Friday and will root for the national team and promote the event. Separately, the singer and actor will return to TV screens as t
K-popJuly 24, 2024
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Source Music, Ador CEO Min locked in legal battle
Hybe subsidiary Source Music and Ador CEO Min Hee-jin are taking legal action against each other for purportedly spreading false information regarding the launch of K-pop girl group NewJeans. Source Music took to social media platform X on Tuesday to post: “Min Hee-jin’s claim that Source Music copied her (girl group) launching strategy is false.” “We did not copy the launching strategy she presented when she was the then-chief business officer at Source Music,” Sou
K-popJuly 24, 2024
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National Museum of Korea provides major grant to Smithsonian’s National Museum of Asian Art
The National Museum of Korea will award the Smithsonian’s National Museum of Asian Art $1.4 million as part of its overseas Korean Galleries Support Program. It marks the largest grant ever awarded by Korea's state-run museum to any institution. The grant will be awarded over four years to help the museum expand the program that aims to deepen the public's interest in Korean art and culture. The program includes reinstalling the museum’s permanent collection of Korean art i
Arts & DesignJuly 24, 2024
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Shareholder activism in Korea ‘partial success’: SquareWell
While shareholder activism is yet to take full hold in South Korea with only a handful of initiatives making it past the vote, activist investors seem to have gained traction here in recent years. According to London-based shareholder advisory SquareWell Partners' recent report, Korean firms are increasingly being targeted by activist investors, with the number soaring from nine in 2020 to 71 in 2023. Still, many of the recent activist campaigns have failed to win a majority of shareholder
MarketJuly 24, 2024
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North Korean trash balloon falls on Seoul presidential office
At least one North Korean balloon carrying trash landed on the grounds shared by the South Korean presidential office and the National Defense Ministry in Yongsan, central Seoul, on Wednesday morning. South Korea’s Presidential Security Service said that some trash dropped by the North Korean balloon was identified on the grounds of the Yongsan presidential office and the adjacent defense ministry. The balloon contained mostly scraps of paper and plastic, according to the South Korean mili
PoliticsJuly 24, 2024
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Seoul shares close lower on tech, auto losses
Seoul shares closed lower Wednesday as most tech stocks and autos finished in negative terrain. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) lost 15.58 points, or 0.56 percent, to close at 2,758.71. Trade volume was moderate at 458.6 million shares worth 10.9 trillion won ($7.87 billion) with losers outnumbering gainer 489 to 368. Foreigners offloaded a net 271.7 billion won worth of local shares, while institutions and retail investors n
MarketJuly 24, 2024
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Seoul vows W106.5b to support youth exiting foster care
The Seoul Metropolitan Government announced Wednesday that it would spend 106.5 billion won ($76.9 million) over the next five years to help youth transitioning out of foster care or child care institutions to adjust to independent living, becoming the first local government to do so in South Korea. The city government’s plan includes providing job consultation services, raising independent living capabilities, subsidizing living costs and providing additional help in adjusting to society
Social AffairsJuly 24, 2024
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K-pop industry raked in $900 million from overseas last year, data shows
With all the hype surrounding the K-pop industry, how much does it actually earn? The Korea Culture and Tourism Institute sought to answer this question with data, which revealed that the K-pop industry raked in nearly $900 million from overseas last year. In 2023, the estimated overseas sales of K-pop amounted to 1.24 trillion won ($893 million), exceeding 1 trillion won for the first time, according to the government-run organization's report on Wednesday. Compared to the previous year, K
CultureJuly 24, 2024
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Han begins as PPP chief; Yoon calls for unity
The new ruling People Power Party leadership kicked off its first day by highlighting unity amid concerns over lingering tensions between President Yoon Suk Yeol and newly elected party Chair Han Dong-hoon. The two met for dinner at the presidential office in Yongsan-gu in Seoul at the invitation of the president, Yoon's office said, noting that the meeting was intended to nurture "a grand harmony." Han was invited along with some other contenders at the party's national conv
PoliticsJuly 24, 2024
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LG Chem’s US partner starts phase 2 trial on rare obesity drug
LG Chem announced on Wednesday that Rhythm Pharmaceuticals, which had acquired the global license for LB54640 -- a new oral drug for a rare form of obesity developed by LG Chem -- has begun giving doses to the first participants in a phase 2 clinical trial. For the phase 2 trial, Rhythm Pharmaceuticals recruited 28 patients aged 12 and older with hypothalamic obesity -- a condition caused by congenital or acquired damage to hypothalamic function, resulting in difficulties in appetite control. Th
CompaniesJuly 24, 2024
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Genesis to sponsor New York's Met through new art initiatives
Hyundai Motor Group’s premium auto brand Genesis on Wednesday announced a five-year partnership with the Metropolitan Museum of Art in New York to provide various inspirational experiences for global audiences visiting the museum. The partnership marks the beginning of Genesis Art Initiatives, established to celebrate art as an authentic experience to discover truly meaningful and valuable aspects of life. Genesis will support the Met’s annual contemporary art commission series for t
MobilityJuly 24, 2024
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Over half of Korea's outpatient visits last under 5 minutes: study
Over half of outpatients in South Korea spent under five minutes with their doctor during medical appointments last year, a study showed Wednesday. The study, commissioned by the Health Ministry and conducted by the Korea Institute for Health and Social Affairs, gathered responses from 14,910 individuals between July 24 and Sept. 22 last year. Its findings show that 55 percent of respondents reported spending less than five minutes with their doctor, with 17.6 percent saying consultations lasted
Social AffairsJuly 24, 2024
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Largest doctors' group pulls plug on joint committee
South Korea's largest doctors' group said Wednesday that it has decided to pull the plug on a joint committee launched last month to take unified action against the government's planned medical school expansion, after other groups called on it to disband. The Korean Medical Association issued a statement stating that the committee would cease operations after Friday, when its forum to discuss how to salvage the country's health care is scheduled to take place. "The decis
Social AffairsJuly 24, 2024
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[LLG] After diving head-first into webtoons, creator learns folly of naive optimism
Many dream of leaving their mundane jobs to pursue something creative and original. Only a few actually take the leap, and even fewer succeed. But it's usually only the stories of the successful that get told; this is not one of those stories. For Dang Yeon-hee, a 34-year-old aspiring webtoon artist in Gyeonggi Province, the journey has entailed many disappointments and painful lessons about harsh realities. It has ultimately turned into a path of self-discovery, rather than one leading
Hashtag KoreaJuly 24, 2024
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[KH Explains] $17b too low? Korea’s Czech nuclear bid faces profitability questions
The South Korean government recently celebrated a significant milestone: The state-run Korea Hydro & Nuclear Power was chosen as the preferred bidder for a nuclear power project in the Czech Republic valued at 24 trillion won ($17.3 billion). It is being hailed as a “remarkable achievement after 15 years” by the government, reminiscent of a $20 billion nuclear plant deal in the United Arab Emirates in 2009. However, not everyone shares the government’s enthusiasm. Some expe
IndustryJuly 24, 2024
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[Herald Review] 'Deadpool and Wolverine' is salute to Marvel fans
Fueled by fans' excitement to see two beloved superheroes together in the Marvel Cinematic Universe for the first time, "Deadpool and Wolverine" is currently the talk of the town here. Despite its R-rated status, as of Wednesday, the film achieved a 46.5 percent pre-sale rate with more than 210,000 tickets sold in advance. The pre-sale rate is nearly three times higher than that of its competitors, such as "Pilot" (18.2 percent) and "Despicable Me 4" (10.2 pe
FilmJuly 24, 2024
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KIAT to support tech firms with regulatory sandbox
Korea Institute for Advancement of Technology is collaborating with the Ministry of Trade, Industry and Energy to bolster financial and direct investment support for companies approved under their collaborative regulatory sandbox. On Wednesday, KIAT hosted the first Investor Relations Day event for companies joining the regulatory sandbox initiative in Seoul. The event featured business presentations and one-on-one funding consultations. The regulatory sandbox permits the government to temporari
IndustryJuly 24, 2024
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Why are K-pop powerhouses advancing into Latin America?
JYP Entertainment announced last Thursday that it will establish a Latin America subsidiary in the third quarter of this year. The move is aimed at expanding its local business and better communicating with fans from the region. Ahead of JYP, the agency behind popular K-pop bands Twice, Stray Kids and Itzy, was Hybe, the powerhouse behind BTS, Seventeen and NewJeans. Hybe established a foothold in the Latin market with the opening of a Mexico-based business unit in November last year. The compan
K-popJuly 24, 2024