Most Popular
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S. Koreans' happiness rising slowly but surely: presidential panel
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No. of depression patients exceeds 1m in 2022
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Seoul subway fare to rise 12% beginning Saturday
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Races tighten in Seoul as parties battle for Assembly control
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Korean Air to submit new merger plan to ease antitrust concerns
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US House votes to remove Speaker Kevin McCarthy
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US calls on China to encourage N. Korea's return to diplomacy
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6-year-old Uzbek girl found dead in Daegu
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Korea to begin experiment with central bank digital currency
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22 Chinese apprehended after illegal entry attempt
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LG CNS joins forces with Korea University to foster AI talent
Information technology service provider LG CNS said Thursday it has inked a deal with Korea University to nurture future talent in the burgeoning field of artificial intelligence and data science. Under the new industrial-academic partnership, a department temporarily named “AI and Data Science” will be set up at Korea University’s graduate school, and students will receive a job offer at the company upon graduation. Starting next year, the department plans to admit over 20 gra
Sept. 14, 2023
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Posco to supply EV parts to Hyundai Motor
Posco International announced Wednesday it has signed with Hyundai Motor Group to supply an additional 3.53 million units of motor core, ramping up its presence in the global mobility industry. Under the contract starting from 2026, Posco International will provide 2.72 million units of motor core to Hyundai Motor Group Metaplant America, the carmaker’s first EV plant in the US, for eight years. The other 810,000 units will be supplied to Hyundai’s EV production at home for 10 years.
Sept. 14, 2023
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Fledgling upcycling startup dreams big to save sea
The coast of Ulsan, a major industrial city in the southeast, was once a site where pods of gray whales were easily spotted, a scene that has become rare as marine pollution and whale hunts took a toll. Among the factors that made the whales disappear, the marine waste issue was what inspired Byun Eui-hyun, CEO of Usisan, to start a business to help clean up the ocean and save the endangered largest animal on Earth from dying from ingesting plastics. "We are the first plastic upcycling comp
Sept. 14, 2023
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Samsung's giant billboards become operational at Vatican
Samsung Electronics Co. has finished installing four LED billboards at St. Peter's Square in the Vatican, where the Pope gives his weekly address. Samsung's billboards became operational in time for the Papal Audience, the general audience session held every Wednesday morning for Catholic followers and tourists visiting the revered sanctuary. A Samsung delegation visited the Vatican to meet Pope Francis on Wednesday morning to mark the installation, before meeting Cardinal Lazarus You
Sept. 14, 2023
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SMEs agency aids local firms' entry into overseas markets
The Korea SMEs and Startups Agency is supporting local firms to enter overseas markets, with 30 medium-sized companies receiving overseas media promotion and marketing services in the most recent campaign carried out in August. The campaign was conducted in partnership with a global communication company with an extensive PR network worldwide. English-language releases on the selected 30 companies were distributed to North American online media outlets, including newspapers, broadcasters, teleco
Sept. 14, 2023
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Industry minister nominee vows swift restoration of nuclear energy ecosystem
South Korean Industry Minister nominee Bang Moon-kyu vowed Wednesday to expedite efforts to restore and further develop the ecosystem of the country's nuclear power generation industry to better achieve net-zero goals and energy security. During a parliamentary confirmation hearing, Bang also pledged efforts to boost exports amid unfavorable global business circumstances and to strengthen cooperation with the United States, Japan and other partners on stable supply chains in advanced indu
Sept. 13, 2023
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$6b financial package unveiled to empower African nations
South Korea's Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho on Wednesday announced a financial package of approximately $6 billion in support for Africa to be provided by 2025, at the 2023 Korea-Africa Economic Cooperation (KOAFEC) conference held in Busan. This biennial conference, spanning four days from Tuesday to Friday, is jointly hosted by the African Development Bank, the Export-Import Bank of Korea (Eximbank) and Ministry of Economy and Finance. The new fin
Sept. 13, 2023
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[Photo News] Sold out
Samsung Electronics said Wednesday that more than 110,000 people applied to order the Galaxy Z Fold5 Thom Browne Edition during the seven-hour lottery event held via its website on Tuesday. The limited-edition bundle, priced at 4.29 million won ($3,230), includes a phone, a smartwatch and accessories featuring the American fashion house’s color scheme. (Samsung Electronics)
Sept. 13, 2023
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BBQ Chicken catches US food magazine’s eye
Korean fried chicken franchise Genesis BBQ on Wednesday said BBQ Chicken was introduced as the leader of the K-chicken craze in the United States in a recent report by Quick Service Restaurant magazine. Last month, QSR, a US publication that covers the fast food restaurant industry, released an article that highlights BBQ Chicken’s distinctive strategies behind its sharp growth in the country. The “mouth-watering” crispy Korean fried chicken BBQ is rapidly expanding its presenc
Sept. 13, 2023
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Innocean named 2nd best advertising agency in Indonesia
Innocean Worldwide said Wednesday that its Indonesian unit was named the second-best agency of the year by Campaign Brief Asia, a global online portal specialized in marketing and advertising. Campaign Brief Asia assessed firms in Indonesia based on their history of receiving creative awards and an internal evaluation, conferring second place to Innocean Indonesia in the Agency of the Year 2023 ranking on Sept. 7. Despite being a relative newcomer to the Indonesian market, the firm outpaced reno
Sept. 13, 2023
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6 in 10 view chaebol favorably: FKI survey
Nearly 60 percent of Koreans expressed a favorable view of the country's chaebol -- large industrial conglomerates run and controlled by families -- indicating an improvement in negative sentiments toward these conglomerates over the past decade, according to a survey conducted by the Federation of Korean Industries. The survey, commissioned by the business organization, which includes over 600 members among Korean companies and industries, was conducted on a total of 1,005 individuals aged
Sept. 12, 2023
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[From the scene] Why Adidas shop owners in Korea are protesting
The South Korean unit of the global sports brand Adidas has been hit with backlash from its franchisees who claim that they have been subjected to years of repeated abuse of power from their parent corporation -- only to have their business contracts terminated via the head office’s unilateral announcement. The Adidas Franchisee Association -- comprising 76 Adidas Korea franchisees out of some 100 across the country -- said Tuesday it reported Adidas Korea to the Federal Trade Commission f
Sept. 12, 2023
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Coupang Play outpaces streaming rivals
Korean streaming platform Coupang Play has showed the fastest year-on-year subscriber growth in the country, outpacing other local and global competitors to reach a milestone 6 million subscribers last month, less three years since its launch, according to a ranking announced by WiseApp on Friday. A total of 6.34 million people were subscribing to Coupang Play as of last month, according to WiseApp, which analyzes user behavior of mobile applications, in its August analysis of the number of subs
Sept. 12, 2023
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[Photo News] IDB chief at Naver
Naver Cloud said Tuesday that Ilan Goldfajn (right), president of the Inter-American Development Bank, visited the South Korean tech giant’s new building, Naver 1784, at their headquarters in Bundang, Gyeonggi Province, on Monday. During their visit, IDB officials were briefed on Naver’s hyperscale AI model, Hyper Clova X, and cloud computing technologies. (Naver)
Sept. 12, 2023
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Applied Materials awarded as one of top employers in Korea
Applied Materials Korea, a subsidiary of the global leader in the materials science and engineering industry, has been named one of South Korea’s Premier Employers by The Ministry of Employment and Labor. This is the third time the company has received this honor, after 2020 and 2022. The ministry made the announcement at an event held on Monday at its regional office in Seongnam, Gyeonggi Province. The Premier Employers Initiative celebrates businesses that provide top-tier job opportunit
Sept. 12, 2023
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[Photo News] Hyundai Oilbank gets fresh look in 23 years
HD Hyundai Oilbank's new design featuring its updated corporate identity is displayed at the GRC gas station in Bundang, Gyeonggi Province, Tuesday. The design, renewed for the first time in 23 years, has blue and green lines against a white background as its prominent feature, underscoring simplicity. The two lines on top converge with a gap, creating an eye-catching and yet harmonious aesthetic. The two lines are illuminated brightly on the gas station roof, enhancing visibility at night.
Sept. 12, 2023
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Hanwha to stage largest-ever int'l fireworks festival on Oct. 7
South Korean conglomerate Hanwha Group said Tuesday that it will stage its biggest event yet at the 2023 Seoul International Fireworks Festival at Hangang Park in Yeouido on Oct. 7. The annual event, organized by Hanwha Group as part of its social contribution program, typically draws an audience of one million people every year, with participation from various countries. Under the theme "Lights of Tomorrow," this year's event will feature a total of three teams from Korea, Chin
Sept. 12, 2023
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Canadian coffee brand Tim Hortons to open 1st shop in S. Korea
Tim Hortons will open its first store in South Korea this year, officials said Tuesday. On Tuesday, Canada's top coffee chain officially began preparing for the opening of its shop in the Urban Hive building in Seoul's southern Gangnam district later this year, the officials said. The exact date of the opening has yet to be determined. The 335-square-meter store will serve Tim Hortons' popular coffee and donuts, including its signature bite-sized Timbits. "We are very happy t
Sept. 12, 2023
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Hyundai E&C forays into energy brokerage market
Hyundai Engineering and Construction on Monday announced a strategic equity investment in the energy tech startup 60Hertz, marking its foray into the emerging electricity brokerage market, part of the company’s larger strategy to solidify its position in new energy initiatives. Hyundai E&C's partnership with 60Hertz aims to launch Korea's first integrated IT platform for energy trading, fostering an IT-driven ecosystem to automate transactions between electricity producers an
Sept. 11, 2023
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Kolmar Korea wins trade secret case against Intercos
Kolmar Korea announced Monday that the company has won a lawsuit against Italian cosmetics manufacturer Intercos’ local office here, which allegedly transferred trade secrets about sun care product technology. According to Kolmar Korea, the Seoul Central District Court has ruled in favor of Kolmar Korea in a civil case, in which Kolmar Korea accused Intercos Korea and its two former employees of stealing confidential technologies related to Kolmar’s sun care products. The court has o
Sept. 11, 2023