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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[KH Explains] No more 'Michael' at Kakao Games
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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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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Mirae Asset backs out of W4.1tr IFC deal
South Korea’s Mirae Asset Global Investments is pulling out of a 4.1 trillion won ($2.86 billion) deal to acquire IFC Seoul, a landmark complex in Yeouido, western Seoul, from Canada’s Brookfield Asset Management, industry sources said Monday. In May, Mirae Asset was picked as the preferred bidder to acquire the IFC Complex, which consists of three office towers, after fierce competition with a consortium led by retail giant Shinsegae Group. “Mirae Asset has filed a dispute s
Sept. 26, 2022
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[Herald Interview] Kyoto-inspired KiNoBi gin aims to elevate at-home bar experience
Pernod Ricard's Kyoto dry gin KiNoBi made its South Korean debut earlier this month, targeting a growing number of drinkers here who may drink less but are willing to spend more to elevate at-home bar experience after pandemic years. “COVID-19 has reduced opportunities for people to mingle and socialize, so people looking for a luxury experience started to choose to enjoy them at home, trying out geekier types (of premium liquor) as they have more budget while staying in. With
Sept. 26, 2022
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Startups after pandemic: Winners and losers
Over the last few years, pandemic-triggered market volatility has provided great business opportunities for South Korean startups. But in the face of a deteriorating market outlook driven by Russia's invasion of Ukraine and inflation, only a handful of startups with strong business portfolios could keep their title as “the next unicorn” with a corporate value of some $1 billion or more. RSquare, a commercial real estate platform, said its sales had surged on-year by 61 percent to 1
Sept. 26, 2022
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Korea Ginseng Corp. to aid malnourished children in Vietnam
Korea Ginseng Corp., the country’s leading ginseng manufacturer, said Monday it will work with nongovernmental relief agency World Vision to help malnourished children in Vietnam. By donating part of its revenue from sales, KGC will provide food and health supplements to malnourished children under 5 in two of Vietnam’s most impoverished districts -- Huong Hoa and Da Krong. Some 28 percent of children in these two districts were underweight while 10 percent suffered from poor growth
Sept. 26, 2022
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Seoul braces for energy crisis this winter
The South Korean government is getting the country’s 30 biggest energy consumers to join efforts to tackle the looming energy crisis this winter amid unstable global energy supply, exacerbated by the war in Ukraine and Korea’s growing trade deficit. About 55 percent of Korea’s energy consumption last year was for industrial use, over 60 percent of which was consumed by the country’s 30 largest companies. The government is set to sign a deal with those 30 companies, includ
Sept. 26, 2022
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Inflation to stay in 5-6% range for considerable period of time: BOK chief
South Korea's consumer inflation is likely to stay in the 5-6 percent range for a considerable period of time amid high energy and food prices and the local currency's sharp weakness against the US dollar, the chief of the country's central bank said Monday. Asia's fourth-largest economy is expected to see slowing growth momentum into next year due to China's slowdown and heightened external conditions, Bank of Korea Gov. Rhee Chang-yong told a parliamentary committee me
Sept. 26, 2022
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Seoul shares open sharply lower on rising recession fears
Seoul stocks opened markedly lower Monday on growing concerns about a global economic recession caused by combative monetary tightening policies in major economies. The benchmark Kopsi dropped 40.27 points, or 1.76 percent, to 2,249.73 in the first 15 minutes of trading. On Friday, US stocks ended lower, with investors fleeing for safety and cashing out of the stock market on fears that aggressive rate hikes could seriously hurt the global economy. The S&P500 fell 1.7 percent, the Dow Jones Indu
Sept. 26, 2022
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[Test Drive] Ioniq 6 could be a game changer in Hyundai’s EV portfolio
At first glance, Hyundai Motor’s second flagship electric vehicle Ioniq 6 looks more like a sports car similar to Porsche’s 911 Carrera, mainly for its coupe-like frame. But inside, the spacious interior gives the feeling of a SUV, thanks to its unique platform built on E-GMP. The carmaker's adoption of EV-only seat material that is 30 percent thinner than ordinary seat fabric was a good choice. This unlikely combination of exterior and interior clearly shows where Hyundai Mot
Sept. 25, 2022
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Kumho Resort says its luxury camping a hit
A new nature-friendly camping site run by Kumho Resort, a leisure unit of Kumho Petrochemical, has made a successful debut in July, the company said Sunday, adding that the company would invest more to expand the business. "We will continue our investments in Asan Spafore so that the camping site can become a leading glamping site," said Kumho Resort CEO Kim Sung-il. "We will listen carefully to customers to provide a high-quality camping experience suitable for our premium facili
Sept. 25, 2022
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Citibank Korea launches 'e-Commerce Industry Seminar' for corporate clients
Citigroup’s Korean unit Citibank Korea explained the bank's foreign exchange solutions and its outlook on the e-commerce market during an e-commerce industry seminar Thursday. During the seminar, model cases of FX solutions and digital payments that used Citibank's global network, were introduced. Aman Singh Chadha, the bank's regional head of e-Commerce financial products and head of eFX Solutions for the APAC region, further illustrated the trends of the e-commerce market during the semi
Sept. 25, 2022
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Decoding Lee Jae-yong's fandom
Taking selfies with rank-and-file employees and lining up for a lunch queue for a simple meal instead of a juicy steak is something that many didn't expect to see from Samsung Electronics Vice Chairman Lee Jae-yong, the most powerful business tycoon in South Korea. The 54-year-old third-generation chaebol scion has long lived a life away from the public eye, except in the past five years, when he made frequent headlines over his involvement in a high-profile bribery scandal. But as he gets close
Sept. 25, 2022
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Car defect cases double in three years
Cases of reported car defects have more than doubled in three years, a lawmaker said Sunday. A total of 18,452 car defect reports had been filed to the Transport Ministry’s vehicle recall center from 2019 to 2021, according to Korea Transportation Safety Authority data that Democratic Party lawmaker Min Hong-chul had obtained. By year, 3,750 car defect cases were filed in 2019, 6,917 cases in 2020, and 7,785 cases in 2021, an increase by 2.1 times during the past three years. Defects repor
Sept. 25, 2022
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KT teams up with Canada’s Vector Institute in AI push
KT is looking to improve its artificial intelligence competitiveness through a partnership with Canada's Vector Institute, a nonprofit firm dedicated to AI research. According to KT, the two sides signed an agreement on research, development and business cooperation at the Vector Institute in Toronto on Thursday. The signing marked the first partnership between a South Korean company and the Vector Institute. KT said the partnership will focus on three main areas in the field of AI: joint R&
Sept. 25, 2022
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SK to build AI computing infrastructure with University of Toronto
South Korean mobile telecom carrier SK Telecom announced Sunday that the company, its artificial intelligence chip developer arm Sapeon and the University of Toronto came together on Thursday to build an AI chip-mounted computing infrastructure at the Canadian university’s campus in Toronto. Sapeon will provide its low-power neural processors, the X220 and X330, free of charge to run its neural processing unit, or NPU, Farm infrastructure, which is capable of delivering up to 32,000 trilli
Sept. 25, 2022
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Posco International to triple natural gas production in Australia
Posco International, a trading firm under Posco Group, said Sunday that it was investing around 140 billion won ($98.38 million) to triple the natural gas production of its subsidiary Senex Energy Limited in Australia by 2025. According to the company, the investment is aimed at contributing to stabilizing energy costs in South Korea. The price of natural gas is expected to remain high for a while from the impact of the global natural gas shortage due to Russia switching off its gas pipelines fl
Sept. 25, 2022
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SKT launches country’s 1st AI diagnosis for dogs
SK Telecom on Sunday unveiled the country’s first commercialized veterinary image diagnostic service based on artificial intelligence technology. Named “X Caliber,” the AI solution provides medical reports when a veterinarian uploads X-ray pictures of the dog’s chest or musculoskeletal system to the service’s website. The autonomous diagnosis takes about 30 seconds, according to SK Telecom. The company highlighted the importance of quick diagnosis, saying it would u
Sept. 25, 2022
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LG CNS becomes first S. Korean DX partner for Google Cloud
Information technology service provider LG CNS said Sunday it has become the first South Korean company to sign a digital transformation (DX) partnership with Google’s cloud service, Google Cloud. Through the strategic partnership, LG CNS said it hopes to acquire a competitive edge in the domestic artificial intelligence market catered toward corporate use, and to carry out cloud application modernization (AM) and total experience (TX) innovation projects. To increase market presence, the
Sept. 25, 2022
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Collaboration with fashion designers growing trend in manufacturing
Product collaborations with fashion brands continue to be popular in the local manufacturing industry, with a growing number of consumers looking to own unique items. Samsung Electronics, the country’s tech giant, said Friday it has launched a limited edition of Galaxy Z Flip 4, Galaxy Watch 5 series and Buds 2 designed by a local fashion brand Juun.J. The Juun.J edition Galaxy Z Flip 4 comes in two colors – graphite and phantom black -- with an all-black leather case, a shoulder
Sept. 23, 2022
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US, Canada firms vow to invest W1.6tr in Korea during Yoon's trip
SEJONG -- North America-based businesses have proposed to invest $1.15 billion (1.62 trillion won) in South Korea's manufacturing sector during President Yoon Suk-yeol’s visit to the US, the Industry Ministry said Friday. Investment proposals were made at an investors' roundtable held in Manhattan on Thursday, local time, attended by President Yoon and Industry Minister Lee Chang-yang, officials said. Most of the investors were from the fields of semiconductors, electric vehicles, seconda
Sept. 23, 2022
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Fandom power might change blockchain ecosystem, experts say
BUSAN -- Blockchain industry leaders seeking to merge entertainment with technology are looking closely to the power of fandoms, believing that it could reshape the ecosystem, according to speakers at the 2022 Upbit Developer Conference on Friday. “Hybe's business model is based on fans promoting artists,” Hybe America President Jason Jaesang Lee said during the second day of this year’s conference held in Busan. “Fans becoming promoters for our artists is a powerful g
Sept. 23, 2022