Most Popular
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Seoul vows action over Naver's Line, Yahoo dispute
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[KH Explains] Hyundai Motor’s plan for new landmark keeps hitting bumps
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[Grace Kao] American racism against Stray Kids
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Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
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Samsung doubles down on Vietnam
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NewJeans' members' parents complained to Hybe, email shows
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In Beijing, S. Korean top diplomat aims to jumpstart ties with China
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Controversy brews over shakeup of prosecutors amid probe of first lady
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Suspect behind murder of Korean tourist in Pattaya arrested
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Prosecutors summon pastor involved in Dior bag scandal
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Korea develops world’s 1st fiber-based white OLEDs
South Korean researchers have developed the world’s first fiber-based white organic light-emitting diodes, or WOLEDs, paving the way for more functional wearable tech, Korea Advanced Institute of Science and Technology said Wednesday. The research team came up with a single, dip-coated white emission layer suitable for a fiber structure to design the fiber-based WOLEDs. In doing so, the researchers figured out how to implement WOLEDs on a string of fiber through simulation and optimizatio
April 20, 2022
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Samsung’s M&A dealmaker joins revamped think tank
A key mergers and acquisitions dealmaker at Samsung Electronics has recently been relocated to join an in-house think tank, fueling speculation about the tech giant’s long-awaited “mega deals” in chips or other growth driver sectors. According to industry sources on Wednesday, Ahn Joong-hyun, an executive vice president at Samsung’s business support task force, was promoted to president last week to lead a future business division at Samsung Global Research. Ahn, 58,
April 20, 2022
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KT develops AI-powered tech to restore Lou Gehrig patients’ voices
KT Corp. said Wednesday it has restored the voices of patients who are losing their voices due to Lou Gehrig’s disease using its personalized text-to-speech (P-TTS) technology. Based on a small sample of a patient’s voice recordings, the technology replicates his or her vocal tone and manner of speech using artificial intelligence based on deep learning, the telecom company said. When a patient types a message on KT’s Maeum Talk app, the app reads the message in his or her v
April 20, 2022
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Authorities mull placing Upbit operator under stricter regulations, scrutiny
South Korean authorities are considering to classify Dunamu -- the operator of the nation’s largest cryptocurrency exchange Upbit -- as a “large business,” which would put the firm under further government scrutiny, sources said Wednesday. The Fair Trade Commission annually reviews businesses with a total asset over 5 trillion won ($4.03 billion) on whether they should be subject to stricter regulations. Those who are deemed as large businesses – firms with assets of mor
April 20, 2022
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Samsung Galaxy Quantum 3 to launch in April
Samsung Galaxy Quantum 3, the latest midrange 5G smartphone powered by a chipset with quantum cryptography technology, is poised to start shipping on April 26 in South Korea, domestic mobile carrier SK Telecom said Wednesday. The chipset with quantum random number generators will allow access for smartphone users to security features for digital activities via mobile apps -- ranging from mobile banking to payments, social networks and games -- as well as for external data storage. “The
April 20, 2022
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LG-Magna JV to build $100m EV parts factory for GM in Mexico
LG Magna e-Powertrain, a joint venture between LG Electronics and Magna International, will build a $100 million plant that manufactures General Motors electric vehicle components, scheduled for completion in 2023, the company announced Wednesday. The 25,000 square-meter factory will produce inverters, motors and on-board chargers to support North America-focused EV production of GM, as GM was tapped to become a foundational customer for the new facility. The plant will be located in Ramos A
April 20, 2022
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GM Korea to adjust workforce, production amid chip shortage
GM Korea Co., the South Korean unit of General Motors Co., said Wednesday it will adjust vehicle production and relocate workforce in its plants amid an extended global chip shortage. GM Korea and its union agreed to switch to a one-shift system, or regular daytime shift, from the two-shift system at the No. 1 Bupyeong plant from May 1, "to flexibly respond to market demand," the company said in a statement. The union also accepted the company's plan to relocate 1,200 workers in the No
April 20, 2022
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Non-pricing policy must for well-coordinated global climate change responses: Seoul's finance chief
South Korea's top economic policymaker has stressed the need to balance market mechanisms against non-pricing policy measures in coordinating global efforts to fight climate change, his office said Wednesday.Finance Minister Hong Nam-ki made the remarks during an online meeting of the Coalition of Finance Ministers for Climate Actions held Tuesday."The proper combination of market mechanisms, such as an emissions trading system, and non-price policy support is a must in responding to climat
April 20, 2022
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[Graphic News] Imported car sales dip 8.7% amid chip shortages
Sales of imported vehicles in South Korea fell 8.7 percent in March as chip shortages continued to affect vehicle production, an industry association said. The number of newly registered foreign vehicles fell to 24,912 units last month from 27,297 units a year ago, the Korea Automobile Importers & Distributors Association said in a statement. The three bestselling models last month were Mercedes-Benz’s E 250 sedan and E 350 4MATIC sedan and BMW’s 520 sedan, it said. &n
April 20, 2022
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Seoul stocks open lower on tech losses
South Korean stocks opened lower Wednesday, despite overnight gains on Wall Street, as large-cap tech shares lost ground on profit-taking. The benchmark Korea Composite Stock Price Index (KOSPI) lost 8.88 points, or 0.33 percent, to reach 2,710.01 in the first 15 minutes of trading. Overnight, US stocks rose ahead of the corporate earnings season. The Dow Jones Industrial Average climbed 1.45 percent and the tech-heavy Nasdaq Composite Index soared 2.15 percent. In Seoul, big-cap tech and bio sh
April 20, 2022
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Wheat import prices hit over 13-year high in March
South Korea's wheat import prices soared to an over 13-year high in March on the impact of Russia's invasion of Ukraine and a global supply chain bottleneck, data showed Wednesday, exerting upward pressure on food prices here. The country's import prices of wheat amounted to $402 per ton last month, up 8.8 percent from the previous month and the highest level since December 2008, according to the data from the Korea Customs Service and industry sources. Compared with a year earlier, the per-ton
April 20, 2022
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S. Korea ranks 2nd among OECD nations in R&D spending as portion of GDP: report
South Korea placed second in research and development (R&D) spending as a portion of its gross domestic product (GDP) among major developed countries in 2020, but its tepid growth in recent years calls for more policy support, a report said Wednesday. South Korea's R&D expenditures reached 93.1 trillion won ($75.4 billion) in 2020, accounting for 4.81 percent of GDP, according to a recent report by the Federation of Korean Industries (FKI), the country's largest business lobby. That made
April 20, 2022
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IMF slashes Korea’s growth forecast to 2.5%
SEJONG -- The International Monetary Fund on Tuesday predicted that the growth of the Korean economy would stay in the mid 2 percent range this year in the wake of the war between Ukraine and Russia, alongside the ongoing pandemic. In its latest world economic outlook report, the IMF revised down its forecast on the gross domestic product growth of Korea by 0.5 percentage point from its earlier suggestion of 3 percent to 2.5 percent. The figure is lower than the growth prediction of 2.7 percen
April 19, 2022
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LX International buys biomass power plant operator in renewable energy push
LX International Corp., the trading arm of South Korea's LX Group, said Tuesday it has bought a major stake in a local biomass power plant operator as it pushes to expand its renewable energy business. LX International will take over a 63.3 percent stake in Poseung Green Power Co., in Pyeongtaek, south of Seoul, from DL Energy Co. for 95 billion won ($76.7 million), a deal that was approved by its board earlier in the day, the company said in a release. A biomass power plant produces st
April 19, 2022
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Han Sung Motor partners CJ Logistics for Superrace Championship
Han Sung Motor, Korea‘s official Mercedes-Benz dealer, announced Tuesday that it has signed a brand partnership with CJ Logistics to support the Superrace Championship, which the logistics company hosts this weekend. The CJ Logistics Superrace Championship is the only stock car race in Asia and is the biggest motor sports event in South Korea. The two-day race kicks off this Saturday at the AMG Speedway in Yongin, Gyeonggi Province. The partnership comes in response to consumer’s
April 19, 2022
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[Photo News] Consequence of supply shortage
Units of Hyundai Motor’s compact vehicle Casper ready for shipment are sparsely parked at Gwangju Global Motors, a joint venture manufacturing plant between the carmaker and the Gwangju city government on Tuesday. Located in South Korea’s southwestern city of Gwangju, the plant is capable of manufacturing 200 vehicles a day, but suspended its operations due to a prolonged supply shortage triggered by the Shanghai lockdown.
April 19, 2022
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Video showing Ukrainian soldier "saved by" Samsung Galaxy smartphone goes viral
A video indicating that a Ukrainian soldier was saved from gun shots by a Samsung Galaxy smartphone came under the spotlight on Tuesday. Posted on social networking platform Reddit, the video shows the Ukrainian soldier reaching into his pocket to pull out what appears to be a Samsung Galaxy S21 FE or Samsung Galaxy S20. The smartphone has a bullet lodged in it, which appears to have protected the soldier from gun shots. The video didn‘t carry any text that illustrates what really happe
April 19, 2022
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Three-way race begins for SsangYong Motor acquisition
A takeover battle for SsangYong Motor, the debt-ridden carmaker owned by India’s Mahindra Group, has kicked off between three rival bidders: two medium-sized enterprises and a private equity firm. KG Group, Ssangbangwool and Pavilion PE each submitted a letter of intent to acquire SsangYong Motor to the lead manager of the deal, EY Hanyoung, industry sources said Tuesday. After South Korean electric carmaker Edison Motors’ deal to purchase SsangYong Motor went up in smoke, Seoul Ba
April 19, 2022
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[Newsmaker] Large retailers jump into e-commerce market for designer goods
Large retailers including Hanwha and Shinsegae are keen to jump into the e-commerce market for designer brands as existing online platforms are struggling to beat off a counterfeit luxury goods scandal. Online shopping malls for designer brands such as Mustit, Balaan and Trenbe have enjoyed a boom in Korea by offering convenience and prices lower than department stores or duty-free shops to the country’s growing number of luxury consumers who spent more during the pandemic. These online
April 19, 2022
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Korean Air celebrates 50 years of serving American routes
South Korea’s flag carrier Korean Air said Tuesday that it has celebrated its 50th anniversary of operating American routes, stressing its role of bridging the countries both physically and culturally. A Korean Air Boeing 707 was the first aircraft operated by a Korean airliner to fly across the Pacific on April 19, 1972. It then made stops in Tokyo and Honolulu before landing in Los Angeles, officials recalled. The airline had two destinations in the US — LA and Honolulu —
April 19, 2022