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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[Weekender] How DDP emerged as an icon of Seoul
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Tensions heighten ahead of first president-opposition chief meeting
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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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Seoul to provide housing subsidy to married couples with newborns
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Rapper jailed after public street fight with another rapper
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[Music in drama] An ode to childhood trauma
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'The Roundup: Punishment' becomes fastest 2024 film to top 2 mln admissions
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New head of doctors' association vows war in case of disadvantage to medical professors
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2022 fiscal deficit likely to surpass W70tr
SEJONG -- The nation is projected to see the fiscal deficit sharply increase this year in the wake of allocation of the supplementary budget worth 16.9 trillion won ($14 billion), state data showed Monday. In addition, there is a possibility that the fiscal deficit will further increase, as two major presidential candidates have pledged to draw up new supplementary budgets amid growing uncertainty over the economy due to external factors as well as the ongoing pandemic. According to the Minist
Feb. 28, 2022
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Seoul stocks advance on hopes for Ukraine-Russia talks
South Korean stocks closed higher Monday after choppy trading, backed by reports that Ukraine and Russia have agreed to talks. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 22.42 points, or 0.84 percent, to close at 2,699.18 points. Trading volume was moderate at about 604 million shares worth some 12.7 trillion won ($10.5 billion), with gainers outnumbering losers 631 to 240. Foreigners bought a net 89 billion won and retail investors p
Feb. 28, 2022
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[MWC 2022] KT debuts AI coaching app for K-pop dance
KT Corp. said Monday it has debuted a new artificial intelligence-based coaching app for K-pop dance, called KT Real Dance, at the Mobile World Congress in Barcelona that kicked off Monday. When users dance in front of a smartphone camera along with a virtual instructor, the app records a synchronized video, analyzes dance moves, and offers tips on how to improve one‘s dancing skills. The app also counts calories burned during the dance classes as well. At its MWC exhibition booth, K
Feb. 28, 2022
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Next-gen genome writing picked as future biotech
The technology of next-generation genome writing in the field of platform bio will be essential to leading the future in the competitive era of technology hegemony, the Korea Research Institute of Bioscience and Biotechnology said Monday, as it announced 10 promising future biotechnologies for this year. The state-run institute said the technology of next-generation genome writing, which allows designing DNA and quickly combining it at a mass scale, will help mankind overcome technical limitat
Feb. 28, 2022
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S. Korea remains 5th in global car production: KAMA
South Korea was the fifth-largest country in the world in terms of auto production last year, keeping its rank for the second consecutive year despite the chip shortage-triggered decrease in car manufacturing, data showed Monday. According to the Korea Automobile Manufacturers Association, the country produced some 3.46 million cars, a 1.3 percent decrease from the year before. KAMA explained that despite a global shortage of semiconductors, South Korea was able to minimize the decrease in out
Feb. 28, 2022
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Number of safety accidents deaths down after new industrial law
The number of deaths at workplaces due to safety accidents has fallen compared to a year ago after the country enforced a strengthened industrial safety act, according to government data. The Labor Ministry data showed that from Jan. 27 to Feb. 26, a total of 42 people died from 35 fatal industrial safety accidents, compared to 52 deaths from 52 accidents that occurred over the same period last year. In a one month period, 18 workers in the manufacturing industry lost their lives,
Feb. 28, 2022
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S. Korea to seek exemption for local firms from US tech sanctions against Russia
South Korea will seek close consultations with the United States to receive an exemption from Washington's recently expanded sanctions against Russia to minimize the impact of the restrictions on local firms and the economy, the country's top trade official said Monday. Last week, the US government announced the Foreign Direct Product Rule (FDPR) for "all of Russia" as part of sweeping export controls over its recent invasion of Ukraine, which requires companies to receive a license f
Feb. 28, 2022
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Korea Investment & Securities to back PAI Partners in acquiring Tropicana
The securities company Korea Investment and Securities said Monday it will participate as a joint lead arranger to back PAI Partners’ acquisition of the orange juice brand Tropicana. The Paris-based private-equity firm PAI Partners agreed to buy a majority interest in a portfolio of juice brands, including Tropicana, from PepsiCo last August. Investment banks like Credit Suisse and Bank of America are involved in helping PAI Partners obtain $4.4 billion (5.27 trillion won) in loans neede
Feb. 28, 2022
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[MWC 2022] MWC back in full swing to offer new connected experience
BARCELONA/SEOUL -- Mobile World Congress, the world’s largest mobile tech show, kicked off its four-day run in Barcelona on Monday, with big name exhibitors, including Samsung Electronics and Google, returning to flaunt their latest technologies and products. The annual convention was canceled in 2020 due to the coronavirus pandemic, and in 2021, it was a hybrid event, with most of the product launches held online. This year’s MWC, themed “Connectivity Unleashed,” is ba
Feb. 28, 2022
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Big data firm DataStreams starts online academy
Big data platform company DataStreams Corp. said Monday it launched an online academy and appointed instructors last week to deliver the firm’s big data and data governance knowledge to its staff, partners, students and the public. DS Academy will offer 57 lectures in nine courses on products, consulting, big data infrastructure, data integration using the company’s data fabric solution TeraONE, big data governance, big data fabric and artificial intelligence big data analysis, amon
Feb. 28, 2022
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KB draws W543b commitment to finance wind turbine project in Jeju
South Korea’s KB Kookmin Bank said Monday it has snapped up a combined 543 billion won ($450 million) commitment to a private fund to finance a 100-megawatt wind turbine project on the southern resort island of Jeju. The private fund, which marks the largest here in terms of those tied to renewable energy, will target 18 offshore wind turbines on Jeju Island, generating a combined 100 megawatts. The value of the total project amounts to 630.3 billion won and the construction of the offsho
Feb. 28, 2022
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Samsung Bioepis secures 10 biosimilars in 10 yrs
Samsung Bioepis Co. said Monday that it has secured a total of 10 biosimilar products, including five that are globally available, as the South Korean biopharmaceutical company celebrates its 10th year anniversary. Founded in 2012, Samsung Bioepis has won global approval for a total of six biosimilars -- Infliximab, Etanercept, Adalimumab, Trastuzumab, Bevacizumab and Ranibizumab. Samsung Bioepis is a joint venture between Biogen and Samsung Biologics Co., one of the world's major contract drug
Feb. 28, 2022
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[MWC 2022] Samsung Electronics unveils Galaxy Book2, virus-proof laptop with stronger Wi-Fi
Samsung Electronics Monday released Galaxy Book2 Business, a laptop mounted with Microsoft and Intel’s anti-virus programs and advanced 6E Wi-Fi, targeting remote workers who remain vulnerable to cybersecurity threats and slow internet connections. During the annual Mobile World Congress held in Barcelona, Spain, the South Korean tech giant announced the release of Galaxy Book2 Business installed with layers of protection from Intel and Microsoft. The laptop, which only weighs 1.51 kil
Feb. 28, 2022
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Hana Bank to sponsor Korean athletes at 2022 Winter Paralympics
Hana Bank said Monday it will sponsor the Korea Paralympic Committee to support the South Korean delegation to the upcoming 2022 Beijing Winter Paralympics. The delegation consists of 32 athletes competing in six sports. The bank‘s partnership with the committee dates back to 2018, when Hana Bank first started sponsoring the Pyeongchang Winter Olympics and Paralympics. Hana remains the only banking group backing the Korea Paralympic Committee. This recent commitment aligns with the g
Feb. 28, 2022
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Overseas card spending jumps 18.6% in 2021 on strong won
South Koreans' overseas card spending swelled nearly 19 percent in 2021 amid a strong local currency against the US dollar, central bank data showed Monday. The amount of money spent overseas by South Koreans with cards, including credit and debit cards, came to $12.23 billion last year, up 18.6 percent from a year earlier, according to the data by the Bank of Korea (BOK). The 2021 tally represents a sharp turnaround from a 46.1 percent on-year tumble recorded a year earlier. Last year's surge w
Feb. 28, 2022
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PLANA shares vision for advanced air mobility with hybrid electric aircraft model
PLANA, a South Korean startup developing vertical take-off and landing aircraft powered by hybrid e-powertrain, shared its vision for advanced air mobility, or AAM, with its unique model at the 2022 Drone Show Korea that ended Saturday. Plana CEO Braden J. Kim, who studied aerospace engineering and holds a doctorate in mechanical engineering, founded the company in July last year. He most recently worked at Hyundai Motor Group’s urban aircraft mobility development team. In h
Feb. 28, 2022
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S. Korea's dependency on Japan materials, parts hits fresh low in 2021
South Korea's dependency on Japanese materials and parts fell to an all-time low last year following Tokyo's control of exports of key products bound for Seoul, the industry ministry said Monday. Imports of Japanese materials, parts and equipment came to $39.5 billion in 2021, accounting for 15.9 percent of South Korea's overall purchase of those goods, according to the data from the industry and trade ministry. The figure was down 1.3 percentage points from the previous year and the lowest sinc
Feb. 28, 2022
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S. Korea retains 5th place in global vehicle output: report
South Korea ranked fifth in terms of the global vehicle production last year, retaining the spot for the second consecutive year, amid efforts to minimize the fallout from the pandemic-caused global chip shortages, a report showed Monday. The combined vehicle output by South Korean carmakers, including Hyundai Motor Co. and Kia Corp., reached 3.46 million units as of end-2021, down 1.3 percent from the previous year, according to the report by the Korea Automobile Manufacturers Association (KAMA
Feb. 28, 2022
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Seoul stocks open lower amid Ukraine uncertainties
South Korean stocks opened lower Monday, as investors remained cautious amid the Ukraine tensions. The benchmark Korea Composite Stock Price Index (Kospi) retreated 9.61 points, or 0.36 percent, to 2,667.15 points in the first 15 minutes of trading. Stocks dropped as investors digest a new set of sanctions by the United States and Western nations on Russia over the Kremlin's attack on Ukraine. Most stocks retreated in Seoul, led by foreign and institutional sell-offs. Market bellwether Samsung E
Feb. 28, 2022
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Home transactions dip 54% in Jan. on lending curbs
Home transactions in South Korea tumbled more than 50 percent in January amid tough lending curbs and rising interest rates, government data showed Monday. The number of homes changing hands nationwide stood at 41,709 units last month, down 54 percent from a year earlier, according to the data from the Ministry of Land, Infrastructure and Transport. Compared with the previous month, the January tally was down 22.4 percent. The number of home transactions in the greater Seoul area, which includes
Feb. 28, 2022