Most Popular
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No plan to let doctors with foreign licenses practice here anytime soon: PM
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Science Ministry expresses regret over Japan’s pressure on Naver
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Hostilities get out of hand as YouTuber murders another outside courthouse
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Yoon interacts with public for 1st time since election defeat
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[Weekender] Pet food makers bet big on ‘recession-free’ pet food market
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N. Korea says to deploy new multiple rocket launcher starting this year
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Lee Sun-kyun's posthumuous film to hit theaters in August
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State-led adoption system to be established to ensure adoptees' well-being, minimize overseas adoption
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Seoul transit pass for travelers to be available starting July
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Bithumb to pay W40b taxes for crypto airdrop winners
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Korea to greenlight self-service hydrogen charging stations, replace coal with ammonia
South Korea on Friday unveiled a pangovernmental hydrogen blueprint that laid out detailed plans to realize the nation’s hydrogen economy, from authorizing self-service hydrogen fueling stations to replacing coal with ammonia at power plants. The blueprint aims to address the key weaknesses of Korea’s hydrogen ambition -- heavy reliance on foreign-made hydrogen, concerns over safety, lack of demand and price competitiveness in the hydrogen mobility sector and infrastructure, the g
Nov. 26, 2021
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Coupang holds special online event for Black Friday
South Korean e-commerce company Coupang said Friday that it will hold a special event to celebrate the Black Friday shopping extravaganza. This year’s event, which continues through Sunday, includes offering global products at a discount for those using its “Rocket Jikgu” overseas delivery service and the Rocket Delivery category that includes directly imported goods. A limited-time sale will also take place daily. Brands that are participating includes consumer electr
Nov. 26, 2021
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Burger King apologizes for plastic wrapper in burger
Burger King issued an apology Friday, after a plastic wrapper was found inside a burger sold at one of its stores in Sejong. “Burger King would like to sincerely apologize to the customer for the inconvenience,“ the US burger chain said in a statement. ”We are currenly investigating how the substance got into the food. Burger King will increase efforts to improve the quality of our products and services.“ On Thursday, a male customer told local media he found a she
Nov. 26, 2021
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S. Korea launches 'early warning system' on supply chains of 4,000 key industry items
South Korea on Friday launched an early warning system to monitor some 4,000 key industry materials and items to prevent the recurrence of a crisis similar to the ongoing supply crunch of urea solution used to reduce emissions in diesel vehicles. The shortage of urea solution has exposed vulnerabilities in the country's supply chain and prompted the government to set up a task force on economic security meant to ensure stable supply chains. Items listed on the early warning system include magn
Nov. 26, 2021
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Hyundai Construction Equipment bags big orders from Russia this month
Construction machinery maker Hyundai Construction Equipment said Friday it has obtained orders for 534 units of construction equipment from Russia this month. The deals with unidentified Russian miners and builders include orders for 510 excavators, 15 wheel loaders and nine skid-steer loaders, Hyundai Construction Equipment said in an emailed statement. The construction equipment will be delivered by the first quarter of next year and used at the construction sites and coal mines in Russia, t
Nov. 26, 2021
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Hyundai Motor's Ioniq 5 is German Car of the Year
Hyundai Motor Group said Friday that its fully electric model Ioniq 5 has been picked as the German car of the year. The judges, comprised of 20 automotive journalists working in Germany, evaluated the vehicle based on categories including practicality, driving performance, innovation, market fit as well as a separate riding test. A total of 45 newly released cars competed for this year’s award. Except Ioniq 5, Peugeot 308, Kia EV6, Audi E-Tron GT and Porsche 911 GT3 made i
Nov. 26, 2021
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Seoul stocks open lower amid renewed virus concerns
South Korean stocks opened lower Friday, largely as investors worry over the escalating coronavirus situation. The benchmark Korea Composite Stock Price Index (Kospi) fell 3.02 points, or 0.1 percent, to 2,977.25 points in the first 15 minutes of trading. The Kospi started off weak amid losses on the chemical and tech heavyweights. Market bellwether Samsung Electronics edged down 0.14 percent, No. 2 chipmaker SK hynix traded flat, and internet portal operator Naver lost 1.13 percent. Pharmac
Nov. 26, 2021
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Foreign ownership of S. Korean land rises 1.3% in H1
Foreign ownership of South Korean land expanded 1.3 percent in the first half of the year from six months earlier, the land ministry said Friday. Foreigners owned 256.7 square kilometers of land here as of end-June, up 3.39 million square meters from the end of December last year, according to the Ministry of Land, Infrastructure and Transport. The amount accounts for 0.26 percent of South Korea's total land area and is slightly more than four times the size of Manhattan in New York. The valu
Nov. 26, 2021
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Lotte Group hires outsiders to lead key businesses
Lotte Group has hired Kim Sang-hyun, former vice president of market rival Homeplus, to lead Lotte Shopping, which controls all the group’s retail business, officials said Thursday. The group’s hotel department will be led by Ahn Se-jin, former CEO of the Korean restaurant chain Nolboo. Kim Gyo-hyun, former head of Lotte Chemical, was promoted to vice president in recognition of his achievements in restoring the fortunes of the group’s chemical business to pre-pandemic
Nov. 25, 2021
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LG Group reshuffles top brass, promotes LG Electronics CEO
LG Electronics CEO Kwon Bong-seok has been named the chief operating officer of LG Corp., LG Group’s holding company, becoming the No. 2 man at the nation’s fourth-largest conglomerate, in a major executive reshuffle announced on Thursday. The 58-year-old was awarded with vice chairman title, joining the top brass assisting Chairman Koo Kwang-mo. The group currently has three vice chairmen: LG Energy Solution CEO Kwon Young-soo, LG Household & Health Care CEO Cha Suk-yong and LG
Nov. 25, 2021
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Dunamu completes first NFT sales
Dunamu, the operator of cryptocurrency exchange Upbit, said Wednesday that it sold its first NFT art: two paintings by the famous Korean pop artist Jang Koal. The first art piece, “Mirage Cat 3,” started its bidding price from 0.0416 bitcoins, worth 2.8 million won ($2,350), and was sold on Wednesday on the Upbit NFT Beta platform to a bidder who had offered 3.5098 bitcoins, or about 240 million won, the company said. The nonfungible token, digital counterparts of real-world asse
Nov. 25, 2021
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JB Financial opens integrated big data platform
JB Financial Group said on Thursday it has established an integrated big data platform which brings together the data of all of its affiliates and uses artificial intelligence technology to offer customized service. The “data hub” converges the financial data of affiliates and public data, and applies the group’s internal cloud technology to allow data analysis from an integrated perspective, JB Financial said. Using the data hub, affiliates of JB Financial can analyze custom
Nov. 25, 2021
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KFCC holds webinar with Thai counterpart
The Korean Federation of Community Credit Cooperatives will hold a joint webinar with its counterpart in Thailand on Friday under the theme “The Role of Financial Cooperatives and Future Directions.” The webinar is designed to discover the value of financial cooperatives in the two countries and seek ways to cooperate, the KFCC said. Students and officials at cooperatives as well as participants from Myanmar, Laos, Fiji and Uganda will take part in the three-hour webinar. The semin
Nov. 25, 2021
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Jobs for 30-somethings cut for 7 consecutive quarter
SEJONG -- The number of paid jobs for South Koreans in their 30s has declined for a seventh consecutive quarter. This could indicate a lack of job security for the core working age bracket, despite recent improvement in hiring indexes for other age groups. Statistics Korea said Thursday that the tally for salaried jobs increased by 681,000 on-year for all age groups in the second quarter. By age, the figure decreased only among those aged between 30-39. Those in their 60s and older topped the
Nov. 25, 2021
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Samsung Biologics, GreenLight to produce COVID vaccine for Africa
Samsung Biologics and Boston-based biotech firm GreenLight Biosciences have teamed up to help make COVID-19 vaccines more accessible to people in poor countries, especially in Africa, the Korean pharmaceutical company said Thursday. Under a contract manufacturing deal signed earlier in the day, Samsung Biologics will produce drug substances for GreenLight’s messenger RNA COVID-19 vaccine candidate. The drugmaking unit of Samsung Group said it is adding new production facilit
Nov. 25, 2021
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Hyundai to test Level 4 self-driving system next year
Hyundai Motor Group said Thursday it would test its Level 4 autonomous driving system in downtown Seoul under its new mobility service “RoboRide,” using its fully electric compact Ioniq 5 as early as next year. The Korean auto giant said running RoboRide will be set the grounds for the company’s advancement of self-driving tech, in a step toward the commercialization of uncrewed mobility services. “We’ve been developing autonomous driving technology for all to mov
Nov. 25, 2021
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Seoul motor show presents future of sustainable mobility
South Korea’s biannual auto show kicked off Thursday with global carmakers showcasing sustainable, smart and sophisticated mobility to lure local drivers with future technologies designed to revitalize the pandemic-hit automotive industry. The Seoul Mobility Show offers its stage for one world premiere, five Asia premieres and 14 Korea premiers of six different local and foreign brands. About 100 car manufacturers and mobility companies from six different countries joined the show simulta
Nov. 25, 2021
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Seoul stocks down for 3rd day on hawkish Fed, BOK's rate hike
South Korean stocks closed lower to extend their losing streak to a third day Thursday as the country's central bank raised its key policy rate to fight inflation and household debt. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 14.02 points, or 0.47 percent, to close at 2,980.27 points. Trading volume was moderate at about 587 million shares worth some 9.3 trillion won ($7.8 billion), with losers outnumbering gainers 642 to 228. Foreigners and institutions offloaded a ne
Nov. 25, 2021
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Kakao Brain to give Korean-language AI an upgrade
Kakao Brain, an AI technology research and development subsidiary of Kakao, said Thursday it will upgrade its Korean-language AI model to go full swing in promoting the development of local AI industry. According to the AI company, it plans to enhance the deep learning process of KoGPT, Kako Brain’s Korean- language AI model, and make it 100 times more efficient by using Google Cloud’s supercomputer, Google Tensor Processing Unit. Google TPU is a large-scale computing system that
Nov. 25, 2021
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NongHyup says virtual human ‘hired’ for digitalization
NongHyup Financial Group said Thursday that it has “hired” an artificial intelligence-powered member of staff to work along with the lender’s human staff, as part of its effort to digitize its operations and enhance the customer experience. A virtual human figure powered by artificial intelligence will assist staff at its key subsidiary NongHyup Bank from January, officials said. This is the first time a bank has officially recognized an AI machine as a member of staff, give
Nov. 25, 2021