Most Popular
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Iran’s president found dead at helicopter crash site
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Actors involved in past controversies return first via streaming service originals
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Seoul rolls out W250b package in bid to lure foreign talent
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N. Korea slams US subcritical nuclear test, vows measures to bolster nuclear deterrence
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Korea's increasing US investment mutually beneficial: report
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Korean builders nervous about possible setbacks in Middle East
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[AtoZ into Korean mind] World of the in-laws, where gender stereotypes persist
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South Korea bans viral North Korea propaganda video praising Kim
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AI Seoul Summit to discuss ways to make AI equitable in Global South
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Minister warns against trusting NK stated intentions, says Moon misguided
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Samsung replaces semiconductor chief amid heightened AI race
Samsung Electronics said Tuesday it has appointed Jun Young-hyun as the new head of its semiconductor business in an apparent move to strengthen its market position amid fiercer competition in burgeoning artificial intelligence chips. Kyung Kye-hyun, who previously held the position, has been tapped to lead the company's future business planning team. The announcement comes as Samsung struggles to compete with rivals in advanced chips such as SK hynix, the market leader in producing high
May 21, 2024
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Hanwha chief calls for defense unit to spur growth overseas
Hanwha Group Chairman Kim Seung-yeon on Monday urged the group’s space business and defense arm Hanwha Aerospace to increase efforts to expand its presence in the global defense market. "We need to tirelessly work on securing future orders for Romania's K-9 project, in order to expand our share in the European market and extend our global market reach to North America," the chairman was quoted as saying during his visit to the company’s Changwon plant. It was Kim'
May 21, 2024
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Foreign holdings of top 4 Korean finance giants hit record high
Foreign holdings in South Korean banking groups' shares have surged to a record high, driven by government and corporate efforts to boost local stock values. Industry reports indicate that the average foreign ownership of shares in four major local finance groups -- KB, Shinhan, Hana and Woori -- reached 62.7 percent Friday, marking an all-time high. This figure reflects a 3.1 percent increase from the end of last year, significantly higher than the average 1 percent increase observed on Ko
May 20, 2024
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XR partnership between LG, Meta falls through
The highly-publicized partnership between LG Electronics and Meta for an extended reality device seems to have fallen through largely due to the lukewarm outlook for the XR market overall, according to industry sources on Monday. “LG and Meta may continue collaborating in other areas such as artificial intelligence and metaverse. But for an XR device, they are pushing back their plans after seeing the sluggish sales of the earlier models, especially Apple’s Vision Pro,” an indu
May 20, 2024
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Chinese e-commerce sales slow in April amid safety concerns
Chinese e-commerce platforms, including the big three -- AliExpress, Temu and Shein -- suffered a more than 40 percent fall in sales in April, possibly hit hard by consumer concerns over product safety. According to a Monday report by BC Card, the nation’s largest payment processing company, payments on Chinese e-commerce platforms dropped more than 40 percent last month compared to the previous month. The transaction volume also decreased by 38.1 percent over the same period. Payments for
May 20, 2024
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K-water CEO shares tech knowhow at UN meeting
Korea Water Resources Corp. or K-water, CEO Yun Seog-dae recently attended a UN meeting to share the state-run agency’s technological know-how to tackle the water crisis. According to the agency on Monday, Yun delivered a keynote speech at the UN’s High-level Experts and Leaders Panel on Water and Disaster (HELP) held in Bali, Indonesia, on Sunday. HELP, convened in 2007, aims to discuss ways to bolster readiness for water-related disasters. In his speech, Yun presented the agency&rs
May 20, 2024
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SK Ecoplant extends waste management service for Coupang
SK Ecoplant said Monday that it is extending its waste management service for Coupang Fulfillment Services, the logistics arm of Korean e-commerce giant Coupang. SK Ecoplant has been offering an integrated waste management service using its WAYBLE circular platform that handles the collection and transportation of waste materials. Under the new deal, the service will include connecting to final waste disposal facilities, which will allow Coupang to conduct a comprehensive analysis of its waste d
May 20, 2024
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Doosan Robotics sets up Europe headquarters in Germany
Doosan Robotics announced Monday the establishment of its European branch, Doosan Robotics Europe, in Dusseldorf, Germany, aiming to expand its sales channels and respond more effectively to local demand. Doosan Robotics Europe will collaborate with system integrators and dealers in major European markets, including Germany, the United Kingdom, the Netherlands, and Italy. This new branch will promote and sell automation solutions that are particularly sought after in Europe. These solutions incl
May 20, 2024
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CJ Logistics to build cold chain logistics center in central US
CJ Logistics, South Korea's biggest logistics company, said Sunday it will build a cold chain logistics center in the United States as part of efforts to expand its foothold in the North American market. The new center, tailored for the delivery of cold storage products and frozen goods, will be set up in New Century, Kansas, where a major railway is nearby, according to the company. The 27,034-square-meter center will start operations in the third quarter of next year and be able to delive
May 19, 2024
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Korean builders nervous about possible setbacks in Middle East
South Korean builders remain alert against geopolitical risks rising across the Middle East that could throw cold water over their expectations to take a ride on the region's construction boom. Instability in the Middle East, a key market for Korean construction companies overseas, has been sparking concerns over possible setbacks in infrastructure and maintenance projects undertaken by the builders. "Oil-exporting (Middle East) economies are heavily dependent on oil prices, which ar
May 19, 2024
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HD Hyundai chair receives honorary doctorate from HUFS
HD Hyundai Chairman Kwon Oh-gap has been bestowed an honorary doctorate in business from Hankuk University of Foreign Studies, the company said Sunday. HUFS conferred Kwon, an alumnus, for his contributions to the national economy by securing firm’s competitiveness, fulfilling social responsibilities, and fostering a culture of sharing. Joining the firm in 1978, Kwon has led the shipbuilding giant to become a technology-driven, globally competitive heavy industry leader. As the shipbuildin
May 19, 2024
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Woori, KB ink QR code payment partnership with Cambodia
Woori Bank, one of the leading South Korean lenders, has joined hands with the National Bank of Cambodia to develop a cross-border quick response code payment system, the bank announced Friday. An agreement ceremony for the partnership was held Thursday on the sidelines of the Korea-Cambodia business forum, on the occasion of a summit between President Yoon Suk Yeol and Cambodian Prime Minister Hun Manet in Seoul. Business and political figures from Korea and Cambodia, including Woori Bank CEO C
May 19, 2024
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Samsung eyes W1tr in sales of pricey capacitors for cars
Samsung-Electro Mechanics, a leading electronic parts maker affiliated with Samsung Electronics, has set a sales goal of 1 trillion won ($736 million) for its flagship Multi-Layer Ceramic Capacitor or MLCC products this year, strategically targeting the automotive sector. "Leveraging our technological prowess nurtured in the IT sector, the company aims to expand its portfolio to servers for AI services and automotive solutions, the two burgeoning markets for MLCC," Kim Wi-heon, the MLC
May 19, 2024
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
South Korea's exports of instant noodles surpassed the $100 million mark for the first time last month on the growing popularity of Korean culture and food, data showed Sunday. Exports of instant noodles, or "ramyeon" in Korean, reached $108.6 million in April, up 46.8 percent from a year earlier, growing at the fastest pace since May 2022, according to the Korea Customs Service. It marks the first time the monthly figure has exceeded $100 million, the agency said. Ramyeon exports have
May 19, 2024
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Samsung expected to introduce new Exynos processor in next Galaxy series
Samsung Electronics is expected to introduce its new flagship Exynos 2500 mobile processor made with its cutting-edge 3-nanometer process, in the upcoming Galaxy S25 smartphone lineup, according to industry sources on Friday. The envisioned chipset, which will be produced on Samsung Foundry’s second-generation 3nm process node using the advanced Gate-all-around technology, will be designed with the main focus on improving power efficiency. Samsung, the world's top memory chipmaker, ha
May 17, 2024
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Metanation, Memetoon partner up for webtoon, short-form services
Metanation and Memetoon inked a deal Tuesday for a global content market-focused partnership, which will involve projects incorporating blockchain Web3 technology across different industries such as webtoons, movies and dramas. Webtoon service Memetoon, which has an international publisher, plans a range of services involving secondary copyright, NFTs, AI, tournaments, donations, sponsorships, support, and gaming, utilizing its token and point systems. "We aim to provide a decentralized mod
May 17, 2024
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[Contribution] Can arboretums and gardens save the world? Exploring their role in biodiversity conservation
By Lee Seok-woo In recent years, the rapid decline of biodiversity worldwide due to deteriorating global environmental conditions, including climate change, has become a pressing concern. The need for urgent measures to conserve biodiversity has never been more critical. Arboretums play a crucial role in preserving plant species diversity, especially in the conservation of indigenous plant species. Additionally, the diverse forms of gardens being established in urban areas are increasingly recog
May 16, 2024
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Woori partners with India’s Tata Motors in auto finance push
Woori Financial Group on Thursday announced a new partnership with Indian auto giant Tata Motors as part of its strategy to expand its presence in the global auto finance market. Woori Financial Group Chairman Yim Jong-yong and Tata Motors Executive Director Girish Wagh held an agreement signing ceremony for business cooperation at Woori’s headquarters in Seoul on Thursday. Tata Motors is a flagship subsidiary of India's top conglomerate Tata Group, accounting for around a third of th
May 16, 2024
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Starbucks Korea to speed up hiring process
Starbucks Korea announced Thursday that the company has introduced a faster hiring process that will halve the time to recruit baristas and workers at its branches. “The existing hiring process takes around 50 days to recruit new employees, but the new hiring process will take roughly three weeks,” an official from Starbucks Korea said. According to Starbucks Korea, the new hiring process will be tested at 50 of its branches across the country. The company could extend the adoption o
May 16, 2024
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Kepco to raise electricity prices as total debt soars past W200tr
Despite self-rescue efforts, a hike in electricity prices is inevitable, the Korea Electric Power Corp. Chief Executive Officer Kim Dong-cheol said Thursday. Explaining how the company was able to reduce its snowballing debt through all-out efforts, including a massive personnel restructuring, Kim noted that Korea's electricity prices are far lower than other countries. "The cost of purchasing electricity surged from 2021, but we could not shift the burden into electricity prices, and
May 16, 2024