Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Posco probes links between typhoon, fires at Pohang plant
Multiple fires were reported at Posco’s steel plant in southeastern city of Pohang, Gyeongsang Province, Tuesday morning, but the company said the picture showing dark smoke surrounding its facilities that went viral online was not due to fire but the release of byproduct gas at the plant caused by a power outage. The outage was due to Typhoon Hinnamnor that was passing by the peninsula earlier in the morning, Posco official said, adding that the company is investigating if the typhoon h
Sept. 6, 2022
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Tmax Group to launch tool that builds app without writing code
South Korean enterprise software developer Tmax Group on Tuesday unveiled plans to launch a tool through which enterprise clients can build business apps tailored to their own needs without writing code. SuperApp Studio, an app-building tool that Tmax believes can become a Korean equivalent to Microsoft's Power App or Amazon's HoneyCode, will be designed to allow people without knowledge of programming languages to skirt technology barriers in the app development process without hiring
Sept. 6, 2022
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Audi Korea launches brand’s first all-electric compact SUVs
Audi Korea officially launched its first all-electric compact sport utility vehicles, the Audi Q4 e-tron and the Audi Q4 Sportback e-tron, in South Korea on Tuesday. “The Q4 e-tron will redefine the boundaries between car segments and act as a gateway into e-mobility. With these models, we have strengthened our EV lineup enough to satisfy the needs of Korean customers,” said Lim Hyun-ki, the executive director of Audi Korea, at the launching ceremony. The Audi Q4 e-tron is the first
Sept. 6, 2022
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Kakao's taxi algorithm does not favor own cabs: experts
A committee of experts said Tuesday that the algorithm of Kakao Mobility’s taxi-hailing application -- Kakao T -- does not favor its affiliated cabs known as Kakao T Blue in the process of matching passengers with taxi drivers. The experts’ analysis came amid the Fair Trade Commission’s ongoing case against Kakao Mobility over allegations that the ride-calling app operator intentionally assigned passengers to its affiliated cabs first. Denying the allegations, the company dis
Sept. 6, 2022
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Korean Air opens new flight route from Incheon to Budapest
South Korea’s flag carrier Korean Air said Tuesday it will open a new international flight route from Incheon to Budapest, Hungary, starting Oct. 3. According to the airliner, flights will depart from Incheon every Monday at 11:25 a.m., and arrive at its destination at 5:05 p.m. local time. Return flights will take off from Budapest at 7:15 p.m. every Tuesday, landing in Korea the next day, 50 minutes past noon. However, the flight schedules will be pushed back by approximately 20 minutes
Sept. 6, 2022
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S. Korea, Netherlands discuss semiconductors, nuclear energy cooperation
South Korea's Deputy Trade Minister Jeong Dae-jin on Tuesday asked for the Netherlands' active investment in his country in semiconductors and other major sectors, stressing Seoul's push to ease regulations and expand incentives, the trade ministry said. Jeong made the request during a meeting with the Dutch ambassador to South Korea, Joanne Doornewaard, in Seoul, as the two sides discussed ways on boosting cooperation in chips, nuclear power generation, hydrogen and other promisi
Sept. 6, 2022
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Samsung Heavy wins W1.16t LNG ship order in Bermuda, Africa
Samsung Heavy Industries Co., the world's third-biggest shipbuilder by order backlog, said Tuesday it has received a 1.16 trillion-won ($850 million) liquefied natural gas (LNG) ship order in Bermuda and Africa. Samsung Heavy obtained four LNG ship orders, two from a shipper in Bermuda and two from an Africa-based shipper, and plans to gradually deliver them by September 2025, the company said in a statement. Bermuda is a self-governing British overseas territory in the western North Atlant
Sept. 6, 2022
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Choo says economy still solid despite won’s slide
Increasing volatility prompted by changes in the global economy is gripping South Korea’s financial markets, but the economic fundamentals remain strong, Finance Minister Choo Kyung-ho said Monday morning at a meeting of the nation’s economic chiefs. “The won is weakening, but economic indicators like the credit default swap premium are solid,” Choo said, referring to derivative contracts meant to protect investors from a Korean default. The premium on the country's five
Sept. 5, 2022
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Super typhoon’s approach puts Korean businesses on high alert
Tensions grew sharply among retail, transport and manufacturing sectors on Monday on fears of the possible disruptions that Typhoon Hinnamnor could cause to their businesses, which are already suffering from a weak local currency and persistent economic uncertainty. The country’s three major mobile carriers -- SK Telecom, KT and LG Uplus -- set up emergency centers to monitor hurricane damage and tackle possible power outrage problems. The three companies mobilized emergency power gener
Sept. 5, 2022
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Seoul stocks down for 3rd day amid recession woes; Korean won at over 13-year low
Seoul stocks ended lower for a third consecutive session Monday on concerns over the Fed's aggressive rate hikes and a global economic recession. The Korean won tumbled to an over 13-year low against the US dollar. After choppy trading, the Korea Composite Stock Price Index (KOSPI) fell 0.24 percent, or 5.73 points, to 2,403.68. Trading volume was moderate at 346.4 million shares worth 6.13 trillion won ($4.5 billion), with decliners outpacing gainers 606 to 252. The KOSPI opened higher on
Sept. 5, 2022
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Hyundai Motor chief returns from US trip over US EV tax credit
Hyundai Motor Group Executive Chair Chung Euisun returned from a two week US trip where he sought for measures to deal with the latest US tax credit bill that has scrapped subsidies for foreign-made electric vehicles. But market insiders say there isn't room for businesses to resolve the issue and it is a matter that depends heavily on the government’s strategic approach. According to industry experts quoted in local media on Monday, Chung visited New York, Los Angeles, Boston and G
Sept. 5, 2022
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[From the Scene] Growing crops under solar panels: Korea tests agrivoltaic farm
HAMYANG, South Gyeongsang Province – A week before Chuseok, the sounds of a combine harvester's revving engine echoed in Gi-dong village of Hamyang, some 240 kilometers southeast of Seoul. The sound is not an unfamiliar one at any farm during harvest season around the country, but the scene was different as the machine cut and threshed grains underneath solar panels. Sleek, rectangular panels are placed on poles five meters above the ground at an agrivoltaic demostration complex in the vil
Sept. 5, 2022
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Korea to have more EV charging, self-driving robots at parks
SEJONG -- More and more gas stations are expected to operate charging ports for electric vehicles under state measures to promote supply of eco-friendly vehicles by easing regulations. In addition, businesses will be allowed to operate autonomous mobile robots at parks, while the current rules restrict the range of serving robots to indoor restaurants, government officials said Monday. A task force on deregulations, led by the Ministry of Economy and Finance, unveiled the second phase of dereg
Sept. 5, 2022
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Kakao launches Tapas Entertainment to boost US market expansion
Kakao Entertainment -- a content subsidiary of South Korean IT giant Kakao -- has launched Tapas Entertainment to accelerate the expansion of its content businesses in North America, the company said Monday. Tapas Entertainment was established after a merger between Tapas Media, the first webtoon platform in North America, and Radish Media, a leading US web novel company, was completed on Aug. 5, according to Kakao Entertainment. Kakao Entertainment acquired the two companies in May last year
Sept. 5, 2022
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4 of 5 chip experts say Korea faces 'worst crisis' in decade
South Korea's chip manufacturing industry is facing the worst crisis in a decade, a survey that polled semiconductor experts showed Monday. Twenty-four out of the 30 chip experts surveyed by lobby group Korea Chamber of Commerce and Industry responded that Korea is either facing the threat as grave as, or graver than, Chinese chipmakers' foray into memory chip business in 2016 or the trade war between the United States and China in 2019. Of the respondents, 13 said Korea's situati
Sept. 5, 2022
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[Photo News] Chuseok money
Batches of 50,000 won bills are transported from the Bank of Korea on Monday ahead of the Chuseok holiday that kicks off on Friday.
Sept. 5, 2022
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Samsung vows to take energy efficiency to next level at IFA 2022
Samsung Electronics on Monday pledged to take energy efficiency of its consumer electronics goods to the next level, supported by a combination of technologies from artificial intelligence to connected homes, during Europe's biggest tech show IFA 2022 that wraps up Tuesday. The cutting-edge technologies will allow Samsung to sell the most energy efficient refrigerators and washers among all products sold in Europe, the company claimed, using estimates from Samsung's own test results.
Sept. 5, 2022
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Hyundai Mobis to promote EV module in US auto show
Hyundai Mobis Co., South Korea's leading auto parts maker, said Monday it will promote its high-end auto parts at a US auto show this month to strengthen its presence in the world's most important automobile market. Hyundai Mobis aims to explore new opportunities to sell its electric complete chassis platform module (eCCPM) for EVs and other high-end auto components to local carmakers at the North American International Auto Show, the company said in a statement. It will also focus on
Sept. 5, 2022
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S. Korea-bound corn shipment departs from war-torn Ukraine
POSCO International Corp., a South Korean commodities trader, said Monday its shipment of Ukrainian corn departed from a port in the war-torn country and will arrive home later this month. A vessel carrying 61,000 tons of corn left Pivdennyi Port in Ukraine on Aug. 16 and is on its way via a sea route to reach Incheon, 27 kilometers west of Seoul, around late September, the trading arm of POSCO Holdings Co. said in a release. "All of the corn will be used for feed, which will help stabilize
Sept. 5, 2022
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SK teams up with Malaysian firm for cooperation in hydrogen, renewables
South Korean energy-to-telecom conglomerate SK Group said Monday it is partnering with a Malaysian clean energy company to explore collaboration in hydrogen, renewable energy and green mobility, as part of efforts to bolster its green energy transition. Its three affiliates -- SK Materials Inc., SK Ecoplant Co. and SK Signet Inc. -- recently signed a memorandum of understanding with Gentari Sdn. Bhd., a subsidiary of Malaysia's state-run oil company Petroliam Nasional Berhad (Petronas), for
Sept. 5, 2022