Latest news
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S. Korea reveals fishing boat capacity reduction plan for nearshore fishermen
SEOUL -- Due to the decreased catch affected by climate changes and overfishing, South Korea will carry out a nearshore fishing boat capacity reduction program. A total of 39 boats will be reduced in 2023 and subsidies will be provided in form of tax returns and reimbursements for estimated salvage values of boats and fishing equipment, and up to six months of salary for fishermen who lost their jobs because of the fishing boat reduction program. The reduction of fishing boat capac
January 11, 2023 -
Ateez ranks seventh on Billboard's top 200 popular albums chart with 'SPIN OFF : FROM THE WITNESS'
SEOUL -- K-pop boy band Ateez is garnering explosive popularity through its first single album titled "SPIN OFF : FROM THE WITNESS." The album was ranked seventh on Billboard's top 200 popular album chart. The album released on December 30 ranked seventh on January 9, according to KQ Entertainment, the eight-member band's agency. More than 40,000 copies of the album were sold. The music video for the album's title song "Halazia" gained more tha
January 10, 2023 -
SwRI to work with Korean automotive technology researchers for autonomous vehicle-related projects
SEOUL -- The Southwest Research Institute, a Texas-based nonprofit organization specializing in smart mobility, has partnered with an automotive technology research institute in South Korea to gain a competitive edge in self-driving technology. Various projects such as pedestrian behavior prediction and automatic speed control technology will be carried out. The Korea Automotive Technology Institute (KATECH) said in a statement that it has partnered with the Southwest Research Inst
January 10, 2023 -
Current account swings back to deficit in November
SEOUL -- South Korea posted a current account deficit again in November last year amid a steep fall in memory chip exports, according to the Bank of Korea on January 10. The BOK said the deficit was estimated at $620 million, compared to a surplus of $682 million a year before. The shortfall came after the current account returned to a surplus of $880 million in October. The current account, a broad measure of a nation’s global trade in goods and services as well as net e
January 10, 2023 -
LG Chem's lightweight plastic material used as exterior part of Mitsubishi vehicles
SEOUL -- A lightweight plastic component developed by LG Chem, the chemical unit of South Korea's LG Group, was used as an exterior part of vehicles made by Mitsubishi Motors, one of Japan's largest car makers. The new material which is about 8.8 pounds lighter than steel material can improve fuel efficiency and reduce carbon emissions. The plastic material called "LUCON TX5007" was used in the front fender of Mitsubishi Motors. Front fenders located on the side o
January 10, 2023 -
Shipbuilders suffer acute manpower shortage
SEOUL -- South Korean shipbuilders are suffering from an acute shortage of workforce when they already secured orders of vessels to be constructed in the next three years. The shortage has been caused not only by brisk orders, but also by negative factors such as low wages and difficult working conditions, according to industry and labor experts. They pointed out that more and more shipbuilding workers have quit their job and moved to other workplaces because their wages contin
January 10, 2023 -
Broadcom offers fund worth $15.8 million to voluntarily correct unfair practices
SEOUL -- Broadcom Inc., a U.S. chipmaker, has offered to set up a 20-billion-won ($15.8-million) fund as part of voluntary measures to correct its alleged unfair business practices, the Korea Fair Trade Commission (KFTC) said on January 9. The proposal is seen as a move by Broadcom to avert any penalty from the antitrust regulator, or criminal charges for allegedly violating competition laws here in Korea. The KFTC said that it has been investigating allegations that the Americ
January 10, 2023 -
[CES 2023] HD Hyundai's holding company partners with Estonian SOFC manufacturer to develop fuel cells for ships
SEOUL -- Korea Shipbuilding & Offshore Engineering, the holding company of HD Hyundai, has partnered with Elcogen, a solid oxide fuel cells manufacturer in Estonia, to develop fuel cells for vessels and power generation. The two companies will also work with a German-based applied science research institute specializing in energy storage and fuel cell systems. Solid oxide fuel cells (SOFC) generate electrical energy by converting chemical energy through an electrochemical proce
January 10, 2023 -
Sales of pet food items of Shinsegae's online shopping mall increase 30 percent on-year
SEOUL -- Sales of pet food items at SSG.com, an online shopping mall operator run by South Korea's retail giant Shinsegae, significantly increased between January 2022 and January 2023, compared to a year ago. The online ecommerce operator said dog pads which are put on the floor when dogs defecate were best-selling products at its pet product shopping mall called "Molly's SSG." According to data released by SSG.com, dog pads were the most popular item as of Janua
January 9, 2023 -
[CES 2023] Lululab teams up with digital health management company Hancom Care Link to develop AI skincare analysis platform
LAS VEGAS -- Lululab, an artificial intelligence-based healthcare analysis company in South Korea, has partnered with Hancom Care Link, a digital healthcare platform operator specializing in gene analysis, to develop a smart skincare analysis platform. The platform with various skin data with patients' different physical features will be provided to medical centers associated with Hancom Care Link. Data released by market research firm Global Data showed that the South Korean s
January 9, 2023
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LG Electronics, Kakao Mobility collaborate on delivery robot service
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Analysts predict poor earnings for major Korean game publishers in first quarter
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Carmakers, tech firms gather in Seoul for premier industry show
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Label control battle casts shadow over NewJeans' comeback
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N. Korea leader praises accuracy of short-range ballistic missiles
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Hyundai Motor, Matrix Renewables sign solar energy deal for EV plant in US
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Korean oil refiners harness pyrolysis technology to recycle plastics
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Russia pushes back against cancellations of ballet shows in Seoul
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Korea witnesses aging workforce trend in SME labor market
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AI translation service for foreigners gains momentum in Korea