Latest News

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  Researchers develop film-like soft robot actuator capable of detecting methanol in water SEOUL -- Researchers from a prominent state research institute have developed a film-like soft robot composed of chiroptical photonic crystals, which are optical nanostructures, that can detect methanol (CH3OH) in water. The robot can also fold, bend, and twist in response to external stimuli. Chiroptic is a term referring to the optical technique that uses refraction, absorption, or emission of anisotropic radiation for investigating chiral substances including methanol (CH3OH), 2 2023-02-15
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  BTS's lead rapper Suga to go on solo world tour in six countries SEOUL -- BTS member Suga will go on a solo world tour, starting with the first concert in Belmont Park, New York on April 26. The 29-year-old became the first BTS member to launch a solo world tour. Big Hit, the seven-member band's agency, said in a statement on February 15 that Suga will cover six countries -- United States, Indonesia, Thailand, Singapore, South Korea, and Japan. BTS' lead rapper will interact with global fans from April to June in various cities including 2023-02-15
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  CJ Cheiljedang becomes first S. Korean company to exceed $8 billion in food sales SEOUL -- CJ Cheiljedang, a key subsidiary of South Korea's food and entertainment conglomerate CJ Group, has recorded 11.1 trillion won ($8.75 billion) in food sales in 2022. The company which gained global popularity through a Korean cuisine brand called "Bibigo" has become the first domestic company to exceed food sales of 10 trillion won. Cheiljedang has strived to gain a competitive edge in the global market and nurture Bibigo as a global brand. The company acquir 2023-02-14
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  Kakao taxi-hailing app fined for giving preferential treatment to franchise caps SEOUL -- The Korea Fair Trade Commission (KFTC) has decided to impose a fine of 25.7 billion won ($20 million) on the tax-hailing service unit of tech giant Kakao Corp. for having manipulated its algorithm since 2019 to give more calls to cabs under its franchise. On February 14, the KFTC said that Kakao Mobility has strengthened its dominant market status in an unfair manner by giving preferential treatment to its franchise taxis under the KaKao T Blue brand, although the company& 2023-02-14
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  Researchers find possibilities of agricultural contaminants speeding up human aging SEOUL -- Researchers developed a smart technology capable of predicting how agricultural contaminants can damage the environment and the human body. It was discovered that contaminants generated during crop production can accelerate the aging process of mammals including humans. It's been difficult to identify how harmful factors from crop production affect the ecosystem and human health. However, accurate analysis and prediction are essential as farm contaminants can be leaked 2023-02-14
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  50 domestic firms' dividend payments down 13.7% in 2022 amid weak economy SEOUL -- Fifty major domestic companies' combined dividend payments decreased 13.7 percent year-on-year to 15.66 trillion won ($12.35 billion) in 2022 on the back of an economic slowdown, Leaders Index, a corporate analysis institute, said February 14. The institute said the dividend cut was attributed to overall weak corporate performance amid sluggish exports and falling domestic demand in the wake of the global economic slump. Leaders Index selected 50 out of the country 2023-02-14
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  LegoChem secures licensing agreement with Elthera AG to develop anti-drug conjugate therapy SEOUL -- LegoChem Biosciences (LCB), a clinical-stage biopharmaceutical company in South Korea, has signed a license agreement with Elthera AG, a Switzerland-based biotechnology company, to adopt utilize a monoclonal antibody capable of attacking proteins that appear in various types of cancers such as pancreatic and ovarian cancer. Using the antibody, the South Korean company will also develop and commercialize antibody-drug conjugate technology. An antibody-drug conjugate (ADC) i 2023-02-14
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  NewJeans garners explosive popularity among American Spotify users through OMG and Ditto SEOUL -- Girl band NewJeans is gaining explosive popularity among American fans. Currently, the United States is the region where the five-member band's dance songs -- OMG and Ditto -- are consumed the most on Spotify, the world's most popular music streaming service. As of February 10, OMG was played 22.71 million times in the United States, which accounted for more than 20 percent of total streams with 111.28 million, Spotify said in a statement on February 13. Of the 164 2023-02-13
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  SK Plasma partners with Janssen Korea to supply cancer medication Dacogen in S. Korea SEOUL -- SK Plasma, a South Korean producer of plasma-derived blood products, will become the domestic supplier of Dacogen, a cancer medication for a group of blood cell-related disorders called "myelodysplastic syndrome," by partnering with the South Korean office of Belgium-based pharmaceutical company Janssen Pharmaceuticals. Myelodysplastic syndrome takes place when bone marrow, soft tissue found in the center of the bones, is unable to produce enough blood cells. Acc 2023-02-13
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  Pulmuone partners with eco-friendly food tech company for commercialization of cultivated meat products SEOUL -- South Korean food product maker Pulmuone has partnered with a domestic green food tech company Simple Planet in a bid to commercialize cultivated meat products targeting vegans and other consumers who do not eat meat because of ethical reasons. According to Euromonitor, a global market research firm, South Korea's alternative meat market stood at about 20 billion won ($15.6 million) in 2022, up 28 percent from 2021's 16.5 billion won. The market is projected to rea 2023-02-13
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  South Korea to invest $391 million in future car technology SEOUL -- The Ministry of Trade, Industry and Energy plans to invest 499.4 billion won ($391 million) in developing future car technology this year as part of efforts to find a new growth engine for the Korean economy. The ministry said February 9 that the investments will be injected into 311 projects ranging from research and development to infrastructure building and manpower training. About 229.3 billion won will be set aside for technology development for eco-friendly cars 2023-02-13
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  ​S. Korea can benefit from China's reopening to boost exports, economic growth: report SEOUL -- South Korea is predicted to benefit from China's reopening from COVID-19 restrictions which can boost exports and economic growth of Asia's fourth largest economy, according to a report released by the Korea International Trade Association (KITA) February 12. The report said that China's reopening is likely to increase Korea's exports by an additional 0.55 percentage point and its economic growth by 0.16 percentage point in 2023. "China's econo 2023-02-13
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  CJ Olive Young captures young Middle Eastern consumers with color cosmetics brand Wakemake SEOUL -- CJ Olive Young, the drug and beauty store franchise of South Korea's CJ Group, has expanded its sales channels for a color cosmetics brand called "Wakemake" to the United Arab Emirates targeting young female Middle Eastern consumers. The South Korean company said Wakemake's eyeliner products are gaining explosive popularity, especially among Emirati female consumers who cover their faces with head coverings and only expose their eyes. According to data r 2023-02-13
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  [Weekly Stock Market] Markets to focus on macroeconomic data, China's reopening SEOUL -- The KOSPI, South Korea’s benchmark stock price index, experienced another volatile week closing slightly lower at 2,469.73 (-0.4 percent). As investors remained focused on overall inflationary trends, the much bette 2023-02-12
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  SK Telecom to provide virtual effects-related educational program for film production experts SEOUL -- South Korea's top mobile carrier SK Telecom (SKT) have teamed up with the Korean Film Council and a domestic virtual production company called XON Studio to provide virtual film production-related educational programs. Film producers can learn how to create films through virtual effects technology. Virtual effects (VFX), which incorporates computer graphics (CG) elements, is often used by filmmakers to produce imagery that is difficult to be filmed or doesn't exist 2023-02-10
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  [OPINION] Beijing's balloon and practical Asia realities KENOSHA, Wisconsin -- The large balloon launched by China, which drifted at a leisurely pace over North America until shot down by a U.S. F-22 fighter, is definite 2023-02-10
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  South Korea to resume issuing short-term visas for travelers from China SEOUL -- The South Korean government said February 10 that it has decided to resume issuing short-term visas in its diplomatic missions in China for those wanting to travel to Korea starting February 11. In a positive response to Seoul's decision, China said that it will actively consider lifting its visa restrictions against South Koreans. Chinese foreign ministry spokesperson Mao Ning told reporters that South Korea's lifting of visa restrictions on China is a step in the 2023-02-10
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  BTS agency Hybe to emerge as largest shareholder in SM Entertainment SEOUL -- Hybe, the agency of BTS, is expected to become the largest shareholder in entertainment powerhouse SM Entertainment, by purchasing a 14.8 percent stake. The decision was made while SM's founder Lee Soo-man embarked on a legal battle with SM's executive boards for issuing new shares to sell them to Kakao Corp., the domestic internet giant. Through SM, Lee has played a crucial role in popularizing K-pop through talented artists such as Girls' Generation, Super Ju 2023-02-10
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  4 German automakers engage in collusion on emission reduction device: regulator SEOUL -- The Korea Fair Trade Commission (KFTC) has decided to issue an order on four German automakers to correct its collusive scheme that caused their diesel cars to emit more nitrogen oxide (NOx). It has also decided to impose a combined fine of 42.3 billion won ($33.5 million) on three of the carmakers operating here. On February 9, the KFTC said it has found that the German brands -- BMW, Mercedes-Benz, Audi and Volkswagen -- were engaged in the collusive scheme in which they 2023-02-10
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  Woowahan Youths to launch electric motorcycle rental business for delivery workers SEOUL -- Woowahan Yooths, a logistics service provider affiliated with Woowa Brothers, the operator of South Korea's top food delivery service Baedal Minjok, has partnered with A Rental & Service, a domestic motorcycle rental service provider, to make a foray into an electric delivery motorcycle rental business. Motorbikes capable of traveling up to 24 to 31 miles with a fully charged battery will be provided for consumers. As of 2022, some 30,000 food delivery workers rode 2023-02-10