Latest News

• ​POSCO International partners with oil refiner GS Caltex to build edible oil refinery plant in Indonesia SEOUL -- POSCO International, a trading arm of South Korea's steel group POSCO, will work with GS Caltex, a major domestic oil refiner, to build a refinery plant for palm oil in Indonesia by the second quarter of 2025. The facility, with an annual capacity of 500,000 tons of refined oil, will be constructed in Kalimantan, the Indonesian portion of Borneo Island. Palm oil can be used to produce biofuel. GS Caltex has earlier partnered with POSCO and HMM, the world's eighth-l 12 October 2023
• Half-price small parcel service gains popularity among secondhand item traders: market data SEOUL -- Half-price small parcel delivery services operated by convenience store franchises are gaining popularity among secondhand item traders, market data showed. South Korea has various logistics services mainly operated by major conglomerates such as CJ Group and Hanjin. Such services offer small parcel delivery services for about 5,000 won ($3.7) per box. Packages normally arrive at their destinations in two days. Larger parcels are more expensive but they also arrive at custom 12 October 2023
• Number of overseas Korean proficiency tests to increase to double in 2024 SEOUL -- South Korea will double the number of Korean language proficiency tests held at overseas locations to meet the high demands of foreign people who decided to learn how to speak and write Korean because of Hallyu (Korean cultural wave). According to Duolingo, a smartphone app-based language-learning platform with some 74 million monthly active users, Korean was ahead of Chinese to be ranked sixth in the list of the top 10 second most popular languages to learn through Duolingo 12 October 2023
• LG Energy Solution records operating profit of $545.7 mln, up 40.1% year-on-year SEOUL -- LG Energy Solution, the battery-making wing of South Korea's LG Group, estimated that its operating profit in the third quarter of 2023 was 731.2 billion won ($545.7 million), up 40.1 percent from a year ago. This is the highest record in the third quarter for the battery maker, which has strived to build supply chains in North America. LG Energy Solution (LGES) said on October 11 that its operating profit reached 731.2 billion won and sales increased to some 8.2 trillion 12 October 2023
• Turkish Army band performs Korean folk song 'Arirang' in Seoul's central district SEOUL -- "Mehteran," the Turkish Army band, has performed Korean folk song "Arirang" at a special event designed to mark the 70th anniversary of the armistice agreement that ended the fighting in the Korean War (1950~1953). The performance was presented at a war memorial museum in Seoul's central district of Yongsan. Arirang is a song that pulls at many Koreans' heartstrings. The folk song with soothing melodies and poetic lyrics is frequently sung by Korean 11 October 2023
• [OPINION] House Speaker McCarthy's Fall Underscores Intense Partisanship KENOSHA -- Kevin McCarthy’s (R-CA) fall as Speaker of the U.S. House of Representatives has been especially sudden and dramatic but is only the latest example of intense, in 11 October 2023
• BLACKPINK member Jennie releases new video for song 'You & Me' SEOUL -- Girl band BLACKPINK member Jennie released a new jazz version of "You & Me," the 27-year-old's song released in early October. The live performance music video for Jennie's solo song garnered about 490,000 views in less than two hours of release. YG Entertainment, the girl band's agency, released the jazz version of You & Me at about 1:00 p.m. (0400 GMT) on October 11. The original song was released on October 6 to attract some 2.1 million views 11 October 2023
• Prices of sugar and salt skyrocket by about 17% on-year in September 2023 SEOUL -- Prices of sugar and salt, the essential ingredients of food, have increased by about 17 percent on-year in September, showing the sharpest increase rate in 2023. The increase in the prices of sugar and salt could lead to increased prices of other products such as processed foods, drinks, and restaurant food menus. The price hike was caused by the increased import prices of raw sugar from countries such as Brazil, and Colombia and sudden. South Korea produces white and brown 11 October 2023

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