Latest News

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  S. Korean consumers favor meal kit products than dining out due to price hike SEOUL -- The popularity of meal kits, ready-to-eat meal packs, at megastores has increased despite South Korea adopting re-opening policies, including lifting regulations on compulsory face masks in indoor environments. The unexpected popularity of the convenient heat-and-eat meal packs was affected by increased prices of daily necessities including food. Meal kits became popular in South Korea when the first wave of the COVID-19 pandemic hit the country in early 2020. People avoid 2023-02-16
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  Seoul's satellite city to provide smart care solutions for 543 vulnerable residents living alone SEOUL -- Three different smart care solutions -- the internet of things-based monitoring devices, artificial intelligence-based care robots, and Bluetooth-based robot psychologists -- will be distributed to middle-aged and older people with a high possibility of dying alone. The solutions, already used by some 300 residents in 2020, will be provided to additional 543 residents. The total number of single-person households in Seongnam is 122,461. About 38.5 percent of them are aged 2023-02-16
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  [OPINION] ​Tragic devastation in Turkey and Syria KENOSHA, Wisconsin -- The tremendous devastation in Syria and Turkey as a result of the February 6 earthquakes is an ongoing important focus of world action. The l 2023-02-16
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  ​China to resume issuing short-term visas for South Koreans February 18 SEOUL -- China has decided to resume issuing short-term visas for South Korean travelers on February 18, the Chinese Embassy in Seoul said on February 15. The decision was made four days after South Korea restarted the issuance of short-term visas for travelers from China. The Seoul government lifted the visa restrictions as China's new COVID-19 wave began to recede and a mere 1.1 percent of travelers from the neighboring country tested positive for the coronavirus. The Seo 2023-02-15
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  South Korea's sovereign wealth fund suffers largest loss of $29.7 billion in 2022 SEOUL -- South Korea's sovereign wealth fund showed the worst performance last year since it was created in 2005, logging a loss of $29.7 billion (38 trillion won) due to falling stock prices and volatile debt markets, according to the fund's operator Korea Investment Corporation (KIC) on February 15. In a KIC report submitted to Rep. Yang Kyung-sook of the main opposition Democratic Party of Korea (DPK), the sovereign fund posted a 14.36 percent loss in 2022 as it suffered 2023-02-15
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  State research institute develops 'Electronic nose' sensor for real-time gas analysis SEOUL -- A team of researchers developed a low-power-consuming "electronic nose" sensor that can detect and analyze gases in real-time. Because the sensor uses micro light emitting diodes (LEDs) for the detection of gases, the sensor consumes about 0.01 percent of electricity compared to conventional gas sensors. Normally, gas sensors use integrated heaters to change the conductivity of sensor materials so that they can detect different types of metallic oxide substances 2023-02-15
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  Reality competition series 'Physical: 100' captivates global fans on Netflix SEOUL -- "Physical: 100," a South Korean competition show featuring physically fit contestants engaging in various games and competitions to win prize money of 300 million won ($233,681), became the most watched content on Netflix's non-English chart. The reality survival content showcases various celebrities such as UFC fighter Akiyama Yoshihiro (Choo Sung-hoon) and the 2012 London Olympic vault champion Yang Hak-seon. The global streaming service giant said that t 2023-02-15
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  ​411,000 jobs added in January, posting lowest growth in 22 months amid economic slowdown SEOUL -- South Korea added 411,000 jobs to the economy in January, recording the lowest job growth in 22 months, Statistics Korea said February 15. The slow job growth was attributed to an economic slowdown and the falling population. The number of employed people increased by a mere 1.52 percent, or 411,000, to 27,363,000 last month from a year earlier, according to the statistical office. The payroll increase has continued to slow down since 935,000 jobs were added in May 20 2023-02-15
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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 main 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' main 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 2021. 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