Latest news
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Anti-drone system to be established in S. Korea's central city of Daejeon
SEOUL -- In an effort to efficiently handle unexpected threats caused by drones, South Korea's central city of Daejeon will build an anti-drone system for state-run agencies. After the establishment of the prevention system, the city will demonstrate its aerial surveillance functions. Anti-drone systems are mostly used to detect drones and neutralize them before aerial vehicles reach the country's key facilities. According to South Korea's Joint Chiefs of Staff (JCS), f
February 27, 2023 -
Non-consumption expenditure accounts for 26.5% of total household spending in 2022
SEOUL -- Non-consumption household expenditure including tax and interest payments accounted for more than a quarter of entire household spending last year, the Korean Statistical Information Service (KOSIS) said February 27. The average non-consumption household expenditure was estimated at 951,000 won ($719) in 2022, up 8 percent from a year before, according to the KOSIS affiliated with Statistics Korea. The sum represented 26.5 percent of total average household spending of 3.5
February 27, 2023 -
McDonald's Korea to collaborate with girl band NewJeans for promotion of new menu
SEOUL -- The South Korean office of McDonald's will collaborate with NewJeans, a girl group formed by ADOR, a subsidiary label of the agency of K-pop superstar BTS, to promote its new menu. The five-member band has captivated global fans through dance songs such as Attention, Ditto, and OMG. McDonald's Korea said in its Instagram post: "Curious about a crispy burger which NewJeans is looking for? 3/2 Coming Soon!" A photo of the girl band was also posted on the co
February 27, 2023 -
Korean-built No. 3 reactor starts commercial operation in UAE's Barakah nuclear plant
SEOUL -- The United Arab Emirates (UAE) has launched the commercial operation of the third reactor of the Barakah nuclear power plant built by South Korea, the Korea Electric Power Corp. (KEPCO) said February 26. The operation started February 24, eight months after the UAE issued an operating license and completed the process of inserting fuel rods into the reactor in June 2022, according to the state-run unitality company. The Barakah plant, located 270 kilometers west of Abu
February 27, 2023 -
South Korea faces vicious cycle of snowballing trade deficit, falling won, high inflation
SEOUL -- The South Korea economy is likely to slip into a vicious cycle of a snowballing trade deficit, a weakening Korean won against the U.S. dollar, and soaring inflation. According to the Korea Customs Service, the country suffered a trade deficit of $18.63 billion (24.56 trillion won) so far this year until February 20. The sum was 2.7 times the $6.98 billion shortfall the country posted a year before. In the first 20 days of February, the deficit was estimated at $5.98 bi
February 27, 2023 -
BTS' main dancer J-Hope to roll out solo single 'on the street' in March
SEOUL -- BTS member J-Hope will release his solo single before starting his mandatory military service in South Korea. The 29-year-old composed the song titled "on the street" which is a place where he first started to dream of becoming an artist. "The title 'on the street' refers to j-hope's roots—street dance—from which his dream to become an artist began, and the path the artist and fans will continue to walk together," said Big Hit th
February 27, 2023 -
Kakao's AI development wing to kick-start $7.6 mln fund to commercialize hyperscale AI
SEOUL -- Kakao Brain, the artificial intelligence development wing will kick-start a fund worth up to 10 billion won ($7.6 million) during the first half of 2023 to commercialize the company's AI-based image generation application. Hyperscale AI refers to AI technologies and techniques at a massive scale to solve complex problems and process an enormous amount of data. Hyperscale AI is often used in natural language processing and AI-based image generation. AI image generat
February 27, 2023 -
[Weekly Stock Market] Overall foreign buying trend is likely to continue
SEOUL -- The benchmark Korea Stock Price Index (KOSPI) ended at 2,423.61 last week, down 1.13 percent from a week before, as the index was predominantly pressured by foreign selling. For the first time this year, on a weekly basi
February 26, 2023 -
Malaysia signs $920 million deal to buy South Korean light fighter jets
SEOUL -- South Korean aircraft maker Korea Aerospace Industries (KAI) has secured a deal worth $920 million (1.2 trillion won) to deliver 18 light fighter jets called "FA-50" to Malaysia starting in 2026. KAI said in a press release February 24 that FA-50 was selected as the preferred bidder by Malaysia's defense ministry among six light fighters that include Russia's MIG-35, Turkey's Hurizet and India's Tejas. Malaysia has become the sixth Southeast Asian
February 24, 2023 -
KEPCO suffers record operating loss of $25 billion in 2022 due to soaring fuel prices
SEOUL -- The state-run Korea Electric Power Corp. (KEPCO) said February 24 that it suffered a record operating loss of 32.63 trillion won ($25.02 billion) last year, prompted by soaring fuel prices and a slow pace of electricity rate hikes. The loss was more than five times the company's 2021 operating loss of 5.84 trillion won. In the last three months of last year alone, KEPCO incurred a 10.76 trillion won loss, hitting an all-time high quarterly figure. KEPCO said that i
February 24, 2023
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PHOTOS: Korean activists rally for LGBTQ rights on key commemoration day
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Imported electric vehicle registrations surge 150% this year
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Protecting wetlands crucial for migratory birds: New Zealand envoy
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Seafood meal kits gain limelight at industry fair as Korean food makers target ready-to-eat market
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PHOTOS: Seoul Int'l Garden Show underway at Han River park
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Korean Air Force embraces memes, defying military stereotypes
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Korean spicy sauces gain global popularity
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Culture minister advocates for Hangeul signboard at Seoul's iconic gate of royal palace
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HYBE chairman ranks sixth among Korean business leaders in stock assets
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More people fall victim to dating violence in Korea