Latest news
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S. Korean economy to face 'serious slump' due to lack of growth momentum: think tank
SEOUL -- The Korea Economic Research Institute (KERI) has revised down its 2023 economic outlook for South Korea to 1.5 percent from its previous projection of 1.9 percent. In a recent report, the institute affiliated with the Federation of Korean Industries (FKI) warned that the South Korean economy could enter the stage of a "serious slump" due to a lack of growth momentum. The think tank said the country will experience a lower growth, hit by sagging domestic dem
February 3, 2023 -
Arms procurement agency opens research center for space monitoring & reconnaissance tech
SEOUL -- South Korea's arms procurement agency has partnered with a prominent state research institute to open a research center specialized in technologies for the operation of grouped satellites and the monitoring and reconnaissance of the earth's surface. A heterogeneous constellation refers to a mixed group of orbital satellites. Normally, different types of satellites do not cooperate with each other because they are based on different platforms and operating systems.
February 3, 2023 -
Exports of 'K-content' products rise 4.4% to $12.45 billion in 2021
SEOUL -- South Korea's exports of cultural and entertainment products increased 4.4 percent year-on-year to $12.24 billion in 2021, according to data released by the Ministry of Culture, Sports and Tourism. The amount was higher than the exports of major products such as home appliances, secondary batteries, electric vehicles and display panels. This means that Korean-made entertainment and cultural products, better known as K-content, have emerged as one of the country's k
February 3, 2023 -
Seoul to deploy portable defibrillators to 175 convenience stores located in populated areas
SEOUL -- To help people take action while waiting for rescuers to arrive in emergency situations such as cardiac arrest, Seoul will distribute automated external defibrillators to some 175 convenience stores located in areas with a lot of moving population. Store workers will be given special lessons so that they can skillfully operate the life-saving devices under emotional pressure. An automated external defibrillator (AED) is a portable device that automatically analyzes the lif
February 2, 2023 -
KT ties up with tablet device maker T-Order to provide AI service robots for restaurants
SEOUL -- KT, one of the major telecom companies in South Korea, will work with T-Order, a domestic tablet device developer, to connect its service robots with T-Order's tablet and provide them for various restaurants. Customers will be able to order menus through T-Order's tablet menu boards and receive food and drinks through KT's robots. The adoption of service robots has gained momentum in many South Korean restaurants to enable unmanned ordering. Restaurant owners w
February 2, 2023 -
Dutch semiconductor equipment firm ASM to invest $100 million in South Korea
SEOUL -- Dutch semiconductor equipment manufacturer ASM has agreed to invest $100 million to set up a new factory and expand its research and development center in South Korea, according to the Ministry of Trade, Industry and Energy. The ministry said that it signed a memorandum of understanding (MOU) with ASM on the latter's investment plan in Korea. The MOU was initialed between Trade and Industry Minister Lee Chang-yang and ASM CEO Benjamin Loh at a Seoul hotel on February 2
February 2, 2023 -
Foreigners buy 6.5 trillion won worth of local stocks in January, expecting economic recovery
SEOUL -- Foreign investors rushed to buy South Korean stocks worth 6.48 trillion won ($5.3 billion) on a net basis in January on the back of the weak U.S. dollar and growing expectations of a global economic recovery, according to data released by the Korea Exchange (KRX) on February 2. The monthly net purchase by foreigners was the largest since they bought 6.95 trillion won in January 2012. Their net buying reached an all-time high of 8.46 trillion won in September 2013. Fo
February 2, 2023 -
LGES to supply battery modules to commercial EV battery pack maker Freudenberg
SEOUL -- LG Energy Solution, the battery-making wing of South Korea's LG Group, signed a supply deal with a U.S.-based commercial electric vehicle battery pack maker called "Freudenberg e-Power Systems" to supply battery modules. Battery modules consist of cells, which are basic units of batteries. Battery cells are put together in a frame to form a module that can protect cells from external shock and heat. When modules are bundled up, they become battery packs, the
February 2, 2023 -
SK C&C forges partnership with Microsoft targeting global AI-based healthcare solution market
SEOUL -- SK C&C, the software solution-making wing of South Korea's SK Group, partnered with Microsoft's branch in Seoul to establish a bridgehead into the global artificial intelligence-based digital healthcare solution market. SK C&C's cerebral hemorrhage-detecting solution will become available through Microsoft's cloud healthcare platform. AI combined with big data is found to be extremely effective in image-based medical diagnosis as the robots can anal
February 2, 2023 -
Consumer prices jump 5.2 percent in January, driven by higher utility charges
SEOUL -- South Korea's consumer prices jumped 5.2 percent in January from a year earlier, remaining at the 5 percent level for the nineth consecutive month, according to data released by Statistics Korea on February 2. The statistical office said inflationary pressure increased due to rising public utility charges which surged 28.3 percent year-on-year last month, marking the biggest increase since 2010. The upsurge was driven by a hike in the rates of electricity and gas three
February 2, 2023
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Seoul unveils new slogan for iconic landmark 'Dongdaemun Design Plaza'
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VIDEO: Dongdaemun Design Plaza celebrates 10th anniversary
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Korean e-commerce firms vying to lure customers quitting Coupang over fee hike
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N. Korean leader inspects test-firing of new multiple rocket launcher shell
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Korean football team fails to qualify for Olympics for first time in 40 years
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Seoul aims to revitalize Han River into leisure, tourism hub
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Education startup Mathpresso makes TIME's top edutech company list
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Vietnamese schools adopt AI-based Korean learning platform
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VISUALS: Premier electric vehicle fair underway in Seoul
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HYBE takes legal action against NewJeans agency CEO amid management control feud