Latest news
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Simens Gamesa partners with Doosan Enerbility for offshore wind power projects in S. Korea
SEOUL -- Doosan Enerbility, a key player in South Korea's power industry, teamed up with Siemens Gamesa, a Spanish-German wind power solution producer, to carry out various offshore wind projects in South Korea. The South Korean manufacturer will adopt the Spanish-German company's offshore direct drive nacelle technology. A nacelle is a component of a wind turbine that houses various equipment including a shaft, gearbox, and generator. Although most wind turbines use a gear
February 7, 2023 -
Kakao Pay enjoys net profit of $22 million in 2022, despite service disruption
SEOUL -- Kakao Pay, the online payment arm of South Korea's tech giant Kakao Corp., posted a net profit of 27.5 billion won ($22 million) on a consolidated basis last year, the company said on January 7. The firm attributed the profit to handsome financial income from internal reserves which increased amid high interest rates. However, Kakao Pay suffered an operating loss of 45.5 billion won in 2022, compared to 27.2 billion won worth of loss a year earlier. The payment s
February 7, 2023 -
Sales of facemasks decrease after government lifts compulsory indoor mask regulations
SEOUL -- Sales of facemasks have decreased since the South Korean government lifted regulations on wearing masks in indoor environments on January 30. Sales of quick COVID-19 antigen test kits have also decreased. However, sales of convenient meal kits including lunchboxes and sandwiches at convenience stores have increased, reflecting that more people are starting to eat freely in indoor spaces including offices and public areas. South Korea recorded 5,850 new COVID-19 cases on Februa
February 7, 2023 -
S. Korean firms concerned about possible deterioration in business environment in Vietnam: survey
SEOUL -- South Korean companies doing business in Vietnam have concerns about a potential deterioration in the business environment in the Southeast Asian country, according to a recent survey conducted by the Korea Institute for Industrial Economics and Trade (KIET) and the Korea Chamber of Business in Vietnam (Kocham). Out of 326 surveyed Korean firms, 49.7 percent said they predict that the business environment there will get worse down the road. And 38 percent of them cited t
February 6, 2023 -
India to benefit from US-China great power rivalry: BOK
SEOUL -- The Bank of Korea (BOK) said February 5 that India is likely to benefit from the ongoing great power competition between the United States and China. The central bank said in a report that if China's role is reduced in the global supply chains due to conflicts between the U.S.-led Western democracies and authoritarian countries such as China and Russia, India could emerge as a beneficiary of the rivalry. The BOK took an example of Taiwan's Foxconn, the world
February 6, 2023 -
South Korea's 5G service users increase by about 600 percent since 2019
SEOUL -- The number of South Korea's 5G mobile communication service users increased by about 600 percent compared to some 4.6 million users in 2019. 5G networks that offer up to 100 times faster data transfer speed than 4G networks were commercialized in the country in early 2019. South Korea's 5G mobile communication service was first introduced in April 2019. The number of users increased to some 11.8 million in 2020 and 20.9 million in 2021. Since the latest generation
February 6, 2023 -
Papa John's Korea releases first vegan pizza products in S. Korea
SEOUL -- Targeting South Korea's steadily growing vegan population, the South Korean office of American pizza restaurant chain Papa John's has rolled out vegan pizza products for the first time among domestic pizza brands. The plant-based pizzas will be sold through more than 220 Papa John's stores across the country. South Korea's vegan meat market has been rapidly growing to meet demands of some 2 million vegans. Data released by the Korea Agro-Fisheries & Foo
February 6, 2023 -
Fuel prices surge 31.7% in January, hitting highest level since April 1998
SEOUL -- Fuel prices skyrocketed more than 30 percent in January, driven by high global energy prices, according to the Korea Statistical Information Service (KOSIS). The state data portal said February 5 that the fuel price index surged 31.7 percent year-on-year to 135.75 last month, hitting the highest level since it soared 38.2 percent in April 1998 in the aftermath of the 1997 Asian financial crisis. Electricity charges jumped 29.5 percent, the highest since they climbed
February 6, 2023 -
State institute develops reliable AI with keen physics insights for video image restoration
SEOUL -- A research team from a prominent state research institute has developed artificial intelligence that can predict variables based on the law of physics. The AI would be ideal for comparing medical images for an accurate diagnosis of diseases or for detecting defects at a semiconductor factory. While an ordinary video clip with clear images can be analyzed by an AI-based solution, other video clips that have diffracted images and objects blurred by movement are difficult t
February 6, 2023 -
KT's AI certificate 'AICE' to be adopted in Seoul's vocational schools' curriculum
SEOUL -- To nurture artificial intelligence experts, the Seoul Metropolitan Office of Education will adopt AI Certificate for Everyone (AICE), an artificial intelligence-related certificate program created by South Korea's major telecom company KT, at 10 vocational high schools. Students who completed the program can receive benefits when applying to several companies including KT. AICE, which has five different levels from beginner to professional, evaluates the ability to uti
February 6, 2023
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Korea's workforce expected to decline 10 million by 2044
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Queer parade to take place in central Seoul on June 1
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Event promoting Korea underway in Paris ahead of Olympics
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Stray Kids to drop collaborative single with Charlie Puth this week
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Korean oil refiners ramp up car wash business amid declining profit margins
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BTS leader RM to drop prerelease track from second solo album this week
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Commemorative event explores Tagore's legacy in Korea
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VISUALS: Indian philosopher Tagore's 163rd birth anniversary celebrated on Nami Island
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John Y. Lee, Korean War hero who interpreted for MacArthur, dies at 95
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'We support BTS, not HYBE'