Latest news
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Kakao Entertainment attracts $963.8 million investment from global funds
SEOUL -- Kakao Entertainment Corp., South Korean tech giant Kakao Corp.’s entertainment and media unit, has attracted investment worth 1.2 trillion won ($963.8 million) from two global sovereign wealth funds, the company said on January 12. According to the company, Saudi Arabia’s Public Investment Fund (PIF) and Singapore’s Pwarp Investment PTE have decided to invest 600 billion won equally in Kakao Entertainment. Kakao said that the sum is the largest invest
January 12, 2023 -
Pinkfong selects former Disney short-form content creator David Levy to lead studio in US branch
SEOUL -- David Levy, a veteran short-form content creator who directed various Disney animated videos, has been picked to lead a studio in the American branch of Pinkfong, a South Korean educational entertainment company known for a catchy cartoon song called "Baby Shark." The former Disney animation director will lead the intellectual property business and work with global studios. Short-form videos that are normally 15 to 60 seconds long are gaining popularity in the co
January 12, 2023 -
Businesses worried about China's potential retaliation following pandemic-related visa dispute
SEOUL -- South Korean businesses are concerned about a potential trade retaliation by China following Beijing’s decision to suspend short-term visas issuance and transit visa exemption for South Korean and Japanese citizens. Such concerns have arisen since the Chinese immigration office said on January 10 that South Korean and Japanese travelers cannot enjoy transit visa exemption which is to allow them to stay in a Chinese city for 72 hours to 144 hours while transiting thro
January 12, 2023 -
Southern port city to invest $4 mln to create urban forests in 22 areas
SEOUL -- The southern port city of Busan will invest five billion won ($4 million) to create urban forests over 22 areas that are equivalent to some four football fields. Busan, South Korea's second-largest city, has a population of 3.4 million over an area of 770 square kilometers. However, about 47 percent of the city consists of mountains, making the city very cramped with a small number of green areas that are easily accessible by citizens. The port city famous for it
January 12, 2023 -
Seoul to utilize drones to monitor tile roofs of traditional Hanok buildings
SEOUL -- Seoul will adopt a safety inspection service using drones to manage traditional Korean houses called "Hanok." The drone safety inspection service will check the condition of tiled roofs instead of having human inspectors climb up the old buildings. Any Hanok residents in Seoul can request the city government for a drone inspection service if they find maintenance issues such as water leaks. Seoul currently has about 8,000 Hanok buildings. According to the city,
January 12, 2023 -
LG Chem to recycle marine waste into plastic for pyrolysis fuel production
SEOUL -- LG Chem, the chemical unit of South Korea's LG Group, forged a partnership with NETSPA, a domestic marine waste disposal company, to recycle marine waste into plastics that are used in pyrolysis fuel production. About 50 percent of ocean waste in South Korea is composed of fishnets and buoys made of plastic. Fishnets that are lost or abandoned cause damage to the marine environment. Biodegradable fishnets are currently being developed and distributed to reduce damage c
January 12, 2023 -
Rare ginseng worth some $545,000 found in S. Korea
SEOUL -- An extremely rare ginseng which is estimated to be about $545,000 has been found in a mountainous area in South Korea's southwestern region by a mountain hiker. The ginseng weighing some 0.9 pounds has a high proportion of Rg3, a biological component used to treat cancer. Rg3 is a type of saponin that inhibits the growth of cancer cells, improves blood circulation and lowers blood pressure. It is easily absorbed in the body compared to other saponin substances. The i
January 11, 2023 -
McCarthy's turbulent start
KARACHI -- Finally, after four days of grueling ballots that were laced with coercing, pleading, arm-twisting, bribing, and finger-jabbing, Kevin McCarthy was able to flip some 20 conservative holdouts to become
January 11, 2023 -
Number of jobs increases by 810,000 in 2022, hitting 22-year high
SEOUL -- The number of jobs increased by 810,000 to 28.08 million last year from a year before, boosted by stable economic growth and a return to normal life from the COVID-19 pandemic, according to Statistics Korea. The increase was the largest since 2000 when the number climbed by 882,000. The previous record was set in 1987 when the figure rose by 849,000. Gong Mi-suk, director in charge of social data at the statistical office, said that the boom in the job market was attri
January 11, 2023 -
LINE's subsidiary partners with blockchain company to co-develop global NFT platform
SEOUL -- LINE NEXT, the non-fungible token-based service development wing of global messenger platform operator LINE, has forged a partnership with Finger Labs, a blockchain developer operated by digital marketing company Future Stream Networks, to co-develop a global NFT platform. A blockchain is a decentralized network where all connected users have a virtual ledger. When a change is made to a ledger, the same change is simultaneously made to all other ledgers, making the network
January 11, 2023
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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
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Korea reports world's first demonstration of integrated operation of urban air mobility systems
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SNU professor to spearhead Korea's inaugural space agency
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HD Hyundai establishes new headquarters for marine energy businesses