Latest News

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  DAPA endorses scheme to build next-generation frigates with improved anti-aircraft detection capabilities SEOUL -- South Korea's defense procurement agency endorsed a military scheme to go ahead with the home-made construction of next-generation frigates with improved anti-aircraft detection capabilities and viability. The project requires about 3.51 trillion won ($3.07 billion) from 2023 to 2032. The Defense Acquisition Program Administration (DAPA), a state arms procurement agency controlled by the defense ministry, said it has appr 2021-08-04
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  Jeon So-mi’s 'DUMB DUMB' surpasses 15 mln views in less than two days SEOUL -- Former I.O.I member Jeon So-mi’s third single music video has garnered over 15 million views on YouTube in less than 48 hours of its release. DUMB DUMB has racked up over 10 million views in less than 24 hours of its release. As of 2:45 p.m. Wednesday, the music video has garnered more than 15 million views. The single has also gained popularity abroad, making it into the top 10 in ten countries including Indonesia, Thailand and Malaysia. 2021-08-04
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  Hyundai auto group credited with bringing archers to Olympic fame SEOUL -- The outstanding performance of South Korean archers who have dominated the Olympic competition and international champions for decades was attributable to a scientific training program and the transparent selection of a national team, coupled with full and dedicated support from their rich corporate sponsor. South Korea has dominated archery since the modern archery competition was introduced in 1972, collecting 27 gold medals including four in Tokyo. Sinc 2021-08-04
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  Hip-hop label AOMG works with LGU+ to hold special non-face-to-face XR concert SEOUL -- A South Korean hip-hop label will hold a special non-face-to-face extended reality (XR) concert that would allow audiences can enjoy artists' realistic performances as if they were in virtual worlds like scenes in movies with technology support from LG Uplus, a mobile carrier that leads an international 5G XR alliance. XR encompasses a wide spectrum of hardware and software that enable content creation for virtual reality, mixed reality and cinematic r 2021-08-04
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  LG Chem's bio-balanced super-absorbent polymer shipped to client in Jordan SEOUL -- The first shipment of bio-balanced superabsorbent polymer produced by LG Chem, a chemical unit of South Korea's LG Group, went to Baby Life, a client based in Jordan. The product based on bio-materials such as renewable waste oil and palm by-products would be used for baby diapers. Superabsorbent polymer (SAP), known as slush powder, can absorb and retain extremely large amounts of a liquid relative to its own mass. The largest use of SAPs is found 2021-08-04
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  Celltrion ties up with U.S. biotech company TriLink to develop new mRNA vaccine platform SEOUL -- Celltrion, a South Korean biotech company known for the world's third COVID-19 antibody treatment, has tied up with TriLink BioTechnologies, a U.S. biotech company that provides gene therapy services to researchers, to develop a next-generation messenger RNA vaccine platform that can be applied to coronavirus variants. The San Diego-based company is a contract development & manufacturing organization (CDMO) helping life science leaders and inno 2021-08-04
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  Kakao's new webtoon service makes successful debut with dynamic teaser videos SEOUL -- A new webtoon service launched by Kakao Entertainment, a content and entertainment subsidiary of South Korea's web service company, made its successful debut in the domestic market, drawing attention by introducing dynamic teaser videos instead of thumbnails which are reduced-size versions of pictures or videos. Since its launch in South Korea on August 1, Kakao Webtoon achieved a turnover of one billion won ($871,339) in two days and posit 2021-08-03
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  JYP sets up subsidiary for global content distribution and new business development SEOUL -- JYP Entertainment, a major K-pop powerhouse in South Korea, will set up a subsidiary that serves as a strategic hub for advancing the global distribution of content, developing new businesses and enhancing the intellectual property of artists. JYP said the subsidiary named "JYP Three Sixty (JYP 360˚) is aimed at providing a wide range of innovative next-generation fan experiences, strengthening the global competitiveness of K-pop and ex 2021-08-03
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  Research center demonstrates beamforming for smooth 6G tecommunication in THz band SEOUL -- Broadband wireless transmission using Terahertz frequencies is a key transmission technology to achieve high transmission speed and support many 6G mobile telecommunication subscribers. A South Korean research center has succeeded in demonstrating a broadband beamforming solution that can address the reduction in communication distance due to the use of Terahertz frequencies. Terahertz (THz) is a unit of frequency defined as one trillion cycles per secon 2021-08-03
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  Netmarble diversifies game portfolio thru acquisition of social casino company SpinX SEOUL -- Netmarble, a major mobile game developer in South Korea, has set the stage for a diversified game portfolio needed to expand its global presence through a $2.19 billion deal to take over SpinX, a Hong Kong-based company that provides a social casino service where users can play popular casino games like roulette, video poker, slots, and blackjack without betting real money. In a regulatory filing on August 3, Netmarble said it would borrow some 1.78 2021-08-03
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  Attack drone capable of remote control grenade shooting selected for military testing SEOUL -- South Korea's military will test an attack drone capable of remote control shooting that uses an optical thermal imaging camera and laser, allowing soldiers to directly aim at targets within two kilometers and fire six 40mm grenades that use the explosive power of gunpowder and debris embedded in each shell. The Defense Acquisition Program Administration (DAPA), a state arms procurement agency controlled by t 2021-08-03
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  Naver invests $8.6 mln in online butcher’s shop SEOUL -- South Korea’s top web portal service operator Naver has made a strategic investment of 10 billion won ($8.6 million) in Jeongyookgak, an online butcher’s shop known for selling slaughtered pork in three or four days. The investment is aimed at strengthening the startup's fresh goods distribution capabilities. Jeongyookgak places more importance on taste than looks and utilizes special packaging techniques that can minimize the amoun 2021-08-02
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  Excavation confirms world’s largest dolmen as Bronze Age graveyard SEOUL -- South Korea's largest Bronze Age dolmen discovered in 2007 during the construction of a residential development zone has been officially recognized as a graveyard, not an altar, ending years of debate in the academic community over its purpose. The dolmen in Gimhae is 7.3 meters long, 5.0 meters wide, and 4.0 meters thick, and weighs 350 tons. Gimhae City said on July 30 that the dolmen in Gusan-dong turned out to be a graveyard built around th 2021-08-02
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  POSCO ties up with Australian partner Roy Hill to establish cooperative green system SEOUL -- South Korea's steel group POSCO has tied up with its Australian raw material supplier, Roy Hill Holdings, to establish a cooperative system for the reduction of carbon emissions, ranging from the production of hydrogen and joint research into hot briquetted iron, which is a briquetted form of direct reduced iron with high iron content. The two companies agreed on joint research to develop an optimal hot briquetted iron (HBI) production system. Norma 2021-08-02
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  Thailand signs $78 mln deal to purchase two more T-50 trainers from KAI SEOUL -- South Korea's sole aircraft maker has secured a new deal worth $78 million to deliver two more T-50 military trainers by the end of November 2023 to Thailand. The contract comes on the heels of efforts by Korea Aerospace Industries (KAI) to sell its trainer to Malaysia and other countries in Africa and South America. KAI said in a regulatory filing on August 2 that Thailand would receive two T-50 trainers with equipment for tactical training as wel 2021-08-02
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  Musinsa Standard releases cosmetics for men in their 20s and 30s SEOUL -- Musinsa Standard, a popular apparel brand in South Korea, has rolled out a product lineup targeting young men who hope to improve their looks to differentiate its products from other brands. The products’ release was prompted by the growing number of young men using cosmetics. Due to a COVID-19 pandemic, men's interest in skincare has significantly increased. According to a report released by Statistics Korea, the total cosmetics market in So 2021-07-30
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  Naver's online shopping service adopts AI system to simplify customer reviews SEOUL -- Through an artificial intelligence-based service, South Korea's online shopping giant Naver will help shoppers conveniently access simplified versions of customer reviews. Long and complicated reviews will be simplified to one or two sentences to speed up shopping. Online reviews play a vital role in South Korea's online shopping industry that stood at about 16 trillion won ($13.9 billion) in 2020. According to a 2017 survey of 1,200 consumers age 2021-07-30
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  Doosan Heavy wins $531 mln order to build four tanks in Dangjin LNG base SEOUL -- A consortium led by Doosan Heavy Industries & Construction, a key player in South Korea's power industry, has secured an order worth 610 billion won ($531 million) from a state gas company to build storage tanks in the country's fifth liquefied natural gas (LNG) base in the southwestern industrial port city of Dangjin. Doosan Heavy said it would build four 270,000-kiloliter-class LNG storage tanks and auxil 2021-07-30
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  Medipost's clinical trial approved to evaluate efficacy of knee osteoarthritis treatment SEOUL -- Medipost, a South Korean biotech firm know for stem cell-based treatment, has applied for state approval to go ahead with phase 2 clinical trials to evaluate the safety and efficacy of its next-generation intra-articular Injectable treatment and prevention of knee osteoarthritis, code-named "SMUP-IA-01" Medipost's SMUP-Cell platform technology for developing next-generation cell therapy products enables the selection of small-sized high 2021-07-30
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  Grand AI consortium formed in S. Korea to develop artificial brain with high-performance computational capability SEOUL -- In a state-sponsored project to catch up with the United States and China in an international artificial intelligence hegemony war, South Korea has formed a grand consortium involving more than 200 companies, colleges and research bodies to develop an artificial brain with the world's best computational capability. With an injection of about 44.5 billion won ($28.8 million) for the next five years, the "K-Hub" consortium, launched on July 29, 2021-07-30