Latest News

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  [OPINION] Impending US debt default: A looming financial catastrophe? KARACHI -- As US President Joe Biden prepares to re-engage in negotiations with House Speaker Kevin McCarthy and other influential Republicans on the critical issue of the debt ceiling to find common ground amidst a landscape 2023-05-18
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  [COLUMN] Should we ask foreigners to call our country Hankook? SEOUL -- Now that President Yoon Seok-yeol has clearly declared that South Korea is a free market democracy and aligns itself with like-minded nations, it is now time to go one step further and disassociated ourselves in the global perception from North Korea? Of course, in our own minds, we are already very separate from North Korea. We know we are different. We 2023-05-18
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  ​Kakao's mobility service wing push to release van-hailing service in Jeju Island SEOUL -- Kakao Mobility, the mobility service wing of South Korea's web service giant Kakao, is pushing to release its van-hailing service in the southernmost resort island of Jeju. The island with an iconic dormant volcanic mountain was visited by some 14 million tourists in 2022. Jeju with a population of about 700,000 is one of the popular tourist spots frequently visited by South Korean and Chinese tourists. While tourists participating in package tour programs travel aro 2023-05-18
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  Doosan Robotics showcases robot chefs at S. Korean golf event SEOUL -- Robot chefs created by Doosan Robotics, a collaborative robot manufacturer in South Korea, are providing various food items such as fried chicken menus, hot dogs, French fries, and noodles at a golf event in South Korea's eastern city of Chuncheon. Visitors can also enjoy ice creams and beverages made by helper robots while waiting for golf matches. Doosan Robotics said in a statement that the company the robots were showcased on May 17 at the "Doosan Match Play C 2023-05-18
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  [INTERVIEW] Turkish envoy hopes Türkiye to become bridgehead for S. Korean businesses SEOUL -- Despite two massive earthquakes that took the lives of more than 50,000 Turkish people, Türkiye is ready to play a role of a bridgehead for small and medium-sized South Korean companies seeking to expand their business scope from the Asian markets to markets in the Middle East, Africa, and Europe. Turkish envoy to South Korea Salih Murat Tamer confidently said that the "blood brother country" of South Korea will welcome business partners with attractive benefits 2023-05-18
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  S. Korea to join global satellite image-based aid project for various disasters SEOUL -- South Korea was selected to support countries suffering from various types of disasters such as earthquakes by providing satellite video images. Using a state land satellite, the country will send high-resolution images capable of distinguishing different objects at an extremely high altitude. South Korea's transport ministry has provided emergency-related spacial information in domestic regions in case of natural disasters since 2020. In 2023, the ministry provided 2023-05-17
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  Rookie K-pop girl band Fifty Fifty gains explosive popularity through dance song Cupid SEOUL -- Fifty Fifty, a rookie girl band, has ranked 17th on Billboard's top 100 popular song chart with "Cupid," a disco song released in February 2023. The rookie girl group has expressed their strong feelings toward their crush through the single featuring relaxing vibes. The four-member band stepped into the spotlight after releasing the single, which has also entered the UK Singles Chart. As of May 17, its music video has garnered more than 58 million views on Yo 2023-05-17
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  Doosan to enter commercial hydrogen vehicle market with fuel cell technology SEOUL -- South Korea's Doosan Group will enter the commercial hydrogen fuel cell vehicle market using its hydrogen power drive system in a bid to create a new growth engine for the future clean energy era. The global hydrogen fuel cell-related market is growing consistently to reach $2 trillion by 2050 and South Korean technology companies are investing a total of more than 50 trillion won. Doosan Group founded Doosan Fuel Cell specializing in hydrogen fuel cell-based systems a 2023-05-17
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  Hyundai Wia makes foray into EV heat management component market SEOUL -- Hyundai Wia, South Korea's car parts maker, has entered the global electric vehicle heat management component market with a coolant hub module that manages the heat released by the batteries, motors, and other electric components. Hyundai Wia's module will be installed into Hyundai Motor and Kia's EV models. Heat management is an important aspect in the operation of an EV. When an EV's parts are heated, the overheating could lead to degraded performance or 2023-05-16
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  S. Korea's TV home shopping industry struggles to capture customers SEOUL -- Due to fewer people watching TV, South Korea's TV home shopping industry is struggling to capture more customers. Major home shopping show operators experienced a sharp decrease in operating profit. South Korea's TV home shopping market which stood at 5.56 trillion won ($4.16 billion) in 2019 saw a slight increase of 5.9 percent to reach 5.89 trillion won in 2020 when people stayed at home and watched TV to avoid being infected by COVID-19. However, the market siz 2023-05-16
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  Kia to build EV facility plant in Mexico's industrial state of Nuevo Leon SEOUL -- Kia, an affiliate of South Korea's Hyundai auto group, would build a factory with electric vehicle production facilities in Mexico's northeastern industrial state of Nuevo Leon. Without disclosing specific information, Nuevo Leon governor Samuel García Sepúlveda said about $1 billion would be injected for the establishment of the plant designed to produce two different vehicle models. The deal can help the South Korean carmaker to overcome a U.S. Inflatio 2023-05-16
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  BTS agency unveils collaboration project with AI voice synthesis tech startup SEOUL -- BTS agency has released a digital single created by combining the voice of a human artist and artificial intelligence-based voice synthesis technology. The new single titled "Masquerade" is available in six languages -- Korean, English, Japanese, Chinese, Spanish, and Vietnamese. Masquerade, rolled out on May 15, was produced after Lee Hyun, a member of disbanded vocal group 8Eight, sang the song in six languages. Using AI voice synthesis technology by AI startup 2023-05-15
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  CJ Cheiljedang to release spicy rice cake menu Tteokbokki in North America and Europe SEOUL -- Targeting global consumers in North America, Europe, and Asia, CJ Cheil Jedang, a key subsidiary of South Korea's food and entertainment conglomerate CJ Group, will release Korean street food products including Tteokbokki, a menu of finger-sized rice cakes simmered in fiery-red spicy chili sauce. The street food menus will be included in Bibigo, a Korean cuisine brand that achieved 11.1 trillion won (8.3 billion) in sales in 2022. CJ Cheiljedang is the first South Kore 2023-05-15
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  ​Sales of Hyundai and Kia cars increase in India for more than 12 consecutive months SEOUL -- Sales of Hyundai Motor and Kia vehicles in India, the world's third-largest automotive market, are steadily increasing. Sales of Hyundai cars have increased for 12 consecutive months while Kia's sales increased for 14 months in a row. According to data released by the Society of Indian Automobile Manufacturers (SIAM) on May 15, accumulated sales of Hyundai and Kia cars in India in the first four months of 2023 stood at 295,359 units, up 15.5 percent from the same p 2023-05-15
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  Hyundai shipbuilding group's subsidiary to develop ultra-high-efficiency solar cells SEOUL -- HD Hyundai Energy Solutions, the solar power wing of South Korea's Hyundai shipbuilding group, will lead a state project to develop an ultra-high-efficiency large-surface solar power generation module. By 2026, the solar energy solution provider aims to develop hetero-junction technology and mass-produce products that can significantly reduce the amount of energy loss when converting sunlight into electrical energy. According to data released by HD Hyundai Energy Solut 2023-05-15
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  ​S. Korean battery makers could face supply shortage in copper in 10 yrs: industry SEOUL -- South Korean battery makers could face a supply shortage in copper, the main material for copper foil and other key components of secondary batteries, while they focus on acquiring a stable supply line of lithium, which is also a key material for lithium-ion batteries used for electric vehicles, industry officials said. According to data released by London Metal Exchange (LME), the price of copper reached $8,263 per ton on May 15. Global investment management firm Goldman 2023-05-15
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  ​S. Korea's state power company to establish submarine high voltage power 'expressway' to connect cities SEOUL -- South Korea's state power company has revealed a 15-year project to establish a power "expressway" underwater using submarine high voltage direct current cables to draw excess electricity from southern areas to the capital city of Seoul and its satellite cities. Currently, Seoul and its surrounding cities have the highest population density of 2,195 people per square kilometer, which is about five times larger than that of the southern port city of Busan, w 2023-05-15
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  Pulmuone's Asian noodle products gain explosive popularity in US market SEOUL -- Seoul-based food company Pulmuone has recorded $72.2 million in sales of Asian noodles in 2022, up 65 percent from a year ago. Targeting American consumers, the food company has showcased various refrigerated noodle products including ramen with pork and broth, and Japchae, a Korean stir-fried noodle dish with beef and various vegetables. According to data released by market research firm Research and Markets, the instant noodles market in the U.S. was estimated to be $1 b 2023-05-15
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  AI company ESTsoft showcases virtual fitness trainer for Pilates trainees SEOUL -- South Korean artificial intelligence company ESTsoft has released a virtual fitness trainer for those who want to learn pilates and yoga at home. After analyzing users' movements, the virtual instructor helps trainees to exercise properly and give various advice on Howfit, an AI-based fitness training application. Howfit said in its Instagram post on May 12: "We are showcasing virtual human Kim Yi-so’s pilates class on Howfit!" The virtual trainer crea 2023-05-12
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  ​Probiotic brand Duolac makes foray into pet market SEOUL -- Targeting South Korea's growing pet market, the lactic acid bacteria brand of Cell Biotech, a Seoul-based probiotic company, made a foray into the pet nutrition market by releasing a pet lactic acid bacteria product. The chewable supplement product can help animals improve internal microbial conditions as the majority of immune cells live in their intestines. Data released by South Korea's agriculture ministry showed that about one out of four South Koreans raise 2023-05-12