Latest News

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  Squid Game actor Lee Byung-hun to discuss future of Korean Cultural Wave at Standford University SEOUL -- Lee Byung-hun, a South Korean actor who starred in Netflix drama series Squid Game, will interact with global fans at a conference held by Standford University's research institute specializing in contemporary Asian studies. The conference is designed to discuss directions for South Korean films, K-drama, and Korean studies. Squid Game, released on September 17, 2021, was watched by some 111 million households around the world only 28 days after its release, beating Br 2023-04-05
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  S. Korea releases revised standards for construction of fuel cell-powered vessels SEOUL -- In a bid to gain competitiveness in the global hydrogen fuel cell-powered vessel market, South Korea has revised standards for the construction of ships equipped with a clean energy drive system. Global shipbuilders are trying hard to develop efficient eco-friendly fuel-based vessels to reduce their dependency on fossil fuels after the International Maritime Organization (IMO), a U.N. maritime safety agency, adopted compulsory measures to reduce greenhouse gas emissions fr 2023-04-05
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  Samsung to establish $3.1bln display cluster for world's first 8.6th-gen OLED panels in southern province SEOUL -- Samsung Display, a major flat panel maker in South Korea, will establish a display production cluster in South Chungcheong Province for the production of the world's first 8.6th-generation organic light-emitting diode flat panels. 4.1 trillion won ($3.1 billion) will be invested to create a production complex with an annual capacity of 10 million OLED display units by 2026. South Korea has been the leading country in the world's liquid crystal display (LCD) and org 2023-04-05
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  State financial watchdog releases mobile banking practice app for elderlies SEOUL -- In an effort to reduce the information gap between young people and elderlies, South Korea's financial watchdog has released a smartphone app that old people can use to familiarize themselves with mobile banking apps. South Korea with some 1.5 billion registered online and mobile banking users recorded a daily online transaction of about 75 trillion won ($5.7 billion) in the first half of 2022, according to the country's central bank. Smartphone users rely on mobil 2023-04-04
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  Test service for China-S. Korea multimodal transport kick-started for non-stop cargo truck logistics service SEOUL -- A multimodal transport service that would exempt cargo trucks from unloading and loading containers at docks was kick-started to see if the non-stop cargo logistics process can save time and manpower in international ecommerce parcel delivery processes between China and South Korea. Normally, when a cargo truck carrying a trailer box arrives at an international port, the cargo is unloaded and moved to a storage yard before it is loaded back onto a ship to head to overseas 2023-04-04
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  China's Aliexpress becomes S. Korea's most-downloaded ecommerce app in February SEOUL -- Aliexpress, an online shopping mall app service operated by China's online shopping giant Alibaba, was the most-downloaded ecommerce app in South Korea in February, overtaking Karrot, a South Korean secondhand item trading app with some 18 million monthly active users. Karrot, also known as Danggeun Market, was launched in 2015 as a secondhand item trading platform that matches sellers and buyers who live within a radius of about six kilometers (3.7 miles). The app g 2023-04-04
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  Baby Shark's creator gains explosive popularity in U.S. with latest series SEOUL -- "Bebefinn," a three-dimension video animation show featuring the five-member family of a 20-month-old baby, is garnering explosive popularity in the United States. The animation show created by South Korea's educational entertainment company Pinkfong has recorded 250 million views in the U.S. with 20 million hours of accumulated viewing time. Finn is an animated child who loves to play with Baby Shark. He has four family members -- mother, father, brother, an 2023-04-03
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  S. Korean men experiences rapid aging 10 years earlier than American men due to muscle loss SEOUL -- According to a report by InBody, a Seoul-based healthcare company, South Korean men experience rapid aging at the age of 35, about 10 years earlier than American men. The healthcare firm said the phenomenon is related to muscle loss caused by acquired factors such as smoking and a congenital reason. Data released by InBody showed that skeletal muscle mass in South Korean men decreases from the age of 35 while American males begin to lose at the age of 45. The report was cr 2023-04-03
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  Yanolja's consolidated sales increase 83% on-year to hit $459.2 mln in 2022 SEOUL -- Yanolja, South Korea's major online travel, leisure, and accommodation reservation app service, has recorded consolidated sales of 604.5 billion won ($459.2 million) in 2022, up 83 percent from a year ago, thanks to eased social distancing regulations and consumers' increased interest on traveling. When the first wave of the COVID-19 pandemic hit South Korea in early February 2020, people were basically grounded because of strict social distancing guidelines issued 2023-04-03
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  Daebo to host charity concert at golf course in northern city of Paju SEOUL -- Daebo Group, a medium-sized conglomerate in South Korea, will host a free charity concert at a golf course in the northern city of Paju. Various K-pop artists such as BTS and singer-actress IU participated in the annual donation event where fairways were recreated into a concert hall and a playground. Daebo said in a statement that the 19th Seowon Valley Charity Green Concert would begin on June 3. The company said the event, which first started in 2000, is designed to r 2023-04-03
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  S. Korean mega-marts choose to shorten operating hours due to changes in consumer patterns SEOUL -- South Korean major mega-mart brands chose to gradually shorten the operating hours of their stores due to changes in consumer patterns. Through a strict social distancing campaign that was rolled out in early 2020 to prevent the spread of COVID-19, more consumers started to use online shopping malls, including the shops operated by megastores instead of visiting crowded offline stores. The COVID-19 pandemic brought a significant change in South Korean consumers' shoppi 2023-04-03
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  S. Korean battery industry unshaken by US' new Guidelines for Inflation Reduction Act SEOUL -- South Korea's battery and copper foil industries are likely to stay unshaken by detailed guidelines for the Inflation Reduction Act released by the United States government. The act is designed to tackle the climate crisis and secure the U.S.'s position as a world leader in domestic clean energy manufacturing by providing more opportunities to American workers and domestic firms. Through a new guidance released on March 31, the U.S. Department of the Treasury said 2023-04-03
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  BTS Jimin ranks second on Billboard's top 200 popular albums chart with 'FACE' SEOUL -- "FACE," a solo album by BTS member Jimin, has become the second-best album on Billboard's top 200 popular albums chart. It is the highest record among Korean language-based solo albums. The album released on March 24 was ranked second on the list of Billboard 200 chart with 164,000 equivalent album units sold in the United States in the week ending on March 30. "One Thing at a Time," an album by American singer Morgan Wallen, topped the chart with 1 2023-04-03
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  Hyundai shipbuilding group's subsidiary wins $183 mln product tanker order from Africa SEOUL -- Hyundai Mipo Dockyard, a shipbuilder affiliated with Hyundai shipbuilding group, has sealed a 240.1 billion won ($183 million) worth shipbuilding order for vessels capable of carrying petrochemical products with an African shipping company. After building vessels in the southern port city of Ulsan, a total of four ships will be delivered to Africa starting in the second half of 2025. Hyundai said in a statement on March 31 that each ordered ship costs about $46.2 million. 2023-03-31
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  Baedal Minjok succeeds turning profit for first time in three years SEOUL -- The operator of the food delivery service Baedal Minjok, Woowa Brothers, has succeeded in turning a profit for the first time in three years, thanks to dramatically increased demand for food delivery orders during the pandemic. According to the Financial Supervisory Service's electronic disclosure system on March 31, Woowa Brothers' consolidated sales in 2022 were 2.9 trillion won ($2.2 billion), and the operating profit was 424.1 billion won. Sales increased by 47 2023-03-31
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  Mareum Design to make foray into Chinese pickup market with electric trucks SEOUL -- Mareum Design, a car design company in South Korea, aims to secure its foothold in the Chinese small-sized pickup truck market through its two electric truck models -- a one-ton class model and a 0.5-ton class model. The vehicles set to be commercialized in China in the first half of 2024 would be manufactured by a Chinese company through a consignment production method. IR3 E-Pickup weighing about 0.5 tons and the one-ton truck called IR5 E-Light were showcased at Seoul M 2023-03-31
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  S. Korea to set safety standards on EV batteries recycled for ESS and portable power banks SEOUL -- South Korea will set new safety standards on discarded electric vehicles that are recycled and reused in the construction of energy storage systems or power banks, which are portable battery packs for outdoor use. The number of discarded batteries is expected to skyrocket in the late 2020s and is to cause serious environmental and safety issues if no preemptive actions are taken. According to the Ministry of Environment, about 31,700 units of electric vehicle (EV) batterie 2023-03-31
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  Boy band ENHYPEN collaborates with Baby Shark creator for child animation film SEOUL -- K-pop boy band ENHYPEN has collaborated with a South Korean educational entertainment company that created famous characters such as Baby Shark, to make a foray into the United States' animation movie market. The seven-member band was recreated into animated characters in the English-dubbed content where group members participated as voice actors. The Pinkfong Company, the creator of Baby Shark, said in a statement that the movie titled "Baby Shark's Big Mo 2023-03-31
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  ​LG Chem breaks ground for plastic recycling and aerogel insulation plant in southwestern port city SEOUL -- In an effort to create a sustainable production cycle for recycled plastic products, LG Chem, the chemical unit of South Korea's LG Group, has broken ground for a 310-billion-won ($230 million) plant in the southwestern port city of Dangjin. The plant will have a super-critical pyrolysis facility to break down plastics to create oil and a production facility for the company's aerogel insulation product. Pyrolysis involves extreme heat and pressure to break down pla 2023-03-30
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  First British export finance expert in Seoul appointed to facilitate trade deals with S. Korean companies SEOUL -- To boost trade relations with South Korea, Britain's export credit agency has appointed an export finance expert who will serve as a middleman between British exporters and South Korean companies. The finance executive will also work closely with Britain's industry ministry to facilitate trade activities in South Korea, which is London's 18th largest export market. According to data released by the British Embassy in Seoul, Britain's total exports to South 2023-03-30