Most Popular
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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Official campaigning kicks off for April 10 elections
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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Hyundai Motor ranks 2nd in US EV sales
Hyundai Motor Group ranked second behind Tesla in terms of electric vehicle sales in the United States in January, a report showed Monday. Citing statistics from S&P Global Mobility, Automotive News said the Korean auto conglomerate’s three brands -- Hyundai Motor, Kia and Genesis -- combined for 8,262 newly registered EVs in the US in January 2024 to account for 9.3 percent of the total market. According to the report, Tesla registered 48,757 EVs to retain the top spot, while traditio
MobilityMarch 25, 2024
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Hyundai Motor, Saudi Arabia join efforts for future mobility ecosystem
Hyundai Motor Group said Monday that it has joined hands with Red Sea Global to implement eco-friendly future mobility to Saudi Arabia’s development project to open luxurious and pro-nature tourism resorts along the west coast of the Middle Eastern country. According to the announcement, the representatives of the Korean automaker and the Saudi Arabian megaproject signed a memorandum of understanding in Riyadh on Sunday. Red Sea Global, which is entirely owned by the Public Investment Fund
MobilityMarch 25, 2024
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Eximbank to form W1tr fund for chips, battery
The Export-Import Bank of Korea, or Eximbank, announced it will form a 1 trillion won ($745 million) fund to support businesses in high-tech strategic industries, especially semiconductors and batteries. The policy lender will put in 150 billion won toward the fund which will close out at 1 trillion won. The fund will be used to provide preferential interest rates and loan limits to businesses related to chips, battery, bio, future mobility and electric engineering. It is the second fund establi
IndustryMarch 25, 2024
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Bank refusal to open account for resident from 'high-risk country' discriminatory: rights commission
A South Korean bank's refusal to open an account for a foreign national resident from a designated "high-risk country" is discriminatory, the country's human rights watchdog agency said Monday. The National Human Rights Commission of Korea's recommendation was made in response to a complaint lodged by the Korean spouse of a bank customer whose application to open an account was rejected on the grounds of their nationality. The bank said in August 2022 that because the re
Social AffairsMarch 25, 2024
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LX chief calls 2024 'turning point'
LX Holdings Chairman Koo Bon-joon said Monday he would enhance the group’s crisis response system in a bid to enhance its responsiveness to business uncertainties at home and globally. “The year 2024 will be an important inflection point as we prepare for the next three years of LX’s leap,” Koo said during this year’s annual shareholders meeting held at the company’s headquarters in Seoul. Koo’s comments come as LX Group spun off from LG Group in 2021
IndustryMarch 25, 2024
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Antitrust watchdog to launch large-scale survey on e-commerce platforms
With the rapid influx of global e-commerce into the domestic market, the Fair Trade Commission is set to launch an extensive market survey starting Tuesday, to examine the evolving landscape and structure of the e-commerce market in Korea. The survey marks the first step in gathering data to produce a policy report slated for release by the end of this year. The report's objective is to proactively identify and analyze fair trade and consumer issues arising from shifts in e-commerce market
IndustryMarch 25, 2024
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IBK to roll out W100b fund for digital tech
The Industrial Bank of Korea on Monday announced the establishment of a strategic investment fund worth 100 billion won ($75 million) to nurture businesses with innovative digital technologies. The fund will be pooled by the policy lender and its affiliate IBK Capital, with each investing 90 billion won and 10 billion won, respectively. As IBK Capital is more experienced in venture funding, it will manage the fund as a general partner, IBK explained. The fund aims to support platform operators w
IndustryMarch 25, 2024
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Ophthalmologist who covered ER to fill staff void found dead
An ophthalmologist in his 40s from Pusan National University Hospital died in his home early Sunday morning, according to the Busan Metropolitan Police Agency on Monday. On Sunday at 4:30 a.m., police officials received a call that the doctor was found unconscious in his home. When emergency medical services reached the doctor’s home, he did not have a pulse nor was he breathing, according to police officials. The doctor was immediately taken to the Inje University Haeundae Paik Hospital n
Social AffairsMarch 25, 2024
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More reality shows exploring divorce are on their way
South Korean broadcasters are rolling out new shows about divorce among real-life couples following a wave of successful reality shows that previously explored the same theme. The Maeil Broadcasting Network said it has decided to regularly broadcast "Decision to Divorce" starting in April following the show's successful pilot season of five episodes that aired from January to February. "Decision to Divorce" features couples going through difficult times in their marri
TelevisionMarch 25, 2024
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65% of Korean firms penalize ChatGPT-crafted resumes
A majority of large companies in South Korea disadvantage applicants who craft their resumes using artificial intelligence services, such as ChatGPT, according to a survey released Sunday. The Labor Ministry and the Korea Employment Information Service unveiled a report on employment trends in the second half of 2023, which was based on a survey of human resource managers at the nation’s top 500 companies by sales. The survey was conducted from Nov. 20 to Dec. 22 last year, with 315 out of
IndustryMarch 25, 2024
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[Photo News] Farewell to the Queen
Asiana Airlines’ Boeing 747-400, the last Boeing 747 aircraft in South Korea, is honored with a grand water salute at Taiwan Taoyuan International Airport on Monday to mark its final flight. Known as the “Queen of the Skies,” the iconic aircraft was first introduced in Korea in 1999. The Asiana aircraft has flown nearly 97,000 hours, completing over 18,000 flights and covering 88 million kilometers. (Asiana Airlines)
IndustryMarch 25, 2024
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EcoPro invests $11m to secure stake in Indonesian nickel smelter
EcoPro, a South Korean battery materials holding company, said Monday that it had invested $11 million for a 9 percent share in Green Eco Nickel, an Indonesian nickel smelter operated by Chinese battery materials firm GEM, to expand the supply of nickel, a crucial raw material for lithium-ion battery production. The Green Eco Nickel smelter, situated on Sulawesi Island in Indonesia, boasts annual production of approximately 20,000 tons of nickel. The investment will allow EcoPro to gain addition
IndustryMarch 25, 2024
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Hana Bank, ICE Digital Trade team up for paperless trading
Hana Bank announced Monday that it has inked a memorandum of understanding with global digital solutions provider ICE Digital Trade to innovate trading procedures, especially digitalizing trade-related documents and communications. ICE Digital Trade, part of New York-listed Intercontinental Exchange, connects over 56 global banks and 65,000 member companies through its digital trade transaction solution, called DSUA or Databridge Services & Users Agreement. This partnership aims to streamlin
IndustryMarch 25, 2024
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[Photo News] New electric Mini in Seoul
Mini Korea will hold an exhibition to shed light on the past, present and future of the brand in Seoul from Friday to April 21, the premium small car brand under BMW Group said Monday. Showcasing the new all-electric Mini Cooper and new all-electric Mini Countryman, the "Mini Heritage and Beyond" exhibition will be held at the K Museum of Contemporary Art in Gangnam-gu. The new Mini EVs are to hit the local market later this year. (BMW Group Korea)
MobilityMarch 25, 2024
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Plastic surgery remains top choice for medical tourists
Plastic surgery remains the top choice for medical tourists visiting Korea, with dermatology and dentistry gaining popularity recently, according to data from Creatrip, a Korean tourism platform, Monday. The data is derived from Creatrip’s market analysis of its medical tourism offerings in January and February this year. Plastic surgery emerged as the leading preference among inbound tourists, with reservation rates surging 220 percent from the previous year, accompanied by a 270 percent
IndustryMarch 25, 2024
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[Bills in Focus] Infrastructure building in new cities, retail industry deregulation
Proposed Bill: Partial Amendment to the Special Act on Public Housing Proposed by Rep. Seo Il-jun (People Power Party) ● The lack of major transportation infrastructure in new cities is inconvenient for residents. This amendment modifies the timeframe for formulating improvements in metropolitan transport in large-scale housing supply projects from "before the approval of the housing zone development plan" to "within one year after the designation of a housing zone." Propos
PoliticsMarch 25, 2024
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Cambodia calls for cultural diplomacy on National Culture Day
The Cambodian Embassy called for cultural diplomacy to enhance cooperation, hosting its National Culture Day on Sunday. Marked each year on March 3, Cambodia’s National Culture Day showcases the resilience and richness of Cambodian heritage. Delivering remarks at the event, Cambodian Ambassador Chring Botumrangsay paid homage to generations who have preserved and cherished Cambodian traditions, passing them down through the ages with love and reverence. “In a world shaped by rapid ch
Foreign AffairsMarch 25, 2024
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Seoul's bus union threatens strike over wage dispute
The union of city bus drivers in Seoul said Monday its leaders agreed to start a general strike by all members later this week after failing to reach a deal on wage hikes with the Seoul city government. The Seoul Bus Labor Union, which has about 18,000 members at 65 companies, said heads of its chapters decided to launch the walkout at 4 a.m. on Thursday. The union has reportedly demanded wage increases, revision of the salary system and the abolition of wage discrimination for contract workers
Social AffairsMarch 25, 2024
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Leader of doctors' group questioned again over trainee doctors' walkout
A leader of the Korean Medical Association, the country's biggest doctors' group, appeared before police Monday for another round of questioning over suspicions of instigating a mass walkout by trainee doctors. Joo Soo-ho, the chief KMA spokesperson, arrived at the Seoul Metropolitan Police Agency in Seoul to undergo questioning, his third police questioning connected to the walkout. He is one of five former and current KMA leaders against whom the government has filed a police complai
Social AffairsMarch 25, 2024
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Fescaro's 'defense in depth' system allows multi-layered vehicle cybersecurity strategy
With the concept of software-defined vehicles growing more prominent in the automobile industry, so is demand for automative cybersecurity. Fescaro, a leading cybersecurity specialist, has what it calls a "defense-in-depth" system that has a multi-layered strategy to provide security for the security of the car's system. The first layer cuts off the primary risks by filtering the inbound communications through a security gateway. The secondary layer applies security solutions to t
IndustryMarch 25, 2024