SK hynix Q2 earnings soar to record high on AI chip boom

SK hynix, the world’s second-largest memory chip maker by revenue, said Thursday it logged all-time-high sales of 16.4 trillion won ($11.8 billion) in the April-June period this year, riding on the robust demand for artificial intelligence chips. Reporting the second quarter's earnings, the company said it will supply the cutting-edge 12-layer HBM3E chips to customers before the end of the year, keeping its dominance in the burgeoning AI chip market. The operating profit posted 5.46 trilli

IndustryJuly 25, 2024

North Korean trash balloon falls on Seoul presidential office

At least one North Korean balloon carrying trash landed on the grounds shared by the South Korean presidential office and the National Defense Ministry in Yongsan, central Seoul, on Wednesday morning. South Korea’s Presidential Security Service said that some trash dropped by the North Korean balloon was identified on the grounds of the Yongsan presidential office and the adjacent defense ministry. The balloon contained mostly scraps of paper and plastic, according to the South Korean mili

PoliticsJuly 24, 2024

What are the charges faced by Kakao founder?

The founder of South Korean tech giant Kakao Corp. was detained Tuesday on charges of stock price manipulation related to the firm's takeover of K-pop powerhouse SM Entertainment last year, prosecutors said. The Seoul Southern District Court granted the prosecution’s request for a pretrial detention warrant for Kim Beom-su, also known as Brian Kim, on charges of violating the Financial Investment Services and Capital Markets Act, citing concerns about evidence destruction and flight r

Social AffairsJuly 23, 2024

Kamala Harris, trailblazer eying America's last glass ceiling

WASHINGTON (AFP) - For years Kamala Harris faced criticism that she was not up to the job of being a heartbeat away from the US presidency. Now, she finds herself feted by Democrats as their best hope to stop Donald Trump's comeback. Despite blazing a trail as the first woman, Black and South Asian vice president in the nation's history, the 59-year-old Democrat long struggled with approval ratings as bad or worse than President Joe Biden's. The last 12 months, however, have revea

Foreign AffairsJuly 22, 2024

[AtoZ into Korean mind] How to say 'no'

After a second date, Lee Tae-hyung, 26, wanted to ask the woman out again. He sent her a KakaoTalk message saying, “Do you have time this weekend?” and the reply he received was, “I don't think I can make time. I have plans this weekend.” “The message made me wonder. Is she politely saying, ‘No, I don’t want to go on another date with you,’ or does this mean that I can ask her again next week?” Lee said. Lee asked his friends and fou

Hashtag KoreaJuly 21, 2024

Parent threatens teacher's daughter, accuses teacher of child abuse

The parent of an elementary school student recently filed a child abuse claim against her child's former teacher, a Seoul teachers' union said Thursday, after sending a threatening letter to the teacher regarding the teacher's daughter. The parent in question filed the complaint over alleged child abuse Wednesday, two days after being questioned by police for the threat letter sent last year, according to the Seoul branch of the Korean Federation of Teachers Unions. She claimed

NewsmakerJuly 20, 2024

Major US carriers including American, UAL ground flights citing comms issue

Major US carriers including American Airlines, Delta Airlines and United Airlines issued ground stops on Friday morning citing communication issues, less than an hour after Microsoft resolved its cloud services outage that impacted several low-cost carriers. It was not immediately clear whether the call to keep flights from taking off were related to the earlier Microsoft cloud outage. Apart from American and Delta, UAL and Allegiant Air too grounded flights. The FAA did not immediately respond

Foreign AffairsJuly 19, 2024

Political blame game intensifies in Seoul over Sue Mi Terry row

The recent indictment in the US of Sue Mi Terry, a North Korea expert who formerly worked for the US Central Intelligence Agency, is feeding the political blame game between the ruling bloc and opposition here over which administration is responsible for what is perceived as South Korea's spying blunder. A South Korean liberal lawmaker who formerly served as the chief of South Korea's National Intelligence Service slammed President Yoon Suk Yeol's office for "creating an inte

PoliticsJuly 19, 2024

Over 40 North Korean trash balloons detected overnight: JCS

Over 40 balloons carrying trash flew across the border from the North and fell in northern Gyeonggi Province overnight, South Korea's Joint Chiefs of Staff announced Friday. The JCS detected at least 200 balloons flying from North Korea from 5 p.m. Thursday until 5 a.m. Friday, and one-fifth of them dropped in South Korea. Residents of Seoul received an alert at around 5:50 p.m. Thursday that a North Korean balloon had entered South Korea's territorial airspace. The balloons mostly carried paper

PoliticsJuly 19, 2024

S. Korea brings largest-ever 'Korea House' to Paris Olympics

South Korea will operate its largest-ever "Korea House" during the 2024 Paris Summer Olympics to promote its culture and serve as a support base for its athletes, the culture ministry said Friday. Co-hosted by the Ministry of Culture, Sports and Tourism and the Korean Sports and Olympic Committee, the facility will run from July 25 to Aug. 11 at Maison de la Chimie (House of Chemistry), an international conference center in the heart of Paris. The Korea House has been a tradition since

Social AffairsJuly 19, 2024

SK Innovation shuffles affiliates to cope with EV slump, lead future energy sector

SK Innovation on Thursday vowed to create synergy and lead the global energy sector through the realignment of its affiliates by merging itself with SK E&S and amalgamating battery-maker SK On with SK Trading International and SK Enterm. “We decided the merger with SK E&S to lay the groundwork for the growth of future energy businesses and push for a bold, structural innovation,” said Park Sang-kyu, CEO of SK Innovation, in a press conference at the SK Seorin Building in Seou

CompaniesJuly 18, 2024

Prosecutors seek arrest warrant for Kakao founder over suspected stock manipulation

Prosecutors on Wednesday requested an arrest warrant for Kim Beom-su, the founder of Kakao Corp., on charges of involvement in suspected illegal stock manipulation during the tech giant’s acquisition of K-pop powerhouse SM Entertainment last year. The Seoul Southern District Prosecutors Office filed a warrant for Kim over allegations of violating the Financial Investment Services and Capital Markets Act. The move comes a week after prosecutors grilled Kim for about five hours on suspicions

Social AffairsJuly 17, 2024

K-pop boy bands losing allure as career choice

Becoming a K-pop star was once among the top dreams for boys and girls in Korea. While many girls still aspire to this dream, however, boys are increasingly turning away from the aspiration, as they become more aware of the hard reality of becoming a K-pop star. Trainees often undergo three to five years of rigorous training and must compete fiercely for a slim chance to debut. Even if they achieve stardom, they often lose their personal lives in the process. K-pop agencies report difficulties i

K-popJuly 16, 2024

First lady likely to refuse to testify before Assembly committee

South Korea's first lady Kim Keon Hee is likely to refuse to testify before the opposition-controlled Legislation and Judiciary Committee of the National Assembly as they plan to hold a parliamentary hearing to seek an impeachment motion against President Yoon Suk Yeol. This will be in line with the presidential office's move to decline to receive the committee's written request urging five presidential secretaries to attend the first round of hearings scheduled on Friday. A senio

PoliticsJuly 15, 2024

[Weekender] Niche cinemas: Small yet rich in content

Amid the battle between streaming services and megaplexes for film dominance, a passionate few long for a cinematic experience only niche theaters can provide: curated gems on the big screen. For casual viewers who prefer monthly subscriptions to streaming services and occasional blockbuster splurges, the appeal of these smaller-scale theaters may not be as compelling. However, beyond the sheer size of the screen, these venues' offerings of films from all eras, along with other cinema-rel

Hashtag KoreaJuly 13, 2024

Minimun wage for 2025 exceeds 10,000 won threshold for first time

The minimum wage for 2025 has been set at 10,030 won ($7.30) per hour, surpassing the 10,000 won mark for the first time since the system was introduced in 1988 and eliciting mixed reactions from business owners and employees. This decision, reached during the Minimum Wage Commission’s 11th plenary meeting Friday, represents a 1.7 percent increase from the current 9,860 won per hour. The new rate translates to a monthly wage of approximately 2.1 million won, based on a standard 40-hour wor

Social AffairsJuly 12, 2024

[Exclusive] CJ ENM's 'KCON Saudi Arabia' canceled this year: source

KCON, the globally renowned K-pop music festival organized by CJ ENM, will not be held in Saudi Arabia this year, according to an industry insider. Earlier this year, CJ ENM announced its 2024 KCON schedule that included events in five locations: Hong Kong, Japan, Los Angeles, Europe and Saudi Arabia. While specific dates were released for the first three locations, the dates for Europe and Saudi Arabia were left unspecified. In June, CJ ENM announced that the European KCON would take place in F

CultureJuly 11, 2024

K-pop fans uneasy about return of main culprits in ‘Burning Sun’ scandal

The recent sights of former K-pop singers who were central figures in the “Burning Sun” scandal -- Jung Joon-young, Seungri and Choi Jong-hoon -- are raising questions about the image of K-pop and where to draw the line between celebrities' public and private lives. The roots of the scandal began in 2016 with Jung's illegal filming and distribution of sex videos. Investigations into an assault at the Burning Sun nightclub owned by Seungri in 2019 revealed a group chat in wh

K-popJuly 10, 2024

Europe's new Ariane 6 rocket blasts off for the first time

KOUROU, French Guiana (AFP) -- Europe's new Ariane 6 rocket successfully blasted off for the first time on Tuesday, releasing satellites into orbit and restoring the continent's independent access to space. European space efforts have suffered a series of blows, including four years of delays to Ariane 6, that have robbed the continent of its own way to launch missions into space for the past year. But with the successful inaugural flight of Europe's most powerful rocket yet, Euro

World NewsJuly 10, 2024

Kakao's legal risk intensifies over alleged stock manipulation

Kim Beom-su, the founder of tech giant Kakao Corp., the operator of South Korea's top mobile messenger, was summoned by prosecutors Tuesday to address allegations of stock price manipulation related to Kakao's acquisition of K-pop megacorp SM Entertainment last year. The Financial Investigation Division 2 of the Seoul Southern District Prosecutors' Office called in Kim earlier in the day and said it was investigating him for alleged violations of the Financial Investment Services

IndustryJuly 9, 2024