South Korean entrepreneur Do Kwon was a rising star of the global digital asset market when his company Terraform Labs launched the cryptocurrencies UST and luna with the goal of achieving a decentralized economy three years ago. His stardom reached its peak as the price of luna skyrocketed to over $119 early last month, becoming the first Korean-developed cryptocurrency to crack the top 10 list of cryptocurrencies with the highest market capitalization in the world. Some investors and i

Market May 16, 2022

The global cryptocurrency market has been shaken up by the freefalling prices of Korean-made cryptocurrency terraUSD, also known as UST, and its sister token luna, raising concerns that it may lead to the crypto market’s version of the Lehman Brothers collapse. According to crypto market analysis website CoinMarketCap, the prices of terraUSD and luna recorded 857 won ($0.66) and 443 won as of 2 p.m. on Thursday, down 14 percent and 96 percent from 24 hours ago, respectively. Terraform

Market May 12, 2022

South Korean researchers have developed a nasal spray that can kill viruses and bacteria including COVID-19, the culprit of the unprecedented pandemic, the Korea Institute of Science and Technology said Thursday. Labeled the “invisible mask” for its capacity to prevent virus infection as if one was wearing a mask, the nasal spray can remove harmful substances from the outside and protect the mucus membrane, according to the KIST. In order for the sprayed liquid to take effect, it

Technology May 12, 2022

South Korean researchers have developed a diagnosis platform using blood testing to detect early-stage Alzheimer’s disease, the Korea Research Institute of Bioscience and Biotechnology said Wednesday. To date, there is no cure for Alzheimer’s disease, a type of senile dementia leading to memory loss and cognitive impairment. The KRIBB said the key to treatment is to slow the progression of the disease through accurate early diagnosis. The researchers confirmed that the level of m

Technology May 11, 2022

Lee Jong-ho, the new science and ICT minister, stressed the importance of securing core technologies of semiconductor, artificial intelligence, space and bio in his inaugural speech on Wednesday. “In an era where technology is sovereignty, the public and private sectors must consolidate their capabilities to strengthen strategic investment and all-around support and fortify the more practical innovation ecosystem of industry, academia, and research. We need to pursue our own super-gap and

Technology May 11, 2022

South Korea’s single-person households proportionally spent more on alcohol than households with two or more people last year, a report showed Sunday. According to the Korea Rural Economic Institute’s report that analyzed the Statistics Korea’s data from 2021, single-person households spent 10.6 percent of their processed food spending on buying alcoholic beverages, whereas households with two or more people allocated 7.3 percent. The report showed that younger people living

Consumer May 8, 2022

South Korean actress Kang Soo-youn has been taken to hospital with cardiac arrest, according to local reports on Thursday. Citing the police and emergency authorities, local reports said she was found with cardiac arrest at around 5 p.m. in Gangnam and given cardiopulmonary resuscitation while being taken to a nearby hospital. Born in 1966, Kang became the first Korean actor to receive an award at a major international film festival as she was honored with the best actress award at the 1987 V

Film May 5, 2022

South Korea’s retail giant Lotte Group has registered the trademark of “Lotte Biologics” with the Korean Intellectual Property Office, signaling the conglomerate’s official enter the bio industry. According to the KIPO, Lotte Holdings applied for Lotte Biologics’ patent last week with business areas including customized manufacturing of biopharmaceuticals, drug processing and medical diagnostic devices for virus testing. “Registering the trademark of Lotte

Consumer May 5, 2022

Cha Biotech’s US subsidiary Matica Biotechnology has opened a new cell and gene therapy production facility to boost its contract development and manufacturing organization business on the global stage, officials said Wednesday. With a 500-liter bioreactor, the new CDMO facility, based in College Station, Texas, will produce various types of viral vectors that are the essential basis of cell and gene therapy, according to Cha Biotech. The company said that Matica Biotechnology is curre

Technology May 4, 2022

*진행자: 간형우, Brolley Genster 1. People still wear masks despite end of outdoor mask mandate 기사 요약: 실외 착용 규정 해제 이후에도 여전히 마스크 쓰고 다니는 사람들 [1] People seemed reluctant to take off their masks, although the country’s outdoor mask mandate was lifted on Monday. For various reasons, it was difficult to find people not wearing masks than those wearing them. *reluctant: 주저하는, 꺼리는 *mandate: 명령, 의무 *various: 다양한, 여러 가지의 [2] “It is rather inconvenient to take off a face mask outside and put

Podcast May 4, 2022

South Korean scientists have developed the world’s first photothermal-effect-based high efficiency particulate air filter -- also known as HEPA filter -- that can take out 99.9 percent of influenza and COVID-19 viruses, the Korea Institute of Energy Research said Tuesday. The photothermal effect, which refers to the mechanism of how a substance absorbs light energy and turns it into heat energy, is used in various areas such as drug delivery, cell death, sensor and solar battery. The re

Technology May 3, 2022

South Korean game maker Nexon looks to expand its position in the global market with a series of new titles set for release this year, the company said Wednesday. The game maker is focusing on developing the console versions of the new titles -- DNF Duel, KartRider: Drift and Project Magnum -- as a core pillar to target more players across the world. DNF Duel, which is scheduled to be available from June 28, is a fighting game with characters from Nexon’s signature franchise Dungeon Fi

Market April 27, 2022

McDonald’s Korea logged a combined record high in sales of 1 trillion won ($801 million) from its directly managed stores and franchisees last year, the largest annual figure since its first store opened in the country in 1988, the global fast-food giant said Tuesday. The directly managed stores that take up about 70 percent of the total number of McDonald’s in the country posted 867.9 billion won in sales, up 9.7 percent on year, according to the company’s regulatory report.

Consumer April 26, 2022

Samyang Foods attracted 40,000 visitors to the promotional booth of its signature spicy noodle dish Buldak, over four days on the sidelines of BTS concerts in Las Vegas earlier this month, the company said Tuesday. Samyang Foods was the main sponsor of the K-pop superstars’ concerts in the US as it commemorated the 10th anniversary of Buldak.

Culture April 26, 2022

President-elect Yoon Suk-yeol on Monday pledged to provide the utmost support for Korean companies developing vaccines and treatment, highlighting that vaccine development is crucial for securing the nation’s economic security. “The essence of the country’s growth lies here,” Yoon said during his visit to SK Bioscience’s headquarters in Seongnam, Gyeonggi Province, adding that South Korea’s economy and security depend on developing drugs. The President-elec

Technology April 25, 2022