Latest news
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South Korea faces vicious cycle of snowballing trade deficit, falling won, high inflation
SEOUL -- The South Korea economy is likely to slip into a vicious cycle of a snowballing trade deficit, a weakening Korean won against the U.S. dollar, and soaring inflation. According to the Korea Customs Service, the country suffered a trade deficit of $18.63 billion (24.56 trillion won) so far this year until February 20. The sum was 2.7 times the $6.98 billion shortfall the country posted a year before. In the first 20 days of February, the deficit was estimated at $5.98
February 27, 2023 -
BTS' main dancer J-Hope to roll out solo single 'on the street' in March
SEOUL -- BTS member J-Hope will release his solo single before starting his mandatory military service in South Korea. The 29-year-old composed the song titled "on the street" which is a place where he first started to dream of becoming an artist. "The title 'on the street' refers to j-hope's roots—street dance—from which his dream to become an artist began, and the path the artist and fans will continue to walk together," said Big Hit th
February 27, 2023 -
Kakao's AI development wing to kick-start $7.6 mln fund to commercialize hyperscale AI
SEOUL -- Kakao Brain, the artificial intelligence development wing will kick-start a fund worth up to 10 billion won ($7.6 million) during the first half of 2023 to commercialize the company's AI-based image generation application. Hyperscale AI refers to AI technologies and techniques at a massive scale to solve complex problems and process an enormous amount of data. Hyperscale AI is often used in natural language processing and AI-based image generation. AI image generat
February 27, 2023 -
[Weekly Stock Market] Overall foreign buying trend is likely to continue
SEOUL -- The benchmark Korea Stock Price Index (KOSPI) ended at 2,423.61 last week, down 1.13 percent from a week before, as the index was predominantly pressured by foreign selling. For the first time this year, on a weekly basi
February 26, 2023 -
Malaysia signs $920 million deal to buy South Korean light fighter jets
SEOUL -- South Korean aircraft maker Korea Aerospace Industries (KAI) has secured a deal worth $920 million (1.2 trillion won) to deliver 18 light fighter jets called "FA-50" to Malaysia starting in 2026. KAI said in a press release February 24 that FA-50 was selected as the preferred bidder by Malaysia's defense ministry among six light fighters that include Russia's MIG-35, Turkey's Hurizet and India's Tejas. Malaysia has become the sixth Southeast Asian
February 24, 2023 -
KEPCO suffers record operating loss of $25 billion in 2022 due to soaring fuel prices
SEOUL -- The state-run Korea Electric Power Corp. (KEPCO) said February 24 that it suffered a record operating loss of 32.63 trillion won ($25.02 billion) last year, prompted by soaring fuel prices and a slow pace of electricity rate hikes. The loss was more than five times the company's 2021 operating loss of 5.84 trillion won. In the last three months of last year alone, KEPCO incurred a 10.76 trillion won loss, hitting an all-time high quarterly figure. KEPCO said that i
February 24, 2023 -
S. Korea launches working group to discuss intellectual property issues regarding AI-generated images
SEOUL -- South Korea has launched a working group composed of experts from various sectors to discuss issues regarding intellectual property rights over artificial intelligence-generated images. Thanks to the development of AI technologies, anyone can generate artificial images to match their preferences. However, generated images are based on datasets of pictures and drawings created by human artists. AI-generated image services became popular during the last few years as they off
February 24, 2023 -
Science research institute UNIST to create vegetable garden on campus
SEOUL -- A vegetable garden with various plants, a pond, and plant-based food items will be created at a science and technology university in the southeastern industrial city of Ulsan. The state institute, which earlier created an experimental living lab using energy from human excrement, aims to establish infrastructure for a carbon-neutral campus. The Ulsan National Institute of Science and Technology (UNIST) said in a statement that the institute has partnered with a local bank,
February 24, 2023 -
Researchers find operating principle of key protein in RNA generation process
SEOUL -- For the first time in the world, a team of researchers from South Korea's Institute for Basic Science has found the key operating principle of Dicer, also known as endoribonuclease Dicer, a protein crucial to the generation of micro RNA and RNA therapeutic agents. The findings could help researchers analyze the cause of various cancers and develop RNA-based drugs. Dicer is an enzyme that cleaves double-stranded RNA into short double-stranded RNA fragments called mi
February 24, 2023 -
Two bar associations fined $7.7 million each for membership ban on legal service platform
SEOUL -- South Korea's two bar associations were slapped with a fine of 10 billion won ($7.7 million) each for banning their members from joining LawTalk, an online platform that connects users and lawyers. On February 23, the Korea Fair Trade Commission (KFTC) decided to impose the fine on the Korean Bar Association (KBA) and the Seoul Bar Association (SBA), stating that their ban has hindered "free and fair" competition in the legal market. The antitrust regulat
February 24, 2023
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PHOTOS: Festival features India's traditional dance in Seoul
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PHOTOS: UAE heritage showcased on Nami Island
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Octogenarian becomes oldest contestant at beauty pageant in Seoul
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Krafton to showcase new games at G-Star
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Golfer Pak Se-ri wins Van Fleet Award for strengthening U.S.-Korea relations
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Naver Map offers multilingual translation for visitor reviews
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Indian cultural festival kicks off with traditional dance performance
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Hanwha Q Cells sells solar project in Washington state
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School bus fire claims 23 lives in Thailand
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Google to invest $1 billion in Thailand data center, cloud AI Infrastructure