Latest news
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Foreigners buy 6.5 trillion won worth of local stocks in January, expecting economic recovery
SEOUL -- Foreign investors rushed to buy South Korean stocks worth 6.48 trillion won ($5.3 billion) on a net basis in January on the back of the weak U.S. dollar and growing expectations of a global economic recovery, according to data released by the Korea Exchange (KRX) on February 2. The monthly net purchase by foreigners was the largest since they bought 6.95 trillion won in January 2012. Their net buying reached an all-time high of 8.46 trillion won in September 2013. Fo
February 2, 2023 -
LGES to supply battery modules to commercial EV battery pack maker Freudenberg
SEOUL -- LG Energy Solution, the battery-making wing of South Korea's LG Group, signed a supply deal with a U.S.-based commercial electric vehicle battery pack maker called "Freudenberg e-Power Systems" to supply battery modules. Battery modules consist of cells, which are basic units of batteries. Battery cells are put together in a frame to form a module that can protect cells from external shock and heat. When modules are bundled up, they become battery packs, the
February 2, 2023 -
SK C&C forges partnership with Microsoft targeting global AI-based healthcare solution market
SEOUL -- SK C&C, the software solution-making wing of South Korea's SK Group, partnered with Microsoft's branch in Seoul to establish a bridgehead into the global artificial intelligence-based digital healthcare solution market. SK C&C's cerebral hemorrhage-detecting solution will become available through Microsoft's cloud healthcare platform. AI combined with big data is found to be extremely effective in image-based medical diagnosis as the robots can anal
February 2, 2023 -
Consumer prices jump 5.2 percent in January, driven by higher utility charges
SEOUL -- South Korea's consumer prices jumped 5.2 percent in January from a year earlier, remaining at the 5 percent level for the nineth consecutive month, according to data released by Statistics Korea on February 2. The statistical office said inflationary pressure increased due to rising public utility charges which surged 28.3 percent year-on-year last month, marking the biggest increase since 2010. The upsurge was driven by a hike in the rates of electricity and gas three
February 2, 2023 -
Seoul partners with state research institute to prepare for disastrous situations caused by EMP
SEOUL -- To prepare for disastrous urban situations caused by electromagnetic pulse wave blasts, Seoul City and the National Radio Research Agency have forged a partnership to co-develop countermeasures against radio frequency attacks that could cause communication blackouts and malfunctions of electronic devices. Electromagnetic pulse (EMP) waves can be created by natural phenomena such as solar geomagnetic disturbances or by manmade devices such as an EMP bomb or EMP generator. E
February 2, 2023 -
Stray Kids becomes first K-pop band to headline music festival in France through Lollapalooza
SEOUL -- Boy band Stray Kids became the first K-pop group to interact with global fans in France through Lollapalooza, a popular global music event, as its headliner. The eight-member band will take part in the global music festival along with American rapper Kendrick Lamar and Rosalia, a famous singer and songwriter from Spain. According to JYP Entertainment, the band's agency, Stray Kids will perform at Lollapalooza Paris on July 21. The headliner role is usually given to the
February 2, 2023 -
South Korea hit by record trade deficit due to steep fall in semiconductor exports
SEOUL -- South Korea posted a record-high monthly trade deficit of $12.6 trillion in January due to a steep fall in exports of the country’s key items such as semiconductors, display panels, and steel and petrochemical products, the Ministry of Trade, Industry and Energy said February 1. More seriously, the country suffered the trade shortfall for the 11th consecutive month. Such a long period of the deficit was unheard-of since Korea witnessed a deficit for 30 months till
February 1, 2023 -
Seoul to monitor fire hydrants using internet of things-based management system
SEOUL -- Seoul will demonstrate an internet of things-based inspection service to monitor fire hydrants in urban areas. The smart management solution will check the condition of fire hydrants instead of having human workers check facilities. Human inspectors can remotely detect abnormalities using the solution that enables local fire stations to monitor fire hydrants. Government data showed that the capital city had 59,727 fire hydrants as of 2021. Jongno, an office district locate
February 1, 2023 -
S. Korea-Philippines economic forum holds first meeting to discuss economic effect of carbon neutrality
SEOUL -- The forum for the energy development cooperation of South Korea and the Philippines held its first regular committee meeting and discussed the economic effect of carbon neutrality supported by nuclear power plant-friendly policies. The forum was established in September 2022, but meetings were postponed due to a coronavirus pandemic. KPEDCF was established to accelerate the interaction between Seoul and Manila's energy specialists and stimulate the development of nucle
February 1, 2023 -
Hanwha's life insurance wing adopts optical character recognition solution to handle multiple documents
SEOUL -- Hanwha Life Insurance, one of the major life insurance companies in South Korea, adopted optical character recognition solution capable of extracting necessary data from complicated insurance claim documents such as medical expense receipts. The solution created by domestic artificial intelligence startup Upstage would help busy workers as it can quickly process complex documentation tasks with one click. Optical character recognition (OCR) is used to convert images of pri
February 1, 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