Latest news
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KT's financial services wing partners with Mongolia's central bank to establish payment linkage system
SEOUL -- BC Card, the financial services wing of South Korea's major telecom company KT, will work with the central bank of Mongolia to establish a payment linkage system between South Korea and Mongolia. Mongolians can use their national payment system using automatic teller machines in South Korea. According to data released by South Korea’s foreign ministry, 39,746 Mongolians were living in South Korea as of June 2022. A total of 113,864 Mongolian tourists visited Sout
January 30, 2023 -
Online secondhand market Joonggonara and 7-Eleven officially launches safe offline trading service
SEOUL -- Joongonara, South Korea's largest online secondhand market platform operated by Eugene Asset Management, and convenience store franchise 7-Eleven have kicked its safe offline secondhand trading service into full gear. The service was tested in the southern Seoul district of Gangnam earlier this month. According to the Korea Internet & Security Agency, South Korea's internet watchdog, the country has an online secondhand trading market standing at about 24 trill
January 30, 2023 -
Eight overseas Korean restaurants designated as outstanding eateries for popularizing Korean food
SEOUL -- The Ministry of Agriculture, Food and Rural Affairs designated outstanding Korean restaurants in foreign countries based on 21 requirements including food quality, hygiene, and contribution to the popularization of Korean dishes. The ministry provides recognition awards for selected restaurants as well as financial support. On January 26, the ministry designated eight restaurants with the state-run Korean Food Promotion Institute. Jeongsik Jeongsik is a New York-based Kor
January 27, 2023 -
National pension fund to be depleted in 2055, two year earlier than previously predicted
SEOUL -- South Korea’s national pension fund for salaried workers is expected to be depleted completely in 2055, 14 years after it begins to record a deficit, according to a committee evaluating the financial soundness of the fund. The finding said that the depletion will come two years earlier than the committee’s previous calculation conducted five years ago, if the current pension scheme remains unchanged. The panel, affiliated with the Ministry of Health and W
January 27, 2023 -
LS Electric clinches $39.7 mln order to build railway signaling system in Taiwan
SEOUL -- LS Electric, a power solution provider affiliated with South Korea's LS Group, has clinched an order worth $39.7 million from Taiwan's railway operator to build a railway signaling system that provides various operation conditions for moving trains. Through the establishment of the safety system, the company aims to secure its foothold in the Southeast Asian market. The railway signaling system is crucial for locomotive engineers as it ensures that there is enoug
January 27, 2023 -
S. Korea to invest $215 mln into five-year development project for AI technologies for everyday environments
SEOUL -- South Korea will invest some 265 billion won ($215 million) for a five-year project that aims to develop artificial intelligence technologies that can be utilized by people in their everyday environments. AI used in various sectors including the administrative, legislative, judicial, and public sectors will eventually help boost the country's AI technology capability. Prime Minister Han Duck-soo held the second National Data Policy Committee meeting on January 25 and r
January 27, 2023 -
South Korea's kimchi imports hit record high of $169.4 million last year
SEOUL -- South Korea’s imports of kimchi, a traditional Korean side dish made of fermented cabbage, hit a record high of $169.4 million last year, according to the Korea Customs Service (KCS). The sum marked a 20.4 percent increase from 2021. The surge of kimchi imports was attributed to soaring inflation which made consumers prefer cheaper products from China. Locally made kimchi products became expensive due to high prices of cabbage and other ingredients. The increase
January 27, 2023 -
Researchers develop AI technology capable of predicting cardiovascular events for stroke patients
SEOUL -- Researchers have developed an artificial intelligence-based solution capable of predicting the risk and date of cardiovascular events, which can cause serious damage to the heart muscle, in patients who previously had a stroke. Cardiovascular events, which result in physical disability and even death, are known to take place after suffering from a severe brain attack. A stroke is a severe brain disease that happens when the blood vessels supplying blood to the brain are bl
January 27, 2023 -
GS Retail partners with laundry service franchise to make foray into self-service laundry market
SEOUL -- GS Retail, the operator of South Korea's convenience store franchise GS25, partnered with Cleantopia, a domestic laundry service franchise operator, to make a foray into the country's unmanned self-service laundry market. This is the first time for a major South Korean conglomerate to enter the laundry market where the majority of businesses are operated by private owners. According to the state statistical information service, South Korea's laundry market whic
January 27, 2023 -
South Korea suffers trade deficit of $10.26 billion in the first 20 days of this month
SEOUL -- South Korea posted a trade deficit of $10.26 billion in the first 20 days of this month, according to the Korea Customs Service (KCS). The sum is equivalent to 21.6 percent of last year’s trade shortfall of $47.23 billion. The deficit was attributed to a sizable fall in exports of key items such as semiconductors and petrochemical products. At the same time, imports rose considerably as the country brought in a greater amount of oil and gas from overseas. The KCS
January 27, 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