GS25 partners with Seoul City to stimulate elderly employment

SEOUL -- GS Retail, the operator of the popular convenience store chain GS25, has forged a partnership with Seoul City to boost the employment rate of individuals aged 60 and above. The convenience store giant plans to employ up to one thousand seniors as delivery personnel for on-foot short-distance grocery deliveries. In August 2020, GS25 teamed up with Yogiyo, a leading food delivery service app operator, to launch the on-foot delivery service. This initiative was introduced to

March 19, 2024

Samsung's operating profit to exceed $3.7 bln in 1Q 2024: market analysis

SEOUL -- A market analyst firm predicts that Samsung Electronics' operating profit for the first quarter of 2024 is likely to exceed five trillion won ($3.7 billion), signaling a positive recovery trend in both the semiconductor and smartphone businesses. According to FN Guide, a securities information company, Samsung's first-quarter operating profit consensus (an average estimate based on data released by three securities firms over three months) has once again increased

March 19, 2024

Seoul to commemorate 10th anniversary of Dongdaemun Design Plaza

SEOUL -- Seoul City will commemorate the birthday of its landmark "Dongdaemun Design Plaza" through a four-day festival scheduled to kick off on March 21. The visitor-centric event will encourage participation from visitors through various types of attractions such as elaborate photo zones and special tour programs that will guide visitors to hidden areas normally closed to the public. Dongdaemun Design Plaza (DDP) is one of the capital city's landmarks that is locat

March 18, 2024

S. Korean middle market enterprise federation chief calls for more high-quality jobs to overcome low fertility rate

SEOUL -- Choi Jin-sik, the chairman of the Federation of Middle Market Enterprises of Korea (FOMEK), has urged South Korean companies to offer more high-quality jobs to tackle the current low fertility rate crisis. During a meeting with the vice chairman of the Presidential Committee of Aging Society and Population Policy (PCASPP), Choi pointed out that increasing such jobs, with higher incomes, could mitigate the crisis. According to data released by South Korea's statistics

March 18, 2024

Son Heung-min to leave football after retirement

SEOUL --South Korean football star Son Heung-min has revealed a plan to step away from the football world after retiring. "While I love and enjoy football," Son said in an interview with Harper's Bazaar Korea, published March 18, "I don't have the ability to teach others. It's the moment when I actually kick the ball myself that I truly cherish." Son's decision to forgo a football-related career after retirement may disappoint some fans, but

March 18, 2024

[INTERVIEW] Chilean public works minister seeks S. Korea's investment for Chile's transport infrastructure projects

SEOUL -- Chilean public works minister Jessica Lopez has called for South Korean companies' investment in her home country's ongoing transport infrastructure projects. Highlighting the critical role of technology in the mobility sector incorporating highways, airports, and electric vehicle networks, Lopez stressed the need for South Korean companies' participation in construction endeavors and the sharing of their expert know-how in providing cutting-edge technological so

March 18, 2024

AI startup Upstage establishes new branch in Silicon Valley to target N. American market

SEOUL -- South Korean artificial intelligence technology developer Upstage has opened its new branch in Silicon Valley to expand its presence in North America. The new branch called "Upstage AI" will showcase its large language model-based solution "Solar" at the GPU Technology Conference, a global AI event held by Nvidia. Solar is a deep-learning-based AI platform with content understanding and generation capabilities. The solution achieved the top position on

March 18, 2024

Seoul to adopt 'tagless' toll gate system at subway stations in 2025

SEOUL -- Seoul will adopt a "tagless" toll gate system at subway stations to solve congestion caused by the huge floating population at toll gates during commuting hours. Seoul Metro, the operator of the capital city's subway train system, predicts the walk-through gates will help people save time. Currently, Seoul Metro only allows passengers with public transport plastic cards or credit cards with a near-field communication (NFC) public transport payment feature to

March 18, 2024

KAI to adopt collaborative robots for production of fighter jet KF-21

SEOUL -- South Korea's major aircraft maker, Korea Aerospace Industries (KAI), will incorporate collaborative robots into the production process of the country's homemade fighter jet KF-21. Developed by domestic robot platform company Rainbow Robotics, these robots will be utilized for drilling tasks in the aircraft's fuselage structure. The KF-21 project started in 2010 in a bid to replace the country's aging fleet of U.S.-made F-4 and F-5 fighters. According to s

March 15, 2024

S. Korea initiates first step to develop long-range ship-to-air guided missile through $248 mln deal

SEOUL -- South Korea has initiated its first steps towards developing a long-range ship-to-air guided missile through a 330.6 billion ($248.6 million) deal with LIG Nex 1, a major defense contractor headquartered in Yongin, a satellite city of Seoul. These missiles are poised to serve as South Korea's next-generation maritime weaponry. The Defense Acquisition Program Administration (DAPA) announced on March 15 that a contract had been signed between the arms procurement agency

March 15, 2024