S. Korea to invest $898 mln in AI industry in 2024

SEOUL -- South Korea will invest about 1.2 trillion won ($898 million) in 2024 to nurture its artificial intelligence industry. At a conference in Seoul, Prime Minister Han Duck-soo said the country plans to reduce various regulations and focus on improving AI-based services used in everyday environments including the legislative and medical sectors. "While tightening next year's budget as much as possible, the government has allocated 1.2 trillion for the AI sector, up 15.8

September 7, 2023

80% of foreigners satisfied with life in S. Korea: survey

SEOUL -- A survey showed around 80 percent of foreigners are satisfied with their life in South Korea. However, about 20 percent of them have experienced mistreatment in the country. According to government data, a total of 1,752,346 foreigners resided in South Korea for three months or longer in 2022. The national statistics office said the number of multicultural families was 399,396, up 25.2 percent from 2017. The number of multicultural households has steadily increased without bei

September 7, 2023

Global art fair Frieze begins in southern Seoul

SEOUL -- Frieze, a major global art fair, has started at a convention center in Gangnam District, Seoul's heart of fashion and finance. Some 120 galleries from 30 countries including the United States, Britain, and South Korea are presenting various artworks at the four-day event. The annual contemporary art event, run by a British art magazine publisher of the same name, is one of the largest art fairs along with Switzerland's Art Basel and France's Foire Internationale d&

September 6, 2023

S. Korean President Yoon promises to strengthen cooperation with ASEAN

SEOUL -- South Korean President Yoon Suk-yeol has pledged to enhance partnership with the Association of Southeast Asian Nations at a summit meeting held in Jakarta. The statement was made during his journey to Indonesia for the ASEAN summit meeting. After attending a set of meetings in Indonesia, Yoon is set to move to India to take part in the G20 summit in New Delhi. At the ASEAN summit meeting on September 6, the South Korean leader said his country would support the union of

September 6, 2023

​Korean Air starts bio-aviation fuel demonstration with oil refiner GS Caltex

SEOUL -- Korean Air, South Korea's flag carrier, has started the demonstration of bio-aviation fuel provided by the country's major oil refiner GS Caltex. The first biofuel-based cargo flight took off from Incheon International Airport, South Korea's main gateway, and headed to Los Angeles. A total of six cargo flights will be tested for three months. Biofuel is produced using plant-based or animal-based oil such as cooking oil from fast food restaurants or palm oil. Bi

September 6, 2023

Justin Timberlake's label signs contract with rookie boy band Riize

SEOUL -- RCA Records, an American record label that includes Justin Timberlake and Khalid, has signed a contract with Riize, a seven-member band formed by South Korea's entertainment powerhouse SM Entertainment. Pre-orders for the group's debut album "Get A Guitar" exceeded more than one million copies before its release on September 4. SM Entertainment said in a statement on September 5 that the boy band signed a label contract with the American label owned by Sony M

September 5, 2023

GI Innovation partners with US tech company Medidata to develop AI-based immuno-oncology pipeline

SEOUL -- South Korea's pharmaceutical company GI Innovation will work with Medidata Solutions, a New York-based clinical trial data solution provider, to accelerate the clinical development of its immunotherapy agents -- GI-101 and GI-102. Medidata's artificial intelligence and big data would be used for the two immuno-oncology candidate substances. GI-101 is a dual fusion protein that combines functions of CD80 and IL-2, proteins that play crucial roles in the immune syste

September 5, 2023

Seoul to operate 199-seater commuter water bus on Han River in 2024

SEOUL -- A water bus that can carry 199 passengers and cross the river will start its operation in 2024 on the Han River that flows through Seoul. The capital city will improve various problems found in its water taxi service which is barely used by commuters. Seoul said the water taxis have been shunned by Seoulites due to the lack of infrastructure that enables passengers to transfer to ground transportation such as buses. In October 2007, Seoul launched the river taxi service on t

September 5, 2023

S. Korean President Yoon to visit Indonesia for ASEAN summit meetings

SEOUL -- South Korean President Yoon Suk-yeol will embark on a six-day journey to Indonesia to attend the ASEAN summit meetings and visit India for a summit meeting with Indian Prime Minister Narendra Modi. Indonesian President Joko Widodo invited President Yoon to attend a summit meeting. President Yoon will attend a set of meetings including South Korea-ASEAN summit meetings and the South Korea-China-Japan trilateral summit meeting as well as a gala luncheon session hosted by the Ind

September 5, 2023

LG Magna e-Powertrain to construct EV parts plant in Hungary by 2025

SEOUL -- LG Magna e-Powertrain, a joint venture between Canada's mobility technology company Magna International and South Korea's LG Electronics, will build a plant in Europe to produce electric vehicle components such as electric motors. The company's first European factory will be built in Hungary's industrial city "Miskolc" by 2025. The EV parts plant will be set up in Miskolc in northwestern Hungary, LG Magna e-Powertrain, said on September 4. The 26,000-s

September 4, 2023