YG Entertainment renews group contract with BLACKPINK members 

SEOUL -- K-pop girl band BLACKPINK has reached a consensus with its agency "YG Entertainment" to carry on with its group activities. The four-member band is currently discussing with its agency regarding the possibility of each member continuing individual activities. "We are happy to maintain our relationship with BLACKPINK," YG Entertainment's head Yang Hyun-suk said after signing the agreement with the group. The producer added: "BLACKPINK members wil

December 6, 2023

Hanwha Ocean becomes preferred negotiator for S. Korea's 3,600-ton attack submarine project

SEOUL -- Hanwha Ocean, the shipbuilding wing of South Korea's Hanwha Group, has become the preferred negotiator for a government contract designed to construct a 3,600-ton class "Jangbogo" attack submarine. This is the company's first submarine order since Hanwha Group became the owner of the Daewoo Shipbuilding & Marine Engineering's shipyard through a $1.4 billion deal that was finalized in early 2023. South Korea has a three-stage project called KSS (Jan

December 6, 2023

Inflation of food prices accelerate despite slowed inflation of consumer prices

SEOUL -- Despite the slowed inflation of consumer prices in November, the inflation rate of food prices has become steeper, data released by South Korea's statistics information office showed. Among food ingredients, the increased rates of prices of salt, sesame oil, and pasta noodles were the biggest. The continued consumer price increase in South Korea was caused by high interest rates, high oil prices, and increased prices of agricultural products. Various factors such as abn

December 6, 2023

Megastore franchise Emart to open third store in Viet Nam

SEOUL -- Emart, the megastore wing of South Korea's retail conglomerate Shinsegae, will open its third store in Viet Nam in about a year after the launch of its first store in November 2022. Visitors can enjoy various types of food products such as pizza and Gimbap, a Korean dish of rice and other ingredients such as vegetables and meat wrapped in sheets of laver. Emart said in a statement that the third store, located in Ho Chi Minh City, will start operations on December 7. Th

December 6, 2023

State electricity company partners with Jordan's state agency for small modular reactor project

SEOUL -- Korea Hydro & Nuclear Power, a state operator of South Korea's nuclear power plants, will work with Jordan's state agency responsible for atomic energy projects, to provide its small modular reactor that is claimed to be smaller and safer than the conventional reactors. The South Korean company will carry out a technology exchange and feasibility study with Jordan, considering the adoption of the small modular reactor after 2030. Small modular reactors (SMRs) ha

December 5, 2023

Spicy rice cake Tteokbokki franchise Addal receives Malaysia's halal authorization

SEOUL -- South Korea's street food franchise operator Addal has secured halal certification for Tteokbokki, finger-sized rice cakes simmered in fiery-red spicy chili sauce, from the Malaysian government. Halal-certified food products are considered to be safe and clean under Islamic standards. The food maker will release three different ready-to-eat Tteokbokki products in the Southeast Asian country targeting Muslim consumers. Malaysia's Jabatan Kemajuan Islam Malaysia (JAKI

December 5, 2023

S. Korean public buses to provide faster 5G-based free Wi-Fi service

SEOUL -- South Koreans who use public buses will gain access to a 5G-based free public Wi-Fi service that is about four times faster than the currently provided 4G-based free wireless internet service starting December 6. Currently, some 29,100 public buses that carry passengers across South Korea offer 4G-based free Wi-Fi service for customers. By following the simple steps shown inside a bus, customers can use the free wireless internet service without having to use up their data

December 5, 2023

S. Korea to allow customers use ATMs without plastic cards

SEOUL -- In line with the current "walletless' trend where people no longer carry plastic cards and make payments with their smartphones, South Korea will allow customers to use automatic teller machines through QR codes shown on their smartphones' display by mobile banking apps. According to data released by the state financial watchdog, a total of 61,233,000 plastic cheque cards were issued in the first quarter of 2023, down 6.9 percent from the same period a year ago

December 5, 2023

S. Korea's defense forces to adopt Brazilian transport aircraft 'C-390'

SEOUL -- C-390 Millennium, a military transport aircraft created by Brazilian aircraft manufacturer Embraer, has become the first Brazilian military plane adopted by South Korea's defense forces. South Korea's arms procurement agency has selected the transport aircraft over two other products created by American aerospace company Lockheed Martin and Airbus, a European aircraft maker. C-390 with a transport capacity of about 26 tons is designed to carry out various missions s

December 5, 2023

Lotte seeks to become gamechanger in S. Korea's grocery delivery market with new fulfillment centers

SEOUL -- Lotte Shopping, the retail wing of South Korea's Lotte Group, will seek to become the gamechanger in the country's ecommerce grocery delivery service market estimated to reach about 54 trillion won ($41.2 billion) in 2025 by establishing consumer fulfillment centers which would play the role of cold chain logistics hubs for fresh goods and groceries. South Korea's online grocery and fresh goods delivery market is dominated by Coupang, the South Korean counterpar

December 5, 2023