Naver's streaming platform CHZZK to inject $3.7 mln to attract more content creators

SEOUL -- CHZZK, a video content streaming platform operated by South Korea's web service giant Naver, is preparing to open its purse to attract more content creators to its service. The new livestreaming platform's move is aimed at filling the gap created in South Korea's $4-million games livestreaming market, caused by the recent exit of Twitch, Amazon's video live-streaming service, from the domestic market. Game livestreaming services can be easily explained as

February 6, 2024

AI developer Upstage to provide on-device AI technology for LG Electronics' laptop

SEOUL -- South Korean artificial intelligence technology developer Upstage will cooperate with LG Electronics in on-device generative artificial intelligence solution that processes and computes information locally within the device, without relying on external cloud resources. Upstage aims to provide service for the conglomerate's signature ultra-lightweight laptop brand "LG Gram." An on-device software integrates AI functions into devices, removing the need for a s

February 6, 2024

Education ministry to help multicultural families and N. Korean defectors adapt to S. Korea through mentorship programs

SEOUL -- South Korea's education ministry will assist children with a foreign parent or young North Korean defectors in adapting to South Korean society through a special mentorship program involving university students. According to data released by the South Korean government, there are at least 1.1 million families with at least one parent from foreign background. Children from these families, also known as "multicultural families," sometimes find it challenging t

February 6, 2024

Le Sserafim's agency to seek new girl band through auditions in S. Korea

SEOUL -- BTS agency's record label Source Music will hold auditions to form a sister band of the label's multinational girl group, Le Sserafim. Regardless of nationality, females born after 2007 can apply for the audition, which seeks talented members in vocals, rap, dance, and other areas. The "2024 Source Music Audition" will take place in six cities in South Korea next month, starting in Seoul on March 2. The other five cities include the southern port city of

February 6, 2024

Samsung's leader Jay Y. Lee acquitted of 2015 merger case

SEOUL -- The leader of South Korea’s top conglomerate, Samsung, was acquitted in a merger case of Samsung C&T, a Samsung Group unit involved in trade, and Cheil Industries, the apparel and resort unit. The prosecution has claimed that the group's chairman conducted the 2015 merger for a stable succession of management rights. The Seoul Central District Court ruled on February 5 that there is no evidence to prove Samsung Chairman Jay Y. Lee's charges. The prosecut

February 5, 2024

LS Electric's subsidiary completes construction of EV parts plant in Mexico

SEOUL -- LS e-Mobility Solutions, an electric vehicle component producer affiliated with South Korea's power solution provider LS Electric, has completed the construction of a plant in Mexico. Through the new plant that can produce up to five million electric vehicle relays and four million battery disconnect units annually, LS e-Mobility Solutions aims to strengthen its presence in the North American electric vehicle market. LS Electric said on February 5 that LS e-Mobility S

February 5, 2024

S. Korea partners with Saudi Arabia for mid-to-long-term defense cooperation

SEOUL -- Through a joint committee, South Korea's arms procurement agency will collaborate with Saudi Arabia on mid-to-long-term defense development plans. The task force will consistently carry out research and development projects to advance technology and industry in the defense sector for both nations. During South Korean President Yoon Suk-yeol's state visit to the Middle Eastern country in October 2023, Yoon reached a consensus with Saudi Arabia's Crown Prince Mo

February 5, 2024

HD Hyundai to make foray into floating offshore nuclear power market

SEOUL -- South Korea's HD Hyundai will make a foray into the floating offshore nuclear power market. Compared to conventional land-based plants, offshore nuclear power plants are recognized for their enhanced safety during natural disasters such as earthquakes and tsunamis, as well as a reduced probability of local conflicts during the site acquisition process. The company will work with global nuclear power firms, focusing on small modular reactors such as TerraPower, an America

February 5, 2024

YouTube becomes S. Korea's favorite smartphone app for first time: market data

SEOUL -- YouTube, the video content-based social media platform operated by Google, became South Korea's favorite smartphone app, surpassing messenger app KakaoTalk, the former king of South Korea's smartphone app ecosystem, for the first time in December 2023, according to data released by mobile big data company IGA Works. KakaoTalk, with more than 45.5 million monthly active users (MAUs), has maintained its status as South Korea's favorite smartphone app since the e

February 5, 2024

Viet Nam continues to stand as S. Korea's 3rd-largest trade partner in 2023

SEOUL -- Viet Nam maintained its position as South Korea's third-largest trade partner in 2023. The main product category that was shipped to Viet Nam was semiconductors, followed by flat-screen displays and petroleum-based products. South Korea forged a diplomatic relationship with the Republic of Vietnam in 1956 but it was severed in 1975 due to the fall of Saigon during the Viet Nam War (1955~1975). South Korea established diplomatic ties with the Socialist Republic of Viet

February 5, 2024