​Top S. Korean conglomerate heads visit Tokyo to discuss cooperation with Japanese counterparts

SEOUL -- Samsung Electronics Chairman Jay Y. Lee, SK Group Chairman Choi Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo, and Lotte Group Chairman Shin Dong-bin have joined the ranks of other major South Korean conglomerate leaders on a trip to Tokyo in a bid to engage in discussions with their Japanese counterparts on the cooperation in various sectors including semiconductors, batteries, and electric components. According to industry sources

March 17, 2023

Pinkfong to work with Saudi Arabian government for expansion of content business

SEOUL -- The Pinkfong Company, famous for its children's YouTube mega-hit song "Baby Shark, has partnered with a Saudi Arabian ministry in charge of issuing licenses to foreign investors, to expand its business in the Middle Eastern country. Saudi Arabia accounts for the largest portion in terms of cumulative viewing time on Pinkfng's YouTube channel in the Middle East and North Africa region. Pinkfong has gained global popularity for its Baby Shark content. Baby Sha

March 17, 2023

[SUMMIT] ​S. Korean President Yoon and Japanese Prime Minister Kishida agree to resume 'shuttle diplomacy'

SEOUL -- During a summit meeting in Tokyo, South Korean President Yoon Seok-yeol and Japanese Prime Minister Kishida Fumio have reached a consensus on resuming "shuttle diplomacy," a diplomatic action in which international leaders frequently visit each other's country to strengthen diplomatic relations. Yoon met Kishida at his official residence on March 16 for two meeting sessions during his two-day visit to Japan. The two leaders attended the first 23-minute-long m

March 16, 2023

[COLUMN] President Yoon and Korea's new posture in the world

SEOUL -- After what many people in Korea considered a wobbly start as president of this country, President Yoon Suk-yeol this month stepped up and, in a brief, bold, five-minute speech, made history. Not only did he reframe the relationship with Japan, but he also articulated a new posture for Korea in the world. “We must stand in solidarity with countries

March 16, 2023

SGC Energy to convert Vietnam's coal power plants to biomass-based generating facilities

SEOUL -- SGC Energy, a green energy solution provider in South Korea, will work with a Vietnamese power engineering consulting firm to carry out projects to convert coal power plants into biomass-based generating facilities. The partnership was made in response to Vietnam's state project to phase out coal power generation which accounts for 40 percent of the country's total power supply. Biomass is a renewable organic material based on plants and animals. It is used as fuel

March 16, 2023

​South Korea to inject $228 bln to create mega-sized semiconductor cluster by 2042

SEOUL -- In a bid to beef up the country's competitiveness in the global semiconductor sector, South Korea will invest 300 trillion won ($228.7 billion) to create the world's largest semiconductor research and development center complex in Yongin City south of Seoul by 2042. The Ministry of Trade, Industry and Energy revealed the "National Advanced Industry Promotion Strategy" at the Emergency Economic and Livelihoods Council, chaired by President Yoon Suk-yeol on

March 16, 2023

Mars Auto's self-driving solution to be demonstrated through cargo trucks in S. Korea

SEOUL -- A self-driving solution developed by Mars Auto, a South Korean autonomous truck developer, will be used for freight transport service through urban roads that connect Seoul and the southeastern province of Gyeongsang. The level 3 self-driving system with seven cameras and a minicomputer can detect driving environments and autonomously control cargo trucks. The current law does not allow autonomous commercial cargo transport services between different cities and provinces.

March 16, 2023

South Korea's theme park & amusement fair to be held in KINTEX in July

SEOUL -- "2023 Korea Theme Park & Amusement Fair" (KAAFAIR), one of South Korea's largest annual theme park exhibitions, will be held in KINTEX in Ilsan northeast of Seoul for three days in July. Various companies from South Korea and the global theme park and amusement park industries will participate in the event. After its first successful event held in the southern port city of Busan in 2020, KAAFAIR will be held for the first time in three years for three day

March 16, 2023

Sales of fashion items at W Concept's offline stores increase 30 percent year-on-year

SEOUL -- Sales of 65 brands at offline stores run by W Concept, the online fashion platform wing of South Korea's retail giant Shinsegae, increased 30 percent between January 2022 and January 2023, compared to the same period a year ago. The company, which attracted many young female consumers through its online platform, has showcased three offline stores targeting young consumers who like to express themselves with unique apparel items. W Concept said in a statement on March

March 16, 2023

[SUMMIT] President Yoon heads to Japan for summit meeting with Prime Minister Kishida

SEOUL -- South Korean President Yoon Seok-yeol has departed for a two-day visit to Japan to attend a summit meeting with Japanese Prime Minister Kishida Fumio. Yoon and his delegation including staff members departed from Seoul Airport in Seongnam south of the capital city on an Air Force presidential jet at around 9:50 a.m. (0050 GMT) on March 16. After arriving in Japan, Yoon's first schedule will be to attend a meeting with South Korean residents in Tokyo before participatin

March 16, 2023