Most Popular
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Young Korean doctors seek plan B: cosmetic dermatology or overseas
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Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
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South Korea open to Indonesian proposal to cut KF-21 payments
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Police seek arrest warrant for med student who killed girlfriend
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Coupang earnings hit hard by losses from ailing Farfetch
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[K-pop’s dilemma] Time, profit pressures work against originality
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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Why femicide and dating violence are growing issues in S. Korea
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Man stabs woman and her son amid financial dispute, killing 1
A man in his 80s has been apprehended for stabbing a woman and her son at an apartment complex in Gangnam-gu, southern Seoul on Tuesday. According to Seoul Suseo Police Station, the suspect allegedly stabbed a woman in her 50s and her son after raiding their home in Gaepo-dong at 8 a.m., Tuesday morning. The woman was quickly transferred to the nearest hospital in a state of cardiac arrest, but was later pronounced dead after arriving at the hospital. The son is currently being treated at the ho
Social AffairsMay 7, 2024
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Probe of first lady on Dior bag allegations set to begin
A high-profile probe zeroing in on first lady Kim Keon Hee is set to begin as the top prosecutor pledged Tuesday to carry out a "speedy and strict" investigation into accusations that she illegally received a luxury Christian Dior bag as a gift from a Korean American pastor in 2022. “The prosecution plans to conduct a speedy and strict investigation (into the allegations against the first lady) based solely on existing evidence and legal principles,” Prosecutor General Lee
PoliticsMay 7, 2024
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S. Korean envoy to Russia attends Putin’s inauguration
South Korea's Ambassador to Russia Lee Do-hoon on Tuesday attended the swearing-in ceremony of Russian President Vladimir Putin for his fifth term, while the United States and most European Union countries boycotted the ceremony at the Kremlin. Lim Soo-suk, the spokesperson for Seoul's Foreign Ministry said that South Korea's decision was based on "conducting a comprehensive review of all matters" when asked about sending a government representative to the ceremony durin
Foreign AffairsMay 7, 2024
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Korea's logistics firms upscale facilities on Chinese e-commerce rise
Korean logistics companies are boosting their investment in their facilities to cope with the country’s increasing direct purchases from China, industry sources said Tuesday. According to Korea Customs Service, the number of items purchased through Chinese online shopping platforms last year reached 88.8 million, up 70.3 percent on-year. The combined value of those transactions also came to some 3.3 trillion won ($2.43 billion), up 121.2 percent from a year ago. The number of monthly activ
IndustryMay 7, 2024
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Male soloist to fill your playlist in May
A wide array of male solo artists will grace the stage this month. Lim Young-woong, who gained immense popularity through the trot audition program "Mr. Trot," on Monday released "Warmth" and "Home," which both climbed to the top two spots on major music charts in Korea such as Melon, Genie and Bugs within just an hour of their release, once again proving Lim's immense popularity. Both songs remain high in the charts as of Tuesday afternoon. The singer is sched
K-popMay 7, 2024
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[Today’s K-pop] Seventeen tops Oricon chart with best-of album
Seventeen notched the No. 1 spot on Oricon’s weekly album ranking with best-of album “17 Is Right Here,” according to agency Pledis Entertainment on Tuesday. It is the 12th time the band topped the chart, extending its record for an international artist. The compilation album is its eighth album to achieve the feat. The album sold over 2 million copies on the day of release and 2.96 million in the first week of sales. The main track “Maestro” topped the iTunes Top S
K-popMay 7, 2024
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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
Indonesia’s latest proposal to slash its share of the costs for the joint project to develop the South Korean KF-21 fighter jet appears to have left South Korea with no option but to cover the remainder. According to South Korea’s Defense Acquisition Program Administration on Tuesday, the Indonesian side has proposed to pay one-third of its agreed share -- which is about 600 billion won ($441 million) -- by the deadline about two years from now. The proposal came after Indonesia ha
DefenseMay 7, 2024
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
While ticket sales of the latest crime action franchise “The Roundup: Punishment” continue to climb toward the 10 million mark, filmmakers criticized the film’s monopoly of screens, occupying over 80 percent of all screens in Korea. The film is the fourth installment about hot-blooded detective Ma Seok-do (Ma Dong-seok), who this time is on a mission to nab the head of an illegal casino cartel. With no clear rivals in cinemas following its April 24 opening, the movie quickly ga
FilmMay 7, 2024
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Norman Foster's largest exhibition in Asia highlights sustainability in architecture
Pritzker Prize-winning English architect Norman Foster is one of the leading figures in architecture of the past few decades. Those who are familiar with modern architectural landmarks such as the HSBC Building in Hong Kong would also be familiar with his practice's work innovating architecture with technology. The largest exhibition of Foster's works in Asia currently being held in Seoul is focused on his team’s commitment to sustainability, a goal that has been at the heart of
Arts & DesignMay 7, 2024
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Seoul shares soar over 2% on looming hopes for US rate cuts
South Korean shares shot up over 2 percent Tuesday as investors were buoyed by growing hopes that the U.S. Federal Reserve may carry out rate cuts this year. The local currency gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index jumped 57.73 points, or 2.16 percent, to close at 2,734.36. Trading volume was moderate at 523 million shares worth 10.9 trillion won ($8 billion), with winners outpacing losers 582 to 285. Investor sentiment was boosted by growing hope that t
MarketMay 7, 2024
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Will China's self-sufficient dream in HBM come true?
With the US imposing strict trade restrictions on China's advanced semiconductors and chipmaking equipment, Beijing has been ramping up efforts to develop home-grown artificial intelligence chips to keep up with the global AI boom. Recently, the Chinese government and chipmakers have been working together to produce high-bandwidth memory chips, a crucial component in graphic processing units. With the backing of the government, the consortium led by Huawei aims to produce HBM2 by 2026. Indu
IndustryMay 7, 2024
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Israeli forces take control of Rafah crossing with Egypt
An Israeli tank brigade seized control Tuesday of the Gaza Strip side of the Rafah border crossing with Egypt, authorities said, moving forward with an offensive in the southern city even as cease-fire negotiations with Hamas remain on a knife’s edge. The move comes after hours of whiplash in the Israel-Hamas war, with the militant group on Monday saying it accepted an Egyptian-Qatari mediated cease-fire proposal. Israel, meanwhile, insisted the deal did not meet its core demands. The high
World NewsMay 7, 2024
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Dead man's confession of gang rape rejected as evidence
The Supreme Court recently overturned a lower court ruling that found three men guilty of group rape, based on the written confession left by another man before his death. South Korea's highest court said the note left by the deceased cannot be used as evidence of the sexual crime in a criminal case, saying its credibility has not sufficiently been verified. The deceased, who died at his apartment in Seoul in 2021, had apologized in what is thought to be a suicide note that he and three oth
Social AffairsMay 7, 2024
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NPS commits record W1.5tr for alternative investments
South Korea's National Pension Service will pour a record 1.5 trillion won ($1.1 billion) in alternative assets managed by external managers this year, the largest such allocation in the fund's history. The majority of the sum, 1 trillion won, will go to private equity funds, according to a recent announcement by the NPS, marking a 25 percent increase from the previous year. In 2023, the NPS allocated 800 billion won to private equity, with Macquarie Asset Management, IMM Private Equit
IndustryMay 7, 2024
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Mirae Asset introduces high dividend yield ETF to China
Mirae Asset Global Investments, a leading asset manager based in Korea, has introduced a high dividend yield exchange-traded fund to the mainland Chinese market through cross-border trading with Hong Kong, the firm announced Tuesday. The Global X Hang Seng High Dividend Yield ETF, operated by the asset manager’s ETF arm in Hong Kong, was set up for trading on China’s Shanghai Stock Exchange and Shenzhen Stock Exchange on Monday. The ETF tracks shares with high dividend yields on the
IndustryMay 7, 2024
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Hanwha to receive $140m in US tax credits with new solar panel plant
Hanwha Solutions will receive additional tax credits of about $140 million from the United States government this year as it has completed the construction of a solar module production plant in Georgia and recently begun operations there, the Korean company said Tuesday. According to Hanwha Qcells, Hanwha Solutions’ US solar energy subsidiary, the company completed the construction of solar module production lines at the Cartersville plant at the end of April. The site will be capable of p
IndustryMay 7, 2024
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
Tech firms have joined forces both domestically and globally to take on US chip giant Nvidia in the AI chip sector, which has enjoyed a near monopoly in the burgeoning market. An increasing number of global Big Tech companies are building their own AI ecosystems amid expectations for continuous growth in the sector, according to experts on Tuesday. While Nvidia has teamed up with SK hynix and TSMC to further strengthen its technical leadership in high-bandwidth memory chips, other tech firms are
TechnologyMay 7, 2024
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Seoul mayor proposes mutual economic cooperation with Dubai
Seoul Mayor Oh Se-hoon proposed to forge mutual financial and economic cooperation with Dubai, the largest city in the United Arab Emirates, during the Dubai Fintech Summit held there on Monday. In his keynote speech, “Seoul - A Global Economic Innovation Hub,” Oh highlighted the city’s strengths as a global financial center, a leader in innovative finance and a digital financial hub. He also outlined Seoul's strategic direction to become one of the top five global cities
Social AffairsMay 7, 2024
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LG CNS hosts contest for math optimization talents
LG CNS said Tuesday it will host a contest that targets talented individuals in the field of mathematical optimization for bundle deliveries. Co-organized with the Korean Institute of Industrial Engineers, Optimization Grand Challenge 2024 aims to nurture exceptional talents in mathematical optimization and foster broader social interest in the field. Mathematical optimization involves finding the most efficient solution by considering all possible scenarios under current resources and condition
TechnologyMay 7, 2024
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Posco Future M unveils report on sustainable supply chain
To address increasing global concerns regarding ethical sourcing and environmental responsibility, domestic battery material manufacturer Posco Future M released its third Responsible Minerals Activity Report on Tuesday. The publication is a part of the company’s efforts to establish a sustainable supply chain for materials used in battery production, specifically the cathode and anode segments. It marks the continuation of a commitment initiated in 2021 when Posco Future M first outlined
IndustryMay 7, 2024