Most Popular
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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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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South Korea open to Indonesian proposal to cut KF-21 payments
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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Police seek arrest warrant for med student who killed girlfriend
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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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
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
Netflix's original series "Super Rich in Korea" will allow viewers to appreciate South Korea more by showcasing the lifestyles of ultra-wealthy individuals who chose to relocate to Korea out of their love for the country, the show's producers said Tuesday. "Super Rich in Korea" is a six-part reality show that explores the extravagant lives of super-rich foreign nationals living in Korea. The show stars five cast members -- Kim Anna, a member of the Pakistani nobil
TelevisionMay 7, 2024
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Ateez first K-pop act to headline Mawazine
Ateez will be the first-ever K-pop act to headline the Moroccan international music festival, Mawazine, according to KQ Entertainment. Mawazine returns to Rabat, Morocco on June 21-29 after a three-year break prompted by the COVID-19 pandemic. The eight-member boy group will perform on the main stage, OLM Souissi, on June 23. Previous headliners of the annual festival launched in 2001 include global music icons such as Whitney Houston, Mariah Carey and The Weeknd. Other artists in the lineup for
K-popMay 7, 2024
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Younger Koreans can't get enough of short-form video, survey shows
Half of South Korean workers in their 20s said they are "addicted to watching short videos" on mobile or online platforms, according to a recent survey by job search platform Incruit. In the survey conducted of 870 employees across the country between April 29 and May 1, 27.4 percent of all respondents said they are "addicted" to watching short-form videos. Per age group, 49.8 percent of the respondents in their 20s and 30.8 percent of those in their 30s said they were addict
Social AffairsMay 7, 2024
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Yoon revives civil affairs office as first lady faces investigation
President Yoon Suk Yeol on Tuesday named former prosecutor Kim Joo-hyun as the new senior presidential secretary for civil affairs, a position he abolished two years ago to curb accusations that it meddles in probes by the prosecution and the police. The revival of the senior presidential secretary immediately prompted speculation that Yoon's office might use the new senior secretary position to deal with legal issues potentially involving him and his family, given that the position traditionall
PoliticsMay 7, 2024
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Seoul city aims to halve carbon emissions by 2033
The Seoul Metropolitan Government announced Tuesday that the city aims to reduce carbon emissions by 50 percent by 2033 from the 2005 levels, and reach complete carbon neutrality by 2050. With the ambition of building a city safe from climate crises, the city has announced its new 10-year plan, named the Basic Plan for Carbon Neutrality and Green Growth in Seoul, which includes carbon-neutral and eco-friendly energy transition policies to cut carbon emissions by 50 percent by 2033 compared to 20
Social AffairsMay 7, 2024
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In global smartphone powerhouse, an unwavering submarket for 'dumb phones'
In February last year, Kim Min-ji bought a used Samsung flip phone made in 2009. With a circle-shaped LED display on the outside showing the time and information such as incoming calls, the cell phone was the same Kim used in her first year of college. “It brought back memories,” Kim said. But nostalgia wasn't her motivation for the purchase. She bought it for her 9-year-old daughter. She wanted to be able to reach her child whenever and wherever needed, but also to limit the
Hashtag KoreaMay 7, 2024
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S. Korean police to suit up with new body armor, shields in June
The National Police Agency said Tuesday it will supply police officers with advanced protective gear starting in June, responding to the 1,000-plus injuries of officers that have occurred in the last few years. The new gear that will be provided for police officers are four types of stab-proof body armor and mid-sized tactical shields, which will be provided to 17 divisions of the police force including the detective, rapid response team, traffic and other branches of regional police forces. The
Social AffairsMay 7, 2024
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Dried seaweed prices skyrocket to highest-ever level
The wholesale price of gim, or dried seaweed, in South Korea in April nearly doubled from last year, rising to its highest-ever level. A 100-sheet package of gim was traded at an average of 10,089 won ($7.4) in April, soaring by 80.1 percent compared to the same month in 2023, according to the state-run Korea Maritime Institute. It was the first time that the wholesale price of gim surpassed the 10,000-won mark, and the institute projects that the price will keep climbing to 10,875 won by Octobe
ConsumerMay 7, 2024
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[Photo News] Family fun
Korean Air hosted a Family Day event at its headquarters in Seoul over the weekend, welcoming employees and their families from Saturday to Monday. After a hiatus due to the pandemic, the firm's annual tradition resumed last year. This year's gathering saw some 13,000 attendees, including Delta Air Lines employees stationed at Korean Air's headquarters as part of their joint venture partnership. The hangar was transformed into a theme park to offer a variety of activities, compa
IndustryMay 7, 2024