Seoul shares up for 3rd day ahead of key US data

South Korean stocks ended slightly higher Tuesday as investors remained cautious ahead of the releases of major US data later this week to gauge the Federal Reserve's monetary policy direction. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 3.2 points, or 0.12 percent, to 2,621.50. Trade volume was a little slim at 372.2 million shares worth 8.8 trillion won ($6.4 billion), with losers outnumbering winners 561 to 322. Fo

MarketAug. 13, 2024

Relentless heat sparks surge in heat-related illnesses, livestock losses

The ongoing heat wave continues to take a toll on humans and livestock alike, with men, the elderly and manual laborers most affected, while poultry remains hardest hit among animals. As of Sunday, South Korea reported nearly 2,300 heat-related illnesses and over 700,000 livestock deaths, data showed Tuesday. According to the Interior Ministry, the cumulative number of heat-related illness cases had reached 2,293, with 21 deaths reported. This is the highest number since the record-breaking heat

Social AffairsAug. 13, 2024

Kimchi jjigae vs. doenjang jjigae: Korean stew rivalry seems settled

Kimchi jjigae or doenjang jjigae? South Korea's media has long pitted the two against each other, though the choice has always been more or less a toss-up for Koreans. But while the two stews remain daily favorites, recent years have seen the scales tip towards one in particular. That is, these two representatives of Korea's jjigae repertoire no longer enjoy equal popularity, which in part mirrors broader shifts in taste and culinary trends in Korean society. Kimchi jjigae as today

Hashtag KoreaAug. 13, 2024

Yoon restores ex-governor's political rights, pardons Park's aides

President Yoon Suk Yeol on Tuesday officially restored the rights to hold public office for former South Gyeongsang Gov. Kim Kyoung-soo, who had served in jail until late 2022 for illegally conspiring to manipulate online opinions in favor of former President Moon Jae-in ahead of the 2017 presidential election. The reinstatement of Kim's political rights came as part of Yoon's decision to grant special pardons for a total of 1,219 convicts on the occasion of Liberation Day which fall

PoliticsAug. 13, 2024

Cabinet asks Yoon to veto controversial cash handout bill

The Cabinet on Tuesday voted to ask President Yoon Suk Yeol to veto the Democratic Party of Korea bill for handing out 250,000 to 350,000 won ($182 to $255) to every South Korean as economic relief. Earlier this month, the bill was passed in the Assembly by the majority-holding Democratic Party despite the ruling People Power Party pushback. Speaking at Tuesday’s meeting, Prime Minister Han Duck-soo said the Cabinet was “once again forced to consider bills that passed the Assembly i

PoliticsAug. 13, 2024

Analysts offer rosy H2 outlook for LG Display

LG Display is expected to get out of the red in the latter half of this year, largely buoyed by its increased panel shipments for Apple's new iPhones that debut next month, according to industry sources on Tuesday. Local researchers painted a rosy outlook for LG Display, which has begun stable production of the first batch of the panels for the new iPhone 16 series. The Korean panel maker is said to be responsible for almost 40 percent of the total panel supplies for the new iPhones. Accord

IndustryAug. 13, 2024

Mugunghwa festival, events celebrate Liberation Day

Liberation Day on Aug. 15 will be a great time to take in the beauty of South Korea’s national flower “mugunghwa,” or Rose of Sharon, according to Korea Forest Service. Commemorating the country’s history and the sacrifice of Korean independence fighters, a variety of mugunghwa-themed events will be held at arboretums and tourist destinations across the country. Chollipo Arboretum, located in Taean, South Chungcheong Province, will entertain visitors with a mugunghwa-rela

TravelAug. 13, 2024

Photos by German missionaries show Korea century ago

A report containing photos taken by German missionaries that show what Korea looked like in the early 20th century has been made public, according to the Overseas Korean Cultural Heritage Foundation. The announcement Monday came two years after the conclusion of a joint project by the state-run group and a local research institute on Korean church history to retrieve the 1,874 photos showing Korean people or landscapes held by St. Ottilien Archabbey, a Benedictine monastery in southern Germany.

Arts & DesignAug. 13, 2024

Hyundai, Kia to offer free EV safety inspections

Hyundai Motor Company and Kia have announced a free inspection service for all owners of their electric vehicles, responding to heightened safety concerns following a recent apartment fire in Cheongna International City, Incheon earlier this month. The inspection service, already underway since Aug. 8 for Hyundai and Aug. 9 for Kia, aims to reassure customers by thoroughly checking the safety of their vehicles. Hyundai and Genesis owners can access inspections at 22 premium High Tech and 1,234 a

MobilityAug. 13, 2024

Polestar 4 signals premium EV expansion in Korea

Polestar Korea has launched the Polestar 4, the Swedish electric-vehicle maker’s coupe-style sports utility vehicle, seeking a breakthrough amid the ailing EV market with the new model. “The Polestar 4 boasts an overwhelming performance, design, interior space and outstanding price when compared to other vehicles in the same segment, including those with internal combustion engines. It will be able to breathe a fresh breeze into the domestic premium EV market,” said Ham Jong-su

MobilityAug. 13, 2024

Korea Arboreta and Gardens Institute bridges Korean gardens to global markets

The Korea Arboreta and Gardens Institute is paving the way for Korean-style gardens abroad. The institute, operating under the Korea Forest Service, showcased the beauty and traditional philosophy of Korean gardens on a global stage by setting up a special garden at the International Horticultural Expo in Doha, Qatar, last October. This garden, covering 1,200 square meters, created an oasis in the desert using 350 trees, 600 shrubs and 1,500 herbaceous plants, sourced locally. According to the i

IndustryAug. 13, 2024

Korea Arboreta and Gardens Institute takes center stage in global plant conservation efforts

As climate change continues to threaten plant ecosystems worldwide, the Korea Arboreta and Gardens Institute is drawing increased attention as a key player in protecting biodiversity both locally and abroad. Operating under the state-run Korea Forest Service, KoAGI's primary task is managing the Baekdudaegan Global Seed Vault in Bonghwa, North Gyeongsang Province. Opened in December 2015, the vault houses nearly 240,000 seeds from 5,792 wild plant species worldwide and is one of only two su

IndustryAug. 13, 2024

Botanical experts convene in Korea to highlight urgency of plant conservation

A global gathering of botanical experts convened Wednesday at the National Arboretum in Sejong, South Korea, to address the pressing issue of plant biodiversity conservation in an era of climate change. The international symposium, jointly hosted by the Korea Arboreta and Gardens Institute (KoAGI), Korea Forest Service and Korea National Arboretum, brought together 100 leading specialists from across the globe to hash out collaborative strategies for protecting the planet's flora. Dr. Paul

IndustryAug. 13, 2024

Jun, Jeonghan to halt Seventeen group activities

K-pop sensation Seventeen will temporarily promote without two members while member Jeonghan enlists in the military and Jun pursues an acting career in China during the second half of this year. "Jeonghan is scheduled to fulfill his mandatory military service later this year. While most (of the group’s) prescheduled content has been completed, he will not be able to participate in the group’s promotion for its 12th mini album or the 'Seventeen [Right Here] World Tour,'

K-popAug. 13, 2024

Chipmakers keen on enhancing power efficiency of AI chips

The latest boom in artificial intelligence is prompting competition among the world's top three memory-chip-makers to debut more power-efficient DRAM chips with higher capacity to power high-performance computing for AI applications. Chipmakers are focusing especially on the seventh-generation Low Power Double Data Rate 5X chip to be used not just in mobile devices, but also in the automotive industry. "As AI applications are diversifying, the demand for memory products consuming low p

IndustryAug. 13, 2024

Korea mulls service fee hike for 1,000 critical surgeries

The Health Ministry said Tuesday that medical service fees for complex but essential surgeries, often undervalued despite their high skill and resource demands, will be raised possibly starting early next year. This initiative seeks to correct the long-standing pay disparities in a country where compensation for cosmetic procedures at private clinics is often higher than critical, lifesaving surgeries. The discussion took place during the medical reform committee meeting earlier in the day, whic

Social AffairsAug. 13, 2024

Fannie Mae extends lease of Igis-owned Midtown Center in DC

After looking to relocate its headquarters from Washington, partially owned by South Korea's Igis Asset Management, US mortgage giant Fannie Mae has reversed course, opting instead to extend its lease under revised terms that will see it occupy a smaller space. Igis Asset Management announced Tuesday that the Federal National Mortgage Association, commonly known as Fannie Mae, has recently signed a new long-term lease at Midtown Center, a downtown DC property the Korean company jointly owns

IndustryAug. 13, 2024

COVID-19 cases to peak by late August: KDCA

The number of COVID-19 cases is expected to reach its peak by the end of this month, the Korea Disease Control and Prevention Agency said, vowing to expand its COVID-19 response team and implement stricter antivirus measures. As of the first week of August, the agency said up to 861 cases have been recorded at 220 major medical institutions around the country, a sixfold increase compared to the number of cases from July. “The surge could peak around the end of August, as contacts among peo

Social AffairsAug. 13, 2024

Moment when divorce sank in? Divorced Koreans pick splitting assets, moving to new home

A recent survey showed that many in South Korea who have divorced said that splitting up hit them the hardest when they were dividing assets with their former spouse, or when they were moving to a new home. Local matchmaking agencies Bien-Aller and Only-You conducted the survey of 267 divorced men and 267 divorced women, and asked them when was the moment their divorce sank in. Some 31.1 percent of the female respondents picked when they were receiving their half of the marital assets, or giving

Social AffairsAug. 13, 2024

[Korea Quiz] Fire and water

Find the answer at the bottom. In Korean, water and fire serve as powerful metaphors that convey various meanings beyond the literal. Water, being a shapeless liquid, is used metaphorically to signify weakness or a lack of substance. The phrase, "mureul meokda," (물을 먹다) which literally means "to drink water" or "to be fed water," is commonly used to signify experiencing a setback, being fooled, being rejected or generally falling short. Another way water is u

Hashtag KoreaAug. 13, 2024