KEPCO wins 2 new renewable energy deals in Saudi, Guam

The state-run Korea Electric Power Corp. (KEPCO) said Friday it has secured new renewable energy deals in Saudi Arabia and Guam, expected to lead to over 1 trillion won (US$717.1 million) in sales over the next 25 years. A consortium of KEPCO and Masdar, an energy firm from the United Arab Emirates, won a bid for a project led by the Saudi Power Procurement Company, under the Middle Eastern country's national renewable energy program. The project expected to cost 1.5 trillion won is aimed a

EconomyNov. 15, 2024

Samsung Electronics to buy back 10 tln won in shares to enhance shareholder value

Samsung Electronics Co. said Friday it will buy back its own shares worth a combined 10 trillion won (US$7.16 billion) over the next year as part of efforts to boost its shareholder value following a recent slide in its stock price. In the buyback plan approved by the board of directors, a combined 3 trillion won of shares will be bought back within three months starting Monday and continuing until Feb. 17, the company said in a statement. For the remaining 7 trillion won, the company will decid

MarketNov. 15, 2024

Court halts Yonsei University admissions process over exam leak

The Seoul Western District Court on Friday accepted an injunction filed by students and parents to suspend the validity of Yonsei University’s early admissions entrance exam in October, following allegations that exam questions were leaked prior to the test. The court ruled to “suspend the continuation of subsequent procedures” related to the early admissions exam until a ruling is made in a lawsuit demanding the exam be readministered. The decision effectively halts the announ

Social AffairsNov. 15, 2024

[Today’s K-pop] Ateez returns with 11th EP

Ateez rolled out its 11th EP, “Golden Hour: Part 2,” on Friday, along with the music video for main track “Ice on My Teeth.” Not afraid to push the limits, the single adds hip-hop to sophisticated, calm sounds of strings, demonstrating even those seemingly unlikely to match can coexist beautifully when truly appreciated. “We were so committed to move forward, we’ve never expressed pride in what journey we have made,” said Hongjoong, “and wanted to

K-popNov. 15, 2024

Suspended prison term puts opposition leader’s Assembly seat, candidacy at risk

Opposition leader Lee Jae-myung was handed a suspended one-year prison sentence Friday for allegedly making false statements during the 2022 presidential campaign -- a ruling that, if upheld, could cost him his parliamentary seat and derail his presidential ambitions. Lee, chairman of the main opposition Democratic Party of Korea and a prominent likely contender in South Korea’s 2027 presidential race, announced plans to appeal the ruling, saying the court’s conclusions were “n

PoliticsNov. 15, 2024

Seoul to stay committed to Paris climate pact through Trump’s 2nd term

The Yoon Suk Yeol administration will uphold its commitment to the Paris Climate Accord throughout Donald Trump’s second term, despite mounting global concerns that the US president-elect may once again withdraw his country from the agreement, according to the Environment Ministry. Son Ok-ju, deputy minister of the Environment Ministry’s Planning and Coordination Office, stated, “Even with the Trump administration’s stance toward the Paris Agreement, the international ord

Social AffairsNov. 15, 2024

Hanjin eyes bigger footing in the US fulfillment services market

Hanjin Logistics, an affiliate of South Korean airline-to-logistics conglomerate Hanjin Group, is ramping up efforts to improve its fulfillment services and attract more corporate customers seeking to enter the US market. Earlier this month, CEO Noh Sam-seok and Emily Cho, president and chief marketing officer, traveled to the US for meetings at the company's local headquarters as they plan to expand the logistics firm's fulfillment business on the US east coast, according to the compa

IndustryNov. 15, 2024

ZYX Technology inks partnership with Chonnam University to nurture tech talent

South Korean design software developer Zyx Technology announced Friday that it has signed a memorandum of understanding with Chonnam National University, aiming to foster tech talent and strengthen collaboration. Under the agreement, the company said it will provide academic support, including free access to cutting-edge design software and opportunities for joint research and development of artificial intelligence software. As a member of the Innobiz Association, Zyx Technology has developed a

IndustryNov. 15, 2024

Seoul’s bid for early Yoon-Trump meeting faces slim odds

South Korea’s bid to secure an early meeting between President Yoon Suk Yeol and US President-elect Donald Trump, leveraging Yoon’s trip to the Asia-Pacific Economic Cooperation and G-20 summits in South America, now appears unlikely, a senior presidential official in Seoul said. “Trump’s team has been informing all embassies that, with their focus on key appointments and domestic issues, meetings with foreign leaders are unlikely before the inauguration,” the presi

Foreign AffairsNov. 15, 2024

Man in his 70s airlifted 300 km to Jeju for treatment amid medical strike

A man in his 70s from Busan was airlifted 300 kilometers to Jeju Island for emergency treatment after swallowing a piece of medical equipment during dental implant surgery. According to Jeju National University Hospital on Thursday, the man was receiving an implant procedure in Busan around 4 p.m. last Friday when a dental tool – a screwdriver – entered his airway and became stuck in his bronchial tubes. Paramedics attempted to find a hospital in the Busan area for a bronchoscopy pro

Social AffairsNov. 15, 2024

Samsung, LG clean up at CES 2025 Innovation Awards

Korean tech giants Samsung Electronics and LG Electronics were recognized with a slew of prizes at the CES 2025 Innovation Awards for their newest products, ahead of the world’s largest tech trade show set to be held in Las Vegas in January. In this year’s program, Samsung won 29 awards, including four best of innovation products, while LG received 24 awards with three top innovation winners. The Consumer Technology Association organizes the annual competition honoring outstanding de

IndustryNov. 15, 2024

Seoul shares end nearly flat amid bargain hunting

Seoul shares closed nearly flat Friday as investors' bargain hunting limited declines amid lingering uncertainties, including a possible slowdown in US rate cuts. The local currency gained against the US dollar, trading at the 1,300 won level as of 3:30 p.m. for the first time in four days. The benchmark Korea Composite Stock Price Index edged down 2 points, or 0.08 percent, to close at 2,416.86. The main index briefly fell below the psychologically significant 2,400 level at one point. Tra

MarketNov. 15, 2024

Hyundai Motor appoints 1st foreign CEO

Hyundai Motor Group appointed Jose Munoz, global chief operating officer at Hyundai Motor Co., as the next CEO of the auto brand on Friday, marking the conglomerate’s first-ever appointment of a foreign leader. The appointment is to take effect on Jan. 1. Munoz, a native of Spain and a US citizen, joined the Korean automaker in 2019 and has served as president and global COO of Hyundai Motor Co. as well as president of Hyundai and Genesis Motor North America. “Through strengthening d

CompaniesNov. 15, 2024

Olafur Eliasson's new installation gives 'sense of presence' through standing still

Icelandic-Danish artist Olafur Eliasson unveiled his new work “Breathing earth sphere” on Friday in Sinan county in South Jeolla Province, South Korea, as part of the county’s public art project. Known for integrating natural phenomena with human sensory experiences by using elemental forces such as light, water, and air, Eliasson's new work resonates with his ongoing exploration of the natural world, particularly synthesizing the inherent characteristics of Dochodo, one o

Arts & DesignNov. 15, 2024

Registration for free Deoksugung concert to open Monday

Registration for a free classical concert at Deoksugung, featuring a local ensemble of a violinist, cellist and pianist, starts Monday. On Nov. 27, violinist Song Ji-won, cellist Lee Kyung-jun and pianist Son Jung-bum will present three works from Czech composer Antonin Dvorak’s -- Op. 11, Op. 68/5 and Op. 90 -- in a biannual music festival at the Joseon-era (1392-1910) palace’s Seokjo Hall, a Western-style neoclassical stone building completed in 1910. The musicians come from the Ku

Arts & DesignNov. 15, 2024

Performances of Korean heritage to take place in Argentina

Performances of traditional Korean music and dance will take place later this month in Argentina to reciprocate a tango performance by dancers from the South American nation last year in Korea. The National Intangible Heritage Center, run by the Korea Heritage Service, will host the performance “K-Intangible Heritage Festival: Noldagasena” twice at the Central Theater of Salta and once at the National Sarmiento Cultural Center in Buenos Aires on Nov. 16, 17 and 24. “Noldagasena

Arts & DesignNov. 15, 2024

Stray Kids to wrap up 2024 with ‘Skzhop Hiptape’

Stray Kids will adorn the end of the year with the release of their new album, “Skzhop Hiptape,” on Dec. 13. The group announced Friday via social media the upcoming release of the new album by unveiling its first teaser, showcasing graphic artwork. “Skzhop Hiptape” is a creative combination of the group’s initials with “hip-hop.” It suggests that the album will feature the type of hip-hop music that defines Stray Kids. The teaser clip shows two glowing

K-popNov. 15, 2024

BTS Jin releases 1st solo album ‘Happy’

Jin of BTS released his first solo album, “Happy,” on Friday. The album explores the journey of finding happiness and features themes of love, excitement, courage and positivity. Through the album, Jin describes himself as a "ray of sunshine," hoping listeners will find happiness through his music. “It’s meaningful to release a solo album. I hope that Army (the BTS fandom) enjoys it. I’d like for everyone who listens to this album to feel happy. This album

K-popNov. 15, 2024

Police bust $2.8b gambling ring that used deepfake video to lure gamblers

South Korean police have dismantled a massive online gambling ring worth 4 trillion won ($2.84 billion), apprehending 50 suspects accused of running the online operation since 2019 and employing deepfake technology to lure new users, according to the Ulsan Metropolitan Police Agency on Friday. According to police, out of 50 suspects, 13 have been arrested, including the website operator in his 40s. The remaining 37 have been forwarded to prosecutors. From October 2019 until March 2024, the 50 su

Social AffairsNov. 15, 2024

Will newly elected KMA chief bring ray of hope in breaking stalemate?

A week after a leadership change at Korea's largest doctors group, eyes are on whether the newly elected chief can break through a yearlong impasse and make progress in producing tangible results with the government, after the incoming leader pledged to respect junior doctors' and students' voices in handling the standoff. Drawing a line between himself and his controversy-ridden predecessor, who he says failed to protect the interests of the medical circle, Park Hyung-wook, who

Social AffairsNov. 15, 2024