Biden announces $8 billion in military aid for Ukraine

US President Joe Biden announced more than $8 billion in military assistance for Ukraine on Thursday to help Kyiv "win this war" against Russian invaders, using a visit by President Volodymyr Zelenskiy to make a major commitment. The aid includes the first shipment of a precision-guided glide bomb called the Joint Standoff Weapon, with a range of up to 81 miles. The medium-range missile gives Ukraine a major upgrade to the weapons it is using to strike Russian forces, allowing the Ukra

World NewsSept. 26, 2024

LG Display sells its China plant to TCL subsidiary for 2 tln won

LG Display Co., a major flat screen supplier, said Thursday it has sold its facilities in China to a subsidiary of Chinese tech giant TCL Group for 2 trillion won (US$1.5 billion) as part of its business reorganizing effort. In a regulatory filing, the company said it has signed an agreement to transfer its stake in its liquid-crystal display (LCD) panel and module factories in Guangzhou, China, to China Star Optoelectronics Technology, following approval from its board of directors. The deal is

IndustrySept. 26, 2024

Assembly rejects 6 bills vetoed by Yoon in revote

All six contentious bills vetoed by President Yoon Suk Yeol were automatically scrapped Thursday, failing to pass a parliamentary revote. The National Assembly voted down four broadcasting bills, aimed at reducing the government's clout over public broadcasters, as well as a bill on providing cash handouts to the entire population and the so-called "yellow envelope" pro-labor bill, during a plenary session. The bills were ultimately scrapped as they failed to gain the two-thirds s

PoliticsSept. 26, 2024

Seon meditation practitioners emphasize conflict resolution

Buddhist seon meditation practitioners said internalizing Buddhist teachings could help the world counter a polycrisis -- a web of multiple global threats to the safety and security of peoples and nations -- at a press conference Thursday in Seoul. The conference took place a day before the five-day Seon Meditation Summit kicks off in Seoul, as the Jogye Order of Korean Buddhism looks to promote the kind of meditation backed by the largest Buddhist sect in the country. “Both the Buddhist v

CultureSept. 26, 2024

Assembly passes bills to toughen punishment for deepfake sex crimes

The National Assembly on Thursday passed a total of 70 bipartisan bills, including legislation that imposes stricter punishments on people who possess and view deepfake pornography knowingly. The revision to the Act on Special Cases Concerning the Punishment, Etc. of Sexual Crimes, seeks to penalize those who possess, purchase, store or view deepfake porn content with up to three years in jail or a fine of up to 30 million won ($22,500). After debate, lawmakers from the ruling People Power Party

PoliticsSept. 26, 2024

Host of Miss Korea apologizes for 'inappropriate question' about deepfake

The host company of the 68th annual Miss Korea competition issued an official apology Thursday, concerning a question for the finalists about videos using deepfake technology. During this year's event in Seoul on Tuesday, 15 finalists had to answer various pre-prepared questions. One of the questions was, "If the image of myself in a deepfake video looks more attractive (than myself), how could I reduce the gap (between the image) and my actual self?" "It was wrong for us as

Social AffairsSept. 26, 2024

Kang Ik-joong's monumental 'Hangeul Wall' unveiled at Korean Cultural Center New York

A 22-meter high wall with 20,000 colorful blocks of Korean letters, or Hangeul, was unveiled Wednesday at the newly opened Korean Cultural Center New York, on E. 32nd Street in Manhattan. The monumental work was created by New York-based artist Kang Ik-joong, known for his iconic works of Hangeul blocks. Kang’s installation “Hangeul Wall: Things I Love to Talk About” was created in collaboration with participants from more than 50 countries around the world. Some 7,000 submissi

Arts & DesignSept. 26, 2024

SK On offers voluntary retirement amid losses

SK On, the battery manufacturing subsidiary of SK Group, has announced the launch of a voluntary retirement program as part of its efforts to enhance workforce efficiency and to turn a profit by the end of this year. In a statement released Thursday, SK On outlined two key initiatives: a special leave program aimed at fostering employee development and a voluntary departure program for workers considering early retirement. These measures come as the company navigates a slowdown in the EV industr

CompaniesSept. 26, 2024

Boy's emergency medical treatment delayed 2 hours due to staff shortage

Emergency rescue operators in Busan said Thursday that an ambulance carrying a middle school student had been turned away from multiple hospitals due to a lack of medical staff, causing a delay of treatment for the boy. The mother of the 15-year-old living in Busan called the 119 emergency service when her son suffered what turned out to be acute appendicitis at around 7:30 p.m. on Monday, according to the Busan Metropolitan City Fire and Disaster Headquarters. But the university hospital that

Social AffairsSept. 26, 2024

'Shaman says president will die,' caller warns

The South Korean police said Thursday it is investigating a man who called a ruling party lawmaker's office to say President Yoon Suk Yeol will die on Oct. 26. It was revealed that the man had said so based on a prophecy made by a local shaman. The man called the office of Rep. Ihn Yo-han of the ruling People Power Party Wednesday afternoon, saying, "The president will pass away on Oct. 26, so they should reinforce protection for him," according to Seoul Yeongdeungpo Police Stat

Social AffairsSept. 26, 2024

Eximbank highlights ESG efforts for global expansion

The Export-Import Bank of Korea stressed the need for companies to comply with environmental, social and governance, or ESG, regulations when expanding overseas through a seminar held Thursday. The seminar was held to share the latest trends in ESG regulations and discuss Korean companies’ response to disruptions in the global supply chain, the policy lender explained. It was held in partnership with international consultancy firm Environmental Resources Management Korea and leading local

IndustrySept. 26, 2024

SK Broadband unveils AI-powered IPTV service

SK Broadband said Thursday it is introducing an internet protocol television service using artificial intelligence to offer more tailored content to users. The internet service provider's IPTV platform B tv newly applies SK Telecom's AI assistant service A., allowing users to easily find desired content beyond IPTV to include streaming services, YouTube and the web through voice controls. At Thursday’s event, SK unveiled the AI 4 vision, an AI set-top box equipped with the B tv A

IndustrySept. 26, 2024

[Career Compass] ‘Respect is earned, not given’

I interviewed Eun-Mi Chae, the former CEO of FedEx Korea and currently an independent director of SKC. She broke new ground as the first Korean female CEO in the express transportation industry, successfully leading the company for 16 years. With over 35 years of experience, Chae is a pioneer, an exceptional communicator and an inspiring role model. Q. What was your mindset when you were first appointed as CEO? A. When I was appointed CEO of FedEx Korea, two key pieces of advice shaped my leader

ViewpointsSept. 26, 2024

[Today’s K-pop] NCT’s Jaehyun to enlist in November: report

Jaehyun of NCT will enlist on Nov. 4 and serve his mandatory military duty, according to a local media report Thursday. He will do so as a member of the Army band until his discharge in May 2026. Label SM Entertainment confirmed the news adding that he applied for the military band and was accepted. The idol debuted as a member of NCT and will be the second to enlist after Taeyong who has been enlisted as part of the naval band since April. He released his first solo album “J” last

K-popSept. 26, 2024

Seoul shares spike nearly 3% on US rate cut hopes

Seoul shares ended nearly 3 percent higher Thursday as tech stocks advanced, with hopes for additional rate cuts by the Federal Reserve lifting investor sentiment. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index jumped 2.9 percent, or 75.25 points, to 2,571.57. Trading volume was moderate at 317.46 million shares worth 11.4 trillion won ($8.6 billion), with gainers far outnumbering winners 747 to 140. Overnight, US stocks ended mixed. The Dow Jones Indu

MarketSept. 26, 2024

SK hynix outpaces Samsung, Micron with more powerful AI chips

SK hynix, the world's second-largest memory chip-maker, said Thursday it has started mass production of the world’s first 12-layer high bandwidth memory chips, solidifying its competitive edge over its global rivals -- Samsung Electronics and Micron Technology. The new 36-gigabit 12-layer HBM3E chip will be supplied to its customers, including US AI chip giant Nvidia, within the year, about six months after delivering an 8-layer HBM3E product to customers for the first time in the ind

TechnologySept. 26, 2024

Korea to face another massive shortfall in tax revenue

The South Korean government is expected to see another significant shortfall in tax revenue this year, due mainly to the sluggish semiconductors industry and the real estate market slump, according to the Ministry of Economy and Finance on Thursday. The government is forecast to collect 337.7 trillion won ($254 billion) this year, 29.6 trillion won -- 8.1 percent -- less than the ministry's earlier forecast when planning the 2024 budget. This year’s projection is 6.4 trillion won unde

EconomySept. 26, 2024

Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze

South Korea and Japan are poised to hold talks on the joint development of untapped natural resources, including petroleum and underground minerals, beneath the continental shelf in the East China Sea for the first time since 1985, breaking nearly 40 years of stalled negotiations. The South Korea-Japan Joint Commission, a platform for consultations on the implementation of their bilateral joint development agreement, is set to hold its sixth meeting Friday in Tokyo, the South Korean Foreign Mini

Foreign AffairsSept. 26, 2024

Power of nostalgia brings K-pop legends back together

Several iconic K-pop groups, once chart-toppers both in Korea and abroad, are making long-awaited comebacks after years of hiatus. Music insiders attribute this trend to the resurgence of retro pop, which has reignited fans' desire to see their favorite K-pop idols reunite. Many former top K-pop bands have either paused their activities or disbanded for reasons such as legal disputes, contract expirations, or simply by choice, and some of the members pursue their solo career. However, even

K-popSept. 26, 2024

‘Dirty Money’ follows ironic situation of detectives on the run

Kim Min-soo, one of the writers behind crime noir films “The Merciless” (2017) and “Kingmaker” (2022), will release his debut crime flick “Dirty Money” on Oct. 17. “Dirty Money” revolves around detectives Myung-deuk (Jung Woo) and Dong-hyuk (Kim Dae-myung), who become involved with tainted money and make the choice to run away with it, dreaming of committing a perfect crime. Seung-chan (Park Byung-eun), a cynical team leader of an investigative squ

FilmSept. 26, 2024