MBK defends Korea Zinc bid, refutes Chinese capital accusation

Seoul-based private equity house MBK Partners said Thursday it hopes Korea Zinc will be acquired by a Korean conglomerate, not a Chinese one, if its buyout attempt of the world’s biggest zinc refiner turns out to be a successful venture. “MBK Partners is not a foreign fund. We do not have any plan to sell Korea Zinc to Chinese capital,” MBK Partners Vice Chairman Kim Kwang-il said at a press conference held in central Seoul on Thursday. The press event was held to shrug off the

IndustrySept. 19, 2024

Heavy rain to fall nationwide over weekend, but warmer fall expected

Rainfall reaching up to 250 millimeters will fall nationwide from Friday afternoon, bringing an end to the prolonged summer weather in South Korea, said the Korea Meteorological Administration on Thursday. The atmosphere above the Korean Peninsula was covered by the Tibetan and North Pacific high-pressure systems, resulting in unprecedented heat waves and tropical nights during Chuseok, Korea’s traditional mid-autumn festival to wish for a good harvest. According to the KMA, the continued

Social AffairsSept. 19, 2024

GS Caltex supplies eco-friendly fuel to Japan’s Narita Airport

South Korean oil refiner GS Caltex said Thursday that it has supplied some 5,000 kiloliters of sustainable aviation fuel to Japan’s Narita International Airport, as part of its efforts to expand its carbon reduction business. The fuel was produced by GS Caltex by blending conventional aviation fuel with sustainable aviation fuel provided by Neste, a leading biofuel producer in Finland. The supply deal was facilitated by Japanese trading company Itochu Narita Airport plans to sell the fuel

CompaniesSept. 19, 2024

Underdog boy bands take on ambitious survival journey

Seven ambitious boy bands are off to a fierce battle. The New Six, 8Turn, Oneus, Younite, Cravity, Tempest and the project team The Crew One, which consists of the boy groups ATBO and Just B., are competing on Mnet's survival program "Road to Kingdom: Ace of Ace," starting Thursday night. Taemin of SHINee will host the show. “We felt the pressure to surpass our performances in Season 1, but we overcame it with even greater passion. Since we believe it’s a K-pop idol&#

TelevisionSept. 19, 2024

Korean hospitals get cancer recognition, but Seoul dominates

Hospitals in South Korea, recognized among the world's best, are predominantly concentrated in the Seoul metropolitan area, showing a significant disparity in healthcare accessibility and quality between the capital area and the rest. According to Newsweek's World's Best Specialized Hospitals 2025 rankings, seven South Korean medical institutions have secured spots in the top 100 for cancer treatment or oncology, which is a subspecialty of medicine dedicated to the investigation,

Social AffairsSept. 19, 2024

Samsung under pressure after Intel's foundry spin-off: analysts

Intel, once the world’s leader in both designing and supplying advanced chips, has decided to spin off its chip manufacturing business in part of the efforts to recover from massive losses. For Samsung Electronics, the rival’s spin-off could pose a threat if successful, according to experts here on Thursday. At the same time, Intel’s decision is raising a strategic question for Samsung on how to stay competitive across all fronts of chip design and manufacturing as an integrate

IndustrySept. 19, 2024

YouTuber under fire for consoling former singer accused of bullying

One of Korea's most beloved YouTubers Kwak Joon-bin is facing uncertain career prospects following a controversy sparked by his words of comfort to Lee Na-eun -- a member of former K-pop group April who has failed to dispel suspicions she bullied a fellow bandmate. As the winner of "World Dice Tour 2," Kwak is scheduled to appear in a spin-off series as he travels around Ulleung Island, with the premiere set for Oct. 19. Cable channel ENA, which is scheduled to broadcast the spin-

TelevisionSept. 19, 2024

Digital system helps victims access information on cases

The Ministry of Justice announced Thursday the official launch of an electronic system that offers victims of criminal cases and authorities investigating the cases unlimited access to case information. This digitalized criminal procedure system allows efficient viewing of the case details and ensures confidentiality and operational efficiency, according to the Justice Ministry. Through this online portal, named "Next-Generation Korea Information System of Criminal Justice Service," in

Social AffairsSept. 19, 2024

Samsung CEO introduces ‘bold growth’ as new target

Samsung Electronics Vice Chairman and co-CEO Han Jong-hee has introduced “bold growth” as the new target to overcome the company's multifaceted crisis and take a leap toward a future-oriented business structure. “We have worked hard to lay the foundation for 'One Samsung' and to enhance synergy across different business units,” the CEO said at the tech giant’s Device eXperience division’s internal event recently held in Suwon, Gyeonggi Province,

IndustrySept. 19, 2024

Hyundai Glovis to gain momentum as global car carrier shortage persists

Hyundai Glovis, South Korea's sole provider of pure car and truck carriers, is expected to increase its global presence as charter rates for automobile-carrying vessels continue to remain high due to a persistent shortage of ships in the global maritime transportation market. According to data from Clarksons Research on Thursday, a UK-based shipping market analysis firm, the average daily charter rate for a 6,500-Car Equivalent Unit (CEU) carrier in the third quarter of this year reached ap

IndustrySept. 19, 2024

Bill proposes stricter limits on work hours for child idols, actors

A bill has been introduced to lower the weekly working hours for underage entertainers, as related concerns such as young entertainers' health issues remain unaddressed. On Sept. 11, Rep. Kim Jun-hyuk of the main opposition Democratic Party of Korea proposed a revision to the Popular Culture and Arts Industry Development Act to reduce the working hours of juveniles working in cultural industries, and apply different working hour caps for different ages. The revision would cap weekly working

PoliticsSept. 19, 2024

LG Electronics partners with Ricoh to bolster B2B push

LG Electronics announced a new partnership with Ricoh, a leading global office solutions company, on Thursday, aiming to strengthen its competitiveness in the global business-to-business market. The memorandum of understanding, signed by Ricoh's President of digital services Takahiro Irisa and Paik Ki-mun, head of LG Electronics' information display business division, focuses on exploring new digital transformation services and expanding their B2B offerings. “We will strengthen

CompaniesSept. 19, 2024

NK newspaper 'unusually' silent on new missile tests: Seoul

While North Korea's state-run Korean Central News Agency, primarily targeting international audiences, reported missile test launches under Kim Jong-un's supervision on Thursday, the country's primary domestic newspaper unusually omitted the coverage. Kim supervised the tests of tactical ballistic missiles fitted with "super-large" warheads and modified cruise missiles on Wednesday, according to the KCNA. But the Rodong Sinmun, North Korea’s most widely circulated

North KoreaSept. 19, 2024

[Photo news] Hana opens foreign customer center

Hana Bank CEO Lee Seung-lyul (fifth from left) and Pyeongtaek B constituency Rep. Kim Hyun-jeong (sixth from left) pose for a photo at the opening ceremony of Pyeongtaek Foreign Customer Center on Thursday. The center aims to improve access to financial services for foreign workers in South Gyeonggi Province, including Pyeongtaek, Hwaseong and Anseong. The new branch will offer customer services like AI-based real-time translation and bank information kiosks. Additionally, Hana Bank’s 16 b

IndustrySept. 19, 2024

[Today’s K-pop] Illit amasses 400m Spotify streams with ‘Magnetic’ in record time

Illit generated 400 million streams on Spotify with its debut song “Magnetic,” agency Belift Lab said Thursday citing the platform. The rookie group achieved the feat in 176 days, the shortest time for a debut single from a K-pop band. Illit has already set Spotify records for a K-pop girl group when reaching the 100, 200 and 300 million play milestones. “Magnetic” fronted the group's first EP “Super Real Me” and swept music charts at home and abroad, m

K-popSept. 19, 2024

Yoon to meet Han after Czech trip to discuss medical reform

President Yoon Suk Yeol will meet the ruling People Power Party leadership next week to seek a breakthrough in the ongoing stalemate with the medical circle over the expansion plan, his office said Thursday. The meeting, set for Tuesday, will be an "occasion for broad communication" where the presidential office and the party's leadership will come together "to review the public sentiment" during the Chuseok holiday and discuss reform agendas, including medical reforms

PoliticsSept. 19, 2024

Georgia Wine Festival to toast Georgian wine’s growing popularity in Korea

The Georgia Wine Festival, showcasing exceptional wines from the country where the oldest evidence of winemaking was discovered, will take place on Sept. 24, according to Wine 21, the event organizer, Thursday. The festival, hosted by the Georgia National Wine Agency and sponsored by the Embassy of Georgia in Korea, will feature around 90 wines from 24 Georgian wineries. Attendees will have the opportunity to explore a selection of top-quality Georgian wines including made of Georgian grape vari

FoodSept. 19, 2024

Taihan Cable wins W90b cable system supply deal in California

South Korean electric wire and cable maker Taihan Cable & Solution said Thursday it has secured a 90 billion-won ($67.5 million) cable system supply deal in the US. The company has been selected as supplier to US-based LS Power Grid California for 320-kilovolt voltage source converters used in high-voltage direct-current (HVDC) transmission and a 500-kilovolt heating, ventilation and air conditioning (HVAC) power systems. Making its first foray into North America’s high-capacity, long-

IndustrySept. 19, 2024

Daewoong to lead homegrown hyperlipidemia therapy

Daewoong Group announced Thursday that three of its subsidiaries will participate in a government-led project aimed at localizing raw materials for hyperlipidemia treatments amid a growing number of patients suffering from the disease here. Daewoong Pharmaceutical, Daewoong Bio and Daewoong Therapeutics were picked as primary organizers for the 2024 Material and Parts Technology Development Project, an over four year-long scheme initiated by the Ministry of Trade, Industry and Energy. Currently,

IndustrySept. 19, 2024

Man signaling car breakdown run over by distracted driver

The South Korean police said Thursday that a man, who had been signaling to other drivers to go around his car after it broke down in a tunnel, was run over and killed by another driver who was temporarily distracted and did not see him. Officials are investigating a 20-something-year-old man for causing the accident at 4 a.m. on Wednesday, which fatally injured a man in his 40s, whose car had broken down. The younger man told investigators that he had been occupied with his smartphone's

Social AffairsSept. 19, 2024