Westinghouse interrupts Korea's Czech nuclear deal

Korea’s multibillion-dollar deal to build nuclear plants in the Czech Republic has been put at risk with US-based Westinghouse Electric Co. filing an appeal with the Czech's antimonopoly watchdog Tuesday, challenging Korea Hydro & Nuclear Power's position as the preferred bidder. "KHNP’s APR1000 and APR1400 plant designs utilize Westinghouse-licensed Generation II System 80 technology," Westinghouse said in its press release. "KHNP neither owns the underlying

IndustryAug. 27, 2024

Trump presidency to boost Korea-US chip alliance: Heritage Foundation VP

Derrick Morgan, executive vice president of the US think tank Heritage Foundation, said he expected that economic cooperation between South Korea and the US would deepen, focusing on shipbuilding and semiconductors, if Donald Trump wins the 2024 US presidential race. “The US and the rest of the world is overly dependent on Taiwan for semiconductors. … The innovation coming out of Korea these days is amazing and should be applauded,” he said during an event hosted by the Kore

EconomyAug. 27, 2024

SK Innovation, E&S to merge into W100tr energy giant

SK Innovation and SK E&S, two major energy affiliates of the country's second-largest conglomerate SK Group, received shareholders’ approval for their merger on Monday, paving the way for the launch of an integrated entity with assets over 100 trillion won ($75 billion). Some 85.76 percent of the attendees at SK Innovation's extraordinary general shareholders meeting voted in favor of the merger. The merger was approved by SK E&S shareholders, too. SK Inc., the group&rsqu

IndustryAug. 27, 2024

‘I hated being asked where I’m from,’ ex-North Korean diplomat tells Seoul lawmakers

Ri Il-kyu, the highest-ranking North Korean diplomat to defect to South Korea since 2016, says he “felt humiliated” every time he had to reveal which Korea he was from when he was serving overseas missions. Speaking at a National Assembly event hosted by ruling People Power Party lawmakers on Monday, he said North Korean diplomats “absolutely hate being asked which country they are from.” Ri served as a counselor for political affairs at the North Korean embassy based in

PoliticsAug. 27, 2024

[From the Scene] Seon meditation front and center for Jogye leader

GONGJU, South Chungcheong Province -- Templestay programs are usually light on message, focusing instead on enabling participants to experience Buddhist routines like prostrations and early morning chants. The latest templestay program held from Saturday to Sunday capped an eight-week teaching by the Ven. Jinwoo on practicing seon meditation. The president of the Jogye Order of Korean Buddhism, the largest Buddhist sect here, rallied participants to not only follow the Jogye style of meditation,

CultureAug. 27, 2024

80% of young Korean workers turn to AI for solutions: report

A recent report showed that artificial intelligence technology is a go-to tool in the workplace for an overwhelming majority of young adults in South Korea, who favor AI at a far greater rate than their counterparts in other countries. Samsung Electronics released "The 2024 AI-Preneur Effect" looking into how Gen Z is using cutting-edge technology to boost their careers, and it showed 80 percent of young people in Korea are dependent on AI as a go-to resource. Following the Koreans wer

TechnologyAug. 27, 2024

Fubon Hyundai Life solidifies foothold in Korea

Fubon Hyundai Life Insurance, the Korean unit of Taiwan's Fubon Financial Group, is making steady progress in solidifying its foothold in South Korea under the robust leadership of CEO Lee Jae-won. Establishing a presence in Korea is no easy task for a minor foreign insurer, yet Fubon Hyundai Life has been on an upward growth trajectory as it approaches its sixth anniversary next month. Notably, the company has effectively shifted from a sole focus on retirement pensions to offering more di

IndustryAug. 27, 2024

Crisis in medical system builds as hospital workers plan walkout

Amid a prolonged medical standoff, concerns are again looming large as more than 22,000 unionized hospital workers plan to strike beginning Thursday if the ongoing arbitration by the labor relations committee fails to reach an agreement on a pay raise and the normalization of hospital operations. The planned walkout comes after 91 percent of the Korean Health and Medical Workers' Union -- which has some 30,000 nurses, caregivers and other medical workers at 61 hospitals as members -- vote

Social AffairsAug. 27, 2024

JB Financial Group's Kwangju Bank, Toss Bank launch joint loan product

Kwangu Bank, a South Korean bank affiliated with JB Financial Group, announced Tuesday the company has teamed up with Toss Bank, the internet-only lender, to launch the nation's first joint loan product. Kwangju Bank expects synergy by combining its know-how about private loans with Toss Bank’s extensive mobile platform. The new loan product, called Together Loan, also earned recognition as an innovative financial service from the Financial Services Commission in June. Customers can a

IndustryAug. 27, 2024

LG CNS to nurture DX talent in partnership with SNU

Korean IT service provider LG CNS said Tuesday the company has signed a memorandum of understanding with Seoul National University to nurture tech talents specialized in digital transformation or DX. Under the partnership, LG CNS will set up new talent training programs for SNU's master course in industrial engineering. The areas of study include mathematical optimization, artificial intelligence, big data and business consulting. The company will select top performers in the course next ye

IndustryAug. 27, 2024

[Pressure points] Should parents flaunt their children's college achievements?

In South Korea, where getting into a top college is often seen as the golden ticket to success, a simple bumper sticker bearing an elite school's logo has ignited a fiery debate. The debate centers around the nation's undisputed top school, Seoul National University, and its "proud parent" bumper stickers distributed to parents of its students. An online post criticizing the SNU stickers as elitist quickly went viral, amassing millions of views and sparking heated discussions

Hashtag KoreaAug. 27, 2024

[Photo News] Supporting Paralympians

From left: Boccia players from South Korea Kang Sun-hee and Jeong So-yeong, Kurt Busk, a wheelchair rugby player from Denmark, International Paralympic Committee President Andrew Parsons and Jordan Luce, a wheelchair basketball player from France, pose for a photo at Samsung Electronics' pop-up zone at the Olympic and Paralympic Village in Paris ahead of the 2024 Paralympic Games that kick off Wednesday in the French capital. Samsung has been the official Olympic partner for 18 years. The t

IndustryAug. 27, 2024

Half of S. Koreans have chronic anger issues: study

About half of the South Korean population seems to be suffering from long-term repressed anger issues, with nearly 1 in 10 being severe cases, a local study revealed Tuesday indicated. You Myoung-soon, a professor in Seoul National University's Graduate School of Public Health, conducted a study on the social and psychological well-being of Korean nationals, based on the survey her team conducted of 1,024 adults June 12-14. The team asked the respondents to rank their level of pent-up ang

Social AffairsAug. 27, 2024

Samsung, Qualcomm team up for car chips

Samsung Electronics, the world's No. 1 memory chipmaker, said Tuesday that it has partnered with US chip giant Qualcomm Technologies to produce advanced chips for diverse automotive solutions. The Korean tech giant said its latest automotive LPDDR4X memory has been successfully qualified for use with Qualcomm’s Snapdragon Digital Chassis. The product is set to be applied in premium in-vehicle infotainment and advanced driver-assistance systems. Samsung’s automotive LPDDR4X quali

TechnologyAug. 27, 2024

[Photo News] Hana global workshop

Hana Financial Group hosted a two-day workshop starting Monday at the Hana Global Campus in Incheon, focusing on global strategies and corporate culture to enhance employee capabilities and reinforce the company's commitment to customer-centric service. The seminar was attended by 29 employees from 19 countries. The picture shows Hana Financial Group Vice President Lee Eun-hyung (center) with the global participants. (Hana Financial Group)

IndustryAug. 27, 2024

Another tight year ahead for Korea in 2025 with 3.2% budget increase

The Ministry of Economy and Finance has proposed a 677.4 trillion won ($509.2 billion) budget for next year, focusing on fiscal consolidation while bolstering public welfare and investing in strategic emerging industries. The budget, proposed by the finance ministry and endorsed by the Cabinet on Tuesday, represents a 3.2 percent hike from this year, reflecting the government's commitment to spending control and improved fiscal health. "Once known for its strong fiscal soundness, Korea

EconomyAug. 27, 2024

Christopher and Lee Young-ji to present collaboration

Danish singer-songwriter Christopher and Korean rapper Lee Young-ji are set to release their new song "Trouble" in September. Christopher revealed the collaboration news during his solo concert, to which he had invited Lee Young-ji as a guest, held Sunday at Jamsil Indoor Stadium in Seoul. The two first met in 2022 on Lee Young-ji's YouTube variety show "Nothing Much Prepared." Their candid and humorous conversation garnered attention and the two have maintained their co

PerformanceAug. 27, 2024

Presidential office rules out bringing in foreign doctors

A senior official of the presidential office said Monday that the government was not considering bringing in foreign doctors to alleviate the medical staffing shortage exacerbated by an ongoing walkout of trainee doctors. The officials said on condition of anonymity that Seoul "is not immediately considering dealing with the medical staff shortage by deploying foreign physicians." The comment came as the official was talking about ongoing disruptions in emergency medical centers due to

PoliticsAug. 27, 2024

Seoul Metro to replace 3 removed Dokdo models with video displays

After stirring controversy by removing models of the Dokdo islets from three of Seoul subway stations over the past few months, Seoul Metro said Tuesday that it has decided to install TVs in the stations that will play promotional videos of the South Korean islets. According to the subway operator which is owned by the Seoul Metropolitan Government, the videos will be played at the wall-mounted TVs that will be installed at Jamsil Station, Anguk Station and Gwanghwamun Station by early September

Social AffairsAug. 27, 2024

Zerobaseone ready to spread positive energy with ‘Cinema Paradise’

A happy ending awaits everyone after bad things happen: This is the message that K-pop rookie group Zerobaseone wants to deliver through "Cinema Paradise," its fourth EP released Monday. “Our album is led by the title track ‘Good So Bad’ which is a song that honestly expresses the feeling of falling deeply in love. It's also about being afraid of losing a bittersweet love,” said Zhang Hao of Zerobaseone during a press conference Monday in Seoul. The lead tr

K-popAug. 27, 2024