Samsung Electro-Mechanics to boost sales of high-end chip substrates

Samsung Electro-Mechanics, the electronic parts manufacturing affiliate of Samsung Electronics, said Sunday it will ramp up the sales portion of high-end flip chip ball grid array (FCBGA) substrates for servers and artificial intelligence to over 50 percent by 2026. FCBGA is a semiconductor package substrate applied to high-performance semiconductors, such as central processing units and graphic processing units for servers and PCs. It can be used in various applications requiring high-performan

IndustryAug. 25, 2024

Korea's 'value-up' efforts stall on 0.7% corporate participation

Nearly three months after the government launched the "Corporate Value-up Program" in May, participation by South Korean companies remains minimal. As of Friday, just eight companies had released value enhancement disclosures, representing a mere 0.3 percent of the 2,585 firms listed on the Kospi and Kosdaq, according to Korea Exchange data. Including the 10 firms that have preannounced disclosures, just 0.7 percent have joined the program. The "value-up" initiative, rolled o

EconomyAug. 25, 2024

[Advertorial] Eximbank, LS Cable to bolster supply chain for rare-earth magnets

The state-run Export-Import Bank of Korea, or Eximbank, on Friday signed a business agreement with the nation's leading cable manufacturer, LS Cable & System, and its Asia-focused subsidiary, LS Eco Energy, to support building a stable supply chain for rare-earth permanent magnets, a key component for electric vehicles and turbines. Under the agreement, the three parties will share business information related to rare-earth permanent magnets and other electric drive system projects and

IndustryAug. 25, 2024

Renault Grand Koleos boasts extensive safety features

Renault Korea’s Grand Koleos stands out as a mid-size hybrid sport utility vehicle with extensive safety features, including numerous advanced driving assistance systems and high-strength materials. This vehicle has gained attention in the Korean market since its June debut, particularly for its robust safety features, which have become increasingly important to consumers amidst rising concerns over road safety. The Grand Koleos comes in three trims: Techno, Iconic and Esprit Alpine. Even

MobilityAug. 25, 2024

Frequent hotel fires here point to lack of sprinklers

Following Thursday’s hotel fire in Bucheon, Gyeonggi Province, which claimed seven lives and injured 12 people, concerns have been raised about the lack of fire safety measures in accommodations here. According to the National Fire Agency on Sunday, a total of 1,843 fires occurred at accommodation facilities between 2019 and 2023. These fires resulted in 32 deaths and 355 injuries. By type of lodging, motels had the most fires, with 645 incidents, accounting for 35 percent of the total.

Social AffairsAug. 25, 2024

Samsung, LG to unveil new AI-powered home appliances at IFA 2024 in Berlin

South Korean tech giants Samsung Electronics Co. and LG Electronics Inc. are planning to showcase various new artificial intelligence-powered home appliances at the IFA 2024 home electronics show in Berlin next month, industry sources said Sunday. Samsung will present a range of products, including the Bespoke AI Combo, an all-in-one washer-dryer; the Bespoke AI Family Hub, a premium refrigerator product; and the Bespoke AI Steam, a new robot vacuum cleaner product. The company will also showcas

CompaniesAug. 25, 2024

National, household debt surpasses 3,000 tr won amid lower state revenue

The combined debt of the government and households in South Korea has surpassed 3,000 trillion won ($2.26 trillion) for the first time, driven by lower tax revenue, increased bond issuance and aggressive borrowing from households for real estate investments, government data showed Sunday. According to data from the finance ministry and the central bank, the country's combined national debt and household debt reached a record 3,042 trillion won as of the end of the second quarter. This amoun

EconomyAug. 25, 2024

Presidential office says discussions with US taking place over nuclear plant project in Czech Republic

The South Korean presidential office said Saturday it is in close discussions with the US government to resolve a dispute between the two countries' companies over a nuclear power plant construction project in the Czech Republic. "We are in talks with the US government through various channels to smoothly resolve the dispute," an official at the presidential office said, referring to the conflict between the Korea Hydro & Nuclear Power Co. and American energy firm Westinghouse

Foreign AffairsAug. 24, 2024

[What to see] Galleries gearing up for upcoming Frieze Seoul

As Frieze Seoul approaches, galleries are bustling with activity as they prepare to showcase their works to art enthusiasts at the annual art fair, which runs from September 4 to 7 this year. The nation's art scene is entering festive mode, with many exhibitions slated to open at the end of August. Notable examples of galleries embracing this celebratory atmosphere with their exhibitions, include Gallery Baton and Lehmann Maupin in Hannam-dong and Tang Contemporary Art Seoul in Gangnam. Dok

Arts & DesignAug. 24, 2024

[Weekender] Art as more than propaganda: Meaning of culture and art transforms for North Korean defectors

Park Sang-young, the founder and principal of Set Net School for North Koreans resettling in South Korea, will be stepping down after 20 years. "Set" and "net" mean numbers three and four, respectively, in Korean. The school's name signifies that it serves as a continuation for North Korean defectors who have completed the three-month educational program at the government-run Hana Dul (One, Two) School. While several organizations offer alternative education programs f

CultureAug. 24, 2024

Travel essay bridges gap between Korea and foreign audiences with unique cultural insights

In Korea, the choice of alcohol can carry subtle social meanings. Saying, "Let's grab a beer," and, "Let's have some soju," conveys different vibes, according to medical doctor and journalist Park Jae-young. Inviting someone for a beer typically means, "Let's hang out," or, "I have something to talk about, but it's nothing too serious." On the other hand, asking someone to have soju can suggest, "I have something personal to share,

BooksAug. 24, 2024

Rise of empowered women on Korean variety shows

Korean audiences have been thrilled by wrestling athlete Jang Eun-sil pushing a massive boat with burly men in "Physical: 100," female Korean police officers, firefighters and soldiers competing in the reality competition series "Siren: Survive the Island," as well as female celebrities passionately participating in soccer matches in "Kick a Goal," in recent years. These shows are among the popular women-led Korean variety shows -- including "Unpretty Rapstar,&

TelevisionAug. 24, 2024

KTO launches Korea Dulle Trail campaign

The Korea Tourism Organization announced that a special campaign aimed at promoting the Korea Dulle Trail will run through Nov. 30, offering gifts, mobile certificates and more. The Korea Dulle Trail is a 4,500-kilometer walking trail that circles South Korea, including its east, west and south coasts and the border area of the Demilitarized Zone. Hoping to satisfy local and overseas trekking enthusiasts who wish to discover charms of South Korea with their feet firmly on the ground, the trail w

CultureAug. 24, 2024

Hurdles stopping Koreans from getting married? Money, among other things

A recent survey indicated that the majority of single people in South Korea would like to get married, but also showed concerns over various issues, including finances and child care. Lifeplus FemTech Research Institute, an affiliate of Hanwha Insurance, conducted a survey on what unmarried men and women in the Greater Seoul area -- Seoul, Incheon and Gyeonggi Province -- thought about marriage. Of the 1,000 people between ages 25 and 39 who participated in the survey, 79 percent of men and 63

Social AffairsAug. 24, 2024

5 day laborers, including 3 Chinese nationals, killed in traffic accident

Five day laborers, including three Chinese nationals, were killed in a traffic accident in Ansan on Saturday while heading to a worksite, local authorities said. The accident occurred in Ansan, about 30 kilometers south of Seoul, at around 5:45 a.m., while the victims were heading to a worksite in a van, according to Gyeonggi Province fire services. The van carrying the victims collided with a bus and hit a passenger car before coming to a stop, resulting in a total of 14 casualties. The five la

Social AffairsAug. 24, 2024

Health care workers approve strike over crippled medical system, pay raise

A nationwide union of nurses and medical workers said Saturday that their members have voted to launch a strike next week, calling for a pay raise and the normalization of the crippled medical system amid a prolonged walkout by trainee doctors, its officials said Saturday. The Korean Health and Medical Workers' Union, which has some 30,000 nurses and medical workers at 61 hospitals as members, said more than 91 percent of its members supported the strike plan, according to the officials. If

Social AffairsAug. 24, 2024

Biz leaders to accompany President Yoon's Czech visit next month

A group of business leaders, including Samsung Electronics Chairman Lee Jae-yong, will accompany President Yoon Suk Yeol on his visit to the Czech Republic next month, industry sources said Saturday. Yoon is arranging the visit to the Czech Republic to deepen bilateral economic ties after the European country selected a South Korean consortium in July for a major nuclear plant project. The South Korean consortium led by Korea Hydro & Nuclear Power was named the preferred bidder for the Czech

Foreign AffairsAug. 24, 2024

Seoul suffers record 37th tropical night this summer

Seoul has posted its 37th tropical night this summer, the most in the city's history, the state weather agency said Saturday. Seoul experienced yet another tropical night phenomenon overnight, setting the highest number in a single year since modern meteorological observation began in the city in 1907, the Korea Meteorological Administration (KMA) said. A tropical night refers to a phenomenon when the nighttime temperatures stay above 25 degrees Celsius from 6:01 p.m. to 9 a.m. the followin

Social AffairsAug. 24, 2024

Powell at Jackson Hole: 'The time has come' for the Fed to soon begin reducing interest rates

JACKSON, Wyoming (AP) — With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when rate cuts would begin or how large they might be, but the Fed is widely expected to announce a modest quarter-point cut in its benchmark rate when it meets in mid-September. “The time has come for policy to adjust," Powell said in his keynot

World BusinessAug. 24, 2024

N. Korea slams US nuclear strategy, vows to build up nuclear arms

North Korea on Saturday strongly lashed out at a revised US nuclear strategy plan, vowing to further strengthen its nuclear capability. Earlier this week, The New York Times reported that President Joe Biden approved the revised strategy in March this year to focus on China's growing nuclear threats and prepare for possible coordinated nuclear challenges from North Korea, China and Russia. Biden's approval of the revised strategy, called the "Nuclear Employment Guidance," cam

North KoreaAug. 24, 2024