South Korea to lead Japan, Taiwan in GDP per capita: IMF

South Korea’s gross domestic product per capita is projected to continue its lead over Japan and Taiwan in 2024, according to International Monetary Fund data. In its “World Economic Outlook,” released on Monday, the IMF forecasted Korea's GDP per capita to rise this year to $36,132, which would be an increase of 1.6 percent from last year’s $35,563. The figure for Japan is expected to decline from last year by 3.1 percent to $32,859, while Taiwan is forecast to reco

EconomyOct. 24, 2024

Hybe COO denies Illit plagiarized NewJeans, Hybe chart manipulation allegations

Belift Lab CEO Kim Tae-ho, who also serves as Hybe’s chief operating officer, has refuted allegations that his company's rookie girl group Illit plagiarized NewJeans' concept. "It is not true that Belift Lab plagiarized NewJeans. As the CEO of Belift Lab, I would like to state that we have filed a civil lawsuit and pressed charges against former Ador CEO Min Hee-jin regarding this issue,” Kim said during a National Assembly audit on Thursday. “We are awaiting the

K-popOct. 24, 2024

Critics slam this year's parliamentary audit as 'worst ever'

This year's National Assembly audit was slammed by critics on Thursday as the worst to date, with civic groups denouncing both sides of the political sphere for failing to carry out a proper audit. A monitoring group consisting of 270 different local civic groups here graded this year’s National Assembly audit a near-failing score of D-minus. The National Assembly Audit NGO Monitoring Group called this year’s parliamentary audit, which kicked off Oct. 7 and is set to wrap up Fri

PoliticsOct. 24, 2024

Yoon signals flexibility in no-weapons policy for Ukraine

South Korean President Yoon Suk Yeol on Thursday suggested possible flexibility in the country's longstanding policy of withholding lethal weapons aid to Ukraine, framing it as part of a phased counterstrategy in response to North Korea’s dispatch of troops to Russia. Yoon's comment came after South Korea's presidential office confirmed Tuesday that, depending on how the battlefield situation in Ukraine unfolds, Seoul will first consider providing defensive weapons, with the option of late

Foreign AffairsOct. 24, 2024

South Korea moves to regulate popular wiki site

For South Koreans seeking information online, all signs point to Namuwiki. The home-grown open-source encyclopedia has emerged as the country’s go-to knowledge hub, offering a more casual and community-driven alternative to Wikipedia. Boasting over 6.5 million entries that span everything from academic discourse to pop culture, it ranked as the nation's fifth most visited domain as of September, according to web analytics firm SimilarWeb. Operating through servers in Paraguay, Namuwik

Social AffairsOct. 24, 2024

[Today’s K-pop] Blackpink’s Rose logs 100m views with solo music video

Rose of Blackpink garnered 100 million views on YouTube with the music video for her Bruno Mars collaboration “Apt.,” her agency The Black Label said Thursday. The artist expressed gratitude via the agency, saying the song came out naturally while hanging out at a studio playing the game -- originally a drinking game in Korea -- and is “really touched and grateful that so many are listening to and enjoying it.” "Apt." achieved the feat in five days, the shortest

K-popOct. 24, 2024

[Contribution] Future-oriented partnership between Korea, Singapore

By Lee Seong-woo, Vice president of Korea Chamber of Commerce and Industry Living up to its reputation as a “small but mighty” country, Singapore has been an economic hub of Asia and is home to the Asian headquarters of many global companies. Its business-friendly investment environment, talented workforce and strategic location have made it a center of the Asian economy. The government of Singapore offers nondiscriminatory investment incentives to both local and foreign companies,

IndustryOct. 24, 2024

Korean travelers seen to prefer short-distance trips for 2025

South Korean holidaymakers will be interested in traveling to less-visited destinations in Asia next year, according to Skyscanner, a UK-based online flight, hotels, car hire options search engine. The trend forecast was based on the company's tourism data, analysis by industry experts and a survey of 1,000 South Korean holidaymakers, said Brendan Walsh, Skyscanner's head of commercial, at Travel Trend 2025 held at Music Complex Seoul in Jongno-gu, central Seoul, Oct. 15. “We exp

TravelOct. 24, 2024

Quiet Blue House neighborhoods become tourist destinations

Hoping to promote the neighborhood near the Blue House -- the former presidential office known as Cheong Wa Dae -- to tourists, the Culture Ministry and the Korea Tourism Organization are jointly running a travel campaign entitled “2024 Around Cheongwa” until Dec. 30. Featuring Cheongwadae Sarangchae, “2024 Around Cheongwa” will offer various programs ranging from history lessons and a stamp tour to trekking. Cheongwadae Sarangchae is the former meeting spot for Blue Hous

TravelOct. 24, 2024

[From the scene] How a Mercedes plant is turning dead EV batteries into fresh materials

KUPPENHEIM, Germany -- A two-hour drive southwest of Mercedes-Benz’s Stuttgart headquarters, a new facility in the small town of Kuppenheim is poised to play a big role in the auto giant’s sustainability efforts. On Monday, brightly lit tanks, each glowing with a different hue, lined the walls of the 6,800-square-meter space, labeled with symbols for essential elements: lithium, nickel, cobalt and manganese. This is not a scene from a sci-fi movie, but a staged media presentation -

MobilityOct. 24, 2024

Seoul shares end lower amid weak GDP data, rate woes

Seoul shares closed lower Thursday on tech losses amid concerns over weak economic growth and diminishing expectations for Federal Reserve rate cuts. The Korean won, however, snapped its 8-day losing streak against the U.S. dollar. The benchmark Korea Composite Stock Price Index fell 18.59 points, or 0.7 percent, to close at 2,581.03. Trade volume was moderate, with 336.43 million shares worth 9.47 trillion won ($6.9 billion) changing hands, and losers outnumbering gainers 613 to 256. Institutio

MarketOct. 24, 2024

Korea's economic growth slows in Q3 on weaker exports

South Korea’s economy has grown by 0.1 percent in the third quarter from the prior quarter, undershooting forecasts by big margins due to unexpectedly slowed exports, according to preliminary data from the Bank of Korea on Thursday. The country's real gross domestic product -- a key measure of economic growth -- expanded 0.1 percent on-quarter in the July-September period, missing the 0.5 increase forecast by the central bank in August. This is a red flag for Asia’s fourth-large

EconomyOct. 24, 2024

Yoon, Duda seek stronger defense ties

President Yoon Suk Yeol and Polish President Andrzej Duda agreed to strengthen their bilateral partnership in the fields of defense equipment, carbon-free energy and technology, as Yoon on Thursday received the Polish leader on a state visit to South Korea. Yoon conveyed Seoul's intention to complete negotiations over the second batch of South Korea's K2 tank exports during a joint press conference after the summit in his office in Seoul. "The two countries will actively support t

PoliticsOct. 24, 2024

Pak Kyongni Prize winner Sylvie Germain laments tragedy of global conflict

Acclaimed French writer Sylvie Germain, known for her profound exploration of eras marked by violence and turmoil, including the Franco-Prussian War and the Algerian War, said it’s “disheartening” to see the current global situation, particularly the conflicts in the Middle East and Ukraine. “It’s tragic that humanity hasn’t learned from history, and we continue to see the same situations recur. The violence and destruction caused by war are deeply concerning.

BooksOct. 24, 2024

Dive into Irish literature this weekend

The Seoul Outdoor Library will feature a special focus on Irish literature this Friday and Saturday. From 11 a.m. to 6 p.m., a special Irish-themed booth will be open at Seoul Plaza, with an Irish step dancing performance at the plaza at 6 p.m. on Friday. From 4 p.m. to 6 p.m. on Saturday, a "Meet the Authors" session will be held on the first floor of the Seoul Metropolitan Library in Jung-gu. Three writers from Dublin -- Anne Griffin, Sinead Gleeson and Ronan Hession -- will discuss

BooksOct. 24, 2024

Youn Yuh-jung to star as billionaire in Netflix's ‘Beef’ season 2

Veteran actor Youn Yuj-jung (“Minari,” “Pachinko”) will star in season two of the Netflix series “Beef.” The new installment of this US anthology drama will feature Youn as the Korean billionaire owner of a country club. While the show’s creator, executive producer and showrunner Lee Sung-jin continues to helm season two of “Beef,” the new season will feature a whole new cast that includes Oscar Isaac, Carey Mulligan, Charles Melton and Cai

FilmOct. 24, 2024

Salzburg Festival president highlights century-long event's strengths

The Salzburg Festival is more than a festival celebrating Mozart, although the connection between Mozart and the festival held in the city of the composer's birth continues to be strong. “I believe that Mozart plays a crucial role in the festival, but what truly sets the Salzburg Festival apart is its dedication to showcasing a diverse array of programs,” Kristina Hammer, the president of Salzburg Festival, told reporters in Seoul on Wednesday. Hammer, president of the festi

CultureOct. 24, 2024

SK Innovation replaces heads of key subsidiaries

SK Innovation said Thursday that three of its key subsidiaries -- SK Energy, SK Geocentric and SK IE Technology -- have appointed new company heads with technological expertise to tackle business uncertainties and strengthen core competitiveness. The announcement comes eight days before the mega-merger of SK Innovation and SK E&S, two major energy affiliates of SK Group, which will create Korea’s largest energy giant with combined assets of 100 trillion won ($723.6 billion). The newly

IndustryOct. 24, 2024

Long-term foreign residents in S. Korea at all-time high

The number of foreign nationals residing in South Korea long-term has increased to an all-time high, reaching almost 2.5 million last year, according to official data presented by the Ministry of Interior and Safety on Thursday. As of Nov. 1, 2023, there were a total of 2,459,542 foreign nationals staying in Korea for at least three months. According to the Interior Ministry -- which defines foreign residents as those without Korean nationality, those who have obtained Korean citizenship but are

Social AffairsOct. 24, 2024

Korea Zinc shares soar 30% amid prolonged ownership fight

Shares of Korea Zinc, the world’s largest zinc smelter, jumped almost 30 percent on Thursday amid speculation that the prolonged power struggle between the current management and the MBK Partners-Young Poong coalition could push the share price up further in the coming weeks. The shares of Korea Zinc closed at 1.13 million won ($825), up 262,000 won or 29.91 percent from the previous day, hitting the upper circuit limit. The uptick comes after the tender offer of the current management clo

MarketOct. 24, 2024