Most Popular
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40% of Korea's workers who reported bullying faced retaliation: survey
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Over 82,000 Korean young people unemployed, not searching for job long-term
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600 evacuated as heavy rain floods roads, homes in southern regions
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[KH Explains] Can smart chargers ease tensions over EV fires?
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Torrential rainfall forces 1,500 to evacuate, causes widespread damage to homes, roads
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[Weekender] Young Koreans more open to Japanese cultural products
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S. Korea to inject $37m in joint R&D projects with Czech Republic
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1 in 5 households to have breadwinner over 80 in 30 years
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New Fifty Fifty off to strong start
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Jeju's solo traveler-friendly spots offer solitude as well as camaraderie
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Economists unimpressed by upgrade in Korea’s credit rating
Government officials were quick to describe the decision by global credit appraiser Standard & Poor’s on Monday to raise Korea’s sovereign credit rating from AA- to a record high of AA as positive recognition of the way they have handled the country’s economy.In a statement issued the same day, the Ministry of Strategy and Finance said the decision was highly surprising, given the rating agency has been downgrading sovereign debt ratings of major economies lately.Ministry officials argued it sho
Aug. 11, 2016
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[Industry 4.0] ‘Korea’s R&D policy needs overhaul to spur innovation’
In the 1970s, South Korea’s industrial policy mostly focused on lifting the country out of poverty as it reeled from the aftermath of the Korean War, Japanese colonization and internal political turmoil.Its policy then concentrated on accelerating growth by handpicking key industries and developing them as rapidly as possible so that Korea could catch up with the advanced economies of the U.S., Europe and Japan.With its growth-first policy, the country encouraged those industries to research, de
Aug. 11, 2016
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[Industry 4.0] Korea eyes additive manufacturing industry
As a latecomer to the global additive manufacturing industry, South Korea is striving to boost technology and cultivate expertise in the market, despite lack of human resources and investment. According to the Korea Institute of Science and Technology Information, the local additive manufacturing industry was worth 59 billion won ($54 million) in 2014 and 82 billion won in 2015. This year, it is expected to exceed 116 billion won. Neurosurgeon Kwon Jeong-taik performs a surgery to transplant a
IndustryAug. 11, 2016
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[Industry 4.0] Self-driving car, drone face safety questions, lack of support
Within eight years, Korea will have autonomous vehicles manufactured wholly by homegrown technology. According to a 2.2 trillion won ($2 billion) blueprint rolled out by the Korean government Wednesday, the country will produce eight major components required for self-driving vehicles including visual sensors and radar by 2019. By 2021, carmakers will secure technology that enables a driverless vehicle to keep distance from cars ahead and change lanes without human input. And by 2024, automated
TechnologyAug. 11, 2016
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Korea's overseas direct investment jumps 22% in H1
South Korea's overseas direct investment expanded 21.6 percent in the first six months of the year from a year earlier on a sharp rise in purchases of real estate overseas, government data showed Thursday.The country's overseas direct investment came to $21.75 billion in the January-June period, compared with $17.89 billion tallied in the same period last year, according to the data compiled by the Ministry of Strategy and Finance.Investments by financial institutions, including insurers, soared
Aug. 11, 2016
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[Industry 4.0] Network carriers engage in IoT war
The dawn of Internet of Things technology has sparked a fierce war between Korea’s three major telecom carriers as they seek to become the dominant network provider for IoT-based services.While improvements in information and communications technology have advanced communication between people through objects, the Internet of Things seeks to facilitate communication between objects themselves.According to a July report by the Hyundai Research Institute, the Korean IoT market is expected to grow
TechnologyAug. 11, 2016
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[Industry 4.0] Long road ahead for Korean biotechnology
South Korea is looking to make its mark in biotechnology as it eyes leadership in new industries geared for sharp growth in the years ahead.Biotechnology refers to technology that harnesses the science of genetics and molecular biology to develop new medical treatments and services. In the coming era of aging populations, the global biotech market is set for significant growth.The Ministry of Strategy and Finance forecasts the global biotechnology market will reach $2.61 trillion by 2024, surpas
TechnologyAug. 11, 2016
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30 of 51 overseas investments by KEPCO suffered deficit: data
A number of Korea Electric Power Corp.’s investment corporations in foreign countries were found to have suffered deficits, a report showed Thursday.According to corporate tracker Chaebul.com’s data, 30 out of 51 overseas investment corporations recorded business losses last year, making up 60 percent of the total. (Yonhap)Total assets of the 51 investment corporations stood at 28.9 trillion won ($26.2 billion), while net profit was 234 billion won last year, accounting for 0.8 percent of total
IndustryAug. 11, 2016
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SK Networks seeks business opportunity in Brazil
The head of SK Networks has vowed to expand its business partnership and seek new opportunities in Brazil during his business trip to the nation this week, according to the company on Thursday. Chairman Choi Shin-won paid a courtesy call to Brazil’s Acting President Michel Temer in his office in Brasilia. SK Networks chairman Choi Shin-won (right) poses with Brazil’s Acting President Michel Temer. (SK Networks)“As an honorary consul to Brazil and chairman of Korea-Brazil Society, I will make ef
TechnologyAug. 11, 2016
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Netmarble to launch ‘Lineage II: Revolution’ mobile game in October
South Korea’s leading mobile game developer Netmarble Games on Thursday announced that it will launch “Lineage II: Revolution” for mobile devices in Korea in October.Netmarble’s upcoming mobile game -- categorized as a “massively multiplayer online role playing game,” or MMORPG -- is based on NCSoft’s original online role-playing game “Lineage II.”“Lineage II: Revolution” has sought to optimize the original online game to fit mobile devices while offering the same high-quality graphics, characte
TechnologyAug. 11, 2016
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[Industry 4.0] Strict regulations hinder big data growth
The growth of South Korea’s big data industry is being hampered by strict regulations on personal data and lack of understanding of the technology, industry analysts say. The global big data market, which is expected to stand at around $27.3 billion this year, will more than triple by 2026, according to market research firm Statista. (Bloomberg)However, tech-savvy Korea is still far behind in this industry. The local big data market was worth around 262 billion won ($239 million) last year and
TechnologyAug. 11, 2016
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[Industry 4.0] Future of Korean economy now
Cars, chips and cellphones have been the dynamos of the Korean economy for the past decades, helping it leap to rank as the world’s 11th largest. This industrial model, however, may soon become outdated, as the world braces for a new, global technological revolution that will fundamentally alter the shape of every single industry. (123rf)In its scale, scope and complexity, the coming 4th Industrial Revolution will be unlike the previous three that humankind has experienced before, says World Ec
Aug. 11, 2016