Most Popular
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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S. Korea, Singapore seal supply chain agreement
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Korean language teaching expert says demand has outstripped supply
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Conscripting women to lead to 'more babies,' claims military think tank
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Korea added to key bond index
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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Who is pollster roiling politics with claims of government string-pulling?
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Taking away phones during school hours not a human rights violation: watchdog
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North Korea notifies UN Command of plans to fortify border with South
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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LG’s top brass joins forces to garner support for Busan’s Expo bid
As South Korean business leaders play a key role in attracting support for Busan’s bid to host the World Expo 2030, LG Group’s top executives traveled around the world to win votes. In October last year, Chairman Koo Kwang-mo visited Poland to meet with Polish Prime Minister Mateusz Morawiecki, requesting the country’s support for Busan’s Expo bid. “Busan is South Korea’s second largest city, and it is also where LG first started its business. Busan is also wh
April 6, 2023
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LG boosts support for Busan’s Expo bid
LG Group, the nation’s fourth-largest conglomerate, has joined forces to promote Busan’s bid for the 2030 World Expo. During a week-long visit by an on-site inspection team from the Bureau International des Expositions (BIE), the intergovernmental regulating body for World Expos, LG is carrying out diverse promotional activities to raise spirits and support for the port city’s strong desire to host the Expo, one of the largest international gatherings. Since the BIE delegation&
April 6, 2023
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Public-private partnerships to bring Expo to Busan
Local governments and private companies in South Korea have been ramping up efforts for the country's bid to bring the World Expo to Busan in 2030. Hosting the 2030 World Expo has been a long-standing goal for Korea, who started on the path to candidacy in 2014. In 2019, the bid for the World's Fair was designated as an important national project, prompting the establishment of a joint public-private bidding committee, which has been up and running since last year. Prime Minister Han D
April 6, 2023
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KB Financial to hold debate competition with university students
KB Financial Group has announced on Thursday that it will host a debate competition for university students called the 2023 KB Solveathon in July. The term "solveathon" is a combination of the English words "solve" and "marathon," according to KB Financial Group. Similar to a marathon that requires runners to complete a 42-kilometer route, the debate competition requires participants to engage in presentations and debates for around 42 hours to discover the best sol
April 6, 2023
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SK On chief expects ‘tangible results’ next year
SK On Executive Vice Chairman Chey Jae-won said Wednesday that he expects to see “tangible results” in the company’s still-nascent electric vehicle battery business from as early as next year, calling the company “the fastest-growing company in the fastest-growing industry.” He was speaking during a town hall meeting held at the company’s headquarters in Seoul, with some 400 executives and employees in attendance. “Typically, a manufacturing company suff
April 6, 2023
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[Photo News] Jajangmyeon prices soaring
The signboard of a Chinese restaurant is seen in Myeong-dong, central Seoul, on Wednesday. The average price of a bowl of jajangmyeon, or noodles in black bean sauce, has soared more than 60 times to 6,361 won ($5) over the past five decades, according to market tracker Korea Price Information Corp. Over the last five years alone, the price has jumped 26.9 percent largely due to growing ingredient prices.
April 6, 2023
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Tax cut takes edge off vet bills
Medical expenses for pets are expected to go down as the South Korean government is looking to get rid of the value-added tax-imposed pet care services. According to the Ministry of Economy and Finance on Wednesday, the government has recently started an internal review process to scrap the existing VAT on some pet care services. Under the current decree relating to animal healthcare, 10 percent VAT is charged on pet care services here. Some veterinary care services, such as vaccinations, neuter
April 5, 2023
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Hyundai Motor unveils 'Busan is Ready!' video
Hyundai Motor Group announced Wednesday it has released a promotional video titled “Busan is Ready!” on several digital platforms for the city’s bid to host the 2030 World Expo. It is the latest installment of the group’s large-scale video campaign series, which has been taking place over the last two weeks. The video aims to show Busan’s appeal as the perfect location to host the World Expo by highlighting its competitiveness and role as a technological, cultural a
April 5, 2023
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Korean Air, Delta Air celebrate 5th anniversary of joint venture
Korean Air, the nation’s number one flag carrier, said Wednesday it recently celebrated the fifth year of its joint venture partnership with the US' Delta Air Lines by holding a home repair project in Calauan, the Philippines. Calauan in Laguna province is home to a resettlement site project of 650 houses built by Habitat for Humanity, the non-profit international home-building organization, for low-income families affected by Typhoon Ondoy in 2009. Approximately 110 units remain unoc
April 5, 2023
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[Photo News] Samsung's big bet on display
South Korean President Yoon Suk Yeol (center), Samsung Electronics Chairman Lee Jae-yong (third from left) and other government and company officials pose for a photo at Samsung Display’s Asan Campus in Gyeonggi Province on Tuesday in celebration of the tech giant’s new 4.1 trillion won ($3.1 billion) investment into upgrading production lines of high-end display panels by 2026. Samsung said its planned investment could help facilitate related industrial ecosystems as well as the loc
April 5, 2023
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KCCI's online platform offers solutions to global issues
Global solutions platform Wave, launched by South Korea's largest lobby group, will play the role of bridging entities around the world to share ideas on resolving major challenges faced by the international community. Wave was launched by the Korea Chamber of Commerce and Industry on March 17 and was created as part of the strategies for the country's bid to host the 2030 World Expo in Busan. The online site enables visitors to find solutions to pending global issues such as the envir
April 5, 2023
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FSS calls for action against money laundering
To prevent money laundering crimes that take place overseas, the Korean financial watchdog highlighted the critical importance of implementing additional measures during a symposium hosted by the US Department of State in the Nuri Ballroom of the Four Seasons Hotel Seoul on Wednesday. “As overseas transactions of domestic financial institutions are expanding, more sophisticated and diversified methods of money laundering are also emerging,” Financial Supervisory Service Deputy
April 5, 2023
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Ho-Am Foundation picks prize winners
The Ho-Am Foundation on Wednesday announced the winners of its annual Samsung Ho-Am Prize award for this year in the fields of science, engineering, medicine, arts and community service. This year’s prizes went to Ihm Ji-soon, a distinguished professor at Pohang University of Science and Technology, for physics and mathematics; Choi Kyoung-shin, a professor at University of Wisconsin-Madison, for chemistry and life sciences; Sun Yang-kook, chair professor at Hanyang University, in engineer
April 5, 2023
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Busan's historic trade port to turn into BIE big data hub
South Korea has proposed turning its first trade port in Busan, the North Port, into a big data center storing the history and legacy of Bureau International des Expositions, if it succeeds in its bid to host the World Expo in Busan in 2030. The Busan Expo bidding committee made the proposal to the BIE delegation while it was here for on a six-day inspection trip, which began Sunday. The next World Expo will take place in 2030, the year the BIE marking its 100th anniversary. Bidding to host the
April 5, 2023
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Korea aims to become 7th nation to host Olympics, World Cup, World Expo
South Korea could become the seventh country to host the three major international events, the Olympic Games, the World Cup and the World Expo, if it succeeds in its bid to host the World Expo in Busan in 2030. Currently, France, the US, Canada, Germany, Italy and Japan are the only six countries that have hosted all three international events. In terms of the World Expo, South Korea would become the 12th country to host the global event. Previously, the World Expo was held in 11 countries, incl
April 4, 2023
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Household loans at major banks continue to decline
The trend of Korean households being less willing to take out loans due to burdensome high lending rates continued in March, according to industry sources. In March, the remaining balance of household loans at the five major banks -- KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup -- decreased by 4.68 trillion won ($3.55 million) compared to the previous month, to 680.7 trillion won. This downward trend has been persistent for 15 consecutive months since January last year. The reduction in the
April 4, 2023
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Biz leaders circle the Earth more than 64 times to drum up Expo support
Top conglomerate leaders have traveled over 2.5 million kilometers, equivalent to the distance of 64 1/2 rounds around the Earth, to lead diplomatic efforts in support of Busan’s bid to host the World Expo 2030. Since June last year, the World Expo Bidding Committee, a business-led civilian organization made of 11 companies including SK, Samsung and Hyundai, have visited 84 countries for negotiations related to the final vote regarding the host city of the global fair, according to the Kor
April 4, 2023
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BIE members feel Seoul's fever for Busan Expo
The Bureau International des Expositions (BIE) committee visited Gwanghwamun Plaza in central Seoul on Monday evening, where promotional events were held to support Busan to win the bid for World Expo 2030. Representatives of the BIE came to South Korea on Sunday, and are scheduled to meet government officials and visit Busan to assess the city's suitability to host the World Expo. The eight members of the BIE took a stroll around the LED rose garden, and listened to explanations of the gia
April 4, 2023
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Hanwha-DSME merger still awaits Korean approval
South Korea’s Fair Trade Commission is closely reviewing Hanwha Group’s acquisition of Daewoo Shipbuilding and Marine Engineering as it could lead to unfair trade practices if completed, officials said Monday. “The issue is that ships are used in battle. They are weapons. In terms of the weapons system, Hanwha has a high market share and possesses control over the market. There are other companies that make military ships other than DSME. In this case, there is a possibility th
April 3, 2023
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Biz leaders welcome BIE delegation, reaffirm support for Busan's Expo bid
The Busan Expo bidding committee hosted a welcome lunch on Monday for delegates from the Bureau International des Expositions, who visited the port city for a six-day on-site inspection ahead of its vote for deciding the host city of the World Expo 2030. “Before their busy schedule in Seoul and Busan for the next five days, I hope the delegates have a comfortable time during this lunch. (The inspection) will be a tough process, but I want you know that Korea and Busan are ready for it,&r
April 3, 2023