Korean fresh food delivery platform Market Kurly has changed the venue for its planned public debut from the US to the Korean market, as recently relaxed listing regulations and market conditions now give them firm reasons to stay home. After exploring options of floating its shares in the US or at home, Market Kurly decided to go for the Korean stock market, it said Friday. “We appreciate domestic customers, producers and suppliers and would like to share the success of the company,&

Market July 12, 2021

Commercial banks in South Korea are slated to cut back on business hours in line with the highest social distancing rules of Level 4, according to the Korea Federation of Banks on Friday. Local bank branches will adjust their operating hours to between 9:30 a.m. to 3:30 p.m, from the current 9 a.m. to 4 p.m, to combat the rapid spread of the novel coronavirus and its delta variant, officials said. The recent move came after the government announced it will implement Level 4 guidelines in Se

Market July 9, 2021

The bank debt of millennials and Generation Z -- together including those born from the 1980s forward -- spiked as they increased investments in real estate, stocks and cryptocurrencies, data showed Thursday. According to the Financial Supervisory Service data released by Rep. Kim Han-jeong of the Democratic Party of Korea, millennial and Gen Z household debt from local banks surged to 26 trillion won ($22.7 billion) in March, up 4.47 trillion won from a year ago. Home-backed lending increased

Economy July 8, 2021

The emergence of the “MZ generation” -- those born in the 1980s and ‘90s -- has brought significant change in South Korea’s financial landscape, pushing its conservative players to navigate uncharted territory in the technological era. Financial institutions are embracing the technological shift from physical space to digital sphere with big-name bankers experiencing the virtual world via VR headsets and holding executive meetings in “metaverse” online setti

Market July 3, 2021

South Korea’s National Tax Service has joined a nonprofit European tax body in a bid to enhance cooperation with member countries and provide policy support for local companies making forays into the European market. The Intra-European Organization of Tax Administrations approved South Korea’s entry as an associate member -- the first in Asia -- at the 25th General Assembly held through video conferencing from Wednesday to Friday. The IOTA consists of 44 member countries from the

Economy July 2, 2021

SK Telecom, South Korea’s top-tier telecom operator, will showcase four new video games at a world-class gaming conference, in a bid to expand into the global console game industry, the company said Friday. The company will participate in “E3 2021,” the largest electronic game exhibition in the US that is set to kick off Saturday, serving as publisher for local medium-sized game companies. Hosted by Entertainment Software Association, E3 2021 will be held online to run from J

Industry June 11, 2021

In line with the environmentally friendly message of Herald Corp.’s first H.eco Forum, the venue was filled with plastic-free, reusable and recyclable products. These included paper banners and souvenirs made of coffee grounds. Under the theme “We Face the Climate Clock,” H.eco Forum 2021 was held Thursday in a multipurpose hall on Nodeulseom, an artificial island in the middle of the Han River that features an ecological park.  “The forum ditched the use of on

Social Affairs June 10, 2021

Kim Beom-su, the founder of mobile messenger firm Kakao, has established a charity foundation aimed at making positive social impact, Kakao said Wednesday. The Brian Impact foundation, named after Kim’s English name, aims to support businesses that seek to provide solutions to social problems, expand employment opportunities through research and development projects or engage in business related to future-leading technologies, such as artificial intelligence. “The purpose of Brian

Industry June 9, 2021

LS Cable & System aims to expand its footprint in the global electric vehicle components market, with high-voltage and lightweight aluminum wires, the company said Wednesday. According to the cable manufacturing unit of South Korea’s LS Group, the firm is exclusively supplying enamel wires for Hyundai Motor’s first electric vehicle, the Ioniq 5. Coated with advanced insulation material, the wires can cope with up to 800 volts, allowing rapid charging of the vehicle. The Anyang,

Industry June 9, 2021

South Korea’s duty-free industry in April marked its steepest expansion in three years, signaling a gradual recovery toward pre-coronavirus levels, government data showed Tuesday. According to Korean Statistical Information Service, the duty-free sales index climbed 51.6 percent on-year in April, marking the steepest growth since the 54.6 percent observed in May 2018. The given indicator comprises the combined monthly sales of all duty-free shops here. Sales for shoes and bags skyrocket

Consumer June 8, 2021

Hopes of a return to a pre-coronavirus normal are being fanned by COVID-19 vaccine incentives packages. Various incentives for vaccinated people, such as eased gathering restrictions, are being welcomed by citizens who say the measures will help provide some relief from prolonged restrictions.　 The vaccine incentives allow people who have had at least one shot of coronavirus vaccine to engage in larger family gatherings and religious events. They can go outside mask-free from July. Fully vacc

Social Affairs June 8, 2021

Hanwha Techwin will deploy a cutting-edge surveilling camera system on South Korea’s easternmost Dokdo islets, the company announced Monday. Two cameras with 8K superhigh resolution from the firm will be installed at the residential accommodation and heliport. Offering a live feed of images, they will help authorities to monitor and prevent any disaster or accident near the islets, the firm explained. Hanwha Techwin, a unit of Hanwha Group specializing in video security solutions, deve

Technology June 7, 2021

Local governments in the Chungcheong provinces are banding together in hopes of hosting an international sporting event and to promote Korea’s soft power, the North Chungcheong Province governor said Thursday. The local governments of Sejong, Daejeon, South Chungcheong and North Chungcheong Province have teamed up for a joint bid to host the 34th Summer World University Games in 2027. More than 15,000 university students from 174 countries participate in the event. Organized by the Int

Foreign Affairs June 3, 2021

“Good Morning Dokdo,” a musical about South Korea’s easternmost islets and the territorial dispute with Japan, is coming back to the Seoul Arts Center from June 10-13. The show, which first opened in May 2020, has been upgraded with new cast members and visual effects, said the Seoul Arts Center, which held open auditions. “Good Morning Dokdo” follows the Dokdo Lovers, a group that shares an interest in protecting the islets’ sovereignty, as they travel the

Performance May 28, 2021

Global content company Smartstudy announced that it will release an animated version of “Hot Sauce,” from K-pop boy band NCT Dream, Friday at 7 p.m. The video will be on the official YouTube channels of both NCT Dream and Smartstudy’s education brand Pinkfong. “Hot Sauce” is the title song of the group’s first studio album, which sold over 1 million copies last week. The track consists of up-tempo hip-hop beats and Afro-beats. According to the content cr

Performance May 28, 2021