South Korean cloud data center operators have formed ties with local companies that specialize in chips used in servers in a move to cope with growing semiconductor demand and uncertainty in global supply chains, the ICT ministry said Tuesday. The Ministry of Science and ICT said five data center companies -- Naver Cloud, Douzone Bizon, Kakao Enterprise, NHN and KT -- and the Artificial Intelligence Industry Cluster Agency signed a memorandum of understanding with local server chip companies SK

Technology June 1, 2021

The first batch of the Moderna COVID-19 vaccine, enough for 27,500 people, arrived in South Korea on Tuesday, health authorities said. The first batch of 55,000 bottles is part of a contract for 40 million doses signed between the Seoul government and the US pharmaceutical company. The vaccine was initially scheduled to be delivered Monday but was delayed one day due to "local circumstances" in the United States. The vaccine will be administered to health care workers under the age

Social Affairs June 1, 2021

The justice ministry's plan to lower the barrier for children of permanent residents to gain citizenship has triggered protest from people who suspect the move was a ploy to benefit Chinese living here. An early draft of the revision to the Nationality Act allows children of permanent residents with "close ties" to South Korea to easily acquire citizenship. In detail, children up to the age of 6 will be able to immediately gain citizenship without preconditions and those aged 7 and ab

Politics June 1, 2021

South Korea unveiled Tuesday a fully assembled model of its homegrown space rocket for the first time since the country started its development in 2010 as it conducts final testing procedures before its launch later this year. South Korea has earmarked 2 trillion won ($1.8 billion) to develop its first homegrown space launch vehicle, named Nuri, and aims for a launch in October this year. In 2013, South Korea successfully launched its first-ever Naro space rocket, though its first stage rocket

Technology June 1, 2021

South Korean banks saw their financial health improve in the first quarter from three months earlier as they recorded high net profits and raised capital amid the COVID-19 pandemic, data showed Tuesday. The average capital adequacy ratio of 16 commercial and state-run banks stood at 15.34 percent as of end-March, up 0.34 percentage point from the end of last year, according to the data from the Financial Supervisory Service (FSS). A key barometer of financial soundness, the ratio measures the

Economy June 1, 2021

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Tuesday that it has a combined 1.36 trillion won ($1.2 billion) of orders from five customers to build 12 ships. Under a deal with an Oceanian company, four liquefied natural gas (LNG) carriers and a 40,000-cubic meter liquefied petroleum gas (LPG) carrier will be delivered by the first half of 2024, KSOE said in an emailed statement. Another deal with an African company calls for KSOE to deliver four 50,000-ton petrochemical carrie

Industry June 1, 2021

South Korea's leading cinema chain CJ CGV said Tuesday it will screen two meditation movies starting next week to help people enjoy tranquility in the evening after being busy in the daytime. "Peace of Mind," featuring the beauty of oceans, the sky and space, along with a meditation guide, will be screened from June 9-18, according to CGV. From June 23 to July 2, "Body Scan" will be shown to allow viewers to enjoy self-reflective body movements at movie theaters. The movie

Film June 1, 2021

Two major South Korean drama productions are entering the US market through joint production and corporate acquisition, as Korean shows are enjoying increasing popularity around the world via online video steaming services. Studio Dragon said Tuesday it has agreed to co-produce a drama series with US company Skydance Television for Apple TV+. JTBC Studios said it signed an agreement to acquire US television and film studio Wiip on Monday. Studio Dragon is affiliated with CJ ENM, the nation's

Television June 1, 2021

The virus-hit South Korean performing arts sector is heading for a recovery this spring after plummeting last year, thanks to recently eased social distancing rules, data showed Tuesday. The combined revenue of 2,700 theatrical plays, musicals, classical concerts and other performances reached 70.5 billion won ($63.6 million) over the March-May period, according to the data by the Korea Performing Arts Box Office Information System (KOPIS). The amount more than doubled from the 25.4 billion wo

Performance June 1, 2021

An Air Force officer and two Army members tested positive for the new coronavirus, the latest in a series of infections at barracks, the defense ministry said Tuesday. The airman in the city of Osan was confirmed to have been infected in a test required to exit quarantine. He has been in isolation after coming into contact with his colleague who tested positive earlier, according to the ministry. One enlisted soldier and an Army officer tested positive following their recent vacations, it adde

Defense June 1, 2021

An Air Force officer has died in an apparent suicide after being sexually harassed by a colleague, officials said Tuesday. In March, the female master sergeant stationed in the central city of Seosan was sexually harassed by the man surnamed Jang inside a car on their way back to the base after a private gathering that she was forced to attend, according to the officials. She then reported the case to the authorities the following day, but the military allegedly failed to take appropriate step

Defense June 1, 2021

North Korea criticized some countries for storing an excessive stock of coronavirus vaccines while others suffer from a lack of supplies in a recent United Nations session. In a statement presented at the 74th World Health Assembly last week, North Korea also urged the World Health Organization to help achieve a fair distribution of the vaccines across the globe. "The development of COVID-19 vaccines and medicines might be the achievement for the common mankind whereas an unfair reality i

North Korea June 1, 2021

Samsung Heavy Industries Co. said Tuesday it has signed a 529 billion-won ($477 million) deal with an Asian company to construct four container carriers. The 13,000 twenty foot equivalent unit (TEU) container carriers will be delivered to the Asian company by February 2024, Samsung Heavy said in a regulatory filing. With the latest deal, Samsung Heavy has achieved 65 percent of its annual target of $9.1 billion, by winning orders worth $5.9 billion for 48 ships, the company said. As new orde

Industry June 1, 2021

Rep. Yun Ho-jung, floor leader of the ruling Democratic Party (DP), has said the country needs to come up with another round of universal COVID-19 response stimulus checks in time for the national attainment of herd immunity. "(The government) needs to provide emergency handouts and take measures for grand economic reconciliation as a new strategy to reinvigorate the economy for the post-COVID-19 era," the ruling party floor leader said in an interview with Yonhap News Agency at the N

Politics June 1, 2021

LG Electronics Inc. is fast converting its overseas smartphone manufacturing lines into facilities that produce home appliances, industry insiders said Tuesday, following its decision to withdraw from the mobile business. LG said the Brazilian government last month approved its plan to expand its Manaus plant in Amazonas, northwestern Brazil, in a move to shift its production lines from the Taubate site on the east coast. When the $62 million project is completed, LG Electronics will have ne

Industry June 1, 2021