KT Corp., a major South Korean telecom operator, said Wednesday it has joined hands with the country's top science university KAIST to develop a hyperscale artificial intelligence (AI) language model. The telecom operator plans to commercialize the model, which uses massive computing infrastructure for natural language processing, in the first half of next year, with hopes of powering its services, such as smart speakers and AI call centers. The Electronics and Telecommunications Research Inst

Technology Aug. 18, 2021

South Korean steelmakers appear to be in the final stage of negotiations with shipbuilders over prices of thick steel plates, people familiar with the matter said Wednesday. Posco, the country's largest steelmaker, has reportedly proposed a hike in the prices of thick steel plates -- a key material that accounts for about one-fifth of shipbuilding costs -- to 1.15 million won ($980) per ton. The offer marked a sharp increase from the first half of this year when thick steel plates were sold at

Economy Aug. 18, 2021

The webcomic arm of South Korea's top portal operator, Naver Corp., said Wednesday it will expand cooperation with the agency of K-pop sensation BTS and other companies to create new original content. Webtoon Entertainment said it will create various locally made webcomics and other kinds of intellectual property (IP) content based on BTS and other K-pop artists under their management company, Hybe Co. "We aim to expand and grow our storytelling content into the core of the entertainment

K-pop Aug. 18, 2021

South Korea aims to create around 1,800 companies that specialize in new 5G services in the next five years, the ICT ministry said Wednesday, to boost adoption of promising technologies powered by the latest generation networks. While the country commercialized 5G in 2019, companies have yet to fully harness the blazing fast networks that could power upcoming tech services, such as remote-controlled factories, self-driving vehicles, and 3D holograms. The ICT ministry said it aims to boost the

Technology Aug. 18, 2021

Eleven newly enlisted soldiers at an Army boot camp have tested positive for the new coronavirus, the defense ministry said Wednesday, in yet another cluster infections reported at the country's largest training camp for new recruits. The soldiers at the Korea Army Training Center in the central city of Nonsan were confirmed to have contracted COVID-19 after one of them first developed symptoms starting Monday, according to the ministry. The soldier who first showed symptoms joined the camp

Defense Aug. 18, 2021

The real estate investment trust (REIT) unit of SK Group, South Korea's No. 3 conglomerate, said Wednesday it will carry out an initial public offering in September. SK REIT said it will sell 46.5 million shares to investors in the planned IPO, whose specific date has yet to be unveiled. Its public offering price has been set at 5,000 won ($4.26) per share, with the company seeking to raise about 233 billion won through the IPO. After a demand forecast session for institutions on Aug. 23-24,

Economy Aug. 18, 2021

South Korean superband BTS has landed at No. 19 on this week's Billboard 200 chart with its latest Japanese compilation album. "BTS, the Best" came in at 19th place on Billboard's main albums chart refreshed Tuesday (US time), renewing the group's best first week ranking on Billboard for any of its Japanese-language album. The previous high was No. 43 made by the band's 2018 Japanese studio album "Face Yourself." Last year, the seven-piece band ranked 115th with its fourth

K-pop Aug. 18, 2021

First Vice Foreign Minister Choi Jong-kun has met with Senegal's President Macky Sall and discussed efforts to boost bilateral cooperation in health security, economy and other areas, the foreign ministry said Wednesday. Choi paid the courtesy call on Sall while visiting the African nation Tuesday and Wednesday in the second leg of his weeklong trip that includes Morocco and Nigeria. At the meeting, Sall asked South Korea to make special efforts to ensure equitable access to coronavirus vaccin

Foreign Affairs Aug. 18, 2021

South Korea's Hyundai Motor Co. said Wednesday it will reduce production at its US plant this week due to a chip shortage. Hyundai Motor will cut vehicle production at the Alabama plant from Tuesday to Friday (US time) over a lack of semiconductor parts, a company spokesman said over the phone. The Alabama plant halted operations for one week last month due to the same problem. From January to July, Hyundai's vehicle sales rose 22% to 2.34 million units from 1.92 million in the year-ago perio

Economy Aug. 18, 2021

South Korea will try to spend up to 80 percent of its defense budget for local sourcing under a "Buy Korea Defense" project aimed at boosting local industries and securing key technologies, officials said Wednesday. Under the project, set to be introduced this month, the country plans to spend 80 trillion won ($68.3 billion) out of 100 trillion won earmarked for defense capabilities improvement projects by 2026 on local research and development, production and other domestic procureme

Defense Aug. 18, 2021

Netflix, which made its Korean market debut in 2015, has been enjoying the first mover's advantage in the country, with a leading 7.9 million monthly active users as of June. It has spent $700 million on South Korean projects, creating 80 Korean-language originals, like the megahit historical zombie thriller "Kingdom," over the past years. The US streamer underwent rapid growth throughout last year as the pandemic-fueled demand for stay-at-home activities. To strengthen its foothold

Television Aug. 18, 2021

The chief of the ruling Democratic Party (DP) on Wednesday called for speeding up South Korea's envisioned takeover of wartime operational control (OPCON) of its forces from the United States in reflection of the recent crisis in Afghanistan. "We need OPCON transfer to further strengthen our will and capability of self-defense against the backdrop of the Afghanistan crisis," Rep. Song Young-gil said in his Facebook post. Song wrote the post as a direct rebuttal to a claim recently ma

Politics Aug. 18, 2021

The remains of Hong Beom-do, one of the most revered Korean independence fighters, were laid to rest at South Korea's national cemetery Wednesday, three days after being returned from Kazakhstan. An official ceremony for the reburial of his remains was held at Daejeon National Cemetery in Daejeon, 160 kilometers south of Seoul, following a public mourning period. President Moon Jae-in attended the ceremony, along with first lady Kim Jung-sook and other dignitaries, including Defense Minister S

Defense Aug. 18, 2021

South Korea's exports of automobiles edged down 2.9 percent in July from a year earlier as the global supply shortages of automotive chips hindered production, data showed Wednesday. Outbound shipments of automobiles reached 181,046 units in July, according to the Ministry of Trade, Industry and Energy. In terms of value, exports advanced 12.3 percent to $4.1 billion. The ministry attributed the decrease to a low base effect, as overseas shipments of cars gathered ground in July 2020 after the

Economy Aug. 18, 2021

North Korea has reported to the World Health Organization (WHO) that the country has conducted coronavirus tests on around 36,000 people so far but found no confirmed cases, the UN agency said Wednesday. According to the WHO's weekly report on COVID-19, 693 North Koreans underwent virus tests from July 30 to Aug. 5, bringing the total number of tested citizens to 35,947, but none were found to have been infected. Of the newly tested citizens, 112 people with symptoms turned out to be those wit

North Korea Aug. 18, 2021