LG Innotek said Wednesday it has developed a high-performance eco-friendly magnet that eliminates the use of heavy rare earth elements. Heavy rare earth elements have been critical for magnets to retain their strength at high temperatures. However, these elements are predominantly sourced from specific countries like China, posing price volatility and supply instability risks, alongside significant environmental damage due to mining. Following its 2021 achievement of reducing rare earth usage by

SK Networks said Wednesday it has joined forces with Malaysia’s Sunway Group, a leading conglomerate in Southeast Asia with key interests in real estate and construction, to drive artificial intelligence innovation. Founded in 1974, Sunway is one of Malaysia’s top 20 conglomerates, operating in 13 sectors across 50 countries with a market capitalization exceeding 10 trillion won ($7.2 billion). Under the partnership, the two companies plan to collaborate in the AI sector across Kor

Korea Ginseng Corp., best known for its JungKwanJang brand, said Wednesday it has launched a new red ginseng-based health functional product lineup for blood sugar management. The products, under the new brand GLPro, include GLPro Core and GLPro Double Cut. Both products incorporate KGC’s proprietary red ginseng ingredient, KGC05pg, which has been officially recognized by the Ministry of Food and Drug Safety for its effectiveness in helping to regulate blood sugar levels. KGC explains that

Forcing or threatening spouse into nonconsensual sex constitutes rape, legal experts say

Roughly half of public educational institutes across South Korea have at least one convicted sex offender living within a 1-kilometer radius, data showed Wednesday. Over half of the day care centers and high schools in the country -- 59 percent and 53 percent, respectively -- have one or more sex offenders living within 1 kilometer, according to the Ministry of Gender Equality and Family data submitted to Rep. Baek Seung-a of the main opposition Democratic Party of Korea. Some 51 percent of ki

Viva Republica, the company behind the popular financial app Toss, is now aiming for a US market debut, pivoting from its initial plan to list in Korea. “We are considering the US as our listing destination over Korea, but no specific plans or timeline have been set,” a Viva Republica official said Wednesday, adding that while they are focusing on the US, a debut there has not yet been set. The confirmation follows reports from the previous day that Viva Republica has decided to drop

A nationwide promotion of "hanwoo" -- Korean beef -- begins on Wednesday, with discounts of up to 50 percent off regular prices. The promotion will be carried out in 1,948 retail outlets across Korea, including major supermarkets, NongHyup Hanaro Mart and online hanwoo markets. The promotion is led by the Ministry of Agriculture, Food and Rural Affairs and organizations that manage beef production in Korea -- NongHyup Agribusiness Group, Hanwoo Association, and a semi-public promotio

LG Chem, South Korea’s leading chemicals company, is ramping up its automotive adhesives business as the rising market for electronic components in vehicles is expected to fuel demand. On Wednesday, LG Chem announced it had secured a deal to supply its heat-dissipating adhesives to a US-based electric vehicle company. The client’s name was not immediately disclosed due to confidentiality reasons. The heat-dissipating adhesive is used to bond battery cells within modules and packs. Wi

The state-run Defense Acquisition Program Administration on Monday announced its bid to make 150 new K2 tanks' power packs -- which comprise a 1,500-horsepower engine and transmission -- fully homegrown. The tanks with South Korean-made 1,500-horsepower engines and gear shifts will be manufactured by 2028, according to the plan. A notable change in the manufacturing plan, according to DAPA, is the adoption of a transmission system produced by a South Korean company SNT Dynamics. Currently,

A wild boar wrought havoc at a metro station in Yangsan, South Gyeongsang Province Tuesday afternoon, leaving one person injured and forcing an evacuation, local authorities said Wednesday. The incident began around 4:45 p.m. when the wild boar was first spotted near a local restaurant in Dong-myeon, Yangsan. By 5:10 p.m., it had crossed the street and made its way into Hopo Station on Busan Metro Line 2, officials said. The boar, estimated at 1.5 meters in length and weighing approximately 100

Hyundai Motor teases the Ioniq 9, their newest electric offering in the large sport utility vehicle market. The design is inspired by the smooth lines of a boat, slashing air resistance and boosting the SUV’s efficiency. The teaser hints at a flowing roofline for increased headroom and a silhouette that suggests a spacious cabin. Hyundai will fully reveal the Ioniq 9 next month. (Hyundai Motor Company)

South Korean retail and finance company TGS Holdings announced Tuesday that it has signed a memorandum of understanding with Philippines-based Glyphstudios to expand e-commerce and mobile payment services in the Southeast Asian market. As part of the agreement, TGS Holdings will launch a subsidiary called Woori Ventures Group to oversee its e-commerce operations in the Philippines. This deal, finalized last Wednesday with one of the Philippines’ largest mobile services and content provider