Market valuation estimates of local digital platforms that promote individual trading of secondhand products have been on the rise with traditional retailers and even banks injecting large investments in hopes of them becoming the next Coupang and Market Kurly. Some market insiders say that valuation of Danggeun Market, the nation’s biggest secondhand trading app by transaction volume, is estimated at 3 trillion won ($2.5 billion). The figure, though based on mere estimation, surpasses

Samsung needs ‘killer’ foldable content to disrupt Apple’s ecosystem

South Korean stocks finished nearly unchanged Tuesday as investors await comments by the US Federal Reserve chief at the Senate hearing. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) edged up 0.66 points, or 0.02 percent, to close at 2,927.38 points. Trading volume was moderate at about 559 million shares worth some 10.5 trillion won ($8.8 billion), with losers outnumbering gainers 717 to 170. Institutions sold a net 268 billion won, and

LG Electronics said Tuesday it has signed a memorandum of understanding with Mystic Story, a local music label led by singer-song writer Yoon Jong-shin, to debut its virtual human ambassador, Reah Keem, as a singer. Yoon, Mystic’s chief producer, will oversee the overall project from writing songs to vocal training for Keem. Her imminent debut was teased last week when LG unveiled a music video clip at the Consumer Electronics Show. “I want to be an artist who not just makes musi

A South Korean passenger jet that has been grounded in Kazakhstan amid an anti-government protest is expected to return home later this week once the Central Asian nation's largest airport resumes operations, the foreign ministry said Tuesday. The flight of Asiana Airlines Inc., a South Korean flag carrier, with dozens of South Koreans aboard has been grounded at Almaty International Airport since it landed there Wednesday, when protesters took control of the nation's main gateway. The ministr

A ruling party lawmaker recently filed a bill calling for banks to receive the financial authorities’ permission for partially shutting down their business here, the National Assembly’s online bill information system showed Tuesday. Rep. Min Byoung-dug of the Democratic Party of Korea’s move follows Citibank Korea’s decision in October last year to pull out its retail banking business in phases, after failing to reach a deal with potential buyers. Citigroup in April 2021

Although most countries have COVID-19-related travel restrictions, the worldwide popularity of Korean pop culture has continuously crossed borders, reaching new heights. Taking the baton from K-pop, songs featured in local dramas have newly become a major medium for the spread of “Hallyu,” or the Korean Wave. Korean soundtracks have recently been made with an eye on the charts with the soaring popularity of dramas. The use of mainstream popular singers like BTS members Jin and V, an

The Korean film industry as a whole weathered a tough year in 2021, with only a few movies opening in theaters amid the ongoing COVID-19 pandemic. Looking at the list of films that did get a cinematic release, once again, it is hard to ignore the conspicuous absence of female actors. On the list of 20 highest grossing films in Korea last year are five Korean films --“Escape from Mogadishu, “Sinkhole,” “Hostage: Missing Celebrity,” “Hard Hit” and &ldq

The National Assembly on Tuesday passed a bill that mandates a union representative be included on public institutions' boards of directors. The lawmakers approved a bill during a plenary session that dictates public firms and quasi-public institutions must appoint one nonexecutive director recommended or picked by the head of a labor union on their boards. More than 130 public institutions will be subject to the new regulation. The director, representing the labor union, will have a two-year

The upcoming documentary “Sewing Sisters” is a film recommended by the nation’s top filmmakers Bong Joon-ho and Park Chan-wook. “Sewing Sisters,” co-directed by Kim Jung-young and Lee Hyuk-rae centers around three women who used to work for textile companies at Peace Market in the 1970s. “Parasite” director Bong appeared on stage before the film’s pre-screening event held on Jan. 4 and said, “I came here as a supporter and fan of the movie

Main opposition party candidate aims to double potential growth rate to 4 percent

Up to 80 million doses of ZyCoV-D to be manufactured annually at Hanmi Pyeongtaek bio plant

Greater government involvement emphasized for large-scale transitions

SK's CDMO unit expects its 2021 sales to reach all-time high of $740 million