Upbit, South Korea’s first cryptocurrency exchange to receive a green light from regulators, is gearing up to verify its massive number of users to fulfill the next important duty under the anti-money laundry act. Industry watchers believe Upbit’s user verification could take as long as three months due to its massive user base of 8.3 million and a public ID verification system operated by the Ministry of the Interior and Safety. The ministry’s identity verification system

Ruling party walks back from its plan and suggests forming a parliamentary committee

South Korea will continue to cooperate with the new Japanese government under the leadership of Fumio Kishida, the foreign ministry said Wednesday, following his win in the party election set to make him the next prime minister. "The government intends to continue to cooperate with the newly launched Japanese Cabinet to develop the bilateral relations between South Korea and Japan in a future-oriented manner," the ministry said. Kishida won the leadership election of the ruling Li

North Korea's latest missile launches will not affect the US' determination to seek diplomacy with the North for the denuclearization of the Korean Peninsula, the US nuclear envoy for Pyongyang said Wednesday.  Sung Kim, US special representative for North Korea, made the remark at a press event in Jakarta, a day after the North test-fired a hypersonic missile into the East Sea. The firing came after the regime's test-firings of two short-range missiles on Sept. 15 and a new type of cruis

New leadership in Japan unlikely to trigger huge shift in strained Seoul-Tokyo ties 　

Global steelmakers will come together to find ways to decarbonize steelmaking in a forum organized by Posco, the South Korean steel giant said Wednesday. The Hydrogen Iron & Steel Making Forum 2021, set to take place from Oct. 6-8 on both offline and online channels, is expected to provide a platform for industrywide discussion for major players around the world to join the global movement to reduce carbon emissions. “Hydrogen-based steel production technology is yet to be realize

Korea’s mobile carriers to accept preorders for the iPhone 13 from Friday, with the official release date slated for Oct. 8

South Korean military says missile in early stages of development

The eight-piece boy band E’last returned on Wednesday as a complete group in 10 months with their single album “Dark Dream.” Member Wonjun, who had sat out during the promotional activities for the previous EP “Awake” to emcee television show “Boni, Hani,” has returned, rejoiced to be back with his bandmates. In an interview conducted ahead of their comeback, the group said via email, “E’last shines the brightest when all eight members ar

US-based content streaming giant Netflix has generated economic effects in South Korea worth 5.6 trillion won ($4.73 billion) and created 16,000 local jobs since its 2016 entry here, the company said Wednesday. At its first event for its Korean partners, the firm released a report written by Deloitte on the effects of its presence and investment in the country. Netflix commissioned the study. Since it launched here in 2016, the company has invested about 770 billion won in domestic content

CL unveiled the second single from her debut studio album in advance on Wednesday. 　 British singer/songwriter Anne-Marie co-wrote the song, titled “Lover Like Me,” which exudes confidence as the narrator coolly lets go of a partner who tried to cheat, saying the cheater will never meet anyone else like her. “Lover Like Me” highlights her vocals, while the previous single, “Spicy,” focused on her rapping and performance skills. 　 The first single from her u

The South Korean government has confirmed Wednesday that it will launch the country’s first fully domestically developed satellite launch vehicle Nuri on Oct. 21 as scheduled. The Ministry of Science and ICT said the rocket, also known as Korean Space Launch Vehicle II, will blast off at 4 p.m. from the Naro Space Center in Goheung, South Jeolla Province. The time, however, could be slightly changed in accordance with weather conditions, an official from the ministry said. The official