Despite the government's decision to raise the subsidy for parents having more than one child this year by 1 million won ($760), a survey suggests that the subsidy may not significantly influence parents' decisions to have another child. “Despite implementing the voucher subsidy, a recent decrease in the total fertility rate suggests there has been no direct impact (on having another child),” said Lee Yun-jin, a senior researcher at the Korea Institute of Child Care and E

South Korean game developer and publisher Nexon is steering the future of the gaming industry with Intelligence Labs, an in-house AI research and development team designated to exploring the optimal gaming experience for users. Launched in 2017, Intelligence Labs has used machine learning and deep learning to come up with more engaging and immersive games. A team of around 700 engineers is now zeroing in on generative artificial intelligence research to create original, personalized content for

Business lobbies of South Korea and Japan will hold their annual meeting early next week to discuss joint projects between the business communities of the neighboring countries, industry sources said Friday. The 30th Korean-Japan Business Council, co-hosted by the Federation of Korean Industries and the Japan Business Federation, or Keidanren, will take place over two days in Tokyo from Wednesday. Members of the FKI leadership, including Chairman Ryu Jin and Vice Chairman Kim Chang-beom, are exp

The head of South Korea's top financial authority on Thursday lashed out at Taeyoung Engineering & Construction's self-rescue efforts, saying they fell far short of expectations and urging a new plan within the week. Financial Supervisory Service chief Lee Bok-hyun made the comments during his New Year's press conference at the FSS headquarters in Seoul earlier in the day, just a day after the ailing construction firm announced a set of self-rescue plans to overcome a liquidit

South Korea suffered a slight decline in customer satisfaction across industries last year, an annual survey by the Korea Productivity Center said Thursday, in reflection of a sluggish economy and people’s increased belt-tightening amid high-flying interest rates. The KPC’s National Customer Satisfaction Index for 2023 was 78.2 points, down 0.2 points from the previous year. It was the first time the figure fell since 2010. The KPC, an affiliated agency of the Ministry of Trade, Indu

South Korean customers were more satisfied with their goods and services in 2023, compared to those in the US, Japan and Singapore, according to the National Consumer Satisfaction Index published annually by the Korea Productivity Center. The index is not only a measure of consumer satisfaction, but an indicator of the economic performance of companies, government agencies and the economy as a whole. Similar standards have been adopted by over 30 countries worldwide, which use the same metrics t

South Korean energy and environmental solutions provider SK Ecoplant said Thursday that the company would take part in CES 2024, the world's largest consumer electronics and technology trade show, to showcase its net-zero solutions with other SK companies. SK Group plans to operate a 1,850-square-meter exhibition booth during the CES in Las Vegas next week, with seven affiliates joining. SK Ecoplant will introduce its low-carbon construction materials, including glass fiber-reinforced polym

Hahn & Co., the nation's largest private equity firm based on assets under management, secured control over Namyang Dairy Product on Thursday, following years of legal disputes. The Supreme Court sided with Hahn & Co., ordering Namyang Dairy Product Chairman Hong Won-sik and his family members to hand over their 53.08 percent stake in the company to the private equity firm. With the court decision, the equity manager is to become the dairy firm's largest shareholder, while the

Carmakers hint at adjusting strategy for electrification, with renewed emphasis on hybrid vehicles

BMW outpaces archrival Mercedes-Benz for 1st time since 2015, selling over 77,000 vehicles in 2023

South Korea's top makers of chips and cars, Samsung Electronics and Hyundai Motor Group, are joining hands for heightened connectivity by integrating their smart home and connective car solutions, the companies said Thursday. In a signing ceremony on Wednesday, the two sides agreed to expand Samsung's SmartThings platform to support Hyundai Motor and Kia's connected cars, including electric vehicles. The goal of their partnership is to develop "Home-to-Car" and "C

LG Electronics’ North American Innovation Center, also known as LG Nova, has forged a strategic partnership with the US state of West Virginia to advance technologies for renewable energy, health care and other future industries, the Korean tech giant said Thursday. The two entities agreed to form an impact fund dubbed the Nova West Virginia Investment Fund to channel $700 million in project investment into the state over the next five years and grow related businesses. The businesses deve

Netmarble's Metaverse Entertainment and Korean Air said Thursday that they have collaborated to create a virtual-reality in-flight safety video, debuting this week. The video features a virtual environment called the Korean Air Safety Lounge and Lina, a digital avatar styled as a flight attendant. Utilizing visual effects and 3D technologies, including motion graphics and 3D sculptures, the video aims to convey safety information intuitively while enhancing Korean Air's brand image g

Starbucks Korea said Thursday that it will open Friday a new branch in Guri-si, northeast of Seoul, where visitors will be allowed to bring their pets -- the first of its kind operated by a coffee franchise here. The two-story building is 644.6 square meters with a total of 143 seats. Customers can take their pets to the second floor where private booths and pet seating are prepared. Pets must be on a leash and are not allowed on the first floor where beverages are made. "We hope the Guri

South Korean health care solutions provider Ceragem said Wednesday it will make its debut at the upcoming CES 2024, slated for next week in Las Vegas, to strengthen global partnerships and unveil the latest version of its flagship therapeutic thermal massager. In a 330-square-meter exhibition booth, Ceragem will present its Master V9, equipped with an upgraded massage module -- massage rollers -- as well as a reclining-back function. Besides the massager, Ceragem will also present new health car