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N. Korea expresses full support for Palestinian UN membership
Afghanistan floods devastate villages, killing 315
1 passenger dies after falling overboard on cruise ship
[Herald Interview] Sculptor inspired by childhood friend nature
LG Electronics CEO offers to pay $1m salary to top AI talents
Hybe-Ador CEO conflict gets messier
[Contribution] Korea should prioritize innovation, not misguided platform regulation
Battery makers ramp up efforts to diversify graphite supply chain
Yoon names new military manpower chief
Popular online game soundtracks recreated as traditional music
[LLG] Unseen inheritance: Trauma of transnational adoption 'trickles down' to adoptees' children
Samsung Electronics microwave tops European market
[Photo News] Empowering jobseekers
Court's ruling set to shape path of medical school expansion
Motional delays self-driving service launch to 2026 following Hyundai investment
Loans of self-employed swell 50% in four years
‘Monk’ DJ spreading Buddhism goes global
Prosecutors to summon pastor who allegedly gave Dior bag to first lady
Ruling party interim leader appoints new leadership committee members
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Loans of self-employed swell 50% in four years
May 12, 2024
The reliance on bank loans among self-employed South Koreans has surged considerably since the onset of the pandemic, with the overall loan volume and the default rate rising steeply in the past four years. According to data from the nation's major credit ratings firm Nice, provided to Rep. Yang Kyung-sook of the main opposition Democratic Party of Korea, the outstanding loans to self-employed individuals from local financial institutions totaled 1,112.74 trillion won ($811 billion) as of the
Science Ministry expresses regret over Japan’s pressure on Naver
May 10, 2024
The Science Ministry on Friday expressed regret over the Japanese government’s pressure on Naver to shed its ownership stakes in the popular messaging app Line, hinting at "strong and stern" measures if necessary. “The Seoul government's firm position is that we’ll ensure Korean companies, including Naver, are not subject to any unreasonable measures related to overseas business and overseas investment,” Second Vice Science Minister Kang Do-hyun told reporters
Bithumb to pay W40b taxes for crypto airdrop winners
May 10, 2024
Korea's major cryptocurrency exchange Bithumb said Friday that it will cover all the 40 billion won ($30 million) of taxes imposed on the winners of its crypto airdrop events. According to Bithumb, some 10,700 users were slapped with a combined 20 billion won in taxes last year for their compensations, including virtual assets and paybacks on commission, worth 83 billion won earned after participating in its multiple airdrop events held between 2018 and 2021. In Korea, the tax authorities hav
Korean Air in talks to sell five B747 jets to Sierra Nevada
May 10, 2024
Korean Air is in talks with Sierra Nevada Corporation, the US aerospace and defense firm, to sell its five B747-8i jets in an apparent move to boost its operational efficiency ahead of its planned merger with Asiana Airlines. According to industry sources on Friday, Korean Air held a board meeting Wednesday and decided to sell the planes to Sierra Nevada. The deal, valued at about 918 billion won ($674 million), is expected to be completed by September 2025. Currently, the company owns nine un
Naver Cloud, Philippines' Converge team up for DX innotation
May 10, 2024
Naver Cloud, the cloud computing arm of Korea's IT giant Naver, said Friday it has teamed up with Philippine fiber optic internet provider Converge ICT Solutions to speed up digital transformation in the Southeast Asian country. Under the deal, the two sides agreed to collaborate to discuss ways to leverage Naver’s expertise to deliver innovative cloud solutions for the specific needs of Filipino customers. Converge is the fastest-growing broadband provider in the Philippines with a fib
HD Hyundai unveils uncrewed vessel concept at US expo
May 10, 2024
Korean shipbuilding giant HD Hyundai said Thursday that it has unveiled a prototype for its upcoming uncrewed surface vessel Tenebris at this week’s AI Expo for National Competitiveness in Washington, DC. The recent unveiling, a collaboration with US tech firm Palantir Technologies, comes after the two firms signed a memorandum of understanding in April to jointly develop an USV by 2026. Named after the Latin word for darkness, Tenebris is designed for reconnaissance missions in enemy pr
LG CNS launches Gen AI Studio for corporate clients
May 10, 2024
LG CNS on Thursday opened its Gen AI Studio, a new venue for its corporate clients to experience business solutions using generative AI. The latest opening aims to offer systematic assistance to companies that seek to explore generative AI but find themselves uncertain about where to begin. Its programs, consisting of Gen AI Tour, Gen AI Discovery Workshop and Gen AI Prototyping, showcase potential applications of generative AI across industries and value chains. Companies can experience the
Bridging hope: Daewoo E&C wins large-scale bridge projects in India, Africa
May 10, 2024
Daewoo Engineering and Construction has been showcasing its engineering prowess not only domestically but also internationally, winning a series of large-scale bridge construction projects. On home soil, Daewoo E&C constructed the Dongjak Bridge, the first combined railway and roadway bridge in South Korea in 1984. Since then, they have successfully completed numerous bridges, including the Gwangan Bridge, Cheonsa Bridge, and the Geoga Bridge, which features the country’s first underw
Financial regulator to complete short selling probe this year
May 10, 2024
South Korea's chief financial regulator, Financial Supervisory Service Governor Lee Bok-hyun, said the agency plans to conclude its ongoing investigation into illegal short selling by the end of the year. He made the statement during a meeting with a group of reporters on Thursday. "We've completed investigations into some companies and made significant progress with three others. About five companies remain, and, if possible, our goal is to wrap up the investigation by the end of this ye
Yoon doubles down on repeal of financial investment income tax
May 9, 2024
President Yoon Suk Yeol on Thursday has expressed a strong willingness to rescind the introduction of capital gains taxes on financial investment incomes, asserting the legislation would bring massive outflow of funds from the country’s capital market. “Not only is the understanding of 14 million retail investors at stake, but if the capital market collapses and fails to function properly, it will have a significant impact on the real economy,” Yoon said during a press confere
Minister says chip subsidy a ‘tall order’
May 9, 2024
Government policy to focus more on creating favorable environment for large-scale investments
Over 80,000 millionaires, 20 billionaires in Seoul: report
May 8, 2024
Korean capital outnumbers Tokyo when it comes to billionaires
Mirae Asset Securities reaps fruits of global growth
May 8, 2024
Marking 20 years of Hong Kong unit, brokerage firm looks to take leap in India
Kakao Bank hits record high quarterly profit in Q1
May 8, 2024
South Korean online-only lender Kakao Bank announced Wednesday that its net profit hit a record high of 111.2 billion won ($81.44 million) in the first quarter, a 9 percent increase from the previous year. Operating profit for the same period was 148.4 billion won, up 8.8 percent from last year. The bank said it achieved balanced growth across various business sectors, driven by a steady increase in customer numbers and the successful launch of products and services. Total customer numbers g
Minister pledges support for Naver in Line dispute
May 8, 2024
Korea will put Naver’s interest in the forefront in coming up with countermeasures to cope with the Korean IT firm’s conundrum of the Japanese government’s pressure on Naver to give up its ownership in Line, a leading messaging app in Japan that Naver has fostered for over a dozen years, the Korean science minister said Wednesday. “Regarding Japan’s administrative guidance of (Line), we have been continuously and closely cooperating with Naver to guarantee the max
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