Nonfungible tokens, once monopolized by cryptocurrency exchanges and auction houses, are creeping into the retail industry, where top players are desperate to seek a new growth engine in a quickly saturating market. NFTs are digital tokens of physical or digital assets, mostly of music or art, that guarantee ownership through blockchain technology. Korean retail channels are also set to expand ...

The US Defense Department on Monday urged China to use its leverage to support and enforce UN Security Council resolutions and enact new UN sanctions, while reiterating its call on North Korea to cease “provocations” and de-escalate tensions. The Pentagon pointed out Beijing’s stonewalling on the international community’s efforts to implement UN economic sanctions on North Korea. Pentagon press...

“Some people say to me, ‘don’t rationalize obesity and laziness under the name of body positivity.’ I’m not trying to spread messages like ‘There’s no need to exercise’ or ‘It’s okay to get fat,’” Park said in a phone interview. The message she is trying to send is that people deserve to be confident and happy, even if their figure is far from tough social standards. “Sometimes, even if you don...

The head of the ruling Democratic Party of Korea announced he will not seek reelection in the next National Assembly, as part of large-scale reforms to the party aimed at boosting support for its presidential nominee, Lee Jae-myung. Rep. Song Young-gil, a five-term lawmaker and the chairman of the Democratic Party, said in a press conference Tuesday that he will not seek to run again as a lawmak...

ASEAN young people also showed considerable interest in Korea, with90.4 percent of ASEAN youth and 97.7 percent of ASEAN youth in Korea showing a high level of interest in the country in the survey. They get the most amount of information and content about Korea via social media, the internet and television programs. Young people in ASEAN member states looked for information regarding Korean foo...

Kim Keon-hee, the wife of presidential nominee Yoon Suk-yeol of the main opposition People Power Party, may be preparing to officially join her husband’s election campaign. Naver, one of the two largest internet portals in South Korea, on Tuesday registered an official profile page for Kim that listed her as an exhibition planner who has served as the president of Covana Contents since 2009. Fou...

Connectivity is key to improving, development, trade and other benefits to ASEAN, and putting the group’s master plan into action is key to achieving it, according to Cambodia, which is chairing the bloc this year. The conversion from key actions under the Master Plan on ASEAN Connectivity (MPAC) 2025 into projects is was crucial to connectivity, Cambodia Ambassador to ASEAN Yeap Samnang said in...

North Korea fired two suspected cruise missiles from an inland area Tuesday morning, its fifth weapons test this year. “North Korea is presumed to launch two cruise missiles this morning,” a South Korean military official told reporters on condition of anonymity. “The missiles are estimated to have traveled mostly inland although further analysis is needed,” the military official said, adding t...

The US’ push to impose UN sanctions on five North Koreans responsible for the regime’s recent missile launches could be delayed for at least six months, after China and Russia blocked the move. Norway, which holds the rotating presidency of the UN Security Council in January, confirmed that China and Russia have put a hold on a US initiative to impose additional UN sanctions on the regime, ac...

Song Ji-ah, a contestant on Netflix’s latest hit reality dating show “Single’s Inferno,” has decided to halt all public activities amid continued controversy over wearing counterfeit luxury fashion items. Song, who is also known as YouTuber FreeZia, uploaded an apology video on YouTube, Tuesday, admitting her misbehaviors. At the same time, she took down all the other videos on her YouTube chann...

South Korean distiller HiteJinro said Tuesday it has launched its 2022 Lunar New Year gift packages consisting of 67 bundles of import wine collections. The gift set comes at a time when more people are opting to drink alone at home amid the protracted coronavirus pandemic. HiteJinro said it is targeting both beginners and devotees, and those in between. The holiday lineup includes Gernard Bert...

LG innotek will pay a combined 144.5 billion won ($120.5 million) of payments to its suppliers weeks earlier than scheduled to support small- and mid-size businesses reeling from the pandemic, the company said Tuesday. The materials arm of LG aims to improve cash flow for partner companies struggling to operate their businesses, invest in facilities, and develop material components in the grip o...

South Korea’s economy grew at an estimated 4 percent on-year in 2021, posting the highest growth rate in 11 years despite omicron woes, central bank data showed Tuesday. The export-reliant economy’s strong recovery in outbound shipments, stable private consumption amid the COVID-19 pandemic, the government’s eased quarantine rules and supplementary budgets drawn up to cushion the blow to the eco...

Mercedes-Benz Korea will focus on launching electric models to complete its EV-lineup in all segments this year, as well as bolstering the supply chain via its online shop, the company said Tuesday. After launching the full-change C-class model in the first quarter, the new EQB will be launched in the second quarter. It is the second compact SUV model following the new EQA. By year-end, the new ...

Using a technology called depolymerization, SK Chemicals turns waste PET bottles into new PET materials. With recycled PET materials, SK Chemicals will produce and supply plastic cutleries starting this month as demand for disposable spoons and forks soar amid the pandemic. “Last month, the Korean government announced a circular economy plan that mandates domestic plastic manufacturers to use re...