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Consumer price growth resurged to above 3 percent in February, showing that Korea may be facing stickier-than-expected inflation. Consumer prices, a key gauge of inflation, advanced 3.1 percent on-year last month, according to data from Statistics Korea. Though price growth fell to 2.8 percent in...
A NongHyup Bank employee is being investigated by local police for possible embezzlement reaching nearly 11 billion won ($8.2 million), the bank disclosed on Wednesday. The bank's internal investigation revealed a financial irregularity that could extend up to 10.95 billion won, which is the total...
A research team at the Korea Advanced Institute of Science and Technology (KAIST) has developed the world's first artificial intelligence (AI) semiconductor capable of processing a large language model (LLM) with ultra-low power consumption, the science ministry said Wednesday. The team, led by Pr...
Hyundai Motor and Kia, South Korea's leading automakers, said Wednesday they showcased the latest technologies involving their electric vehicles (EV) at the annual EV Trend Korea exhibition held in Seoul. The annual trade show, now in its seventh year, is hosted by the Ministry of Environment to p...
The dispute between South Korea’s two major shipbuilders -- Hanwha Ocean and HD Hyundai Heavy Industries, housed under Hanwha Ocean and HD Hyundai Heavy Industries, respectively -- is escalating, with Hanwha taking legal action. Hanwha Ocean on Monday filed a complaint with the National Office of...
South Korean travel platform operator Yanolja is making a big push in cloud services, as it seeks to transform itself into a global tech solutions provider. As the company accelerates the expansion of its overseas solutions business, market watchers and investors are paying keen attention to whethe...
According to him, partnering with Abu Dhabi’s vibrant cultural scene offers opportunities for artists and institutions to enhance their global reach and impact. Its annual Abu Dhabi Festival, marking its 21st anniversary this year, attracts almost 20,000 visitors. Having already inked partnership...
South Korea’s gross national income per capita rebounded to over $33,000 in 2023, marking a 2.6 percent rise on-year, while the national economy grew by 1.4 percent, preliminary data from the Bank of Korea showed Tuesday. The GNI per capita, a measure of the amount of money earned per person in a...
According to the Seoul Metropolitan Government’s data, the number of visitors to Yeouido had previously peaked at between 30,000 and 50,000 on Saturdays and Sundays in 2020. But after The Hyundai Seoul’s launch in February 2021, the figure started to rise despite the social distancing rules duri...
The AAM is a concept that encompasses urban air mobility (UAM) that moves short distances within the city, regional air mobility that connects regional bases and an unmanned aircraft system that transport logistics. Under the agreement, Hyundai Motor Group decided to give priority consideration to...
LG Energy Solution said Tuesday that KooRoo, its company-in-company operating the battery swapping station business for electric two-wheelers, is kicking off full-scale operations following a successful pilot program. KooRoo's service allows users to easily swap the depleted batteries of electric ...
South Korea's industry ministry said Tuesday it has discussed ways to enhance bilateral cooperation in the semiconductor sector with the U.S. chipmakers' trade association. Deputy Minister for Trade Yang Byeong-nae met with John Neuffer, the president of the Semiconductor Industry Association (SIA...
Major South Korean builder Daewoo Engineering & Construction (Daewoo E&C) said Tuesday it has successfully conducted a 150 million-Singapore dollar ($111 million) bond sale in the city-state. The five-year bonds, which have received an AA rating from global rating appraiser Standard & Poor's Globa...
In a whirlwind of fierce competition, Chinese e-commerce powerhouses AliExpress and TEMU have been dampening the once-vibrant spirit of retail business startups in Korea. The surge of Chinese e-commerce companies has delivered a significant blow to Korea's startup scene. Their mega-scale, low-cos...
The rise of such specialized offices follows warnings from local financial authorities regarding a significant reduction in branch numbers. According to data from the Financial Supervisory Service, the top four commercial banks -- KB Kookmin, Shinhan, Hana and Woori -- operated 2,824 offline branch...
[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut
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Starbucks Korea to speed up hiring process
Hyundai, KAIST develop world’s 1st technology to extend lifespan of LFP battery
LX Pantos teams up with China's Sinotrans for US, Europe expansion
Miracell showcases stem cell technology at Milan trade show