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South Korea sees economic recovery for sixth month

South Korea sees economic recovery for sixth month

Fri, Oct 18, 2024

South Korea's finance ministry saw a continued economic recovery for the sixth straight month on Friday thanks to robust export and manufacturing production.

Number of COVID-19 inpatients surges sixfold in four weeks in South Korea

Number of COVID-19 inpatients surges sixfold in four weeks in South Korea

Fri, Aug 09, 2024

South Korea has seen a sharp increase in COVID-19 hospitalizations, reaching 861 in the first week of August—the highest since early February. This surge, driven by the KP.3 omicron subvariant, has led health authorities to enhance monitoring and prepare for a vaccination campaign in October. Most patients have mild symptoms, but efforts are being made to secure medicine and test kits and to protect high-risk groups.

South Korea's economically active elderly people hit record high in 2024

South Korea's economically active elderly people hit record high in 2024

Tue, Jul 30, 2024

Of the elderly employed, the largest 12.8 per cent was engaged in the health care and social welfare sector, followed by the agricultural, livestock and fishery industry with 12.4 per cent and the manufacturing industry with 12.2 per cent.

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Hyundai starts preorders for Casper electric SUV in South Korea

Hyundai starts preorders for Casper electric SUV in South Korea

Tue, Jul 09, 2024

Hyundai launches preorders for its Casper Electric mini SUV in South Korea, expanding soon to global markets under the name Inster, with a focus on the high-performance "Inspiration" variant.

LG Energy Solution's operating profit plunges 58 % as EV sales slip

LG Energy Solution's operating profit plunges 58 % as EV sales slip

Mon, Jul 08, 2024

Operating profit for the three months ended in June is estimated to have plummeted to 195.3 billion won ($142 million) from 460.6 billion won in the same period of last year, LGES said in a statement.

SK Group to secure $58 billion for AI, chip investments by 2026

SK Group to secure $58 billion for AI, chip investments by 2026

Sun, Jun 30, 2024

Some 20 chief executives of the group's major affiliates gathered at its research centre in Icheon, 58 kms southeast of Seoul, from Friday to Saturday to come up with investment plans for future growth, SK Group said in a statement.

South Korea's pharmaceutical, biotechnology exports surge 55% in H1

South Korea's pharmaceutical, biotechnology exports surge 55% in H1

Sat, Jun 29, 2024

In the first six months of the year, the country exported 4.5 trillion won ($3.26 billion) worth of pharmaceutical and biotechnologies, up 55 per cent from 2.9 trillion won (about $2.09 billion) for the same period last year, according to the data from the Korea Pharmaceutical and Bio-Pharma Manufacturers Association.

South Korea, US discuss expanding cooperation in chip technology and supply chain stability

South Korea, US discuss expanding cooperation in chip technology and supply chain stability

Fri, Jun 28, 2024

South Korea and US semiconductor lobby groups discuss expanding bilateral cooperation in technology research and supply chain stability during the US-Korea Supply Chain and Commercial Dialogue Semiconductor Forum in Washington

US-based geoscience firm keen on oil exploration project in South Korea

US-based geoscience firm keen on oil exploration project in South Korea

Tue, Jun 04, 2024

President Yoon Suk Yeol earlier said that South Korea will push to embark on the project in the East Sea after a study suggested significant oil deposits may be buried in the deep sea off the coast of Yeongil Bay in Pohang, about 260 kms southeast of Seoul, reports Yonhap news agency.

South Korea to invest $1.8 billion in next-generation nuclear reactors

South Korea to invest $1.8 billion in next-generation nuclear reactors

Tue, Jun 04, 2024

The investment aims to foster private companies that can build next-generation nuclear reactors and commercialise the technology, according to the Ministry of Science and ICT.

Biocon inks licensing, supply pact with South Korea's Handok for chronic weight management product

Biocon inks licensing, supply pact with South Korea's Handok for chronic weight management product

Fri, May 24, 2024

Under the agreement Biocon will undertake the development, manufacturing and supply of the drug product, and Handok, a specialty pharmaceutical firm, will be responsible for obtaining regulatory approval and commercialisation in the South Korean market, the company said in a statement.

Sales to China support ASML's first-quarter earnings despite weak bookings

Sales to China support ASML's first-quarter earnings despite weak bookings

Wed, Apr 17, 2024

Net income in the first quarter was 1.22 billion euros, down from 2.05 billion euros in the fourth quarter of 2023 but slightly better than expected, according to LSEG data.

South Korea expands telemedicine service to community health centres

South Korea expands telemedicine service to community health centres

Wed, Apr 03, 2024

South Korean government allowed community health centres to provide remote clinical services via video or phone appointments, amid disruptions to public health services at major hospitals for more than six weeks due to a mass walkout by junior doctors, a senior official said.

Japan saw record 2.79 million visitors in February due to Lunar New Year boost

Japan saw record 2.79 million visitors in February due to Lunar New Year boost

Tue, Mar 19, 2024

Arrivals in February were 7.1 per cent higher than in 2019 when the Lunar New Year also fell in the second month of the year rather than the first.

Philippines sees up to $6 billion of investments in casino sector in next 5 years

Philippines sees up to $6 billion of investments in casino sector in next 5 years

Tue, Mar 19, 2024

The Philippines' freewheeling gaming industry is bracing for regional competition from Japan, which has approved its first casino, and Thailand, which is again considering legalising casinos.

Chinese giant Alibaba plans to invest $1.1 billion in South Korea

Chinese giant Alibaba plans to invest $1.1 billion in South Korea

Thu, Mar 14, 2024

Alibaba also plans to spend $100 million to help small and midsized South Korean firms sell their products overseas, the document showed.

Amazon Ascends, Tesla Tumbles: Bezos Overtakes Musk as World's Richest

Amazon Ascends, Tesla Tumbles: Bezos Overtakes Musk as World's Richest

Wed, Mar 06, 2024

In a dramatic shift, Elon Musk cedes his title as the world's richest person to Jeff Bezos, following a 7.2% decline in Tesla's stock value. The Tesla CEO's fortune takes a hit amidst market fluctuations, allowing Bezos, the Amazon founder, to reclaim the top spot on the wealth leaderboard.

South Korea's economy grew faster than expected in Q4

South Korea's economy grew faster than expected in Q4

Thu, Jan 25, 2024

The Bank of Korea hinted this month that it may pivot towards monetary easing along with its global peers, as the central bank held interest rates steady for an eighth meeting.

Microsoft, Qcells strike massive supply deal for US-made solar panels

Microsoft, Qcells strike massive supply deal for US-made solar panels

Tue, Jan 09, 2024

Qcells said the collaboration with Microsoft will help it establish a solar supply chain in the United States to compete with China.

Hyundai Motor sets 2024 global sales target of 4.24 million vehicles

Hyundai Motor sets 2024 global sales target of 4.24 million vehicles

Wed, Jan 03, 2024

Its affiliate Kia Corp said it aims to sell 3.2 million vehicles globally, unchanged from its 2023 target.

South Korea signs contract to buy 20 additional F-35A stealth fighter jets

South Korea signs contract to buy 20 additional F-35A stealth fighter jets

Wed, Dec 27, 2023

The Defence Acquisition Program Administration (DAPA) signed the letter of acceptance for the purchase of the fighter jets built by US aerospace company Lockheed Martin on December 8, following Washington's approval of the sale in September.

Earthquake Today: 3.0 magnitude quake felt in South Korea

Earthquake Today: 3.0 magnitude quake felt in South Korea

Sat, Dec 23, 2023

Earthquake Today: The quake struck 17 kilometers north of Jangsu, 216 km south of Seoul, at 4:34 a.m. at a latitude of 38.5 degrees north and a longitude of 127.53 degrees east at a depth of 6 km, Yonhap News Agency reported.

South Korea to suspend part of military pact after North claims spy satellite launch

South Korea to suspend part of military pact after North claims spy satellite launch

Wed, Nov 22, 2023

South Korea's National Security Council said in a statement the move would involve restoring reconnaissance and surveillance operations around the military demarcation line between the countries.

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