SK hynix secures $458m subsidy for US advanced chip packaging facility

SK hynix, the world’s second-largest memory chip maker, has finalized a deal with the US government to secure direct funding of up to $458 million for building its advanced chip packaging plant in the US, safeguarding the grant ahead of President-elect Donald Trump's second term. As the US Commerce Department finalizes chip grants for all four major chip manufacturers, including SK hynix, attention now shifts to when the crosstown rival Samsung Electronics will also complete the deal

IndustryDec. 20, 2024

Taipei Fubon Bank to launch first office in Seoul

Taipei Fubon Bank, the banking arm of Taiwan's Fubon Financial Holding, is waiting to receive the final nod from the local authorities to launch its first office in Seoul. South Korea’s Financial Supervisory Service recently completed its review of the Taiwanese commercial bank’s office establishment application and forwarded its opinion to the Financial Services Commission, an FSS official confirmed Thursday. “Foreign banks can establish new offices through a reporting sy

IndustryDec. 20, 2024

[From the Scene] Tech meets trash: Transforming plastic recycling for sustainable future

BUSAN -- At Saenggok Industrial Complex in Gangseo-gu, Busan, a plastics recycling factory bustles with activity. Though Busan, South Korea's second largest port city, is already home to several companies and research institutions specializing in recycling, Yuil Industries is a pioneer. The factory here introduced the first optical automatic sorting machine for plastics recycling, which sorts plastics based on their type, color and composition much more quickly than previous methods. The fa

Social AffairsDec. 20, 2024

Culture minister Yu In-chon denies involvement in closure of K-Arts

Culture Minister Yu In-chon on Wednesday addressed the controversy surrounding the closure of the Korea National University of Arts (K-Arts) during the martial law rule declared by President Yoon Suk Yeol on Dec. 3, refuting claims that he had ordered the move. “It appears that the government nighttime on-duty officer’s recommendation to ‘restrict access’ was communicated to the Culture Ministry’s on-duty staff, who then relayed it to the affiliated educational inst

CultureDec. 20, 2024

Gen Z students want answers about grades, and they're not afraid to ask

A new wave of assertiveness is sweeping through South Korean universities, challenging long-held traditions of professorial authority. Today’s students are becoming increasingly vocal about their academic rights, especially concerning their grades. "When I first started teaching here, students would barely come in after major exams to ask for clarification," said a Korean professor who wished to be identified simply as Don. He has been teaching international relations at a privat

Hashtag KoreaDec. 20, 2024

Gen Z spending habits: What do they prioritize?

"I recently bought several wood models" Ryu Hye-won, 24, female For Ryu, a graduate student, a childhood love for building wood models has grown into a cherished hobby. "The cute, colorful designs of these models draw me the most. But beyond their look, what keeps me coming back is the sense of achievement I feel when I complete a model," she said. Unlike the often unresolved nature of academic work, wood models provide her with a sense of closure and accomplishment. She sh

Hashtag KoreaDec. 20, 2024

Actor Kim Tae-ri to showcase hanbok on Times Square billboard on Christmas Eve

Actor Kim Tae-ri will spotlight hanbok this Christmas Eve with her photoshoot video being displayed on the iconic Times Square billboard in New York. The Ministry of Culture, Sports and Tourism, along with the Korea Craft and Design Foundation, announced Thursday that the video will be featured on the Times Square screen on Dec. 24, local time, as part of an initiative to promote hanbok globally. For this year’s project, four domestic brands were selected through a competition to design ha

CultureDec. 20, 2024

Seoul Facilities Corporation to host ‘Winter Land’ festival

Seoul Facilities Corporation kindles the Christmas spirit with the “Winter Land” festival at Seoul Children’s Grand Park in Gwangjin-gu, Seoul. The festival, running from Saturday through Dec. 25, features a range of attractions, including a festive Christmas market, winter activities and themed photo zones. “We will expand various cultural and leisure programs that enhance the quality of life, striving to make the Seoul Children’s Grand Park a comfortable and attra

TravelDec. 20, 2024

KB Kookmin Card obtains merger nod for Cambodian subsidiaries

KB Kookmin Card said Friday that it has received approval from Cambodia’s Ministry of Commerce to merge its two local subsidiaries -- auto finance firm KB Daehan Specialized Bank and leasing company i-Finance Leasing. Under the merger, iFL will be integrated into KDSB, with the new entity retaining the name KB Daehan Specialized Bank to leverage its brand recognition. “By merging our Cambodian subsidiaries, we have established a foundation for sustainable growth in the global market,

IndustryDec. 20, 2024

GOT7 to return as full group after 3 years

GOT7 is gearing up for a comeback under a new agency. The 7-member K-pop group will make a long-awaited return as a full group with the release of its new mini-album "Winter Heptagon" on Jan. 20, 2025. This marks its first group activity in nearly three years after the release of its 12th mini-album "GOT7" in May 2022. Although GOT7’s exclusive contracts with JYP Entertainment, the group's original agency, ended in 2021, the group retained the trademark rights to t

K-popDec. 20, 2024

Hyundai Motor Group donates W35b to help people in need

Hyundai Motor Group announced Friday that it contributed 35 billion won ($24 million) to the Community Chest of Korea for the charity organization’s annual fundraising campaign. “Hyundai Motor Group made the donation as supporting neighbors and solving diverse social problems by sharing is one of the important roles that companies should play,” Hyundai Motor Group President Chang Jae-hoon said in a statement. Along with Chang, Executive Vice President Hahn Suk-won and CCK Chair

IndustryDec. 20, 2024

National Assembly’s impeachment committee readies for 1st hearing next week

The South Korean National Assembly’s impeachment investigation committee, which will serve as a prosecutor in the Constitutional Court’s impeachment trial of President Yoon Suk Yeol, began preparations Friday for its first hearing set for Dec. 27. The panel, comprising 11 lawmakers from the three opposition parties and 17 legal representatives who will assist the lawmakers, held its second round of meetings on Friday. The People Power Party lawmakers expressed their intention not t

PoliticsDec. 20, 2024

Arrest warrant requested for military intelligence commander

A join investigation team probing the martial law case requested an arrest warrant Friday for the chief of the Defense Intelligence Command on suspicion of taking part in martial law operations. Maj. Gen. Moon Sang-ho, detained by investigators earlier this week, is suspected of sending troops in his command to the National Election Commission's office in Gwacheon, just south of Seoul, on Dec. 3 after President Yoon Suk Yeol declared martial law. He is also suspected of discussing martial l

PoliticsDec. 20, 2024

N. Korea's flood victims brought to Pyongyang write letters of thanks to leader Kim

North Korean victims of late July's floods in the country's northern border region have written letters of thanks to North Korean leader Kim Jong-un while wrapping up their four-month stay in Pyongyang, the North's state media reported Friday. In August, Kim ordered more than 15,000 vulnerable flood victims from the North Phyongan, Jagang and Ryangang provinces, including children, the elderly and sick people, to be brought to Pyongyang and provided with shelter. North Korea held

North KoreaDec. 20, 2024

Vincent van Gogh's exhibition in Seoul explores his decade-long career

Vincent van Gogh’s masterpieces have arrived in Seoul, offering a journey through the artist’s 10-year career. The exhibition “The Great Passion: Van Gogh” at Seoul Arts Center’s Hangaram Art Museum marks the Dutch Postimpressionist’s largest exhibition in the city by number of works. The exhibition showcases 76 oil paintings and drawings from the Kroller-Muller Museum in Otterlo, Netherlands, which holds the second-largest collection of Van Gogh’s works

Arts & DesignDec. 20, 2024

After Disney+ adaptation, 'Light Shop' webtoon sees explosive popularity

“Light Shop,” the webtoon behind Disney+’s original series of the same name, is enjoying a dramatic surge in popularity following the success of its adaptation. After episodes 5 and 6 of Disney+’s "Light Shop" were released on Dec. 11, Kakao Entertainment -- the platform distributing the webtoon -- reported a 187-fold increase in views of the original webtoon on Kakao Webtoon and Kakao Page. Revenue from the webtoon also grew 159 times during the same period,

TelevisionDec. 20, 2024

Medical student sentenced to 26 yrs in prison for murdering his girlfriend

A Seoul court on Friday sentenced a medical school student to 26 years in prison on charges of murdering his girlfriend for allegedly breaking up with him. The 25-year-old, surnamed Choi, who attended a medical school in Seoul, was indicted with physical detention for stabbing his girlfriend to death on the rooftop of a building in southern Seoul on May 6. The Seoul Central District Court handed down the sentence for Choi, saying he had "brutally murdered" the victim, who was blindside

Social AffairsDec. 20, 2024