SEOUL, Jan. 3 (Korea Bizwire) — Advertising industry experts predict a significant downturn in South Korea’s advertising market this year, citing growing political uncertainties and deteriorating economic conditions. The absence of major sporting events like the Olympics or World Cup has further dampened prospects for market recovery. As concerns mount over economic growth potentially dropping to [...]
SEOUL, Jan. 3 (Korea Bizwire) — HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) said Friday it aims to win over US$18 billion worth of orders this year, partly by focusing on high-end and environmentally friendly ships. This year’s annual order target of $18.12 billion is 34 percent higher than last year’s target of [...]
WASHINGTON, Jan. 2 (Korea Bizwire) — South Korean crypto mogul Kwon Do-hyeong could face up to 130 years in prison if he is convicted of all fraud and other charges, the U.S. Justice Department said Thursday, as he made his initial appearance in a New York court and pleaded not guilty to those charges. Kwon, [...]
GWANGJU, Jan. 3 (Korea Bizwire) — Funerals for five more victims of the fatal Jeju Air plane crash were held in the southwestern city of Gwangju and nearby areas on Friday, after the first four of the 179 victims killed in Sunday’s disaster were laid to rest in services the previous day. Grieving bereaved families [...]
ANDONG, South Korea, Jan. 3 (Korea Bizwire) — Police will investigate a drama production team from public broadcaster KBS for allegedly hammering nails at a UNESCO World Heritage site to hang a prop, officials said Friday. Gyeongbuk Provincial Police said a complaint was filed earlier in the day by a person known as a citizen [...]
SEOUL, Jan. 3 (Korea Bizwire) — SK hynix Inc. said Friday it will showcase its cutting-edge artificial intelligence memory technologies at the upcoming CES 2025, presenting its vision as a comprehensive AI memory provider. The chipmaker, which currently leads the high bandwidth memory (HBM) industry, will set up a joint exhibition booth with SK Group [...]
SEOUL, Jan. 3 (Korea Bizwire) — Samsung Electronics Co. said Friday it will unveil a new television featuring new three-dimensional audio technology developed in partnership with Google at the upcoming CES 2025. The 3D audio technology, Eclipsa Audio, will be integrated into its 2025 TV and soundbar lineup to be premiered at this year’s CES [...]
SEOUL, Jan. 3 (Korea Bizwire) — Investigators attempting to execute a warrant to detain impeached President Yoon Suk Yeol over his failed martial law bid were locked in a standoff with the Presidential Security Service outside the presidential residence Friday. Investigators with the Corruption Investigation Office for High-ranking Officials (CIO) presented warrants to detain Yoon [...]
SEOUL, Jan. 3 (Korea Bizwire) — The military has deployed a new surveillance system using artificial intelligence technology at an eastern front-line unit, the state arms procurement agency said Friday, as the military seeks to harness the advanced technology to better deter North Korean threats. The new system deployed at the Army’s 22nd Infantry Division [...]
SEOUL, Jan. 3 (Korea Bizwire) — Prosecutors on Friday indicted the top commander of the Army and the head of its special warfare unit over their alleged roles in the short-lived imposition of martial law last month. Army Chief of Staff Gen. Park An-su, who served as martial law commander, and Lt. Gen. Kwak Jong-keun, [...]