SEOUL, Feb. 18 (Korea Bizwire) — South Korea’s ICT ministry said Thursday it will spend 670 billion won (US$607 million) by 2023 to bolster the country’s cyber security capabilities to respond to growing new digital threats. The Ministry of Science and ICT said it will develop infrastructure to quickly respond to cyber security threats, by [...]
SEOUL, Feb. 18 (Korea Bizwire) — The proportion of unregistered foreigners in South Korea is nearing the 20 percent milestone, setting an unprecedented record. The Ministry of Justice reported that 19.3 percent of all foreigners in South Korea last year were unregistered, up by 3.8 percentage points since the previous year (15.5 percent). The proportion [...]
SEOUL, Feb. 18 (Korea Bizwire) — Hyundai Motor Co. said Thursday it will partner with LG Energy Solution Ltd. and a local taxi operator for a pilot battery lease program for electric taxis. The nation’s largest automaker and battery maker and KST Mobility, the operator of Macaron Taxi, signed a memorandum of understanding at Hyundai’s [...]
SEOUL, Feb. 18 (Korea Bizwire) – Celltrion Inc. said Thursday that its anti-COVID-19 monoclonal antibody treatment has confirmed neutralizing potency against the British variant, and the South Korean pharmaceutical giant has also begun developing a neutralizing antibody cocktail treatment. CT-P59, an anti-COVID-19 monoclonal antibody treatment, won the country’s drug safety agency’s conditional approval earlier this [...]
SEOUL, Feb. 18 (Korea Bizwire) — The CEO of South Korea’s top food delivery app operator, Woowa Brothers Corp., said Thursday that he will donate more than half of his wealth, estimated to be more than 1 trillion won (US$905 million). “My wife Bomi Sul and I hereby pledge that we will return more than [...]
SEOUL, Feb. 18 (Korea Bizwire) — The Ministry of Oceans and Fisheries said Wednesday that it will start distributing high-performance biodegradable fishing nets that can be used to catch blue crab and yellow corvina from next month as part of an initiative to protect marine wildlife. The biodegradable fishing nets naturally decompose into water and [...]
SEOUL, Feb. 17 (Korea Bizwire) — While Korean independence heroes, like Ahn Jung-geun, Yoon Bong-gil and Kim Gu, are widely revered and celebrated more than 100 years after the March 1 Independence Movement against Japanese colonizers, little is known about the women who fought alongside these men. As of 2019, which marked the 100th anniversary [...]
SEOUL, Feb. 17 (Korea Bizwire) — With or without Apple, Hyundai Motor Group is in full gear to transform itself from a traditional automaker to a mobility provider. After having been in the media spotlight as a potential partner for Apple’s car project, Hyundai Motor Co. and its affiliate Kia Corp. said last week they [...]
SEOUL, Feb. 17 (Korea Bizwire) — Global luxury brands are raking in huge dividends in the South Korean market, while being stingy about making donations. According to the 2019 audit reports of ten foreign luxury brands, their local branches paid 140.2 billion won (US$126 million) in dividends and commissions to their headquarters. The combined sales [...]
SEOUL, Feb. 17 (Korea Bizwire) — A South Korean research team has developed an artificial intelligence (AI) program that studies the distinct features of patients undergoing joint replacement surgery to predict the risks of side effects. Researchers from Seoul National University Hospital announced Tuesday that they had developed an AI-based web platform that can predict [...]