SEOUL, May 27 (Korea Bizwire) – South Korea will work to strengthen cooperation with the World Bank as part of efforts to help developing nations advance their agriculture and food technologies, Seoul’s finance ministry said Tuesday. The Ministry of Economy and Finance held an annual meeting with officials from the World Bank in the southeastern [...]
SEOUL, May 27 (Korea Bizwire) – K-pop powerhouse Hybe said Tuesday it will sell its entire stake in rival SM Entertainment to China’s Tencent for 200 billion won (US$145.5 million). In a regulatory filing, Hybe said it will dispose of 2,212,237 shares of SM Entertainment, which represents a 9.38 percent stake in the company. The [...]
PARIS, May 26 (Korea Bizwire) — Renowned Korean soprano Sumi Jo received France’s Commandeur of the Order of Arts and Letters on Monday in recognition of her contributions to French arts and culture. The 62-year-old soprano was awarded the highest rank of the three-tier honor from the French Ministry of Culture during an award ceremony [...]
SEOUL, May 23 (Korea Bizwire) — Heo Ga-young’s “First Summer” has won First Prize in the La Cinef section of this year’s Cannes Film Festival, the Korean Film Council (KOFIC) said Friday. Heo is the first Korean director to receive the top honor in the section, which is dedicated to showcasing exceptional short and mid-length [...]
SEOUL, May 22 (Korea Bizwire) — Lee Hae-jin, founder of South Korea’s top portal Naver Corp., met with Nvidia Corp. Chief Executive Officer (CEO) Jensen Huang in Taiwan on Thursday to discuss cooperation in artificial intelligence (AI) and other key areas, industry sources said. During the meeting, Lee, who serves as chairman of the company’s [...]
SEOUL, May 22 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp. said Thursday they have partnered with Incheon International Airport Corp. for real-world testing of their artificial intelligence (AI)-powered automatic charging robot (ACR) for electric vehicles (EVs). Under a memorandum of understanding, the companies will conduct a pilot test program of the ACR system [...]
SEOUL, May 20 (Korea Bizwire) — South Korea and the European Union (EU) agreed Tuesday on the need to boost cooperation in responding to growing cyberthreats worldwide, including North Korea’s cryptocurrency theft, to ensure a safe and open cyberspace order, Seoul’s foreign ministry said. The two sides shared the understanding during their bilateral policy dialogue [...]
SEOUL, May 19 (Korea Bizwire) — South Korea’s leading food delivery app Baemin is teaming up with local streaming platform Tving to offer a bundled subscription service, in a move seen as a strategic response to growing competition from Coupang Eats, which operates its own streaming platform, Coupang Play. Woowa Brothers, the operator of Baemin, [...]
SEOUL, May 16 (Korea Bizwire) – The chief executive officers (CEOs) of HD Hyundai and Hanwha Ocean Co., South Korea’s major shipbuilders, met with U.S. Trade Representative (USTR) Jamieson Greer to explore cooperation in the shipbuilding sector, the companies said Friday. HD Hyundai CEO Chung Ki-sun and Hanwha Ocean CEO Kim Hee-cheul had separate meetings [...]
SEOUL, May 16 (Korea Bizwire) — Shares of Samyang Foods Inc., known for its globally popular Buldak spicy “ramyeon,” jumped nearly 20 percent after the company reported strong first-quarter earnings. On Friday, Samyang Foods jumped 19.07 percent to 1.18 million won (US$846), far outperforming the broader Korea Composite Stock Price Index (KOSPI), which ended up [...]