Latest news
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PHOTOS: WeMakePrice processes refunds amid payment delay crisis
SEOUL, July 25 (AJU PRESS) - Over 700 customers received refunds after waiting up to six hours at WeMakePrice's headquarters in Seoul on Thursday, as the e-commerce platform struggles to manage a growing payment crisis. WeMakePrice and Tmon have been delaying settlements with sellers since early July, prompting some businesses to cancel products and withdraw from the sites. Damages are estimated to exceed 100 billion won ($72.23 million). The crisis stems from a liquidity crunch involv
July 25, 2024 -
E-commerce payment crisis spreads rapidly across multiple sectors
SEOUL, July 25 (AJU PRESS) - The payment delay crisis at South Korean e-commerce platforms Tmon and WeMakePrice is intensifying, impacting the travel, accommodation, electronics, food, gaming, and entertainment industries as of Thursday. Vendors are facing financial strain, while consumers are worried about cancellations and refunds due to prolonged payment delays to sellers, stemming from a liquidity crunch involving their Singapore-based parent company, Qoo10. The two platforms
July 25, 2024 -
Children in Seoul feel happier after pandemic blues, survey shows
SEOUL, July 25 (AJU PRESS) - Children and teenagers living in Seoul are feeling happier compared to a few years ago during the height of the coronavirus pandemic, according to a recent survey released by the Seoul Metropolitan government on Thursday. The biannual survey of Seoul's 2,520 households with children aged 18 and under showed that their level of happiness was 2.3 points on a 3-point scale, up 22 percent from an average of 1.88 points in 2021. During the pandemic, al
July 25, 2024 -
PHOTOS: North Korea's trash balloons land at South Korea's National Assembly
SEOUL, July 25 (AJU PRESS) - Debris from trash-filled balloons from North Korea was found Thursday near South Korea's National Assembly building in Seoul. Police cordoned off the site for investigation. On Wednesday, similar garbage balloons landed inside the presidential compound and the National Assembly compound. Pyongyang has been sending balloons carrying wastepaper and other garbage, including human feces, since May, in retaliation against propaganda leaflets sent across the bord
July 25, 2024 -
PHOTOS: Despicable Me 4 clebrates release with Interactive pop-up at Seoul's DDP
SEOUL, July 24 (AJU PRESS) - "Despicable Me 4," which made history as the first animated franchise to surpass $5 billion at the global box office, is set to be released in Korean theaters on July 24. To celebrate the film's release, a special experiential pop-up exhibition called "Design Vibes: A Despicable Me Summer Vacation," is being held from July 17 to August 3 at Dongdaemun Design Plaza (DDP) in Jung-gu, Seoul. This special pop-up marks the inaugural collaboratio
July 25, 2024 -
LG Electronics posts record sales, operating profit in second quarter
SEOUL, July 25 (AJU PRESS) - LG Electronics reported record-high sales and operating profit for the second quarter on Thursday, driven by strong performance in its core home appliance and automotive electronics businesses. Consolidated revenue increased 8.5 percent year-on-year to 21.69 trillion won ($16.8 billion), and operating profit soared 61.2 percent to 1.20 trillion won, setting new records for both metrics in a second quarter. Net profit jumped 222.3 percent to hit 629.5 bil
July 25, 2024 -
Hyundai Steel files anti-dumping petition against Chinese steel plate manufacturers
SEOUL, July 25 (AJU PRESS) - Korea’s Hyundai Steel has filed an anti-dumping petition against Chinese thick steel plate manufacturers, claiming damage from lower-priced Chinese exports, industry sources said Thursday. The Korean steelmaker recently submitted a complaint to the Ministry of Trade, Industry and Energy. The ministry is expected to review the case for about two months before deciding whether to launch a formal investigation. Thick plates, typically 6 millimeters
July 25, 2024 -
SK hynix posts record revenue driven by AI chips
SEOUL, July 25 (AJU PRESS) – SK hynix said Thursday its revenue soared 124.8 percent year-on-year to a record 16.42 trillion won ($12.7 billion) in the second quarter, driven by strong demand for artificial intelligence and other high-capacity chips. Sales surpassed the previous record of 13.81 trillion won set in the second quarter of 2022. The Korean chipmaker also turned a profit in the April-June period, with an operating profit of 5.47 trillion won and a net profit of 4.1
July 25, 2024 -
Aging Korea sees daycare centers vanish while elderly facilities increase
SEOUL, July 25 (AJU PRESS) - Amid Korea's super-low birth rate, an increasing number of daycare centers are closing down while facilities catering to the growing elderly population are on the rise. According to statistical data released by the Ministry of Health and Welfare on Thursday, some 28,954 daycare centers across the country closed last year, down nearly 2,000 from 30,923 the previous year. The massive closure is mainly attributed to the country's rapidly shrinki
July 25, 2024 -
LG CNS expands into Japanese educational technology market
SEOUL, July 25 (AJU PRESS) – LG CNS, a South Korean IT services provider, is entering Japan's educational technology market in partnership with the local educational company AEON. LG CNS said Thursday that the two companies have signed a memorandum of understanding to implement digital transformation across AEON’s network, which operates over 300 language schools. The projects include developing an AI-powered English conversation app for Japanese public schools an
July 25, 2024
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PHOTOS: Retro street in central Seoul faces uncertain future
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PHOTOS: Seoul Summer Beach transforms Gwanghwamun into urban water park
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PHOTOS: Incheon Airport gears up for summer travel boom
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From lovebugs to nutrias: Korea grapples with growing threat of alien species
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Dark web drug ring with 4,000 buyers busted
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Defense chiefs of S. Korea, US, Japan to meet in Tokyo next week
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Actor Yu Ah-in booked on allegations of sexually assaulting man in his 30s
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Amid e-commerce settlement dispute, Tmon begins refunds after customers occupy office
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Peruvian Embassy in Seoul celebrates Independence Day
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Korea Eximbank, IDB sign $300 million co-financing deal for Latin America infrastructure projects