INTERVIEW: Entrepreneur calls for greater efforts to attract foreign talent

SEOUL, August 22 (AJP) – South Korea should reform its restrictive immigration policies and conservative business culture to attract more international workers, which is key to addressing looming labor shortages in the rapidly aging country, a study abroad entrepreneur said. Kim Jong-min, CEO of HeyKorea Ventures Inc., said that many Korean companies are employing foreign workers primarily to cut costs or for appearances of diversity, rather than integrating their cont

August 22, 2024

PHOTOS: Homeplus workers take to the streets

SEOUL, August 22 (AJU PRESS) - Workers of Homeplus, a megastore franchise in Korea, protested against the company's potential split-sale outside MBK Partners' headquarters in Jongno, Seoul, on Aug. 22, 2024. The demonstration comes as MBK Partners, the owner of Homeplus, is reportedly preparing to sell off Homeplus Express, the company's supermarket chain brand. Union members also criticized MBK Partners for failing to fulfill a 1 trillion won investment that was promised when it

August 22, 2024

PHOTOS: S. Koreans seek renewable energy option for homes

SEOUL, August 22 (AJU PRESS) - To promote Energy Day and the constitutional appeal, activists held a demonstration and press conference outside the Korea Electric Power Corporation's Seoul headquarters on Aug. 22. On Energy Day, 41 plaintiffs filed a constitutional appeal against laws that allow general and industrial electricity users to purchase renewable energy but exclude residential consumers. South Korean people who use electricity for private purposes are not given options to ch

August 22, 2024

Three Korean skiers dead after car crash in New Zealand

SEOUL, August 22 (AJU PRESS) - Three members of Korea's national ski team were killed in a head-on collision near Geraldine in New Zealand's Canterbury region on Wednesday, according to The Herald. The accident occurred when the vehicle carrying them, traveling in the opposite direction, collided with a sports utility vehicle (SUV). The identities of the victims and the cause of the crash remain unclear. Among the deceased are a national team coach and two alpine ski ra

August 22, 2024

Survey reveals widespread AI adoption among Korean firms

SEOUL, August 22 (AJU PRESS) - Three out of four South Korean companies have either implemented or are piloting artificial intelligence (AI) technologies, according to a study released Thursday. The survey, conducted in March by data storage company Pure Storage and pollster Embrain, involved IT professionals from 200 domestic firms with over 500 employees. The findings indicate that 34.5 percent of businesses have already integrated AI into specific departments, while 39 percent

August 22, 2024

Seoul residents eat less fruit and veg, study reveals

Boxes of grapes are displayed at a supermarket chain in Seoul on Aug. 11, 2024. Yonhap SEOUL, August 22 (AJU PRESS) - Rising prices of fruit and vegetables have taken a toll on the dietary habits of Koreans, a survey reveals. According to a report released by the Seoul Institute on Thursday, based on a long-term analysis of nearly 13,000 residents in Seoul between 2012 and 2021, their average daily fruit consumption decreased by 33.2 percent from 182.4 grams to 121.8 over the decade.

August 22, 2024

Korea's scientific output lags behind heavy investments: Nature

SEOUL, August 22 (AJU PRESS) - South Korea's research output is not keeping pace with its substantial investments in science and technology, as gender gaps, a shrinking population and cultural barriers hinder the country's innovation ecosystem, a new report from Nature said. The prominent science magazine released a special edition of Nature Index focusing on South Korea's research landscape on Wednesday. According to the report, South Korea leads major countries in

August 22, 2024

Underdog Korean high school in Kyoto reaches baseball championship final

SEOUL, August 22 (AJU PRESS) - A small school in the historic town of Kyoto, Japan advanced to the final of Koshien, the island country's annual high school baseball tournament. Kyoto International Junior and Senior High School defeated Aomori Yamada Junior and Senior High School in the semifinals held in Hyogo, western Japan on Wednesday. Only 49 baseball teams from about 4,000 Japanese high schools qualify to compete in the prestigious baseball tournament held every summer.

August 22, 2024

Korean banks log record interest income in first half

SEOUL, August 22 (AJU PRESS) - Korean banks posted a record-high interest income of 29.8 trillion won ($22.3 billion) in the first half of 2024, up 1.4 percent year-on-year, the Financial Supervisory Service (FSS) reported on Thursday. However, net profit for the period declined by 11 percent to 12.6 trillion won, primarily due to a decrease in non-interest income and operating losses from provisions for equity-linked securities (ELS). The FSS noted that banks' interest incom

August 22, 2024

Bank of Korea holds key rate amid property market concerns

SEOUL, August 22 (AJU PRESS) - Korea's central bank kept its benchmark interest rate unchanged at 3.5 percent on Thursday amid concerns over rising housing prices and household debt. The Bank of Korea's (BOK) Monetary Policy Board decided to freeze its seven-day repurchase rate for the 13th consecutive time since February 2023, marking the longest-ever streak of rate holds. The decision was widely expected. Despite BOK Governor Rhee Chang-yong's recent hints in July o

August 22, 2024