Lawmakers call for probe into 4 trillion-won cryptocurrency fraud

SEOUL, October 8 (AJP) - Democratic Party lawmakers Yang Moon-suk and Min Hyung-bae called for a thorough investigation into a cryptocurrency fraud that has caused an estimated four trillion won ($29.7 billion) in damages, during a National Assembly audit in Seoul on Monday. The so-called "KOK" token, promoted through a multi-level marketing scheme, attracted 1.86 million domestic and international investors. Promises of monthly interest rates between 4 percent and 20 perc

October 8, 2024

Game developers to showcase new titles at G-Star 2024

SEOUL, October 08 (AJP) - Korea's largest gaming exhibition, G-Star 2024, is set to showcase a range of new titles when it opens on Nov. 14 in Busan. The four-day event, sponsored by leading game developer Nexon for the first time in seven years, is expected to feature a record-breaking 3,281 booths, including 2,364 in the business-to-consumer (B2C) area and 917 in the business-to-business (B2B) section. Several major gaming companies have confirmed their participation, inclu

October 8, 2024

OPINION: Nobel prize in medicine awarded for discovery of microRNAs, molecules that control our genes

SEOUL, October 8 (AJP) - Two scientists, Victor Ambros (UMASS Chan Medical School in the U.S.) and Gary Ruvkun (Harvard Medical School in the U.S.), have won the 2024 Nobel prize in medicine or physiology. They received the prestigious award for discovering tiny molecules in our cells called microRNAs. This discovery has not only changed our understanding of how our bodies work, but opens up a whole new area of science as well. It even extends into new treatments. These molecules

October 8, 2024

SK Bioscience to acquire stake in U.S. biotech firm

SEOUL, October 8 (AJP) - SK Bioscience, developer of Korea's first domestically produced COVID-19 vaccine, said Tuesday it will invest $3 million to acquire a stake in U.S.-based Fina Biosolutions. Fina Biosolutions possesses key technologies for conjugate vaccines that prevent diseases such as pneumococcal, meningococcal and typhoid fever. The company holds proprietary technology for manufacturing the CRM197 protein carrier, crucial in developing conjugate vaccines. SK Biosc

October 8, 2024

PHOTOS: 'Culinary Class Wars' contenders meet press ahead of finale

SEOUL, October 07 (AJP) - The top eight contestants and producers of Netflix's hit show “Culinary Class Wars” held a news conference in Seoul on Monday, one day before the final round airs. The show, which pits 80 unknown chefs against 20 celebrity chefs in a culinary competition, has been the most-watched non-English series on the platform for two weeks since its release on Sept. 17. Judged by restaurateur Paik Jong-won and Michelin-starred chef Ahn Sung-jae, the series wi

October 7, 2024

Toy market for adults surges as 'kidults' seek childhood nostalgia

SEOUL, October 7 (AJP) - Kim Geun-tae, a 27-year-old chip industry employee, recently found himself drawn to Loopy, a pink beaver character from the children's TV series “Pororo.” "I was so captivated by Loopy's expressive emojis on KakaoTalk that I ended up purchasing every series available," Kim said. Upon learning of a Loopy-themed pop-up store in Seoul, he made the hours-long trip from his home in Daejeon, just to buy a plushie and a figurine of

October 7, 2024

Two dozen minors earn millions annually in Korea

SEOUL, October 7 (AJP) - About two dozen minors in Korea have earned over 100 million Korean won annually over the past five years, according to data released by the National Health Insurance Service (NHIS) on Monday. Data also showed that there were 360 business owners who are teenagers or under, as of August this year. Among them, 20 earned over 100 million won, 41 between 50 million and 100 million won, and the rest below 50 million won. One of these young high-earners was under

October 7, 2024

Korean regulator to investigate TikTok's potential privacy law violations

SEOUL, October 7 (AJP) - Korea's media regulator plans to investigate TikTok for potential violations of information and data protection rules, industry sources said Monday. The Korea Communications Commission (KCC) is examining the social video platform's policy, which automatically requires users to consent to receiving marketing and advertising materials during sign-up, while such consent should be optional under the nation's information act. The KCC plans to inves

October 7, 2024

Surge in unpaid wages for foreign workers in Korea amid economic downturn

SEOUL, October 7 (AJP) - An increasing number of foreign workers in Korea have faced issues with receiving their wages or experiencing delays in receiving their wages. According to a report by People Power Party (PPP) lawmaker Kim So-hee based on data from the Korea Workers' Compensation and Welfare Service on Monday, government payouts to cover these unpaid wages have nearly doubled over the past four years. In 2022, about 79.1 billion Korean won (US$58.8 million) in back wa

October 7, 2024

DeepBrain AI showcases deepfake detection technology at US industry show

SEOUL, October 7 (AJP) – Korean artificial intelligence firm DeepBrain AI presented its deepfake detection solution at a U.S. industry exhibition last month, the company announced on Monday. DeepBrain AI showcased its four key products at the LG NOVA InnoFest 2024, held in San Francisco, California, from Sept. 25-26. The technology detects manipulated content by analyzing pixel differences and has already been commercialized for government agencies in Korea. The company

October 7, 2024