Qoo10 chief's excessive expansion blamed for financial troubles of Korean e-commerce platforms

SEOUL, July 30 (AJU PRESS) - The CEO of Singapore-based e-commerce company Qoo10 is facing intense scrutiny in Korea as its two local platforms, Tmon and WeMakePrice, are grappling with a payment delay crisis attributed to his aggressive business expansion strategy. The Justice Ministry banned Qoo10 CEO Ku Young-bae from leaving the country on Monday as part of criminal investigations into Ku and the chief executives of its local subsidiaries. The probes were prompted by a complaint

July 30, 2024

Korean researchers discover dark state of electrons in solid matter

SEOUL, July 30 (AJU PRESS) - A team of Korean scientists has identified the existence of a dark state of electrons in solid matter for the first time, potentially advancing the understanding of high-temperature superconductivity. The research, led by Professor Kim Keun-su of Yonsei University, was published in the international journal Nature Physics on Monday. Dark-state electrons, which neither absorb nor emit light, have previously been observed in atoms and molecules. However, t

July 30, 2024

Opinion: Is Paris Olympics' open-water swimming in the Seine safe?

SEOUL, July 30 (AJU PRESS) - Open-water swimming events at the 2024 Olympic and Paralympic Games in Paris could be scuppered by the Seine river, where bathing has been prohibited since 1923. Faecal contamination of the Seine, which winds 777 kilometers through northern France, exceeded the bathing quality standard for safe swimming just two days before the men's and women's triathlon races. Athletes testing the waters before making the plunge to compete have become accustome

July 30, 2024

HD Hyundai Oilbank selected to develop clean energy complex at western port

SEOUL, July 30 (AJU PRESS) - Korea's Ministry of Oceans and Fisheries announced Tuesday HD Hyundai Oilbank has been selected to develop a clean energy complex at Daesan Port on the western coast. The project, part of Korea's national carbon neutrality policy, aims to establish production, storage and distribution facilities for eco-friendly energy sources such as green hydrogen and ammonia. Construction is slated to begin in the first half of 2025, with completion expected b

July 30, 2024

Korea wins third consecutive Olympics title in men's team archery

SEOUL, July 30 (AJU PRESS) - South Korea's dominance in archery reached new heights on Monday as they clinched their third consecutive Olympic gold medal in the men's team event. The trio of Kim Woo-jin, Kim Je-deok, and Lee Woo-seok defeated the home team France 5-1 in a thrilling final at the Invalides. This victory marks the third Olympic gold for Kim Woo-jin, the second for Kim Je-deok, and the first for Lee. With this win, South Korea has achieved its initial goal of f

July 30, 2024

Stray Kids top Billboard 200 albums chart for fifth time

SEOUL, July 29 (AJU PRESS) - K-pop boy band Stray Kids topped the Billboard 200 albums chart with their new album "ATE" on Sunday. The album debuted atop, making it the band's fifth album to do so, after "Oddinary" and "Maxident" in 2022 and "Rock Star" and "5-Star" in 2023. "'ATE' arrives with 232,000 equivalent album units earned in the U.S. in the week ending July 25," said the U.S music chart. "Th

July 29, 2024

Smilegate's indie platform ventures into game publishing

SEOUL, July 29 (AJU PRESS) - Stove Indie, the indie game platform of Korean game developer Smilegate, announced its entry into the game publishing business on Monday. The platform unveiled two titles that will spearhead its publishing efforts: “Love Too Easily 2” by Monster Guide Co. and “IfSunSets” by Polymorph Studios. This move allows Stove Indie to directly support the distribution and marketing of promising indie games, while Smilegate gains a diverse

July 29, 2024

PHOTOS: Seoul conducts post-earthquake emergency management drill at iconic arts center

SEOUL, July 29 (AJU PRESS) - On Monday, the Seoul Metropolitan Government, along with the Seoul Police Agency and Jongno Fire Station, conducted a rare drill to simulate a 5.2-magnitude earthquake hitting central Seoul and causing the collapse of the Sejong Center for the Performing Arts, an iconic arts venue. Until recently, Korea was considered relatively safe from earthquakes. However, researchers have raised concerns about the potential of devastating earthqua

July 29, 2024

Teen Korean footballer to join Tottenham Hotspur next year

SEOUL, July 29 (AJU PRESS) - Teen footballer Yang Min-hyeok has signed a transfer deal with Tottenham Hotspur, becoming the youngest Korean to join a Premier League club, his current team Gangwon FC said Sunday. "We are delighted to announce that we have reached agreement for to join the club," the English premier club also said on their X account. Details of the six-year deal which runs until 2030 have not been revealed yet, but the transfer fee is reportedly t

July 29, 2024

NICE upgrades Taihan Cable's credit rating to 'A' with stable outlook

SEOUL, July 29 (AJU PRESS) - NICE Investors Service, a Korean credit rating agency, upgraded the rating for Taihan Cable & Solution from "A-" to "A" with a stable outlook, the power cable maker announced on Friday. NICE revised the rating from "A-" in 2022, citing Taihan Cable's business stability from a diverse product range, consistent revenue growth, stable operating profitability and significantly improved financial stability. The rating

July 29, 2024