Seoul shares rebound after major drops

SEOUL, August 6 (AJU PRESS) - Korea's benchmark KOSPI index rebounded by over 3 percent and recovered the 2,500 level on Tuesday, reversing a sharp decline triggered by fears of an economic downturn in the U.S. The KOSPI closed at 2,522.15, up 80.60 points or 3.3 percent from the previous trading day. The index began the session at 2,533.34, marking an increase of 91.79 points or 3.76 percent from the prior close. At one point, it surged by as much as 5.62 percent. On Mond

August 6, 2024

Gov't promises financial assistance, shorter settlement periods to address e-commerce crisis

SEOUL, August 6 (AJU PRESS) - The Korean government on Tuesday promised massive financial support to ensure that refunds are completed this week for consumers affected by the ongoing e-commerce payment crisis. Officials from related ministries and the ruling People Power Party (PPP) held a high-level policy consultation to address the financial troubles surrounding Tmon and WeMakePrice, e-commerce platforms owned by Singapore-based Qoo10. “The ruling party and the governm

August 6, 2024

PHOTOS: Gold pop-up store celebrates Paris Olympics

SEOUL, August 06 (AJU PRESS) - Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO) has opened a gold pop-up store at the CU convenience store in Olympic Plaza to support the national team for the Paris Olympics. The store offers over 150 gold products, including Team Korea support gold cards, card-type gold, pendant medals and gold bars. The pop-up runs from July 25 to August 8, coinciding with the Paris Olympics. To celebrate and wish for gold medals, all products are discou

August 6, 2024

GI Innovation shifts focus to obesity drug development

SEOUL, August 6 (AJU PRESS) - Korean biotechnology company GI Innovation announced on Tuesday its plans to develop a new obesity treatment, GI-213, as its next flagship pipeline product. The company has completed a patent application for the dual-fusion protein compound, which promotes fat breakdown, increases energy expenditure and enhances muscle mass. In preclinical trials, mice fed a high-fat diet and treated with GI-213 showed a 36.1 percent reduction in body weight after six w

August 6, 2024

100 Filipino domestic helpers arrive in Seoul

Workers from the Philippines arrive at Incheon International Airport on Aug. 6, 2024. Yonhap SEOUL, August 6 (AJU PRESS) - About 100 workers from the Philippines arrived in Korea on Tuesday. They are set to start working as domestic helpers in Korean homes next month. Hiring them as maids or nannies under a program initiated by the Seoul Metropolitan Government aims to relieve difficulties faced by young couples who struggle to balance childcare and household chores. These helpers w

August 6, 2024

Writer challenges public's unforgiving attitude toward influencers

SEOUL, August 6 (AJU PRESS) - Seol Min-seok was arguably one of Korea's most beloved history storytellers. The former private institute lecturer frequently appeared on TV programs and authored numerous bestselling books. In December 2020, he became embroiled in a scandal involving alleged plagiarism in his master's thesis and inaccuracies in his lectures, which led to his disappearance from the public eye. On July 19, he made his comeback on an MBC lecture show. During his a

August 6, 2024

Over half of N. Korean children remain unvaccinated, report reveals

A child gets vaccinated at a clinic in North Korea, in this file photo from October 2012. Yonhap SEOUL, August 6 (AJU PRESS) - More than half of North Korean children remain unvaccinated, leaving the reclusive country still vulnerable to the spread of coronavirus and other diseases, according to a report released by the Korea Institute for National Unification early this week. The report, which compiled data from the World Health Organization (WHO) and UNICEF, showed deteriorating heal

August 6, 2024

Presidential office calls for probe into badminton star's allegations

SEOUL, August 06 (AJU PRESS) - South Korean badminton star An Se-young has publicly criticized the national team’s management, prompting a government investigation. The presidential office on Tuesday called for a thorough review of the allegations made by the Paris Olympics gold medalist, who accused the team of mishandling her knee injury and prioritizing doubles players over singles. In a press release, the Ministry of Culture, Sports and Tourism said it will investi

August 6, 2024

G-Dragon launches foundation to combat drug abuse in Korea

SEOUL, August 6 (AJU PRESS) - G-Dragon of boy band Big Bang launched a foundation to combat drug abuse at an event in central Seoul on Monday. The launch fulfills his promise he made in December last year to establish such a foundation after being cleared of all charges related to alleged illegal drug use. Due to his busy schedule preparing for his new album slated for release this fall, the flamboyant star was absent from the event but will serve as the honorary chairman of the Jus

August 6, 2024

Top university students booked for allegedly organizing drug parties

SEOUL, August 06 (AJU PRESS) - Six undergraduate and postgraduate university students have been booked on charges of illegally distributing and using psychoactive drugs such as ketamine, LSD, and synthetic marijuana extract, prosecutors said Sunday. According to the Seoul Southern District Prosecutors' Office, the main suspect is a man in his 30s, who operates a social club for students with around 300 members. The postgraduate student at the Korea Advanced Institute of Science

August 6, 2024