LS Cable aims for 10 trillion won in revenue by 2030

SEOUL, Sept. 5 (AJP) - LS Cable & System announced Thursday its goal to reach 10 trillion won ($7.4 billion) in revenue by 2030, focusing on expanding its global market presence. During a press event, the Korean power cable maker unveiled its growth strategies for subsea cables and internet data centers (IDCs), emphasizing reductions in power consumption and operating costs. Despite growing global demand for high-voltage direct-current (HVDC) cables driven by long-distance po

September 5, 2024

Busan sets record with 1.38 million foreign visitors in first half of 2024

Courtesy of the Korea Tourism Organization SEOUL, Sept. 5 (AJP) - The southern port city of Busan reported Wednesday a record 1.38 million foreign visitors in the first half of this year, surpassing the pre-pandemic peak of 1.32 million in 2019. This marks the highest number since the government began tracking foreign visitors in 1999. Global accommodation reservation service Hotels.com ranks Busan as Korea’s second-most popular travel destination after Seoul. Kn

September 5, 2024

Korea seeks to cut renewable energy budget, increase nuclear funding

SEOUL, Sept. 5 (AJP) - Korea's government plans to reduce its budget for renewable energy support by about 7.7 percent next year while increasing funding for nuclear power, according to budget proposals submitted to the National Assembly on Thursday. The Ministry of Trade, Industry and Energy's 2025 budget allocates 571.7 billion won ($428 million) for renewable energy support, down from 619.6 billion won in 2024. The budget for nuclear industry programs, including the d

September 5, 2024

Korea sees biggest number of international students in 25 years

SEOUL, Sept. 05 (AJP) - Korea has recorded its highest number of international students in 25 years, with over 200,000 enrolled this year—the largest figure since the government began tracking in 1999, the Ministry of Education announced Wednesday. During a ministerial meeting at the Government Complex in Seoul, the ministry reported on the first-year progress of the "Study Korea 300K Project." Launched in August last year, the initiative aims to attract 300,000 in

September 5, 2024

Telegram users in Korea surge amid deepfake concerns

SEOUL, Sept. 5 (AJP) - Telegram, the instant messaging app at the center of a growing deepfake crime controversy in Korea, saw its largest-ever monthly user increase in the country in August, data showed Thursday. Telegram's monthly active users increased by 311,130 to 3,471,421 last month, according to the app analysis service Mobile Index. It marks the largest monthly increase since data collection began in March 2021. Those under 20 accounted for 32.1 percent of the new

September 5, 2024

VISUALS: Chuncheon boasts Korea's longest cable car ride with panoramic views over lake, mountain

SEOUL, Sept. 4 (AJP) - Chuncheon, in eastern Korea, boasts the country's longest cable car system, spanning 3.61 kilometers over Uiam Lake. The cable car connects Samcheon-dong to Mt. Samak, offering breathtaking views of the Bukhan River. At the Mt. Samak station, visitors can explore hiking trails, an observatory and a skywalk.

September 4, 2024

Gov't eyes first pension premium hike in 27 years as part of overdue reform

SEOUL, September 4 (AJP) - A set of proposals to revise Korea's national pension was revealed on Wednesday. The proposals, which aim to increase both the contribution rate and the benefits for retirees, were revealed about a week after President Yoon Suk Yeol pledged to implement reforms at a press conference last week in response to the aging Korean population and depleting funds. Under the proposals, wage earners' contribution rate will increase from 9 percent to 13 percen

September 4, 2024

INTERVIEW: Startup harnesses AI for dementia diagnosis, elderly healthcare

SEOUL, Sept. 4 (AJP) - Leben Grida, a Korean tech venture, is preparing to launch a mobile dementia diagnosis app in November, leveraging artificial intelligence technology to improve the health and well-being of elderly people. Kang Hyun-joo, CEO of the Busan-based social enterprise, said the new program will demonstrate AI's expanding role in addressing the challenges faced by aging societies worldwide. The program, Brain Up, analyzes speech patterns and linguistic behavior

September 4, 2024

Documentary featuring Korea-born panda hits theaters

SEOUL, September 4 (AJP) - "My Dearest Fu Bao" featuring Fu Bao, Korea's first panda born here, hit local theaters in Korea on Wednesday. The documentary film explores Fu Bao's 1,354-day stay in Korea, as well as the journey of her parents, Ai Bao and Le Bao, from their arrival in the country. It highlights her emotional bond with her zookeepers and their mutual interactions until their farewell in April this year. Fu Bao left Korea to settle in her new

September 4, 2024

Outgoing Japanese Prime Minister to visit Seoul this week

SEOUL, September 4 (AJP) - Japanese Prime Minister Fumio Kishida is set to visit Korea later this week, the presidential office said on Tuesday. After arriving in Seoul on Friday for a two-day visit, the outgoing Japanese leader will hold talks with President Yoon Suk Yeol. Yoon and Kishida are expected to "review their bilateral cooperation, assess achievements, and discuss future directions to strengthen regional and global stability." It will be Kishida's 12th me

September 4, 2024