Trial ferry service along Han River available for commuters this fall

SEOUL, August 7 (AJU PRESS) - Seoulites will be able to use a ferry service connecting key locations along the Han River this fall. The Seoul Metropolitan Government said Tuesday that the service will be available on a trial basis in October with full operations slated for March next year. The new transportation service, which was delayed from the city's previous plan to improve safety, aims to ease traffic congestion during busy rush hours and also attract tourists by offeri

August 7, 2024

AI patent registrations by major Korean companies more than triple this year

SEOUL, August 7 (AJU PRESS) - The number of artificial intelligence (AI)-related patents registered by South Korea’s large companies with local authorities more than tripled this year, data showed Wednesday. According to a survey by CEO Score, a local research institution focused on business corporations, 111 major companies have registered 1,503 AI patents with the Korean Intellectual Property Office as of last month, up 273 percent from 403 last year. Samsung Electroni

August 7, 2024

Korea sees surge in new COVID variant cases

SEOUL, August 7 (AJU PRESS) - Infections with a new variant of coronavirus has been surged recently, the Korea Disease Control and Prevention Agency (KCDA) said Wednesday. According to the agency, some 465 patients were hospitalized due to COVID-19 in the fourth week of July doubling the previous week's tally of 226 cases. KCDA has identified a variant called KP.3, known for its immune evasion capabilities. COVID-related hospitalizations had been declining since peaking in

August 7, 2024

Coupang posts first operating loss in eight quarters despite record revenue

SEOUL, August 07 (AJU PRESS) - South Korea's e-commerce giant Coupang reported its first operating loss in eight quarters, despite surpassing 10 trillion won ($7.2 billion) in quarterly revenue for the first time. In its second-quarter earnings report filed with the U.S. Securities and Exchange Commission on Wednesday, Coupang's revenue was 10.03 trillion won, up 30 percent from the same period in 2023. The company, listed on the New York Stock Exchange, reported an opera

August 7, 2024

New compound may block coronavirus entry into cells

SEOUL, August 7 (AJU PRESS) - Korean scientists have discovered a compound that could potentially block the entry of coronaviruses and other viruses into human cells. The compound, named UNI418, regulates genome homeostasis and maintains a stable immune system to inhibit virus infiltration, according to the Ulsan National Institute of Science and Technology (UNIST) on Wednesday. The findings were published online in the Nature Publishing Group's journal Experimental & Mol

August 7, 2024

Korea logs largest current account surplus in nearly 7 years, driven by chip exports

SEOUL, August 7 (AJU PRESS) - South Korea posted the largest current account surplus in six years and nine months in June, driven by strong semiconductor exports, the Bank of Korea said Wednesday. The current account balance recorded a surplus of $12.26 billion in the month, the largest since the $12.34 billion surplus in September 2017. The cumulative surplus for the first half of 2024 was $37.73 billion, up from $1.15 billion in the same period last year. Exports totaled $

August 7, 2024

Opinion: By picking Tim Walz as her running mate, Harris shows she's running her own race, by her own rules

SEOUL, August 7 (AJU PRESS) - U.S. Vice President Kamala Harris called Minnesota Governor Tim Walz to ask him to be her running mate in her campaign for the presidency on Tuesday. After telling Harris he "would be honored," the first thing Walz observed was "the joy that you're bringing back to the country, the enthusiasm that's out there." Harris' choice of Walz confirms and leans into this extraordinary vibe shift in American politics. In only a

August 7, 2024

SK hynix to receive up to $450m of US grants for Indiana chip facility

SEOUL, August 06 (AJU PRESS) -- SK hynix will receive up to $450 million in subsidies from the U.S. government for its investment in a semiconductor packaging facility in Indiana, the U.S. Department of Commerce announced Tuesday. The U.S. Department of Commerce has signed a preliminary memorandum of terms with the Korean chipmaker to provide the federal grants needed to establish a high-bandwidth memory (HBM) advanced packaging fabrication and research and development facility.

August 6, 2024

PHOTOS: Farmers protest falling rice prices

SEOUL, August 6 (AJU PRESS) — Farmers gathered in front of Seoul Station on August 6 to protest falling rice prices. The rally, organized by the National Farmers' Federation, called for the resignation of President Yoon Suk Yeol, accusing him of failing to guarantee rice prices. Rice prices dropped to 179,516 won per 80 kilogram in July, falling short of the government target of 200,000 won. The government had promised to maintain the price when Yoon vetoed a law amendment in

August 6, 2024

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