Hyundai and Kia cars excluded from list of EVs eligible for US tax credits of up to $7,500

SEOUL -- The US Treasury Department has sidelined Hyundai and Kia's electric vehicles from the list of 16 EVs that are eligible for the United States federal tax credit of up to $7,500, which branches out from the Inflation Reduction Act that was signed into law in 2022. The exclusion cast a dark cloud over the South Korean carmakers as their products lost competitiveness in the North American EV market which is growing at an average annual growth rate of about 37 percent to

April 18, 2023

SM Entertainment artists to nest in HYBE's mobile K-pop fan platform Weverse

SEOUL -- 12 artists or teams from SM Entertainment, one of South Korea's largest entertainment powerhouses, will nest in Weverse, a mobile K-pop fan community platform designed to help K-pop super fans share information and communicate with their favorite artists. Weverse is operated by HYBE, the famous agency of K-pop superstar BTS. SM Entertainment was acquired by Kakao, South Korea's web service giant, in March 2023 through a head-to-head competition with HYBE. The BTS a

April 17, 2023

Hanwha Aerospace to build rocket assembly facility in southern province

SEOUL -- Hanwha Aerospace, a global defense solution company, will invest 50 billion won ($38.1 million) to build a rocket research and development infrastructure in the southern port city of Suncheon some 300 kilometers (186 miles) south of Seoul, designated as the special zone for space launch vehicle development. The massive infrastructure will house a rocket assembly facility. In a bid to be reborn as a global defense solution company like the Unites States' Lockheed Martin

April 17, 2023

​S. Korean pharmaceutical companies race to enter pet healthcare market

SEOUL -- South Korean pharmaceutical companies are competing to become the top player in the country's rapidly-growing pet healthcare market. South Korea, where 25 percent of households have at least one pet, is predicted to have a pet-related products and services market sized six trillion won ($4.5 billion) by 2027. The country's pet market that stood at 3.4 trillion won in 2020 saw a rapid expansion during the last few years, mainly due to the COVID-19 pandemic that left

April 17, 2023

Soundtrack created by AI composer played on S. Korean home shopping TV show

SEOUL -- KT Alpha, a commerce wing of South Korea's major telecom company KT, showcased a soundtrack created by an artificial intelligence composer on a TV show. The music with a cheerful vibe was used for a veteran show host's home shopping program, mostly consumed by women in their 40s and 50s. The AI-based soundtrack was played on "Shin Jin-young's S Shop" where many different luxury apparel items and home appliances are presented. The soundtrack was made

April 14, 2023

Number of patients with panic disorder rapidly increases in S. Korea

SEOUL -- South Korea experienced a sharp rise in the number of patients suffering from panic disorder between 2017 and 2021. The number of people with panic disorder skyrocketed to 205,540 in 2021, up 44.5 percent from five years ago. The anxiety disorder becomes severe if patients delay receiving medical care or if they are frequently exposed to various types of stress. People with the disorder often suffer from extreme anxiety and fear. Panic attacks accompanied by heart palpitat

April 14, 2023

[COLUMN] How long will the Comfort Woman statue last?

SEOUL -- As readers may know, the offices of this newspaper are located within shouting distance of the Comfort Woman Statue in Seoul which sits facing the Japanese Embassy. I’ve worked in the neighborhood for 15 years and have become quite familiar with the Statue of Peace, as it is known, and with the demonstrations held alongside it every Wednesday luncht

April 14, 2023

Online apparel giant Musinsa's annual sales skyrocket by 54 percent on-year

SEOUL -- The annual sales of South Korea's online apparel startup unicorn Musinsa in 2022 has skyrocketed by 54 percent compared to a year ago, backed by aggressive marketing that targeted both online and offline customers in their 20s and 30s. Musinsa made a foray into South Korea's fashion industry in 2003 as a small online fashion community. The startup company opened an online shopping mall in 2009 and garnered popularity among young consumers for affordable and fashion

April 14, 2023

Seoul offers subsidies for building-integrated solar wall panel system for tall buildings

SEOUL -- Seoul will subsidize up to 80 percent of the installation costs for building-integrated photovoltaics (BIPVs), a solar panel system that is integrated into the walls of a building. Compared to the conventional system, which installs external structures on separate sites such as roofs and skylights, BIPVs are suitable for urban areas filled with skyscrapers where there are not many idle spaces. BIPVs can be formed in various ways including semi-transparent window glasses wi

April 14, 2023

Lotte Department Store to launch Line Friends pop-up store in southern Seoul

SEOUL -- Targeting Southeast Asian tourists who often use messenger platform LINE, the department store wing of South Korea's retail giant Lotte Group will open a pop-up store featuring Line Friends, a character brand lineup of IPX, a digital IP platform operator under South Korea's largest portal operator Naver. Lotte Department Store said in a statement that a large offline store would be launched in Seoul's southern district of Jamsil on April 13. The company said t

April 13, 2023