Seoul ponders if N. Korean athletes' acceptance of Samsung phones violates UN sanctions

SEOUL, August 8 (AJU PRESS) - South Korea will figure out whether North Korean athletes participating at the Summer Olympics in Paris, France violate United Nations Security Council resolutions by accepting smartphones from Samsung Electronics, the Ministry of Foreign Affairs (MOFA) said Thursday. Samsung, the official sponsor of this year's Olympics, provided its special edition "Galaxy Z Flip 6" foldable smartphones to all athletes and personnel participating in the

August 8, 2024

Kakao founder indicted for stock price rigging

SEOUL, August 8 (AJU PRESS) - The prosecution indicted Kim Beom-su, the founder of Kakao Corp., on Thursday on charges of stock manipulation related to the tech giant's 2023 takeover of SM Entertainment. Kim had been arrested on July 23 for violating the Financial Investment Services and Capital Markets Act. The Seoul Southern District Prosecutors' Office also sent former Kakao Corp. CEO Hong Eun-taek and former Kakao Entertainment CEO Kim Sung-soo to trial on the same ch

August 8, 2024

S&P upgrades SK Hynix rating, citing strong HBM performance

SEOUL, August 08 (AJU PRESS) - S&P Global Ratings has upgraded SK hynix's credit rating to 'BBB' from 'BBB-', the company's highest-ever rating from the agency. The outlook remains stable. The upgrade reflects SK hynix's strong market position in high bandwidth memory (HBM) and expectations of improved financial performance. S&P projects the company's annual earnings before interest, taxes, depreciation, and amortization (EBITDA) to reach 34

August 8, 2024

Electric vehicle explosion sparks safety concerns in Korea

SEOUL, August 8 (AJU PRESS) - Concerns are growing among Korean consumers about the safety of electric vehicles following a recent EV explosion in Incheon, west of Seoul. On August 1, a Mercedes-Benz EQE sedan exploded in the underground parking garage of an apartment complex, sparking a fire that injured about 20 people and damaged over 100 cars. Investigations are still underway to determine the exact cause of the fire. Experts have suggested overcharging or initial defects in

August 8, 2024

N. Korean envoy arrives in Viet Nam amid Pyongyang's move to resume diplomacy

SEOUL, August 8 (AJU PRESS) - North Korea's new ambassador to Viet Nam arrived in Hanoi earlier this week, becoming the isolated country's first envoy abroad since the outbreak of the coronavirus pandemic. Ri Sung-kuk replaces his predecessor Kim Myong-gil, who returned to Pyongyang in April 2019. The post had remained vacant since then. His appointment and arrival at the overseas mission came after Ri Ryong-nam was appointed as ambassador to China in 2021. Vietnam'

August 8, 2024

Monks make debut as K-pop group to spread Buddhism

SEOUL, August 8 (AJU PRESS) - Some 10 monks and nuns have teamed up to promote Buddhism, starting their activities with a debut stage in the southern port city of Busan on Thursday, according to the Jogye Order of Korean Buddhism. The Korea's largest Buddhist organization said BTENS will help people find peace and solace through the religious method of meditation. "Korea topped the suicide rate among OECD countries. We pondered what we can do about this as religious peo

August 8, 2024

Badminton legend critiques rising star

SEOUL, August 08 (AJU PRESS) - Bang Soo-hyun, the gold medalist in women’s singles in badminton at the 1996 Atlanta Olympics and now a prominent TV commentator, has expressed disappointment in badminton star An Se-young's recent public criticism of the Badminton Korea Association. In a radio interview, Wednesday, Bang said An’s decision to publicly air grievances about the association immediately after winning the gold medal at the Paris Olympics was “regret

August 8, 2024

Kakao reports record Q2 revenue, profit surge, driven by platform businesses

SEOUL, August 8 (AJU PRESS) - Kakao Corp., Korea's leading tech company, reported record revenue and double-digit profit growth for the second quarter on Thursday, driven by its advertisement, e-commerce and other platform-based businesses. The company, which operates Korea’s largest mobile messaging app, KakaoTalk, said in a regulatory filing that revenue increased by 4 percent year-on-year to a record 2 trillion won ($1.4 billion) for the April-June period. Net incom

August 8, 2024

U.S. extends ban on travel to N. Korea for its citizens

SEOUL, August 8 (AJU PRESS) - The U.S. has extended its travel ban on North Korea for another year, the State Department said on Wednesday. The ban prohibits U.S. citizens from using their passports to visit North Korea unless they obtain "special validations on a limited basis." The travel restriction has been extended annually since 2017 and will now remain in effect until August next year. "U.S. passports are not valid for travel to, in, or through North Korea,&

August 8, 2024

PHOTOS: Seoul library offers cool retreat with award-winning design

SEOUL, August 8 (AJU PRESS) - In a city grappling with intense summer heat, the Odong Forest Library in Seoul offers a free, cool retreat where books meet innovative architecture. The library is the seventh installment in the "Park Book Rest Area," a collaborative project between the city and local districts. Located in Seongbuk District's Odong Neighborhood Park, the single-story, 430-square-meter building mirrors the park's winding paths in its design. It recently wo

August 8, 2024