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S. Korea to invest over 500 billion won in biotech next year

Dec 25, 2020 00:00 am UTC| Business

South Korea will invest 520 billion won in biotechnology next year to boost its development of treatment and vaccines for COVID-19. The Ministry of Science and ICT said the figure represents a 24.9 percent hike from...

Two-thirds of S.Korea's SMEs suffer drop in exports

Dec 24, 2020 23:50 pm UTC| Business

A survey of 500 of South Koreas small and medium enterprises (SMEs) revealed that 67.4 percent suffered drops in exports this year. Of those surveyed, only 8.2 percent said their exports increased from last year, while...

S. Korea's LG Electronics, Canada's Magna to collaborate in EV parts production

Dec 24, 2020 23:36 pm UTC| Business

The South Korean electronics giant LG Electronics Inc. will launch a US$1 billion electric car parts joint venture with Canadian auto parts company Magna International Inc. next year. It will specialize in manufacturing...

Korea Shipbuilding wins 607.2 billion LNG ship order from Panama

Dec 23, 2020 23:41 pm UTC| Business

Korea Shipbuilding Offshore Engineering Co. has received a 607.2 billion-won order from an unidentified Panamanian shipper to build three liquefied natural gas (LNG) ships. Hyundai Samho Heavy Industries Co., one of...

Samsung, SKT, Kakao collaborate for pandemic-forecasting AI

Dec 23, 2020 23:24 pm UTC| Business

A joint research and development group has been formed by Samsung Electronics, SK Telecom, and Kakao to develop an artificial intelligence platform that alerts users of coronavirus risks in advance. According to the...

SK Materials invests $17 million in US-based battery tech developer

Dec 23, 2020 23:19 pm UTC| Business

SK Materials has invested $17 million in Group14 Technologies, a US-based startup developing advanced materials that can enhance the energy density of lithium-ion batteries by 50 percent. The investments will allow...

Global sales of Bibigo frozen dumplings leach 1 trillion won in 2020

Dec 23, 2020 23:11 pm UTC| Business

CJ CheilJedang sold 1.03 trillion won worth of Bibigo dumplings in 2020, with 65 percent generated from overseas. This years sales were double that of the 506 billion won in 2017. The US was the biggest market for...

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Economy

Trump Rejects Iran Proposal as Tensions Persist Amid Fragile Ceasefire

U.S. President Donald Trump has expressed dissatisfaction with Irans latest proposal for renewed talks, signaling continued deadlock in efforts to resolve the ongoing U.S.-Iran conflict. Despite a ceasefire reached on...

EU Warns of Response as U.S. Considers 25% Tariffs on Car Imports

The European Commission signaled it is prepared to defend its economic interests after the United States threatened to impose new tariffs on European vehicles, raising concerns over a potential escalation in transatlantic...

Wall Street Mixed as Apple Earnings Boost Nasdaq and Oil Prices Ease

U.S. stock market performance ended mixed on Friday, with major indices showing resilience despite ongoing geopolitical tensions and fluctuating oil prices. The SP 500 and Nasdaq Composite posted gains, while the Dow Jones...

Gold Prices Slip Amid Iran Tensions and Rising Rate Concerns

Gold prices edged slightly lower on Friday, hovering near one-month lows after a volatile trading session. The precious metal continues to face pressure following consecutive monthly declines, as global economic...

Dollar Gains Slightly as Yen Volatility Continues After Japan Intervention

Currency markets closely monitored the Japanese yen on Friday after suspected intervention by Tokyo triggered significant volatility, while the U.S. dollar began May with a modest rebound following April losses. The U.S....

Politics

Cuba Condemns New U.S. Sanctions, Calls Measures “Collective Punishment”

Cuba has strongly rejected the latest sanctions imposed by U.S. President Donald Trump, describing them as unjust and harmful to its citizens. The response came from Cuban Foreign Minister Bruno Rodríguez, who...

Rising Tensions in US-Europe Relations Amid Trump Policies and Iran War

Recent developments in US-Europe relations have raised concerns among global leaders as tensions escalate due to policy disagreements and political rhetoric. European officials are increasingly uneasy following a series of...

Trump Expands Cuba Sanctions Targeting Key Sectors and Foreign Entities

U.S. President Donald Trump has signed a sweeping executive order expanding sanctions against Cuba, intensifying pressure on the islands government and its international partners. According to White House officials, the...

US to Withdraw 5,000 Troops from Germany Amid Growing Rift with European Allies

The United States is set to withdraw approximately 5,000 troops from Germany, signaling rising tensions between Washington and its European allies amid the ongoing Iran conflict. The Pentagon confirmed the move, which will...

U.S. Weapons Delays Raise Concerns Among European Allies Amid Iran Conflict

The United States has reportedly warned several European allies to prepare for delays in the delivery of military equipment, as ongoing tensions and conflict involving Iran continue to strain American weapons stockpiles....

Science

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey

NASAs Artemis II mission launched Wednesday, marking humanitys return to crewed lunar exploration for the first time since the Apollo era. Carrying four astronauts aboard the Orion spacecraft, this historic 10-day mission...

NASA's Artemis II Mission: First Crewed Lunar Journey Since Apollo

NASA's Artemis II Crew Arrives in Florida for Historic Moon Mission

The four astronauts chosen for NASAs Artemis II mission have touched down at Kennedy Space Center in Florida, marking the beginning of final launch preparations for the first crewed lunar journey in over 50 years. NASA...

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

Technology

U.S. Cybersecurity Pushes Faster Patch Deadlines Amid Rising AI-Driven Threats

U.S. cybersecurity officials are exploring significantly shorter deadlines for fixing critical vulnerabilities in government IT systems, driven by growing concerns that hackers are leveraging advanced artificial...

Apple Q2 2026 Earnings Surge as iPhone 17 Sales Drive Record Revenue

Apple delivered a strong fiscal Q2 2026 performance, reporting record-breaking revenue and profit growth fueled by robust iPhone sales and expanding services. The tech giant posted earnings of $2.01 per share on $111.18...

FBI Warns of China’s Expanding Hack-for-Hire Network Amid Extradition Case

The Chinese governments alleged hack-for-hire ecosystem is rapidly expanding and becoming increasingly difficult to control, according to a senior FBI official. Speaking on Thursday, FBI Assistant Director Brett Leatherman...

Taiwan Activates Backup Communications After Undersea Cable Break on Dongyin Island

Taiwan has activated emergency backup communications for Dongyin, its northernmost and strategically important island, after an undersea cable was damaged due to shifting shipwreck debris caused by severe weather. The...

Meta Raises 2026 Capex Outlook Amid AI Spending Surge, Shares Drop After Earnings

Meta Platforms has increased its full-year capital expenditure guidance for 2026, signaling continued aggressive investment in artificial intelligence infrastructure despite rising costs and market concerns. The company...