Kakao Bank aims to boost customer base, non-interest income

Top online lender Kakao Bank said Tuesday that it aims to further jack up its customer base, thus achieving 100 trillion won ($71 billion) in assets by 2027. The internet-only bank said it also plans to boost the portion of its non-interest income to 40 percent of its operating income by 2027 via mergers and investments. As of end-September, its number of customers stood at 24.43 million, up 2.15 million from a year earlier. It aims to achieve 30 million customers by 2027. Its assets stood at 62

EconomyNov. 26, 2024

Ukraine hopes for its special envoy to visit S. Korea soon for talks on NK troop deployment

Ukraine's top diplomat has voiced hope that its special envoy will visit South Korea in the near future to discuss North Korea's troop dispatch to Russia for use in the war against Kyiv. Ukrainian Foreign Minister Andrii Sybiha made the remark when he met one-on-one with Foreign Minister Cho Tae-yul on the margins of the top diplomats' meeting of the Group of Seven (G7) rich countries in Italy, on Monday, Cho's office said. South Korea and Ukraine were among the non-G7 members invited as guest c

Diplomatic CircuitNov. 26, 2024

Seoul shares open lower on slump in autos, financials

South Korean stocks opened lower Tuesday, despite overnight U.S. rallies, led by losses in auto and financial shares. The benchmark Korea Composite Stock Price Index shed 11.04 points, or 0.44 percent, to 2,523.30 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average surged 0.99 percent to a record high and the tech-heavy Nasdaq Composite rose 0.27 percent, as investors welcomed Trump's nomination of Scott Bessent as his treasury secretary on hope that he would gui

MarketNov. 26, 2024

[해커스 TEPS] 텝스 시험대비 단기간 고득점 단어 & 문법 5문제

2) 해커스 텝스 문법 Part Ⅰ Choose the best answer for the blank. 1. A: You are too young to go to concerts. B: But every one of my friends ______ going to this concert. (a) is (b) are (c) was (d) were 해석 A: 너는 콘서트에 가기에 너무 어려. B: 하지만 제 친구들 모두 이 콘서트에 갈 거란 말이에요. 해설 수량 표현을 포함한 주어에 수 일치하는 동사 채우기 문장의 주어(every one of my friends)에 단수 취급하는 수량 표현 every one of가 쓰였으므로, 단수 동사 (a)와 (c)가 정답의 후보이다. 문맥상 '하지만 제 친구들 모두 이 콘서트에 갈 거란 말이에요'라는 B의 말이 미래에 일어나기로 예정된 일을 나타내는 것임을 알 수 있다. 따라서 미래에 일어나기로 예정된 일을 나타낼 수 있

English EyeNov. 26, 2024

Business sentiment for December pessimistic over external risks, weak demand

South Korea's business sentiment index remained pessimistic for December due to concerns of weak domestic demand and external risks, a poll showed Tuesday. The business survey index (BSI) for the country's top 600 companies by sales stood at 97.3 for next month, according to the monthly poll by the Federation of Korean Industries. A reading below 100 means pessimists outnumber optimists, while a figure above the benchmark means the opposite. The index has remained below 100 for 33 cons

EconomyNov. 26, 2024

NK leader calls for regions' efforts for independent development

North Korean leader Kim Jong-un has visited an offshore fishing farm under construction in the eastern port city of Sinpho, calling for regions to use their own natural and economic resources in a bid to develop themselves independently, state media reported Tuesday. The North's leader made the remarks during his visit to the Sinpho City Offshore Farm under construction in South Hamgyong Province, the Korean Central News Agency said, without disclosing the date of his inspection. During a v

North KoreaNov. 26, 2024

Think you know how kimchi tastes? Wait until you try these regional variations

As winter's icy grip approaches, Koreans roll up their sleeves to prepare a year’s supply of kimchi to ensure they have enough for the cold months ahead. The fermented dish varies in shape and flavor across the nation, with the distinct regional environment influencing kimchi's ingredients, seasonings and presentation. Take a tour of South Korea’s regional kimchi varieties, each adding its own zing to the traditional dish. Their distinct flavor profiles are guaranteed to

Hashtag KoreaNov. 26, 2024

Insurance firms' Jan.-Sept. net rises 13 pct on increased sales, investment returns

Insurance companies in South Korea saw their combined net profit surge 13 percent in the first nine months of the year on the back of increased sales and investment returns, data showed Tuesday. The combined net profit of 22 life insurers and 31 non-life insurance companies in the country came to 13.4 trillion won ($9.53 billion) in the January-September period, up 1.56 trillion won, or 13.2 percent, from the same period last year, according to the data from the Financial Supervisory Service. Th

EconomyNov. 26, 2024

Consumer sentiment falls in Nov. on slowing export growth, Trump uncertainty

South Korea's consumer sentiment fell in November as concerns have risen over slowing exports and uncertainties stemming from expected policy changes of the new Donald Trump administration, a central bank poll showed Tuesday. The composite consumer sentiment index stood at 100.7 this month, down from the previous month's 101.7, according to the survey conducted by the Bank of Korea (BOK). A reading above 100 means optimists outnumber pessimists. As for inflation, ordinary people expect

EconomyNov. 26, 2024

[Graphic News] International marriages on rise in Korea

In 2023, one in ten newlyweds in Korea was part of an international couple, with international marriages making up 10.6 percent (20,431) of all unions. This marks an increase of 9.1 percent (17,428) in 2022. Of these, 69.8 percent were between foreign national wives and Korean national husbands, 17.9 percent between foreign husbands and Korean wives, and 12.3 percent were comprised of two or at least one naturalized Korean citizen. Married couples where both partners are of foreign nationality

Social AffairsNov. 26, 2024

[Lim Woong] AI digital textbook: promise or peril?

South Korea’s plan to roll out the AI Digital Textbook system in 2025 has sparked some controversy. It is an ambitious project, and there’s nothing quite like it anywhere else in the world. But the boldness of the idea is matched by the intensity of the concerns it raises. The sheer cost, the way it is being implemented as a national policy and whether AI will truly help or hurt education have left people divided and questioning its viability. The AIDT is not just another digital tex

ViewpointsNov. 26, 2024

[Grace Kao] K-pop arrives at the Ivory Tower

I have worked as a professor for almost 30 years at two Ivy League institutions -- the University of Pennsylvania and Yale University. Ivy League institutions epitomize the Ivory Tower. We imagine that professors and students discuss rarefied subjects while being disconnected to the reality on the ground. However, I wholeheartedly reject this version of academia. Two weeks ago, I had the immense pleasure of organizing a K-pop conference at Yale University titled "K-pop Production and Consum

ViewpointsNov. 26, 2024

[Andrei Hagiu] Which products will benefit and which will be disrupted by generative AI

Generative AI’s ability to create or improve products and services means it has to potential to commoditize some businesses, while greatly enhancing the competitive advantage of others. In what follows I will discuss the characteristics that make products or services susceptible to disruption by generative AI, and those that make them more resilient. To illustrate, I will then compare Chegg and Duolingo, two businesses which have been impacted very differently by the emergence of generativ

ViewpointsNov. 25, 2024

Lt. Gen. Ju Il-suk picked as marine corps chief

Lt. Gen. Ju Il-suk, the former director of the Joint Chiefs of Staff’s combat readiness inspections, was named Marine Corps Commandant in a reshuffle of general-level officers announced Monday. Ju replaces Lt. Gen. Kim Kye-hwan, who is under investigation for the death of Cpl. Chae Su-geun in July last year. Chae was killed during a search mission for missing victims of heavy downpours in Yecheon, a county in North Gyeongsang Province. Vice Adm. Choi Sung-hyeok of the 1st Fleet Command was

DefenseNov. 25, 2024

Prosecutors seek 5-year prison term for Samsung chief in merger retrial

Prosecutors requested five years in prison and a fine of 500 million won ($356,000) for Samsung Electronics Chairman Lee Jae-yong on Monday, in the final hearing of a retrial over suspected stock manipulation related to a high-profile 2015 merger case. The prosecution had appealed in February immediately after a lower court acquitted Lee of all 19 charges it had filed. In the appellate court on Monday, the prosecution kept to their original claims, insisting the chief of the country's large

IndustryNov. 25, 2024

UN talks on plastic pollution treaty begin with grim outlook

BUSAN -- Delegates from 177 countries gathered in Busan on Monday for the fifth round of negotiations to clinch a deal for a legally binding United Nations treaty to combat plastic pollution, though doubts linger as to whether a final agreement can be reached. From Monday through Sunday, delegates to the fifth session of the Intergovernmental Negotiating Committee are expected to finalize a legally binding treaty to address plastic pollution. This initiative emerged from a resolution passed duri

Social AffairsNov. 25, 2024

Bill proposed to mandate antismoking warnings on e-cigarettes

The Ministry of Health and Welfare on Monday expressed its support for a legislative proposal from an opposition lawmaker to mandate anti-smoking warnings on e-cigarette devices. In a written answer to the National Assembly’s Health and Welfare Committee, the ministry said, “In terms of raising awareness of the harms of smoking, it is necessary to display health warnings on e-cigarette devices,” and added it would support the enactment of relevant legal changes. Currently, a

Social AffairsNov. 25, 2024

Mercedes-Benz donates W500m for child protection center in Incheon

Mercedes-Benz’s Corporate Social Responsibility Committee said Monday that it has donated 500 million won ($358,000) to establish a specialized child protection center, aimed at protecting abused children and preventing further abuse. The funds, raised through the 11th Mercedes-Benz Give ’n Race charity event, will be fully allocated to the Incheon Child Protection Center to be built in Seo-gu, Incheon. A donation ceremony was held at Incheon Metropolitan City Hall on Monday, attende

MobilityNov. 25, 2024

BAT debuts synthetic nicotine e-cigarettes in Korea

Global tobacco giant British American Tobacco on Monday officially launched its synthetic nicotine-based liquid e-cigarette, Nomad Sync 5000, in South Korea, the first market in the world to release the product. The Nomad Sync 5000, available in sweet “Purple” and refreshing “Cold” flavors, offers up to 5,000 puffs with a liquid capacity of 10 milliliters and a nicotine concentration of 0.9 percent. Priced at around 17,000 won ($12), the product is now available at vape s

CompaniesNov. 25, 2024