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Lee Kyung-min

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Economy

BTS concerts in Korea fuel $38 mil. spending surge by overseas fans

A series of BTS concerts in Korea set off a surge in spending by foreign fans, with credit card purchases topping 55.5 billion won ($37.6 million) and reshaping local commerce around the venue, according to data released Tuesday. Hana Card said its analysis of foreign card transactions tied to three recent BTS performances at Goyang Stadium found that roughly 30,000 overseas visitors made purchases during the concert period. The card company said that based on a conservative estimate of 30,000 visitors, total spending across categories, including airfare, lodging, dining and retail, reached more than 55.5 billion won. The figure could climb to 74 billion won with 40,000 visitors and 92.6 billion won with 50,000, approaching 100 billion won. Those fans bought an average of 2.1 tickets per person, the company said, reflecting a trend of repeat attendance and group purchases among devoted followers. Japanese fans accounted for 32 percent of all foreign buyers, followed by Taiwan at 12 percent, the Philippines at 7 percent, Hong Kong at 5 percent and the United States at 5 percent, with Asia

Apr 16, 2026By Lee Kyung-min
BTS concerts in Korea fuel $38 mil. spending surge by overseas fans
South Korea

Korean researchers advance high-speed production of nano-thin lenses

A joint research team from Sungkyunkwan University and Pohang University of Science and Technology (POSTECH) has developed a breakthrough manufacturing process capable of producing advanced flat “metalenses” — ultrathin lenses engineered with nanostructures — at unprecedented speed, a step that could bring the technology closer to widespread industrial use. The researchers said Thursday that they had developed a roll-to-roll nanoimprinting process capable of producing more than 300 metalenses per second, boosting productivity by roughly 100-fold compared with existing methods. The findings were published Thursday online in Nature, one of the world’s leading scientific journals, the team said. The researchers said the technology overcomes a key bottleneck that has confined metalens production largely to laboratory settings, opening the door to high-speed, low-cost mass manufacturing. Metalenses are ultrathin optical devices that use nanostructures hundreds of times thinner than human hair to control light. They can replace bulky conventional lenses but have been difficult to com

Apr 16, 2026By Lee Kyung-min
Korean researchers advance high-speed production of nano-thin lenses
South Korea

Report shows gov't aided over 10,000 victims of digital sex crimes in 2025

More than 10,000 victims of digital sex crimes received government-backed support last year, as Korea confronts a surge in online exploitation and growing fears over the spread of illicit content, the government said Thursday. The Ministry of Gender Equality and Family said a total of 10,637 victims were assisted in 2025 through the Central Digital Sex Crime Victim Support Center, according to a newly released report. The ministry said the center provided more than 352,000 cases of support — including counseling, content removal and referrals to investigative, legal and medical services — marking a 3.2 percent increase from a year earlier. Deletion of illicit content accounted for 90.3 percent of all services, rising 5.9 percent from 2024, the ministry said. The report showed that younger victims made up the overwhelming majority. Those in their teens and 20s accounted for 77.6 percent of all victims, while cases involving manipulated or edited images disproportionately affected younger groups, with 91.2 percent involving victims in their teens and 20s. The ministry said anxiety over

Apr 16, 2026By Lee Kyung-min
Report shows gov't aided over 10,000 victims of digital sex crimes in 2025
Business

Korean Air unveils sprawling new lounges at Incheon Int'l Airport in premium push

Korean Air has completed a sweeping overhaul of its first-class and Prestige West lounges at Incheon International Airport, emphasizing space, privacy and upgraded amenities in a bid to redefine the preflight experience, the airline said Thursday. The airline said the first-class lounge, located across from Gate 250 in Terminal 2, will open at 6 a.m. Friday, while the Prestige West lounge, near Gates 248 and 249, began operations at 4 a.m. Thursday. Korean Air said the redesigned spaces were built around a “home away from home” concept, with expanded seating and upgraded food and beverage offerings aimed at improving comfort for passengers. The project marks the completion of a multiyear investment of 110 billion won ($80 million), spanning around three and a half years, to establish next-generation lounges at the airport, according to the airline. The first-class lounge covers 921 square meters, about 2.3 times larger than before, and features an open central hall alongside 11 private rooms. Korean Air said passengers are guided to individual suites designed to offer a quiet, privat

Apr 16, 2026By Lee Kyung-min
Korean Air unveils sprawling new lounges at Incheon Int'l Airport in premium push
Business

Hankook Tire named Germany’s top summer tire manufacturer

Hankook Tire & Technology said Thursday it ranked first in the 2026 Summer Tire Top Manufacturer of the Year category by Germany’s Auto Bild, one of Europe’s most authoritative automotive publications, underscoring its growing presence in the global premium tire market. The company said the ranking was based on a comprehensive evaluation of test results conducted over the past year across 16 global tire brands. Hankook Tire said its flagship performance brand Ventus played a central role in securing the top spot, with strong results across multiple comparative tests. In March, the ultra-high-performance tire Ventus evo ranked first in summer tire tests conducted by Auto Bild and Auto Bild Allrad, the company said, marking a double win that highlighted the product’s competitiveness. The company said the Ventus S1 evo Z, a super sports tire in the same lineup, received a rating of “good” in tests conducted by Auto Bild Sportscar during the same period. The company noted the Ventus evo features a compound developed using artificial intelligence technology, delivering a balance of h

Apr 16, 2026By Lee Kyung-min
Hankook Tire named Germany’s top summer tire manufacturer
Business

BYD expands EV lineup in Korea with new SUV, premium trim

BYD Korea is expanding its electric vehicle lineup with the 2027 SEALION 7 and a new premium Plus trim, in a move to broaden its offerings in the urban SUV segment, the company said Thursday. The newly introduced SEALION 7 Plus builds on the model’s balance of performance and space, adding a suite of premium features designed to enhance in-cabin comfort and driving satisfaction. The company said the Plus trim replaces synthetic leather seats with natural Nappa leather and adds a driver’s seat memory function, a four-way power lumbar support system and a powered leg support to improve comfort on long drives. A driver's easy access function, which automatically adjusts the seat and steering wheel during entry and exit, is also included. BYD Korea said the audio system has been upgraded with 12 speakers from Dynaudio, delivering a more immersive listening experience. The model also includes a head-up display that projects driving information onto the windshield and an automatically tilting side mirror that improves visibility when reversing. First introduced to the Korean market in Sept

Apr 16, 2026By Lee Kyung-min
BYD expands EV lineup in Korea with new SUV, premium trim
South Korea

Kwangwoon Univ., Korea Military Academy forge alliance to advance defense technology

Kwangwoon University and the Korea Military Academy forged a formal alliance earlier this week to develop high-tech defense expertise, bridging the gap between civilian engineering and military strategy. The partnership, signed by Kwangwoon University President Yoon Do-young and Korea Military Academy Superintendant Park Hoo-seong, establishes a framework for joint research and education in emerging fields such as robotics and artificial intelligence (AI). By integrating the university's technical proficiency with the military academy’s operational requirements, the two institutions said they aim to accelerate the development of advanced systems for the modern battlefield. Under the deal, the two sides will collaborate on training specialists in defense and advanced technologies, pursue joint research in areas such as AI, semiconductors, robotics, cybersecurity and unmanned systems, and develop shared undergraduate programs with mutual credit recognition. They also agreed to expand exchanges of students and faculty, share information, co-host academic events and conduct joint policy r

Apr 15, 2026By Lee Kyung-min
Kwangwoon Univ., Korea Military Academy forge alliance to advance defense technology
Business

HD Construction Equipment sees fuel-saving excavator sales surge

In a construction industry squeezed by persistently high fuel costs, a new line of high-efficiency excavators is gaining rapid traction in the Korean market. HD Construction Equipment said Wednesday that its 32-ton Hyundai HX320 has emerged as a breakout seller, with about 60 units sold since its January debut. The figure represents a more than 50 percent increase over the performance of its predecessor in the same period, as firms increasingly prioritize long-term operating efficiency over upfront equipment costs. The company said the surge reflects growing demand for machines that combine fuel savings with advanced performance. The HX320 is equipped with the company’s in-house DX08 engine and an electronically controlled hydraulic system, designed to optimize efficiency while maintaining output. The model delivers peak performance at 1,800 RPM, lowering engine speed compared with earlier versions. Fuel efficiency has improved by 25 percent, the company said, allowing operators to save about 6.6 million won ($4,500) annually based on 1,500 operating hours. The excavator is part of HD C

Apr 15, 2026By Lee Kyung-min
HD Construction Equipment sees fuel-saving excavator sales surge
Business

Kumho Petrochemical, Hyundai Motor win top industrial prize for breakthrough in recycled plastics

Kumho Petrochemical said Wednesday that it had won the IR52 Jang Young-sil Award, alongside Hyundai Motor, for developing a recycled acrylonitrile butadiene styrene (ABS) material suitable for use in mass-produced vehicle interiors. The award, one of Korea’s leading industrial technology honors, is given to companies for notable advances in research and development. The recycled plastic, once limited by inconsistent quality, has been re-engineered into a material strong enough for automotive manufacturing. The advance turns a plastic that has long been constrained by inconsistent quality into a material that meets the demands of automotive manufacturing, earning one of the country’s most prominent industrial technology honors. Kumho Petrochemical said it has now won the prize six times since 1996, representing its first win in the energy and environment sector. The joint research team upgraded recycled ABS, sourced from discarded appliances such as televisions and refrigerators, into a heat-resistant material and applied it to vehicle production for the first time in Korea. Recycled A

Apr 15, 2026By Lee Kyung-min
Kumho Petrochemical, Hyundai Motor win top industrial prize for breakthrough in recycled plastics
South Korea

Researchers at Sejong Univ. offer more efficient blueprint for satellite networks

Researchers at Sejong University have developed a new satellite deployment model that could significantly reduce the complexity of managing large-scale satellite networks like Starlink while maintaining broad global coverage. The Repeating Ground Track-Walker (RGT-Walker) improves on the decades-old Walker method used by systems such as GPS. Led by Lee Soung-sub at the university’s Aerospace Industry Research Institute, the team’s approach enables satellites to follow precise, repeating paths relative to the Earth’s surface, simplifying ground-to-satellite communications and improving the efficiency of large-scale satellite networks. The model is aimed at solving the growing inefficiencies of satellite constellations that now number in the thousands. The team said the RGT-Walker model retains the strengths of the traditional framework but uses a more precise mathematical structure to streamline calculations. It also improves key metrics, including revisit cycles and communication and observation coverage. The model is designed to work seamlessly with AI, enabling applications such a

Apr 15, 2026By Lee Kyung-min
Researchers at Sejong Univ. offer more efficient blueprint for satellite networks
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