Author: Seoul Reporter

Korea’s customs authorities on Thursday introduced plans to cut back paperwork necessities and velocity up the customs clearance course of for imports, a transfer geared toward lessening regulatory burdens on native companies.Below a revised legislation at the moment present process administrative discover, procedures for re-importing returned items might be simplified, in keeping with the Korea Customs Service (KCS).Beforehand, corporations had been required to submit documentation if the whole worth of a number of gadgets mixed in a single import declaration exceeded $150.Below the revision, the requirement will apply solely when every merchandise class exceeds $150, easing the burden for corporations…

(Courtesy of Yonap) The Korean received fell to its weakest degree in seven months on Thursday, weighed down by a pointy decline within the Japanese yen following studies of Japan’s large spending plan.The received briefly weakened previous 1,470 to the greenback in afternoon commerce, earlier than closing at 1,467.90, up 2.3 received from the day prior to this. That marked its weakest shut since April, when the received touched 1,484.10.It opened home commerce at 1,467.4 per greenback and prolonged losses to 1,470.1 at one level, revisiting the 1,470 degree for the primary time in every week.The Japanese yen plunged to…

Export automobiles are parked at Pyeongtaek Port in Gyeonggi Province. (Captured from Yonhapnews TV) Final month, resulting from diminished working days from the prolonged Chuseok vacation, vehicle exports, home gross sales, and manufacturing all turned to say no in comparison with the identical month final 12 months. U.S. vehicle exports continued their decline for the eighth consecutive month since March. In keeping with the October Automotive Trade Traits introduced by the Ministry of Commerce, Trade and Sources on Nov. 20, final month’s vehicle export worth was $5.55 billion, a ten.5% lower in comparison with the identical interval…

SAN FRANCISCO — Nvidia’s gross sales of the computing chips powering the bogus intelligence craze surged past the lofty bar set by inventory market analysts in a efficiency that will ease current jitters a couple of Massive Tech increase turning right into a bust that topples the world’s most respected firm.The outcomes introduced late Wednesday supplied a pulse test on the frenzied spending on AI expertise that has been fueling each the inventory market and far of the general economic system since OpenAI launched its ChatGPT three years in the past.Nvidia has been by far the most important beneficiary of…

As synthetic intelligence (AI) reshapes the worldwide higher-education panorama, long-standing college rating methods are beneath strain to maneuver past static, output-driven metrics and higher account for the way establishments innovate and construct digital capability.The sixteenth College Rating Discussion board of Korea (URFK) on Thursday examined how international college rankings should evolve within the AI period — and the place Korean universities presently stand.“Evaluations are a possibility to reaffirm a college’s core mission and future imaginative and prescient,” Ewha Womans College President Lee Hyang-sook stated in her opening remarks.Launched in 2014 and held yearly since, the URFK introduced collectively round 100…

Then-President Yoon Suk-yeol (proper) and then-Protection Minister Kim Yong-hyun applaud throughout a navy parade for Armed Forces Day on Oct. 1, 2024. Each have now been charged with treason, on high of standing trial on expenses of rebellion. (Kim Tae-hyeong/Hankyoreh) New particulars have emerged about former Protection Minister Kim Yong-hyun repeatedly pressuring the Joint Chiefs of Employees and others to conduct strikes towards the supply of North Korean trash balloons and fireplace warning pictures in October 2024. Such insistence appears to have stemmed from Kim’s frustration that an operation to fly drones over Pyongyang did not elicit a response that…

McKinsey & Co. introduced the promotion of three affiliate companions from its Korea workplace, the worldwide consulting agency stated Thursday. They’re An Yu-jin, Yeom In-ji and Lew Jeong-hwa.An leads McKinsey’s electrical energy and pure fuel observe within the Seoul workplace. With over a decade of expertise within the vitality sector, she has a complete understanding of the essential challenges and evolving wants related to vitality transition.Leveraging her intensive experience, she has efficiently suggested a broad vary of purchasers each inside Korea and globally, serving to them navigate enterprise transformation and establish new development alternatives.She helped develop a world market entry…

The Nationwide Pension Service (NPS), South Korea’s state-run pension fund and the nation’s largest institutional investor, has secured a landmark victory in Sweden, successful recognition that it’s exempt from withholding tax on dividends from Swedish listed equities. The choice will return about 11.5 billion received ($7.8 million) to the fund and cut back its annual tax burden.

In a handwritten notice, the democratically elected mayor of the capital of Albania confessed that it’s exhausting to do his job: He has been locked in a jail cell for the previous 9 months.Erion Veliaj was — and maybe nonetheless is — a strong politician in Albania’s ruling Socialist Occasion. As a former social activist and the favored mayor of Tirana, he might need adopted his predecessors to grow to be prime minister or president. As an alternative, his future is cloudy, to say the least.

One soldier was injured Thursday morning after an explosion occurred contained in the Demilitarized Zone (DMZ) separating the 2 Koreas, officers stated.The explosion occurred at 9:20 a.m. on the western entrance of the DMZ in Paju, Gyeonggi Province, for unknown causes, in line with officers.A 24-year-old Military workers sergeant, who was on a mission to detect land mines on the southern facet of the inter-Korean border on the time, sustained what’s presumed to be an ankle fracture because of the blast.He was carrying anti-mine protecting gear and sustained non-life-threatening accidents, officers stated. Navy authorities are investigating the precise explanation for…