As geopolitical tensions in the Middle East drive oil tanker rates to new heights, South Korean shipping companies are rapidly securing Very Large Crude Carriers (VLCCs). Following significant investments in second-hand vessels, these companies are also expanding their orders for new ships to strengthen their market presence. However, with the VLCC market entering an unprecedented order cycle, concerns about structural oversupply are growing.According to industry sources, Pan Ocean has invested

Bill Gates, founder of TerraPower and chairman of the Gates Foundation, met with key South Korean business leaders, including Chey Tae-won, chairman of SK Group, and Chung Ki-sun, chairman of HD Hyundai, on August 14. As TerraPower begins to ramp up construction of next-generation nuclear power plants in the United States, South Korean companies are expected to increase their participation in equipment supply and project involvement.SK Innovation to Actively Participate in Global SMR Business wi

SK Group Chairman Chey Tae-won has filed an appeal against a ruling regarding the division of assets in his divorce from Art Center Nabi Director Noh So-young. This means the legal dispute over the 944 billion won ($944 million) asset division will once again be reviewed by the Supreme Court.According to the SK Supex Council on August 15, Chey's legal team submitted the appeal just before the deadline on August 14. They stated, "Chairman Chey submitted the appeal after careful consideration of v

President Lee reaffirms plans for constitutional amendment to decentralize power President Lee Jae-myung has reiterated his proposal for a constitutional amendment aimed at decentralizing presidential powers and introducing a four-year term limit or re-election system. He stated that discussions on the amendment should be led by the National Assembly based on bipartisan agreement, and he is open to shortening his term if necessary to facilitate the amendment's passage. On August 14, President

OpenAI's annual revenue has surpassed $40 billion (approximately 55 trillion won).According to Yonhap News on August 14, OpenAI's annual revenue has exceeded $40 billion, doubling from about $20 billion at the end of last year.The company's revenue has rapidly increased in recent months, partly due to the growth of its coding models, as well as rising sales from subscriptions and its nascent advertising business. The consumer segment, a core part of its operations, is also reported to be continu

OpenAI is set to host a game development hackathon utilizing its coding agent, Codex. This event marks the first global gathering focused on game development using Codex, aiming to showcase the potential of AI-driven game development with South Korea's robust developer community and thriving gaming industry.The "OpenAI Game Builders Seoul" event will take place on the 31st in Seoul, supported by Com2us, under the theme "Build with Codex, Play on Hive."Codex is OpenAI's coding agent that assists

The National Institute of Korean History has responded to the controversy surrounding Ha Young's ancestor, Ahn Sang-ho, stating that his pro-Japanese activities are evident and calling for historical reflection and accountability. The institute clarified that the absence of Ahn's name from the pro-Japanese dictionary does not negate or absolve his pro-Japanese actions.In a statement released on the 14th, the institute emphasized, "The fact that he is not listed in the pro-Japanese dictionary doe

The Small Business Market Promotion Agency announced on the 14th that it held the launch ceremony and first meeting of its 'Intelligent Information Committee' at its headquarters in Yuseong-gu, Daejeon, on the 13th.The committee is tasked with proactively responding to changes in artificial intelligence (AI) technology and coordinating, reviewing, and advising on the agency's mid- to long-term intelligent information policies and AI transformation (AX) projects.It comprises over ten experts from

A new Ebola death has been reported in the Democratic Republic of Congo, raising concerns about the spread of the virus in areas previously unaffected. According to Yonhap News Agency, Dr. Jean Kaseya, the Director General of the Africa Centers for Disease Control and Prevention (CDC), announced during a virtual press conference on August 13 that a man who died in Baoule Province tested positive for Ebola. The deceased was a motorcycle taxi driver who had traveled from the existing Ebola outbrea