Economy
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LG Chem starts construction of fourth carbon nanotube plant in western region
SEOUL -- LG Chem, the chemical unit of South Korea's LG Group, has started the construction of its fourth carbon nanotube plant to meet global demands for the promising material used in the production of electric vehicle batteries, aircraft hulls, semiconductors, and auto parts. The operation of the fourth plant would expand the company’s production capacity to 6,100 tons from the current 2,900 tons. Carbon nanotube (CNT) materials have about the same level of electricity
May 31, 2023 -
Hanwha Aerospace invests in American secondary battery technology startup
SEOUL -- In a bid to acquire the next-generation secondary battery technology for the company's eco-friendly future mobility businesses, Hanwha Aerospace, a global defense solution company, made an investment into Forge Nano, an American startup specializing in secondary battery material technologies. Large-capacity secondary batteries are the core factor in the electric-powered vehicle sector. Secondary batteries are also used in the renewable energy sector to store electricit
May 30, 2023 -
Amorepacific to beef up hair loss treatment business
SEOUL -- South Korea's top beauty product maker Amorepacific has hosted a conference to discuss women's hair loss with scalp experts from different countries including the United States and Japan. The South Korean company aims to roll out an anti-hair loss product based on its know-how in hair research. Government data showed that more than 240,000 South Koreans received medical services because of hair loss and female patients accounted for about 44.2 percent. According to
May 30, 2023 -
POSCO Group and SKC forge partnership to collaborate in future secondary battery businesses
SEOUL -- South Korea's steel-making conglomerate POSCO Group and SKC, the chemical material manufacturing wing of SK Group, have forged a partnership to collaborate in future businesses in the global secondary battery market predicted to reach $300 billion by 2030. Secondary batteries are basically rechargeable batteries that are used in people's everyday lives. Large-capacity secondary batteries are especially crucial in the electric vehicle sector where lithium-based
May 30, 2023 -
Shinsegae Department Store launches multilingual wholesale platform for South Korean apparel brands
SEOUL -- The department store division of South Korea's retail conglomerate Shinsegae Group has officially launched a wholesale platform for South Korean fashion brands. Shinsegae aims to incubate various talented designers through the multilingual platform called “Kfashion82” targeting the global K-fashion market. According to data released by the Korea Federation of Textile Industries, South Korea's apparel item exports to Britain, France, Italy, and the Unite
May 30, 2023 -
EU loosens regulation over exports of S. Korean instant noodles
SEOUL -- The European Union has decided to loosen regulations over imported instant noodle products, including South Korean instant noodles called "Ramyeon," by simplifying the safety verification process. Previously, the EU requested test papers that certify imported instant noodles do not contain residues of ethylene oxide and its metabolite 2-chloroethanol which could be found in soup powders of some products. Ethylene oxide (EO) is widely used as a fumigating agent fo
May 24, 2023 -
Domestic OTT service operator Wavve recapitalizes to accelerate global business operation
SEOUL -- In a bid to find a solution to expand the company's business operations to overseas countries, South Korea's domestic over-the-top service Wavve has attracted an investment of about 25 billion won ($19 million) from SK Square's American subsidiary through recapitalization. According to South Korea's fair trade watchdog, the domestic over-the-top (OTT) service market, estimated to stand at $1.9 billion in 2022, was led by Netflix, the world's largest OTT
May 23, 2023 -
Samsung Electro-Mechanics suffers inventory accumulation despite production cut
SEOUL -- Sales data showed that Samsung Electro-Mechanics, the electrical component maker in South Korea, was stricken by inventory accumulation despite the fact that the company made a bold decision in late 2022 to cut production. Samsung Electro-Mechanics mainly focuses on multilayer ceramic capacitors (MLCCs), printed circuit boards, and camera modules. The company is one of the top players in the global electric component market. The electric component maker's products are
May 23, 2023 -
Kolon Industries to develop food waste-based degradable plastic material technology
SEOUL -- Kolon Industries, a chemical and textile manufacturing company affiliated with South Korea's Kolon Group, will work with Paques Biomaterials, a Netherlands-based eco-friendly material startup, for the development of technology to mass produce food waste-based degradable plastic materials called "polyhydroxyalkanoates." Kolon Industries aims to secure resources and technology to produce eco-friendly materials in South Korea. Polyhydroxyalkanoates (PHAs) are pr
May 23, 2023 -
HD Hyundai Energy Solutions wins solar power module contract in Central African market
SEOUL -- For the first time, HD Hyundai Energy Solutions, the solar power wing of South Korea's Hyundai shipbuilding group, has won a solar power module supply contract in the Central African market. The company will provide 500-watt high-performance solar power modules to Portuguese infrastructure builder MCA for the construction of local power plants. According to the International Energy Agency, Africa has the world's largest solar energy resources of up to 60 percent bu
May 22, 2023
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Global tech firms to present smart manufacturing solutions at 'Smart Factory + Automation World' in Seoul
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Occult thriller film 'Exhuma' attracts more than 10 mln moviegoers in 35 days of release
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Education company Visang provides smart Korean language learning platform 'Klass' to Vietnamese universities
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LS Cable embarks on construction of plant for new copper foil material
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Seoul's bus labor union launches strike for first time in 12 years
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Turkish automotive association seeks partnership with S. Korean companies
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US political turmoil reflects our wider society – in 2024 and earlier elections
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S. Korean mobility solution company targets historical city as gateway to Viet Nam
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Avikus validates fuel-saving effect of self-sailing solution 'HiNAS Control'
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Life expectancy in South Korea decreases for first time since 2000