Latest news
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LG Chem's lightweight plastic material used as exterior part of Mitsubishi vehicles
SEOUL -- A lightweight plastic component developed by LG Chem, the chemical unit of South Korea's LG Group, was used as an exterior part of vehicles made by Mitsubishi Motors, one of Japan's largest car makers. The new material which is about 8.8 pounds lighter than steel material can improve fuel efficiency and reduce carbon emissions. The plastic material called "LUCON TX5007" was used in the front fender of Mitsubishi Motors. Front fenders located on the side o
January 10, 2023 -
Shipbuilders suffer acute manpower shortage
SEOUL -- South Korean shipbuilders are suffering from an acute shortage of workforce when they already secured orders of vessels to be constructed in the next three years. The shortage has been caused not only by brisk orders, but also by negative factors such as low wages and difficult working conditions, according to industry and labor experts. They pointed out that more and more shipbuilding workers have quit their job and moved to other workplaces because their wages contin
January 10, 2023 -
Broadcom offers fund worth $15.8 million to voluntarily correct unfair practices
SEOUL -- Broadcom Inc., a U.S. chipmaker, has offered to set up a 20-billion-won ($15.8-million) fund as part of voluntary measures to correct its alleged unfair business practices, the Korea Fair Trade Commission (KFTC) said on January 9. The proposal is seen as a move by Broadcom to avert any penalty from the antitrust regulator, or criminal charges for allegedly violating competition laws here in Korea. The KFTC said that it has been investigating allegations that the Americ
January 10, 2023 -
[CES 2023] HD Hyundai's holding company partners with Estonian SOFC manufacturer to develop fuel cells for ships
SEOUL -- Korea Shipbuilding & Offshore Engineering, the holding company of HD Hyundai, has partnered with Elcogen, a solid oxide fuel cells manufacturer in Estonia, to develop fuel cells for vessels and power generation. The two companies will also work with a German-based applied science research institute specializing in energy storage and fuel cell systems. Solid oxide fuel cells (SOFC) generate electrical energy by converting chemical energy through an electrochemical proce
January 10, 2023 -
Sales of pet food items of Shinsegae's online shopping mall increase 30 percent on-year
SEOUL -- Sales of pet food items at SSG.com, an online shopping mall operator run by South Korea's retail giant Shinsegae, significantly increased between January 2022 and January 2023, compared to a year ago. The online ecommerce operator said dog pads which are put on the floor when dogs defecate were best-selling products at its pet product shopping mall called "Molly's SSG." According to data released by SSG.com, dog pads were the most popular item as of Janua
January 9, 2023 -
[CES 2023] Lululab teams up with digital health management company Hancom Care Link to develop AI skincare analysis platform
LAS VEGAS -- Lululab, an artificial intelligence-based healthcare analysis company in South Korea, has partnered with Hancom Care Link, a digital healthcare platform operator specializing in gene analysis, to develop a smart skincare analysis platform. The platform with various skin data with patients' different physical features will be provided to medical centers associated with Hancom Care Link. Data released by market research firm Global Data showed that the South Korean s
January 9, 2023 -
Korea to standardize core technologies such as self-driving, AI, digital transition
SEOUL -- The South Korean government has decided to push for standardization of new core technologies such as self-driving, artificial intelligence (AI), and digital transition. The Ministry of Trade, Industry and Energy said on January 9 that it will step up cooperation with the Korean Agency for Technology and Standards (KATS) in standardizing the country’s new technologies as part of efforts to explore new markets and boost exports. The KATS, aligned with the ministry,
January 9, 2023 -
Manufacturing industry leads economic slump: KDI
SEOUL -- South Korea's manufacturing sector is losing steam in the face of sluggish exports affected by a worldwide economic downturn, according to the Korea Development Institute (KDI). The state-funded think tank said on January 8 that the country has entered the phase of an economic slowdown amid sluggish overseas shipments of Korean products. It added that the manufacturing industry is taking the brunt of the downturn. Falling exports of semiconductors, the country'
January 9, 2023 -
LG Electronics suffers earnings shock in fourth quarter amid global economic slowdown
SEOUL -- LG Electronics, South Korea’s leading home appliance company, said on January 6 that its operating profit plunged 91.2 percent to 65.5 billion won ($51.6 million) year-on-year in the fourth quarter of last year amid a global economic slowdown. The company said that its profitability deteriorated due to sluggish demand, soaring prices of raw materials, and higher costs of distribution and marketing, despite a relatively strong performance in LG’s premium home ap
January 9, 2023 -
Naver adopts disaster damage assessment feature to elderly care call service
SEOUL -- South Korea's web service giant Naver has adopted a disaster damage assessment feature to its elderly care call service. Naver's artificial intelligence-based assistants will make their routine phone calls to elderlies and check up on them by starting a natural conversation. AI assistants will ask how old people are coping with disastrous situations. The number of single-person households has been rapidly increasing in South Korea with a population of about 52 mill
January 9, 2023
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Seoul unveils new slogan for iconic landmark 'Dongdaemun Design Plaza'
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VIDEO: Dongdaemun Design Plaza celebrates 10th anniversary
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Korean e-commerce firms vying to lure customers quitting Coupang over fee hike
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N. Korean leader inspects test-firing of new multiple rocket launcher shell
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Korean football team fails to qualify for Olympics for first time in 40 years
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Seoul aims to revitalize Han River into leisure, tourism hub
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Education startup Mathpresso makes TIME's top edutech company list
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Vietnamese schools adopt AI-based Korean learning platform
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VISUALS: Premier electric vehicle fair underway in Seoul
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HYBE takes legal action against NewJeans agency CEO amid management control feud