Latest news
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Hyundai Glovis acquires U.S. vehicle auction dealer GEAA to expand global business
SEOUL -- Hyundai Glovis, the logistics wing of South Korea's Hyundai auto group, acquired Greater Erie Auto Auction (GEAA), a U.S. dealer in vehicle auction, to turn it into an online-oriented auction house by gradually introducing digital technologies such as a multi-channel network auction system and augmented reality. GEAA would be Hyundai Glovis' wholly-owned subsidiary, but financial terms were not disclosed. Utilizing its geographical advantages, ease of use, and ch
October 4, 2022 -
Samsung Electronics discloses plans for mass production with 1.4-nanometer process technology in 2027
SEOUL -- In a strategy to strengthen its foundry business in competition with Taiwan Semiconductor Manufacturing Company (TSMC), Samsung Electronics has confidently disclosed a goal to mass produce advanced semiconductors with 1.4-nanometer (nm) process technology in 2027. There has been no commitment yet from TSMC to 1.4nm chips. A semiconductor fab or known as a foundry operates for the purpose of fabricating the designs of other companies, such as fabless semiconductor companie
October 4, 2022 -
Naver acquires U.S. social ecommerce marketplace Poshmark to secure commerce competitiveness
SEOUL -- Naver, a top web portal operator and IT company in South Korea, will acquire 100 percent and management rights of Poshmark, a leading social ecommerce marketplace in North America, for $1.6 billion to secure commerce competitiveness by proactively responding to the global C2C (consumer to consumer) market, which is evolving into a vertical platform. The deal including Poshmark's cash holdings of $580 million is to close by the first quarter of 2023, Naver said in a re
October 4, 2022 -
No hurry in selling HMM to new company, not foreign company or private equity fund
SEOUL -- HMM, a major shipping company controlled by creditors in South Korea, has seen brisk performances, heightening expectations about its normalization before being sold to a new private owner. However, policymakers took a cautious stance over its sale which emerged as a buzzword after Hanwha Group was picked as the potential owner of a major shipyard controlled by a state policy bank. "There is no need to sell HMM right now like Daewoo Shipbuilding & Marine Engineeri
September 30, 2022 -
Hyundai Rotem's hydrogen tram requires four fuel cells and high-power lithium-ion batteries
SEOUL -- A hydrogen tram being developed by Hyundai Rotem, a train-making subsidiary of South Korea's Hyundai auto group, will be equipped with four 95-kilowatt fuel cells, high-power lithium-ion batteries, six hydrogen tanks, and an integrated stack and cooling device. Construction costs are relatively low and external power supply infrastructure is not required. Hyundai Rotem gave an explanation of the technology and development status of hydrogen electric trams at a green
September 30, 2022 -
Online fashion store Musinsa nests in Seoul's hottest fashion & trends district
SEOUL -- South Korea's popular online apparel store Musinsa has moved its head office to a vibrant fashion district in eastern Seoul that has transformed its shape from a rusty industrial town full of leather and metal workshops operated by veteran craftsmen. The Seongsu area now attracts young fashion and trends enthusiasts. Musinsa is an online fashion mall startup unicorn established in 2003. The company first nested in Apgujeong in southern Seoul 10 years ago when the river
September 30, 2022 -
SK siltron makes aggressive investments to gain upper hand in global competition
SEOUL -- Undaunted by a global economic slowdown and inflationary pressure weighing down the demand for memory chips, SK siltron, a wafer company affiliated with South Korea's SK Group, is pushing ahead with an aggressive expansion of its production capacity. A wafer is a thin round slice of semiconductor material used for the fabrication of integrated circuits and other devices. Silicon wafers are available in a variety of diameters. The diameter of wafers has gradually incre
September 30, 2022 -
Australia and Argentina cited as alternative key material suppliers for S. Korea
SEOUL -- Australia is a supplier of important minerals used for electric vehicle batteries and other products in South Korea, but a non-profit trade organization in Seoul suggests that companies should step up efforts to diversify supply lines and avoid risks from their reliance on China. The Korea International Trade Association (KITA) said in a report that the proportion of lithium imports from China rose to 59 percent in 2021 from 47 percent a year ago. South Korea's reliance
September 29, 2022 -
SK ecoplant ties up with China's CNGR to tap Europe's waste battery recycling market
SEOUL -- SK ecoplant, an environmental and energy solution provider affiliated with South Korea's SK Group, tied up with CNGR Advanced Material, a Chinese producer of lithium battery cathode material precursors, to tap Europe's waste battery recycling market. Under a collaboration agreement, SK ecoplant and CNGR would join forces to recycle waste batteries and revitalize the supply of raw battery materials such as nickel and cobalt, establish a European base, and seek new
September 29, 2022 -
Cummins partners with KHNP to cooperate in green hydrogen production and utilization
SEOUL -- Cummins, a U.S. producer of engines and power generation products, established a strategic partnership with the operator of nuclear power plants in South Korea, to cooperate in the field of green hydrogen production and utilization. They will demonstrate and commercialize water electrolysis facilities that use electricity to decompose water into oxygen and hydrogen gas. Under a memorandum of understanding, Cummins and Korea Hydro & Nuclear Power (KHNP) will produce gre
September 29, 2022
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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