Latest News
- SK on signs five-year contract to receive key lithium battery material from Chile's SQM SEOUL -- SK on, a battery maker affiliated with South Korea's SK Group, has signed a five-year contract to receive about 57,000 tons of lithium hydroxide, a key material for electric vehicle batteries, from SQM, a Chilean supplier of plant nutrients, iodine, lithium and industrial chemicals, as part of efforts to reduce its reliance on Chinese raw materials regulated by a U.S. inflation reduction act. Shipment is to begin in 2023. SK on said that the two sides would discuss futu 7 November 2022
- Researchers develop highly efficient and stable perovskite solar cells using new technique SEOUL -- South Korean researchers have developed highly efficient and stable perovskite solar cells using a special technique to create a layer between cell components that would prevent energy loss when solar cells absorb sunlight and convert it to electricity. Currently, silicon-based solar cells are widely used but their maximum energy conversion efficiency is about 30 percent based on the assumptions of perfect sunlight absorption and no energy loss due to non-radiative charg 4 November 2022
- Virtual face creator app 'VeryMe' adopts guidelines to address ethical and legal concerns SEOUL -- LionRocket, an artificial intelligence startup in South Korea, issued ethical guidelines on the use of "VeryMe," the world's first virtual face creator app that allows users to create and use their own unique virtual face based on their real face, to address ethical and legal concerns that may arise from the use of new technologies. VeryMe, unveiled in September 2022, is the first app in the industry to create a virtual face for ordinary people who want to h 4 November 2022
- AI-based smart radar sensors installed to protect state seed vault for preserving biodiversity SEOUL -- LG Uplus has launched an AI-based smart radar service at South Korea's only seed vault, which is run by a state arboretum in a mountainous area to store seeds donated by institutions from all over the world and preserve biodiversity. Smart radar sensors were installed at the seed vault's entrance and archives to automatically detect the movement and location of intruders. A smart radar system in a toilet used by visitors can quickly recognize safety accidents. The 4 November 2022
- Demonstration center for autonomous boast starts operation in southern port city SEOUL -- A demonstration center for autonomous vessels was placed into operation in the southern port city of Ulsan, serving as South Korea's main intellectual hub for acquiring core self-saling technologies. Thanks to the development of artificial intelligence and super-fast processor chips, the global autonomous vessel market is estimated to reach $3.9 billion by the end of 2022. The market for self-sailing ships will grow at an annual average growth rate of 9.6 percent to re 3 November 2022
- BTS agency posts 7.6 percent drop in Q3 operating profit despite brisk sales SEOUL -- Hybe posted a 7.6 percent drop in operating profit in the third quarter of 2022 amid predictions that next year's earnings rate will be worse due to the enlistment of BTS members who accounted for up to 65 percent of sales. The multi-label agency anticipates better earnings in 2024 thanks to the good performance of rookies and other artists. Hybe's consolidated third-quarter sales were estimated at 445.5 billion won ($313.9 million), up 30.6 percent from a year ago, 3 November 2022
- Researchers discover method to quickly cultivate microalgal strain for biofuel production SEOUL -- A state-run research body in South Korea has discovered a method to quickly cultivate a microalgal strain from cyanobacteria, known as blue-green algae, that can produce twice as much biofuel as other microorganisms due to rapid proliferation. The study opened the way for researchers to commercialize cyanobacteria-based carbon-neutral fuels. Biofuel can be produced from plants or from agricultural and industrial biowaste. The two most common types of biofuel are bioethano 3 November 2022
- WeMade attracts new investment from Microsoft and domestic investors SEOUL -- WeMade, an online game developer that created "The Legend of Mir," a free-to-play fantasy massively multiplayer online role-playing game, has attracted strategic investment from Microsoft and two other domestic investors, shaking off skepticism among individual investors over its aggressive push for the establishment of a digital economy platform. WeMade said it has secured a fund of 66 billion won ($46 million) from Shinhan Asset Management, Kiwoom Securities and 3 November 2022