Latest news
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S. Korean cosmetics exports up 21% on-year to $9.2 billion in 2021
SEOUL -- Exports of South Korean cosmetics products hit a record high of $9.2 billion in 2021, up 21.3 percent from a year ago. This is the third-largest export performance in the world after France and the United States. Cosmetics products contributed a lot to South Korea's total year-end trade surplus. South Korea houses four world-class beauty product makers -- LG Household, Amore Pacific, Able C&C and Clio Cosmetics, along with many cosmetics startups targeting North Am
July 7, 2022 -
H2 fund reveals business groups' determination to establish hydrogen ecosystem
SEOUL -- Unswayed by uncertainties triggered by South Korea's new energy roadmap that prioritized nuclear power over renewable energy, a private business association involving major business groups revealed their determination to accelerate the establishment of a hydrogen ecosystem with the launch of an H2 fund worth about 500 billion won ($384 million). Mirae Asset, a top asset managing group in South Korea, will recruit investors by the end of 2022. "The proportion of hyd
July 7, 2022 -
Mexico favored by S. Korean EV component makers to circumvent U.S. trade restrictions
SEOUL -- Mexico is emerging as a place favored by South Korean electric vehicle component makers to circumvent trade restrictions imposed by the United States where demand for electric vehicle components is increasing with the expansion of renewable energy and eco-friendly transportation means. At Ramos Arizpe, a city in the Mexican state of Coahuila, POSCO International, a trading arm of South Korea's steel group POSCO, held a groundbreaking ceremony on July 6 for its plant to
July 7, 2022 -
Bodyfriend rolls out massage chair upgraded into healthcare product
SEOUL -- A conventional massage chair mounted with a simple pressing and kneading function has evolved into a sophisticated medical device for rehabilitation. The robot-like massage chair created by South Korean medical experts enables both legs to move separately and stimulates various muscles so that patients can quickly recover from muscle knots after having an operation. "Phantom Rovo, "a new chair developed by Bodyfriend, a Seoul-based massage chair and
July 7, 2022 -
Construction begins for U.S company onsemi's research center for SiC power semiconductors
SEOUL -- U.S semiconductor supplier company onsemi broke ground for a research center in South Korea to develop and produce next-generation silicon and carbide (SiC) power semiconductors, which are emerging as a key component of electric vehicles, with an injection of 1.4 trillion won ($1.08 billion) by 2025. onsemi's research center will be located in Bucheon, a city in Gyeonggi Province, which is about 25 kilometers (16 miles) away from Seoul. Gyeonggi Province Governor
July 7, 2022 -
SK ecoplant works with domestic venture firm to develop energy-saving water treatment solution
SEOUL -- SK ecoplant, a major waste management company affiliated with South Korea's SK Group, tied up with a domestic environmental venture enterprise to develop a new energy-saving water treatment solution that can compete with proprietary technologies possed by only a few foreign companies. SK ecoplant said it has signed a joint technology development agreement with Pure Envitech, a membrane specialist company that produces equipment for sewage and wastewater treatment.
July 7, 2022 -
LS Cable to mass-produce liquid-cooled ultra-fast cables
SEOUL -- LS Cable & System, a major cable maker in South Korea, has localized liquid-cooled ultra-fast cables that can be used for charging electric vehicles. The company improved a method used by European companies to reduce the possibility of failure due to the leakage of coolant. According to South Korea's charging standards, ultra-fast chargers for 400 kilowatts or higher must be liquid-cooled. Their charging speed is twice faster as air-cooled chargers for 50 to 250 kW
July 6, 2022 -
Hyundai Engineering joins state project to develop AI design automation technology
SEOUL -- Hyundai Engineering, a unit of South Korea's Hyundai auto group, will develop artificial intelligence-based design automation technology that automatically recognizes and extracts necessary information in engineering design drawings and documents. A consortium involving Hyundai Engineering and research institutes has been selected for a 33-month state project to develop AI-based design automation technology that would increase efficiency by shortening working hours whil
July 6, 2022 -
Nokia bolsters cooperation with LG Uplus to acquire 6G technologies
SEOUL -- Nokia, a Finnish telecom equipment maker, joined hands with its South Korean partner, LG Uplus, to strengthen cooperation in their research and development related to 5G Advanced and 6G. 5G Advanced is the next evolutionary step in 5G technology and supports advanced applications with enhanced mobility and high reliability. Cooperation covers network structure expansion, frequency expansion, and service space expansion technologies required for 6G networks in which s
July 6, 2022 -
KT bolsters bid to localize GPUs through investment in AI semiconductor fabless company
SEOUL -- South Korea's top telecom company KT bolstered its bid to localize high-performance graphic processing units (GPUs) and establish a mega-sized GPU farm by making a strategic investment worth 30 billion won ($23 million) in Rebellions, a domestic AI semiconductor fabless company. The goal is to reduce South Korea's heavy dependence on imported products. Rebellions has a competitive technology in designing an application-specific integrated circuit (ASIC), which is an
July 6, 2022
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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
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Korea reports world's first demonstration of integrated operation of urban air mobility systems
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SNU professor to spearhead Korea's inaugural space agency
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HD Hyundai establishes new headquarters for marine energy businesses
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Video streaming services in Korea sharply raise subscription fees
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Korea launches first nanosatellite in New Zealand