Latest news
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40% of S. Korean startups stranded in tougher situation than 2022: survey
SEOUL -- About 40 percent of South Korean startups feel that they are put in a tougher situation than it was a year ago, a survey showed. Startups said the main reasons for the hardships in the operation of companies were reduced investments, increased operation costs due to raw materials price hikes, and lack of manpower. According to data released by the startup ministry, there were some three million startups in operation as of 2020. 22 percent of startups were technology-based, mea
October 19, 2023 -
LIG Nex1 partners with German weapon maker Diehl Defence to produce 'IRIS-T' missiles in S. Korea
SEOUL -- LIG Nex1, a defense contractor in South Korea, has partnered with German weapon manufacturer Diehl Defence to establish production and maintenance infrastructure for "IRIS-T," an air-to-air missile made by the German arms maker, in South Korea. The short-range missile is set to be integrated with South Korea's homemade fighter jet KF-21. Diehl Defence led the IRIS-T development project which involves members of the North Atlantic Treaty Organization (NATO). T
October 19, 2023 -
Biotech seminar held in Seoul to promote biotechnology cooperation between S. Korea and Brazil
SEOUL -- At a seminar designed to promote biotechnology cooperation between South Korea and Brazil, researchers and business operators from the two countries shared know-how in vaccines and biopharmaceuticals. The media conference, hosted by the Brazilian Embassy in Seoul, focused on Brazil's state project to expand vaccine access to the general public through research and development cooperation with South Korea. "The seminar aims to find a way to collaborate in the fields o
October 18, 2023 -
Food maker Nongshim to invest 10 bln won for incubation of food technology startups
SEOUL -- To incubate food technology startups, South Korea's major food maker Nongshim will invest five billion won ($3.7 million) each in two funding projects for startups. The funding projects will be operated by domestic venture capital investment companies Stonebridge Ventures, and IMM Investment. Nongshim is South Korea's iconic food company that is well-known for its best-selling lineups of instant noodles and snacks. South Korean instant noodles called Ramyeon have g
October 18, 2023 -
Lotte Mart to attract wine and whisky lovers through special sale event
SEOUL -- Lotte Mart, the mega-mart franchise operated by South Korea's confectionary giant Lotte Group, will seek to attract wine and whisky lovers through a special autumn sale event. While wine maintains its position as one of the country's favorite alcoholic beverage types favored by middle-aged consumers, whisky has garnered explosive popularity among young consumers in their 20s and 30s during the last five years. Whisky was the icon of old people's drinking culture
October 18, 2023 -
Hyundai Wia partners with brother company to develop flying taxi landing systems
SEOUL -- Hyundai Wia, a parts-making wing of South Korea's Hyundai auto group, forged a partnership with Supernal, an independent urban air mobility company set up by Hyundai's United States office, in a bid to develop special landing systems for flying taxis. Urban air mobility (UAM) is infrastructure for commercial flying passenger vehicles that includes vertiports and control towers. Aerial vehicles are required to fly through designated aerial corridors to prevent acciden
October 18, 2023 -
Coupang launches free warranty service for some 400 categories of home appliances
SEOUL -- Coupang, the South Korean counterpart of Amazon, has taken a bold step to solidify its position as the top player in the country's red ocean ecommerce market. The company released a free warranty service for customers who buy home appliances through Coupang's one-day "Rocket Delivery" program. Launched in 2010, Coupang started off as a social media-based online shopping mall that offers cheaper products. The company adopted the Rocket Delivery system that u
October 18, 2023 -
CJ Cheiljedang releases plant-based dumpling in Britain and Australia
SEOUL -- CJ Cheiljedang, a key subsidiary of South Korea's food and entertainment conglomerate CJ Group, has rolled out plant-based dumpling products in Britain, Australia, and Singapore. The plant-based products can be easily cooked using a microwave as they are provided with dumpling trays. The products are included in Cheiljedang's premium ready-to-cook product brand "Bibigo." The food company has nurtured Bibigo as a global brand. The brand has various food it
October 18, 2023 -
S. Koreans express mixed feelings towards commemoration of tragic accident in Itaewon
SEOUL -- Various groups of South Koreans are expressing mixed feelings towards the commemoration of the tragic accident in a party district near central Seoul that took place on the eve of Halloween in 2022. A human stampede has taken the lives of 159 people and left dozens severely injured. Halloween Eve on October 30, 2022, is remembered as one of South Korea's worst safety accidents. 159 people were killed and 76 others injured during a deadly stampede in Itaewon, a district nea
October 17, 2023 -
S. Koreans pick shrimp crackers 'Saeukkang' as favorite snack: market data
SEOUL -- South Koreans chose "Saeukkang," shrimp crackers made by major food company Nongshim, as their favorite snack in 2022, market data showed. The shrimp cracker that was first released in the early 1970s has captured all age groups through generations. Saeukkang first hit the domestic market in 1971 when most of the mass-produced South Korean snacks were low-quality and based on traditional snacks that have bland flavors. The shrimp crackers were inspired by the popul
October 17, 2023
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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
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Pinkfong creates Baby Shark-themed musicals to captivate global fans
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LG Electronics, Kakao Mobility collaborate on delivery robot service
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Analysts predict poor earnings for major Korean game publishers in first quarter
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Carmakers, tech firms gather in Seoul for premier industry show
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Label control battle casts shadow over NewJeans' comeback