Economy

• S. Korean robot startup wins state approval to release AI-based recycling robots Seoul -- South Korea's recycling robot maker EAPS won government approval to commercialize an artificial intelligence-based recycling robot that is capable of sorting waste materials and recycling them into waste plastic pyrolysis oil. The robot producer plans to install the new product at apartment complexes in Suwon some 34 kilometers (21 miles) south of Seoul. In South Korea, most recyclable materials are sorted by categories such as plastic, metal, and paper before being throw 27 September 2023
• S. Korea and Qatar discuss ways to strengthen LNG-based distribution network SEOUL -- South Korea and Qatar discussed ways to strengthen their liquefied natural gas distribution network through a meeting of the two countries' energy ministers. South Korea and Qatar's trade volume reached $17.1 billion in 2022 and maintained a strong trade partnership based on LNG and LNG tankers despite the growing uncertainties in the global energy market. South Korea's Trade, Industry and Energy Minister Bang Moon-kyu met with Saad Sherida Al-Kaabi, Qatar's Mi 27 September 2023
• Startups welcome justice ministry's decision to withdraw restrictions from mobile lawyer service SEOUL -- Information technology-related ventures and startups welcomed the justice ministry's decision to cancel the disciplinary actions against lawyers who provided legal consulting services through LawTalk, an online legal consulting platform that provides matchmaking services for lawyers and clients. LawTalk, operated by Law & Company, was launched in 2014 to provide ordinary people with easy access to law-related services. While almost every legal service in South Korea is 27 September 2023
• ​More than 1.9 billion Spam products sold in S. Korea as of 2022 SEOUL -- Spam, a popular canned pork brand made by American food processing company Hormel Foods, is being widely consumed in South Korea. More than 1.9 billion 200-gram (0.4 pounds) Spam products were sold in the country as of 2022, data released by CJ Cheiljedang, a South Korean food company in charge of domestic spam production, showed. Canned pork was first introduced during the Korean War (1950~1953) when the United States' armed forces fought alongside South Korea to repel No 26 September 2023
• Donga Social Holdings partners with LS E-Link to cooperate in EV charging infrastructure development SEOUL -- Dong-A Social Holdings, the holding company of South Korean drug maker Dong-A Pharmaceutical, has partnered with LS E-link, the electric vehicle charging station wing of energy infrastructure maker LS Group, to cooperate in the acceleration of EV infrastructure development. As of 2022, there were some 400,000 clean energy vehicles registered in South Korea where some 5.5 million vehicles roam the roads. The number of registered clean energy vehicles, mostly EVs, increased by 25 September 2023
• Taihan Cable wins $60 mln high voltage power grid project order in Bahrain SEOUL -- Taihan Cable & Solution, a power cable and grid infrastructure company in South Korea, has secured an order worth $60 million to establish an extra high-voltage power grid in Bahrain. A 400-kilovolt-class power grid will be installed to supply electricity for a new substation that will be built on the western coastal region "Al Jasra." Taihan Cable said in a statement on September 22 that the company made a foray into the Bahraini market through an order by the E 22 September 2023
• Hyundai E&C plans to open new branch in Warsaw to expand small modular reactor business SEOUL -- South Korea's major builder Hyundai Engineering and Construction plans to open a new branch in Poland to provide small modular reactors that are smaller and safer than conventional nuclear reactors. Through the new office in Warsaw, the company would expand its nuclear reactor business to other European countries including Lithuania, Romania, and Slovakia. Small modular reactors (SMRs) can address the limitations of conventional light-water reactors light-water reactors us 18 September 2023
• ​CJ Logistics to build inland container depot in Ukraine's northwestern region SEOUL -- South Korea's major logistics company CJ Logistics has partnered with JJ Group, an investment firm in Ukraine, to build an inland container depot with a total capacity of five million tons of cargo in Ukraine's northwestern city of Lutsk. The facility will be used to supply food resources such as grain and cooking oil to Ukrainians. Inland container depots, also known as dry ports, are mainly located in industrial zones that connect ports and inland transportation such 18 September 2023

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