Economy

• 
  Harman acquires German car technology company to beef up in-vehicle AR and VR capabilities SEOUL -- Harman International, the vehicle electronics-making wing of Samsung Electronics, has acquired Apostera, a Germany-based automotive technology company, to beef up the company's capabilities in augmented reality and virtual reality software solutions for vehicles. Harman announced the acquisition of the German in-vehicle display technology company through a statement on February 10. "Apostera’s augmented reality (AR) and mixed reality (MR) software solutions 2022-02-11
• 
  GS25 partners with major food material maker to beef up vegan product lineup SEOUL -- South Korea's second-largest convenience store chain GS25 has partnered with Taekyung Nongsan, the food material wing of food and beverage company Nongshim, to beef up the lineup of vegan products. GS25 currently sells 20 ready-to-eat vegan food products including soups, snacks and lunchboxes targeting South Korea's some two million vegan population. During the last few years, the number of vegans has steadily increased in South Korea thanks to increased awareness 2022-02-11
• 
  ​KT partners with S. Korean hairdresser association to distribute AI call assistant service SEOUL -- South Korea's biggest telecom company KT has partnered with a coalition of hairdressers to popularize an artificial intelligence-based call assistant service. The smart assistant service will help small-sized hair salons and one-man barber shops manage incoming reservation calls and customer-related inquiries. An automatic response system (ARS) uses interactive voice response (IVR) technology which allows incoming callers to access information through a response system 2022-02-10
• 
  Airbus partners with KAL and other companies to establish airport infrastructure for hydrogen planes SEOUL -- Airbus, a European multinational aerospace corporation, tied up with Korean Air and other companies to establish a supply system and airport infrastructure for hydrogen-powered commercial airplanes in South Korea, which is aggressively pushing for the introduction of a hydrogen ecosystem encompassing transportation, electricity generation and other fields. Airbus said it has signed a memorandum of understanding with Korean Air (KAL), Air Liquide S.A., a French supplier of 2022-02-10
• 
  Samsung Engineering wins $1.14 bln order to participate in Russia's petrochemical project SEOUL -- Samsung Engineering, a construction and project management company in South Korea, has secured a deal worth one billion Euros ($1.1 billion) to participate in the construction of ethane crackers in a petrochemical and gas complex at Ust-Luga in near Russia's shoreline of the Gulf of Finland. As a subcontractor for China National Chemical Engineering No. 7 Construction Company (CC7), the original contractor with Russia's Baltic Chemical Complex LLC (BCC), Samsung E 2022-02-09
• 
  Mesh Korea to demonstrate delivery service in skyscrapers using Bear Robotics' autonomous robot SEOUL -- Mesh Korea, a smart logistics company that operates a food delivery service called VROONG, partnered with the South Korean branch of Bear Robotics, a U.S. autonomous serving robot developer, to start a last-mile delivery service. Bear Robotics' robots will be deployed to skyscrapers to help delivery workers save time. The last-mile delivery service is the last step of the delivery process. Using autonomous service robots instead of human delivery workers, companies can 2022-02-09
• 
  Krafton partners with ZEPETO operator to push for metaverse, blockchain-based games and NFT businesses SEOUL -- Krafton, the developer of popular online games such as "PlayerUnknown's Battlegrounds," joined forces with the operator of South Korea's popular metaverse platform ZEPETO to push for new businesses in the era of Web 3.0, a new iteration of the blockchain-based World Wide Web that incorporates concepts including decentralization and token-based economics. Technologists have described Web 3.0 as a possible solution to concerns about the over-centralization 2022-02-09
• 
  Researchers develop ride through test equipment for world's largest wind power generator SEOUL -- A state research body in South Korea has developed equipment and technology that can test and evaluate the system-linked suitability of the world's largest wind power generator. The low or high voltage ride through of all wind power generators introduced in South Korea can be evaluated. The fault ride through capability of wind turbines is becoming more important with the rapid growth of wind power installed capacity. Low and high voltage ride-through capacities shoul 2022-02-09
• 
  KT works with MTS to build internet data centers in Russia SEOUL -- South Korea's top telecom company will set up a joint venture with Mobile Telesystems (MTS), a leading mobile network operator in Russia. They will work together to build internet data centers in Russia, cooperate in artificial intelligence-based video and voice solution technology, exchange media content, and secure intellectual property rights. Under a memorandum of understanding, KT will support the establishment and operation of data centers in Russia by utilizing i 2022-02-09
• 
  Task force launched to verify safety of blending hydrogen with natural gas through city gas network SEOUL -- A government-initiated task force was launched in South Korea to test the safety of mingling hydrogen with natural gas through a nationwide network of city gas pipes. The goal is to reduce greenhouse gas emissions by blending 20 percent of hydrogen into city gas by 2026. A pilot facility will be built in a base run by Korea Gas Corporation (KOGAS) in Pyeongtaek, about 60 kilometers (37 miles) south of Seoul, in the second quarter of 2022. From 2024, the demonstration will b 2022-02-08
• 
  Krafton sets first step into virtual modeling industry through hyperrealism-based character SEOUL -- South Korea's game developer Krafton made a foray into the virtual modeling industry by unveiling a demo video of a motion-capture-based virtual human using hyperrealism technology. The virtual human with extremely human-like physical features such as soft hair on the skin and natural facial expressions will be used in various sectors including esports and music entertainment. Targeting millennials and Gen Z who value unique lifestyles and pursue changes, virtual 2022-02-08
• 
  LG Electronics opens research center with VA to develop LED wall for virtual production SEOUL -- LG Electronics and VA Corporation, a virtual production company in South Korea, opened a joint research center to develop a light-emitting diode wall optimized for in-camera visual effects, an innovative technique that allows filmmakers to create multiple scenes and locations in the same studio in the most cost-effective environment. Green or blue screens utilize chroma key technology, a time-consuming process that layers images or video over a solid color screen in post-pr 2022-02-08
• 
  ​CJ Onstyle to invest $2.5mln into premium lifestyle brand shopping mall operator SEOUL -- The fashion and culture retailer wing of South Korean conglomerate CJ Group will invest three billion won ($2.5 million) in a domestic lifestyle brand shopping mall operator targeting MZ generations who favor premium lifestyle products including home accessories and fashion items. Lifestyle products, also known as design products, feature beautiful exterior as well as optimized user experiences. They are more expensive than ordinary products with the same features but pret 2022-02-08
• 
  KT to work with Savills Korea to establish submarine cable in Asia-Pacific region SEOUL -- Through collaboration with the South Korean branch of Savills, a global real estate services provider based in London, South Korea's top telecom company KT will build a 9,000 kilometer (5,592 miles)-long submarine fiber-optic cable network that will connect six Asia-Pacific region countries including South Korea, Japan and Singapore targeting rapidly growing demands for high-capacity data delivery infrastructure. Submarine cables are key facilities that enable communic 2022-02-07
• 
  Shell joins maritime SOFC development project with Doosan Fuel Cell and Hyundai shipbuilding group SEOUL -- Shell, a global energy and petrochemical group, teamed up with Doosan Fuel Cell and South Korea's Hyundai shipbuilding group to develop a solid oxide fuel cell system for commercial use by ships in 2025. For optimization, the tripartite consortium aims to test a 600-kilowatt system as an auxiliary power unit on actual trade routes for more than a year. Solid oxide fuel cells (SOFCs) use common gas such as hydrogen as the main source of fuel. It is considered to be the 2022-02-07
• 
  SK Telecom partners with U.S. eVtol company to bring air taxi service to S. Korea SEOUL -- SK Telecom, a leading mobile carrier in South Korea, tied up with Joby Aviation, a Californian venture-backed aerospace company that develops an electric vertical takeoff and landing aircraft (eVTOL), to cooperate in urban air mobility (UAM), which is an ecosystem covering personal air vehicles and infrastructure such as a new navigation system, take-off and landing fields and charging technologies. South Korea has formed UAM Team Korea, a public-private consultative bod 2022-02-07
• 
  Lotte Chemical builds new plant to produce high-purity solvents for battery electrolytes SEOUL -- Lotte Chemical, a major chemical company based in South Korea, will build a new plant to produce high-purity organic solvents, such as ethylene carbonate and dimethyl carbonate, which are used for lithium-ion battery electrolytes, as part of its 602 billion won ($502 million) investment to strengthen its eco-friendly and specialty material business. Lotte Chemical said the new plant for ethylene carbonate and dimethyl carbonate would be built at its production base in Daes 2022-02-07
• 
  Hyundai Electric acquires power converter maker to strengthen renewable energy capabilities SEOUL -- Hyundai Electric, an electrical equipment manufacturer and energy solution provider, will acquire a controlling stake in Plaspo, a domestic power conversion system manufacturer, in a deal aimed at strengthening technological competitiveness in its renewable energy business. Using Plaspo's expertise, Hyundai Electric will develop its own energy storage system (ESS), which is a container-sized large-capacity modular battery pack used in the renewable energy generation sec 2022-02-04
• 
  KT provides cloud computing service for metaverse-based education platform SEOUL -- South Korea's top telecom company KT and its information technology service wing KTDS have provided a cloud computing backup service to a domestic metaverse-based education platform. The telecom company integrated its artificial intelligence chatbot solution capable of answering customers' questions and complaints. A metaverse is an online virtual world where users can access using a computer, smartphone, or a virtual reality (VR) device. The virtual world can cr 2022-02-04
• 
  78 percent of millennials and Gen Z wish to try alternative meat for first time: survey SEOUL -- About four-fifths of millennials and Generation Z would like to try alternative meat products for the first time, an online survey of 1,000 consumers in their 20s and 30s showed. Alternative meat products, also known as vegan meat products, are normally made using plant ingredients such as beans and mushrooms or by cultivating animal cells. South Korea's vegan meat market has been growing to meet demands from the rapidly increasing vegan population. According to market 2022-02-03