Economy
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SK Geocentric adopts blockchain platform to track and manage recycled plastic materials
SEOUL -- South Korea's plastic recycling technology company SK Geocentric has adopted a blockchain-based resource management platform in a bid to accurately track and manage recycled plastic materials. The platform will label batches of recycled plastic to verify the material, source, and end product in which the materials were used. The clear management of recycled plastic materials is very important because secondary plastic processing companies rely on information about wher
June 20, 2023 -
Hyundai opens EV charging infrastructure quality certification center
SEOUL -- In a bid to boost the overall quality of South Korea's electric vehicle charging infrastructure and related services, Hyundai motor group partnered with the Korea Testing Certification Institute, a private certification agency, to open a certification center for EV charging infrastructure. As of January 2023, there were 205,205 EV chargers across South Korea with some 390,000 registered EVs. Currently, more than 90 percent of installed chargers are slow chargers that t
June 19, 2023 -
7-Eleven kick-starts delivery robot demonstration to prepare for commercialization
SEOUL -- The South Korean branch of global convenience store franchise 7-Eleven will kick-start the company's third demonstration of autonomous delivery robots in a bid to accelerate commercialization. The company carried out its first demonstration of service robots in 2021. Various types of delivery robots have been commercialized in South Korea over the past five years but they are mainly designed for indoor operations. Robots would stand by at a charging port and move to a
June 19, 2023 -
Pet healthcare company Daewoong Pet to develop anti-muscle loss material for animals
SEOUL -- Daewoong Pet, the pet healthcare wing of South Korea's major pharmaceutical company Daewoong Pharmaceutical, will work with research institutes to develop a drug for pets with sarcopenia, a type of muscle loss that commonly happens among old animals. Data obtained during the anti-muscle loss material development process can also be used to treat human patients. According to data released by Daewoong Pet, sarcopenia, which deteriorates muscle function, can cause chronic
June 16, 2023 -
S. Korea forges partnership with France's L'Oreal Group to support beautytech startups
SEOUL -- South Korea's startup ministry has forged a cooperation agreement with France's personal care company L'Oreal Group to incubate South Korean beauty tech startups and small and medium-sized companies. Beauty tech refers to skin care technology that incorporates artificial intelligence-based devices and solutions that analyze and provide appropriate care accordingly to different skin types. According to Statista, a global market research firm, the global beauty t
June 16, 2023 -
Coupang's food sales in 1Q 2023 increase by 20% on-year: market data
SEOUL -- Coupang, the South Korean counterpart of Amazon, saw its food sales grow by more than 300 percent compared to the growth of other online and offline food sales. The secret behind Coupang's success in online food sales is the cooperation between the online shopping giant and food companies in which they take different roles so that they can focus on the things they do best. The online shopping giant garnered explosive popularity among working people, housewives, and par
June 16, 2023 -
LS Electric partners with state power company to commercialize superconducting fault current limiters
SEOUL -- LS Electric, a power solution provider affiliated with South Korea's LS Group, will commercialize superconducting current limiters that can minimize damage to power plants in case of unexpected accidents such as lightning strikes and short circuits. The power solution company aims to export devices that alleviate fault currents generated by electrical faults to Southeast Asian and European markets. Fault currents reduce the stable power supply and lifespan of power equ
June 15, 2023 -
Samsung SDI and GM to build joint battery factory in US
SEOUL -- South Korea's major battery maker Samsung SDI and American automotive company GM are building a joint battery factory in Indiana, the United States. The two companies established a joint venture in April 2023 to produce large-capacity high-performance batteries for electric vehicles. According to Governor Eric Holcomb of Indiana, Samsung SDI and GM will build a new $3 billion EV battery plant in Indiana, without disclosing the exact location. "Happy to announc
June 14, 2023 -
State-run trade promotion agency advises Saudi Arabia to build S. Korean-type smart city
SEOUL -- South Korea's trade and investment promotion organization KOTRA has promoted South Korean-type smart cities at an event held in Saudi Arabia participated by local government officials. The agency has advised Saudi Arabian attendees regarding the establishment of a smart city based on digital twin, a virtual clone of an infrastructure, and other smart platforms. A smart city is a city platform that interconnects city infrastructure including facilities and devices using
June 13, 2023 -
POSCO Holdings breaks ground for lithium hydroxide in southern province for first time in S. Korea
SEOUL -- For the first time in the domestic battery-manufacturing sector, South Korea's leading steelmaking group POSCO has broken the ground for a lithium downstream processing plant in South Jeolla Province. The plant due to be completed by 2025 will process lithium that is pre-processed at a lithium lake located in Argentina into materials for lithium-ion batteries that are commonly used for electric vehicles. Lithium production is divided into two processes known as the &qu
June 13, 2023
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Global tech firms to present smart manufacturing solutions at 'Smart Factory + Automation World' in Seoul
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Occult thriller film 'Exhuma' attracts more than 10 mln moviegoers in 35 days of release
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Education company Visang provides smart Korean language learning platform 'Klass' to Vietnamese universities
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LS Cable embarks on construction of plant for new copper foil material
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Seoul's bus labor union launches strike for first time in 12 years
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Turkish automotive association seeks partnership with S. Korean companies
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US political turmoil reflects our wider society – in 2024 and earlier elections
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S. Korean mobility solution company targets historical city as gateway to Viet Nam
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Avikus validates fuel-saving effect of self-sailing solution 'HiNAS Control'
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Life expectancy in South Korea decreases for first time since 2000