Economy

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  Researchers recover 98.3% of plastic by recycling waste coffee capsules SEOUL -- South Korean researchers have developed a method to recover 98.3 percent of plastic by recycling waste coffee capsules with low recycling rates. Recycled plastic can be applied to various products by efficiently removing aluminum. The waste coffee capsule consists of plastic accounts for 97.3 percent of the waste coffee capsule and aluminum 2.7 percent. The Korea Institute of Geoscience and Mineral Resources (KIGAM) said its research team shredded waste capsules and washe 2022-10-26
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  Doosan Enerbility strengthens partnership with German 3D printer company EOS SEOUL -- EOS, a German provider of metal 3D printers, will provide new technologies and cooperate in marketing with Doosan Enerbility, a power plant equipment manufacturer in South Korea, to strengthen their partnership that led to the development of a cobalt alloy 3D printing process used to repair old gas turbines. EOS will share user feedback and technical needs with Doosan Enerbility. "This cooperation with EOS has laid the foundation for the faster application of worl 2022-10-26
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  POSCO's thick plate wins DNV certification as wind turbine raw material SEOUL -- DNV, a classification society based in Norway, has certified South Korea's leading steel group, POSCO, as a company to produce thick steel plates that can reduce the use of steel for wind turbine towers and sub-substructure by about 10 percent. The steelmaker promotes its product as a cost-efficient material that can cope with rising raw material prices. DNV approved the thick plate plant of POSCO's steel mill in the southern industrial port city of Gwangyang as a s 2022-10-26
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  Lotte Chemical works with logistics company to recycle waste packaging vinyl SEOUL -- Lotte Chemical, a major chemical company based in South Korea, joined hands with Samsung Electronics Logitech, a corporate logistics management agency, to expand the virtuous cycle of packaging materials by recycling waste vinyl made of polyethylene, which is the most commonly produced plastic used for packaging. Lotte Chemical said it would collect waste vinyl used by Samsung Electronics Logitech for packaging to produce high-quality packaging materials and supply them ba 2022-10-26
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  Hanwha Systems works with research body to develop ultra-small synthetic-aperture radar satellites SEOUL -- Hanwha Systems, a key defense contractor involved in the development of antennas and other crucial equipment in South Korea, joined hands with a state-run technology institute to secure core technologies for the development of an ultra-small synthetic-aperture radar satellite that can transmit high-quality and high-resolution earth observation images. Synthetic-aperture radar (SAR) is a form of radar used to create two-dimensional images or three-dimensional reconstructions 2022-10-25
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  Cosmax works with domestic company to develop bioplastic containers with crosslinked cellulose SEOUL -- Cosmax, a cosmetics original development manufacturer in South Korea, will work with Around Blue, a domestic producer of eco-friendly materials for cosmetic containers, to develop bioplastic containers with cross-linked cellulose, a new polymer material produced using biomass raw materials, which are based on plants and agricultural crop residues. Absorbent cellulose is used to produce diapers, catamenial napkins, tampons, nursing pads, wound dressings and other incontine 2022-10-25
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  EWP and Jinenertech launch joint project to turn waste paprika culture medium into pellt SEOUL -- Jinenertech, an environmental tech company that converts sewage sludge into pellets, has launched a joint biomass project with a public power generation company in South Korea to turn waste paprika culture medium into pellets that would be used as fuel for power generation. Pellets are biofuels made from compressed organic matter or biomass. Wood pellets are the most common type of pellet fuel and are generally made from compacted sawdust and related industrial wastes. Ot 2022-10-25
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  Convenience store chain GS25 rolls out metaverse-based convenience store decorating game SEOUL -- The operator of South Korea's convenience store franchise GS25 has rolled out a simulation game where users can decorate their stores by carrying out missions of convenience store workers on Roblox, a metaverse platform mainly used by young people. The virtual platform was created to secure more young customers who consume various information through digital devices. Roblox is an online game platform where anyone can create games and enable other users to enjoy their 2022-10-24
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  Amorepacific partners with health startup to provide skincare products for good sleeping SEOUL -- South Korea's top beauty product maker Amorepacific partnered with Asleep, a domestic health startup specializing in artificial intelligence-based analysis solutions for breathing while asleep, to verify the performance of skincare products capable of helping users sleep properly. Using Asleep's personalized sleep diagnosis technology, Amorepacific hopes to secure scientific evidence for beauty products that enable good sleeping if they put them on before going to b 2022-10-21
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  Hyosung Heavy ties up with power company to develop distributed carbon-free generation system SEOUL -- Hyosung Heavy Industries, an electrical power equipment manufacturer in South Korea, tied up with a public power generation company to demonstrate and develop a distributed carbon-free generation system that combines the advantages of solar power, hydrogen power generation, energy storage systems, and water electrolysis facilities. Korea East-West Power Company (EWP) and Hyosung Heavy Industries would explore new markets with a development model by combining renewable en 2022-10-21
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  Daewoo shipyard applies smart ship platform to wind turbine installation vessels SEOUL -- Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, will apply its smart ship platform to two wind turbine installation vessels, which are under construction on order from Eneti, a Monaco-based company specializing in offshore wind farm construction and services. This is the first case of incorporating state-of-the-art eco-friendly and smart ship technologies into the marine plant field. A wind turbine installation vessel (WTIV) has specific 2022-10-21
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  LS Cable secure $167 million deal to supply cables for offshore windfarm near Norfolk SEOUL -- LS Cable & System, a major cable maker in South Korea, has secured a contract worth about 240 billion won ($167 million) to supply high-voltage direct current transmission cables for an offshore windfarm complex to be built by Vattenfall, a Swedish power company, near Norfolk in England. LS Cable said it would supply 320-kilovolt (kV) high-voltage direct current transmission (HVDC) submarine and underground cables to Vattenfall’s Norfolk zone, which is one of the 2022-10-20
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  GI Innovation's GI-101 designated by FDA as special drug for rare skin cancer SEOUL -- GI-101, an immunotherapy agent against a rare skin cancer called "merkel cell carcinoma (MCC)" was designated by the U.S. Food and Drug Administration (FDA) as an orphan drug, which is allowed to be used for extremely rare and incurable diseases with an annual prevalence of less than 100,000. The agent created by South Korea's bio-venture company GI Innovation will receive tax benefits and monopoly rights. MCC is an incurable disease that appears in Merkel ce 2022-10-20
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  SK innovation uses Spot and Guardian S intelligent robots for factory safety check SEOUL -- SK innovation, an intermediate holding company of SK Group, introduced two intelligent robots, Spot and Guardian S, which move like dogs and snakes, to check the safety of facilities at its main production complex that requires close safety management because of a complicated web of pipelines on 8.26 million square meters of land in the southeastern industrial port city of Ulsan. Spot is a four-legged robot developed by Boston Dynamics acquired by South Korea's Hyundai 2022-10-20
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  SK ecoplant jumps into ultrapure water business to reduce reliance on foreign companies SEOUL -- SK ecoplant, a major waste management company affiliated with South Korea's SK Group, jumped into the production of ultrapure water, which is in high demand in the semiconductor industry, through cooperation with a domestic company. The partnership will help reduce South Korea's reliance on Japanese and other foreign companies. SK ecoplant said it has signed a memorandum of understanding with HTS in the operation of ultrapure water facilities and business developme 2022-10-19
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  Hyundai E&C embarks on detailed design of standard SMR model for commercialization SEOUL -- In cooperation with its American partner, Holtec International, Hyundai Engineering & Construction, a major builder affiliated with South Korea's Hyundai auto group, has embarked on the detailed design of a standard model for the commercialization of a small modular reactor that allows for less on-site construction, increased containment efficiency, and enhanced safety. In November 2021, Hyundai E&C partnered with Holtec International, which specializes in the 2022-10-19
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  LG Chem invests $566 million to acquire U.S. biopharmaceutical company AVEO SEOUL -- LG Chem, a chemical unit of South Korea's LG Group, will acquire AVEO Pharmaceuticals, an American oncology-focused biopharmaceutical company, for $566 million. The deal is aimed at securing LG Chem's quick capabilities of commercializing anti-cancer drugs in the U.S. as well as a bridgehead to launch various self-developed new drugs in the world's largest pharmaceutical market. LG Chem said it would invest through a Boston-based life science subsidiary to est 2022-10-18
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  SK geo centric ties up with Hanjin to expand use of unidirectional sheet composite materials SEOUL -- SK geo centric, a chemical company affiliated with South Korea's SK Group, tied up with Hanjin, a domestic logistics company, to cooperate in expanding the use of lightweight composite materials made of unidirectional sheet, based on their three-month durability test with commercial vehicle top loading boxes. Unidirectional tapes are composite materials impregnated with a polymer matrix with all fibers running in the same direction. Unidirectional tapes are utilized mo 2022-10-18
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  Hyundai E&C uses hollow glass powder to develop high-strength concrete SEOUL -- Hyundai Engineering & Construction, a major builder affiliated with South Korea's Hyundai auto group, has developed high-strength concrete using hollow glass powder, which is a new spherical material in the form of fine powder. The company has verified the excellence and quality stability of high-strength concrete performance through field demonstration. High-strength concrete has a compressive strength of 40 megapascals (MPa) or more and usually increases viscosi 2022-10-18
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  CB&I joins Daewoo shipyard project to apply liquid hydrogen storage tanks to ships SEOUL -- CB&I, a U.S. designer and builder of storage facilities, tanks and terminals, joined hands with a major South Korean shipyard to apply liquid hydrogen storage tanks to large carriers. Liquid hydrogen, created by pressurizing hydrogen vapor, is stable for storage and transportation, has high density, and requires cooling equipment and cryogenic containers. Daewoo Shipbuilding & Marine Engineering (DSME) said that the partnership with CB&I would contribute to real 2022-10-17