Economy

• 
  [CES 2022] Hankook Tire unveils 'i-Flex' airless concept tire optimized for autonomous driving LAS VEGAS -- At CES 2022 in Las Vegas, Hankook Tire & Technology, a top tire maker in South Korea, will showcase "i-Flex," an airless concept tire that is optimized for autonomous driving mobility as it requires no air pressure maintenance. The tire's "multi-layer interlocking spoke" design is based on the three-dimensional cellular structure of living organisms and absorbs shocks from the road. Hankook Tire's i-Flex is a non-pneumatic concept tire th 2022-01-05
• 
  Fresheasy signs M&A deals to secure top position in S. Korean meal kit market SEOUL -- Freasheasy has acquired a chicken-based simple meal package maker and a cold chain logistics service operator to solidify its position in South Korea's rapidly growing market for meal kits, also known as home meal replacement products, which are ready-to-eat meal packages that require minimum cooking processes. Freasheasy signed a mergers and acquisition (M&A) deal with Heodak and Line Logistics System. Heodak is popular among young fitness enthusiasts for its chick 2022-01-05
• 
  [CES 2022] Samsung unveils quantum dot OLED panels, shows confidence in competition LAS VEGAS -- As a key player in premium TV markets, Samsung belatedly joined a colony of organic light-emitting diode (OLED) panel makers by showcasing QD Display using its trademark quantum dot technology. It is basically based on OLED, but the company bragged about better image quality characteristics than OLEDs. In a selected media event on the eve of CES 2022 in Las Vegas, Samsung Display unveiled its QD Display lineup, including 65-inch and 55-inch panels for TVs and 34-inch g 2022-01-05
• 
  Samsung works with Patagonia to reduce release of microplastics into ocean SEOUL -- Samsung Electronics works with Patagonia, an American clothing company that markets and sells outdoor clothing, on a feasible, effective and expandable way to capture microplastics released from textiles and laundry. The goal is to design a sophisticated new washing machine that can minimize the impact of microplastics. Microplastic waste has become a serious environmental issue that can have devastating effects on ecosystems and human health. Scientists estimate that the 2022-01-05
• 
  [CES 2022] LG and Samsung to attract consumers with new TV lineups LAS VEGAS -- The world's top electronics makers Samsung Electronics and LG Electronics will clash head to head at the Consumer Electronics Show 2022 to be held in Las Vegas by showcasing their latest TV models with diversified form factors. According to industry officials on January 4, LG Electronics released its business strategy for self-luminous TV businesses and unveiled a new organic light-emitting diode (OLED) TV lineup through a press conference in South Korea. The new m 2022-01-05
• 
  [CES 2022] LG's new 'Omnipod' self-driving concept breaks boundaries between home and car SEOUL -- As part of its strategy to preemptively respond to various needs of automakers, LG Electronics unveiled a self-driving concept cabin called "Omnipod" that showed how cars can evolve into new living spaces. The major motive for LG's new mobility concept solution is "an autonomous home on wheels" that breaks boundaries between home and car. Omnipod is designed to offer a more personalized and sustainable experience with in-vehicle аppliаnces, virtual h 2022-01-05
• 
  Convenience store franchise CU rolls out short-term digital appliance rental service SEOUL -- South Korea's largest convenience store chain CU has rolled out a short-term rental service for some 300 products including tablet PCs, hairdryers, camping equipment and golf clubs. The rental service targets a niche market to attract early adopters and consumers who wish to get a hands-on experience of products at an affordable price before making an actual purchase. According to the Korea Convenience Store Industry Association, South Korea had some 50,000 convenience 2022-01-05
• 
  Healthcare consortium to offer DNA-based health prediction service through metaverse platform SEOUL -- A consortium led by Eone Diagnomics Genome Center, a South Korea-based healthcare company engaged in genetic analysis, will provide a DNA-based health prediction service in a metaverse platform to help business partners create new business models based on genomic big data. A beta service involving consortium partners is underway, with an official service to be launched as early as this year. The project aims to move the real world step by step into the virtual world like a 2022-01-04
• 
  Hanwha Aerospace selected to lead national task for developing UAM fuel cell system SEOUL -- Hanwha Aerospace, an aircraft parts maker in South Korea, has been selected to lead a national task for the development of a hydrogen fuel cell system that would be used for urban air mobility. The company aims to secure core technologies by improving performance and reducing system weight by 2025 by forming a consortium with domestic companies and research institutes. Hanwha Aerospace said that it has been selected by the state-run Korea Institute of Energy Technology Eval 2022-01-03
• 
  [CES 2022] Samsung unveils MICRO LED and Neo QLED with advanced picture quality and personalization options LAS VEGAS -- Samsung Electronics unveiled its newest MICRO LED and Neo QLED to be showcased at CES 2022, an annual trade fair in Las Vegas. With advancements in picture and sound quality, more screen size options, customizable accessories and an upgraded interface, the company said the new screens provide life-like images, immersive sound and hyper-personalized experiences. Micro LED uses micrometer-sized LED lights to eliminate the backlight and color filters utilized in conventi 2022-01-03
• 
  [CES 2022] Lotte Data Communication to unveil realistic metaverse platform for home appliance store and movie theater SEOUL -- At CES 2022, an annual trade show to be held in Las Vegas, Lotte Data Communication, an IT service management company based in South Korea, will showcase a metaverse platform that allows users to have realistic experiences. The platform has been developed by Lotte Data Communication's subsidiary, Caliverse, which produces virtual reality content that enables two-way communication with users. Based on deep interactive technology that responds to touch, gaze, and voice, 2022-01-03
• 
  Dongwon F&B partners with domestic pet product maker to develop moist food packs for pets SEOUL -- Dongwon F&B has partnered with Bmsmile, an operator of a domestic pet product brand, to develop functional moist pet food packed in sealed pouches and cans and expand their presence in South Korea's rapidly-growing pet product market that is projected to stand at six trillion won ($5 billion) in 2027. The growth of South Korea's pet market gained speed in 2020 when the first wave of a coronavirus pandemic hit the country, sending many people to spend more time 2022-01-03
• 
  Mobile EV charging services receive green light for demonstration SEOUL -- The demonstration of mobile charging services for electric vehicles received government approval. The service that utilizes energy storage systems on wheels as mobile chargers can become useful for the emergency charging of electric vehicles with flat batteries or for providing charging systems at residential areas with no charging infrastructure. Currently, South Korea regulates energy storage systems (ESSs) to be stationary facilities for easy safety maintenance and mo 2021-12-30
• 
  LG Electronics allowed to develop eco-friendly liquid CO2 washer SEOUL -- LG Electronics, a major home appliance maker in South Korea, won government approval to test an eco-friendly washing machine using liquid carbon dioxide as a cleaning solvent. The method can reduce the environmental impact of traditional washing machines or dry-cleaning processes, save energy and water, and extend garment life. LG Electronics was allowed to test a liquid CO2 washing machine through a regulatory sandbox policy that exempts regulations on new products or ser 2021-12-30
• 
  Hyundai Wia unveils metaverse-based showroom targeting global B2B market SEOUL -- Hyundai Wia, a parts-making unit of South Korea's Hyundai auto group, opened a metaverse-based showroom targeting global automotive industry officials who are unable to travel to South Korea for business meetings because of a coronavirus pandemic. Hyundai Wia employees will guide visitors through the digital showroom that displays virtual replicas of auto parts and machine tools. The metaverse is a simulated virtual world platform where users can engage in various acti 2021-12-30
• 
  DL E&C clinches $1.3 bln order to participate in Russia's Ust-Luga gas and chemicals complex SEOUL -- DL E&C has clinched a deal worth 1.17 billion euros ($1.3 billion) to participate in the construction of a polymer plant in a major gas and chemicals complex at Ust-Luga in northwestern Russia. The South Korean builder is in charge of design and equipment procurement. DL E&C said on December 30 that the company signed a contract for Russia's Baltic Chemical Complex (BCC. The South Korean company received an order from China National Chemical Engineering No. 7 2021-12-30
• 
  LG Display releases new OLED panel with improved screen brightness SEOUL -- In a bid to secure a firm competitive advantage in organic light-emitting diode (OLED) markets, LG Display, a major flat panel maker known for rollable displays, released a new innovative product that improved screen brightness by 30 percent by applying heavy hydrogen and personalization algorithms for the first time in the industry. Production of the new panel called "OLED.EX" is to begin in 2022. LG Display unveiled a prototype of a 65-inch TV applied with an OL 2021-12-29
• 
  LG Electronics expands unmanned stores to cope with growing demands for contactless shopping SEOUL -- LG Electronics will expand sales through unmanned stores to cope with growing demands for contactless shopping amid a COVID-19 pandemic. Unmanned stores run from 8:30 p.m. (1130 GMT) to midnight so that customers can experience products freely after authenticating themselves at the entrance, check product information at kiosks, and purchase products using QR codes or a mobile app From December 29, LG Electronics said the number of unmanned stores will increase from nine t 2021-12-29
• 
  SK Geo Centric ties up with Japan's Tokuyama to produce high-purity isopropyl alcohol SEOUL -- SK Geo Centric, a chemical company affiliated with South Korea's SK Group, tied up with Japanese chemical company Tokuyama to set up a joint venture for the production of high-purity isopropyl alcohol which is used as a solvent with strong evaporative properties. The chemical compound is also used for wafer cleaning and as a cleaning agent for manufacturing liquid crystal displays. The two companies will invest a total of 120 billion won ($101 million) to build a joint 2021-12-29
• 
  Lotte's online shopping mall to start instant delivery service for raw fish menu SEOUL -- South Korean conglomerate Lotte Group's megastore wing and its online shopping mall have added "Hoe," a Korean-style raw fish menu and sushi to its instant delivery service. Starting on December 30, consumers can use the combined instant delivery service of groceries and raw fish menus within two hours. Government data showed that about 63.8 percent of raw fish menus were consumed at home through delivery service or take away in South Korea due to the sprea 2021-12-29