Economy

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  LG's gamining monitor using curved OLED display set to debut at IFA 2022 SEOUL -- At an industrial exhibition in Germany in early September, LG Electronics will unveil its new premium gaming monitor using a curved organic light-emitting diode display, which is designed for immersive gaming experiences and features serious gamers' demand. The new UltraGear OLED gaming monitor, 45GR95QE, with a 240Hz refresh rate will be showcased at IFA 2022 to be held in Berlin on September 2-6. It is LG's first display to combine a 45-inch screen size with 2022-08-26
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  Binance partners with provincial city to establish digital asset exchange SEOUL -- Binance, the world's largest cryptocurrency exchange, joined forces with South Korea's southern port city of Busan to build a digital asset exchange and carry out various blockchain-related projects in a demonstration zone. Binance will provide technical expertise and infrastructure while Busan will focus on administrative support. As of July 2022, a total of 395 cryptocurrencies were listed by Binance. In collaboration with South Korean entertainment powerhouses, 2022-08-26
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  Lotte works with U.S. startup Syzygy and Japan's Sumitomo for world's first joint demonstration of ammonia photolysis technology SEOUL -- For the world's first joint demonstration of ammonia photolysis technology, U.S. startup Syzygy Plasmonics joined hands with South Korea's Lotte Group and Japan's Sumitomo Corporation. They will demonstrate the technology for producing green hydrogen for gas turbine power generation and high-purity hydrogen for fuel cells and hydrogen charging stations. Ammonia is considered an important part of a sustainable hydrogen ecosystem. An ammonia photolysis facility 2022-08-25
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  Hanwha Solutions to commercialize eco-friendly cosmetics containers SEOUL -- Hanwha Solutions, a chemical and energy company affiliated with South Korea's Hanwha Group, joined a green campaign to commercialize eco-friendly cosmetics containers using waste plastic recycling materials, in cooperation with a beauty and cosmetics product maker. Hanwha Solutions joined hands with the holding company of Kolmar Korea and Yeon-U, a domestic cosmetics container maker, to push for the development, production, and distribution of eco-friendly cosmetics con 2022-08-25
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  Hanwha E&C uses gasfication technology to produce hydrogen and carbon monoxide SEOUL -- Hanwha E&C, a builder affiliated with South Korea's Hanwha Group, will produce high-value-added chemical raw materials such as hydrogen and carbon monoxide by using a gasification technology transferred by a state-run research body. Gasification converts organic or fossil-based carbonaceous materials in high temperatures, with a controlled amount of oxygen or steam into carbon monoxide, hydrogen, and carbon dioxide. The resulting gas mixture is called syngas or prod 2022-08-24
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  LG Uplus' entertainment tool app to provide five foreign language services SEOUL -- An entertainment tool app developed by South Korea’s mobile carrier LG Uplus will provide five foreign language services including English, Chinese, Japanese, Thai and Indonesian, to meet growing demands for K-pop content overseas. The app that has provided some 35,000 K-pop idol-related content was effectively used to broadcast online performances in real-time amid COVID-19. LG Uplus (LGU+) released a K-pop performance broadcasting platform tentatively named "U 2022-08-24
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  Lotte Chemical launchs pilot production of chemically recycled polyethylene terephthalate SEOUL -- Lotte Chemical, a major chemical company based in South Korea, has launched the pilot production of chemically recycled polyethylene terephthalate (PET) as part of efforts to covert its PET production plant into an outpost for chemical recycling that breaks down and returns plastic to its pure, raw material form. It is an attractive way to address the explosive growth of plastic waste and disposal problems. polyethylene terephthalate (PET) is the most common thermoplastic p 2022-08-23
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  LG Innotek's thermoelectric material wins state green certification SEOUL -- A thermoelectric material developed by LG Innotek, the electrical component wing of South Korea's LG Group, won government approval as green technology. The material mainly used for industrial power generation such as ships is capable of saving 892 tons of fuel per ship every year. Because nano-polycrystalline materials are 2.5 times stronger than single crystal materials, they can replace conventional vehicle materials that are easily broken by vibration. When thermoe 2022-08-23
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  SK Geo Centric and SABIC make new investment to boost polyolefin elastomer production SEOUL -- A joint venture between SK Geo Centric, a chemical company in South Korea, and SABIC, a Saudi chemical manufacturing company, will boost the production of polyolefin elastomer through additional investments to preemptively respond to a surge in demand for high-value eco-friendly materials in finished cars and solar power. SK Geo Centric (SKGC) said that the joint venture named "SABIC SK Nexlene Company (SSNC)" would invest some 200 billion won ($149 million) to bu 2022-08-23
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  S. Korea launches project to establish demonstration base for materials used in extreme environment SEOUL -- In a bid to secure technology sovereignty and reduce a technology gap with leading countries, South Korea embarked on a costly national project to establish a one-stop demonstration and research base for the development of materials and manufacturing techniques for use in extreme and harsh environments. The six-year project that requires the injection of 309.6 billion won ($231 million) from 2023 is aimed at securing original core technologies by creating a foundation for e 2022-08-22
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  ​Atomy makes $10 mln donation to Compassion Korea to help children suffering from earthquake and war SEOUL -- South Korea's direct selling company Atomy has become a strong supporter of children around the world by donating a total of 14 billion won ($10.46 million) to Compassion Korea, the South Korean branch of international non-profit organization Compassion. A total of 30 billion won has been donated to the non-profit organization since 2021. The donation will be used for children in Thailand, the Philippines, Colombia, Brazil, Indonesia and Mexico where Atomy has already 2022-08-22
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  SK ecoplant ties up with China's GDS to pioneer fuel cell data center market in Southeast Asia SEOUL -- SK ecoplant, an environmental and energy solution provider affiliated with South Korea's SK Group, joined hands with China's top data center provider GDS to pioneer a market for the establishment of data centers applied with an eco-friendly power supply solution based on fuel cells in Southeast Asia. Under a collaboration agreement, SK ecoplant said it would provide eco-friendly power supply solutions including the supply of fuel cells and engineering, procurement 2022-08-22
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  Cosmax develop bio-nano emulsion capable of making pure natural cosmetics SEOUL -- Cosmax, a cosmetics original development manufacturer in South Korea, has developed a bio-nano emulsion that can make pure natural cosmetics, using a new microorganism found in the skin of young women instead of chemical surfactants. It would open the era of cosmetics manufacturing only with natural processes and ingredients. Emulsifiers are an indispensable ingredient in cosmetics production. Surfactants are mainly used in chemical emulsifiers that make emulsions in whi 2022-08-22
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  KEPCO partners with LS Electric to develop remote monitoring service for power facilities SEOUL -- South Korea's state power company will develop a remote monitoring technology that predicts the risk of home appliance overload by analyzing data collected from power facilities. Power usage has significantly increased due to weather anomalies and the adoption of new appliances such as dryers, dishwashers and air cleaners. According to data cited by Korea Electric Power Corp. (KEPCO), the number of home appliance items increased from 15 in 2000 to 22 in 2021. More hig 2022-08-19
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  UNIST team works out ethanol-based solution for dense and uniform perovskite thin film SEOUL -- Toxic solvents were seen as an obstacle to the commercialization and mass production of next-generation perovskite solar cells that enable ultrathin films to absorb the complete visible solar spectrum, leading to the creation of low-cost, efficient, thin and flexible modules. A perovskite solar cell includes a perovskite structured compound as the light-harvesting active layer. The use of non-toxic or less-toxic solvents is essential, but halide perovskites are generally n 2022-08-19
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  SK E&S works with electricity supplier to use green hydrogen and ammonia produced for mixed combustion SEOUL -- SK E&S, an energy company affiliated with South Korea's SK Group, joined hands with a domestic public electricity supplier, to use green hydrogen and ammonia produced at home and abroad for mixed combustion to generate electricity. Ammonia is seen as an ideal resource to establish an eco-friendly hydrogen fuel cell-based infrastructure. Green hydrogen can be produced through electrolysis to split water and release only hydrogen and oxygen. Korea South-East Powe 2022-08-18
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  SK ecoplant works on wastewater treatment with electrochemical oxidation SEOUL -- SK ecoplant, a major waste management company affiliated with South Korea's SK Group, tied up with a domestic wastewater treatment company to demonstrate and commercialize electrochemical oxidation facilities using boron-doped diamond electrodes for the treatment of high-concentration wastewater that is difficult to decompose with microorganisms. Electrochemical wastewater treatment has been in the spotlight for a long time due to its excellent pollutant removal effic 2022-08-18
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  SK Group acquires management rights of U.S. circuit breaker company Atom Power SEOUL -- South Korea's SK Group acquired management rights of Atom Power, a U.S. developer of solid-state digital circuit breakers, in a $150 million deal to promote an energy solution business and electric vehicle mobility services at home and abroad. The deal involving SK Inc., an investment-oriented holding company, and SK energy was signed in Seoul on August 18. Atom Power's solid-state breaker concept replaces traditional moving parts of an electromechanical circuit 2022-08-18
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  CJ Cheiljedang's U.S. subsidies integrated into unified entity to promote 'K-food' SEOUL -- CJ Cheiljedang, a key subsidiary of South Korea's food and entertainment conglomerate CJ Group, will integrate two U.S. subsidies including Schwan's Company, a major food processing company, into a unified entity as part of efforts to become a top ready-to-eat Asian food provider in the American market. In early 2019, Cheiljedang, the world's largest producer of an amino acid used as additives for animal feed and food additives, acquired Schwan's for $1.85 b 2022-08-17
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  Kolon recreates used disposable face masks into clothes hangers SEOUL -- In a bid to reduce carbon emissions and microbeads, South Korea's Kolon Group has launched an in-house campaign to recycle disposable face masks into cloth hangers. The campaign began in October 2021, encouraging employees to separate disposable masks from straps and other unnecessary parts for recycling. Used face masks were collected at group business sites and recycled into polypropylene (PP) pellets to produce 29,000 hangers at Kolon FnC, a fashion and lifestyle wi 2022-08-17