Economy

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  Researchers imitate structural coloration of bird feathers to develop reflective display SEOUL -- South Korea's state research body has developed reflective display technology that imitates the structural coloration of bird feathers. Unlike conventional displays that use color filters or backlights, reflective displays reproduce colors by reflecting natural light. They can be used for developing low-power and high-color displays. The National Institute of Ecology (NIE) has teamed up with a Yonsei University research team to utilize biomimetics for 2021-01-26
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  Cosmetics maker Aekyung partners with Chinese counterpart Proya cosmetics SEOUL -- South Korea's hygiene and cosmetics product maker Aekyung has forged a partnership with China's Proya Cosmetics targeting offline customers. The two companies will jointly roll out marketing promotions to raise the brand value and consumer recognition in China. Aekyung said in a statement on January 26 that under a memorandum of understanding, Proya, a major cosmetics maker headquartered in Hangzhou, would provide a network of offline stores a 2021-01-26
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  Hyundai shipyard's virtual commission solution wins Lloyd's basic approval SEOUL -- A virtual commission solution developed by South Korea's Hyundai shipbuilding group has received basic approval from Lloyd's Register, a London-based technical and business services organization that provides maritime classification. Using digital twin technology, the solution verifies dual-fuel engines, fuel supply systems, and power control systems of natural gas carriers. Korea Shipbuilding & Offshore Engineering (KSOE), 2021-01-25
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  KHNP localizes new CIGS solar cells for building integrated photovoltaic system SEOUL -- Korea Hydro & Nuclear Power, the operator of nuclear power plants, has localized technology for copper indium gallium selenide solar cells that can be used to convert sunlight into electric power, as part of efforts to develop a building integrated photovoltaic system. A copper indium gallium selenide (CIGS) solar cell is manufactured by depositing a thin layer of copper, indium, gallium and selenium on glass or plastic backing, along with electrodes 2021-01-25
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  Exports of Korean chili paste up sharply thanks to growing popularity of K-drama SEOUL -- The growing popularity of K-dramas has boosted exports of Korean chili pepper paste called "Gochujang" in 2020. The red hot paste has been described as a key ingredient for tasty menus that appear in dramas and films. Gochujang is made of fermented blocks of beans, red chili pepper, salt, and sugar. The paste with distinctive spicy, salty, and sweet flavors is commonly used for making various types of sauces for soup and meat dishes. Tteokbokki, 2021-01-25
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  LA-bound Maersk containership loses some 750 containers overboard in Pacific SEOUL -- A containership operated by Maersk, a Danish integrated shipping company, has lost up to 750 containers overboard in the Pacific Ocean en route to the port of Los Angeles, according to WK Webster, a cargo casualty management firm. En route from Xiamen, China to Los Angeles, Maersk Essen, a Danish-flagged 13,100 twenty-foot equivalent unit (TEU) ship, spilled up to 750 container boxes into the Pacific Ocean during severe weather on January 16, WK Webster 2021-01-22
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  S. Korea finalizes official process of imposing 513% tariff on imported rice SEOUL -- South Korea finalized the official process of imposing a 513 percent tariff on imported rice. The rate has been verified by the United States and four other rice-exporting countries that allowed South Korea to maintain a five percent tariff rate on rice to be imported under obligatory quotas. A schedule of concessions and commitments was posted in the official gazette on January 22, completing procedures for tariffs on rice, the Ministry of Agriculture, Food a 2021-01-22
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  Verizon becomes first to deploy Samsung's fully virtualized 5G solutions SEOUL -- Verizon, an American telecom conglomerate, has become the first company to deploy Samsung Electronics' fully virtualized 5G solutions that would enable simpler, more flexible and more scalable network deployments and power the next generation of 5G networking capabilities. A radio access network (RAN) resides between a device such as a mobile phone, a computer, or any remotely controlled machine and provides connection with its core n 2021-01-22
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  S. Korea's medium-sized satellite ready for launch in March in Kazakhstan SEOUL -- South Korea will launch a new medium-sized satellite for precise ground observation in March at a space center in Kazakhstan aboard a Russian rocket. The 500-kilogram satellite has been developed in a five-year state program to establish a universal standard platform aimed at securing independent satellite development technologies. The satellite left the state-run Korea Aerospace Research Institute (KARI) in the central city of 2021-01-22
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  Daewoo shipyard's SOFC ship certified by American classification society SEOUL -- A crude carrier with a solid oxide fuel cell propulsion system developed by Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, has won certification from the American Bureau of Shipping, a maritime classification society. The solid oxide fuel cell (SOFC), an electrochemical conversion device that produces electricity directly from oxidizing fuel, has a wide variety of applications as 2021-01-21
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  State research institute transfers technology for development of amphibian air taxi SEOUL -- A state-run research body teamed up with Angelux, a marine leisure vehicle producer in South Korea, to develop and commercialize an amphibian air taxi using fiber-reinforced composite materials that can increase flying range and performance through lightening, high strength and flame resistance. The Korea Institute of Ceramic Engineering and Technology (KICET) will transfer technology and material manufacturing know-how for the development of air taxis th 2021-01-21
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  Naver and CU forge partnership to provide next-gen O2O services SEOUL -- South Korea's biggest web portal service operator Naver joined hands with BGF Retail, the operator of the domestic convenience franchise CU to create new services targeting both online and offline markets. They will create synergy using their expertise in online technologies and offline retail operations. Naver said in a statement that the two companies would cooperate in the demonstration of various experimental online-to-offline (O2O) service 2021-01-21
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  Hyundai shipyard lifts 9,100-ton topside of deep-water offshore plant SEOUL -- South Korea's Hyundai shipyard set a new domestic record by lifting and assembling the 9,100-ton topside of a deep-water, semi-submersible offshore plant that has been under construction on a 2018 order from Murphy Oil, a Houston-based oil and gas exploration company. Hyundai Heavy Industries (HHI) said on January 20 that it has successfully lifted a super-large marine facility at once to install it in the hull of the King’s Quay floating prod 2021-01-20
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  Daewoo shipyard jumps into development of offshore substations for wind farms SEOUL -- Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, will use its accumulated experience in the design and production of offshore oil plants to produce offshore substations for fixed and floating wind farms through cooperation with the power plant design and engineering wing of a state utility company. Daewoo Shipbuilding & Marine Engineering (DSME) said in a statement on January 20 that it has signed a memorandum of und 2021-01-20
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  Ulsan opens demonstration facility for hydrogen power generation SEOUL -- A facility to demonstrate hydrogen power generation opened in the southeastern industrial city of Ulsan. It used fuel cells developed by South Korea's Hyundai auto group which is pushing for a hydrogen business value chain to popularize fuel cell cars, heavy-duty trucks, construction equipment, trains and ships. The 1MW facility capable of supplying electricity to about 2,000 households is installed with proton-exchange membrane fuel cells (PEM 2021-01-20
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  Samsung Electro-Mechanics unveils super-slim multilayer ceramic capacitor SEOUL -- Samsung Electro-Mechanics, an electronic component maker in South Korea, unveiled a super-slim multilayer ceramic capacitor which is 18 percent thinner than previous products to increase the freedom of 5G smartphone design in response to the industry's growing demand for slim components and multi-functional and high-performance requirements. A multilayer ceramic capacitor (MLCC) works as a dam that temporarily charges and dischar 2021-01-20
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  Naver acquires Canada-based website and app for writers SEOUL -- Naver, a leading portal service operator in South Korea, took over Wattpad, a Canada-based website and app for writers to publish new user-generated stories, to strengthen and diversify its content service targetting the global market. Naver said in a regulatory filing on January 20 that it would acquire a 100 percent stake in Wattpad for 653.3 billion won ($594 million) to "diversify global content business and strengthen North American business 2021-01-20
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  EOFlow to raise new capital for development of wearable artificial pancreas and new businesses SEOUL -- EOFlow, a provider of wearable drug delivery solutions in South Korea, will issue convertible bonds worth 35 billion won ($31 million) to finance clinical trials, research and development on the wearable artificial pancreas as well as new businesses and the development of new wearable drug delivery solutions. With wearable artificial pancreas, EOFlow aims to build a total diabetes management solution in line with the rapidly growing digital healthcare 2021-01-19
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  En+ Group's metal business partners with Henan Mingtai to deliver low-carbon aluminium products SEOUL -- Rusal, the metal business of En+ Group, an Anglo-Russian energy and metals company, has forged its partnership with Henan Mingtai Aluminum, an aluminum processing company based in China, to deliver low-carbon aluminum products in response to the world's growing market demand. En+ Group said in a statement that Rusal's strategic supply of low-carbon primary aluminum under ALLOW brand would be delivered to Mingtai's plants, including a new rol 2021-01-19
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  Doosan Mobility's hydrogen drones to be used for safe voyage solutions SEOUL -- For the precise and real-time detection of illegal ships, Doosan Mobility Innovation, a drone solution provider in South Korea, partnered with a maritime ICT company to develop a safe voyage solution by using hydrogen fuel cell drones that can fly for more than two hours. Doosan Mobility Innovation (DMI) said in a statement on January 19 that it has signed a memorandum of understanding with Marineworks, which provides smart ship sol 2021-01-19