Economy

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  Hyundai auto group demonstrates urban delivery service using electric trucks SEOUL -- Through a three-month demonstration, Hyundai auto group will make a foray into South Korea's urban delivery service industry using one-ton electric trucks. Fresh goods ordered at Hyundai Department Store, a major department store franchise, will be transported by trucks based on a cold chain logistics network. A cold chain is designed for the safe delivery of perishable products including meats, vegetables, and ready-to-eat meal packs. The delivery chain requires refrig 2021-07-19
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  Doosan Heavy joins hands with POSCO to develop ammonia gas turbine technology SEOUL -- Doosan Heavy Industries & Construction, a key player in South Korea's power industry, joined hands with POSCO to develop power generation technologies that break ammonia into hydrogen and nitrogen gas through a cracker and burn them to operate a gas turbine. POSCO and the Research Institute of Industrial Science & Technology (RIST) would develop an ammonia cracker. Doosan Heavy will develop a gas turbine and a combustor that burns decomposed hydrogen and nitroge 2021-07-19
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  Samsung shipyard's offshore wind turbine floater wins DNV's basic design certification SEOUL -- The basic design of an offshore wind turbine floater developed by Samsung Heavy Industries, a major shipbuilder in South Korea, has obtained certification from DNV, an international accredited registrar and classification society. The floater is a large structure supporting wind power generation facilities, which are similar in design to semi-submersible crude oil production facilities. Samsung Heavy Industries (SHI) said its model called "Tri-Star Floor" for a 9. 2021-07-19
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  Researchers discover efficient method to obtain high-quality graphene SEOUL -- Researchers have discovered an efficient method to obtain high-quality graphene sheets from mass-producible graphene oxide at relatively low temperatures. They hope the method will accelerate the commercialization of energy production and storage as well as transparent displays. It can be applied to the graphitization of various polymers. Graphene is a crystalline allotrope of carbon with two-dimensional properties. The single, thin layer of graphite is a transparent and fl 2021-07-16
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  Mesh-type open cast receives high patient satisfaction: survey SEOUL -- Patients wearing a new type of cast that is shaped like a fishnet have higher satisfaction than wearing an old-fashioned cast made of plaster or other composite materials including carbon fiber or metal, a survey showed. The new cast is light and waterproof. Casts are used to firmly hold the limbs or other body parts to minimize movements. Traditional casts use plaster or other hard materials to wrap body parts like a bandage. While wounds heal, the skin under the cast gets 2021-07-15
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  Travel and leisure platform Yanolja secures $1.7 bln from Softbank Vision Fund SEOUL -- Yanolja, a leading travel and leisure platform in South Korea, has secured a $1.7 billion investment from Softbank, a Tokyo-based holding group that runs Vision Fund, the world's largest technology fund, demonstrating its potential to lead the digital transformation of the global travel and hospitality industry. Yanolja said it has completed a $1.7 billion investment round by SoftBank Vision Fund 2 that would be used to invest in the development of innovative technolo 2021-07-15
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  [INTERVIEW] Catack-H shows confidence in technology to recycle carbon fiber reinforced polymer SEOUL -- Catack-H, a carbon fiber composite recycling start-up based in South Korea, showed confidence in its matchless technology, saying it would bulk up its production capacity with plenty of money from investors to become a leading player in global markets through a "quantum jump" in performance and revenue. The company's self-confidence is based on the prediction that strict environmental regulations would spur demands for environmental, social, and corporate gove 2021-07-15
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  S. Korea forms consultative group to promote development of green ammonia technology SEOUL -- South Korea has formed a consultative group to promote the development of green ammonia technologies. The group will research and develop the production, transport, extraction and utilization of green ammonia that does not emit any greenhouse gases during production. Because hydrogen has a very low volumetric energy density, transporting hydrogen in gas or liquid forms is not very efficient. Hydrogen is extremely flammable when it is mixed with very small amounts of air. Be 2021-07-15
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  S. Korea pushes for localization of technology on ultrapure water production SEOUL -- In an effort to reduce its dependence on foreign products especially from Japan, South Korea will push for the localization of technology on the production of ultrapure water, which is commonly used in the semiconductor industry. The Ministry of Environment tied up with K-Water, a state water resource development and management agency, and the state-funded Korea Environmental Industry & Technology Institute (KEITI) to develop technologies for the localization of ultrapu 2021-07-14
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  Retail giant Shinsegae to start overnight beauty product delivery service SEOUL -- The online shopping wing of South Korea's retail giant Shinsegae will start an overnight delivery service for beauty products. The quick-delivery service targets female consumers in their 30s. Customers can have their purchased items delivered to their doorsteps early in the morning if their online order was made before midnight. Various forms of overnight delivery services are popular in South Korea due to a coronavirus pandemic. SSG.com, Shinsegae's online shoppin 2021-07-14
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  Convenience store chain CU operates vending machine for alcoholic drinks SEOUL -- Through a regulatory sandbox that exempts regulations on new products or services for the quick development and demonstration of new technologies, South Korea's largest convenience store brand CU has started the operation of a vending machine for alcoholic drinks. Unmanned sales of alcoholic beverages could pave new roads for shop owners to introduce fully unmanned convenience stores. There are some 600 unmanned stores, but alcoholic drink sales are prohibited because t 2021-07-12
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  Kakao's mobility service wing collaborates with Hanjin to roll out parcel delivery service SEOUL -- Kakao Mobility, the mobility service wing of South Korea's web service company Kakao, has partnered with Hanjin, a major domestic logistics service operator, to roll out a parcel delivery service through an all-in-one mobility service app. Kakao T, an integrated mobility service app operated by Kakao Mobility, provides services such as taxi-hailing, car parking reservations, airplane ticket reservations, and long-distance bus ticket reservations. Kakao T is interlinked 2021-07-12
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  SK hynix starts mass production of new mobile microchip using EUV technology SEOUL -- SK hynix, the second-largest memory chip producer in South Korea, has started mass production of a new 8-gigabit microchip for mobile devices, using extreme ultraviolet light technology that would improve productivity and boost cost competitiveness. The new product would be delivered to smartphone manufacturers from the second half of 2021. SK hynix said the low power double data rate 4 (LPDDR4) mobile dynamic random-access memory (DRAM) chip is based on the 1anm, which is 2021-07-12
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  Hyundai shipyard completes construction of world's largest LPG carrier SEOUL -- A subsidiary of South Korea's Hyundai shipbuilding group has completed the construction of the world's largest liquefied petroleum gas carrier installed with a dual-fuel propulsion system. It is equipped with an LPG fuel tank that enables the operation of about 31,700 kilometers (19,700 miles). The vessel, ordered by China's Bank of Communications Finance Leasing, is 229.98 meters long, 36.6 meters wide and 23.6 meters high. The LPG cargo tank has a capacity o 2021-07-09
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  Canada's Next Hydrogen ties up with Hyundai to develop cost-efficient green hydrogen production solution SEOUL -- South Korea's Hyundai auto group tied up with Next Hydrogen, a Canadian company specializing in water electrolysis technology, to develop a cost-efficient solution for the production of green hydrogen by using an alkaline water electrolysis system. After a pilot test in 2022, the two sides agreed to explore potential technological applications and commercial arrangements. Green hydrogen is produced using water electrolysis powered by renewable energies. Water electrol 2021-07-09
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  Railway research body develops versatile black box for trains SEOUL -- A state-run research body has developed a versatile train black box, also known as a train event recorder, which is compatible with every type of train and train control system in service in South Korea. Conventional event recorders have limited compatibility. A train black box is designed to withstand the shock and heat caused by a train wreck. The box-shaped device records data about the operation of train controls, the performance of train parts, and the direction and sp 2021-07-08
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  Rio Tinto joins hands with POSCO for transition to low-carbon emission steel value chain SEOUL -- Rio Tinto, the world's second-largest metals and mining corporation, joined hands with South Korea's top steel group, POSCO, to explore, develop and demonstrate technologies for their transition to a low-carbon emission steel value chain. The Anglo-Australian group is a key supplier of iron ore to POSCO. The partnership will explore a range of technologies for decarbonization across the entire steel value chain from iron ore mining to steelmaking, POSCO said in a 2021-07-08
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  Samsung to chase out diesel vehicles at semiconductor facilities SEOUL -- Samsung Electronics will designate five of its semiconductor facilities as no-entry zones for diesel vehicles. Some 3,000 vehicles that regularly visit Samsung's premises for various purposes including the delivery of materials will be replaced with eco-friendly vehicles. In April 2020, Samsung revealed a plan to replace all of its internal combustion vehicles with eco-friendly vehicles by 2030. Cars for executives, delivery trucks and garbage vehicles will use electric 2021-07-07
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  KEPCO launches special vessel for quick installation of offshore wind power platforms SEOUL -- A specially designed vessel developed by South Korea's state power company for the quick installation of offshore wind power platforms was launched at the southwestern port city of Gunsan. It can lift and transport a heavy and high structure weighing up to 1,500 tons. An offshore wind power platform consists of a turbine on the upper deck and an underwater support structure. Korea Electric Power Corporation (KEPCO) said the two parts can be assembled in a port for trans 2021-07-07
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  Fraunhofer-Gesellschaft agrees to set up green hydrogen research center at S. Korean college SEOUL -- The Fraunhofer-Gesellschaft, a major applied research organization​ in Germany, will set up a joint research center with South Korea's new engineering college to carry out a study on green hydrogen energy which can be produced through electrolysis, a process of passing an electrical current through an electrolyzer to split water and release only hydrogen and oxygen. Korea Institute of Energy Technology (KENTECH), based in the southwestern city of Naju, said it has signe 2021-07-07