Latest News

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  No hurry in selling HMM to new company, not foreign company or private equity fund SEOUL -- HMM, a major shipping company controlled by creditors in South Korea, has seen brisk performances, heightening expectations about its normalization before being sold to a new private owner. However, policymakers took a cautious stance over its sale which emerged as a buzzword after Hanwha Group was picked as the potential owner of a major shipyard controlled by a state policy bank. "There is no need to sell HMM right now like Daewoo Shipbuilding & Marine Engineeri 2022-09-30
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  Hyundai Rotem's hydrogen tram requires four fuel cells and high-power lithium-ion batteries SEOUL -- A hydrogen tram being developed by Hyundai Rotem, a train-making subsidiary of South Korea's Hyundai auto group, will be equipped with four 95-kilowatt fuel cells, high-power lithium-ion batteries, six hydrogen tanks, and an integrated stack and cooling device. Construction costs are relatively low and external power supply infrastructure is not required. Hyundai Rotem gave an explanation of the technology and development status of hydrogen electric trams at a green 2022-09-30
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  Online fashion store Musinsa nests in Seoul's hottest fashion & trends district SEOUL -- South Korea's popular online apparel store Musinsa has moved its head office to a vibrant fashion district in eastern Seoul that has transformed its shape from a rusty industrial town full of leather and metal workshops operated by veteran craftsmen. The Seongsu area now attracts young fashion and trends enthusiasts. Musinsa is an online fashion mall startup unicorn established in 2003. The company first nested in Apgujeong in southern Seoul 10 years ago when the river 2022-09-30
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  SK siltron makes aggressive investments to gain upper hand in global competition SEOUL -- Undaunted by a global economic slowdown and inflationary pressure weighing down the demand for memory chips, SK siltron, a wafer company affiliated with South Korea's SK Group, is pushing ahead with an aggressive expansion of its production capacity. A wafer is a thin round slice of semiconductor material used for the fabrication of integrated circuits and other devices. Silicon wafers are available in a variety of diameters. The diameter of wafers has gradually incre 2022-09-30
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  Australia and Argentina cited as alternative key material suppliers for S. Korea SEOUL -- Australia is a supplier of important minerals used for electric vehicle batteries and other products in South Korea, but a non-profit trade organization in Seoul suggests that companies should step up efforts to diversify supply lines and avoid risks from their reliance on China. The Korea International Trade Association (KITA) said in a report that the proportion of lithium imports from China rose to 59 percent in 2021 from 47 percent a year ago. South Korea's reliance 2022-09-29
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  SK ecoplant ties up with China's CNGR to tap Europe's waste battery recycling market SEOUL -- SK ecoplant, an environmental and energy solution provider affiliated with South Korea's SK Group, tied up with CNGR Advanced Material, a Chinese producer of lithium battery cathode material precursors, to tap Europe's waste battery recycling market. Under a collaboration agreement, SK ecoplant and CNGR would join forces to recycle waste batteries and revitalize the supply of raw battery materials such as nickel and cobalt, establish a European base, and seek new 2022-09-29
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  Cummins partners with KHNP to cooperate in green hydrogen production and utilization SEOUL -- Cummins, a U.S. producer of engines and power generation products, established a strategic partnership with the operator of nuclear power plants in South Korea, to cooperate in the field of green hydrogen production and utilization. They will demonstrate and commercialize water electrolysis facilities that use electricity to decompose water into oxygen and hydrogen gas. Under a memorandum of understanding, Cummins and Korea Hydro & Nuclear Power (KHNP) will produce gre 2022-09-29
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  S. Korea's coastguard considers adopting non-lethal handgun with high accuracy in windy waters SEOUL -- To efficiently overpower smugglers and illegal Chinese fishermen without using excessive force, South Korea's coastguard is considering the adoption of a "smart" revolver capable of firing non-lethal bullets which are less affected by strong winds. It is more effective than tasers or gas guns, which are difficult to use at sea. The non-lethal handgun brand-named "STRV-9" was developed by SNT Motiv, a leading firearms manufacturer in South Korea. STRV 2022-09-29
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  Blockchain mainnet XPLA forges partnership with Swiss blockchain gaming company Xterio SEOUL -- XPLA, a blockchain mainnet built by South Korea's game development and publishing company Com2uS and partners, has forged a strategic partnership with Xterio, a blockchain gaming company based in Switzerland, to expand its Web 3.0 ecosystem. The partnership came after Xterio raised $40 million in a funding round led by investors including XPLA. Xterio, a cross-platform publisher and developer of high-quality mobile and web3 games, will release new Web3 games t 2022-09-29
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  Researchers recommend recycling of waste fishing nets into hybrid fiber-reinforced cementitious composites SEOUL -- As a solution to reduce marine pollution, South Korean researchers recommend the recycling of waste fishing nets and ropes collected from coastal waters and fish farms into hybrid fiber-reinforced cementitious composites that can be applied to marine and port concrete structures. About 50 percent of ocean waste in South Korea comes from fishing nets and plastic buoys. "Ghost nets," which are abandoned or lost fishnets made of nylon, damage fish stock and destro 2022-09-29
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  Lotte Chemical produces polycarbonate using pyrolysis oil-based naphtha SEOUL -- Lotte Chemical, a major chemical company based in South Korea, has produced polycarbonate, a high-value-added petrochemical product, by using pyrolysis oil-based naphtha made by recycling waste plastic. polycarbonates are strong, tough materials with many applications. They are easily worked, molded, and thermoformed. Pyrolysis is a chemical recycling process that can convert plastics into high-quality oil using extreme heat and pressure. Recycled oil is processed into m 2022-09-28
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  KT ties up with U.S. entertainment company AMC for joint content production SEOUL -- South Korea's top telecom company KT teamed up with AMC Networks, a U.S. cable channel known for its global hit drama "Walking Dead," to push for joint content production and exclusively provide a subscription video service through internet protocol TV. In the first step of cooperation, six AMC dramas including the latest version of "Walking Dead" and "Interview with the Vampire," a horror fiction series, will be serviced on KT's IPTV. 2022-09-28
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  Youl Chon clinches $1.04 billion windfall contract to supply key material to LGES-GM joint venture SEOUL -- Youl Chon, a medium-sized company in South Korea, has clinched a six-year windfall contract worth $1.04 billion to supply a key material for lithium-ion batteries to a joint venture between General Motors and its Korean partner, LG Energy Solution. It marked the first case of aluminum pouch film mass production in South Korea. Pouch film production has been dominated by Japanese companies. Youl Chon said in a regulatory filing on September 28 that it would ship aluminum pou 2022-09-28
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  POSCO works with domestic hydrogen producer to push for CCU-based blue hydrogen business SEOUL -- South Korea's steel group, POSCO, joined hands with Approtium, a domestic hydrogen producer, to jointly push for a blue hydrogen business based on carbon capture utilization and produce 40,000 tons of hydrogen annually. They will promote joint research on the overseas production of blue ammonia for use in South Korea. Blue hydrogen is produced by applying carbon capture and storage to reduce CO2 emissions. The steel group has tried to develop technologies for extracti 2022-09-28
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  SK Telecom uses AI to create optimized virtual power plants SEOUL -- Under a business agreement for technology development with domestic partners, SK Telecom, a leading mobile carrier in South Korea, will use artificial intelligence and new technologies to predict the amount of renewable energy generation and power demand scattered in each region and create optimized virtual power plants. A virtual power plant (VPP) harnesses scattered renewable energy power generation to a network for maximum efficiency using new technologies such as artifi 2022-09-28
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  Norway's Kongsberg partners with Hyundai Rotem develop to unmanned turrets and drone protection systems for next-generation tanks SEOUL -- Kongsberg Defence & Aerospace (KDA), a Norwegian supplier of defense and space-related systems and products, has established a strategic partnership with Hyundai Rotem, the producer of South Korea's main battle tank, K2 Black Panther, to develop unmanned turrets and drone protection systems to be installed in next-generation tanks and wheel-type armored vehicles. KDA products such as digital integrated systems would be applied to Hyundai Rotem's K2 tanks and K 2022-09-28
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  Konasol selected to produce neutron-absorbing aluminum composite material for spent nuclear fuel SEOUL -- Konasol, a manufacturer of titanium carbide alloy steels in South Korea, will produce materials for spent nuclear fuel transport and storage containers with technology transferred by a state research body that has manufactured a low-cost casting-based neutron-absorbing aluminum composite material plate of up to two meters. Using technology from the state-run Korea Institute of Materials Science (KIMS), Konasol will produce products stretching up to five meters. The develop 2022-09-28
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  Short-range autonomous robot delivery tested at multiple 7-Eleven stores SEOUL -- A short-range delivery service using multiple autonomous robots equipped with cameras and sensors will be tested at multiple outlets run by the South Korean operator of 7-Eleven convenience stores for three months in an affluent residential area in southern Seoul after an earlier test operation ended without any particular problems. The new operation is to begin on September 28 to test a service remotely controlled and monitored by a control center, with three robots used 2022-09-28
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  GS E&C partners with German chemical company BASF for standardized module project for carbon capture SEOUL -- South Korea's major builder GS Engineering and Construction partnered with BASF, a German chemical company, to carry out a standardized module project for carbon capture utilization and storage. BASF's carbon capture technology called "OASE®blue" will be used as a standardized module to capture carbon dioxide emitted from various sources such as fossil fuel power generation plants. Carbon capture utilization and storage (CCUS) captures waste carbon di 2022-09-27
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  [FOCUS] Hanwha's move to acquire Daewoo shipyard throws chairman's eldest son into spotlight SEOUL -- Hanwha Group's move to acquire Daewoo Shipbuilding & Marine Engineering, a major shipbuilder controlled by South Korea's state policy bank, threw in the spotlight the 38-year-old eldest son of group patriarch Kim Seung-youn who was credited with elevating the ranking of his business empire step-by-step through the acquisition of essential enterprises with great market potential. The eldest son has been trained as heir to the throne. Like other offsprings of Sout 2022-09-27