Latest News

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  Hanwha Defense works with research body to apply all-solid-state batteries to electric propulsion ships SEOUL -- Hanwha Defense, a defense contractor affiliated with South Korea's Hanwha Group, teamed up with a government-supported research body to develop a high-power, high-safety battery system for ships and apply next-generation batteries such as all-solid-state batteries to electric propulsion ships. All-solid-state batteries are seen as a next-generation power source for electric vehicles as solid electrolytes are nonflammable and more stable. Hanwha Defense said it has s 2021-11-23
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  S. Korea to support 64 local city governments to build smart city infrastructure SEOUL -- Through a 256 billion won ($215 million) state project, South Korea's transport ministry will establish smart city platforms in 64 small and medium-sized cities by 2025. The government will cooperate with local residents to develop platforms and related services that match citizens' demands. A smart city is a city platform that interconnects city infrastructure including facilities and devices using mobile cable networks. A smart city platform uses artificial intel 2021-11-23
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  Samsung Engineering wins deal from Aramco to build Jafura gas treatment facility SEOUL -- Samsung Engineering, a construction and project management company in South Korea, has clinched a deal from Saudi Aramco to build a gas treatment facility in the package one development of the Jafura unconventional gas field in the Middle East country. Financial and other terms were not given. Samsung Engineering said in a regulatory filing on November 23 that the company has signed a contract on Jafura's gas processing package one project. The deal covers engineerin 2021-11-23
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  (INTERVIEW) Cryptolab aims to secure firm position in global homomorphic encryption market SEOUL -- As a pioneer in homomorphic encryption research, Cheon Jung-hee, a prominent mathematician and cryptographer in South Korea, has pushed for the early introduction of quantum-resistant cryptography technology, saying that if quantum computers are commercialized, existing encryption algorithms, which were difficult to solve even after decades, will be resolved within minutes. Binary digital electronic computers are based on transistors and capacitors with data encoded into 2021-11-23
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  Posco ICT to establish smart factory in Busan to improve work efficiency SEOUL -- Posco ICT, an IT and engineering wing of South Korea's top steelmaker Posco, will build a smart factory that can efficiently monitor and analyze factory operation data in the southern port city of Busan. Using the internet of things technology, the company will establish a system that can manage the entire production process including inventory and facility management. Smart factories can produce products through an automated system through internet of things (IoT), ar 2021-11-22
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  ​KT partners with state gas company to develop carbon-free cooling system for data centers SEOUL -- South Korea's top telecom company KT has partnered with a state gas company to develop a carbon-free cooling system that uses the cold energy from liquefied natural gas to cool internet data centers. The solution will help reduce operational costs as well as carbon emissions. An internet data center (IDC) filled with server computers needs a huge cooling system, with its room temperature kept at about 19 degrees Celsius (66.2 degrees Fahrenheit) using air conditioners. 2021-11-22
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  Construction of S. Korea's largest cold chain logistics center to begin in Songdo in 2022 SEOUL -- Construction of South Korea's largest cryogenic cold chain logistics center will begin in the first half of 2022 in Songdo, an international business district built on reclaimed land in the western port city of Incheon. Investors aim to nurture the center as an Asian cold chain hub targeting China and Southeast Asia. A consortium led by EMP Belstar, an operator of cold chain logistics based in New York, would invest some 521.8 billion won ($440 million) by 2024 to bu 2021-11-22
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  Fusion research tokamak sets new record of 30 seconds in super-hot plasma SEOUL -- KSTAR, a magnetic fusion device run by South Korean researchers to study aspects of magnetic fusion energy, broke its own record in a super-hot plasma field to maintain a plasma center ion temperature of 100 million degrees Celsius for 30 seconds. The previous record set in 2020 was 20 seconds. The state-run Korea Institute of Fusion Energy (KFE) attributed its achievement to the better stability of an internal transport barrier mode for the operation of a nuclear fusion 2021-11-22
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  Busan to develop convenient one-stop tourist pass for foreign visitors SEOUL -- In an effort to establish a convenient all-in-one tourist pass service for millions of foreign tourists who will visit the southern port Busan annually in the post-pandemic era, Busan City has embarked on a project to develop a tourist pass service that will allow foreigners to visit tourist spots and use public transport using a single plastic or digital app card. According to Busan Tourism Organization, about 2.7 million foreign tourists annually visited the port city 2021-11-22
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  Researchers develop GPS trackers for S. Korean soccer players SEOUL -- Researchers from a private research university has developed a reliable GPS tracker for soccer players in a state-sponsored project to replace expensive foreign products. It satisfied the governing body of football through a successful test in the training of South Korea's U-19 women's national team. The Korea Football Association (KFA) said the new GPS tracker called "ZEUS S20," developed by a research team from Pohang University of Science and Technolo 2021-11-22
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  7-Eleven starts autonomous robot delivery service in Seoul SEOUL -- The South Korean operator of 7-Eleven convenience stores has started the test operation of an autonomous delivery robot in southern Seoul. The robot uses cameras instead of a GPS system to navigate in urban environments even in hard weather conditions such as rain and snow. Various autonomous robots are being tested in South Korea with a food and grocery delivery market estimated to stand at 23 trillion won ($19.3 billion) to reduce labor costs. Some robots are able to com 2021-11-22
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  Busan port to produce electricity using pressure of running container trucks SEOUL -- In a government-sponsored project to generate electricity using the weight of container trucks, a piezoelectric power generation system will be developed and installed at the gate of a terminal port in Busan, the hub of South Korea's maritime transportation. Piezoelectric element modules will convert pressure and vibration generated by container trucks into electricity. Busan port operators and the Ministry of SMEs and Startups will jointly finance the development and 2021-11-19
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  CJ ENM unveils $775 mln deal to acquire Endeavor's content studio SEOUL -- South Korea's leading entertainment group CJ ENM which created the Oscar-winning film "Parasite," secured a global content distribution network through a $775 million deal to acquire the content studio of Endeavor Group Holdings, which have talent and literary agencies representing prominent artists and sports stars. Along with 80 percent of the scripted business of Endeavor Content Parent, CJ ENM would have management rights through its American subsidiar 2021-11-19
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  Dutch firm ASML concludes deal to create lithography cluster in S. Korea SEOUL -- As a supplier of crucial equipment for the production of high-performance microchips, ASML Holding, a Dutch manufacturer of chip-making equipment, signed a deal to create a lithography cluster in South Korea by investing 240 billion won ($202 million) by 2024. ASML has provided extreme ultraviolet and deep ultraviolet lithography systems to South Korean semiconductor companies. Silicon-based round disks called "wafers" are coated with a light-sensitive substance 2021-11-19
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  French startup Ynsect works with Lotte subsidiary to develop alternative protein sources with edible insects SEOUL -- French startup Ynsect partnered with a food research center of South Korea's retail giant Lotte to carry out joint research for the development of alternative protein sources with edible insects which are emerging as sustainable food with abundant nutrients including protein and minerals. Edible insect species generate less environmental pollution than breeding cows and pigs. They are processed in food products such as snacks and bakery products after being raised as li 2021-11-19
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  U.S. bluetech firm Oceanix to conduct feasibility study in Busan for floating city project SEOUL -- Oceanix, a bluetech company based in the United States, will conduct a feasibility study to see if the port city of Busan, a main maritime gateway in South Korea, is suitable for a United Nations project to build a pilot model for sustainable floating cities which have been presented as a solution to ensure climate resilience. As the world’s coastal cities are increasingly threatened by rising populations and sea levels, the UN is exploring a new approach to buildin 2021-11-19
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  ​Hyundai Transys teams up with domestic company to recycle discarded leather for car seats SEOUL -- To secure renewable leather technology for car seats, Hyundai Transys, a parts-making unit of South Korea's Hyundai auto group, has teamed up with E&R, a domestic company specialized in developing renewable leather. Hyundai Transys said in a statement on November 18 that the company signed a memorandum of understanding with E&R to reduce carbon emissions by recycling discarded and leftover leather generated during car seat production. Conventional recycled leath 2021-11-19
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  Hanwha Solutions to acquire 16.7% stake in Norway's REC Silicon SEOUL -- Hanwha Solutions, a renewable energy service provider affiliated with South Korea's Hanwha Group, will secure a stable supply of raw materials for solar panels in the United States by acquiring a 16.7 percent stake worth $160.5 million in REC Silicon ASA, a Norway-based company that produces polysilicon, a high purity, polycrystalline form of silicon used as a raw material by the solar photovoltaic and electronics industry. The date for stock acquisition is January 14 i 2021-11-18
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  Lotte Department Store to create metaverse commerce platform SEOUL -- The department store wing of South Korea's retail giant Lotte Group has partnered with a domestic artificial intelligence and digital twin technology developer to create the metaverse version of the department store's online commerce platform. Using the virtual world platform, customers can shop and try on different products as they would do in the real world. The metaverse allows users to engage in various activities without physical restrictions by offering virtu 2021-11-18
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  Hyundai Oilbank tests eco-friendly naphtha production using waste plastic pyrolysis oil SEOUL -- Hyundai Oilbank, a refining unit of South Korea's Hyundai shipbuilding group, will produce eco-friendly naphtha by injecting waste plastic pyrolysis oil into the process of refining crude oil. Naphtha is a flammable liquid hydrocarbon mixture produced from petroleum distillates, natural gas condensates and the distillation of coal and peat. Naphtha is used to dilute heavy crude oil, reduce its viscosity and facilitate transport. From November 18, Hyundai Oilbank injec 2021-11-18