Latest News

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  KT to provide Seoul real-time on-foot traffic analytics system for civil services SEOUL -- South Korea's top telecom company KT will provide a big data-based real-time on-foot traffic analytics system to Seoul. The capital city will use data on the moving population to upgrade civil and administrative services in various areas such as public transport, disaster control, disease quarantine, and policy making. The analysis of moving traffic, especially the collection of data about people walking through a specific area, is an important aspect of city managemen 2022-09-02
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  DL E&C ties up with KT for advanced digital twin and metaverse ecosystem in construction SEOUL -- DL E&C tied up with South Korea's top telecom company KT to develop an advanced digital twin based on a streaming solution for cloud game services and establish a metaverse ecosystem. Metaverse solutions can be applied in various construction fields such as design, construction, and quality management. A digital twin is a virtual clone of an object or an infrastructure. Digital twins are frequently used as testing grounds for new technologies or other elements to 2022-09-02
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  S. Korean hip-hop garners explosive popularity on Spotify SEOUL -- South Korean hip-hop songs have garnered explosive popularity on Spotify, the world's most popular music streaming service, during a 12-month period between August 2021 and July 2022. A playlist comprised of South Korean hip-hop songs was streamed more than 20 million times. The number of song streams increased by 56 percent from five years ago. "K-Hip-Hop +82," which has just changed its name to "KrOWN," was mostly favored by Americans, followed b 2022-09-01
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  POSCO ties up with Indian firm Greenko for green hydrogen and ammonia production SEOUL -- POSCO partnered with Greenko, a renewable energy company in India, to push for the establishment of a business model for the production of green hydrogen and ammonia. India has abundant solar and wind resources. The steel group has tried to develop technologies for extracting large amounts of hydrogen from ammonia and supplying green hydrogen to power stations and industrial facilities. Green hydrogen does not use any fossil fuel during its manufacturing process. Ammonia is 2022-09-01
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  Amore Pacific agrees to acquire U.S. luxury skincare brand Tata Harper for $125 million SEOUL -- South Korea's top beauty product maker Amore Pacific agreed to acquire Tata Harper, an American luxury skincare brand, for $125 million as part of efforts to accelerate its presence in the U.S. market and elsewhere. Tata Harper creates luxurious and sustainable products that are 100 percent natural. In a regulatory filing on September 1, Amore Pacific said its U.S. subsidiary, Amorepacific US Investment, would acquire 100 percent of Tata's Natural Alchemy, the ope 2022-09-01
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  SK ecoplant becomes largest shareholder of U.S. waste battery recycling company Ascend Elements SEOUL -- SK ecoplant, an environmental and energy solution provider affiliated with South Korea's SK Group, has strengthened its presence in the recycling of discarded electrical or electronic devices such as waste electric vehicle batteries by becoming the largest shareholder of Ascend Elements, an innovative U.S. waste battery recycling company. SK ecoplant said it has signed a stock purchase agreement of $50 million with Ascend Elements, which has efficient technologies to 2022-09-01
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  Fuel cell forklifts introduced to establish S. Korea's first hydrogen logistics center SEOUL -- Hydrogen fuel cell forklifts will be introduced for the establishment of South Korea's first eco-friendly hydrogen logistics center in a pilot project involving an asset management company, a logistics company, and a joint venture between SK E&S and Plug Power, an American provider of hydrogen fuel cell turnkey solutions. SK E&S, an energy company affiliated with South Korea's SK Group, said that SK Plug Hyverse, a joint venture with Plug Power, has signe 2022-09-01
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  Zepeto operator partners with Thai telecom company to nurture Thai creators in metaverse SEOUL -- The operator of Zepeto, a metaverse platform created by South Korea's web service giant Naver, joined hands with True, a top telecom company in Thailand, to nurture Thai creators and upgrade a metaverse ecosystem in the Southeast Asian country. In Thailand, there are more than 500,000 Zepeto creators who often use the metaverse platform to consume K-pop content. Anyone can engage in various social and economic activities using their own avatars on Zepeto. The metaverse 2022-09-01
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  Daewoo shipyard selected for state project to commercialize fuel cell tugboat by 2026 SEOUL -- Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, has been selected for a state project to develop and commercialize an eco-friendly tugboat based on a hydrogen fuel cell engine by 2026 In response to tightened international regulations on green gas emissions generated by ships. Daewoo Shipbuilding & Marine Engineering (DSME) said that the fuel cell tugboat project being pushed by the Ministry of Oceans and Fisheries would cost about 23 2022-09-01
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  GS E&C works with Finland's St1 to produce bioethanol using waste cassava pulp in Thailand SEOUL -- GS Engineering & Construction, a major builder in South Korea, has tied up with St1, a Finnish renewable energy company, to develop bioethanol using waste cassava pulp in Thailand. Cassava pulp is proposed as a potentially promising, sustainably renewable and low-cost substrate for ethanol production. GS E&C said that a memorandum of understanding for technology development cooperation has been signed in Bangkok with St1, s a subsidiary of Finnish energy company St1 2022-09-01
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  [SUMMARY] Daily News Selection by Aju Business Daily on August 31, 2022 The following stories are the daily summary of news in South Korea on August 31, 2022. SEOUL -- Special exhibition of disabled artists' works held at presidential office SEOUL-- As the first event under a government plan to repurpose the building as an art center, a special exhibition of works by disabled artists opened inside the former presidential compound of South Korea’s presidential office on August 31 with a ceremony. The private Federation of Disability Culture 2022-08-31
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  Number of foreign tourists to S. Korea in July surpasses 263,000, up 218% on-year SEOUL -- The number of foreign tourists in South Korea soared 218 percent on-year in July 2022 thanks to the eased quarantine regulations. South Korea lifted quarantine measures for all foreign tourists who tested negative for COVID-19 at the airport regardless of vaccination status in June 2022. According to data released by the Korea Tourism Organization on August 31, the number of foreign tourists in July reached 263,986, up 218 percent from 83,000 in July 2021. American tourist 2022-08-31
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  S. Korea's megastore Emart adopts instant wine pickup service through mobile app SEOUL -- An instant wine pickup system that enables consumers to pick up a wine bottle within a day was released by Emart, the retail conglomerate Shinsagae's megastore wing with some 130 stores in South Korea. Wine lovers can pick up their orders at any Emart store. Through collected purchase data, the smart service also provides recommendations of wines depending on personal tastes. The number of wine lovers who prefer to drink alone at home increased amid a coronavirus pan 2022-08-31
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  KT to accelerate digital transformation of popular fried chicken brand using AI SEOUL -- In an effort to accelerate the digital transformation of BBQ, a popular South Korean fried chicken franchise, the country's top telecom operator KT will use artificial intelligence technologies and link the two companies' services through a smart voice assistant platform. Korean-style fried chicken is the favorite soul food of South Koreans. According to a 2014 survey of 1,000 people, 77.7 percent picked deep-fried chicken pieces smothered in a red, sweet, and hot 2022-08-31
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  LG Uplus partners with popular fast food franchise to provide IT infrastructure SEOUL -- To help store operators monitor their shops in real-time and protect the personal information of customers, LG Uplus, a major mobile carrier in South Korea, has partnered with Mom's Touch, a popular fried chicken burger franchise. The mobile carrier will help the fast food franchise set up information technology infrastructure and upgrade stores' security systems. Mom's Touch was launched in 2004 to tap South Korea's fast food market dominated by foreign br 2022-08-31
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  Rookie K-pop girl band IVE sells nearly 1 million copies of third single 'After LIKE' in 8 days SEOUL -- IVE, a girl group under K-pop band MONSTA X's agency Starship Entertainment, has sold nearly 1 million copies of its third single "After LIKE" just eight days after its release. The six-member band only sold 152,000 copies of its debut album "ELEVEN" in the first week of its release in December 2021 and 338,000 copies of its second single "LOVE DIVE" in April 2022. The new single is gaining popularity among fans of different age groups as it i 2022-08-31
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  Southeastern city Gyeongju to adopt artificial intelligence-based one-click smart tourism service SEOUL -- One-click tourism service that enables tourists to reserve and pay for accommodations, restaurants and transportation using a smartphone app will be adopted in the southeastern city of Gyeongju which has various historical sites. Using artificial intelligence technology, the smart tourism service will recommend travel routes depending on users' personal tastes and schedules. In 2020, Gyeongju was visited by some 5 million people including about 53,000 foreign tourists. 2022-08-30
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  Seoul to conduct closed beta test for metaverse world mega project SEOUL -- Seoul will carry out a closed beta test for some of the metaverse-based services that are part of a mega project to recreate the capital city in a virtual world. The project is designed to provide public services through metaverse platforms of every administrative sector. Selected test users can go for a stroll, interact with virtual animals, read books and enjoy fun activities such as playing in the water. In November 2021, Seoul unveiled its scheme to recreate the capi 2022-08-30
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  Taekwondo performance team K-Tigers to hold special event in Seoul to attract tourists SEOUL -- K-Tigers, a Taekwondo performance team that recreated BTS' global hit song "DNA" with a martial arts performance, will showcase glamorous taekwondo-based dance moves at an event that will be held in central Seoul to celebrate Taekwondo Day and attract tourists. After the event, Seoul will regularly host various taekwondo performances as a tourist attraction. K-Tigers has steadily gained popularity overseas for covering many different dance performances of fam 2022-08-30
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  [SUMMARY] Daily News Selection by Aju Business Daily on August 29, 2022 The following stories are the daily summary of news in South Korea on August 29, 2022. S. Korea and China agree to strengthen supply chain collaboration through consultative group SEOUL-- South Korea and China reached an agreement on August 27 to intensify their supply chain collaboration and communication by establishing a new high-level consultative group. The agreement was made in accordance with a memorandum of understanding (MOU) that was signed virtually during the 17th Ko 2022-08-29