Economy
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SK E&S partners with central city to establish hydrogen bus infrastructure
SEOUL -- SK E&S, an energy wing of South Korea's SK Group, has partnered with the central city of Cheonan to develop and establish infrastructure for hydrogen fuel cell buses and hydrogen charging stations. South Korea is currently undergoing a structural change in a bid to reduce the country's dependency on fossil fuels and adopt clean and renewable energy systems. Hydrogen buses are part of South Korea's big picture to go green and clean energy vehicles are being o
November 9, 2023 -
POSCO Holdings partners with Canadian investment company to roll out oil field brine-based lithium businesses
SEOUL -- POSCO Holdings, the holdings company of South Korea's steelmaker POSCO, has partnered with a private investment company based in Alberta, Canada, to develop and commercialize businesses that include the extraction and processing of lithium from oil field brine. Oil field brine is salt water often found in and around underground oil wells. Although they are a typical byproduct of oil and natural gas, they were mainly thought useless due to impurities containing dissolved
November 8, 2023 -
CJ Feed & Care to develop AI-based monitoring technology for shrimp farms
SEOUL -- CJ Feed & Care, a livestock feed corporation affiliated with CJ CheilJedang, will develop an artificial intelligence-based monitoring technology that can manage shrimp farms using underwater sound waves. The solution can help shrimp farmers supply an appropriate amount of feed by estimating the number of shrimp underwater and their weight. The company will work with Tidepool, a domestic smart aquaculture solution startup. The smart monitoring technique is more efficient
November 8, 2023 -
GS Retail's operating profit increases by 44.6 percent on-year in 3Q 2023
SEOUL -- GS Retail, the retail wing of South Korea's GS Group, has seen its operating profit increase by 44.6 percent on-year in the third quarter of 2023 thanks to successful results of aggressive expansion in the number of supermarket stores and thriving hotel businesses. GS Retail operates various businesses including GS25, the country's second-largest convenience store chain with 16,448 stores across South Korea in 2022, GS Fresh, a mid-sized supermarket chain, and Parna
November 8, 2023 -
Coupang marks highest-ever quarterly sales of some $6.2 bln in 3Q 2023
SEOUL -- Coupang, the South Korean counterpart of American ecommerce giant Amazon, has marked the company's highest-ever quarterly sales of $6,183,550,000 (about 8.2 trillion won) in the third quarter of 2023. The company succeeded in maintaining its sales momentum that had accelerated during the COVID-19 pandemic when consumers used convenient quick online grocery delivery services instead of visiting offline shopping malls. The ecommerce company also known as the South Korean
November 8, 2023 -
Woowa Brothers to demonstrate food delivery robots on streets of Gangnam
SEOUL -- Woowa Brothers, the operator of the popular food delivery service app Bamin, will test the efficacy of five six-wheeled robots on the streets of Gangnam, a southern Seoul district famous for rapper Psy’s 2012 global hit song "Gangnam Style." Baemin first started the demonstration of its delivery robots by deploying "Dilly," the service robot, to a campus in eastern Seoul in late 2019. The company later developed delivery robots that can carry dri
November 7, 2023 -
SK On to provide battery cells to Swedish carmaker Polestar's new electric vehicle
SEOUL -- SK On, the batter-making wing of South Korea's SK Group, will supply its battery cells to Swedish automotive brand Polestar for its upcoming electric vehicle scheduled for production in 2025. The vehicle will be powered by batteries consisting of over 80 percent of nickel. Battery manufacturers have been striving to produce more efficient batteries, such as NCM batteries that contain nickel, cobalt, and manganese. High-nickel batteries can help manufacturers save costs and
November 6, 2023 -
S. Korean consortium to produce tire materials using pyrolysis oil
SEOUL -- A consortium of South Korean companies and research institutes will carry out a project to recycle car tires using pyrolysis oil-based materials. Oil extracted from discarded car tires will be refined and supplied to Hankook Tire & Technology, a major tire maker in South Korea. According to data released by South Korea's conglomerate Hyosung, about 350,000 tons of waste tires are being produced in South Korea. Around 50 percent of them are landfilled, contaminating
November 2, 2023 -
SK Geocentric partners with Britain's Plastic Energy to build pyrolysis plant in southwestern port city
SEOUL -- South Korea's plastic recycling technology company SK Geocentric will work with Plastic Energy, a chemical recycling company in Britain, to build a pyrolysis plant that can recycle about 66,000 tons of plastic waste per year, in the southwestern port city of Dangjin. Pyrolysis is a chemical recycling process used to turn discarded plastic into high-quality oil. Pyrolysis involves intense heat and pressure to break down waste plastics into oil. The reclaimed oil can be used
November 1, 2023 -
Exports of kimchi continue to increase thanks to popularity in US and Europe
SEOUL -- Exports of kimchi, traditional Korean pickled vegetables, have continued to increase by more than 10 percent on-year thanks to consumers in the United States and Europe who recognize the salad-like spicy mixed vegetable pickles as healthy food. Kimchi, mostly recognized as salted Chinese cabbage seasoned with red chili pepper powder, ground garlic, and fish sauce, has been the core of South Koreans' diet. The salted cabbage ferments over time to become sour. Some peo
October 31, 2023
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Global tech firms to present smart manufacturing solutions at 'Smart Factory + Automation World' in Seoul
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Occult thriller film 'Exhuma' attracts more than 10 mln moviegoers in 35 days of release
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Education company Visang provides smart Korean language learning platform 'Klass' to Vietnamese universities
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LS Cable embarks on construction of plant for new copper foil material
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Seoul's bus labor union launches strike for first time in 12 years
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Turkish automotive association seeks partnership with S. Korean companies
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US political turmoil reflects our wider society – in 2024 and earlier elections
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S. Korean mobility solution company targets historical city as gateway to Viet Nam
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Avikus validates fuel-saving effect of self-sailing solution 'HiNAS Control'
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Life expectancy in South Korea decreases for first time since 2000