Economy
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S. Korean web content industry secures $5.2 mln export deal in Europe
SEOUL -- At an event designed to promote South Korean web-based content such as digital comics and novels in Paris, domestic companies, secured an export deal worth about $5.2 million. The Korea Creative Content Agency, a government body charged with governing cultural content, said in a statement that 15 domestic firms recorded export contracts of some $5,276,000 at the "2023 K-Story & Comics in Europe." More than 300 business counseling services were conducted by th
July 10, 2023 -
LS Electric to establish power distribution plant in Texas
SEOUL -- LS Electric, a power solution provider affiliated with South Korea's LS Group, will build a power distribution infrastructure in Texas targeting South Korean factories located in North America. The facility, which is set to be located near Samsung's semiconductor foundry, will provide its electricity distribution system for domestic companies specializing in semiconductors, secondary batteries, and home appliances. In November 2022, LS Electric partnered with Samsung
July 10, 2023 -
LG Chem's virtual marine forest garners explosive popularity on metaverse platform Zepeto
SEOUL -- A virtual marine forest platform where users can grow seagrasses and clean up ocean waste has gained more than one million users on Zepeto, a metaverse platform created by South Korea's web service giant Naver. The virtual marine forest platform, made by the chemical unit of South Korea's LG Group, is designed to raise awareness about blue carbon, an essential part of ocean ecosystems. Blue carbon is organic carbon captured and deposited by organisms such as seagrasses
July 7, 2023 -
Samsung Electronics records operating profit of $459 mln in 2Q 2023, down 95.74 percent on-year
SEOUL -- Due to global sluggish global smartphone and semiconductor market, Samsung Electronics saw its sales and operating profit decrease in the second quarter of 2023. According to the data released by the Semiconductor Industry Association, global semiconductor sales totaled $40.7 billion in May 2023, up 1.7 percent on-month but 21.1 percent less than the $51.7 billion recorded in May 2022. The company announced its preliminary sales report on July 7 and said that Samsung recorde
July 7, 2023 -
Hyundai Glovis partners with ocean plastic disposal company to remove global marine wastes
SEOUL -- Hyundai Glovis, the logistics wing of Hyundai auto group, partnered with The Ocean Cleanup, a Netherlands-based non-profit environmental engineering organization, to launch a project designed to collect marine waste-related data and collect waste plastics. According to the United Nations, about 460 million tons of plastic products are produced annually and only about 10 percent is recycled. Many uncollected plastics end up in rivers and oceans where they threaten the lives of
July 6, 2023 -
LG Energy Solution and Stellantis to resume construction of EV battery factory in Canada after subsidies deal
SEOUL -- A joint venture between South Korean battery maker LG Energy Solution and American carmaker Stellantis will resume the construction of a five-billion Canadian-dollar electric vehicle battery plant in Ontario, Canada after the companies reached a financial deal with the governments of Canada and Ontario. LG Energy Solution (LGES) and Stellantis announced their joint Ontario battery plant investment in March 2022 but things changed when the United States passed the Inflation Red
July 6, 2023 -
JM. Wave wins state approval to convert internal combustion engine trucks into electric vehicles
SEOUL -- JM. Wave, a South Korean carmaker specializing in electric vehicle conversion, won government approval to convert internal combustion engine trucks into electric models. The company will dismantle various old and damaged trucks weighing about one ton (1,000 kilograms) to recreate them into electric trucks. It has been difficult for the South Korean car manufacturer to carry out electric vehicle (EV) conversion businesses due to government restrictions. Through a regulatory san
July 5, 2023 -
SK bioscience to transfer influenza vaccine production technology to Thailand's state-run drugmaker
SEOUL -- SK bioscience, the developer of South Korea's first homemade COVID-19 vaccine, will transfer production technology for cell-based influenza vaccine to a state-run pharmaceutical firm in Thailand. After completing the transfer process, the Thai company aims to utilize SK biosciences technology called "SKYCellflu" for a national immunization project. Cell-based flu vaccines, created using mammalian cells such as kidney cells from monkeys and dogs, are considered to
July 5, 2023 -
Convenience store chain Emart24 opens third store in Singapore
SEOUL -- The convenience store chain of South Korea's retail giant Shinsegae has opened its third store in Singapore less than seven months after the launch of its first store in December 2022. Visitors can enjoy various types of South Korean snacks including instant noodles known as Ramyeon and Tteokbokki, a menu of finger-sized rice cakes simmered in fiery-red spicy chili sauce. The store also has a dining spot where consumers can eat meal kits. Emart24 said in a statement on
July 5, 2023 -
S. Korea establishes alliance to accelerate development and distribution of small modular reactors
SEOUL -- South Korea has set up an alliance of administrative organizations and private companies to promote the development and distribution of small modular reactors that are smaller and safer than conventional nuclear reactors. Small modular reactors (SMRs) can address the limitations of light-water reactors using low-enriched uranium that cost a lot to replace nuclear fuel and require a vast emergency evacuation zone, nonproliferation, and waste management. Small reactors desig
July 4, 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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US political turmoil reflects our wider society – in 2024 and earlier elections
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Le Sserafim's "Easy" named on Billboard's top 200 popular albums chart for four consecutive weeks
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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
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Hanwha's cooperative robot wing showcases robot sommelier at 'Smart Factory + Automation World'
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Lotte Rental achieves 'Baa3' credit rating from Moody's