Latest news
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Zara adopts AR technology for customers to wear various makeup
SEOUL -- Augmented reality technology was adopted at a store run by Zara, a Spanish apparel retailer, where customers can try on different types of makeup through three-dimensional simulation. The store located at a shopping complex in southern Seoul is Zara's fourth experimental store after Spain's Madrid, Japan's Ginza, and Dubai in the United Arab Emirates. Augmented reality (AR) filters are computer-generated effects overlapped with the actual images displayed by th
May 20, 2022 -
SK ecoplant secured 30% stake in Malaysia's waste management company Cenviro
SEOUL -- SK ecoplant secured a 30 percent stake in Cenviro, a waste management service provider in Malaysia, to cement its competitiveness as an environmental and energy solution provider and secure its foothold in Southeast Asia. Financial terms were not disclosed, but the deal reflects SK ecoplant's active push for business expansion abroad. Cenviro, which operates Malaysia's first integrated waste management center, specializes in solid waste management and public cleansi
May 20, 2022 -
Scanline pledges $100 million investment in S. Korea's special effects film production facility
SEOUL -- Scanline VFX, a prominent visual effects and animation company acquired by Neflix, will invest some $100 million in South Korea's special effects film production facility using virtual reality production technology. The investment will be made over six years until 2027. The Ministry of Trade, Industry and Energy said that Trade Minister Ahn Duk-geun and Scanline President Stephan Trojansky were to attend an investment signing ceremony in Seoul on May 20. Scanline has wo
May 20, 2022 -
Hanhwa Group installs smart solar panel beehive to help preserve honeybees
SEOUL -- In an effort to raise awareness about a rapid decrease in the population of honeybees worldwide, South Korea's Hanwha Group unveiled a smart beehive that protects the living environment of honeybees using solar power. The beehive capable of monitoring the temperature and humidity of bees' habitat will be used by researchers to increase the population of honeybees. Data released by the Food and Agriculture Organization of the United Nations (FAO) showed that more th
May 19, 2022 -
Axiom founder holds business talks with Boryung's CEO as partners in space project
SEOUL -- Kam Ghaffarian, the founder of U.S. space infrastructure developer Axiom Space, has held business talks with Boryung Corp.'s leader during his visit to South Korea as a partner in their joint initiative to advance the next generation of pharmaceutical, bioscience and medtech development in space. The meeting with CEO Jay Kim of Boryung Corp. engaged in pharmaceutical manufacturing, took place on May 17 in Seoul. Boryung has made an unspecified amount of equity investmen
May 19, 2022 -
Kakao Enetertainment merges two American subsidiaries to compete with domestic rival
SEOUL -- The content and entertainment wing of South Korea's web service giant Kakao expanded an unyielding turf war with its domestic archrival from Asia to North America by merging two American webtoon and web novel platform subsidiaries into a new entity to create synergy and become a leading player in the storytelling industry. Tapas Media, an American snack culture content provider known as "YouTube of Comics," and Radish Media, a U.S.-based web novel platform, wi
May 19, 2022 -
Convenience store chain CU partners with drone developer to help communities
SEOUL -- BGF Retail, the operator of South Korea's largest convenience store chain CU, will adopt drone technology to help communities in case of disasters in cooperation with a domestic drone developer. BGF Retail will create relief goods and use its delivery vehicles as charging stations for drones. Drones designed for rescue purposes are equipped with various optical equipment such as cameras, radars and thermal imaging sensors. Some drones carry out structural safety checks
May 19, 2022 -
SK Biopharmaceuticals partners with U.S. biotech company Cala to fuel innovation in neurology
SEOUL -- SK Biopharmaceuticals and its parent investment company, SK Inc., will make an unspecified amount of investment in Cala Health, a Silicon Valley-based bioelectronic medicine company, to secure opportunities for potential technology collaboration and explore solutions for new indications in neurology. The two SK Group units have participated in a Series D funding round for Cala, the leader in non-invasive bioelectronic therapy via a wearable device that is proven to reduce e
May 19, 2022 -
Hancom to launch S. Korea's first private satellite for integrated image analysis service
SEOUL -- South Korea's first private satellite for earth observation will be launched aboard a SpaceX rocket with the aim of providing video services in high demand for satellite data in Asia and the Middle East. The ultra-small satellite weighing 10.8 kilograms would collect image data after a one-month test operation at an altitude of 500 kilometers (310 miles). The low-orbit satellite named Sejong 1, developed by Hancom Inspace, a subsidiary of South Korea's Hancom Group
May 18, 2022 -
Hyundai auto group unveils massive investment plan to boost domestic electric vehicle production
SEOUL -- In an unheralded announcement, South Korea's Hyundai auto group came up with the proposed investment of some 21 trillion won ($16.6 billion) to boost the domestic production of electric vehicles to 1.44 million units per year by 2030. The domestic production of electric vehicles in 2022 is estimated at 350,000 units. Without specifying where and how much their investment will be funneled, Hyundai Motor and its affiliate, Kia Motors, vowed to enhance a domestic electri
May 18, 2022