Economy

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  Daewoong Pharmaceutical uses HD Junction's cloud EMR for entry into Southeat Asia SEOUL -- Daewoong Pharmaceutical, a bioengineering company in South Korea, tied up with HD Junction, a domestic provider of healthcare information technology solutions, for their joint entry into Southeast Asian healthcare markets using a cloud-based electronic medical record (EMR) platform. Daewoong will build a local business model using existing infrastructure, and HD Junction will provide cloud EMR technology to support business expansion. "HD Junction and Daewoong Pharmac 2022-05-17
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  SK Telecom launches new growth-type AI service with cute characters SEOUL -- SK Telecom has launched a new growth-type artificial intelligence service with cute characters that handles the cumbersome behavior that customers face using smartphones and recommends and plays what they may like. Unlike other hard and cold AI brands, it aims to become a brand that grows with customers. The new AI service called "A. (A dot)" is initially available as an open beta version to Android smartphone users. To help customers use their time for more valua 2022-05-16
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  Naver's webtoon wing partners with Japanese media companies to launch joint venture SEOUL -- The web comics wing of South Korea's internet service giant Naver has partnered with TBS, a media enterprise in Japan, and Japan's webtoon publisher Shine Partners to launch a joint venture that would create synergy by recreating popular web cartoons into dramas, films, and other content. The joint venture will target Japan's rapidly growing webtoon market which stood at $4.7 billion in 2020. Webtoons, also known as web comics, are digital comic books opti 2022-05-16
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  LG Household & Health Care opens microbiome research center in Japan's northern island SEOUL -- LG Household & Health Care, a consumer goods company in South Korea, has opened a research center in Hokkaido, the northernmost of Japan's main islands, to develop natural fermentation and microbiome cosmetics targeting global customers. The region with a clean environment was favored as an ideal place for studying microbiomes and natural fermentation. The microbiome is a cluster of all types of microscopic organisms that co-exist with humans such as bacteria, fungi 2022-05-13
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  POSCO makes equity investment in Taiwan's Prologium to produce all-solid-state battery electrolytes SEOUL -- South Korea's leading steel group POSCO made a strategic equity investment in Taiwan's solid-state battery developer Prologium Technology to cooperate in the production of all-solid-state battery electrolytes for electric vehicles with the aim of pre-empting an emerging market for next-generation battery materials. POSCO Holdings said it has signed a contract with Prologium to jointly develop cathode materials for solid solid-state batteries, silicon anode material 2022-05-13
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  Hanwha Q CELLS launches new brand to make foray into EV charging service market SEOUL -- The photovoltaic cell-making wing of South Korea's Hanwha Group has launched a new brand to make a foray into the country's electric vehicle (EV) charging service market. The government aims to increase the number of private and commercial EV chargers from about 100,000 in 2022 to 500,000 by 2025. Boosted by a strong government campaign to go completely carbon-zero by 2050, South Korea's EV market is witnessing a boom like other countries. As of March 2022, the 2022-05-13
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  Taekwang Industry's board endorses new investment to boost aramid production SEOUL -- Taekwang Industry, a chemical and textile company in South Korea, will invest 145 billion won ($112 million) to boost the production of aromatic polyamide (aramid), a class of heat-resistant and strong synthetic fibers, from 1,500 tons to 5,000 tons per year by 2025 in response to a fast increase in global demand. Taekwang Industry said its board has endorsed the expansion of aramid production to strengthen competitiveness. "This investment decision is to preemptivel 2022-05-13
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  Hanwha Solutions discloses new investment to produce high-performance solar cells SEOUL -- Hanwha Solutions, a chemical and energy company affiliated with South Korea's Hanwha Group, will enhance the competitiveness of solar cells by building new production lines for high-performance photovoltaic cells and modules in South Korea and the United States. The new investment comes on the heels of fierce competition with Chinese companies. At Intersolar, a solar industry exhibition in Munich, Hanwha Solutions disclosed the planned injection of some 380 billion won 2022-05-12
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  State institute commercializes nasal spray-type medical device for disease prevention SEOUL -- A venture company established by South Korea's state research institute has received government approval to sell a newly-developed nasal spray-type medical device for the prevention of infectious diseases. The so-called spray-type mask is activated by light to eliminate viruses and germs that enter the nasal passage. The Korea Institute of Science and Technology (KIST) said that its bio venture company D.R.NANO was approved to sell the nasal spray-type medical device w 2022-05-12
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  KT partners with digital healthcare company to make foray into Vietnam's telemedicine market SEOUL -- South Korea’s top telecom company KT will work with HurayPositive, a domestic digital healthcare company, to make a foray into the Vietnamese telemedicine market. Using HurayPositive’s chronic disease management know-how, KT hopes to popularize its remote medical service in Vietnam where many patients suffer from diabetes. Through telemedicine services, doctors can provide healthcare for patients living in remote areas. Using phone or internet networks, they ca 2022-05-12
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  SK Telecom works with domestic robot company to develop open data platform SEOUL -- SK Telecom, a leading mobile carrier in South Korea, joined hands with Integrit, an artificial intelligence-based robotics platform developer, to develop an open data platform that allows interworking between different robots, and lead the spread of a robot ecosystem. As intelligent robots in service are generally limited to information learning and data processing in the restricted space, there is a growing need for a standardized platform that can mutually share and pro 2022-05-12
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  Hyundai Oilbank promotes white bio business with non-food resources SEOUL -- Along with blue hydrogen as well as eco-friendly chemicals and materials, Hyundai Oilbank, a petroleum and refining company affiliated with South Korea's Hyundai shipbuilding group, will promote "white bio" as a new growth engine by utilizing non-food resources such as oil dregs, waste cooking oil, and fallen palm fruits as raw materials. The bio Industry creates added value based on biotechnology by combining industrial technologies. Red bio refers to the bio 2022-05-11
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  European company Hardt to receive POSCO's steel material for hyperloop tubes SEOUL -- South Korea's steel group POSCO will supply PosLoop 355, a steel material for hyperloop tubes, to Hardt, a European technology company that has led a hyperloop development program in the Netherlands. Hyperloop vacuum tubes are used in a revolutionary bullet train project to transport passengers and cargo in special capsules through tubes with low pressure. Reduced-pressure tubes in which pressurized capsules ride on an air cushion driven by linear induction motors and a 2022-05-11
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  Hanwha Impact's subsidiary secures order to turn Rotterdam gas turbine into mixed combustion SEOUL -- Thomassen Energy, the Dutch gas turbine subsidiary of Hanwha Impact, has secured an order to turn a 123-megawatt-class gas turbine run by Uniper, a German energy company, into a mixed combustion system that burns natural gas together with hydrogen to generate electricity. Uniper's 23-megawatt turbine in Rotterdam will be transformed into a combustion system that burns more than 30 percent of hydrogen, Hanwha Impact said, adding that a nitrogen oxide treatment system w 2022-05-10
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  Samsung C& strengthens partnership with American SMR company NuScale SEOUL -- Samsung C&T, a Samsung Group unit involved in trade, investment and construction, will strengthen its partnership with NuScale Power, a small modular reactor (SMR) company in the United States. They agreed to cooperate as a strategic partner in SMR projects in Romania and other East European countries. 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 2022-05-10
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  SK E&S joins world's largest carbon capture project by acquiring 10% of U.S. project leader Summit SEOUL -- SK E&S, an energy company affiliated with South Korea's SK Group, will join what would be the world's largest carbon capture project by spending $110 million to acquire a 10 percent stake in U.S. project leader Summit Carbon Solutions, a business platform that addresses the global challenge of decarbonization. Summit's project is aimed at capturing up to 12 million tons of carbon dioxide (CO2) a year from 32 corn ethanol plants in five midwest states. CO2 ca 2022-05-10
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  ​Samsung Medical Center develops AI-based bedsore management solution SEOUL -- A major general hospital in Seoul has developed an artificial intelligence-based management solution for bedsores. The solution will analyze photographs of a patient's areas of skin where ulcers were created and predict the development of the disease while suggesting doctors with the right dressings. Bedsores, or pressure sores, are ulcers created on areas of the skin that are constantly under pressure from lying down, sitting in a wheelchair, or wearing a cast for a l 2022-05-09
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  Researchers work on technologies of recover high-purity resources from solar waste panels SEOUL -- South Korean researchers will lead a government-initiated project to develop technologies that recover high-purity resources from solar waste panels. When technology is developed, 97 percent of silver and 95 percent of silicon can be recovered and recycled from solar waste panels. Solar panels are composed of glass, aluminum, plastic, and silver. Currently, the recycling of solar waste panels is complicated and not eco-friendly because raw materials are separated by crush 2022-05-09
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  KT's logistics platform wing releases AI freight brokering service SEOUL -- lolab, the digital logistics platform wing of South Korea's major telecom company KT, launched an artificial intelligence-based freight brokering service targeting the rapidly growing logistics industry. Once users register their cargo information into the system, the platform will find the best-matching driver for a minimum fee. Government data showed that South Korea's logistics industry is projected to reach 116 trillion won ($90.9 billion) in 2025 and 140 trillion 2022-05-09
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  LG Chem works with state institute to commercialize electrochemical reactor for CO2-based plastic production SEOUL -- LG Chem, the chemical unit of South Korea's LG Group, joined hands with a state institute to develop and accelerate the commercialization of an electrochemical reactor to convert carbon dioxide into a core material for plastics. The reactor is also capable of producing various types of syngas. The reactor was developed through a project that began in April 2021 to develop carbon capture and utilization (CCU) technologies and hydrogen energy technologies which are key e 2022-05-09