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Kakao Enterprise partners with video tech solution company to beef up live commerce services
SEOUL -- Kakao Enterprise, the artificial intelligence-based business solution developer wing of South Korea's web service giant Kakao, has partnered with a domestic video technology solution company to beef up the company's live commerce broadcasting platform. A live commerce service offers online and mobile entertainment shopping shows in formats that are similar to that of TV home shopping channels. However, unlike the original TV shopping show format, the online versi
2022-04-27
Lotte Chemical partners with US battery startup SOELECT to set up joint venture
SEOUL -- Lotte Chemical, a major chemical company in South Korea, has partnered with SOELECT, a North Carolina-based electric vehicle battery startup specializing in lithium metal batteries, to set up a joint venture. They have yet to make a decision on whether to build a lithium metal anode production plant in the United States. Founded in 2018, SOELECT focuses on the development and production of lithium metal anodes which are considered the next-generation battery parts that wil
2022-04-27
SK Inc. makes additional investment to acquires domestic SiC power semiconductor producer
SEOUL -- As part of a group-wide campaign to strengthen its battery-related business, SK Inc., an investment-oriented holding company of South Korea's third-largest conglomerate SK Group, will acquire Yes Powertechnix, the only domestic producer of power semiconductors based on a component of silicon and carbide (SiC), which are emerging as a key component of electric vehicles. Through the additional injection of about 120 billion won ($95 million), SK Inc. said it would acqui
2022-04-27
LG and Seoul National University open joint research center for core hyperscale AI multimodal technologies
SEOUL -- The research center operated by South Korea's LG Group and Seoul National University has opened a joint artificial intelligence research center to accelerate their study on hyperscale multimodal AI systems. A multimodal AI system uses special processing algorithms to learn and understand connections between various types of data including texts, voices, images, and other numerical data. The AI system can also mimic the way humans think to understand surroundings us
2022-04-26
Doosan Bobcat joins hand with Plug-SK E&C joint venture to develop fuel cell forklifts
SEOUL -- Doosan Bobcat, a construction equipment maker affiliated with South Korea's Doosan Group, joined hands with a joint venture created by SK E&C, the engineering and construction wing of SK Group, and PLUG, an American hydrogen energy company, to develop and commercialize hydrogen fuel cell-powered forklifts. In January 2022, Doosan Bobcat showcased an all-electric compact track loader at CES 2022, the world's largest consumer electronics exhibition. The loader wa
2022-04-26
U.S. SMR company NuScale secures new partners in S. Korea to tap global market
SEOUL -- NuScale Power and its South Korean partner, Doosan Enerbility, have secured two new copemates for their push to trailblaze a fledgling global power generation market for small modular reactors, which have been studied to address the limitations of traditional light-water reactors. NuScale, a small modular reactor (SMR) company in the United States, signed a memorandum of understanding with Doosan Enerbility, GS Energy and Samsung C&T, a construction and engineering com
2022-04-26
LG Chem and state institute to open joint laboratory for carbon-neutral technologies
SEOUL -- LG Chem, the chemical unit of South Korea's LG Group, and a state science institute have opened a joint laboratory to research and develop carbon-neutral technologies that can tackle global warming due to the excessive use of fossil fuels. Green ethylene and organic acid production technologies will be researched and commercialized Many global companies, organizations, and institutes are locked in a race to develop techniques used to produce ethylene, a hydrocarbon reg
2022-04-26
US partner Nuscale allows Doosan Enerbility to produce forging materials for small modular reactors
SEOUL -- Under an agreement with its American partner, Nuscale Power, Doosan Enerbility, a key player in South Korea's nuclear industry, will produce forging materials for small modular reactors as early as 2022, with expectations for full-scale equipment manufacturing by the latter half of 2023. The materials to be produced will support NuScale's first commercial deployment of its power plant for Utah Associated Municipal Power Systems (UAMPS). Commercial operation of the
2022-04-25
CJ OliveNetworks develops AR-based industrial safety solutions for easy facility management
SEOUL -- CJ OliveNetworks, the information technology service operating wing of South Korea's CJ Group, has developed three augmented reality-based safety solutions that would help business operators safely and conveniently manage facilities. Augmented reality (AR) uses environments filmed with various types of cameras as a median tool for creating three-dimensional virtual objects that are displayed through a screen or a pair of smart glasses. Some AR solutions offer remote fe
2022-04-25
Exports of S. Korean instant noodles surpass $70 mln up 20% on-year
SEOUL -- Exports of South Korean instant noodles known as ramyeon soared 20 percent on-year to a record high of $71.5 million in March 2022, state data showed. The instant noodles that appeared in various Korean films including the Oscar-winning film "Parasite" have created a global online phenomenon, with consumers uploading themselves eating hot noodles onto YouTube. Data released by state-run tax organization Korea Customs Service showed that exports of ramyeon stood
2022-04-25
SD Biosensor acqures Italia's medical device distributor Relab SRL to boost sales in Europe
SEOUL -- SD Biosensor, an in-vitro diagnostics company that produces antigen self-testing kits, will acquire Italia's medical device distributor Relab SRL for about 61.9 billion won ($49.9 million) to strengthen its distribution network in Europe. The company has expanded its portfolio with abundant cash reserves and brisk exports. In a regulatory filing on April 22, SD Biosensor said that the acquisition of a 100 percent stake in Relab on June 30 is aimed at participating in ma
2022-04-22
LG's lighting system wing ZKW provides smart digital lighting to Range Rover
SEOUL -- Jaguar Land Rover's new "Range Rover" sports utility vehicle will be installed with smart headlights from ZKW Group, an Austrian automotive lighting system producer affiliated with South Korea's LG Electronics. ZKW's light-emitting diode (LED) headlights produce glare-free high beams that automatically block out oncoming or other road users. The smart digital lighting automatically produces glare-free high beams, detects the width of the road, and illu
2022-04-21
CHA biotech to develop digital healthcare platform for foreign patients
SEOUL -- CHA Biotech, a biopharmaceutical company with South Korea's largest pipeline of stem cell therapies, was selected by a state healthcare institute to develop a digital healthcare platform for foreign patients visiting Seoul and other major cities for medical treatment purposes. The platform will help medical staff manage the conditions of patients who cannot visit South Korea because of a coronavirus pandemic. Through a revised medical law in 2009, South Korean medical
2022-04-21
GI Innovation confident over stock market debut as promising bio-venture unicorn
SEOUL -- As a promising unicorn in South Korea's bio-venture industry, GI Innovation aims to become a global player based on proven technologies through its successful stock market debut in the second half of 2022. The company showed confidence, citing its successful record of attracting investments from major domestic and foreign investors. GI Innovation has submitted a preliminary application for its initial public offering (IPO) on South Korea's second stock market, KOSDA
2022-04-21
LG Household & Health Care acquires 65% stake in LA-based brand Creme Shop
SEOUL -- LG Household & Health Care, a major consumer goods company in South Korea, has acquired a controlling 65 percent stake worth $120 million in the Creme Shop, a Los Angeles-based brand that manufactures cosmetics and beauty products. LG Household said the deal is aimed at strengthening competitiveness in its cosmetics business in North America. The South Korean company signed a call option to purchase the remaining 35 percent stake five years later. Creme Shop is seen
2022-04-20
LG-Magna joint venture breaks ground for first factory in Mexico
SEOUL -- A joint venture between Canada's mobility technology company Magna International and its South Korean partner, LG Electronics, will build a plant in Mexico to produce parts such as inverters, motors, and on-board chargers for General Motors' electric vehicles. Construction of the plant to be run by LG Magna e-Powertrain began in a ceremony in Ramos Arizpe, Mexico, for completion in 2023. The plant will be the joint venture's first production base in North Americ
2022-04-20
SK ecoplant works with domestic firms to produce GFRP rebars using recycled PET bottles
SEOUL -- SK ecoplant, affiliated with South Korea's conglomerate SK Group, joined hands with two domestic companies to produce glass fiber reinforced plastics (GFRP) rebars using recycled polyethylene terephthalate (PET) bottles. Their joint plant will secure price competitiveness through the automation of all processes. GFRP was used as an alternative material to the reinforcement bar (rebar), a steel bar or mesh of steel wires used as a tension device in reinforced concrete an
2022-04-20
CJ OnStyle to resume selling overseas travel products in two years through live commerce
SEOUL -- CJ OnStyle, the online commerce wing of South Korea's entertainment and media giant CJ ENM, will resume sales of overseas travel package products through a live commerce service. South Korean travel companies have stopped selling travel packages to overseas locations since 2020 when the government strictly regulated travelers due to a coronavirus pandemic. Live commerce is a home shopping-like online service that uses mobile shopping platforms or social media for live
2022-04-19
Dongwon Systems starts mass production of metal cans for 21700-type cylindrical batteries
SEOUL -- Dongwon Systems, the packaging solution developer wing of South Korea's Dongwon Group, has started the mass production of metal can-shaped casings for 21700-type batteries that have about 30 percent more capacity than 18650-type high-performance batteries. While ordinary prismatic lithium-ion batteries are packaged inside flexible and soft polymer casings, cylindrical batteries are encased inside metal cans. The tube-shaped batteries have a smaller energy capacity than
2022-04-19
KT finds automated work assistant robot solution effective at reducing operational costs and time
SEOUL -- KT, the biggest telecom company in South Korea, has found that automated work process automation solutions helped the company reduce operational costs and time. The telecom company also used the robot solution to create a "paperless" work environment where many company letters and notifications were replaced with emails and messenger app messages. A robot process automation (RPA) solution is an automated work assistant solution that can effectively help human wo
2022-04-18
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Real Time Photo News
Highest court confirms 18-month jail sentence for former BIGBANG member Seungri
Shinsegae's online fashion platform showcases virtual reality exhibition room for new designer brand
CJ ENM's virtual production stage features Samsung's micro-LED screen and connected cameras
Girl band Le Sserafim's Kim Ga-ram suspended over school bullying
Scanline pledges $100 million investment in S. Korea's special effects film production facility
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