Economy
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Shinhan Card users unable to use credit card services during autumn harvest festival
SEOUL -- Users of Shinhan Card, South Korea’s most popular credit card service, experienced an unexpected situation during "Chuseok," the Korean traditional harvest festival celebrated on August 15 of the Lunar Calendar, when they were unable to use their credit cards at stores and restaurants. Chuseok is a three-day holiday where people visit their hometowns and family relatives. It is also a great time to shop and spend money on gifts and food. It is also common f
30 September 2023
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S. Korean robot startup wins state approval to release AI-based recycling robots
Seoul -- South Korea's recycling robot maker EAPS won government approval to commercialize an artificial intelligence-based recycling robot that is capable of sorting waste materials and recycling them into waste plastic pyrolysis oil. The robot producer plans to install the new product at apartment complexes in Suwon some 34 kilometers (21 miles) south of Seoul. In South Korea, most recyclable materials are sorted by categories such as plastic, metal, and paper before being throw
27 September 2023
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S. Korea and Qatar discuss ways to strengthen LNG-based distribution network
SEOUL -- South Korea and Qatar discussed ways to strengthen their liquefied natural gas distribution network through a meeting of the two countries' energy ministers. South Korea and Qatar's trade volume reached $17.1 billion in 2022 and maintained a strong trade partnership based on LNG and LNG tankers despite the growing uncertainties in the global energy market. South Korea's Trade, Industry and Energy Minister Bang Moon-kyu met with Saad Sherida Al-Kaabi, Qatar's Mi
27 September 2023
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Startups welcome justice ministry's decision to withdraw restrictions from mobile lawyer service
SEOUL -- Information technology-related ventures and startups welcomed the justice ministry's decision to cancel the disciplinary actions against lawyers who provided legal consulting services through LawTalk, an online legal consulting platform that provides matchmaking services for lawyers and clients. LawTalk, operated by Law & Company, was launched in 2014 to provide ordinary people with easy access to law-related services. While almost every legal service in South Korea is
27 September 2023
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More than 1.9 billion Spam products sold in S. Korea as of 2022
SEOUL -- Spam, a popular canned pork brand made by American food processing company Hormel Foods, is being widely consumed in South Korea. More than 1.9 billion 200-gram (0.4 pounds) Spam products were sold in the country as of 2022, data released by CJ Cheiljedang, a South Korean food company in charge of domestic spam production, showed. Canned pork was first introduced during the Korean War (1950~1953) when the United States' armed forces fought alongside South Korea to repel No
26 September 2023
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Donga Social Holdings partners with LS E-Link to cooperate in EV charging infrastructure development
SEOUL -- Dong-A Social Holdings, the holding company of South Korean drug maker Dong-A Pharmaceutical, has partnered with LS E-link, the electric vehicle charging station wing of energy infrastructure maker LS Group, to cooperate in the acceleration of EV infrastructure development. As of 2022, there were some 400,000 clean energy vehicles registered in South Korea where some 5.5 million vehicles roam the roads. The number of registered clean energy vehicles, mostly EVs, increased by
25 September 2023
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Taihan Cable wins $60 mln high voltage power grid project order in Bahrain
SEOUL -- Taihan Cable & Solution, a power cable and grid infrastructure company in South Korea, has secured an order worth $60 million to establish an extra high-voltage power grid in Bahrain. A 400-kilovolt-class power grid will be installed to supply electricity for a new substation that will be built on the western coastal region "Al Jasra." Taihan Cable said in a statement on September 22 that the company made a foray into the Bahraini market through an order by the E
22 September 2023
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Hyundai E&C plans to open new branch in Warsaw to expand small modular reactor business
SEOUL -- South Korea's major builder Hyundai Engineering and Construction plans to open a new branch in Poland to provide small modular reactors that are smaller and safer than conventional nuclear reactors. Through the new office in Warsaw, the company would expand its nuclear reactor business to other European countries including Lithuania, Romania, and Slovakia. Small modular reactors (SMRs) can address the limitations of conventional light-water reactors light-water reactors us
18 September 2023
