Economy

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  LG Electronics wins patent lawsuit in Germany against China's TCL SEOUL -- LG Electronics has won a patent infringement lawsuit in Germany against China's TCL Communication Technology and two European affiliated entities, which were accused of violating essential technology related to long-term evolution, a standard for wireless broadband communication for mobile devices and data terminals. In its ruling last week, the Mannheim Regional Court in Germany found that TCL had infringed on claims in LG’s standard-e 2021-03-09
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  Samsung shipyard wins new order for five LNG-powered container ships SEOUL -- Samsung Heavy Industries solidified its status as the world's top builder of eco-friendly vessels powered by liquefied natural gas by securing a new order from an unidentified Asian client to construct five more ships. With the new deal, the shipbuilder has won $2.4 in orders for 19 vessels or 31 percent of this year's target of $7.8 billion. Samsung Heavy Industries (SHI) said in a regulatory filing on March 9 that it has wo 2021-03-09
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  POSCO joins hands with SK Global Chemical to develop light steel and plastic composite materials SEOUL -- In an effort to preemptively respond to changes in the vehicle parts market, SK Global Chemical will work with South Korea's steel group POSCO to develop light and hard steel and plastic composite materials for electric vehicles and future mobility. "We will prepare for the future era of eco-friendly vehicles by co-developing not only existing steel-based vehicle materials but also other materials such as plastic." POSCO's steel sector he 2021-03-08
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  Posco SPS boosts production capacity of stainless steel separators for hydrogen fuel cell vehicles SEOUL -- Posco SPS, a unit of South Korea's steel group POSCO, will boost the production of its stainless steel separator from the current capacity of 1,400 tons to 10,000 tons by 2027 that can be supplied to 250,000 hydrogen-powered vehicles. The separator is a key component of fuel cell stacks. An electric vehicle battery is designed in a structure where multiple units of cells are connected in series within a single cell-stack. The separato 2021-03-08
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  Microsoft ties up with LG Innotek to develop 3D sensing component for cloud platform SEOUL -- LG Innotek, a key producer of high-performance cameras, will develop and supply a 3D sensing component for Azure, a cloud computing service created by Microsoft that has strengthened service models through a combination of 3D cameras and cloud platforms. Mass-production is to begin in the second half of this year. Under a memorandum of understanding with Microsoft, LG Innotek said it would develop time of flight (ToF) modules for Azure platforms. A ToF mod 2021-03-08
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  S. Korean companies to build combined cycle power plant in Thailand SEOUL -- Two public companies in South Korea will work with their Thai partner to build a combined cycle power plant and related infrastructure such as liquefied natural gas tanks in Thailand's southern province of Songkhla. Construction is to begin in 2022. Through an online meeting, Korea Western Power, a power supplier in South Korea, signed a memorandum of understanding with Korea Gas Corp. (KOGAS) and TPI Polene Power, a Thai power company, f 2021-03-05
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  Transparent LED film displays videos and images at official venue of Busan film festival SEOUL -- A transparent and thin LED (light-emitting diode) film produced by LG Electronics displays videos and images on the facade of the official venue of an international film festival in the southern port city of Busan. The installation covers an area of 206 square meters to create a colorful dynamic panorama. The film installed at the Busan Cinema Center, which is a landmark in the port city, allows up to 73 percent of light to pass through, LG Ele 2021-03-04
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  Hanwha Techwin releases CCTVs with fog removal and other functions SEOUL --Mist, fine dust and yellow dust shorten the visibility of video surveillance and reduce the recognition rate of cameras used for closed-circuit television by making it difficult to grasp the outline and color of objects. Hanwha Techwin, a surveillance and optoelectronics company in South Korea, has released CCTVs with fog removal technology and other functions. When CCTV video is blurred due to fog and dust, Techwin's camera detects the si 2021-03-04
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  LS Mtron pushes for development of self-driving tractors with new technology SEOUL -- Korea Institute of Machinery and Materials (KIMM), a government-funded research institute in South Korea, used virtual reality technology to develop a technology that can realize an unmanned working environment. The technology can be used for agricultural tractors and industrial work machines. With KIMM's technology, LS Mtron, an electronic component and industrial machinery maker, would push for the development of self-driving tractors and a smart f 2021-03-04
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  Aviation industry wants government push to make early preparations for use of biofuels SEOUL -- South Korea's aviation industry wants a government push to make early preparations for the production and use of aviation biofuels, saying pilot operations in international flights are set to begin this year under an international scheme to lower CO2 emissions. Biofuels are biomass-derived fuels from plants or waste. The International Energy Agency wants biofuels to meet more than a quarter of global demands for transportation fuels by 2050. Howe 2021-03-03
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  Dongkuk Steel develops antiviral metal plates capable of killing COVID-19 virus in 30 minutes SEOUL -- South Korea's metal construction material maker Dongkuk Steel has developed an antiviral pre-coated metal plate that can be used for adorning the interior and exterior of a building. The steelmaker promotes its new metal plate as the first of its kind to have antiviral characteristics. Antimicrobial construction materials that kill microorganisms including bacteria and fungi are commonly available in the market. The most commonly used produc 2021-03-03
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  Hyundai Glovis strengthens logistics partnership with China's Changjiu Group SEOUL -- Hyundai Glovis, the logistics wing of South Korea's Hyundai auto group, strengthened its partnership with China's Changjiu Group and agreed to launch a joint railway transportation brand. Glovis would use its automotive logistics know-how and Changjiu's network to conduct aggressive sales to automakers in Europe and China. Glovis said in a statement on March 3 that it would sell a 30 percent stake in its European subsidiary, Adampo 2021-03-03
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  Aramco partners with Hyundai shipbuilder to develop business model using hydrogen and ammonia SEOUL -- The Hyundai shipbuilding group joined hands with Saudi Aramco to develop a business model using hydrogen and ammonia as tightened international regulations require eco-friendly vessels. The partnership came amid South Korea's concerted push for a hydrogen ecosystem and carbon neutrality, which refers to achieving net-zero carbon dioxide emissions. Hyundai Heavy Industries Holdings signed a memorandum of understanding on March 3 with 2021-03-03
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  Hancom acquires drone technology startup Awesome Tech SEOUL -- South Korea's comprehensive information technology group Hancom has acquired Awesome Tech, a domestic developer of special unmanned aerial vehicles such as smart parachutes and paragliders, in a bid to beef up its drone business and create a new value chain using drone technologies. Awesome Tech also develops drone battery management systems and special-purpose drones. "We will lead South Korea's domestic drone market through continu 2021-03-03
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  Hyundai auto group forges hydrogen alliance with SK Group Hyundai auto group chairman Chung Eui-sun (L) and SK Group chairman Chey Tae-won attend a hydrogen conference in the western port city of Incheon on March 2. SEOUL -- South Korea's Hyundai auto group forged a hydrogen alliance with SK Group and agreed to push for a CEO consultative body for cooperation in the establishment of a hydrogen ecosystem together with POSCO. The alliance came on the sidelines of a hydrogen conference chaired by Prime Minister Chung Sye 2021-03-02
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  LG Innotek develops world's first car module using Wi-Fi 6E technology SEOUL -- LG Innotek has developed a new module applied with next-generation Wi-Fi technology that allows passengers to enjoy movies and games on smartphones by connecting them to car displays, or update software such as navigation conveniently. Through commercialization in 2022, the company aims to pursue global joint marketing with Infineon Technologies AG, a German semiconductor manufacturer that supplies Wi-Fi 6E chips for vehicles. Wi-Fi 6E identifies W 2021-03-02
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  LG Electronics' joint venture with Canada's Magna awaits approval by shareholders in March SEOUL -- LG Electronics' proposal to split its electric vehicle powertrain business for the establishment of a joint venture with Canada's mobility technology company Magna International requires endorsement at a meeting of shareholders in March. If approved, LG will launch the joint venture based in the western port city of Incheon in July. The shareholders' meeting is to be held on March 24. In December 2020, LG and Magna agreed to establi 2021-02-26
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  Naver and Korean Air join hands to interlink services SEOUL -- South Korea's top web portal operator Naver and Korean Air joined hands to interlink their services that would provide convenience and entertainment for customers. Naver will utilize artificial intelligence-based technologies and platforms to help customers with ticket reservation, check-in and boarding. Naver said in a statement that the company signed a memorandum of understanding on February 24 with Korean Air to interlink services and platf 2021-02-25
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  Hyosung Heavy localizes medium-voltage direct current transmission system SEOUL -- Hyosung Heavy Industries, an electrical power equipment manufacturer in South Korea, has localized a medium-voltage direct current transmission and distribution system, which is considered as an option for enhancing transfer capacity and providing increased power quality at distribution networks. At lower voltage and power levels, the distribution of medium-voltage direct current (MVDC) has been proposed for offshore wind farms. The ne 2021-02-25
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  S. Korea to share know-how of biodegradable fishing net production with Kuwait SEOUL -- South Korea will share know-how in biodegradable fishing net production with Kuwait to help the Middle Eastern country manufacture nets that can contribute to preventing marine pollution and ghost fishing, an aquatic phenomenon in which animals get caught by nylon nets that were abandoned or lost. Ghost fishing by "ghost nets," abandoned or lost fishnets made of nylon, damage fish stock and vessels. Sometimes divers get caught up in ghost nets an 2021-02-25