Latest News

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  Busan presents itself as suitable UN partner to build prototype of sustainable floating city SEOUL -- Busan, a main maritime gateway in South Korea, hopes to participate in a United Nations project to build sustainable floating cities which have been presented as a solution to ensure climate resilience. The port city was enthusiastic, saying it would seek to conclude a partnership agreement early with UN-Habitat, a UN agency responsible for sustainable urban development. In a video conference with Victor Kisob, the deputy executive director of UN-H 2021-08-06
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  Hyundai shipyard wins $577 mln order from U.S. oil company to build floating production system SEOUL -- South Korea's Hyundai shipbuilding group has secured an order worth 659 billion won ($577 million) from an unnamed U.S. oil company to build a semi-submersible floating production system for oil and gas production. The system will be installed in an oil field 300 kilometers (186 miles) south of Louisiana in the second half of 2024. Korea Shipbuilding & Offshore Engineering (KSOE) affiliated with the shipbu 2021-08-06
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  President Moon designates vaccine as strategic industry to receive full government support SEOUL -- President Moon Jae-in designated vaccines as a strategic industry along with semiconductors and batteries, saying South Korea would become one of the world's top five vaccine hubs with an injection of some 2.2 trillion won ($1.92 billion) by 2025. Moon emphasized the importance of securing vaccine sovereignty through the quick development of homemade vaccines and said that domestic vaccine companies will be able to conduct phase 3 clinical trials in 2021-08-05
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  Economic groups regard S. Korea's energy transition roadmap as excessive SEOUL -- A draft road map presented by a special presidential committee contained a broad national goal to achieve net-zero carbon dioxide emissions by 2050 in response to a global agenda for fighting climate change. Economic groups acknowledged the need for specific action plans but opposed any radical steps that could undermine the competitiveness of South Korean industries. The committee chaired by Yun Sun-jin, a Seoul National University professor, serves a 2021-08-05
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  S. Korea's defense ministry works with U.S. to fend off cyber threats SEOUL -- U.S. and South Korean defense ministries have agreed to strengthen their coordination against cyber threats and share information in their first meeting of the virtual ICT cooperation committee. They would hold consultations every year to discuss cooperation in information and communication technology. At the meeting held on August 4, the two allies agreed to strengthen their coordination in various aspects such as a weapons system to maintain a solid join 2021-08-05
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  Kumho Petrochemical uses rice bran extract to make eco-friendly synthetic rubber SEOUL -- In an effort to strengthen its portfolio in the synthetic rubber business, Kumho Petrochemical will produce an eco-friendly synthetic rubber complex by applying bio-materials made from rice bran extract. The complex containing bio-silica will be supplied to domestic and foreign tire companies and shoemakers. Silica is a raw material for synthetic rubber. Kumho Petrochemical would extract the natural silica contained in the ash of carbonize 2021-08-05
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  SK Chemicals partners with mineral water company to recycle PET bottles into plastic raw materials SEOUL -- SK Chemicals, a unit of South Korea's third-largest conglomerate SK Group, tied up with a mineral water company based on the southern resort island of Jeju to recycle used polyethylene terephthalate bottles into plastic raw materials and cooperate in developing an eco-friendly bottle using chemical recycling. Unlike physical recycling that uses post-consumer recycled (PCR) materials by grinding collected polyethylene terephthalate (PET) bottl 2021-08-05
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  Researchers find clues to identification of high-temperature superconducting mechanism SEOUL -- The electronic structure of liquid metals is a theoretical model devised in the late 1960s. However, no researcher has experimentally demonstrated their electronic structure. A South Korean research team has devised a unique method to understand the phenomenon and find a "pseudogap" in a crystalline insulator doped by disordered metals. In a government-funded project, a research team led by Kim Keun-su, a professor of 2021-08-05
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  DAPA endorses scheme to build next-generation frigates with improved anti-aircraft detection capabilities SEOUL -- South Korea's defense procurement agency endorsed a military scheme to go ahead with the home-made construction of next-generation frigates with improved anti-aircraft detection capabilities and viability. The project requires about 3.51 trillion won ($3.07 billion) from 2023 to 2032. The Defense Acquisition Program Administration (DAPA), a state arms procurement agency controlled by the defense ministry, said it has appr 2021-08-04
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  Jeon So-mi’s 'DUMB DUMB' surpasses 15 mln views in less than two days SEOUL -- Former I.O.I member Jeon So-mi’s third single music video has garnered over 15 million views on YouTube in less than 48 hours of its release. DUMB DUMB racked up over 10 million views in less than 24 hours of its release. As of 2:45 p.m. Wednesday, the music video has garnered more than 15 million views. The single has also gained popularity abroad, making it into the top 10 in ten countries including Indonesia, Thailand and Malaysia. U 2021-08-04
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  Hyundai auto group credited with bringing archers to Olympic fame SEOUL -- The outstanding performance of South Korean archers who have dominated the Olympic competition and international champions for decades was attributable to a scientific training program and the transparent selection of a national team, coupled with full and dedicated support from their rich corporate sponsor. South Korea has dominated archery since the modern archery competition was introduced in 1972, collecting 27 gold medals including four in Tokyo. Sinc 2021-08-04
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  Hip-hop label AOMG works with LGU+ to hold special non-face-to-face XR concert SEOUL -- A South Korean hip-hop label will hold a special non-face-to-face extended reality (XR) concert that would allow audiences to enjoy artists' realistic performances as if they were in virtual worlds like scenes in movies with technology support from LG Uplus, a mobile carrier that leads an international 5G XR alliance. XR encompasses a wide spectrum of hardware and software that enable content creation for virtual reality, mixed reality and cinematic re 2021-08-04
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  LG Chem's bio-balanced super-absorbent polymer shipped to client in Jordan SEOUL -- The first shipment of bio-balanced superabsorbent polymer produced by LG Chem, a chemical unit of South Korea's LG Group, went to Baby Life, a client based in Jordan. The product based on bio-materials such as renewable waste oil and palm by-products would be used for baby diapers. Superabsorbent polymer (SAP), known as slush powder, can absorb and retain extremely large amounts of a liquid relative to its own mass. The largest use of SAPs is found 2021-08-04
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  Celltrion ties up with U.S. biotech company TriLink to develop new mRNA vaccine platform SEOUL -- Celltrion, a South Korean biotech company known for the world's third COVID-19 antibody treatment, has tied up with TriLink BioTechnologies, a U.S. biotech company that provides gene therapy services to researchers, to develop a next-generation messenger RNA vaccine platform that can be applied to coronavirus variants. The San Diego-based company is a contract development & manufacturing organization (CDMO) helping life science leaders and inno 2021-08-04
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  Kakao's new webtoon service makes successful debut with dynamic teaser videos SEOUL -- A new webtoon service launched by Kakao Entertainment, a content and entertainment subsidiary of South Korea's web service company, made its successful debut in the domestic market, drawing attention by introducing dynamic teaser videos instead of thumbnails which are reduced-size versions of pictures or videos. Since its launch in South Korea on August 1, Kakao Webtoon achieved a turnover of one billion won ($871,339) in two days and posit 2021-08-03
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  JYP sets up subsidiary for global content distribution and new business development SEOUL -- JYP Entertainment, a major K-pop powerhouse in South Korea, will set up a subsidiary that serves as a strategic hub for advancing the global distribution of content, developing new businesses and enhancing the intellectual property of artists. JYP said the subsidiary named "JYP Three Sixty (JYP 360˚) is aimed at providing a wide range of innovative next-generation fan experiences, strengthening the global competitiveness of K-pop and ex 2021-08-03
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  Research center demonstrates beamforming for smooth 6G tecommunication in THz band SEOUL -- Broadband wireless transmission using Terahertz frequencies is a key transmission technology to achieve high transmission speed and support many 6G mobile telecommunication subscribers. A South Korean research center has succeeded in demonstrating a broadband beamforming solution that can address the reduction in communication distance due to the use of Terahertz frequencies. Terahertz (THz) is a unit of frequency defined as one trillion cycles per secon 2021-08-03
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  Netmarble diversifies game portfolio thru acquisition of social casino company SpinX SEOUL -- Netmarble, a major mobile game developer in South Korea, has set the stage for a diversified game portfolio needed to expand its global presence through a $2.19 billion deal to take over SpinX, a Hong Kong-based company that provides a social casino service where users can play popular casino games like roulette, video poker, slots, and blackjack without betting real money. In a regulatory filing on August 3, Netmarble said it would borrow some 1.78 2021-08-03
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  Attack drone capable of remote control grenade shooting selected for military testing SEOUL -- South Korea's military will test an attack drone capable of remote control shooting that uses an optical thermal imaging camera and laser, allowing soldiers to directly aim at targets within two kilometers and fire six 40mm grenades that use the explosive power of gunpowder and debris embedded in each shell. The Defense Acquisition Program Administration (DAPA), a state arms procurement agency controlled by t 2021-08-03
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  Naver invests $8.6 mln in online butcher’s shop SEOUL -- South Korea’s top web portal service operator Naver has made a strategic investment of 10 billion won ($8.6 million) in Jeongyookgak, an online butcher’s shop known for selling slaughtered pork in three or four days. The investment is aimed at strengthening the startup's fresh goods distribution capabilities. Jeongyookgak places more importance on taste than looks and utilizes special packaging techniques that can minimize the amoun 2021-08-02