Latest News

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  S. Korea's total credit card transaction reaches record high during pandemic SEOUL -- Money spent via online credit card transactions in South Korea rose 25 percent from a year ago to hit a record high of 116.3 trillion won ($102.7 billion) in 2020 thanks to a surge in home shoppers who have been grounded by a COVID-19 pandemic. According to the Bank of Korea, a large share of non-face-to-face transactions was made through ecommerce platforms such as online shopping malls. Data released by the Korea Information Society Development Institut 2021-03-17
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  Naver expands clout in online and offline markets thru tie-up with Shinsegae SEOUL -- As a top web portal service operator and IT company, Naver accelerated the expansion of its business scope into online and offline markets through a strategic alliance with South Korea's retail giant Shinsegae Group. The tie-up came after Coupang, an e-commerce giant based in South Korea, made its successful debut on the New York Stock Exchange. In a regulatory filing on March 16, Naver disclosed a stock swap valued at 250 billion won ($221 million) 2021-03-17
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  [FOCUS] SK Innovation opens new broadside at LG after Volkswagen's switch in battery portfolio SEOUL -- SK Innovation, the battery-making wing of South Korea's SK Group, blasted LG Energy Solution for harboring ulterior intentions to oust its domestic rival from the U.S. market and establish its exclusive position through lawsuits. The new broadside came after their European client, Volkswagen, unveiled an eventual switch to a new type of battery for electric vehicles. SK Innovation (SKI) has been locked in a prolonged legal battle with LG Energy Solution ( 2021-03-16
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  Researchers develop high-capacity memory-over-storage technology for supercomputers SEOUL -- State researchers have developed a memory-over-storage technology that integrates the characteristics of both non-volatile memory and ultra-low latency solid-state drive. The integrated memory technology that can provide large-capacity storage and the fast processing speed of volatile memory, known as dynamic random-access memory, will be ideal for facilities such as data centers and supercomputers. While volatile dynamic random access memory (DRAM) off 2021-03-16
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  Hyosung's Germany subsidiary seals deal to ship airbags for Amazon’s self-driving robotaxi SEOUL -- A German subsidiary of Hyosung Advanced Materials, an advanced materials production company in South Korea, will ship airbags for a robotaxi unveiled by Amazon’s self-driving vehicle company, Zoox. Along with an array of cameras and sensors, the self-driving vehicle will be equipped with an airbag system on all four seats. Hyosung Advanced Materials said that its subsidiary, GST Global Gmb based in Germany, has sealed a contra 2021-03-16
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  Hyundai Elevator unleashes new contactless button capable of entering target floor without pressing SEOUL -- Hyundai Elevator, a leading elevator maker in South Korea, unveiled a new contactless button called "Air Touch" that allows users to enter the target floor without pressing the button by using infrared sensor technology. Customers can go to the floor they want just by putting their fingers in front of the button. After completing a reliability test, the company will apply contactless buttons to actual sites from the end of March. Ex 2021-03-16
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  SK Telecom teams up with SingTel to run cloud game on 5G MEC platforms SEOUL -- SK Telecom (SKT), a top mobile carrier in South Korea, has teamed up with Singapore's SingTel to simultaneously run a cloud game on their 5G-based mobile edge computing (MEC) platforms. In an effort to speed up the use of 5G services worldwide, SKT has played a leading role in establishing standards for borderless MEC platforms. This year, SKT said it would implement a function that freely uploads and downloads 5G apps on 5G MEC hubs in partner 2021-03-16
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  KT commercializes 5G network recovery control tower system for isolated regions SEOUL -- South Korea's largest telecom company KT has commercialized an artificial intelligence-based 5G microwave network recovery control tower system that can remotely detect network malfunctions. By using this system, technicians do not have to visit isolated regions such as islands and mountains every time a network malfunction takes place. Fixing a faulty network in an old-fashioned way involves a process in which workers visit malfunctioning network no 2021-03-16
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  Samsung Display expand presence in gaming markets with OLED displays SEOUL -- Samsung Display, a major flat panel maker in South Korea, unveiled a strategy to aggressively expand its presence in gaming markets with organic light-emitting diode (OLED) displays optimized for high-resolution gaming content, saying that a COVID-19 pandemic has caused exponential growth of the gaming industry, with end-product manufacturers scrambling to launch gaming devices with high-quality mobile displays. Samsung Display has supplied 15.6 2021-03-16
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  Canada's SaskTel selects Samsung's hardware and software for end-to-end 5G solution. SEOUL -- SaskTel, an ICT provider in Canada, has selected Samsung Electronics as the sole vendor to provide hardware, software and associated expertise for the deployment of an end-to-end 5G solution. SaskTel based in Saskatchewan, a Canadian province that borders the United States, used to be a client of LET equipment from China's Huawei. Samsung said it would supply SaskTel with its 4G/5G radio access network (RAN) and core. A core network 2021-03-16
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  Incheon International Airport to take stern legal action against drone flyers SEOUL -- South Korea's main gateway in the western port city of Incheon will take stern legal action against those who fly drones around it to prevent disastrous accidents. The area around Incheon International Airport is a no-fly zone for drones, but drone operators have used hidden spots to avoid a crackdown. Some 80 cases of illegal drone flights were spotted near the airport from September 2020 to February 2021. Incheon International Airport is located in Ye 2021-03-16
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  ​S. Korea demonstrates hydrogen fuel cell-powered industrial equipment SEOUL -- South Korea will demonstrate hydrogen fuel cell-powered industrial equipment including forklifts and unmanned loaders at a regulation-free industrial complex in the southern port of Ulsan. New industrial machines have the potential of increasing work efficiency at logistics warehouses and indoor facilities. Ulsan was selected as South Korea's testing ground for hydrogen-powered mobility services in 2019. The port city produ 2021-03-15
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  National park service uses AI-based analytics system to detect dead trees in subalpine area SEOUL --South Korea's national park management body has partnered with domestic companies to utilize artificial intelligence and high-definition aerial photographs to monitor colonies of dead trees in Mount Chiri's subalpine areas. The monitoring tool can help mountain watchers safely monitor the ecological systems of hard-to-reach places remotely. According to the Ministry of Environment, climate change has accelerated phenomena 2021-03-15
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  Kia's EV6 electric vehicle boasts distinctive crossover-inspired design SEOUL -- EV6, a new electric vehicle designed by Kia, a carmaker affiliated with South Korea's Hyundai auto group, boasts a distinctive crossover-inspired design and a curved high-definition audiovisual and navigation screen. The new model will make its world premiere in March 2021 at a special online event. EV6 shared E-GMP, a dedicated battery platform used for IONIQ 5, a utility vehicle unveiled by Hyundai in February. E-GMP is the auto group's bat 2021-03-15
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  KT launches bicycle-sharing service in Seoul's satellite city SEOUL -- South Korea's largest telecom company KT has launched a bicycle-sharing service in cooperation with a domestic mobility service company, reflecting the growing popularity of such eco-friendly services in Seoul and other cities. "Ttareungi," a bicycle-sharing public service launched by Seoul City in 2015, is the first and most successful mobility-sharing business model in South Korea. About 37,000 bicycles were used more than 23.7 million time 2021-03-15
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  Israel's Elbit joins hands with KAI to develop new unmanned aerial vehicle This picture captured from KAI's website shows an RQ-101 reconnaissance UAV. SEOUL -- Elbit Systems, an Israeli defense electronics company, joined hands with Korea Aerospace Industries (KAI), the sole aircraft maker in South Korea, to push for the development of new unmanned aerial vehicles and joint marketing in South Korea and abroad. Since it produced a reconnaissance UAV model in 2002, KAI has tried to develop various types of UAVs. 2021-03-15
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  Viral YouTube video spotlights obscure K-pop girl band Brave Girls to become top star SEOUL -- Brave Girls, an obscure K-pop girl band that has been almost forgotten in the major music scene, was unexpectedly put on a road to fame and became a star overnight after a YouTube video showing online comments for their dance performances went viral. The video was uploaded when band members lost their momentum to maintain team activities any longer and started discussing their dismantlement. Since Brave Girls debuted as a five-member band in 201 2021-03-12
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  Plugsurfing founder appointed as CEO of LG's joint venture with Swiss company SEOUL -- Adam Woolway, the founder of Plugsurfing, an app empowering electric vehicle drivers to find and pay for charging throughout Europe, has been named as CEO of Alluto, a joint venture established by South Korea's LG Electronics to develop upgraded automotive solutions including digital cockpits. Alluto headquarters in Santa Clara, California, will be officially launched on March 15. LG Electronics said that the joint venture with Luxoft, a Sw 2021-03-12
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  Daewoo shipyard wins $966 mln orders for ten VLCCs installed with dual-fuel propulsion engines. SEOUL -- Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, has secured orders worth 1.09 trillion won ($966 million) from three unidentified clients in North American, Europe and Asia to build ten 300,000-ton crude carriers installed with dual-fuel propulsion engines. Ships will be delivered sequentially by the end of September 2023. Daewoo Shipbuilding & Marine Engineering (DSME) said in a 2021-03-12
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  Misfuelling prevention service wins state approval for demonstration SEOUL -- A pilot service to prevent misfuelling at gas stations has won state approval. When a vehicle enters a gas station, an on-site vehicle identification system will read its plate number using sensors to activate the right fuel pump. Government data showed about 150 misfuelling cases were reported every year in South Korea. If gasoline is put into a diesel-fueled vehicle or vice versa, the engine could be critically damaged. Gasoline and diesel have different 2021-03-12