Latest News

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  LG Chem's lightweight plastic material used as exterior part of Mitsubishi vehicles SEOUL -- A lightweight plastic component developed by LG Chem, the chemical unit of South Korea's LG Group, was used as an exterior part of vehicles made by Mitsubishi Motors, one of Japan's largest car makers. The new material which is about 8.8 pounds lighter than steel material can improve fuel efficiency and reduce carbon emissions. The plastic material called "LUCON TX5007" was used in the front fender of Mitsubishi Motors. Front fenders located on the side o 2023-01-10
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  Shipbuilders suffer acute manpower shortage SEOUL -- South Korean shipbuilders are suffering from an acute shortage of workforce when they already secured orders of vessels to be constructed in the next three years. The shortage has been caused not only by brisk orders, but also by negative factors such as low wages and difficult working conditions, according to industry and labor experts. They pointed out that more and more shipbuilding workers have quit their job and moved to other workplaces because their wages contin 2023-01-10
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  Broadcom offers fund worth $15.8 million to voluntarily correct unfair practices SEOUL -- Broadcom Inc., a U.S. chipmaker, has offered to set up a 20-billion-won ($15.8-million) fund as part of voluntary measures to correct its alleged unfair business practices, the Korea Fair Trade Commission (KFTC) said on January 9. The proposal is seen as a move by Broadcom to avert any penalty from the antitrust regulator, or criminal charges for allegedly violating competition laws here in Korea. The KFTC said that it has been investigating allegations that the Americ 2023-01-10
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  [CES 2023] Hyundai shipbuilding group's holding company partners with Estonian SOFC manufacturer to develop fuel cells for ships SEOUL -- Korea Shipbuilding & Offshore Engineering, the holding company of Hyundai shipbuilding group, has partnered with Elcogen, a solid oxide fuel cells manufacturer in Estonia, to develop fuel cells for vessels and power generation. The two companies will also work with a German-based applied science research institute specializing in energy storage and fuel cell systems. Solid oxide fuel cells (SOFC) are electrochemical conversion devices that produce electricity directly 2023-01-10
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  Sales of pet food items of Shinsegae's online shopping mall increase 30 percent on-year SEOUL -- Sales of pet food items at SSG.com, an online shopping mall operator run by South Korea's retail giant Shinsegae, significantly increased between January 2022 and January 2023, compared to a year ago. The online ecommerce operator said dog pads which are put on the floor when dogs defecate were best-selling products at its pet product shopping mall called "Molly's SSG." According to data released by SSG.com, dog pads were the most popular item as of Janua 2023-01-09
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  [CES 2023] Lululab teams up with digital health management company Hancom Care Link to develop AI skincare analysis platform LAS VEGAS -- Lululab, an artificial intelligence-based healthcare analysis company in South Korea, has partnered with Hancom Care Link, a digital healthcare platform operator specializing in gene analysis, to develop a smart skincare analysis platform. The platform with various skin data with patients' different physical features will be provided to medical centers associated with Hancom Care Link. Data released by market research firm Global Data showed that the South Korean s 2023-01-09
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  Korea to standardize core technologies such as self-driving, AI, digital transition SEOUL -- The South Korean government has decided to push for standardization of new core technologies such as self-driving, artificial intelligence (AI), and digital transition. The Ministry of Trade, Industry and Energy said on January 9 that it will step up cooperation with the Korean Agency for Technology and Standards (KATS) in standardizing the country’s new technologies as part of efforts to explore new markets and boost exports. The KATS, aligned with the ministry, 2023-01-09
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  Manufacturing industry leads economic slump: KDI SEOUL -- South Korea's manufacturing sector is losing steam in the face of sluggish exports affected by a worldwide economic downturn, according to the Korea Development Institute (KDI). The state-funded think tank said on January 8 that the country has entered the phase of an economic slowdown amid sluggish overseas shipments of Korean products. It added that the manufacturing industry is taking the brunt of the downturn. Falling exports of semiconductors, the country' 2023-01-09
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  LG Electronics suffers earnings shock in fourth quarter amid global economic slowdown SEOUL -- LG Electronics, South Korea’s leading home appliance company, said on January 6 that its operating profit plunged 91.2 percent to 65.5 billion won ($51.6 million) year-on-year in the fourth quarter of last year amid a global economic slowdown. The company said that its profitability deteriorated due to sluggish demand, soaring prices of raw materials, and higher costs of distribution and marketing, despite a relatively strong performance in LG’s premium home ap 2023-01-09
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  Naver adopts disaster damage assessment feature to elderly care call service SEOUL -- South Korea's web service giant Naver has adopted a disaster damage assessment feature to its elderly care call service. Naver's artificial intelligence-based assistants will make their routine phone calls to elderlies and check up on them by starting a natural conversation. AI assistants will ask how old people are coping with disastrous situations. The number of single-person households has been rapidly increasing in South Korea with a population of about 52 mill 2023-01-09
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  ​Fresheasy partners with supermarket chain Emart Everyday to develop meal kit products SEOUL -- Targeting the rapidly growing domestic meal kit market, South Korea's top meal kit maker Fresheasy partnered with a supermarket chain affiliated with Emart, the megastore wing of South Korea's retail conglomerate Shinsegae, to develop new products that can replace home meals. The meal kit company will supply products to the supermarket operator with some 260 stores nationwide. Meal kits, also known as home meal replacement (HMR) products, are convenient heat-and-ea 2023-01-09
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  Tmap Mobility to provide Volvo's new EV with HD map system and driver assistant system SEOUL -- Tmap Mobility, a smart mobility solution wing of South Korea's SK Group, will provide Volvo's new electric vehicle EX90 with a self-developed high-definition map and advanced driver assistant system. The autonomous driving technology solutions will help Volvo's EV safely navigate its way around roads in South Korea. A high-definition (HD) map is a highly accurate map that contains just about every detail which is not normally provided by ordinary maps. The digi 2023-01-09
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  ​[CES 2023] HL Klemove partners with Sonatus to develop next-gen electrical component for connected vehicles LAS VEGAS -- HL Klemove, a self-driving solution wing of South Korea's Halla Group, partnered with Sonatus, an American vehicle and cloud solution developer, to cooperate in the development of electrical components and software for next-generation connected vehicles. Sonatus is a California-based vehicle technology solution company that builds solutions for software-defined vehicles that add functions, manage operations, and enable new features primarily or entirely through sof 2023-01-08
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  [CES 2023] KSOE signs cooperation agreement with ABS to develop autonomous commercial vessels LAS VEGAS -- Korea Shipbuilding & Offshore Engineering, the holding company of Hyundai shipbuilding group, signed a cooperation agreement with the American Bureau of Shipbuilding to jointly develop and demonstrate artificial intelligence-based autonomous “unmanned” commercial vessels. Backed by the accelerated speed of AI-based smart vessel development, Avicus, the autonomous vessel development wing of HD Hyundai, the world’s top shipbuilder formerly known 2023-01-08
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  [CES 2023] SK ecoplant partners with Plug and Play Ventures to jointly develop eco-friendly businesses LAS VEGAS -- SK ecoplant, an environmental and energy solution provider affiliated with South Korea's SK Group, has joined hands with Plug and Play Ventures, an international early-stage venture capital, to cooperate in the development and investment of new eco-friendly businesses. 2022 has been a busy year for the South Korean environmental and energy solution provider. SK ecoplant partnered with a handful of companies across the globe to expand its business areas into vario 2023-01-08
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  ​[CES 2023] SK earthon reveals blueprint for becomeing leader in carbon capture & storage industry LAS VEGAS -- SK earthon, the eco-friendly energy business wing of South Korea's SK Group, has revealed the company’s blueprint to become an industry leader in the carbon capture and storage sector at the Consumer Electronics Show held in Las Vegas. The carbon capture and storage (CCS) technique uses special equipment to collect carbon dioxide created after burning fossil fuels or biomass before it enters the atmosphere. Using CCS, up to about 70 percent of carbon is c 2023-01-07
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  [CES 2023] LG Innotek showcases autonomous driving technology at CES LAS VEGAS -- LG Innotek, an electric component maker affiliated with South Korea’s LG Group, showcased the company’s top-notch autonomous driving technologies at the Consumer Electronics Show, an annual technology exhibition held in Las Vegas, for the first time. While the Consumer Electronics Show (CES) mainly focuses on electronics including smart devices and home appliances, the venue is also the favorite of carmakers and component manufacturers who wish to boast the 2023-01-07
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  [CES 2023] SKT simulates urban air mobility flight using VR system at CES LAS VEGAS -- SKT, South Korea’s largest mobile carrier, has mesmerized visitors to the Consumer Electronics Show, an annual electronics exhibition held in Las Vegas, through a virtual reality system that can simulate the flight of urban air mobility vehicles. South Korea launched a public-private consultative body called "Urban Air Mobility Team Korea" was launched in 2020 to commercialize flying taxis in Seoul by 2025 under a government roadmap that will enact a 2023-01-07
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  Super rookie girl band NewJeans to mesmerize fans using Multiview live-streaming technology SEOUL -- Using Multiview technology, which enables fans to choose different angles of a concert stage in real-time, South Korea's top web portal service Naver will livestream a performance by NewJeans, a super rookie girl group regarded as one of the most loved K-pop rookie bands in 2022. Viewers can also zoom in on their favorite member while enjoying the concert. Naver said in a statement that the five-member band's performance will be live broadcast on the company's 2023-01-06
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  [CES 2023] LG Electronics to demonstrate smart home platform using various home appliances at CES SEOUL -- At the Consumer Electronic Show, an annual electronics show held in Las Vegas, LG Electronics will demonstrate whether its smart platform can control home appliances created by other companies. Through the platform equipped with voice control and artificial intelligence technology, the company aims to upgrade the connectivity between products of many different brands so that consumers can conveniently use home appliances. The artificial intelligence (AI) platform called Th 2023-01-06