Business
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SK on partners with KAIST to kick-start incubation program for battery researchers
SEOUL -- SK on, the batter-making wing of South Korea's SK Group, has partnered with a prominent state research institute to kick-start an incubation program designed to nurture battery researchers. When postgraduates finish their battery specialist course at the institute, they will be hired by SK on to continue their research. Currently, it has become a trend among major South Korean battery makers such as SK on, Samsung SDI, and LG Chem to partner with prominent state techno
January 18, 2023 -
S. Korea and Vietnam open technology research center in Hanoi
SEOUL -- South Korea and Vietnam held a ribbon-cutting ceremony for the Vietnam-Korea Institute of Science and Technology (VKIST) in the Vietnamese capital of Hanoi on January 17. The VKIST is one of Vietnam’s largest research and development (R&D) centers which has been under construction with South Korea’s official development assistance (ODA) worth $70 million since 2014. The dedication ceremony was held at Hoa Lac Hi-tech Park in Hanoi with some 150 dignitar
January 18, 2023 -
Medytox becomes first S. Korean biopharmaceutical firm to build botulinum toxin factory in UAE
SEOUL -- Medytox, a Seoul-based botulinum toxin producer, will become the first South Korean company to build a manufacturing facility for botulinum toxin products in the United Arab Emirates (UAE). The biopharmaceutical company aims to secure its foothold in the Middle Eastern market. The decision on the construction of the factory was made while company CEO Jung Hyun-ho was accompanying South Korean President Yoon Suk-yeol who was on a four-day state visit from January 14
January 17, 2023 -
Korean, UAE firms sign contracts, MOUs worth $6.1 billion
SEOUL -- Domestic companies are vying to strike a deal with United Arab Emirates’ firms after the UAE promised to invest $30 billion (about 37 trillion won) in South Korea. On January 16, the Ministry of Trade, Industry and Energy held a Korea-UAE business forum in Abu Dhabi to help South Korean corporations look for UAE partners as part of efforts to increase exports to the Middle Eastern country and explore business opportunities there. The business forum came after Pre
January 17, 2023 -
CMG Pharmaceutical acquires animal nutritional supplement developer targeting pet healthcare market
SEOUL -- CMG Pharmaceutical, a unit of South Korea's CHA biomedical group, will make a foray into the pet nutrition supplement market by acquiring ING Medix, a domestic animal nutritional supplement provider. The pharmaceutical company's distribution network will be used to sell various types of products such as softly chewable supplements. The number of South Koreans who own pets have consistently increased. When the first wave of the coronavirus pandemic swept across the
January 17, 2023 -
Seoul to launch metaverse-based counseling services for students struggling in school
SEOUL -- A metaverse-based counseling platform will be adopted in Seoul to help young students maintain their composure while facing various types of struggles such as academic concerns and friendship problems. Without revealing their faces, students can communicate with teachers using avatars capable of recognizing different emotions. Amid the coronavirus pandemic, the number of young people feeling positive emotions has significantly decreased. In a 2021 survey of 862 people aged
January 16, 2023 -
Foreign investors become net buyers this month, leading Korean stock market
SEOUL -- Foreign investors have become net buyers on the main Seoul stock exchange this month, ramping up share prices. According to the Korea Exchange (KRX), foreigners’ net purchase was estimated at 2.88 trillion won ($2.33 billion) between January 2 and 13. The net buying trend was in contrast to their net selling of 1.69 trillion won last month, boosting the benchmark KOSPI by 6.7 percent from 2,236.40 on December 29 to 2,386.09 on January 13. Foreign portfolio in
January 16, 2023 -
UAE decides to invest $30 billion in South Korea
SEOUL -- The United Arab Emirates (UAE) has decided to invest $30 billion (about 37 trillion won) in South Korea’s nuclear power, energy and defense sectors, the presidential office said on January 15. The decision came during a summit between President Yoon Suk-yeol and his UAE counterpart Mohamed bin Zayed Al Nahyan in Abu Dhabi. The office quoted the UAE president as telling Yoon that the Middle Eastern country has made the investment decision with confidence in the
January 16, 2023 -
Korea-Singapore digital partnership pact to take effect on January 14
SEOUL -- The bilateral Digital Partnership Agreement (DPA) between South Korea and Singapore will take effect on January 14, the Ministry of Trade, Industry and Energy said. The implementation of the agreement comes after the two countries exchanged documents stating that each state has completed the due process of approving the pact. In November, Korea and Singapore signed the DPA, a trade pact which is aimed at stepping up cooperation in the field of digital trade and industry.
January 13, 2023 -
Lotte Himart to establish EV charging infrastructure in electronics stores' parking lots
SEOUL -- Lotte Himart, a South Korean retailer of electronic goods, has teamed up with domestic electric vehicle charger manufacturer Jungang Control to establish EV charging infrastructure in parking lots at its electronics stores. The retailer has some 400 stores nationwide. South Korea is trying hard to achieve net-zero carbon dioxide emissions by 2050 by promoting the use of renewable energy and clean fuels. As of the third quarter of 2022, about 340,700 EVs were registered in
January 13, 2023
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Top security officials of South Korea, US, Japan discuss NK troop deployment to Russia
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Veteran actress Kim Soo-mi dies at 75
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VISUALS: Extreme sports festival kicks off at Gwanghwamun
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South Korea, U.S. defense chiefs to hold talks in Washington
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North Korean troops in Russia are Moscow's 'business,' Putin says
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LG Electronics heat pump to win innovation award at US expo
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PHOTOS: Korea observes Dokdo Day
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Hyundai Mobis posts 31.6% jump in Q3 operating profit
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Old movies make comeback to theaters with nostalgic appeal
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Cyclonic storm makes landfall on eastern Indian coast