Business
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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
January 10, 2023 -
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
January 10, 2023 -
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
January 10, 2023 -
[CES 2023] HD Hyundai's holding company partners with Estonian SOFC manufacturer to develop fuel cells for ships
SEOUL -- Korea Shipbuilding & Offshore Engineering, the holding company of HD Hyundai, 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) generate electrical energy by converting chemical energy through an electrochemical proce
January 10, 2023 -
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
January 9, 2023 -
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,
January 9, 2023 -
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'
January 9, 2023 -
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
January 9, 2023 -
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
January 9, 2023 -
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
January 9, 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