Business
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[CES 2023] Korea Seven works with VR content developer Caliverse to showcase metaverse convenience store at CES
SEOUL -- At the Consumer Electronics Show, a global tech event to be held on January 5 in Las Vegas, the South Korean operator of global convenience store franchise 7-Eleven will disclose a real-world-like metaverse store where users can experience various food items using avatars. In the virtual world created by VR content developer Caliverse, digital humans will show different responses and facial expressions depending on the taste of snacks and drinks. The metaverse is a virtual
January 2, 2023 -
Pulmuone releases plant-based canned ham using vegetable material extracted from soybeans
SEOUL -- Pulmuone, a food company based in Seoul, released an alternative meat-based canned ham using textured vegetable protein extracted from soybeans. Unlike regular canned ham products that contain sodium nitrite to prevent animal ingredients from being oxidized, the new plant-based meat did not use the chemical compound. South Korea's vegan meat market has been rapidly growing to meet demands of some 2 million vegans. According to data released by the Korea Agro-Fisheries
December 28, 2022 -
SK Energy forms alliance to commercialize one-stop hydrogen fuel-powered EV charging station
SEOUL -- South Korea's oil company SK Energy has partnered with three other companies to develop and commercialize an electric vehicle charging station that is powered by hydrogen fuel. The so-called urban-type hydrogen fuel power plants are designed to generate electricity using hydrogen and provide power to EV charging stations and nearby power grids. SK Energy is one of the largest oil companies in South Korea, but the petroleum product distributor had been diversifying its
December 28, 2022 -
LG Electronics builds ESS infrastructure in smart home appliance plant to store off-peak electricity
SEOUL -- LG Electronics has built an energy storage system (ESS) at a smart factory to store cheap off-peak electricity late in the evening to use power during peak hours to cut down electricity costs. During the night, the electricity cost is relatively lower than it is in the daytime. LG Electronics hopes to save 77.4 billion won ($61 million) for the next fifteen years through the ESS. An energy storage system (ESS) is an integrated system of secondary battery
December 27, 2022 -
CU convenience store develops on-site value-added tax refund system for foreign tourists
SEOUL -- South Korea's top convenience store franchise CU has developed an on-site tax refund system for foreign tourists. Using the system, tourists can receive tax refunds for purchases of more than 30,000 won ($23.6) and less than 500,000 won without having to carry their receipts to an international airport. Just about every product or service that is provided in South Korea includes a value-added tax (VAT) of 10 percent. Foreign tourists who paid more than 30,000 won at a
December 27, 2022 -
CKD Bio opens microbiome research center at university hospital to develop treatments for dementia
SEOUL -- To develop various treatments using microorganisms living in human bodies, CKD Bio, a pharmaceutical company in South Korea, has opened a microbiome research center at a university hospital in Seoul. The company will create a consortium to work on drugs for dementia, liver disease and inflammatory bowel disease. The microbiome is a cluster of all types of microscopic organisms that co-exist with humans such as bacteria, fungi, protozoa and viruses. Many of them live insid
December 23, 2022 -
Convenience store chain CU to build metaverse-based ecommerce platform
SEOUL -- BGF Retail, the operator of South Korea's top convenience store chain CU, will establish a metaverse-based ecommerce platform to enable users to receive actual products after purchasing items using avatars in the virtual space. Some 30 stores will be created on Jeff World, a metaverse platform where users can engage in shopping and many other leisure activities. "Consumers can receive items purchased through Jeff World through delivery or by visiting nearby offlin
December 23, 2022 -
Farm Hannong's biodegradable fertilizer approved by state as new technology
SEOUL -- Farm Hannong's photodecomposition fertilizer that slowly releases its composition during the breakdown was approved by the state as new technology. Farm Hannong is an agricultural technology subsidiary of LG Chem, South Korea's top chemical company. Slow-acting or slow-releasing fertilizers are coated with polymers to deliberately increase the time at which fertilizers are released into paddocks. However, the polymer coating makes fertilizers' lifespan more tha
December 22, 2022 -
KT hopes to secure corporate and government clients through metaverse-based conference platform
SEOUL -- South Korea's major telecom company KT aims to attract various state organizations and private companies using its metaverse platform which provides artificial intelligence-based virtual assistants and translation services. The platform called "KT Meta Lounge" also enables users to create customized virtual spaces suited for different meeting purposes such as social, casual, and company meetings. KT Meta Lounge is a virtual platform that consists of three bui
December 21, 2022 -
Hyundai Mobis works with Israeli startup to develop remote control tower system for autonomous driving
SEOUL -- To help mobility service operators control autonomous vehicles in cases of emergency, South Korean car parts maker Hyundai Mobis partnered with Ottopia, a software company in Israel, to develop a control tower solution that can remotely move unmanned mobility platforms or modify their routes through screens. Self-driving vehicles or autonomous robots operate based on data collected through sensors and cameras. Autonomous vehicles operate stably under ordinary circumstance
December 21, 2022
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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