Business
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LG Energy Solution partners with Australian lithium producer to secure EV raw material
SEOUL -- LG Energy Solution, the battery-making wing of South Korea's LG Group, has partnered with Australia's lithium producer WesCEF to receive lithium concentrate, a core raw material for electric vehicle batteries. The South Korean battery maker will secure up to 85,000 tons of lithium concentrate, enough for about 270,000 high-performance electric vehicles with a range of more than 500 kilometers (310.7 miles) on a single charge. Lithium concentrate serves as raw mat
February 14, 2024 -
S. Korea's EV adoption rate reaches 9.3% in 2023
SEOUL -- Data released by the Ministry of Land, Infrastructure and Transport revealed that approximately nine percent of newly purchased vehicles in South Korea in 2023 were electric vehicles. As of now, there are over 200,000 EV chargers installed across the country, indicating a ratio of two EVs for every charger. South Korea mandates that new buildings constructed after January 28, 2022, allocate at least five percent of their total parking spaces for EV chargers. Similarly, ol
February 13, 2024 -
S. Korean comics garner explosive popularity in Thailand: report
SEOUL -- Recent data released by South Korea's government body charged with governing cultural content showed that South Korean comics were especially popular among Thai consumers. The report showed that South Korean comics accounted for about 47 percent of the total comics consumption in Thailand, the highest rate among the nine countries, which include the United States, France, China, Japan, Indonesia, Viet Nam, Russia, and the United Arab Emirates. In a survey of 1,516 peo
February 13, 2024 -
Hyundai and Kia cars top maximum range test for EVs
SEOUL -- Three electric vehicle models released by Hyundai auto group have dominated a range evaluation test conducted by an American online automotive information company. Data released by the automotive website Edmunds on February 12 showed that Hyundai's Ioniq 6 rear-wheel-drive (RWD) model topped the list for the test for maximum electric vehicle range. This EV model recorded a maximum range of 1,396 kilometers (867 miles) with one hour of charging. Kia's EV6 RWD mo
February 13, 2024 -
SK On partners with US graphite company to prepare for Inflation Reduction Act
SEOUL -- SK On, the battery-making unit of South Korea's third-largest conglomerate SK Group, has partnered with Westwater Resources, a United States-based graphite producer, to secure natural graphite, one of essential materials for electric vehicle batteries. The two sides' partnership is in response to the U.S. government's Inflation Reduction Act. The inflation reduction act (IRA), which was signed into law by President Joe Biden in August 2022, offers tax credit
February 12, 2024 -
S. Korean defense industry secures $42 mln export deal from Middle East through online counseling
SEOUL -- South Korean companies secured an export deal worth about $42 million through online business counseling before presenting their solutions at a major defense exhibition in the Middle East. After the online consultation, the domestic firms took part in the defense event in Saudi Arabia, with more than 700 exhibitors from over 45 nations. According to KOTRA, a state-run trade promotion agency, 15 South Korean companies advised 24 Middle Eastern buyers ahead of the "Wor
February 12, 2024 -
Online apparel shopping mall operator to make foray into offline department stores and shopping complexes
SEOUL -- Musinsa, a leading South Korean online apparel store operator, has announced its expansion into offline retail as part of its strategic growth plans. The move aims to position the company for increased competition in the fashion industry, particularly against other affordable clothing brands, including sub-labels operated by major clothing companies. Established in 2003 as a small online fashion community, Musinsa has since evolved into a popular online shopping mall, gai
February 11, 2024 -
Exports of S. Korea's aircraft surpass $1 billion for first time in 2023
SEOUL -- Exports of South Korean aircraft soared 320.5 percent year-on-year to a record high of some $1 billion in 2023, state data showed. This marks the highest export figure since the development of the Buhwal, the first homemade aircraft crafted during the Korean War in 1953. According to data provided by the Korea International Trade Association (KITA) on February 10, South Korea's aircraft exports in 2023 totaled $1,010,000,000. Out of this sum, exports to Poland reached
February 10, 2024 -
Ice and snow vehicle equipment become popular in S. Korea due to frequent snow
SEOUL -- As South Korea experiences colder temperatures and more frequent snowfall compared to previous years, data released by major ecommerce platforms indicates a surge in the popularity of ice and snow equipment for vehicles. December 2023 saw the country's largest snowfall on record, with a maximum accumulation of 12.2 centimeters (4.8 inches), followed by continued snowfall throughout January. While main streets in Seoul are typically cleared of snow promptly to prevent it
February 9, 2024 -
Coupang takes top spot in S. Korean customer satisfaction for online shopping
SEOUL -- Coupang, the South Korean counterpart of global retail giant Amazon, took the first spot in a domestic customer satisfaction index for online shopping, beating the country's online shopping giant Naver. The satisfaction index was determined by multiple categories, including service quality, consumer experience, and how well the experience met customers' expectations. A total of five online shopping mall operators were involved. According to a survey of 1,500 South
February 8, 2024
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Samsung expands Galaxy AI language support to 20 languages
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Korean builders test robot delivery services at apartment complexes
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Activities spotted at North Korea's demolished inter-Korean road site
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Hyundai Motor reports drop in quarterly operating profit on warranty costs
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US expresses concern over North Korean troops in Russia
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LG Electronics Q3 profit falls despite record sales
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Myanmar rebels seize key rare earth mining hub, disrupting military junta's revenue
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Indian actor Anupam Tripathi senses surge in popularity after 'Squid Game'
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Trump's former chief of staff calls him 'fascist'
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LG CNS introduces ERP testing solution to Japan