Global EV battery firms to showcase new tech at 'InterBattery' exhibition in Seoul

SEOUL -- A total of 579 electric vehicle battery companies from 18 countries will participate in the InterBattery, an annual battery exhibition held in Seoul from March 6 to March 8. Exhibitors will showcase new battery-related technologies and products at the COEX Convention & Exhibition Center located in Gangnam District, the fashion and finance hub of Seoul. The annual battery event, organized by the Ministry of Trade, Industry and Energy, is one of the largest battery exhi

March 6, 2024

Aussie whiskies will be sold in Korean convenience stores

SEOUL -- South Korea's major convenience store chain, CU, announced the launch of "NED Whisky," a popular Australian brand, marking their entry into the affordable whisky market. Last year, CU saw success with the exclusive launch of "Rulett Premium Whisky" from India, priced under $23. The limited-edition bottles sold out within a week, with even the additional import batch disappearing within a month, totaling 5,000 bottles sold. This highlights th

March 6, 2024

LG Energy Solution launches battery swapping business for electric motorcycles

SEOUL -- In a move aimed at tapping into South Korea's delivery market, Kooroo, the in-house venture of battery manufacturer LG Energy Solution, has launched its electric motorcycle battery swapping station business. This service allows riders to swap batteries for fully charged ones in approximately 20 seconds, eliminating the need for time-consuming waits for charging. Despite their eco-friendly features, electric motorcycles have faced reluctance from delivery workers due t

March 5, 2024

Gmarket opens low-temp logistics center targeting one-day delivery service customers

SEOUL -- In an effort to gain a competitive edge in South Korea's ecommerce market dominated by Coupang, the South Korean counterpart of Amazon, major ecommerce platform Gmarket opened a low-temperature logistics center for fresh goods delivery service. Customers can now order fresh groceries through the ecommerce giant's overnight delivery service. Overnight and one-day delivery services garnered explosive popularity in South Korea during the pandemic. When people were

March 5, 2024

Kia reports 4.6% decrease in February sales

SEOUL -- Kia announced that it sold a total of 242,656 units in February 2024, marking a 4.6 percent decline compared to the same month last year. Domestically, Kia sold 44,076 units, while overseas sales amounted to 198,580 units this February. This reflects a 12. percent decrease domestically and a 2.8 percent decrease overseas compared to February 2023, resulting in an overall sales decline of 4.6 percent. The drop in domestic sales is attributed to a decrease in working day

March 4, 2024

S. Korea's pet care market grows 5.6% to $2.4 billion in 2023: market data

SEOUL -- South Korea's love for furry friends is showing no signs of slowing down. According to data released by global market analyst firm Euromonitor, the country's pet care market reached a staggering $2.45 billion in 2023, marking a 5.6 percent increase from the previous year. This impressive growth comes amidst a larger trend: the market has tripled in size since 2013, outpacing the global average of a 1.9-fold increase during the same period. Several factors are cont

March 4, 2024

Southern port city to demonstrate food drone delivery services for near-shore vessels and fishing areas

SEOUL -- The southern port city of Busan is set to showcase drone delivery services, aiming to transport food and essential items to vessels near the shoreline and individuals at popular fishing locations. This initiative seeks to promote the use of aerial delivery systems and enhance leisure experiences by providing greater convenience. In South Korea, where tension with North Korea persists, private drone operators face significant restrictions due to airspace regulations. Many

March 4, 2024

S. Korean cable firm replaces New York's outdated power grid using new technique

SEOUL -- South Korea's major power cable maker Taihan Cable & Solution has embarked on a groundbreaking project to replace New York's outdated power grid using an innovative cable-laying technique. This new method requires minimal space and equipment, making it particularly suitable for construction sites in bustling urban areas. In October 2023, Taihan secured a contract for the replacement of aging power cables linking New York's power grid with the John F. Kenne

March 4, 2024

Convenience store chain GS25 to roll out tomato pre-order sales to satisfy picky customers

SEOUL -- In a bid to satisfy picky customers, South Korea's major convenience store chain, GS25, is set to introduce a pre-order project for tomatoes. Under this initiative, the store chain's operator will accept orders from customers and deliver the fruits, cultivated in the southern port city of Busan, directly to their doorsteps. Additionally, any dissatisfied customers will receive a 100 percent refund. According to GS Retail, the operator of GS25, sales of fresh fruit

March 4, 2024

[MWC 24] KT partners with Amazon to co-develop generative AI and mobile services for enterprises

BARCELONA -- In a bid to compete with top global generative artificial intelligence service providers such as Google and OpenAI, South Korea's major telecom company KT has forged an alliance with Amazon Web Services, the cloud computing and internet server service wing of e-commerce giant Amazon. Generative AI is a type of AI that can create new content such as images, text, and music based on patterns it has studied through machine learning processes. Enterprises of all sizes

February 29, 2024