Business
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LG Energy Solution records operating profit of $545.7 mln, up 40.1% year-on-year
SEOUL -- LG Energy Solution, the battery-making wing of South Korea's LG Group, estimated that its operating profit in the third quarter of 2023 was 731.2 billion won ($545.7 million), up 40.1 percent from a year ago. This is the highest record in the third quarter for the battery maker, which has strived to build supply chains in North America. LG Energy Solution (LGES) said on October 11 that its operating profit reached 731.2 billion won and sales increased to some 8.2 trillion
October 12, 2023 -
Prices of sugar and salt skyrocket by about 17% on-year in September 2023
SEOUL -- Prices of sugar and salt, the essential ingredients of food, have increased by about 17 percent on-year in September, showing the sharpest increase rate in 2023. The increase in the prices of sugar and salt could lead to increased prices of other products such as processed foods, drinks, and restaurant food menus. The price hike was caused by the increased import prices of raw sugar from countries such as Brazil, and Colombia and sudden. South Korea produces white and brown
October 11, 2023 -
Imports of alcoholic drinks increase by 54% in 4 yrs while exports increase by 2%: data
SEOUL -- Backed by the skyrocketing popularity of foreign alcoholic drinks among young consumers in their 20s and 30s, imports of liquors and alcoholic beverages have increased by 54 percent since 2018. Meanwhile, exports of South Korean products only increased by two percent in the same period. The consumption of whisky and other foreign-made alcoholic drinks has gained popularity among young consumers since the beginning of the COVID-19 pandemic in early 2019. The culture of "so
October 10, 2023 -
CJ Freshway to showcase smart restaurant with robot chef at food solution fair
SEOUL -- At a food solution fair in Seoul, the food material distribution wing of South Korea's conglomerate CJ Group will showcase a smart restaurant where visitors can enjoy fried chicken cooked by a robot chef. After the robot completes cooking, its human coworker will arrange and decorate the dish. A serving robot will deliver the completed dish to customers. The adoption of robot chefs is gradually gaining momentum in South Korea. In August 2021, domestic chicken franchis
October 10, 2023 -
Hyundai and Kia to adopt Tesla's EV-charging standard in US starting 4Q 2024
SEOUL -- Starting in the fourth quarter of 2024, all Hyundai and Kia electric vehicles released in the United States will be equipped with charger ports that match the North American Charging Standard, also known as the Tesla Charging standard. EVs made by Hyundai Motor Group companies -- Hyundai Motor and Kia -- use Combined Charger System (CCS) charger ports and they are not compatible with Superchargers, EV chargers operated by American EV maker Tesla. Tesla is America's favor
October 6, 2023 -
S. Korea's inflation rate reaches 3.7% in September 2023
SEOUL -- South Korea's inflation rate increased to the upper three percent range to reach the highest level in five months. The increased rate was affected by bad weather conditions such as heavy rainfall and extreme heat, which caused agricultural prices to rise. The impact of rising international oil prices also slowed the decline in petroleum product prices. Along with increased consumer prices, the level of the core price index (CPI), which excludes fuel and agricultural prices
October 6, 2023 -
POSCO partners with oil refiner GS Caltex to demonstrate bio fuel-based bulk carrier
SEOUL -- South Korea's leading steel group POSCO will work with GS Caltex, a major domestic oil refiner, to demonstrate a biofuel-based bulk carrier. In early October, the steelmaker's products will be transported using a ship made by H-Line Shipping, a South Korean marine carrier company. Biofuel is produced using plant-based or animal-based oil such as cooking oil from fast food restaurants or palm oil. Biodiesel, one of the most widely recognized biofuels, is normally ma
October 6, 2023 -
Pulmuone upgrades partnership with US cellular aquaculture startup BlueNalu to commercialize cell-based seafood
SEOUL -- To take the lead starting position in the South Korean cell-based seafood market, Seoul-based food company Pulmuone will strengthen a partnership with BlueNalu, a San Diego-based food company specializing in cultivated seafood such as tuna-like fish meat. The two groups agreed in 2020 to commercialize healthy cell-based seafood products without genetic modifications and free of environmental contaminants. BlueNalu has developed technology to produce various seafood including b
October 5, 2023 -
Lotte Wellfood collaborates with BTS to release limited-edition chocolate product 'Crunky'
SEOUL -- Lotte Wellfood, the confectionary wing of South Korea's conglomerate Lotte, has released a limited-edition chocolate product "Crunky" with special paper covers bearing images of BTS members. A total of eight types with images of individual members and one with a group photo, are available. Crunky is a crunchy chocolate snack filled with rice puffs. The popular crispy chocolate, released in 1974 at the Japanese office of Lotte, started its production in South Kore
October 5, 2023 -
Korean Air to expand passenger capacity for routes to Japan, China, and US
SEOUL -- To meet growing demands for international travel after the COVID-19 pandemic, Korean Air, South Korea's main flag carrier, will expand passenger capacity for routes to Japan, China, and the United States. The airliner will also open new routes to Viet Nam as well as revive airways that were suspended due to the pandemic. The winter season designated by the International Air Transport Association (IATA) starts on the last Sunday of October and ends on the last Saturday in
October 5, 2023
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Yoon condemns North Korean troop deployment to Russia
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VISUALS: Farmers stack harvested rice in price protest
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Rosé of BLACKPINK racks up 100 million views on YouTube with latest single
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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