ZEPETO operator to support UAE's metaverse business in media accelerator zone

SEOUL -- The operator of ZEPETO, a metaverse platform created by South Korea's top portal site Naver, will share its expertise in metaverse-related technologies to upgrade an existing virtual reality ecosystem in the United Arab Emirates' media service hub "Sharjah Media City." The media accelerator zone, located in the Middle Eastern country's third-most populous city of Sharjah, plans to offer various business opportunities for global entrepreneurs in the creati

December 11, 2023

Hyundai Motor forges multilateral partnership to accelerate establishment of global hydrogen ecosystem

SEOUL -- Hyundai Motor forged a multilateral partnership with various organizations and SK E&S, the renewable energy wing of South Korea's SK Group, in a bid to establish a global hydrogen ecosystem. A hydrogen ecosystem refers to infrastructure that consists of networks of hydrogen factories, logistics systems for hydrogen transport, storage systems for hydrogen, and hydrogen charging stations for commercial and ordinary hydrogen-based vehicles. When hydrogen networks of

December 11, 2023

Hyundai Engineering partners with nuclear power research institute to export homemade small reactors

SEOUL -- South Korea's major builder Hyundai Engineering has partnered with a state-run atomic energy research institute to export the country's homemade small nuclear reactor, claimed to be smaller and more efficient than conventional nuclear reactors. Starting with Canada, the South Korean company is considering supplying the "system-integrated modular advanced reactor" to the United States, India, and Uzbekistan. The system-integrated modular advanced reactor

December 11, 2023

LG Energy Solution develops technology to upgrade lithium metal batteries' performance

SEOUL -- LG Energy Solution, the battery-making wing of South Korea's LG Group, has developed lithium metal battery technology that enhances driving distance by about 50 percent compared to existing lithium-ion batteries. Using the new technique, the driving range of electric vehicles can be extended to 900 kilometers (559 miles) per charge, up from the current 600 km. Lithium metal batteries have been studied as they were claimed to run longer and hold more energy than lithium-

December 7, 2023

Naver partners with Saudi Arabia's smart city solution company iot squared

SEOUL -- South Korea's web service giant Naver has partnered with iot squared, Saudi Arabia's smart city solution company, to cooperate in various projects including the development of digital twin and robotics technologies. In October, Naver secured an order worth $100 million to build digital twins, virtual replicas, of Saudi Arabian cities including Riyadh, Mecca, and Medina. The digital twin technology will be used for infrastructure-building and disaster management of t

December 7, 2023

POSCO's carbon-based materials manufacturer starts mass production of single crystal cathode at Pohang plant

SEOUL -- POSCO Future M, the carbon-based material manufacturer wing of South Korea's steelmaker POSCO, has started the mass production of single catalyst cathode at its plant located in the southern industrial city of Pohang. The Pohang plant is the company's second base of manufacturing for the single catalyst battery electrode as POSCO Future M succeeded in the mass-production for the first time at a plant in the southern port city of Gwangyang in March 2023. POSCO Fut

December 7, 2023

Chinese ecommerce giant Alibaba promises to provide customer protection for S. Korean consumers  

SEOUL -- Aliexpress, the business-to-customer-focused ecommerce platform wing of China's online shopping titan Alibaba Group, has made promises to inject 10 billion won ($7.6 million) over the next three years in a bid to establish a safe shopping system that will protect the rights of customers and sellers including intellectual property. Alibaba Group operates three main shopping platforms -- Alibaba, Aliexpress, and Taobao. While Alibaba focuses on wholesale and business-to-b

December 6, 2023

Inflation of food prices accelerate despite slowed inflation of consumer prices

SEOUL -- Despite the slowed inflation of consumer prices in November, the inflation rate of food prices has become steeper, data released by South Korea's statistics information office showed. Among food ingredients, the increased rates of prices of salt, sesame oil, and pasta noodles were the biggest. The continued consumer price increase in South Korea was caused by high interest rates, high oil prices, and increased prices of agricultural products. Various factors such as abn

December 6, 2023

Megastore franchise Emart to open third store in Viet Nam

SEOUL -- Emart, the megastore wing of South Korea's retail conglomerate Shinsegae, will open its third store in Viet Nam in about a year after the launch of its first store in November 2022. Visitors can enjoy various types of food products such as pizza and Gimbap, a Korean dish of rice and other ingredients such as vegetables and meat wrapped in sheets of laver. Emart said in a statement that the third store, located in Ho Chi Minh City, will start operations on December 7. Th

December 6, 2023

State electricity company partners with Jordan's state agency for small modular reactor project

SEOUL -- Korea Hydro & Nuclear Power, a state operator of South Korea's nuclear power plants, will work with Jordan's state agency responsible for atomic energy projects, to provide its small modular reactor that is claimed to be smaller and safer than the conventional reactors. The South Korean company will carry out a technology exchange and feasibility study with Jordan, considering the adoption of the small modular reactor after 2030. Small modular reactors (SMRs) ha

December 5, 2023