STX partners with Mongolian investor SG Group to co-develop high-value resources and rare metal businesses

SEOUL -- STX, a Seoul-based trading company, has partnered with SG Group, a Mongolian investment company, to jointly develop high-value resources and rare metals businesses in a bid to create stable supply channels for materials that are crucial for the production of batteries and semiconductors. Mongolia is rich in various mineral resources including lithium, tungsten, copper, gold, and iron. The country has some 16 percent of the world's rare earth materials that are require

November 28, 2023

Harman acquires audio technology platform Roon to beef up connectivity capability

SEOUL -- Harman, the audio and electric parts wing of Samsung Electronics, has acquired Roon, an American audio platform company that specializes in connectivity and streaming technology, in a bid to beef up the company's future smart car infotainment system capabilities. Harman, formerly known as Harman International, was acquired by Samsung in 2016. The company focuses on the connectivity of electronic devices such as hardware used in vehicles' infotainment systems. Connec

November 28, 2023

CJ Cheiljedang develops paper coating technology using biodegradable plastic material

SEOUL -- CJ CheilJedang, a key subsidiary of South Korea's food and entertainment conglomerate CJ Group, has developed eco-friendly paper coating technology using its degradable plastic material called "polyhydroxyalkanoates." The new technique can be used for paper packaging on paper cups, cup noodles, and rice containers. Polyhydroxyalkanoates (PHAs) are produced by bacteria during the fermentation process of sugar or lipids, including fats, oils, and waxes, for the

November 27, 2023

Bank of Korea to announce base interest rate through monetary policy meeting in November

SEOUL -- South Korea's central bank will announce the country's base interest rate during the last monetary policy meeting on November 30. The benchmark interest rate, which is at 3.5 percent, has remained unchanged for the sixth consecutive time since February 2023 amid growth deceleration and increased uncertainties, including the conflict between Ukraine and Russia, and concerns over rising household debts. The Bank of Korea (BOK) will determine the base interest rate thr

November 27, 2023

Girl band aespa to perform at SM Entertainment concert in Tokyo

SEOUL -- K-pop girl band aespa will perform at Tokyo Dome, an indoor stadium regarded as a "dream stage" among Japanese artists. The four-member band will participate in SM Town Live, a concert showcasing artists of South Korea's entertainment powerhouse SM Entertainment. The group released many hit songs such as "Black Mamba" and "Next Level." In June 2020, aespa signed a contract with Warner Music, an American entertainment and record label conglo

November 27, 2023

Global automotive market to see modest growth in 2024: market forecast

SEOUL -- The sluggish global automotive market will recover from the aftermath of the economic recession caused by the COVID-19 pandemic and see modest growth in 2024, data released by South Korea's private automotive research institute showed. The pandemic that has disrupted the global logistics network since early 2020 to come to an indefinite halt due to countries adopting strict quarantine policies including complete lockdowns, caused the global demand for automotives to exc

November 27, 2023

Taihan Cable joins power transmission and distribution projects in Britain

SEOUL -- Taihan Cable & Solution, a power cable and grid infrastructure company in South Korea, has partnered with London-based infrastructure group Balfour Beatty to take part in power transmission and distribution projects in Britain. The combined projects have a total value exceeding $275 million. Taihan Cable said on November 24 that the company will work with the British group specializing in engineering, procurement, and construction (EPC) for power grid projects. Balfour

November 24, 2023

Pulmuone to commercialize robot chef for noodles in early December

SEOUL -- South Korean food product maker Pulmuone will supply its vending machine that can cook refrigerated dishes in about 90 seconds to highway rest stops, and canteens at schools and companies in early December. The culinary robot provides instant noodle dishes including noodle soup with beef and broth, and Jjambbong, a spicy seafood noodle soup with various ingredients such as onions and garlic. The instant food cooking machine called "Robot Chef" was developed in Sep

November 24, 2023

Self-driving bus in Seoul's satellite city garners passengers' love

SEOUL -- Two self-driving buses demonstrated in Pangyo, a town district in a satellite city south of Seoul, has carried more than 10,000 passengers since its launch on July 17, 2023. The autonomous bus called "PanTa-G Bus" travels through a 5.9 kilometer (3.7 mile)-route in Pangyo Techno Valley, a high-tech industrial complex where traffic is heavily congested during commuting hours. In April 2021, Pangyo was designated as a demonstration zone for autonomous vehicle techno

November 23, 2023

Number of overseas stores operated by S. Korean convenience store chain CU surpasses 500

SEOUL -- The number of overseas stores run by the operator of South Korea's major convenience store franchise CU exceeded 500. The franchise operator "BGF Retail" currently has 370 stores in Mongolia and 140 in Malaysia. The company will launch its first shop in Kazakhstan in the first half of 2024. According to data released by BGF Retail, there is a high demand for Korean food at its overseas stores. At its Malaysian stores, Korean ready-to-cook food items including

November 23, 2023