LG Chem opens research center in Georgia to incubate new researchers

SEOUL -- In a bid to develop new technologies related to next-generation batteries, bioplastics, and recycled materials, South Korea's major chemical company LG Chem has opened a research center in Georgia, the United States. LG Chem said that the company opened the "North American Innovation Center" in Georgia and signed a memorandum of understanding with the Georgia Institute of Technology to cooperate in the development of new technologies. According to the world&#

October 25, 2023

SK Signet supplies $4.2 mln worth of ultra-fast EV chargers for US ridesharing service operator

SEOUL -- SK Signet, an electric vehicle charger manufacturer affiliated with South Korea's conglomerate SK Group, has supplied its 400 kilowatt-class electric vehicle chargers to Revel Transit, a New York-based ridesharing service operator. The South Korean EV charger maker has received $4.2 million through the supply deal. However, details of the deal were not disclosed. Revel will install the chargers in various regions in New York and California. Revel operates EV charging stati

October 25, 2023

French-style bakery brand Tous Les Jours opens first store in Canada

SEOUL -- Tous Les Jours, a French-style bakery brand run by a food service unit of South Korea’s CJ Group, has opened its first store in Canada. The food company plans to operate 1,000 Tous Les Jours stores in North America by 2030. Tous Les Jours is currently operating more than 400 stores in foreign countries including the United States, China, Indonesia, and Mongolia. In August 2023, the bakery brand launched its 100th store in the U.S. The franchise operator aims to run 120 s

October 24, 2023

Samsung SDI to provide EV batteries for Hyundai auto group

Seoul -- South Korea's major battery maker Samsung SDI has partnered with Hyundai auto group to supply electric vehicle batteries for seven years starting in 2026. An EV installed with SDI's P6, a box-shaped battery pack, can charge more than 80 percent of its battery capacity in just ten minutes. The battery maker will provide the prismatic battery packs for Hyundai EVs released in the European market. Samsung SDI is currently developing P6 and plans to start its mass producti

October 23, 2023

CJ Cheiljedang targets global market with ready-to-cook Korean street food packages

SEOUL -- CJ Cheiljedang, South Korea's major food maker, has released new ready-to-cook products of Korean street foods -- Tteokbokki, rice cakes smothered in sweet chili sauce, "Ojingeo Twigim," deep-fried calamari, and "Gimmari," deep fried seaweed-rolled noodles -- targeting the global foodies who wish to try menus frequently introduced through K-dramas and K-films. Ready-to-cook packages, or home meal replacement (HMR) products, are easy-to-cook packs that c

October 23, 2023

Hyundai to make foray into S. Korea's used car market worth $22.1 billion

SEOUL -- Hyundai Motor will make a foray into South Korea's used car market dominated by small and medium-sized car dealers. The world's third-largest carmaker will differentiate its service by the thorough analysis and tests of vehicles under the motto of "Made by us, Cared by us." South Korea's used car market which is worth about 30 trillion won ($22.1 billion) is mainly comprised of small-sized dealers listing their products on used car trade platforms operate

October 20, 2023

40% of S. Korean startups stranded in tougher situation than 2022: survey

SEOUL -- About 40 percent of South Korean startups feel that they are put in a tougher situation than it was a year ago, a survey showed. Startups said the main reasons for the hardships in the operation of companies were reduced investments, increased operation costs due to raw materials price hikes, and lack of manpower. According to data released by the startup ministry, there were some three million startups in operation as of 2020. 22 percent of startups were technology-based, mea

October 19, 2023

Food maker Nongshim to invest 10 bln won for incubation of food technology startups

SEOUL -- To incubate food technology startups, South Korea's major food maker Nongshim will invest five billion won ($3.7 million) each in two funding projects for startups. The funding projects will be operated by domestic venture capital investment companies Stonebridge Ventures, and IMM Investment. Nongshim is South Korea's iconic food company that is well-known for its best-selling lineups of instant noodles and snacks. South Korean instant noodles called Ramyeon have g

October 18, 2023

Lotte Mart to attract wine and whisky lovers through special sale event

SEOUL -- Lotte Mart, the mega-mart franchise operated by South Korea's confectionary giant Lotte Group, will seek to attract wine and whisky lovers through a special autumn sale event. While wine maintains its position as one of the country's favorite alcoholic beverage types favored by middle-aged consumers, whisky has garnered explosive popularity among young consumers in their 20s and 30s during the last five years. Whisky was the icon of old people's drinking culture

October 18, 2023

​Hyundai Wia partners with brother company to develop flying taxi landing systems

SEOUL -- Hyundai Wia, a parts-making wing of South Korea's Hyundai auto group, forged a partnership with Supernal, an independent urban air mobility company set up by Hyundai's United States office, in a bid to develop special landing systems for flying taxis. Urban air mobility (UAM) is infrastructure for commercial flying passenger vehicles that includes vertiports and control towers. Aerial vehicles are required to fly through designated aerial corridors to prevent acciden

October 18, 2023