GI Innovation partners with US tech company Medidata to develop AI-based immuno-oncology pipeline

SEOUL -- South Korea's pharmaceutical company GI Innovation will work with Medidata Solutions, a New York-based clinical trial data solution provider, to accelerate the clinical development of its immunotherapy agents -- GI-101 and GI-102. Medidata's artificial intelligence and big data would be used for the two immuno-oncology candidate substances. GI-101 is a dual fusion protein that combines functions of CD80 and IL-2, proteins that play crucial roles in the immune syste

September 5, 2023

S. Korean President Yoon to visit Indonesia for ASEAN summit meetings

SEOUL -- South Korean President Yoon Suk-yeol will embark on a six-day journey to Indonesia to attend the ASEAN summit meetings and visit India for a summit meeting with Indian Prime Minister Narendra Modi. Indonesian President Joko Widodo invited President Yoon to attend a summit meeting. President Yoon will attend a set of meetings including South Korea-ASEAN summit meetings and the South Korea-China-Japan trilateral summit meeting as well as a gala luncheon session hosted by the Ind

September 5, 2023

LG Magna e-Powertrain to construct EV parts plant in Hungary by 2025

SEOUL -- LG Magna e-Powertrain, a joint venture between Canada's mobility technology company Magna International and South Korea's LG Electronics, will build a plant in Europe to produce electric vehicle components such as electric motors. The company's first European factory will be built in Hungary's industrial city "Miskolc" by 2025. The EV parts plant will be set up in Miskolc in northwestern Hungary, LG Magna e-Powertrain, said on September 4. The 26,000-s

September 4, 2023

S. Korea and French company L'Oreal kick-start incubation program for 'beauty tech' startups

SEOUL -- South Korea and French personal care company L'Oreal have kick-started an incubation program for South Korean startups that specialize in "beauty tech" products. The project is part of a partnership between South Korea's startup industry and the French beauty product company that was forged in June 2023. Beauty tech refers to skin care technology that incorporates artificial intelligence-based devices and solutions that analyze and provide appropriate care

September 4, 2023

SK ecoplant joins project to build wind power facilities in Canada

SEOUL -- A consortium that involves SK ecoplant, an environmental and energy solution provider affiliated with South Korea's SK Group, has secured a 1,077.91 square-kilometer-wide land in eastern Canada to build wind power facilities. Along with Canadian renewable energy provider World Energy GH2, SK ecoplant aims to generate carbon-free green hydrogen by breaking down water with electricity produced by wind generators and deliver it to other continents including Europe after convertin

September 4, 2023

S. Korea to inject $109 mln to boost seafood industry amid fears of radioactive waters from Japan

SEOUL -- South Korea will inject a total of 144 billion won ($104 million) in a bid to stimulate the consumption of seafood after the industry was frozen due to Japan discharging contaminated water including radioactive materials such as tritium from the Fukushima nuclear power plant, the world's worst nuclear disaster site since the Chernobyl nuclear disaster in 1996, into the Pacific Ocean. Despite South Korea's seafood market entering one of its busiest seasons at the end of

September 1, 2023

Exports of S. Korean instant noodles Ramyeon surpass $520 mln in 2023

SEOUL -- Exports of South Korean instant noodles known as Ramyeon soared 17.7 percent year-on-year to a record high of $522 million during the first seven months of 2023, state data showed. The instant noodles, featured in many South Korean movies including the Oscar-winning film "Parasite" and live streaming content, have created a global phenomenon, with consumers uploading themselves eating hot noodles onto YouTube. According to data provided by the Korea Agro-Fisherie

September 1, 2023

Hyundai auto group develops low-temperature paint curing technology to reduce carbon emissions

SEOUL -- South Korea's Hyundai auto group has developed paint curing technology and demonstrated the technique for the prototype of G80, a flagship sedan of its Genesis brand. The amount of carbon can be dramatically reduced by lowering the temperature of the manufacturing process. Paint curing is the process of hardening the paint in the car manufacturing process. According to Hyundai Motor, the conventional painting process used melamine which could be cured at temperatures of 14

August 31, 2023

Annual sales of Pulmuone's alternative meat brand reach $32.4 mln

SEOUL -- "Vegetable Earth Diet," an alternative meat brand by South Korea's food company Pulmuone, has recorded about 43 billion won ($32.4 million) in sales only a year after its release in August 2022. The vegan meat brand contains food items made with plant-based ingredients such as alternative meat and tofu noodles. Pulmuone said in a statement that the company gained around 43 billion won through the Vegetable Earth Diet brand. The brand also includes an alternative

August 29, 2023

S. Korean food industry likely to be affected by increased milk prices

SEOUL -- Seoul Milk, one of South Korea's major dairy product makers, has announced that the company will increase the price of its white milk product by three percent due to increased prices of crude milk, or raw milk produced by cows. Milk prices are affected by various economic variables such as prices of fuel, stock feed, animal medicine, and human labor. According to the consumer price trends released by the national statistics information service, the consumer price index for

August 29, 2023