Business
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Healthcare company PharmGen Science secures $1 mln export contract with Vietnam's distribution firm
SEOUL -- PharmGen Science, a Seoul-based healthcare product developer, has sealed an order worth $1 million to provide medicines, health supplements, cosmetics, and medical devices for Medicare, a Vietnamese medical product distributor with about 6,000 clients. The South Korean company will also operate an office in Vietnam to expand its business scope into the Southeast Asian market. PharmGen Science produces various types of drugs such as Vardipine Tab, a product used for cardiov
June 22, 2023 -
Convenience store chain CU operator to make foray into Kazakhstan
SEOUL -- BGF Retail, the operator of South Korea's major convenience store franchise CU, has partnered with the convenience store operation wing of Shin-Line, a Kazakhstan-based ice cream manufacturer, to make a foray into Kazakhstan's convenience store market. The first store set to open in the first half of 2024 would become the first South Korean convenience store in the Central Asian country. BGF Retail aims to build more than 500 stores by 2029. According to data relea
June 20, 2023 -
SK Geocentric adopts blockchain platform to track and manage recycled plastic materials
SEOUL -- South Korea's plastic recycling technology company SK Geocentric has adopted a blockchain-based resource management platform in a bid to accurately track and manage recycled plastic materials. The platform will label batches of recycled plastic to verify the material, source, and end product in which the materials were used. The clear management of recycled plastic materials is very important because secondary plastic processing companies rely on information about wher
June 20, 2023 -
Hyundai opens EV charging infrastructure quality certification center
SEOUL -- In a bid to boost the overall quality of South Korea's electric vehicle charging infrastructure and related services, Hyundai motor group partnered with the Korea Testing Certification Institute, a private certification agency, to open a certification center for EV charging infrastructure. As of January 2023, there were 205,205 EV chargers across South Korea with some 390,000 registered EVs. Currently, more than 90 percent of installed chargers are slow chargers that t
June 19, 2023 -
7-Eleven kick-starts delivery robot demonstration to prepare for commercialization
SEOUL -- The South Korean branch of global convenience store franchise 7-Eleven will kick-start the company's third demonstration of autonomous delivery robots in a bid to accelerate commercialization. The company carried out its first demonstration of service robots in 2021. Various types of delivery robots have been commercialized in South Korea over the past five years but they are mainly designed for indoor operations. Robots would stand by at a charging port and move to a
June 19, 2023 -
Pet healthcare company Daewoong Pet to develop anti-muscle loss material for animals
SEOUL -- Daewoong Pet, the pet healthcare wing of South Korea's major pharmaceutical company Daewoong Pharmaceutical, will work with research institutes to develop a drug for pets with sarcopenia, a type of muscle loss that commonly happens among old animals. Data obtained during the anti-muscle loss material development process can also be used to treat human patients. According to data released by Daewoong Pet, sarcopenia, which deteriorates muscle function, can cause chronic
June 16, 2023 -
S. Korea forges partnership with France's L'Oreal Group to support beautytech startups
SEOUL -- South Korea's startup ministry has forged a cooperation agreement with France's personal care company L'Oreal Group to incubate South Korean beauty tech startups and small and medium-sized companies. Beauty tech refers to skin care technology that incorporates artificial intelligence-based devices and solutions that analyze and provide appropriate care accordingly to different skin types. According to Statista, a global market research firm, the global beauty t
June 16, 2023 -
Coupang's food sales in 1Q 2023 increase by 20% on-year: market data
SEOUL -- Coupang, the South Korean counterpart of Amazon, saw its food sales grow by more than 300 percent compared to the growth of other online and offline food sales. The secret behind Coupang's success in online food sales is the cooperation between the online shopping giant and food companies in which they take different roles so that they can focus on the things they do best. The online shopping giant garnered explosive popularity among working people, housewives, and par
June 16, 2023 -
LS Electric partners with state power company to commercialize superconducting fault current limiters
SEOUL -- LS Electric, a power solution provider affiliated with South Korea's LS Group, will commercialize superconducting current limiters that can minimize damage to power plants in case of unexpected accidents such as lightning strikes and short circuits. The power solution company aims to export devices that alleviate fault currents generated by electrical faults to Southeast Asian and European markets. Fault currents reduce the stable power supply and lifespan of power equ
June 15, 2023 -
Samsung SDI and GM to build joint battery factory in US
SEOUL -- South Korea's major battery maker Samsung SDI and American automotive company GM are building a joint battery factory in Indiana, the United States. The two companies established a joint venture in April 2023 to produce large-capacity high-performance batteries for electric vehicles. According to Governor Eric Holcomb of Indiana, Samsung SDI and GM will build a new $3 billion EV battery plant in Indiana, without disclosing the exact location. "Happy to announc
June 14, 2023
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Veteran actress Kim Soo-mi dies at 75
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VISUALS: Extreme sports festival kicks off at Gwanghwamun
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South Korea, U.S. defense chiefs to hold talks in Washington
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North Korean troops in Russia are Moscow's 'business,' Putin says
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LG Electronics heat pump to win innovation award at US expo
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PHOTOS: Korea observes Dokdo Day
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Hyundai Mobis posts 31.6% jump in Q3 operating profit
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Old movies make comeback to theaters with nostalgic appeal
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Cyclonic storm makes landfall on eastern Indian coast
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TikTok hosts creator summit in Saudi Arabia