Business
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State-run trade promotion agency advises Saudi Arabia to build S. Korean-type smart city
SEOUL -- South Korea's trade and investment promotion organization KOTRA has promoted South Korean-type smart cities at an event held in Saudi Arabia participated by local government officials. The agency has advised Saudi Arabian attendees regarding the establishment of a smart city based on digital twin, a virtual clone of an infrastructure, and other smart platforms. A smart city is a city platform that interconnects city infrastructure including facilities and devices using
June 13, 2023 -
POSCO Holdings breaks ground for lithium hydroxide in southern province for first time in S. Korea
SEOUL -- For the first time in the domestic battery-manufacturing sector, South Korea's leading steelmaking group POSCO has broken the ground for a lithium downstream processing plant in South Jeolla Province. The plant due to be completed by 2025 will process lithium that is pre-processed at a lithium lake located in Argentina into materials for lithium-ion batteries that are commonly used for electric vehicles. Lithium production is divided into two processes known as the &qu
June 13, 2023 -
S. Koreans choose Viet Nam as top summer vacation destination: market data
SEOUL -- South Koreans have chosen Viet Nam as their top summer vacation destination, data released by South Korea's major travel agency Hana Tour showed. The second and third favored travel destinations are Japan and Europe. According to the state-operated Immigration and Checkpoints Agency, about five million South Koreans headed to overseas countries in the first quarter of 2023, after almost all COVID-19 travel regulations were lifted in most countries. The number of people
June 13, 2023 -
S. Korea to set up guidelines to help domestic digital healthcare companies export AI products
SEOUL -- South Korea's drug ministry will set up guidelines for domestic digital healthcare companies so that they can target customers and plan their strategies accordingly based on various countries' unique regulations and business environments. Boosted by the accelerated research of artificial intelligence (AI) technologies, smart medical and healthcare solutions are being developed one after another. AI-based health-related solutions help doctors detect diseases more qu
June 13, 2023 -
Online sales of bikinis soar 53 percent year-on-year: market data
SEOUL -- Online sales of bikinis soared 53 percent between May 12 and June 11, compared to the same period a year ago, online sales data released by W Concept, the online fashion platform wing of South Korea's retail giant Shinsegae, showed. The company said swimwear items are gaining popularity thanks to increased demands for domestic and overseas travel during the summer vacation season in July and August. During the last one-month period, sales of female swimsuits includ
June 13, 2023 -
S. Korea forges joint fund agreement with Saudi Arabia to support startups
SEOUL -- South Korea's Ministry of SMEs and Startups signed a joint fund agreement with Saudi Arabia's Small and Medium Enterprises Bank to co-develop funds designed to attract investors and support startups from the two countries. The signing of the agreement follows the memorandum of agreement forged during the summit meeting between President Yoon Seok-yeol and Crown Prince Mohammed bin Salman of Saudi Arabia in November 2022. The startup ministry said in a statement
June 12, 2023 -
LS Electric breaks ground for $92.4 mln ESS project in Britain
SEOUL -- LS Electric, a power solution provider affiliated with South Korea's LS Group, has started the construction of a site for an energy storage system in Britain. The renewable energy storage project is LS' biggest foreign project that is due to be operable by June 2024. An energy storage system (ESS) is basically a modular facility that contains large-capacity battery packs and electrical components. ESSs are commonly used for storing electricity generated by renewabl
June 12, 2023 -
Pulmuone to collaborate with popular food franchise operator at K-pop festival hosted by BTS' agency
SEOUL -- Pulmuone, South Korea's major food company, will collaborate with Good For Good, a domestic food and lifestyle company, to showcase new vegetable-based food menus at a K-pop festival hosted by Hybe, the agency of BTS. South Korea's vegan population is steadily growing to stand at about two million in 2022, according to the Korean Vegan Union. There are also many people who choose to eat vegetable-centered meals because of their awareness of their health, the enviro
June 9, 2023 -
Fried chicken brand BBQ opens first store in Michigan
SEOUL -- BBQ, a popular South Korean fried chicken franchise, has opened its first store in the northern region of Michigan. The fried chicken brand, which operates some 250 stores in 24 states in the United States, aims to open 50,000 affiliated stores all over the world. BBQ, operated by Genesis BBQ, was launched in 1995 and became the iconic fried chicken franchise in South Korea. Compared to chicken made by foreign brands including KFC or Popeyes, most BBQ chicken less oily. As
June 8, 2023 -
Seoul becomes world's ninth most expensive city to live for foreign people: study
SEOUL -- Seoul, the capital city of South Korea, has become the world's ninth most expensive city to live for foreigners, a study by a global expatriate information and data analysis and consulting firm showed. New York dethroned Hong Kong to become the world's highest cost of living for expatriates. According to a study of 207 cities in 120 countries across the world, conducted by ECA International in March 2023, Seoul was ranked ninth in 2023's Cost of Living Rankings
June 8, 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