Business
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HD Hyundai Heavy partners with defense company Babcock for submarine technology cooperation
SEOUL -- South Korea's shipbuilder HD Hyundai Heavy Industries will work with the Canadian branch of Babcock, a defense company based in Britain, to combine key technologies for submarines. Using the combined technologies, Babcock would export submarines to foreign nations. The agreement was made at MADEX 2023, an international maritime defense industry exhibition held in South Korea's southern port city of Busan, HD Hyundai Heavy said on June 7. "We should be able to
June 7, 2023 -
E-commerce platform Lotte On to adopt Upstage's AI-based recommendation solution
SEOUL -- Lotte On, an e-commerce platform operated by South Korea's retail giant Lotte Group, will adopt an artificial intelligence-based solution capable of suggesting products based on users' consumption patterns. Lotte ON will also work with Upstage, an AI startup that developed the solution, to increase the purchase conversion rate. Upstage has showcased various types of AI solutions. Earlier this year, the company released "AskUp Lemon Sparkling Highball," a
June 5, 2023 -
POSCO releases carbon offset steel products for first time
SEOUL -- For the first time as a South Korean steelmaker, POSCO has released carbon offset steel products targeting vehicle and electrical device manufacturers that seek to reduce their carbon output and create a net reduction in greenhouse gas emissions by funding atmospheric carbon reduction actions of another company or organization. Carbon offset products, or carbon offsets, are products that are created using methods that release less carbon in the atmosphere by using renewabl
June 5, 2023 -
Cosmetics brand Laneige to preserve Asia's maritime environment with Swiss-based environment group
SEOUL -- Laneige, a skincare brand affiliated with South Korea's top cosmetics maker Amorepacific, will work with the World Wide Fund for Nature, a non-governmental wildlife conservation organization, to carry out marine preservation projects in South Korea, China, and Thailand. The Swiss-based group established to preserve endangered species has more than five million members in more than 100 countries. Various types of ocean waste including discarded plastic come from river
June 5, 2023 -
GI Biome starts clinical trial of colorectal cancer treatment candidate 'GB-X01'
SEOUL -- GI Biome, a microbiome-based drug developer in South Korea, has started administering GB-X01, an anti-colorectal cancer candidate, to patients in the first clinical trial in South Korea. Through the test, the company aims to confirm the safety, drug tolerance, and composition variation of intestinal microorganisms before and after administration. The microbiome is a cluster of all types of microscopic organisms that co-exist with humans such as bacteria, fungi, protozoa, a
June 2, 2023 -
SK Innovation's subsidiary forges long-term supply deal with N. American companies
SEOUL -- SK IE Technology, a battery separator-making wing of SK Innovation, has forged long-term supply deals with companies in North America and other countries, the company said during a conference call. Battery separators act as a barrier between the anode (negative) and cathode (positive) electrodes while allowing the exchange of lithium ions from one side to another. It is a vital component of high-capacity, high-performance lithium-ion batteries commonly used in electric veh
June 2, 2023 -
Asian countries become S. Koreans' favorite travel destinations after reopening
SEOUL -- As the world entered step-by-step stages of the reopening, the process of normalization from the COVID-19 pandemic, Asian countries including Japan, Viet Nam, and the Philippines have become South Koreans' favorite travel destinations, market data showed. Data released by the Bank of Korea on May 30 showed that travelers to South Korea spent about $3 billion in the first quarter of 2023 while South Koreans traveling abroad spent about $6.3 billion. Frequent travelers w
June 2, 2023 -
Dayou AutoParts builds steering wheel plant in Mexico
SEOUL -- South Korea's car parts maker Dayou AutoParts has completed the construction of a steering wheel factory in Monterrey, an industrial city in northeastern Mexico. The company aims to establish a production capacity of 700,000 steering wheels every year and supply them to firms in North America including Hyundai Motor's electric vehicle plant. Monterrey is a major hub for global electric vehicle (EV) manufacturers. Tesla revealed its plan in February to establish a $
June 1, 2023 -
Samsung partners with British magazine Dezeen to host recycled product design contest
SEOUL -- Samsung Electronics has worked with Dezeen, a Britain-based design and architectural magazine, to host a design contest aimed at encouraging the recycling and upcycling of Samsung products and materials used for Samsung devices. Anyone who is 18 or older can participate in the competition through Dezeen’s website to win 10,000 British pounds ($12,427). While recycling mainly focuses on collecting waste materials and simply turning them into new product materials, upc
June 1, 2023 -
HD KSOE selected by EU to participate in research project for development of hydrogen storage tech
SEOUL -- HD Korea Shipbuilding & Offshore Engineering, the holding company of Hyundai shipbuilding group, was selected by the European Union's research program to form a consortium with 13 other companies and organizations to develop large-capacity liquefied hydrogen storage system technologies. To minimize the damage by climate change, the world is starting to engage in a global initiative of reducing dependency on fossil fuels and go completely carbon neutral by 2050. Alo
June 1, 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