Business
-
KT works with American book publisher to release digital IPTV English education content
SEOUL -- South Korea's major telecom company KT has worked with Scholastic, an American children's book publisher, to create internet protocol television English education content for kids. Video content designed to teach commonly used English words will be released every week on Genie TV, an internet cable TV service run by KT. According to KT, Scholastic has distributed books to 165 countries and about 83 percent of public schools in the United States use the book publish
June 1, 2023 -
LIG Nex1 to install illegal drone detector at South Korea's main domestic airport
SEOUL -- LIG Nex1, a defense contractor in South Korea, has secured an order worth two billion won ($1.5 million) to install a drone detector at Gimpo International Airport in western Seoul. The anti-drone project is designed to protect aircraft, facilities, and airport users by identifying the location and movement of illegal drones. Gimpo International Airport used to be the largest airport in South Korea until Incheon International Airport opened in March 2001. South Korea has
May 31, 2023 -
LG Chem starts construction of fourth carbon nanotube plant in western region
SEOUL -- LG Chem, the chemical unit of South Korea's LG Group, has started the construction of its fourth carbon nanotube plant to meet global demands for the promising material used in the production of electric vehicle batteries, aircraft hulls, semiconductors, and auto parts. The operation of the fourth plant would expand the company’s production capacity to 6,100 tons from the current 2,900 tons. Carbon nanotube (CNT) materials have about the same level of electricity
May 31, 2023 -
Hanwha Aerospace invests in American secondary battery technology startup
SEOUL -- In a bid to acquire the next-generation secondary battery technology for the company's eco-friendly future mobility businesses, Hanwha Aerospace, a global defense solution company, made an investment into Forge Nano, an American startup specializing in secondary battery material technologies. Large-capacity secondary batteries are the core factor in the electric-powered vehicle sector. Secondary batteries are also used in the renewable energy sector to store electricit
May 30, 2023 -
Amorepacific to beef up hair loss treatment business
SEOUL -- South Korea's top beauty product maker Amorepacific has hosted a conference to discuss women's hair loss with scalp experts from different countries including the United States and Japan. The South Korean company aims to roll out an anti-hair loss product based on its know-how in hair research. Government data showed that more than 240,000 South Koreans received medical services because of hair loss and female patients accounted for about 44.2 percent. According to
May 30, 2023 -
POSCO Group and SKC forge partnership to collaborate in future secondary battery businesses
SEOUL -- South Korea's steel-making conglomerate POSCO Group and SKC, the chemical material manufacturing wing of SK Group, have forged a partnership to collaborate in future businesses in the global secondary battery market predicted to reach $300 billion by 2030. Secondary batteries are basically rechargeable batteries that are used in people's everyday lives. Large-capacity secondary batteries are especially crucial in the electric vehicle sector where lithium-based
May 30, 2023 -
Shinsegae Department Store launches multilingual wholesale platform for South Korean apparel brands
SEOUL -- The department store division of South Korea's retail conglomerate Shinsegae Group has officially launched a wholesale platform for South Korean fashion brands. Shinsegae aims to incubate various talented designers through the multilingual platform called “Kfashion82” targeting the global K-fashion market. According to data released by the Korea Federation of Textile Industries, South Korea's apparel item exports to Britain, France, Italy, and the Unite
May 30, 2023 -
EU loosens regulation over exports of S. Korean instant noodles
SEOUL -- The European Union has decided to loosen regulations over imported instant noodle products, including South Korean instant noodles called "Ramyeon," by simplifying the safety verification process. Previously, the EU requested test papers that certify imported instant noodles do not contain residues of ethylene oxide and its metabolite 2-chloroethanol which could be found in soup powders of some products. Ethylene oxide (EO) is widely used as a fumigating agent fo
May 24, 2023 -
Domestic OTT service operator Wavve recapitalizes to accelerate global business operation
SEOUL -- In a bid to find a solution to expand the company's business operations to overseas countries, South Korea's domestic over-the-top service Wavve has attracted an investment of about 25 billion won ($19 million) from SK Square's American subsidiary through recapitalization. According to South Korea's fair trade watchdog, the domestic over-the-top (OTT) service market, estimated to stand at $1.9 billion in 2022, was led by Netflix, the world's largest OTT
May 23, 2023 -
Samsung Electro-Mechanics suffers inventory accumulation despite production cut
SEOUL -- Sales data showed that Samsung Electro-Mechanics, the electrical component maker in South Korea, was stricken by inventory accumulation despite the fact that the company made a bold decision in late 2022 to cut production. Samsung Electro-Mechanics mainly focuses on multilayer ceramic capacitors (MLCCs), printed circuit boards, and camera modules. The company is one of the top players in the global electric component market. The electric component maker's products are
May 23, 2023
-
Veteran actress Kim Soo-mi dies at 75
-
VISUALS: Extreme sports festival kicks off at Gwanghwamun
-
South Korea, U.S. defense chiefs to hold talks in Washington
-
North Korean troops in Russia are Moscow's 'business,' Putin says
-
LG Electronics heat pump to win innovation award at US expo
-
PHOTOS: Korea observes Dokdo Day
-
Hyundai Mobis posts 31.6% jump in Q3 operating profit
-
Old movies make comeback to theaters with nostalgic appeal
-
Cyclonic storm makes landfall on eastern Indian coast
-
TikTok hosts creator summit in Saudi Arabia