Business
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Kolon Industries to develop food waste-based degradable plastic material technology
SEOUL -- Kolon Industries, a chemical and textile manufacturing company affiliated with South Korea's Kolon Group, will work with Paques Biomaterials, a Netherlands-based eco-friendly material startup, for the development of technology to mass produce food waste-based degradable plastic materials called "polyhydroxyalkanoates." Kolon Industries aims to secure resources and technology to produce eco-friendly materials in South Korea. Polyhydroxyalkanoates (PHAs) are pr
May 23, 2023 -
HD Hyundai Energy Solutions wins solar power module contract in Central African market
SEOUL -- For the first time, HD Hyundai Energy Solutions, the solar power wing of South Korea's Hyundai shipbuilding group, has won a solar power module supply contract in the Central African market. The company will provide 500-watt high-performance solar power modules to Portuguese infrastructure builder MCA for the construction of local power plants. According to the International Energy Agency, Africa has the world's largest solar energy resources of up to 60 percent bu
May 22, 2023 -
CJ Cheiljedang beefs up food business in U.S. by establishing world's biggest frozen pizza factory
SEOUL -- CJ Cheiljedang, South Korea's major food company under CJ Group, has beefed up its food business in the United States by building the world's largest frozen pizza manufacturing facility. The food company targets the North, Central, and South American markets with frozen Pizza, frozen dumplings, and other Korean menus. In a bid to attract customers in the American market, CJ Cheiljedang acquired Schwan's Company, a frozen food manufacturer headquartered in Minne
May 22, 2023 -
S. Korean power supplier to establish 500 megawatt-class solar power generation facility in Oman
SEOUL -- Korea Western Power, a power supplier in South Korea, will inject 600 billion won ($451 million) to build a solar power generation facility in Oman. Through this facility, the Middle Eastern country can produce about 500 megawatt hours of electricity. Korea Western Power signed an agreement with Oman Power and Water Procurement Company (OPWP) to start the construction in November 2023 in Oman's northeastern region called "Manah." The South Korean company will
May 19, 2023 -
LG Energy Solution forges partnership with Australia's lithium mine operator
SEOUL -- In a bid to diversify and expand lithium supply channels, South Korea's battery maker LG Energy Solution has forged a partnership with Australia's Green Technology Metals, a lithium mine operator. Global battery makers are in a race to acquire as many stable supply channels for lithium and other rare metals that are required for the production of batteries. China controls about 70 percent of the global lithium production. China, Australia, and Chile are the world
May 19, 2023 -
LG Chem to provide reverse osmosis membranes for desalination project in Israel
SEOUL -- LG Water Solutions, the water treatment wing of South Korea's LG Chem, was selected to supply some 30,000 reverse osmosis membranes for a global desalination project in the Israeli city of Ashdod. Using LG Chem's membranes, the project operators in Israel can annually desalinate 100 million tons of seawater that can be consumed by about 1.1 million people. Reverse osmosis (RO) is used to remove salt and other substances from water through a semi-permeable membrane.
May 18, 2023 -
Kakao's mobility service wing push to release van-hailing service in Jeju Island
SEOUL -- Kakao Mobility, the mobility service wing of South Korea's web service giant Kakao, is pushing to release its van-hailing service in the southernmost resort island of Jeju. The island with an iconic dormant volcanic mountain was visited by some 14 million tourists in 2022. Jeju with a population of about 700,000 is one of the popular tourist spots frequently visited by South Korean and Chinese tourists. While tourists participating in package tour programs travel aro
May 18, 2023 -
Doosan to enter commercial hydrogen vehicle market with fuel cell technology
SEOUL -- South Korea's Doosan Group will enter the commercial hydrogen fuel cell vehicle market using its hydrogen power drive system in a bid to create a new growth engine for the future clean energy era. The global hydrogen fuel cell-related market is growing consistently to reach $2 trillion by 2050 and South Korean technology companies are investing a total of more than 50 trillion won. Doosan Group founded Doosan Fuel Cell specializing in hydrogen fuel cell-based systems a
May 17, 2023 -
Hyundai Wia makes foray into EV heat management component market
SEOUL -- Hyundai Wia, South Korea's car parts maker, has entered the global electric vehicle heat management component market with a coolant hub module that manages the heat released by the batteries, motors, and other electric components. Hyundai Wia's module will be installed into Hyundai Motor and Kia's EV models. Heat management is an important aspect in the operation of an EV. When an EV's parts are heated, the overheating could lead to degraded performance or
May 16, 2023 -
S. Korea's TV home shopping industry struggles to capture customers
SEOUL -- Due to fewer people watching TV, South Korea's TV home shopping industry is struggling to capture more customers. Major home shopping show operators experienced a sharp decrease in operating profit. South Korea's TV home shopping market which stood at 5.56 trillion won ($4.16 billion) in 2019 saw a slight increase of 5.9 percent to reach 5.89 trillion won in 2020 when people stayed at home and watched TV to avoid being infected by COVID-19. However, the market siz
May 16, 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