Top S. Korean battery makers' demands for battery separators to exceed $10.4 bln by 2030: market prediction

SEOUL -- The demand made by the top three S. Korean battery makers -- Samsung SDI, LG Energy Solution, and SK On -- for battery separators will increase by an annual average of 17 percent to exceed $10.4 billion by 2030, a market research firm predicted. Battery separators are special films that prevent a battery's electrodes -- an anode and cathode -- from physically coming in contact with each other and causing combustion. They also allow lithium ions to pass through, making th

July 3, 2023

SK Telecom expands partnership with flying taxi firm Joby through $100 mln investment

SEOUL -- South Korea's major mobile carrier SK Telecom has expanded its partnership with Joby Aviation, an American all-electric commercial passenger aircraft company, through an equity investment of $100 million. The two companies will work together to develop technology and infrastructure for urban air mobility services, also known as flying taxi services. Joby Aviation is a United States venture-backed aviation company that specializes in urban air mobility (UAM) vehicles. The

June 30, 2023

EU decides to extend deadline for review of Korean Air's merger with Asiana

SEOUL -- Korean Air, South Korea's flag carrier, has requested the European Union's antitrust regulators to extend the deadline for the review of the company's merger with Asiana Airlines, the domestic rival of Korean Air, according to the flag carrier. In late 2020, Korean Air began a step-by-step procedure to take over Asiana which was reeling from snowballing debt and credit crisis caused by the COVID-19 pandemic. The deal triggered concern about the financial struct

June 29, 2023

GS Caltex partners with Korean Air to demonstrate bio aviation fuel

SEOUL -- South Korea's major oil refiner GS Caltex has partnered with Korean Air, the country's flag carrier, to create infrastructure for the demonstration and commercialization of bio aviation fuel targeting the global market projected to reach $696.2 billion by 2030. Biofuel is created using plant-based or animal-based oil such as used cooking oil from fast food restaurants or palm oil. The most well-known type of biofuel is biodiesel which can be produced by recycling u

June 29, 2023

​Samsung to open flagship store in Seoul's heart of consumer trends

SEOUL -- Samsung Electronics has opened its flagship store in Gangnam, Seoul's heart of consumer trends, in a bid to capture more customers. The new store scheduled to open on June 29 is about 500 meters (0.3 miles) away from an Apple Store. Samsung currently operates 360 stores called "Samsung Digital Plaza" across South Korea. Each store plays the role of a showroom for electric devices while some stores also have a customer service center where Samsung customers ca

June 28, 2023

Hanwha Group succeeds in demonstration of hydrogen-gas hybrid co-firing turbine

SEOUL -- South Korea's Hanwha Group has succeeded in the demonstration of a large-scale hydrogen-gas hybrid co-firing turbine for thermal power generation. The company said that it achieved the world's top-class co-firing rate of 59.5 percent. Hybrid co-firing gas turbines are being researched across the world in an effort to reduce the dependency on fossil fuels and emission of greenhouse gases including carbon dioxide from thermal power plants. Hydrogen, which is regarded

June 28, 2023

​S. Korea cooperates with Microsoft to incubate young AI specialists

SEOUL -- South Korea's employment ministry is funding the South Korean office of Microsoft and the Korea Chamber of Commerce and Industry to expand an incubation program designed to nurture young artificial intelligence specialists. Microsoft previously operated a pilot program in the southern city of Daegu in 2022 to incubate 47 students. For the past years, Microsoft has been collaborating with South Korea's administrative bodies, provincial governments, and private compa

June 27, 2023

​SK bioscience partners with Australian research institute to cooperate in influenza research

SEOUL -- SK bioscience, the developer of South Korea's first homemade COVID-19 vaccine, has partnered with an Australian research institute specializing in infection and immunization to carry out research projects in influenza biology, vaccines, and antivirals. The South Korean company aims to earn a competitive edge in the global influenza market through cooperation with the research group called the Peter Doherty Institute is affiliated with the University of Melbourne. Data

June 27, 2023

Food ministry urges companies to lower price of wheat flour to tackle high inflation

SEOUL -- To tackle high inflation, the South Korean government urged major food companies to lower the price of wheat flour, the basic ingredient in many food menus. The flour companies said that they would review the possibility of price reduction in flour and other flour-based products. South Korea imports about 99 percent of wheat mainly from Australia (1.18 million tons), the United States (1.14 tons), and Canada (246,190 tons). About $1.2 billion worth of wheat was imported in

June 27, 2023

LG Innotek reveals $994 mln investment plan to expand camera module factory in Viet Nam

SEOUL -- LG Innotek, the electronic component unit of South Korea's LG Group, will inject 1.3 trillion won ($994 million) to expand its manufacturing plant for camera modules in Hai Phong, an industrial port city in northeastern Viet Nam. The Viet Nam-based facility with about 3,500 employees mainly produces camera modules for smartphones. LG Innotek said in a statement that the investment would be made by its Vietnamese branch from July 2023 to December 2025. The company aim

June 26, 2023