Business
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Chinese electric truck target S. Korean consumers with full customer service and loner driving distance
SEOUL -- Top Chinese electric vehicle maker BYD has taken its bold step into South Korea, the turf of carmakers like Hyundai and Kia, with its one-ton-class electric truck targeting small-and-medium-sized business operators and small-sized cargo deliverymen who drive old combustion engine trucks that are not allowed to enter city areas because of carbon emissions regulations. While pickup trucks are favored in the North American and South American markets, one-ton-class and 1.5-ton
April 7, 2023 -
LG Chem partners with CJ Logistics to recycle discarded packaging wraps collected at distribution facilities
SEOUL -- LG Chem, a chemical unit of LG Group, has partnered with CJ Logistics, South Korea's major logistics company, to recycle packaging wraps used at distribution centers. The chemical company will create recycled wraps and supply them back to the logistics company. According to data cited by LG Chem, most wraps used for packaging in South Korea are used to fasten loads at logistics centers and other industrial sites. Most wraps are made of PET (polyethylene terephthalate).
April 6, 2023 -
HD Hyundai Construction Equipment pushes to achieve 100% renewable energy electricity at overseas branches
SEOUL -- The Indian branch of HD Hyundai Construction Equipment, affiliated with South Korea's leading Hyundai shipbuilding group, has partnered with India's solar power generation company Ravindra Energy to expand the company's solar power generation capability to achieve 100 percent renewable electricity. RE100 is a global initiative designed to encourage businesses to achieve 100 percent renewable electricity through renewable energy sources such as solar power plant
April 6, 2023 -
Kia reveals big plan to accelerate electrification of vehicles to sell 2.3 mln eco-friendly cars by 2030
SEOUL -- Kia, a South Korean carmaker affiliated with Hyundai Motor, has revealed a big plan to go full throttle on the electrification of its vehicle lineups in a bid to capture the global future clean energy vehicle market. The world's clean energy vehicle market, mainly dominated by electric vehicles (EVs), is growing at a whopping speed of an average annual growth rate of about 55 percent to reach 10.2 million units sold in 2022, according to global market research firm Cou
April 6, 2023 -
Samjin Pharmaceuticals partners with Viet Nam's OPC Pharmaceutical JSC to sell drugs and health supplements
SEOUL -- South Korea's Samjin Pharmaceuticals has partnered with Viet Nam's OPC Pharmaceutical JSC to supply and distribute drugs and health supplements in the Vietnamese market which stood at $7.5 billion in 2021 and growing at an average annual growth rate of about six percent. Samjin Pharmaceuticals, established in 1968, is domestically well-known for its painkiller brand Geworin and other drugs including antithrombotic drug Plalis and hyperlipidemia drug Neustatin Duo.
April 5, 2023 -
Samsung to establish $3.1bln display cluster for world's first 8.6th-gen OLED panels in southern province
SEOUL -- Samsung Display, a major flat panel maker in South Korea, will establish a display production cluster in South Chungcheong Province for the production of the world's first 8.6th-generation organic light-emitting diode flat panels. 4.1 trillion won ($3.1 billion) will be invested to create a production complex with an annual capacity of 10 million OLED display units by 2026. South Korea has been the leading country in the world's liquid crystal display (LCD) and org
April 5, 2023 -
State financial watchdog releases mobile banking practice app for elderlies
SEOUL -- In an effort to reduce the information gap between young people and elderlies, South Korea's financial watchdog has released a smartphone app that old people can use to familiarize themselves with mobile banking apps. South Korea with some 1.5 billion registered online and mobile banking users recorded a daily online transaction of about 75 trillion won ($5.7 billion) in the first half of 2022, according to the country's central bank. Smartphone users rely on mobil
April 4, 2023 -
China's Aliexpress becomes S. Korea's most-downloaded ecommerce app in February
SEOUL -- Aliexpress, an online shopping mall app service operated by China's online shopping giant Alibaba, was the most-downloaded ecommerce app in South Korea in February, overtaking Karrot, a South Korean secondhand item trading app with some 18 million monthly active users. Karrot, also known as Danggeun Market, was launched in 2015 as a secondhand item trading platform that matches sellers and buyers who live within a radius of about six kilometers (3.7 miles). The app g
April 4, 2023 -
Daebo to host charity concert at golf course in northern city of Paju
SEOUL -- Daebo Group, a medium-sized conglomerate in South Korea, will host a free charity concert at a golf course in the northern city of Paju. Various K-pop artists such as BTS and singer-actress IU participated in the annual donation event where fairways were recreated into a concert hall and a playground. Daebo said in a statement that the 19th Seowon Valley Charity Green Concert would begin on June 3. The company said the event, which first started in 2000, is designed to r
April 3, 2023 -
S. Korean mega-marts choose to shorten operating hours due to changes in consumer patterns
SEOUL -- South Korean major mega-mart brands chose to gradually shorten the operating hours of their stores due to changes in consumer patterns. Through a strict social distancing campaign that was rolled out in early 2020 to prevent the spread of COVID-19, more consumers started to use online shopping malls, including the shops operated by megastores instead of visiting crowded offline stores. The COVID-19 pandemic brought a significant change in South Korean consumers' shoppi
April 3, 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