Business
-
Hybrid model of Hyundai's new full-sized sedan Grandeur garners popularity in S. Korea
SEOUL -- About 40 percent of consumers who buy the latest model of Grandeur, Hyundai's full-sized sedan also known by the name of Azera in foreign markets, choose the hybrid option, data released by the South Korean carmaker showed. Grandeur, first released in the domestic market through collaboration with Japanese carmaker Mitsubishi in 1986, gained iconic recognition among South Koreans as the "car of a successful person." The full-sized sedan was popular among busi
March 27, 2023 -
SK geo centric to build new ethylene acrylic acid polymer factory in China
SEOUL -- SK geo centric, a chemical company affiliated with South Korea's SK Group, will build an ethylene acrylic acid copolymer acid factory with an annual production capacity of some 50,000 tons in China by 2028. SK geo centric currently has two factories running in the United States and Spain and recently signed a memorandum of understanding with China's Satellite Chemical for a third plant. Ethylene Acrylic Acid copolymer is the key adhesive material in flexible packag
March 24, 2023 -
S. Korean pet supplies companies offer discount events on Puppy Day
SEOUL -- South Korean pet supplies companies are hosting various events and offering discounts on Puppy Day to attract dog owners. The domestic pet market, which stood at about $1.4 billion in 2021, is projected to reach $3.5 billion in 2023. Dogs are currently the most owned pet type in South Korea. Puppy Day, which is celebrated on March 23, was created by American pet expert Colin Page to raise awareness about abandoned dogs. On March 23, LabiVet, a nutritional supplement br
March 23, 2023 -
SK innovation leads $139 mln funding in US ammonia-based energy solutions developer Amogy
SEOUL -- As part of its strategy to establish a green portfolio, SK innovation affiliated with South Korea's SK group invested an additional $50 million in Amogy, an ammonia-based energy storage system developer based in New York. The U.S. startup has secured $139 million through the second round of investment led by SK Innovation. Ammonia, which is produced through a chemical reaction between hydrogen and nitrogen, is considered an important part of a sustainable ecosystem. It
March 23, 2023 -
Samsung to collaborate with Naver by interlocking digital payment services
SEOUL -- Samsung Electronics has interlocked its Samsung Pay, a smartphone payment system mainly used at the point-of-service at offline stores, with Naver Pay, an online payment service operated by South Korea's web service giant Naver, to help digital payment users make simple and convenient payments at online and offline stores. Samsung Pay introduced in 2015 uses a magnetic secure transmission (MST) technique to have a Samsung smartphone mimic the magnetic strips of differe
March 23, 2023 -
LG Chem provides reverse osmosis filters for China's salt lake lithium extraction project
SEOUL -- LG Chem has supplied some 10,000 reverse osmosis membrane filters for a lithium extraction project led by CITIC Group, a state investment firm in China. Using LG Chem's filters, the project operator can produce about 20,000 tons of lithium carbonate, which can be used to manufacture batteries for about 500,000 electric vehicles. Reverse osmosis (RO) is a process of removing salt and other substances from water through a semi-permeable membrane. RO membranes are favored
March 23, 2023 -
South Korea's online luxury goods market shrinks due to inflation and change in consumer trends
SEOUL -- South Korea's online luxury goods market which thrived during the COVID-19 pandemic has shrunk after the country took steps such as lifting regulations on compulsory face masks at public places to normalize people's lives through the so-called "reopening" process. South Korea's online luxury goods market mainly comprised of online commerce platforms and secondhand luxury goods trading services hit its prime in March 2022. The number of monthly active
March 22, 2023 -
KT partners with parking control system provider to make foray into smart parking business
SEOUL -- South Korea's major telecom company KT has partnered with Amano Korea, a parking control system provider, to make its first step into the smart parking service market. Although the adoption of autonomous vehicles has gained momentum in South Korea, human drivers are mainly still in charge of parking to prevent unexpected situations. Smart parking incorporates artificial intelligence (AI), big data, and cloud computing to improve parking efficiency. The solution connect
March 22, 2023 -
Ecommerce giant Coupang to adopt more tailor-made electric delivery trucks
SEOUL -- In a bid to reduce operating costs and carbon emissions, Coupang, the South Korean counterpart of Amazon, will adopt more electric delivery trucks that are tailor-made to meet the ecommerce giant's special requirements. Coupang, popular among busy working people and housewives for its overnight fresh grocery deliveries, rolled out electric delivery trucks in the southeastern parts of South Korea for the first time as an ecommerce delivery service operator in 2019. The
March 22, 2023 -
Hyundai unveils automatic charging robot for electric vehicles
SEOUL -- To ease electric vehicle drivers' hassle of having to plug a charging cord into their cars every time, South Korean carmaker Hyundai has developed an intelligent robot that can communicate with vehicles and automatically connect a car to a charger. Currently, electric vehicle (EV) drivers have to park their cars in a parking lot section where EV chargers are installed and manually plug the charger cord into their vehicle. The process is simple but it gets tr
March 22, 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