Business
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Samsung promotes new 8K TV at London's iconic square 'Piccadilly Circus'
SEOUL -- Samsung Electronics has promoted its new Neo QLED 8K, a TV model with a powerful picture processor, through an outdoor billboard at Piccadilly Circus, a famous square in London with various cinemas, theaters, restaurants, and pubs. Samsung's existing Neo QLED models can make dark areas darker and bright areas brighter by increasing the luminance scale. The Neo QLED 8K TV models are known for supporting larger bandwidth loads, processing faster multi-gigabit data, enabl
March 6, 2023 -
Pulmuone opens second vegan restaurant to expand vegan business
SEOUL -- Targeting South Korea's steadily growing vegan population, Pulmuone Food & Culture, the cafeteria service management wing of Seoul-based food company Pulmuone, will beef up its vegan food business through the second vegan restaurant called "Plantude." Customers can enjoy various plant-based food at the restaurant such as salad and a tofu dish that contains black olives and cherry tomatoes. Thanks to increased awareness of health and well-being, the num
March 6, 2023 -
SK Innovation's petrochemical wing makes equity investment into pyrolysis startup
SEOUL -- SK Incheon Petrochem, a petrochemical wing of South Korean conglomerate SK Group's intermediate holding company SK Innovation, made an equity investment into LD Carbon, a domestic startup specializing in pyrolysis that uses discarded car tires to extract oil. The pyrolysis technique uses extreme heat and pressure to break down plastics or polymers such as rubber to extract oil, carbon black, and combustible gases. Carbon black is a solid carbon material that can be use
March 6, 2023 -
Major S. Korean construction companies focus on overseas projects due to slowed domestic market
SEOUL -- Major Korean construction companies are seeking opportunities to expand into overseas markets. With concerns rising about the sluggishness of the domestic housing market due to market deterioration, the impact of high-interest rates, and rising raw material prices, the companies are turning their attention to overseas markets as the domestic market is expected to slow down. According to the International Contractors Association of Korea on March 2, the cumulative amount of
March 3, 2023 -
Hyundai auto group's vehicles garner explosive popularity in U.S.
SEOUL -- Vehicles made by South Korea's Hyundai auto group are gaining explosive popularity in the United States. Monthly sales of Hyundai vehicles in February 2023 soared 16 percent compared to the same period a year ago in the U.S. market, selling a total of 122,111 units. According to data released by Hyundai Motor America, Hyundai Motors sold 57,044 units only in February, up nine percent from a year ago. Hyundai's American office said most sold vehicles include Elantr
March 2, 2023 -
South Korea to cut heavy reliance on China for key minerals to secure stable supply
SEOUL -- South Korea plans to cut its heavy reliance on China for key minerals, including lithium, nickel and graphite, from the current 80 percent to 50 percent by 2030 by creating stable mineral supply chains with 30 major resource-rich countries. On February 27, the Ministry of Trade, Industry and Energy announced the plan after holding a meeting with representatives of automakers and secondary battery producers, including Hyundai Motor Co., Samsung SDI, LG Energy Solution, and
February 28, 2023 -
Non-consumption expenditure accounts for 26.5% of total household spending in 2022
SEOUL -- Non-consumption household expenditure including tax and interest payments accounted for more than a quarter of entire household spending last year, the Korean Statistical Information Service (KOSIS) said February 27. The average non-consumption household expenditure was estimated at 951,000 won ($719) in 2022, up 8 percent from a year before, according to the KOSIS affiliated with Statistics Korea. The sum represented 26.5 percent of total average household spending of 3.5
February 27, 2023 -
Korean-built No. 3 reactor starts commercial operation in UAE's Barakah nuclear plant
SEOUL -- The United Arab Emirates (UAE) has launched the commercial operation of the third reactor of the Barakah nuclear power plant built by South Korea, the Korea Electric Power Corp. (KEPCO) said February 26. The operation started February 24, eight months after the UAE issued an operating license and completed the process of inserting fuel rods into the reactor in June 2022, according to the state-run unitality company. The Barakah plant, located 270 kilometers west of Abu
February 27, 2023 -
South Korea faces vicious cycle of snowballing trade deficit, falling won, high inflation
SEOUL -- The South Korea economy is likely to slip into a vicious cycle of a snowballing trade deficit, a weakening Korean won against the U.S. dollar, and soaring inflation. According to the Korea Customs Service, the country suffered a trade deficit of $18.63 billion (24.56 trillion won) so far this year until February 20. The sum was 2.7 times the $6.98 billion shortfall the country posted a year before. In the first 20 days of February, the deficit was estimated at $5.98
February 27, 2023 -
Kakao's AI development wing to kick-start $7.6 mln fund to commercialize hyperscale AI
SEOUL -- Kakao Brain, the artificial intelligence development wing will kick-start a fund worth up to 10 billion won ($7.6 million) during the first half of 2023 to commercialize the company's AI-based image generation application. Hyperscale AI refers to AI technologies and techniques at a massive scale to solve complex problems and process an enormous amount of data. Hyperscale AI is often used in natural language processing and AI-based image generation. AI image generat
February 27, 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