LG Energy Solution partners with Australian lithium producer to secure EV raw material

SEOUL -- LG Energy Solution, the battery-making wing of South Korea's LG Group, has partnered with Australia's lithium producer WesCEF to receive lithium concentrate, a core raw material for electric vehicle batteries. The South Korean battery maker will secure up to 85,000 tons of lithium concentrate, enough for about 270,000 high-performance electric vehicles with a range of more than 500 kilometers (310.7 miles) on a single charge. Lithium concentrate serves as raw mat

February 14, 2024

30% of S. Korean teenagers believe marriage is necessary: survey

SEOUL -- Only about 30 percent of South Korean teenagers believe that marriage is necessary, according to data released by a state-operated youth policy institute. The perception of marriage among teenagers has shifted over the past decade in a country where the fertility rate has plummeted from 1.24 in 2015 to 0.7 in 2023. South Korea is rapidly aging and is expected to face rapid depopulation in 2025 when the fertility rate drops to 0.65. While the country's administrative b

February 14, 2024

S. Korea and Colombia agree on mutual airworthy certification program for military aircraft

SEOUL -- South Korea's arms procurement agency has partnered with Colombia's defense authority to jointly roll out a mutual airworthiness certification program for military aircraft. The mutual certification program will reduce the time taken in the verification process for the safety of military aircraft. The airworthiness certification is designed to ensure the safety of an aircraft and evaluate the essential criteria for its design, production, and operation. Colombia i

February 14, 2024

SK Telecom to provide AI-based imaging assistant service 'X Caliber' for animal hospitals in Australia

SEOUL -- South Korea's major mobile carrier SK Telecom partnered with Australia's major medical device distributor ATX Medical Solutions, to supply "X Caliber," an artificial intelligence-based veterinary imaging assistant service to animal hospitals in Australia. The assistant service helps animal doctors read and diagnose images quickly. X Caliber, commercialized in September 2022, detects abnormalities in dogs' musculoskeletal system, heart, and chest in a

February 13, 2024

S. Korea's EV adoption rate reaches 9.3% in 2023

SEOUL -- Data released by the Ministry of Land, Infrastructure and Transport revealed that approximately nine percent of newly purchased vehicles in South Korea in 2023 were electric vehicles. As of now, there are over 200,000 EV chargers installed across the country, indicating a ratio of two EVs for every charger. South Korea mandates that new buildings constructed after January 28, 2022, allocate at least five percent of their total parking spaces for EV chargers. Similarly, ol

February 13, 2024

S. Korean comics garner explosive popularity in Thailand: report 

SEOUL -- Recent data released by South Korea's government body charged with governing cultural content showed that South Korean comics were especially popular among Thai consumers. The report showed that South Korean comics accounted for about 47 percent of the total comics consumption in Thailand, the highest rate among the nine countries, which include the United States, France, China, Japan, Indonesia, Viet Nam, Russia, and the United Arab Emirates. In a survey of 1,516 peo

February 13, 2024

Lotte's TV home shopping channel adopts virtual fashion model targeting young consumers

SEOUL -- The home shopping channel of South Korea's conglomerate Lotte has selected virtual model Lucy as the host for a TV show designed to promote popular fashion brands for young consumers. The virtual human with about 171,000 Instagram followers interacts with viewers on Lotte Homeshopping's weekly TV show "Lucy Talk Live" to sell trendy fashion items, such as sweaters and zip-up hoodies. Lucy, created by synthesizing a face with an image of a real per

February 13, 2024

Hyundai and Kia cars top maximum range test for EVs

SEOUL -- Three electric vehicle models released by Hyundai auto group have dominated a range evaluation test conducted by an American online automotive information company. Data released by the automotive website Edmunds on February 12 showed that Hyundai's Ioniq 6 rear-wheel-drive (RWD) model topped the list for the test for maximum electric vehicle range. This EV model recorded a maximum range of 1,396 kilometers (867 miles) with one hour of charging. Kia's EV6 RWD mo

February 13, 2024

SK On partners with US graphite company to prepare for Inflation Reduction Act  

SEOUL -- SK On, the battery-making unit of South Korea's third-largest conglomerate SK Group, has partnered with Westwater Resources, a United States-based graphite producer, to secure natural graphite, one of essential materials for electric vehicle batteries. The two sides' partnership is in response to the U.S. government's Inflation Reduction Act. The inflation reduction act (IRA), which was signed into law by President Joe Biden in August 2022, offers tax credit

February 12, 2024

S. Korean defense industry secures $42 mln export deal from Middle East through online counseling

SEOUL -- South Korean companies secured an export deal worth about $42 million through online business counseling before presenting their solutions at a major defense exhibition in the Middle East. After the online consultation, the domestic firms took part in the defense event in Saudi Arabia, with more than 700 exhibitors from over 45 nations. According to KOTRA, a state-run trade promotion agency, 15 South Korean companies advised 24 Middle Eastern buyers ahead of the "Wor

February 12, 2024