40% of S. Korean startups stranded in tougher situation than 2022: survey

SEOUL -- About 40 percent of South Korean startups feel that they are put in a tougher situation than it was a year ago, a survey showed. Startups said the main reasons for the hardships in the operation of companies were reduced investments, increased operation costs due to raw materials price hikes, and lack of manpower. According to data released by the startup ministry, there were some three million startups in operation as of 2020. 22 percent of startups were technology-based, mea

October 19, 2023

LIG Nex1 partners with German weapon maker Diehl Defence to produce 'IRIS-T' missiles in S. Korea

SEOUL -- LIG Nex1, a defense contractor in South Korea, has partnered with German weapon manufacturer Diehl Defence to establish production and maintenance infrastructure for "IRIS-T," an air-to-air missile made by the German arms maker, in South Korea. The short-range missile is set to be integrated with South Korea's homemade fighter jet KF-21. Diehl Defence led the IRIS-T development project which involves members of the North Atlantic Treaty Organization (NATO). T

October 19, 2023

Biotech seminar held in Seoul to promote biotechnology cooperation between S. Korea and Brazil

SEOUL -- At a seminar designed to promote biotechnology cooperation between South Korea and Brazil, researchers and business operators from the two countries shared know-how in vaccines and biopharmaceuticals. The media conference, hosted by the Brazilian Embassy in Seoul, focused on Brazil's state project to expand vaccine access to the general public through research and development cooperation with South Korea. "The seminar aims to find a way to collaborate in the fields o

October 18, 2023

Food maker Nongshim to invest 10 bln won for incubation of food technology startups

SEOUL -- To incubate food technology startups, South Korea's major food maker Nongshim will invest five billion won ($3.7 million) each in two funding projects for startups. The funding projects will be operated by domestic venture capital investment companies Stonebridge Ventures, and IMM Investment. Nongshim is South Korea's iconic food company that is well-known for its best-selling lineups of instant noodles and snacks. South Korean instant noodles called Ramyeon have g

October 18, 2023

[OPINION] Could North Korea launch a Hamas-like attack?

SEOUL -- The recent surprise attack by the Palestinian militant group Hamas on Israel has prompted a serious question in Korea about our own security. Could Kim Jong-un, who supports Hamas, be inspired to launch a similar offensive and, if so, are we sufficiently prepared and armed to repel it? There are good reasons to make the comparison. Israel was created in the

October 18, 2023

[OPINION] Middle East Explodes Again with Hamas Terrorism

KENOSHA --The massive, deadly Hamas attacks on Israel are rightly condemned by the United States and many nations in the world, though unfortunately not all. Beyond the shocking s

October 18, 2023

Lotte Mart to attract wine and whisky lovers through special sale event

SEOUL -- Lotte Mart, the mega-mart franchise operated by South Korea's confectionary giant Lotte Group, will seek to attract wine and whisky lovers through a special autumn sale event. While wine maintains its position as one of the country's favorite alcoholic beverage types favored by middle-aged consumers, whisky has garnered explosive popularity among young consumers in their 20s and 30s during the last five years. Whisky was the icon of old people's drinking culture

October 18, 2023

​Hyundai Wia partners with brother company to develop flying taxi landing systems

SEOUL -- Hyundai Wia, a parts-making wing of South Korea's Hyundai auto group, forged a partnership with Supernal, an independent urban air mobility company set up by Hyundai's United States office, in a bid to develop special landing systems for flying taxis. Urban air mobility (UAM) is infrastructure for commercial flying passenger vehicles that includes vertiports and control towers. Aerial vehicles are required to fly through designated aerial corridors to prevent acciden

October 18, 2023

​Coupang launches free warranty service for some 400 categories of home appliances

SEOUL -- Coupang, the South Korean counterpart of Amazon, has taken a bold step to solidify its position as the top player in the country's red ocean ecommerce market. The company released a free warranty service for customers who buy home appliances through Coupang's one-day "Rocket Delivery" program. Launched in 2010, Coupang started off as a social media-based online shopping mall that offers cheaper products. The company adopted the Rocket Delivery system that u

October 18, 2023

CJ Cheiljedang releases plant-based dumpling in Britain and Australia

SEOUL -- CJ Cheiljedang, a key subsidiary of South Korea's food and entertainment conglomerate CJ Group, has rolled out plant-based dumpling products in Britain, Australia, and Singapore. The plant-based products can be easily cooked using a microwave as they are provided with dumpling trays. The products are included in Cheiljedang's premium ready-to-cook product brand "Bibigo." The food company has nurtured Bibigo as a global brand. The brand has various food it

October 18, 2023