South Korean battery maker SK On said Thursday it has partnered up with US-based battery materials manufacturer Urbix to develop ecofriendly anode materials for electric vehicle batteries. Under the two years of joint development agreement, SK On will apply anode materials produced by Urbix using refined graphite to its lithium-ion batteries and work on improving battery performance. If success...

By Lee Young SMEs and Startups Minister With rapid growth led by large conglomerates, South Korea was able to be the world’s 10th largest economy. But now, startups are becoming another growth engine for the country, backed by the SMEs and Startups Ministry paving a powerful avenue for growing and developing high-potential firms. Fifty percent of Korean products that received the Innovation Aw...

Food and bakery giant SPC Group said Thursday that it has opened the first Paris Baguette store in Malaysia on a 264-square-meter site at the Pavilion Kuala Lumpur, the capital’s biggest shopping center in the heart of the major commercial district of Bukit Bintang. The latest store opening comes six months after a joint venture -- Berjaya Paris Baguette Sdn. Bhd. -- was launched in partnership w...

Hyundai Motor Group on Wednesday displayed Genesis X, a concept electric vehicle, at the Korea Night event held on the sidelines of the World Economic Forum in Davos, Switzerland, to promote the country's bid to host the World Expo 2030 in the southern port city of Busan, the automaker said Thursday. A total of 58 Hyundai Motor vehicles wrapped with the slogan "World Expo 2030 Busan, Korea" has b...

Hazardous substances were detected in Korean food company Nongshim's flagship ramen products to Taiwan, according to the Taiwan Food and Drug Administration Thursday. Nongshim's exports of Shin Ramyun Black Tofu & Kimchi cup noodles to Taiwan failed to pass the country's customs inspection, the TFDA said. According to the TFDA, 0.075 milligram per kilogram of ethylene oxide, or EO, had been fou...

Because the metaverse space was hyper-realistic and interesting, some of the online visitors came to see the real artwork once again offline in Miami, according to Gallery Stan CEO Song In-ji. Artists Sambypen and Mawz also appreciated the digital twin technology for having no time and space restrictions, as well as the advantage of having another creative shelf online. “I decided to participate...

South Korea’s imports of coffee soared nearly 45.1 percent in the first 11 months of 2022 from a year earlier. The value of the country’s coffee imports came to $1.19 billion in the January-November period, up 45.1 percent from the previous year, according to the data from the Korea Customs Service. It marks the first time that South Korea’s yearly coffee imports have exceeded $1 billion. Last ...

Investment banker-turned-professor calls on companies to use their expertise in solving social problems

The top 100 Korean companies in terms of sales invested a total of 5.44 trillion won ($4.3 billion) in environmental and safety efforts in 2021, the Federation of Korean Industries said Wednesday. The FKI analyzed the firms' environmental, social and corporate governance, or ESG, efforts based on the companies' own reports. The 100 firms' combined investment of 5.44 trillion won marked a 87.6 p...

Amogy, a US clean energy startup, has successfully conducted a test drive of the world's first ammonia-powered, zero-emission semi truck, SK Innovation said Wednesday. The semi truck secured 900 kilowatt-hours of net electric energy after eight minutes of fueling process that used Amogy's ammonia-to-fuel technology. SK Innovation invested $30 million in Amogy in June last year.

In winter, odors coming from coats and mufflers often don’t disappear, especially after meals in an enclosed space. Winter clothing comes from fabric made of porous fibers, therefore being kept in a state where odor-causing gas molecules are absorbed due to high moisture. Indoor ventilation is also difficult in winter, so odor molecules brought in from outdoors can linger and affect sofas and be...

Apple's earlier-than-expected adoption prompts speculation among rivals, suppliers

LS Cable & System, South Korea's top wire and cable maker, is revving up efforts to target the North American market for high-speed charging cables. The company said Wednesday it recently received the American UL Safety Certification for its high-speed electric vehicle charging cable. In Korea, high-speed EV chargers that supply over 400 kilowatts are required to use rapid liquid cooling cables...

Scientists have developed the world’s first technology to recycle clothing waste by converting discarded fiber into usable materials, the Korea Research Institute of Chemical Technology said Wednesday. A group of researchers led by Cho Joung-mo, a senior researcher at the KRICT, found a screening technology that can isolate recyclable materials from clothing waste by using the chemical character...

Woori Financial Group Chairman and CEO Son Tae-seung will step down from office when his second term ends in March. Son told the group’s next chairman selecting committee on Wednesday morning that he will not seek his third term, according to the Woori Financial Group. The chairman’s decision came before the committee’s meeting on Wednesday afternoon to finalize a “long list” of candidates for ...