Volvo Group said Thursday it has entered into a strategic alliance with Samsung SDI to develop battery packs for electric trucks. The Swedish automaker said the alliance will cover joint development of battery packs specifically developed for its models. While Samsung SDI intends to provide battery cells and modules to meet the demand for the automaker’s electric trucks, Volvo will utilize the battery pack technology for assembly in its plants. “The alliance with Samsung SDI is

　Some South Korean app developers have accused internet giant Naver and Japanese subsidiary Line of plagiarism, saying the companies copied their user interface designs.　Carrot Market, an app used for buying and selling secondhand items, said Line introduced a similar app in Vietnam last year and plagiarized Carrot Market’s design and features.　Line’s Get It app is “extremely similar” to Carrot Market in terms of everything from the main display to the identification meth

　With companies around the world seeking to incorporate 5G network technology with augmented reality contents, South Korea’s leading mobile carrier has come up with an entertaining marketing gimmick to demonstrate the combination’s potential usage in real life. 　Korea’s biggest mobile carrier SK Telecom announced Thursday that it will establish an AR-based Jurassic World at some parks in Seoul. The company said it had agreed with the animated dinosaur’s property owner, NB

Ten suspects behind the illegal manufacturing and distribution of counterfeit facial masks, which used pictures of actor Song Joong-ki without permission, were arrested on charges of trademark infringement, the Korean Intellectual Property Office said Thursday.The suspects had distributed more than 6 million sheets of counterfeit facial masks worth 20 billion won ($17.29 million) since April 2017, according to the Special Judicial Police under KIPO. All the products were seized upon their arrest

KCCI chief urges political unity to support Moon on trade dispute 　

Kia Motors began selling its new compact sports utility vehicle Seltos on Thursday, which the automaker called it a “game changer” in the global small SUV market which has doubled in size over the last five years. The Seltos, which was unveiled in India last month, can be characterized by its spacious interior with 498 liters of trunk space and a relatively long car body at 4,375 millimeters -- the longest in the small SUV category, according to Kia. &ld

Two South Korean duty-free operators have cemented their positions in the world's top five travel retailers in 2018, an industry report showed Thursday.Lotte Duty Free maintained its second spot with 6.09 billion euros ($6.84 billion) in sales last year, due largely to the Chinese resellers who buy products in large quantities and sell them back home, according to the Moodie Davitt report. Shilla Duty Free, the operator of the duty-free shop owned by South Korea's Hotel Shilla Co., leaped f

South Korea’s major mobility startups raised their voice against the government’s latest plan to overhaul the controversial ride-sharing business here, saying Wednesday that the envisioned rules favor taxi drivers and bigger firms.In a statement released after the Transport Ministry announced its reform plan for the country’s mobility industry, VCNC, which runs the popular ride-hailing service Tada, said the government’s plan would only build higher barriers and prevent s

Annual KCCI Jeju forum kicks off with top business leaders, including SK chairman, Samsung vice chairman

A research team led by Kim Kyung-rok at Ulsan National Institute of Science and Technology successfully implemented the world’s first ternary semiconductor design on a large wafer, which will help development of low-power and high-computing microchips in the future, according to Samsung Electronics on Wednesday.  The ternary semiconductor architecture is expected to contribute to developing high-computing chips that are essential for artificial intelligence, autonomous driving, the in

Global credit rating agency Moody’s Investors Service said Wednesday that it has assigned South Korean construction and petrochemical company Daelim Industrial a Baa2 grade with a stable outlook. According to Daelim Industrial, it is the first construction company in Korea to be given a global rating. On Moody’s rating scale, Baa2 stands ninth out of 21 and is considered a medium grade, indicating a moderate credit risk. SK hynix and S-Oil have been assigned the same rating.“Da

Shares of local material firms surge in anticipation of localization

The Korea International Trade Association said Wednesday that it would open a consulting and research center to support small and midsized enterprises in Korea within the second half of this year.According to KITA, the opening of such center, dubbed Center for Trade Information and Strategy, is to offer useful help for small and midsized companies which often encounter trade risks due to lack of personnel and material resources.  KITA said the center will run strategic and customized consul

South Korean exports of environment-friendly cars, such as hybrid and electric vehicles, soared over the seven years ending last year as global demand shifted away from combustion-engine cars, industry data showed Tuesday. The data from the Korea Automobile Manufacturer Association showed that from 2012 to 2018, the country’s automotive exports fell by an annual average of 4.2 percent, but exports of eco-friendly cars rose by an average of 33.1 percent per year.A total of 196,000 eco-

South Korean energy-to-industrial equipment company Doosan Corp. has agreed with UK-based Ceres Power to develop solid oxide fuel cell power systems for commercial buildings here, the companies said Tuesday.The two signed a collaboration and licensing agreement to jointly develop SOFC power systems targeted at the Korean commercial buildings market, in which the two see business potential alongside the Korean government’s plan of increasing the use of fuel cell electric systems in autos, f