State pension fund operator gestures at activating ‘stewardship code’ over companies

South Korean internet giant Naver released an update to its online translation service that is capable of rendering English into honorific Korean, as foreign users have often found it difficult to replace English words with formal and polite Korean expressions.　According to Naver on Thursday, users who update the company’s automated translation app, Papago, can receive translations in honorific Korean if they turn on the “honorific button” in the input box. 　Currently, the updated service is ava

Biopharma body urges governmental support for paradigm shift from local market to global

South Korean battery makers are lagging behind their rivals in China and Japan in electric vehicle battery competitiveness, a local think tank said Thursday. Korean car battery companies, such as LG Chem Ltd. and Samsung SDI Co., have witnessed their combined share in the global battery market plunge to 11 percent in 2018 from 30 percent in 2014, due mainly to a lack of captive buyers, the Korea Economic Research Institute said in a statement.  (Yonhap)"Unlike their Korean rivals, Chinese power

South Korea's oceans ministry said Thursday it will share marine robotics technologies developed by state-run institutions with local companies to cut the costs of renting foreign machines.The Ministry of Oceans and Fisheries and the Korea Institute of Ocean Science & Technology said they have decided to share three different marine construction robot technologies with local companies. (Yonhap)By sharing the technology, the oceans ministry said local firms could save more than 10 billion won ($8

Mercedes-Benz Korea, the Korean unit of the German carmaker, said Thursday that it would push future mobility this year and roll out the new EQC crossover, its first fully electric sport utility vehicle.Declaring 2019 as the “year of EQ,” the company said it would launch four new plug-in hybrid electric vehicles in addition to the new fully electric SUV, as well as nine new models and six facelifted ones to strengthen its product lineup.The exact local launch date remains undecided, the company

President Moon stresses government’s determination to make transition to a hydrogen economy

Hyundai Mobis, the car parts making arm of Hyundai Motor Group, said Thursday that it has partnered with telecommunication company KT to jointly develop connected car technologies. The companies have launched fifth-generation network service at Hyundai Mobis’ test ground in Seosan, South Chungcheong Province, in an effort to ramp up the drive for connected car research and development.A connected car refers to a car equipped with internet access, usually a wireless local area network. This allow

South Korean home appliance makers have showcased their latest lineup of air conditioners with artificial intelligence capabilities and advanced air purification features to target the premium market, industry sources said Thursday.Industry leader Samsung Electronics Co. unveiled its latest wind-free air conditioners that gently disperse cold air through micro air holes and saves energy with advanced inverters. (Yonhap)The new cooling system features Samsung's Bixby digital assistance to better

Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. said Thursday they will recall approximately 168,000 vehicles in the United States over defective fuel pipes.The recall involves fixing improper repairs during the previous two recalls over engine failures and offering software upgrades for the affected vehicles, the companies said. (Yonhap)The software update is designed to protect the vehicles from engine damage, and new extended warranties will be offered for engine problems, they s

LG Chem Ltd., a major South Korean EV battery maker, said Thursday that along with other global firms, it plans to use blockchain technology to trace and validate ethically sourced minerals.  In a bid to support human rights and environmental protection, as well as help infuse more transparency into global mineral supply chains, LG Chem, Ford Motor, Huayou Cobalt, IBM and RCS Global will begin with a pilot focused on cobalt and explore the creation of an open, industrywide blockchain platform th

South Korea's venture minister said Thursday that the government is committed to expanding support for startups, which eventually would jack up employment.Venture investment in South Korea is estimated at 3.4 trillion won ($3.04 billion) last year, which marks a hike of over 40 percent from a year earlier, according to Minister of SMEs and Startups Hong Jong-haak.(Yonhap)"For this year, state-involved venture investment funds will be boosted, and the government will encourage private investors t

Government seeks to grow data industry to W30tr by 2023

Biannual esports league “League of Legends” Champions Korea’s 2019 spring split season opened Wednesday, with SK Telecom T1 and Jin Air Green Wings going head-to-head in the first match at LoL Park in Jongno, Seoul.The 10 teams competing in this split, which will continue through March, are the Afreeca Freecs, Damwon Gaming, Gen.G, Griffin, Hanwha Life, Jin Air Green Wings, Kingzone DragonX, KT Rolster, Sandbox Gaming and SK Telecom T1.SK Telecom T1 and KT Rolster have garnered much attention, w