Huawei Technologies Korea will maintain its commitment to accelerating Korea’s digital transformation momentum by providing safer and more innovative products and solutions industrywide, the company’s top executive said Wednesday. “We will help the Korean ICT industry develop more actively in the future by introducing our outstanding research and development achievements and experiences in various sectors, including artificial intelligence, 5G network and cloud computing, to th

LG Energy Solution said Thursday its US subsidiary has landed 10 power grid supply deals in the fast-growing US energy storage system market since its launch last year. The projects' total energy storage capacity amounts to 10 gigawatt-hours, the firm said. Based in Texas, LG Energy Solution Vertech provides energy storage system integration services ranging from business solutions to installation, maintenance and repair. The venture was set up in February 2022 after the battery manufacture

　South Korea’s exports of dried seaweed - “gim” in Korean - and cooked rice reached an all-time high during the first 10 months of this year on brisk overseas demand accompanying the popularity of Korean culture and food, the Korea Customs Service said. 　Outbound shipments of gim came to a record high of $670 million in the January-October period, up 20.4 percent from a year earlier, according to the data by the customs agency. 　In terms of volume, gim exports rose 17.3 perc

Kakao Pay, the online payment unit of South Korean tech giant Kakao, has axed plans to expand its ownership of stocks of US brokerage firm Siebert Financial amid ongoing regulatory risks at Kakao. The tech firm said in a public disclosure Wednesday it has arrived at a mutual consensus with Siebert to end their agreement to purchase a second round of stocks in the company, which had been slated to happen next year. Kakao Pay in May purchased a 19.9 percent stake in the New York-based firm through

The Kia Carnival, a top choice for a family vehicle in South Korea, reflects the classic American family minivan. Three years after the success of the fourth generation, Kia is upping its game with a revamped Carnival lineup, most notably with its first-ever hybrid model that tackles the vehicle's main shortcoming: fuel efficiency. The hybrid model, entering its precontract phase last month alongside other models, has quickly attracted consumer attention, with hybrids making up 70 percent o

Dominance of giant e-commerce firms, international players' entry transform domestic logistics market

The Incheon International Airport Corporation has unveiled its vision for the upcoming year, aiming to further digitalize the airport's systems and services for the convenience of passengers. "We have designated 2024 as Incheon Airport's year of digital transformation," Incheon International Airport Corp. CEO Lee Hag-jae said during a press conference held at the airport, on Wednesday. "Our objective is to integrate cutting-edge technology into airport services at both t

SK Broadband, a major South Korean internet service provider, said Wednesday it is introducing an internet protocol television, or IPTV, service using artificial intelligence that aims to provide more tailored content to users. Under the goal of becoming the paid broadcasting market leader, SK's IPTV platform B tv provides hyper-personalized services to users by analyzing and predicting their lifestyles using AI technology. "Starting with the launch of 'AI B tv,' we aim to gr

Automaker speeds up generation shift with focus on technical experts

Plant would have annual capacity for 600,000 high-performance EVs

South Korean battery materials manufacturer EcoPro said Wednesday it has decided to establish a foundation for arts and culture in provinces beyond the Seoul area. While the nation’s investment in arts and cultural infrastructure is usually concentrated in Seoul, the foundation aims to seek a balanced development in provinces. EcoPro will later diversify its philanthropic portfolio to educational sectors, the firm added. EcoPro will first contribute some 100 billion won ($76.96 million) to

South Korean conglomerates are skipping official year-end ceremonies and recommending employees to take their annual leave to close out 2023. Samsung Electronics, the country’s largest conglomerate, is rounding out the year without any official year-end ceremony -- or "jongmusik" in Korean -- according to a Samsung official. The conglomerate will hold an official ceremony to kick off the new year -- or "simusik" -- on Jan. 2, 2024, bringing together top executives and e

South Korean food and beverage manufacturer Dongsuh Foods welcomes customers to experience a cozy winter at Maxim Plant, a cultural center with a cafe featuring its flagship coffee brand. Located in Hannam-dong in central Seoul, the cultural space was opened in 2018, with the aim of introducing its coffee brand Maxim. Calling itself “a garden in the city, a coffee factory in the forest,” Maxim Plant is a dedicated space to display its roasting expertise and manufacturing process, whi

LS Cable & System, South Korea’s leading cable manufacturer, said Wednesday that it has become the first in the industry to develop a new raw material for copper foil, accelerating its expansion into rare earth element and green businesses. CuFlake marks the world’s first case of utilizing copper metal pieces instead of copper wire to produce copper foil which is widely used in electric vehicle components and mobile gadgets. The company recently completed a successful sample te

Supernal, Hyundai Motor Group's US-based urban air mobility firm, will take part in CES 2024, slated for January in Las Vegas, for the first time and exhibit its electric vertical takeoff and landing vehicle concept model. Hyundai Motor Group said Supernal will present its strategies to set up an ecosystem of advanced air mobility in the future at a media presentation on Jan. 9. (Hyundai Motor Group)