After the anchor was lifted for a boat test ride off Incheon waters, captain Lee Jun-sik at Avikus, a local autonomous navigation software venture, turns to a tablet PC, not the helm, to steer the boat. Lee simply types in where he wishes to go and then the system automatically comes up with the best and safest route. “The route planning of the system comes after processing obstacles and marine-related data. Once the route planning is done and we touch this play button on the tablet, the

Global launch of ifland planned in H2

South Korea’s food expiration labeling system is set to change for the first time in 38 years, starting January, under a new policy measure to reduce food waste. The revised bill on the food labeling and advertising act that passed last August replaces the current “sell-by” dates with “use-by” dates. Sell-by dates denote the time period in which a retailer must get its products off the shelves, while use-by dates tell consumers up to what point a product can be sa

United States Treasury Secretary Janet Yellen is poised to hold talks with South Korea‘s key financial policymakers, raising market expectations of a possible currency swap amid the growing strength of the US dollar against the local currency.　 Her two-day visit to Korea on July 19-20 will take place immediately after the Group of 20 Finance Ministers and Central Bank Governors Meeting in Bali, Indonesia, scheduled from Friday to Saturday. During her visit, the secretary will also visit L

Under a new vision called “Green Connector,” South Korea’s leading chemicals maker LG Chem is expanding activities to help resolve environmental and social problems. To raise awareness of the importance of biodiversity, the company has refurbished the Bamseom Ecological Experience Center on Mapo Bridge over the Han River, which it built with the Seoul city government in December 2018.  LG Chem also began an online mentoring program, “Like Green,” with college

South Korean chemical firm SK Innovation said Wednesday it has made a $20 million equity investment in US renewable fuels firm Fulcrum BioEnergy. Fulcrum has commercialized a process to produce synthetic oil for transportation by gasifying household waste. With the fresh capital, Fulcrum is expected to reach Asian markets, including Korea, under an exclusive licensing agreement with SK Innovation. Fulcrum began its initial operations of its inaugural biorefinery, the Sierra BioFuels Plant l

　South Korea has captured the No. 1 spot in global shipbuilding orders for the first time in four years on the back of rising demand for high-priced vessels, such as liquefied natural gas carriers and container ships, data showed. 　The country’s shipbuilders secured a total of 9.79 million compensated gross tons (CGTs) during the January-June period, accounting for 45.5 percent of the orders placed worldwide, the Ministry of Trade, Industry and Energy said, citing data from Clarkson Rese

South Korea's antitrust regulator has conducted an on-site probe into internet giant Naver and e-commerce firm Coupang over their allegedly exaggerated or deceptive advertising practices, industry sources said Tuesday. The Fair Trade Commission (FTC) recently sent staff to the headquarters of the two companies located in Seongnam, south of Seoul, and Seoul's eastern ward of Songpa, respectively, to investigate the allegations that they engaged in illegal advertising practices. Naver is suspec

Management and unionized workers of South Korea's top automaker Hyundai Motor Co. reached a tentative wage deal on Tuesday, averting a labor strike for the fourth consecutive year. The two sides agreed to a 98,000 won ($74.80) increase in basic monthly pay, the construction of a new electric vehicle (EV) factory in South Korea and more new hires, among other things, during their 16th round of negotiations held in Ulsan, some 310 kilometers southeast of Seoul. It marked the fourth consecutive

Korean logistics venture DSF L&I has signed a memorandum of understanding with a non-profit organization Eurasian Business Association to implement relief and restoration projects in Ukraine, the company said Tuesday. The signing ceremony was held last month during a seminar on humanitarian aid and post-war recovery in Ukraine that took place in On General Hospital, Busan, it added. The seminar was co-hosted by the Ukraine Support Joint Task Force, Green Doctors Foundation and Eurasian Bu

Dunamu, the operator of local crypto exchange Upbit, will invest 500 billion won ($380 million) to create 10,000 new jobs for the next five years. The blockchain company plans to nurture 500 promising startups and create around 8,000 new jobs to operate startup counseling programs, according to Dunamu on Tuesday. Startup counseling programs include “UP Start Incubator” to help those working with Web 3.0, a decentralized online system based on blockchain technology, and “UP St

With the emerging digital health care market sparked by the coronavirus pandemic, demand for digital health care services for seniors is continuing to grow in South Korea, a report showed Tuesday. According to Samjong KPMG, a Seoul-based consulting firm, the digital literacy level of the elderly here has surged by 4.8 percentage points to 69.1 percent last year, compared to 2019. The report said seniors are emerging as key customer base for digital health care, noting that one out of three Ko

The Mercedes-Benz CSR Committee donated 530 million won ($403,000) raised through the ninth Mercedes-Benz Give ’N’ Race to provide medical and education expenses to underprivileged children and teenagers. The donation will be delivered to Gangnam Severance Hospital’s Rare Incurable Disease project, the Kids & Future Foundation’s Children and Youth Welfare project, the SeungIl Hope Foundation’s Lou Gehrig Disease project and Wild Flower Youth Center’s Grou

Korean construction management firm Hanmi Global said Tuesday that it has acquired Manchester, England-based construction consultancy Walker Sime. Walker Sime, established in Manchester in 1999, provides specialist services including quantity surveying, project management, employer agents and commercial consultancy. It also has talented employees with diverse consulting experience in the field of construction. Walker Sime has recently been expanding its portfolio by carrying out projects in

SPC Group chairman Hur Young-in attended a global business event held by the French government as the only Korean entrepreneur to have participated in the event twice, the food company said Tuesday The one-day event, called Choose France, invites overseas companies to accelerate their investment in the second-largest economy in Europe. The government-led event has been held since 2018. On Monday, French President Emmanuel Macron hosted a banquet to welcome global entrepreneurs from over 250 c