With SKYCovione, South Korea now world's 3rd country with both treatment and vaccine

Construction company Daewoo Engineering & Construction said Wednesday that it has been participating in a community service project to improve the housing environment for descendants of independence fighters. The construction company took part in the project — hosted by nonprofit volunteer organization Habitat for Humanity Korea — by donating 200 million won ($154,621) in February, and repairing seven homes belonging to the descendants of activists who fought against the 1919-1

Italian luxury fashion brand Gucci on Wednesday launched its new “Gucci Pet Collection,” catering to canines and felines that enjoy extravagant lifestyles. The product line is part of a larger collection titled “Gucci Lifestyle,” which was launched in September 2021. The pet attire and accessories are all made from recycled cotton and polyester, and Gucci’s own eco-friendly fabric called Demetra that is made from sustainable, renewable sources. Pet owners can now

Dunamu, operator of popular crypto exchange Upbit, said that experts representing the latest blockchain trends such as non-fungible tokens and metaverse gaming will attend its annual developers’ conference as speakers. The Upbit Developer Conference 2022 will be held for two days from Sept. 22 at the Busan Port International Exhibition and Convention Center under the theme “Imagine Your Blockchain Life.” Speakers include Sebastien Borget, CEO and co-founder of metaverse game

LG Energy Solution said Wednesday it is reviewing the profitability of its new battery plant in the US, citing growing uncertainties surrounding inflation woes and unfavorable foreign exchange movement. In March, the world’s second-largest electric vehicle battery maker announced plans to build its own battery plant in Queen Creek, Arizona, with an annual capacity of 11 gigawatt hours of cylindrical batteries. A 1.7 trillion won ($1.3 billion) investment had been planned to be injected in

Korean Air Lines Co. and Asiana Airlines Inc., South Korea's two biggest carriers, on Wednesday resumed the Gimpo-Haneda route after a two-year suspension due to the COVID-19 pandemic. South Korea and Japan agreed to reopen the route last week. Korean Air and Asiana will operate two flights per week on the Haneda route, respectively, while All Nippon Airways Co. and Japan Airlines Co. will provide a total of four flights a week as well, according to the Land, Infrastructure and Transport Mi

Local gene therapy biotech firm Helixmith will announce the results of Engensis’ second phase 3 clinical trials for diabetic peripheral neuropathy next month, officials said Tuesday. “We were hoping to announce the results of Engensis’ second phase 3 clinical trials today, but the (independent Data Monitoring Committee) has requested additional data,” said Kim Sun-young, CEO of Helixmith, in a press conference. According to the CEO, the requested documents included En

LG chief seeks strategic shift toward futuristic tech amid lingering uncertainties

A Seoul bankruptcy court on Tuesday approved a local consortium led by chemical-to-steel firm KG Group to acquire a 58.85 percent stake in SsangYong Motor at a reported 900 billion won ($700 million), ending a two-way race to acquire the debt-ridden South Korean SUV maker. SsangYong has been under court receivership for 14 months after its Indian parent Mahindra & Mahindra failed to attract fresh funding amid worsening financial health during the pandemic.  Following the court&rs

Posco Engineering & Construction, a construction unit under steel giant Posco, opened a second sample house of The Sharp Geochang Porsiel as it prepares to start its official sale, the company said Friday. The second Sharp Geochang Porsiel complex comprises six 20-story buildings, and a total of 443 households. Interior designs and sizes vary from medium-sized flats to penthouses, the company said. Residents of Geochang-gun, Gyeongsang Province, Busan, and Ulsan aged 19 or older who hold

The country’s largest air carrier, Korean Air, is gearing up to restore international flights that had plunged during the last three years due to the outbreak of the COVID-19 pandemic. “We plan to restore international flights to 50 percent of pre-pandemic levels by September,” the company said Tuesday. Currently, Korean Air’s international flights are only one-third of the pre-pandemic level, but it plans to gradually increase flights starting in July, when the summer

Korea Aerospace Industries is venturing into the air taxi business with an aim to develop a small-sized Urban Air Mobility aircraft by 2024 so it can be used as a test model. KAI said it will later develop a full-scale UAM aircraft that can be used as a standardized model for the air taxi business in Korea amid the government’s push to commercialize air taxis by 2025.  According to industry sources, KAI is building a small-sized UAM aircraft that will be 25 percent to 40 percent sma

Hyundai Steel has built a so-called Smart Enterprise system, an advanced management program that oversees from production to sales and infrastructure management through AI technology, officials said Tuesday. The new system features AI technology and big data to advance the entire process from manufacturing to sales at steel mills, Hyundai Steel said.  “The company will complete the Smart Enterprise system by forming the most optimized decision-making process centered in customers b

LG Innotek said on Tuesday it has developed an in-cabin radar module for cars that detects living things and movements with electromagnetic waves. Used to avoid leaving small children in cars or to prevent theft, in-cabin radar modules are made by combining radar chips, antennas and communication chips on substrates, and are usually installed in the ceiling above the rear seats or around the rearview mirror. The global demand for interior sensing devices, including radar modules, has been risi

Organizers of an international expo on the virus and bacteria industry said Tuesday that they signed a memorandum of understanding with the Association of American State Offices in Korea to host the 2022 International Virus and Bacteria Industry Expo, or ViBac. Under the memorandum, which was signed June 16, ASOK will encourage companies in the US to participate in ViBac, which will kick off July 18 at Coex in Samseong-dong, Gangnam-gu, Seoul, for a two-day run. Founded in 1989, ASOK is a non