Disney aims to gain foothold in expanding market with launch of streaming service in Korea, amid heightened interest among local investors, telecom operators

Hyundai Motor Group said Wednesday it has joined hands with two local partners in Texas to test whether spent-up electric vehicle batteries could be reused as energy storage systems. ESS is a giant battery the size of a container that stores leftover electricity by renewables such as solar and wind power. By September next year, Hyundai Motor, CPS Energy and OCI Solar Power will establish an ESS facility that can store a half-megawatt power, which is enough to power some 100 homes for a day.

Hyundai Motor Group on Wednesday broke ground on a 10 gigawatt-hour battery cell production plant in Indonesia in cooperation with LG Energy Solution, joining the global race to secure battery cells for the future. The joint factory, set for completion in the first half of 2023, will be built on a 300,000-meter site in Karawang, near the Indonesian capital of Jakarta. The two South Korean firms have formed a $1.1 billion joint venture for the project, with each owning a 50 percent stake. The

The South Korean government said it will invest 2.6 trillion won ($2.2 billion) by 2025 in hyperconnectivity and related technologies used in newly emerging services, such as metaverse, blockchain and cloud technology. The Ministry of Science and ICT on Wednesday held an online meeting to discuss its future investment plans to support the development of key technologies in the information and technology industry. During the meeting, Minister Lim Hye-sook said, “The metaverse sector and

SK Bioscience is expected to secure a large-size COVID-19 vaccine supply deal from the COVID-19 Vaccine Global Access Facility next year, a local brokerage firm said Wednesday. The possible deal will boost earnings of the South Korean pharmaceutical company, it added. GBP510, the firm’s COVID-19 vaccine candidate, is a recombinant-protein vaccine funded by the Bill and Melinda Gates Foundation and the Coalition for Epidemic Preparedness Innovations, which is leading the vaccine-sharing

Chief of water treatment center in Suwon says intensifying urbanization makes job more difficult than ever before

Google, under fire in South Korea for allegedly abusing others with its market power, on Wednesday hit back at the criticism, arguing it contributed 11.9 trillion won ($10.25 billion) in economic benefits to Koreans last year. Holding an online press event it called “Google for Korea,” executives of the US giant cited data from global market analysis firms to tout the positive side of its presence in Korea. “Last year, YouTube’s creative ecosystem contributed around 1

New project to strengthen position as property developer

Apple Inc. said Wednesday it will launch its new smartphone, the iPhone 13, in South Korea next month as the US tech giant aims to solidify its leadership in the premium segment. Apple on Tuesday (local time) unveiled four models of the iPhone 13 series -- the 5.4-inch iPhone 13 mini, the 6.1-inch iPhone 13, the 6.1-inch iPhone 13 Pro and the 6.7-inch iPhone 13 Pro Max. Apple said its new iPhone family, featuring upgraded camera system and enhanced battery life, will go on sale in South Korea on

LG Electronics Inc. on Wednesday said it will launch a new online education-dedicated notebook next month in partnership with South Korea's internet portal giant Naver Corp. LG will release "Whalebook," a cloud-optimized laptop powered by Naver's Whale operating system (OS), suitable for its online education platform Whale Space. The product will be first sold in the B2B market in South Korea in October and will be available to consumers later with a price tag of 550,000 won ($470). LG

Google said Wednesday it offers around 12 trillion won ($10.25 billion) in economic benefits for South Korean consumers annually through its services, highlighting its presence in the country amid growing scrutiny from local regulators and politicians over allegations of unfair business practices. During an online recorded event, the tech giant said it provides 5.1 trillion won per year in benefits for South Koreans through its Play store, 4.2 trillion won through its search service, and 2.5 tri

Hyundai Heavy Industries Group said Wednesday it will push to win approval of its newly developed gas carriers from global ship quality assurance and risk management companies, such as Lloyd's Register from Britain, and flag states in an upcoming exhibition. The world's biggest shipbuilder plans to unveil gas carriers at Gastech 2021, the world's largest exhibition and conference supporting the gas, LNG, hydrogen and energy industry, slated for Sept. 21-23 in Dubai. The group's newly developed v

　Samsung Electronics was the world’s third-largest smartwatch vendor in the second quarter of the year, a report showed, after its shipments posted robust 43 percent on-year growth. 　The South Korean tech giant logged a market share of 7.6 percent in the April-June period, up from 6.8 percent a year earlier, and edged China’s BBK Electronics for third place, according to market researcher Counterpoint Research. 　Apple maintained its lead in the second quarter, but its market s

South Korea’s new Trade Minister Yeo Han-koo is a veteran negotiator who sat at the bargaining table for many of the free trade deals South Korea has inked over the past two decades, including the one with the European Union. Before assuming his current position on Aug. 9, the 51-year-old bureaucrat served as presidential secretary for the New Southern and New Northern policies -- President Moon Jae-in’s signature foreign policy initiatives to expand the nation’s economic and

New Trade Minister Yeo Han-koo envisions pragmatic approach to bring real impact to local economy, eyes leadership role in rebuilding of multilateralism