Mid-sized companies seek government support amid trade challenges

SEOUL, May 14 (AJU PRESS) -- The association of mid-sized companies in Korea has called for government support to enhance corporate competitiveness in light of the growing trade protectionism worldwide. At a forum on Monday, Choi Jin-shik, chair of the Federation of Middle Market Enterprises of Korea (FOMEK), urged the government to ease the environmental and labor regulations and improve corporate taxes. “We should not overlook the reality that all countries including a

May 14, 2024

Emart24, Bithumb partner in Bitcoin lunch box campaign

SEOUL, May 14 (AJU PRESS) - Emart24, a leading convenience store chain in Korea, is selling Bitcoin-themed lunch boxes in partnership with Bithumb, a cryptocurrency exchange, in a campaign to promote digital currencies. The Bitcoin Lunch Box, launched on May 7, contains a coupon that can be exchanged for 10,000 won worth of Bitcoin. Customers need to access the Bithumb app via a QR code on the coupon and enter the coupon number. Users can receive an additional 20,000 won worth of

May 14, 2024

HD Hyundai unveils model of AI-based unmanned surface vessel in partnership with Palantir

SEOUL, May 10 (AJU PRESS) - HD Hyundai has unveiled a model of its artificial intelligence-based unmanned surface vessel (USV) for the first time at a U.S. AI industry fair. HD Hyundai is developing the advanced military vessel, Tenebris, jointly with Palantir, a U.S. big data company. The two companies showcased the USV model at the AI EXPO for National Competitiveness in Washington, D.C., held from Tuesday to Wednesday (local time). The 17-meter, 14-ton lightweight vessel is

May 10, 2024

From niche market to game changer: Sugar-free craze sweeps Korean food industry

SEOUL, May 09 (AJU PRESS) – From fried chickens to rice cakes and even hangover cures, Korean food and beverage makers are jumping on the sugar-free bandwagon, transforming once a niche market into the industry’s game changer. Catering to a growing number of health-conscious consumers, the market witnessed an explosive growth in recent years. Experts predict further expansion as technological advancements enable a wider variety of low and no-sugar options while maintaini

May 10, 2024

SK E&S constructs world's largest liquified hydrogen plant

SEOUL, May 09 (AJU PRESS) - SK E&S, the green energy arm of Korea's SK Group, has constructed the world's largest hydrogen liquefaction plant in the western port city of Incheon. The company held the dedication ceremony Wednesday for the plant with an annual capacity of 30,000 tons of liquid hydrogen, enough to fuel 5,000 hydrogen buses for a year. SK E&S said it has invested about 700 billion won ($511.7 million) in the construction between 2021 and 2023. Liquefi

May 9, 2024

LIG Nex1 displays guided missiles at defense exhibition in Kuala Lumpur

SEOUL, May 08 (AJU PRESS) - LIG Nex1 is displaying its mid-range surface-to-air missile defense system "Cheongung-II" at the Defence Services Asia (DSA), which kicked off on Monday for a four-day run in Kuala Lumpur, Malaysia. More than 1,200 companies from some 60 countries are participating in the defense exhibition hosted by the Malaysian government. The Cheongung-II, also known as M-SAM, features the function of intercepting ballistic missiles at an altitude of ab

May 8, 2024

Korean oil refiners ramp up car wash business amid declining profit margins

SEOUL, May 07 (AJU PRESS) – Major Korean oil refiners are expanding their presence in the market of automatic no-brush tunnel car washes as part of efforts to improve their bottom line as higher oil prices and operating costs are squeezing their profit margins. HD Hyundai Oil Bank signed a cooperation agreement with domestic unmanned no-brush car wash service operator Come In Wash last week to accelerate the distribution of an automated no-brush tunnel car wash system to its

May 7, 2024

Harmful substances found in toys sold on Chinese e-commerce platforms

SEOUL, May 02 (AJU PRESS) - Seoul City has discovered excessive levels of harmful substances, including lead and banned chemicals, in children’s toys and stationery items sold on Chinese e-commerce platforms including Aliexpress, officials said Thursday. Korean law requires sellers and importers of children's products to obtain safety certification, imposing penalties for violating the rule. However, the law does not apply to products purchased directly from overseas onl

May 2, 2024

LG Chem to share water purification technology with Saudi Arabia

SEOUL, May 01 (AJU PRESS) - Korean chemical company LG Chem will transfer its water purification technology, known as reverse osmosis, to Saudi Arabian conglomerate Alkhorayef Group, LG Chem said Wednesday. Reverse osmosis (RO) uses a semi-permeable membrane to extract salt and other impurities from water. Unlike traditional methods reliant on heat-induced evaporation, RO membranes filter water molecules without heat. LG Chem's RO membrane boasts a 99.89 percent salt removal rat

May 1, 2024

Korea's Ramyeon exports hit record high in first quarter

SEOUL, April 30 (AJU PRESS) - Korea experienced a remarkable 30 percent increase in Ramyeon exports during the first quarter of 2024, reaching a record high for the period, according to data released on Tuesday. Demand for Korean noodle products was especially strong in the United States, followed by China, the Netherlands and Japan. This surge in popularity has been fueled over the past decade by Ramyeon's frequent exposure through K-pop songs, K-dramas, and K-films. This has

April 30, 2024