LS Cable & Systems starts shipment of ultra-high-voltage cables to Denmark

SEOUL, April 11 (AJU PRESS) - LS Eco Energy, the ultra-high-voltage power cable subsidiary of South Korea's major power cable maker LS Cable & Systems, has started the shipment of power cables to Denmark. The power cables will be used for the construction of electricity infrastructure that connects the Danish mainland and an offshore wind farm. The power cable company was established in 1996 as an LS Cable subsidiary targeting the Asian power cable market. The company is n

April 11, 2024

S. Korean resources circulation firm constructs battery recycling plant

SEOUL, April 09 (AJU PRESS) - DS Dansuk, a South Korean firm specializing in resources circulation, has completed the construction of a lithium-ion battery recycling plant in the southwestern port city of Gunsan. The plant will produce "black mass," a mixture of different materials recovered from spent batteries. According to market research firm BIS Research, the global market for high-performance lithium-ion (Li-ion) batteries is accelerating at an average annual growt

April 9, 2024

Seminar helps Korean firms explore Indian markets

SEOUL, April 05 (AJU PRESS) - In a bid to help South Korean companies enter the Indian market, the nation's middle market enterprise federation, FOMEK, organized a seminar. Representatives from the Indian Embassy in Seoul and India's Chamber of Commerce provided insights on the Indian business environment and support plans for South Korean investment in automotive, particularly electric vehicles, and electrical and electronic manufacturing. During the forum on April 4, FOM

April 5, 2024

Picnic mats are hot items at convenience stores thanks to cherry blossoms

SEOUL, April 05 (AJU PRESS) - South Korean convenience stores near renowned cherry blossom picnic spots have witnessed a remarkable surge in sales of picnic essentials like mats, instant noodles, ice cups, and sun protection items. The country's meteorological service forecasts the full bloom of cherry blossoms in Seoul this week. Unlike in Western countries where benches or outdoor chairs are common for picnics, South Koreans typically use picnic mats. During spring's che

April 5, 2024

Korean coffee brands shift focus to overseas markets amid intense domestic competition

SEOUL, April 04 (AJU PRESS) - South Korean coffee brands are setting their sights on overseas markets as competition intensifies at home. This comes as foreign coffee chains like Canadian giant Tim Hortons, which opened its first Seoul store in December 2023 and plans 150 by 2028, and U.S.-based Intelligentsia Coffee, launched in February 2024, enter the South Korean market. The domestic market is indeed saturated. According to market research firm Euromonitor, South Korea's a

April 4, 2024

S. Korean fruit-flavored jelly becomes bestseller in Viet Nam

SEOUL, April 04 (AJU PRESS) - "Boom Jelly," a fruit-flavored jelly series produced by South Korean confectionery maker Orion, has become Viet Nam's favorite jelly product, thanks to the company's know-how of creating chewy jelly products that do not easily melt or go bad in hot weather. The major South Korean confectionery maker raised more than 130 billion won ($96.5 million) in global sales in 2023, up 56 percent compared to a year ago. China was Orion's bi

April 4, 2024

S. Korean small firms showcase consumer goods at 'Vietnam International Trade Fair'

SEOUL, April 03 (AJU PRESS) - A total of 58 South Korean small and medium-sized companies are participating in the Vietnam International Trade Fair, an annual exhibition in Hanoi scheduled for April 3 to 6. South Korea set up a joint exhibition booth, presenting various consumer goods, including cosmetics and food. The annual event, organized by Viet Nam's industry ministry, is one of the largest trade exhibitions in the Southeast Asian country. According to the Korea Trade-In

April 3, 2024

LG Energy Solution and GM's second joint battery plant begins operation

SEOUL, April 02 (AJU PRESS) - Ultium Cells, a joint venture between South Korea's major battery maker LG Energy Solution and General Motors, has begun operation of its second battery plant in the United States. The batteries produced at the joint plant will be used for General Motors' electric vehicles. LGES said on Tuesday that battery cells manufactured at Ultium Cells' second factory in Tennessee will be installed in GM's upcoming EV models, such as the Cadill

April 2, 2024

S. Korea sees slowed growth in new EV registrations in 2023

SEOUL, April 02 (AJU PRESS) - South Korea saw a slower growth in new electric vehicle registrations last year, despite surpassing 500,000 registered EVs. This deceleration can be attributed to consumers' perceptions of clean energy vehicles and their charging infrastructure as inconvenient. Forbes, a prominent American business magazine, analyzed in November 2023 that the slowdown in the global demand for EVs was affected by various factors including unfamiliarity with new pro

April 2, 2024

Promising small firms given chance to explore overseas markets

SEOUL, April 02 (AJU PRESS) - South Korea's major trade association, KITA, announced Tuesday it is organizing an annual export consultation event to find prominent small and medium-sized enterprises with potential. After counseling 51 applicants, the organization will select companies with competitive products for overseas markets. The counseling event is designed to help small and medium-sized enterprises (SMEs) expand abroad using overseas sales network established by congl

April 2, 2024