S. Korea's inflation rate reaches 3.7% in September 2023

SEOUL -- South Korea's inflation rate increased to the upper three percent range to reach the highest level in five months. The increased rate was affected by bad weather conditions such as heavy rainfall and extreme heat, which caused agricultural prices to rise. The impact of rising international oil prices also slowed the decline in petroleum product prices. Along with increased consumer prices, the level of the core price index (CPI), which excludes fuel and agricultural prices

October 6, 2023

POSCO partners with oil refiner GS Caltex to demonstrate bio fuel-based bulk carrier

SEOUL -- South Korea's leading steel group POSCO will work with GS Caltex, a major domestic oil refiner, to demonstrate a biofuel-based bulk carrier. In early October, the steelmaker's products will be transported using a ship made by H-Line Shipping, a South Korean marine carrier company. Biofuel is produced using plant-based or animal-based oil such as cooking oil from fast food restaurants or palm oil. Biodiesel, one of the most widely recognized biofuels, is normally ma

October 6, 2023

Pulmuone upgrades partnership with US cellular aquaculture startup BlueNalu to commercialize cell-based seafood

SEOUL -- To take the lead starting position in the South Korean cell-based seafood market, Seoul-based food company Pulmuone will strengthen a partnership with BlueNalu, a San Diego-based food company specializing in cultivated seafood such as tuna-like fish meat. The two groups agreed in 2020 to commercialize healthy cell-based seafood products without genetic modifications and free of environmental contaminants. BlueNalu has developed technology to produce various seafood including b

October 5, 2023

Lotte Wellfood collaborates with BTS to release limited-edition chocolate product 'Crunky'

SEOUL -- Lotte Wellfood, the confectionary wing of South Korea's conglomerate Lotte, has released a limited-edition chocolate product "Crunky" with special paper covers bearing images of BTS members. A total of eight types with images of individual members and one with a group photo, are available. Crunky is a crunchy chocolate snack filled with rice puffs. The popular crispy chocolate, released in 1974 at the Japanese office of Lotte, started its production in South Kore

October 5, 2023

Korean Air to expand passenger capacity for routes to Japan, China, and US

SEOUL -- To meet growing demands for international travel after the COVID-19 pandemic, Korean Air, South Korea's main flag carrier, will expand passenger capacity for routes to Japan, China, and the United States. The airliner will also open new routes to Viet Nam as well as revive airways that were suspended due to the pandemic. The winter season designated by the International Air Transport Association (IATA) starts on the last Sunday of October and ends on the last Saturday in

October 5, 2023

Tuna maker Dongwon F&B to showcase plant-based tuna at German food fair

SEOUL -- South Korea's largest canned tuna maker Dongwon F&B will showcase plant-based tuna at ANUGA, a global food fair to be held on October 7 in Germany's western city of Cologne. During the five-day event, visitors can enjoy alternative tuna products. Dongwon F&B is known for "Dongwon Tuna," South Korea's favorite tuna brand. The canned tuna brand is often consumed along with rice and spicy instant noodles known as Ramyeon. According to Dongwon F

October 4, 2023

S. Korean individual proprietors struggle to manage principal and interest payments

SEOUL -- Many South Korean self-employed individuals, who withstood the impacts of the COVID-19 pandemic and economic downturns through loans and government subsidies, are finding themselves in a position where they can no longer manage the principal and interest payments. The COVID-19 pandemic which hit South Korea in early 2019 was like the death sentence for individual business operators, especially those who operate small stores, restaurants, bars, and coffee shops, after the c

October 4, 2023

​Hanwha Group launches subsidiary for cooperative robot production targeting global market

SEOUL -- South Korea's Hanwha Group has established a subsidiary that oversees the cooperative robot business. Targeting the global market, the new subsidiary will develop autonomous collaborative robots that can work with human coworkers in various sectors including security and food service. Cooperative robots, also known as cobots, are used especially at factories because of their autonomous operation functions and interactive capabilities. They can pick up tools and pass th

October 4, 2023

Exports of Korean rice beer 'Makgeolli' surpass 15,000 tons in 2022, up 22.6% from 2020

SEOUL -- Exports of traditional Korean rice beer Makgeolli in 2022 reached 15,396 tons in 2022, up 22.6 percent from two years ago, state data showed. Major Makgeolli importers were Japan, the United States, and China. Makgeolli, also known as Korean rice wine or Korean rice beer, is a milky white-colored alcoholic beverage. The beverage normally made with rice contains about six to eight percent alcohol. Some brands are flavored with corn, chestnuts, and apples. The milky beverage was

October 3, 2023

SK Telecom to provide AI-based imaging assistant service 'X Caliber' for animal hospitals in Japan

SEOUL -- South Korea's major mobile carrier SK Telecom partnered with Japanese electronic medical record solution provider Anicom Pafe, to supply "X Caliber," an AI-based veterinary imaging assistant service to animal hospitals in Japan. The web-based service helps veterinarians read and diagnose images quickly. X Caliber, released in September 2022, was adopted by some 300 South Korean veterinary hospitals. It detects abnormal findings in dogs' musculoskeletal syst

October 3, 2023