S. Korean food industry likely to be affected by increased milk prices

SEOUL -- Seoul Milk, one of South Korea's major dairy product makers, has announced that the company will increase the price of its white milk product by three percent due to increased prices of crude milk, or raw milk produced by cows. Milk prices are affected by various economic variables such as prices of fuel, stock feed, animal medicine, and human labor. According to the consumer price trends released by the national statistics information service, the consumer price index for

August 29, 2023

S. Koreans seek to visit foreign countries during autumn harvest festival holiday

SEOUL -- South Koreans are racing to book flight tickets to Asian and Southeast Asian countries including Japan, Viet Nam, and Thailand to spend their golden six-day "Chuseok," Korean traditional autumn harvest festival, scheduled for the last week of September. As a result, tickets for some popular routes have already been sold out. Chuseok is the largest traditional festival holiday in Korea where family members gather to celebrate the full moon, based on the lunar calendar

August 29, 2023

LG Chem to make $94.3 mln investment to increase production of reverse osmosis membranes

SEOUL -- Targeting the water desalination market, LG Chem earmarked 124.6 billion won ($94.3 million) for new investment to expand the production of reverse osmosis membranes at its plant in Cheongju, a city located in the center of South Korea. Without disclosing the current capacity, the conglomerate said that the plant's maximum annual production capacity would be increased by 400,000 membranes by July 2025. With 400,000 membranes, 1.56 billion tons of water can be desalinated annua

August 28, 2023

Hyundai Motor Group records about 1 mln accumulated domestic unit sales of hybrid vehicles

SEOUL -- Hyundai auto group has recorded about one million domestic unit sales of hybrid vehicles since 2009 when the South Korean motor group released its very first liquefied propane gas and gasoline hybrid fuel vehicle designed to attract consumers who wish to purchase fuel-efficient vehicles. Later, the company developed and released lithium-ion battery and gasoline hybrid models. According to data released by Hyundai Motor and its brother company Kia on August 27, a total of 997

August 28, 2023

Hyundai Mobis partners with Israel's Autotalks to develop 5G-based vehicle-to-everything technology

SEOUL -- Hyundai Mobis, the parts-making wing of South Korea's Hyundai auto group, has partnered with Autotalks, an Israel-based semiconductor company, to develop 5G-based vehicle-to-everything technology. Through the technology that enables vehicles to share various huge amounts of data with surrounding infrastructure in real-time, Hyundai Mobis aims to gain a competitive edge in the self-driving car market. Vehicle to Everything (V2X) allows autonomous cars to communicate with ot

August 28, 2023