Lotte's logistics wing to demonstrate autonomous trucks and delivery robots

SEOUL -- To accelerate the commercialization of fully-autonomous parcel delivery systems, the logistics wing of South Korea's confectionary giant Lotte Corporation, and Robotis, a robotics company based in Seoul, will jointly roll out the second stage of a government-led autonomous logistics system demonstration project. South Korea boasts over 1,500 logistics centers, facilitating ultra-fast parcel delivery networks with an average delivery period of just a few days. However,

March 8, 2024

KAI to inject $68.7 mln for development of autonomous drones and single-seater FA-50 fighter jets

FA-50 developed by the Korea Aerospace Industries SEOUL -- The Korea Aerospace Industries (KAI), a major defense company in South Korea specializing in aerial vehicle research and development, is set to accelerate the development and commercialization of autonomous aerial vehicles and the single-seater variant of the FA-50 supersonic light fighter jet. In a board meeting held on March 8, KAI announced its plan to inject a total of 90.8 billion won ($69.7 million) into t

March 8, 2024

Lotte holds AI conference for executives

SEOUL -- South Korean conglomerate Lotte Group has hosted a conference in Seoul for its executives to explore AI technologies and their potential to transform the group's core businesses. The March 7 event drew approximately 110 participants, including Lotte Chairman Shin Dong-bin and CEOs and CSOs from all affiliates. Lotte recognizes that AI is not only enhancing work efficiency but also becoming a strategic tool. To drive AI adoption, the conference focused on fostering

March 8, 2024

CJ Cheiljedang attracts S. Korean customers with heat-and-eat products via Aliexpress

SEOUL -- CJ Cheiljedang, South Korea's iconic food company well-known for its heat-and-eat cooked rice products and frozen Korean-style dumplings, has made a foray into Chinese ecommerce platform Aliexpress. The online shopping mall operated by China's ecommerce platform Alibaba Group has become one of South Korea's favorite online shopping services thanks to its wide range of affordable products shipped directly from Chinese sellers to South Korean customers. Aliexp

March 8, 2024

India's foreign affairs minister visits Seoul for economic cooperation

SEOUL -- Through a joint committee in Seoul, India's foreign affairs minister reached a consensus with his South Korean counterpart to upgrade economic cooperation in defense, supply chains, technology, and infrastructure. This was the first dialogue in six years since the joint committee meeting held in New Delhi in December 2018. South Korea's foreign affairs ministry said India's external affairs minister Subrahmanyam Jaishankar attended the joint committee meeting

March 8, 2024

Convenience store chain CU operator makes foray into Kazakhstan

SEOUL -- BGF Retail, the operator of South Korea's major convenience store franchise CU, has opened its first store in Kazakhstan. The store is in Almaty, the Central Asian country's heart of trade with a population of some 2.1 million. BGF Retail aims to run more than 500 stores across the country by 2029. BGF Retail announced that the first store was launched through a master franchise arrangement with CU Central Asia, the convenience store operator affiliated with Kazak

March 7, 2024

CMG Pharmaceutical to make foray into Vietnamese cosmetics market

SEOUL -- Targeting young Vietnamese consumers, South Korea's CMG Pharmaceutical is set to make a foray into the Vietnamese cosmetics market. The pharmaceutical firm, specializing in skincare products, will collaborate with An Thinh Phat, a Vietnamese distributor of healthcare products, to provide new beauty items starting in May 2024. Demand for South Korean cosmetics products is rapidly growing in Viet Nam. According to data released by the Korea Cosmetics Association, export

March 7, 2024

Naver to build Saudi's intelligent transportation system

SEOUL -- Team Naver, the digital business arm of South Korea’s largest portal site, has signed a strategic partnership agreement with Saudi Arabia’s Saudi Public Transport Company (SAPTCO) to build an intelligent transportation system in the Middle East country. Under the agreement, Team Naver will utilize its technologies in cloud, artificial intelligence and digital technologies to build a new transportation system for Saudi Arabia. If this project goes smoothly

March 7, 2024

LS Cable signs preferred bidder contract for Taiwan's offshore windfarm project

SEOUL -- LS Cable & Systems, a major power cable manufacturer in South Korea, has entered into a contract to become the preferred bidder for an offshore wind farm project in Taiwan. The company will collaborate with its Danish and Taiwanese counterparts to supply underwater power cables. The South Korean power cable company announced that it has signed a preferred bidder agreement with Denmark's constructor CIP and Taiwan's offshore wind farm operator Fengmiao to suppl

March 7, 2024

[PHOTO] Top K-pop girl bands highlight Paris Fashion Week

Members of K-pop girl bands received the spotlight at the Paris Fashion Week. The global fashion event, designed to promote luxury brands and promising designers, took place from February 26 to March 5.

March 7, 2024