Hyundai Steel has signed a memorandum of understanding with the Korea Institute of Energy Research to push for comprehensive cooperation on technologies in the energy and environment sectors with the goal of leading the steel industry’s movement towards carbon neutrality. According to the South Korean steelmaker, Hyundai Steel CEO Ahn Dong-il and KIER President Kim Jong-nam attended the MOU ceremony held at the KIER in Daejeon on Friday. The two sides agreed to work together to develop

Industry May 22, 2022

As South Korea looks ahead into the next five years under the new Yoon Suk-yeol administration, the fourth-largest economy in Asia finds itself at a critical juncture with the inevitable advent of the second era of the digital age based on blockchain technology. Don Tapscott, a leading thinker on blockchain, said in an interview with The Korea Herald that he believes Korea can be the next Silicon Valley if the country has the right national blockchain strategy and a good regulatory environment.

Technology May 19, 2022

Over 70 percent of job seekers in South Korea said they were willing to get a position at a startup company, a survey showed Thursday. According to online recruiting platform JobKorea’s survey of 1,063 workers and job seekers, the most-selected reason for expressing a willingness to work at a startup was their growth potential, with 52.9 percent. Respondents could pick more than one reason, and 35 percent said they believed working at a startup would provide many learning opportunities,

Social Affairs May 19, 2022

Researchers at the Institute for Basic Science have developed a biosensor that can detect cancer with a drop of blood, the IBS said Wednesday. A group of researchers led by Cho Yoon-kyoung developed nanoporous gold electrodes to construct a biosensor with high sensitivity and accuracy, according to the IBS. The researchers named the development process SEEDING, which stands for surfactant-based electrochemical etch-deposit interplay for nanostructure and nanopore growth. The study confirme

Technology May 18, 2022

SPC has opened three more Paris Baguette stores in Indonesia, the South Korean food and bakery company said Wednesday. According to SPC, two of the new stores are located at shopping malls in the country‘s capital Jakarta and the other is in South Tangerang. The latest opening of the bakery cafe came two months after the company’s fourth Paris Baquette store began operation in Bekasi in March. The first Paris Baguette in the Southeast Asian country opened in November 2021, shor

Consumer May 18, 2022

South Korean IT giant Kakao will provide mobility services in Guam before the end of the third quarter through a partnership with Miki Taxi, one of the largest taxi services on the US island territory, Kakao Mobility said Tuesday. In doing so, the firm will become the country’s first mobility company to apply the entire infrastructure ranging from the platform, driver application and administration on foreign soil in terms of taxi business, according to Kakao Mobility. Miki Taxi’

Technology May 17, 2022

South Korean entrepreneur Do Kwon was a rising star of the global digital asset market when his company Terraform Labs launched the cryptocurrencies UST and luna with the goal of achieving a decentralized economy three years ago. His stardom reached its peak as the price of luna skyrocketed to over $119 early last month, becoming the first Korean-developed cryptocurrency to crack the top 10 list of cryptocurrencies with the highest market capitalization in the world. Some investors and i

Market May 16, 2022

The global cryptocurrency market has been shaken up by the freefalling prices of Korean-made cryptocurrency terraUSD, also known as UST, and its sister token luna, raising concerns that it may lead to the crypto market’s version of the Lehman Brothers collapse. According to crypto market analysis website CoinMarketCap, the prices of terraUSD and luna recorded 857 won ($0.66) and 443 won as of 2 p.m. on Thursday, down 14 percent and 96 percent from 24 hours ago, respectively. Terraform

Market May 12, 2022

South Korean researchers have developed a nasal spray that can kill viruses and bacteria including COVID-19, the culprit of the unprecedented pandemic, the Korea Institute of Science and Technology said Thursday. Labeled the “invisible mask” for its capacity to prevent virus infection as if one was wearing a mask, the nasal spray can remove harmful substances from the outside and protect the mucus membrane, according to the KIST. In order for the sprayed liquid to take effect, it

Technology May 12, 2022

South Korean researchers have developed a diagnosis platform using blood testing to detect early-stage Alzheimer’s disease, the Korea Research Institute of Bioscience and Biotechnology said Wednesday. To date, there is no cure for Alzheimer’s disease, a type of senile dementia leading to memory loss and cognitive impairment. The KRIBB said the key to treatment is to slow the progression of the disease through accurate early diagnosis. The researchers confirmed that the level of m

Technology May 11, 2022

Lee Jong-ho, the new science and ICT minister, stressed the importance of securing core technologies of semiconductor, artificial intelligence, space and bio in his inaugural speech on Wednesday. “In an era where technology is sovereignty, the public and private sectors must consolidate their capabilities to strengthen strategic investment and all-around support and fortify the more practical innovation ecosystem of industry, academia, and research. We need to pursue our own super-gap and

Technology May 11, 2022

South Korea’s single-person households proportionally spent more on alcohol than households with two or more people last year, a report showed Sunday. According to the Korea Rural Economic Institute’s report that analyzed the Statistics Korea’s data from 2021, single-person households spent 10.6 percent of their processed food spending on buying alcoholic beverages, whereas households with two or more people allocated 7.3 percent. The report showed that younger people living

Consumer May 8, 2022

South Korean actress Kang Soo-youn has been taken to hospital with cardiac arrest, according to local reports on Thursday. Citing the police and emergency authorities, local reports said she was found with cardiac arrest at around 5 p.m. in Gangnam and given cardiopulmonary resuscitation while being taken to a nearby hospital. Born in 1966, Kang became the first Korean actor to receive an award at a major international film festival as she was honored with the best actress award at the 1987 V

Film May 5, 2022

South Korea’s retail giant Lotte Group has registered the trademark of “Lotte Biologics” with the Korean Intellectual Property Office, signaling the conglomerate’s official enter the bio industry. According to the KIPO, Lotte Holdings applied for Lotte Biologics’ patent last week with business areas including customized manufacturing of biopharmaceuticals, drug processing and medical diagnostic devices for virus testing. “Registering the trademark of Lotte

Consumer May 5, 2022

Cha Biotech’s US subsidiary Matica Biotechnology has opened a new cell and gene therapy production facility to boost its contract development and manufacturing organization business on the global stage, officials said Wednesday. With a 500-liter bioreactor, the new CDMO facility, based in College Station, Texas, will produce various types of viral vectors that are the essential basis of cell and gene therapy, according to Cha Biotech. The company said that Matica Biotechnology is curre

Technology May 4, 2022