SK Telecom said Tuesday it has launched the world’s first keycard applied with both quantum technology and biometric identification technology. Together with Switzerland-based quantum safety solutions firm ID Quantique and a local biometric identification startup Octatco, SKT co-developed the “EzQuant” keycard equipped with a quantum random number generator. “EzQuant combines QRNG technology with FIDO-based fingerprint certification keycard,” a company officia

Technology June 15, 2021

Hanwha Systems said Monday that it will develop autonomous underwater drone swarms for search and rescue missions by 2025. According to the defense business unit of Hanwha Group, it has formed a consortium with partners including the Korea Advanced Institute of Science and Technology for the 25 billion-won project ($22.4 million) commissioned by the Korea Institute of Marine Science and Technology Promotion. “In bad weather conditions, human divers can’t be deployed due to poor

Industry June 14, 2021

For 221 of the world’s major companies to source 100 percent of electricity from renewable sources by 2030, they’ll have to spend $98 billion. But make no mistake. These members of Renewable Energy 100 -- a global initiative to use electricity generated exclusively from renewable energy -- are not burning their cash just for the greater good of saving the Earth. They’re doing this for their own good, Sam Kimmins, head of the Climate Group’s RE100 campaign, said at th

Industry June 10, 2021

Hyundai Motor Group is developing a hydrogen robot taxi with the aim of launching a commercial service within the next few years. According to the nation’s top automaker, the self-driving taxi will be based on the Nexo, the company’s hydrogen fuel cell-powered SUV. “The hydrogen robot taxi is currently in the design stage. The exterior currently has cameras and sensors protruding from it, so we’re working on it. The model will be ready for mass production in one to tw

Industry June 10, 2021

Hanwha Systems is seeking partnership deals with ride-hailing apps, including the industry’s biggest Kakao T, to include flying taxis on the platforms, the company said Thursday. Hanwha Systems, a defense business unit of South Korea Hanwha Group, is racing to debut a flying car by 2024 and Kakao T is one of multiple ground mobility platforms being considered as a reservation service partner. Kakao T, operated by Kakao Mobility, is South Korea’s most popular taxi hailing platfor

Industry June 10, 2021

SK Innovation said Wednesday that it was considering producing new kinds of electric vehicle batteries, including cylindrical and prismatic battery cells, to expand its customer base. At South Korea’s biggest battery expo, Inter Battery, held at Coex in Seoul this week, SK Innovation battery chief Jee Dong-seob confirmed that the company was preparing to diversify its product portfolio, which currently consists only of pouch-type cells. “We are reviewing the development of cyli

Industry June 9, 2021

LIG Nex1 will participate in the International Maritime Defense Industry Exhibition 2021 to showcase its advanced close-in weapons system, or CIWS, specialized to the South Korean Navy. Currently, the Navy is using a Dutch CIWS called Goalkeeper, which automatically shoots thousands of bullets per minute to offer short-range defense for ships against fast-moving missiles, aircraft and surface vessels. Through its CIWS-II program, the Navy aims to develop a more advanced CIWS that has the same

Industry June 8, 2021

Minister of Trade, Industry and Energy Moon Sung-wook said Tuesday that the ministry will lead South Korea’s carbon neutrality plan, but remained vague on whether the plan includes nuclear energy. At his first press conference since taking office early last month, Moon stressed that the industrial sector emits 37 percent of the nation’s total carbon output and therefore the Industry Ministry should step up its efforts to help the country go carbon neutral by 2050. Asked whether

Industry June 8, 2021

After being selected as the sole preferred bidder for an Australian artillery gun procurement project last year, Hanwha Defense aims for its first export to the UK, as the British Army is looking for new self-propelled artillery. The British Army, which is using AS90 guns that are more than 30 years old, plans to procure 116 units of new self-propelled artillery guns within seven years, as part of the Mobile Fires Platform program worth approximately $1.08 billion. The authority will begin s

Industry June 7, 2021

The South Korean IT powerhouses nestled in Pangyo Techno Valley, a tech hub modeled after Silicon Valley in the US, are best known for a progressive workplace culture shaped by young founders and their employees, something rare among traditional big companies. That reputation has drawn the nation’s brightest IT minds south of Seoul to Pangyo in recent years, but the IT and tech startup cluster is now under increasing scrutiny after a series of reports suggested a reality contrary to th

Industry June 6, 2021

Lime Korea said Thursday it has cut the price of the company’s monthly subscription plan Lime Prime to 7,500 won ($6.70) from 12,500 won to make its service more accessible to daily commuters. Lime Korea currently charges a fixed rate of 1,200 won to unlock an e-scooter and then a per-minute fee from 160 won to 230 won to ride. For 7,500 won a month, the company waives the initial fee for Lime Prime subscribers. Also, Lime Prime members can reserve a vehicle up to 30 minutes at no cost

Industry June 3, 2021

SK Inc., the holdings firm of SK Group, said Thursday that it has acquired a stake in Monolith, the world’s first company to have successfully mass-produced “turquoise hydrogen.” The strategic investment was made by a consortium led by SK Inc., of which NextEra, a leading clean energy company in the US, was also a participant. SK did not disclose the investment amount, but industry sources said it would likely be in the range of tens of millions of dollars. Although hydro

Industry June 3, 2021

SK Lubricants, a subsidiary under SK Innovation, said Wednesday that its lubricant sales for electric vehicles is expected to double on-year, buoyed by a growing demand for EVs. The market size for EV lubricants will grow as much as six times by 2025, as the number of EVs, which stood at 3.94 million this year, will jump to 11.26 million by 2025, according to IHS Markit. EVs, which accelerate faster than gas-powered cars, require much more efficient lubricants that can cool down motors, gear

Industry June 2, 2021

In the race for leadership in the battery business, it looks like Samsung SDI is the slowest mover. While global competitors, including crosstown rivals LG Energy Solution and SK Innovation, have announced ambitious tie-ups and expansion plans -- even targeting the world’s largest market, the US -- Samsung SDI has produced no such news. Shares in Samsung SDI, traded on Korea’s main Kospi bourse, took a battering this week following a Morgan Stanley downgrade. In its note, the

Industry June 1, 2021

When the world shifted from relying on coal as fuel to oil, the transition reshaped the international order. Now, the world prepares yet another seismic shift -- from oil to renewable energy. South Korea, which is the world’s ninth largest energy consumer and has next to no fossil fuel resources of its own, could step up to take lead in this great transition by facilitating a hydrogen economy, says Lee Seung-hoon, the director of H2Korea, a hydrogen think tank under the Ministry of T

Industry June 1, 2021