The future of the metaverse will include telepathy, predicting the future and hyper learning, Ethereum Foundation founding member and CEO of the metaverse-building platform MetaMetaverse Joel Dietz said Wednesday at the Korea Herald Biz Forum held at the Four Seasons Hotel Seoul. “I am going to make some bold claims,” Dietz said as he introduced three of his futurist visions of the metaverse. Dietz said that as the metaverse becomes more prevalent, people will begin to shift toward a

Industry Oct. 19, 2022

The KT&G Scholarship Foundation said Monday it is hosting a social innovation idea contest for college students to showcase creative business ideas that can tackle social challenges. Students can participate in groups of two to four, and may submit business proposals that create products or services to combat a wide range of social issues including climate change and education. Proposals are being received through the foundation’s website until Nov. 6. The first round of evaluations wi

Social Affairs Oct. 17, 2022

Onmind, a subsidiary of South Korean game-maker Neptune, said Friday its artificial intelligence virtual human model Sua has signed a three-year modeling deal to work with Thai advertising firm DDD. DDD advertises for large Korean conglomerates, Thai Airways and global luxury brands such as Chanel and Dior. It currently has advertisement billboards at major landmarks in Bangkok including Suvarnabhumi Airport, and malls Siam Paragon and MBK Center. Under the contract, Sua will appear on billboard

Technology Oct. 14, 2022

South Korea’s second-largest steelmaker Hyundai Steel said Thursday it would expand the product lineup of its earthquake-resistant structural steel, branded as H Core. H Core was launched in 2017 to include materials used for earthquake-proof designs such as rebar and section steel. Through the recent expansion, the steelmaker will incorporate other materials that can be used throughout the construction process such as cold and hot rolled steel, steel plates, and steel pipes. The steelmake

Industry Oct. 4, 2022

South Korean nationals traveling through South Korea’s airports are expected to enjoy wider access to a new check-in system that works with biometric information obtained through palm vein recognition technology. The Korea Financial Telecommunications and Clearings Institute (KFTC) said Friday it had signed a business agreement with the Korea Airports Corporation and nine major financial corporations to operate the new biometric check-in system at 14 gateways across the country. Incheon Ai

Technology Sept. 30, 2022

Corporations spent 1.9 trillion won ($1.3 billion) at golf clubs across the country last year, according to a study on company credit card spending released Thursday by the Golf Consumer Agency of Korea. The study, which was conducted based on data provided by Rep. Yun Chang-hyun’s office, revealed that 27.5 percent of all golf course sales in 2021, or 1.9 trillion won out of 6.9 trillion won, came from company credit cards. The proportion of company card payments among golf course sales h

Industry Sept. 29, 2022

South Korean telecommunications giant KT is looking to expand the content provided on its streaming service Olleh TV through a partnership with US cable channel operator AMC Networks. KT said Wednesday it had signed a partnership with AMC Network’s content production arm AMC Studios on Tuesday to launch the producer’s original series on its platform and to participate in joint productions. With the new agreement, Olleh TV subscribers will gain access to AMC originals including popula

Industry Sept. 28, 2022

User experience writing, or UX writing, should be an integral part of corporate digital strategies, as it offers an easy solution to produce more effective digital spaces, experts said Tuesday at a roundtable discussion held at Herald Design Forum 2022 in Seoul. UX writing uses easy words and expressions "to architect a comfortable digital interface which ensures users to accomplish what they want,” said Shinhan Card executive Park Kwang-hoon. “UX writing is not a big innovation

Industry Sept. 27, 2022

Korea Ginseng Corp., the country’s leading ginseng manufacturer, said Monday it will work with nongovernmental relief agency World Vision to help malnourished children in Vietnam. By donating part of its revenue from sales, KGC will provide food and health supplements to malnourished children under 5 in two of Vietnam’s most impoverished districts -- Huong Hoa and Da Krong. Some 28 percent of children in these two districts were underweight while 10 percent suffered from poor growth

Industry Sept. 26, 2022

Information technology service provider LG CNS said Sunday it has become the first South Korean company to sign a digital transformation (DX) partnership with Google’s cloud service, Google Cloud. Through the strategic partnership, LG CNS said it hopes to acquire a competitive edge in the domestic artificial intelligence market catered toward corporate use, and to carry out cloud application modernization (AM) and total experience (TX) innovation projects. To increase market presence, the

Technology Sept. 25, 2022

South Korean information technology service provider LG CNS showcased its artificial intelligence-based English-learning app, Speaking Class, on Thursday at Edtech Korea Fair 2022, which is being held for three days starting Thursday at Coex in Gangnam, southern Seoul. The app, geared toward students in elementary through high school, hosts 71 textbooks including those from major textbook writers such as YBM, Dong-A Publishing and Mirae N. The IT firm said that unlike other English-learning apps

Technology Sept. 22, 2022

South Korean textile company Kolon Industries FnC said Wednesday it will launch an upcycled bag collection featuring pieces of stage outfits worn by BTS, through its fashion brand Re;cod, on Sept. 28. Upcycling refers to the creative reuse of old products to create new merchandise of greater quality or value. The limited edition collection includes three types of bags made from white industrial airbags. Each bag is attached with a piece from a concert outfit one of the seven BTS members wore. Th

Consumer Sept. 21, 2022

SCI Information Service and CrePASS Solution signed a new partnership on Friday to boost business cooperation and create a new credit rating model for the financially marginalized. Under the partnership, the two South Korean credit rating agencies will seek synergy by combining SCI Information Services’ accumulated credit information and CrePASS Solution’s alternative information methodologies. Their new planned credit rating model, in particular, aims to help people who have difficu

Market Sept. 20, 2022

Hyundai Steel has succeeded in producing low-carbon, high-strength steel plates, the company said Tuesday. It says it has become the first steelmaker globally to produce high-strength steel plates by using an electric arc furnace, which helps reduce carbon emissions drastically during the whole process. Electric arc furnaces are being increasingly adopted by steelmakers as they seek a strategic shift from the traditional blast furnace. Hyundai Steel said it recently produced a steel plate with m

Industry Sept. 20, 2022

The number of people visiting cinemas in June nearly reached pre-pandemic levels, about 94 percent of figures seen in January 2019, according to a study released Monday. The number of moviegoers in the first half of this year surged 178 percent compared to the same period last year, according to a Lotte Members and Shinhan Card big data study conducted by aggregating data from all Lotte Cinema locations nationwide. Young adults in their 20s made up the largest share of all moviegoers at 27.3 per

Industry Sept. 19, 2022