The NFT 2023 Seoul Conference on Friday focused the connection between non-fungible tokens (NFTs) and Web3 infrastructure as well as the role of Security Token Offerings in fundraising. Patrick Yoon from cryptocurrency exchange company Crypto.com Korea opened the sessions by talking about the the growth trajectory Web3. He predicted a $50 trillion-$60 trillion Web3 valuation by 2030, with NFTs poised to claim 10 to 15 percent of the digital asset valuation by that time. "NFT creators have m

Industry Sept. 4, 2023

SK On announced on Thursday that it has developed in collaboration with Dankook University an innovative solid-state battery component that is expected to significantly extend battery lifespans and reduce charging times, with implications across industries, from portable devices to electric transportation. The component is a new oxide-based solid-state electrolyte called lithium-lanthanum-zirconium-oxygen, or LLZO, and boasts the highest lithium-ion conductivity to date. The findings of the rese

Mobility Aug. 31, 2023

Hyundai Engineering & Construction has started sales of its new apartment complex, Hilstate Sinyong The River, located in Gwangju’s Sinyong district. The apartment complex consists of a total of 19 buildings with 1,647 housing units, which range from 74-square-meter homes to 135-square-meter luxurious penthouses. According to the builder, one of the standout features is its strategic location. The complex is near the brand new Sinyong Station of Gwangju Metro Line 2, set to be operatio

Consumer Aug. 30, 2023

Hyundai Steel, in collaboration with Hyundai Motor Group's in-house startup 3I Solution, has developed an Industrial Neutron Composition Analyzer that accelerates steel manufacturing by evaluating raw materials, such iron ore and scrap metal, in real time. By providing real-time feedback, it allows Hyundai Steel to quickly achieve the right balance in their materials, sometimes referred to as optimal chemical composition. This balance not only ensures the consistent quality of the steel pro

Industry Aug. 30, 2023

Sapeon, a global AI semiconductor company that spun out from SK Telecom last year, announced Wednesday it concluded its Series A financing round, securing over 60 billion won ($45.4 million) in investments. With the latest round, the company's valuation now exceeds 500 billion won. Ascent Equity Partners led the financing as the primary investor. Other key investors included GS Group affiliates like Daebo Communication & Systems Corp., Hana Financial Group, Mirae Asset Venture Investmen

Industry Aug. 30, 2023

Kakao Pay, the online payment subsidiary of Kakao Corp, announced Tuesday it has expanded to Thailand, making the service available at major payment points from department stores and pharmacies to a taxi-hailing platform. Central Retail, one of Thailand's largest retail corporations, now supports Kakao Pay at over 3,000 of its locations. These include department stores like Central World and Central Embassy, drugstores such as Kiyoshi Matsumoto and retail outlets like Muji and Tops Club. St

Technology Aug. 29, 2023

NFT 2023 Seoul Conference is scheduled to take place on Friday at Coex in southern Seoul to explore the interplay between non-fungible tokens, digital assets such as art and the Web3 framework that enables new decentralized digital asset marketplaces. The event will be organized by The Korea Herald, the nation’s largest English daily, together with ArtToken, an NFT-based art marketplace, and Seoul-based Soongsil University. Other key partners include Crypto.com, Blockchain Today and Bloomi

Technology Aug. 28, 2023

South Korea’s Ministry of Land, Infrastructure and Transport on Sunday announced a set of new guidelines to enhance the safety of personality mobility, or PM, vehicles such as electric scooters. As part of the ministry’s revision bill, the new guidelines will be applied for building new roads for better safety of both pedestrians and vehicles, especially dedicated lanes for PM vehicles. The revision mandates that when road management bodies conceptualize or revamp PM-only lanes, they

Mobility Aug. 27, 2023

Posco International announced Thursday that it has exported a swine pneumonia vaccine Vietnam's to National Veterinary Joint Stock Company or NAVETCO, marking Posco's first overseas animal vaccine export. Developed by Innovac, a venture company run by a group of researchers at Kangwon National University, the vaccine, called INO MHP, can immunize around 100,000 pigs, the company said. The swine pneumonia vaccine is vital for Vietnam due to its significant pig population and pork being

Industry Aug. 24, 2023

Doosan Robotics, in partnership with Microsoft and Doosan Digital Innovation, is set to develop a context-aware control system for collaborative robots, or “cobots,” based on generative pre-trained transformer technology. The partnership was formalized Thursday through a memorandum of understanding for Doosan Robotics to employ Microsoft's Azure OpenAI Service for a GPT-based robot control system. Azure will provide access to the GPT language model while Doosan Digital Innovatio

Industry Aug. 24, 2023

The outsized reaction to the LK-99 superconductor in South Korea could very much be due to people’s desperate need to escape reality. In the past few weeks, young Koreans online fantasized about a unified nation with dominant global power, all thanks to the homegrown invention of a room-temperature superconductor. These whimsical scenarios, spreading like wildfire on online communities and social media, portrayed a world where South Korea gets a seat at the UN Security Council, the won b

Technology Aug. 22, 2023

South Korean electric vehicle battery maker SK On announced Friday a joint investment of 1.2 billion Canadian dollars ($887 million) with Ford and Korean battery manufacturer EcoProBM to construct a cathode manufacturing facility in Quebec, Canada. This collaboration aims to ensure a consistent supply of cathode material for SK On and expand EcoProBM's market reach. The facility spans 278,000 square meters and is projected for completion by 2026. Once operational, it is expected to annually

Industry Aug. 18, 2023

Innospace, a South Korean startup specializing in hybrid space rockets and small satellites, announced Thursday that it secured a five-year agreement with Equatorial Launch Australia, a space launch services provider, to conduct orbital launches from the provider’s Arnhem Space Centre for its HANBIT family of launch vehicles. The contract, lasting until December 2028, guarantees ELA's assistance in securing an Australian launch permit for the company, increasing optimal launch sites f

Technology Aug. 18, 2023

McDonald's Korea on Monday held a special book talk event in Jung-gu, Seoul, to delve into "McDonald's 35 Years of Brand Story in Korea," the two-volume series published last month for the fast food chain's 35th anniversary in Korea. During the event, author Kang Han-ki and McDonald's Korea's Senior Director of Corporate Relations Shim Nari, who spearheaded the development of the book, shed some light on the book's development. “Such a project usuall

Consumer Aug. 16, 2023

"No no. Google Maps won’t guide you well here. Oh, you downloaded the English version of Naver Map? Most of the content there is not translated." This is the line Kim Seong-hee, a guide working at the Tourist Information Center (East) in Incheon Airport Terminal 1, repeats almost fifty times a day to tourists confused about whether they can use Google Maps or local map services. Such requests constitute half her inquiries, she said. This problem isn’t new. As of April 2023,

Technology Aug. 14, 2023