SEOUL, Nov. 21 (Korea Bizwire) — South Korea has nearly quadrupled its investment in “bio big data” over the past five years, reflecting the government’s drive to strengthen the country’s competitiveness in next-generation drug development and digital healthcare. According to a new report by the National Center for Biotechnology Policy Research, government investment in the sector [...]
SEOUL, Nov. 21 (Korea Bizwire) — Polestar CEO Michael Lohscheller underscored the strategic importance of the company’s Busan production base, describing it as a critical bridge between Asian and North American markets as the premium electric-vehicle maker expands its global manufacturing footprint. Speaking with Korean reporters on Nov. 20 at Polestar Seoul Space in Yongsan, Lohscheller [...]
LE CASTELLET, France, Nov. 21 (Korea Bizwire) — Genesis, Hyundai Motor Group’s luxury brand, marked its 10th anniversary with the world premiere of its first high-performance production model, the GV60 Magma, unveiling the vehicle at the Paul Ricard Circuit on Thursday as it charts a bold new course in the premium sports-car segment. “With Genesis becoming [...]
SEOUL, Nov. 20 (Korea Bizwire) – The government on Thursday designated the southern industrial city of Gwangyang as a special crisis-response zone, as its steel-dependent economy faces mounting strain from global oversupply and intensifying trade protectionism, the industry ministry said. Gwangyang, about 350 kilometers south of Seoul, was chosen because the steel sector accounts for [...]
SEOUL, Nov. 20 (Korea Bizwire) – SK On, the wholly owned battery subsidiary of South Korea’s leading refiner SK Innovation Co., said Thursday it will swap stakes in its joint ventures with a Chinese partner as part of a “portfolio rebalancing” strategy. SK On and EVE Power Hongkong Co. established two electric vehicle battery joint [...]
SEOUL, Nov. 20 (Korea Bizwire) — Kakao’s real-time bus-tracking feature, which displays vehicle locations with 10-centimeter accuracy, is delivering measurable time savings for riders — nearly two hours per month — according to a new academic study commissioned by the company. Kakao said on Nov. 20 that research teams from Seoul National University and KAIST analyzed [...]
SEOUL, Nov. 20 (Korea Bizwire) – HD Hyundai, South Korea’s leading shipbuilding group, on Thursday announced a partnership with the Ulsan National Institute of Science & Technology (UNIST) to speed up efforts to apply artificial intelligence (AI) technologies in the shipbuilding industry. Under the agreement involving HD Korea Shipbuilding & Offshore Engineering Co., HD Hyundai [...]
SEOUL, Nov. 20 (Korea Bizwire) — Once a nostalgic winter street snack sold from roadside carts, bungeoppang — Korea’s fish-shaped pastry filled traditionally with sweet red bean — is fast becoming a breakout product in the global bakery market, buoyed by advances in frozen food technology and the worldwide rise of Korean pop culture. According to [...]
SEOUL, Nov. 20 (Korea Bizwire) — POSCO International is deepening its push into the global biofuel market with a sweeping expansion of its palm oil business, announcing a major acquisition in Indonesia alongside the completion of a new refinery jointly built with GS Caltex. The company said on Nov. 20 that it has acquired a controlling [...]
SEOUL, Nov. 20 (Korea Bizwire) – GS Caltex Corp., South Korea’s second-largest refiner by sales, said Thursday it has completed construction of a major palm oil refining facility in Indonesia, as the company expands its presence in the Asian biofuel market. An opening ceremony for the facility, named AGPA Refinery Complex (ARC), located in an [...]