SEOUL, Oct. 21 (Korea Bizwire) — South Korea’s Navy is seeking to create a new command running unmanned ships, submarines and aircraft in the 2040s, the armed service said Friday, in an effort to address a potential troop shortage caused by the country’s low birthrate. During a parliamentary audit, the Navy unveiled a series of [...]
SEOUL, Oct. 21 (Korea Bizwire) — South Koreans are flocking to savings banks after they raised interest rates for deposits and installment savings. Since Wednesday, the Korea Federation of Savings Banks (KSFB) website and a number of savings bank apps, including OK Savings Bank Co. that uses the KSFB servers, have been shut down due [...]
SEOUL, Oct. 21 (Korea Bizwire) — SK Innovation Co., South Korea’s largest oil refinery, said Thursday it will introduce cutting-edge robots at the Ulsan industrial complex, or Ulsan CLX, the company’s flagship refining factory site in the southeastern port city. The new robots at Ulsan CLX include a four-legged walking robot called SPOT as well [...]
SEOUL, Oct. 21 (Korea Bizwire) — The U.S. Forces Korea (USFK) on Friday disclosed footage of its recent “routine” artillery live-fire training, after North Korea fired artillery shells on the pretext of responding to such drills. In a Facebook post, the USFK said that soldiers from the 2nd Battalion, 18th Field Artillery Regiment (FAR) and [...]
SEOUL, Oct. 21 (Korea Bizwire) — South Korean arms maker Hyundai Rotem Co. on Wednesday held a ceremony to celebrate the first shipment of K2 tanks bound for Poland at its plant in Changwon, 400 kilometers south of Seoul. The company signed a 4.499 trillion won (US$3.3 billion) deal with Poland’s state defense procurement agency [...]
GWANGJU, Oct. 21 (Korea Bizwire) — A South Korea-U.S. joint research team has developed new technology that uses an artificial intelligence (AI) prediction model to predict the most forest fire vulnerable weather conditions one week before the weather condition is realized and identify the risk of forest fire before it actually breaks out. The Gwangju [...]
DAEJEON, Oct. 21 (Korea Bizwire) — South Korea’s state-run minting agency said Thursday that it signed a memorandum of understanding (MOU) with a handful of domestic companies to carry out a gold-based non-fungible token (NFT) business. To broaden the online sales channels of high-end gold products, the Korea Minting and Security Printing Corp. (KOMSCO) joined [...]
SEOUL, Oct. 20 (Korea Bizwire) — South Korean hotels are accommodating more foreigners following the government’s lifting of restrictions on tourists arriving from abroad. At 86 percent, the vast majority of all guests at RYSE, Autograph Collection, located in Hongdae, a popular entertainment district in western Seoul, were foreign tourists in the third quarter of this [...]
SEOUL, Oct. 20 (Korea Bizwire) — A boycott of South Korea’s food and beverage giant SPC Group is spreading among consumers after a young worker in her 20s died at a factory affiliated with the group. The 23-year-old employee at the factory affiliated with the group in Pyeongtaek, 65 kilometers south of Seoul, died Saturday [...]
SEOUL, Oct. 18 (Korea Bizwire) — South Korea decided to put more key technologies related to major materials, parts and equipment on its list for special management and support in a move to better ensure stable supply chains and to promote advanced industry sectors, the industry ministry said Tuesday. Following Japan’s exports curbs of key [...]