SEOUL, Sept. 18 (Korea Bizwire) — South Korean insurance companies will start selling autonomous car-related insurance products from late this month, the financial watchdog said Thursday. The Financial Supervisory Service announced that the nation’s 12 non-life insurance companies will start selling new insurance products that can cover the risk related to accidents involving commercial self-driving [...]
SEOUL, Sept. 17 (Korea Bizwire) — A South Korean research team has developed new technology that can decontaminate the surface of radioactive polluted buildings simply by spraying a hydrogel-based spray coater and washing it with water. The Korea Atomic Energy Research Institute announced on Wednesday that it had developed a hydrogel-based surface decontamination coater that [...]
SEOUL, Sept. 17 (Korea Bizwire) — Samsung Electronics Co. on Thursday said it will produce an 8K movie shot on Galaxy smartphones. The South Korean movie titled “Untact” will be filmed on its Galaxy S20 and Galaxy Note 20 devices in 8K resolution with a 16:9 aspect ratio, according to Samsung, except scenes that need [...]
SEOUL, Sept. 17 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Thursday that it has decided to spin off its battery business in a move to further boost its leading position in the sector amid growing demand for electric vehicle (EV) batteries. The new entity — tentatively called LG Energy Solutions [...]
SEOUL, Sept. 17 (Korea Bizwire) — KT Corp., a major South Korean mobile carrier, said Thursday it has signed an agreement with Kakao Corp.’s telecom unit Stage Five to develop an artificial intelligence-powered companion robot targeting children and the elderly. Under the agreement, also signed by Taiwan-based Nuwa Robotics Corp. and the nongovernmental organization Ashoka [...]
SEOUL, Sept. 17 (Korea Bizwire) — A new non-life insurance product to compensate individuals and businesses for financial losses caused by the spread of infectious disease like COVID-19 is expected to be available late next year. The Korea Insurance Development Institute (KIDI) announced on Wednesday that it had started developing an infectious disease risk evaluation [...]
SEOUL, Sept. 16 (Korea Bizwire) — Prosecutors on Wednesday raided BMW Korea’s office and server storage in Seoul, as part of their investigation into the German automaker’s suspected attempt to cover up mechanical defects blamed for a string of engine fires over the past years. About 20 prosecutors and investigators from the Seoul Central District [...]
SEOUL, Sept. 16 (Korea Bizwire) — Young South Koreans in their 20s and 30s are giving up on marriage and many other aspects of life due to the difficulty in securing a stable job. Duo, a local matchmaking agency, conducted a survey of 500 unmarried young adults in their 20s and 30s (250 men, 250 [...]
SEOUL, Sept. 16 (Korea Bizwire) — South Korea plans to offer financial incentives to individuals who adopt abandoned animals. The plan is to offer subsidies of up to 100,000 won (US$85.11) for each adoption as part of the country’s effort to raise awareness of respecting animal life and promote healthier ways to adopt animals, the [...]
SEOUL, Sept. 16 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, will hold a board meeting this week to discuss a spinoff of its battery business, people familiar with the matter said Wednesday. LG Chem could finalize its decision on the issue in an emergency board meeting on Thursday, they said. The [...]