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Thu, October 6, 2022 | 06:10

Heads of Samsung, SoftBank meet as attention grows on sale of Arm

Lee Jae-yong, vice chairman of Samsung Electronics, met with Masayoshi Son, founder and chairman of Japan's SoftBank, in Seoul on Tuesday, according to industry sources, Wednesday, amid rising expectations of a looming acquisition of chip architecture design company Arm by the Korean electronics giant. SoftBank purchased Arm for $32 billion in 2016. However, no specific discu...

Baek Byung-yeul | 2022-10-05 16:47

LGES launches new companies to boost battery ecosystem

LG Energy Solution has launched new in-house companies named KooRoo and AVEL to expand its battery business ecosystem, the company said Wednesday, as part of its plan to keep pace with industry developments. KooRoo and AVEL will begin operations later this month related to Battery as a Service (BaaS) and Energy as a Service (EaaS), respectively, starting this month.

Kim Jae-heun | 2022-10-05 16:36

Renault Korea Motors holds NFT event for car models

Customers of Renault Korea Motors will be able to build customized virtual cars on a metaverse platform, as part of the car company's “Create Your Epic Car” event running until Nov. 2. The participants can also receive a non-fungible token (NFT) of their virtual vehicle and win virtual currency prizes, the company said Wednesday.

2022-10-05 16:36

Gov't to nurture 30,000 young farmers, foster smart agriculture

The government will nurture 30,000 young farmers by 2027, the agriculture ministry said Wednesday, as part of a long-term plan to increase the proportion of farmers aged under 40 up to 10 percent of the total farmers by 2040, up from 1.2 percent as of 2020.

Lee Kyung-min | 2022-10-05 16:12

Agriculture minister presses BBQ to lower fried chicken prices

Yoon Hong-geun, head of Genesis BBQ, one of the country's three major fried chicken franchises, is facing mounting pressure to lower fried chicken prices, a result of his earlier miscalculation seeking to justify the prices backfiring, market watchers said Wednesday. Minister of Agriculture, Food and Rural Affairs Chung Hwang-keun said during a parliamentary audit, Tuesday, t...

Lee Kyung-min | 2022-10-05 16:00

KSOE wins 7 eco-friendly ship orders worth $1.5 billion

Korea Shipbuilding & Offshore Engineering (KSOE) signed a 1.6 trillion won ($1.1 billion) contract with Maersk of Denmark for six 17,000-TEU methanol-powered container ships and another deal worth 476 billion won with U.S.-based Excelerate Energy for a 170,000-cubic-meter liquefied natural gas floating storage and regasification unit (LNG-FSRU), the shipbuilder said Wednesday.

Park Jae-hyuk | 2022-10-05 15:29

Hyundai, Kia's US sales up 4.4% in Sept. amid chip shortage

Korea's Hyundai Motor Group said Wednesday its vehicle sales in the United States rose 4.4 percent last month from a year earlier despite the extended chip shortage.

2022-10-05 15:12

KEPCO eyes more coal-fired power generation to cut costs

Korea's state power utility said Wednesday it plans to increase coal-fired electricity generation temporarily this year in an effort to cut costs and boost financial health.

2022-10-05 11:49

Starbucks Korea had prior knowledge of toxic substance in giveaway bags: lawmaker

An opposition lawmaker claimed Tuesday that Starbucks Korea had prior knowledge that its recent giveaway merchandise contained a toxic substance for over a week before the information was made public.

2022-10-04 21:02

Ruling party questions POSCO's preparedness for Typhoon Hinnamnor

Lawmakers of the ruling People Power Party (PPP) raised questions at Tuesday's National Assembly audit on whether POSCO had taken proper countermeasures last month against Typhoon Hinnamnor, which flooded the steelmaker's main plant in Pohang, North Gyeongsang Province.

Park Jae-hyuk | 2022-10-04 20:46

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