Korean Air chosen to develop combat drones
Aug 18, 2022 22:39 pm UTC| Business Economy
Korean Air Lines Co. has been chosen by the state-run Agency for Defense Development (ADD) as a preferred bidder to spearhead the development of unmanned combat aerial vehicles (UCAVs). The ADD recently finished the...
LG Electronics, KT sign deal for service robot business collaboration
Aug 18, 2022 09:55 am UTC| Business Economy
LG Electronics and KT announced they have teamed up to work on the AI service robot business together. The two firms signed a memorandum of understanding (MOU) on Wednesday, Aug. 17, as a strategy for expanding their...
Nongshim reports first loss in 24 years, lags behind Ottogi, Samyang rivals
Aug 18, 2022 09:45 am UTC| Business Economy
Nongshim, a South Korean food and beverage company headquartered in Seoul, has been reigning as the no. 1 instant noodle maker for decades. However, in the financial report for the second quarter of this year, the company...
Shinsegae to build a first-of-its-kind Starfield shopping mall in Gwangju
Aug 18, 2022 09:32 am UTC| Business Economy
Shinsegae confirmed that it will be building a mega shopping mall in Gwanju, and it will be called the Starfield Gwanju. The company said on Wednesday, Aug. 17, that this would be an integrated mall that will be a first of...
SK acquires controlling stake in US’ Atom Power energy solutions company
Aug 18, 2022 08:27 am UTC| Business Economy
SK Group, the second largest company in South Korea, announced on Thursday, Aug. 17, that it has acquired a major controlling stake in Atom Power Inc., a US-based energy solutions firm, to further expand its business in...
Amazon to raise seller fees to cope with soaring inflation
Aug 18, 2022 08:15 am UTC| Business Economy
Amazon is having difficulties due to the soaring inflation, thus it is implementing an increase in seller fees to cope. It was reported that the e-commerce giant would be raising fulfillment fees during the holiday...
HiteJinro unionized cargo drivers occupy the company’s HQ during strike
Aug 18, 2022 08:03 am UTC| Business Economy
HiteJinro delivery drivers continue with their protest to demand a raise in delivery fees. In the groups latest strike, it was reported that the workers became more aggressive and occupied the brewing and distiller...
South Africa’s plan to move away from coal: 8 steps to make it succeed
Germany lowers voting age to 16 for the European elections
IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects