Innospace, a South Korean startup specializing in developing hybrid space rockets, said Monday that it will go public on the country’s tech-heavy bourse Kosdaq next month, spearheading the private sector’s space shuttle era. “In order to commercialize space projects such as data services using communications and Earth-observing satellites, space exploration, space travel and asteroid mining, space launch vehicles, which can carry satellites, people and supplies to space, are a

Companies June 17, 2024

진행자: 간형우, Kevin Lee Selzer Sales of warehouse stores rise amid high dining-out costs 기사 요약: 외식 물가 상승으로 인한 반사 이익으로 매출 증가 겪는 대형마트들 [1] Warehouse stores in Korea have seen a rise in sales, drawn by bulk sizes of fresh ingredients at lower prices as people opt for cooking at home rather than eating out, amid increasing prices. *warehouse store: 창고형 매장 (대형마트) *bulk: 큰, 대부분 *opt for ~ : ~을 선택하다 [2] From January through April, sales of Traders Wholesale Club, the warehouse-type discount store owned b

Podcast June 17, 2024

BMW Group’s premium compact car brand Mini has come back with a bigger, simpler and more digitalized model -- the new Mini Countryman -- as it aims to expand its turf. The Korea Herald participated in the Mini Countryman’s launch ceremony and media test drive event in Seoul on Thursday. The newest, third-generation Mini Countryman marked the product’s first fully changed model since its second-generation model was launched in 2017. The car's most distinguishable features a

Mobility June 16, 2024

Doosan Bobcat, a South Korean industrial machinery builder under Doosan Group, has broken ground on a new manufacturing plant in Monterrey, Mexico, to handle increasing demand for loaders in the North American market, the company said Friday. Officials from Doosan Bobcat and the Mexican local government took part in the groundbreaking ceremony held on Thursday local time. The new overseas site will be Doosan Group’s first manufacturing facility in Mexico. Doosan Bobcat will invest $300 mil

Companies June 14, 2024

진행자: 간형우, Kevin Lee Selzer Faker makes history again with Hall of Legends induction 기사 요약: 리그오브레전드 '전설의 전당' 초대 헌액자에 등극한 ‘페이커’ 이상혁 [1] South Korean esports legend Lee “Faker” Sang-hyeok, an undisputed superstar in the world of competitive gaming, etched his name as the first-ever inductee to the Hall of Legends at The Shilla Seoul in Jung-gu, central Seoul, Thursday. *undisputed: 반박의 여지가 없는 *etch: 식각하다, 아로새기다, 뚜렷이 새기다 *inductee: (스포츠, 예술의 전당 등이) 헌액자, (군대) 징집병,

Podcast June 13, 2024

Hyundai Motor Company’s hydrogen-powered truck Xcient Fuel Cell has surpassed 10 million kilometers in accumulated mileage in Switzerland, the South Korean automaker announced Wednesday. The milestone came three years and eight months after the world’s first mass-produced hydrogen-electric truck began to hit the roads in Switzerland in Oct. 2020. Currently, there are 48 Xcient Fuel Cells in operation in the central European country. The truck, which is equipped with a 180-kilowatt hy

Mobility June 12, 2024

Hyundai Motor Company has acquired the domestic hydrogen fuel cell business from the auto conglomerate’s affiliate and auto parts maker Hyundai Mobis to speed up its technological innovation and product development, the automaker said Sunday. According to Hyundai Motor, the takeover was officially completed last month to gather Mobis’ hydrogen fuel cell facilities, assets and personnel in one place. With the acquisition, Hyundai Motor set up a new process quality unit under its resea

Mobility June 9, 2024

DAEJEON -- Lee Kwang-hyung, president of the Korea Advanced Institute of Science and Technology, underscored the importance of controlling new artificial intelligence technology ethically in his speech at Innovate Korea 2024, held at the Lyu Keun-chul Sports Complex in Daejeon on Wednesday. “In the era of ‘humanism 2.0,’ we are living with ordinary humans, physically improved humans, mentally enhanced humans and AI," he said. “I think that our country and our society

Technology June 7, 2024

DAEJEON -- Innovate Korea 2024, a major annual science and information communication technology forum hosted by Herald Media Group, shed light on the new form of humanity in the era of advanced artificial intelligence on Wednesday, sharing insights from various experts across a wide range of professions. This year’s event at the Korea Advanced Institute of Science and Technology in Daejeon featured K-pop star G-Dragon, who took part in a panel discussion. Some 3,000 participants gathered,

Technology June 7, 2024

Krafton, the developer of the popular shooting game PUBG: Battlegrounds, is looking to go beyond the boundaries of its main sector -- developing and publishing games -- in India in the long term as the company is focused on becoming a local publisher offering popular games in the world’s most populous country. “The biggest goal for now is to become a true local publisher that publishes games beloved by the Indian game market besides BGMI,“ said Sohn Hyun-il, CEO of Krafton Indi

Companies June 5, 2024

HD Hyundai has partnered with global leaders in the maritime classification and registration sectors to develop a new structure for ships by removing blind spots on vessels, the Korean shipbuilding conglomerate said Tuesday. For the development of AI technology, HD Hyundai signed a memorandum of understanding with the American Bureau of Shipping and the Liberian Registry at Posidonia 2024, one of the world’s largest shipping exhibitions, held in Athens, Greece this week. About 2,000 compan

Companies June 4, 2024

South Korea has approved a large-scale project to carry out exploration drilling of potentially massive gas and oil reserves, which could hold up to 14 billion barrels of gas and oil in the deep sea off the country’s southeastern coast, President Yoon Suk Yeol announced Monday. Yoon highlighted that the maximum amount of buried gas and oil would be enough for the country to use for 29 years and four years, respectively. He said the government entrusted Act-Geo, a top global deep-sea techno

Industry June 3, 2024

The Korea AeroSpace Administration, the government’s new space body, officially began operations last week with the hope of vaulting the country into the category of the top five space leaders across the globe. Steve Chien, a longtime artificial intelligence expert at the US National Aeronautics and Space Administration, says the space sector should try to have a “balanced portfolio.” “You have the government. You have big companies. You have small companies. You have uni

Industry June 2, 2024

Hanwha Ocean has bolstered its partnerships with Canadian companies to strengthen its submarine businesses, the Korean shipbuilder said Friday. According to the company, Hanwha Ocean signed a teaming agreement with CAE, a Canadian simulation technologies developer that provides integrated live, virtual and constructive training solutions for defense forces, at Canada's largest defense and security trade show CANSEC in Ottawa. Hanwha Ocean and Hanwha Aerospace were the only Korean firms to p

Companies May 31, 2024

Hanwha Group has made the list of Time magazine's 100 Most Influential Companies in the world for the first time, as the only Korean company recognized this year. The list, which was unveiled on Thursday, described Hanwha as the "Lockheed Martin" of Asia, pointing out that the conglomerate had a good business year amid the ongoing global geopolitical crises. The US magazine noted that Hanwha Aerospace's market value jumped 69 percent last year to top $7.8 billion through sign

Companies May 31, 2024