Korean artificial intelligence-based cancer diagnostics company Lunit will acquire global breast cancer solutions provider Volpara Health, in a deal worth 252.5 billion won ($194.7 million), the company said Thursday. Lunit said this is the first time for it to join forces with another company via mergers and acquisitions, a significant step forward in realizing its mission to combat cancer with AI. Under the scheme implementation agreement, Lunit will acquire all of Volpara’s shares for 1

Industry Dec. 14, 2023

South Korean energy and environmental solutions provider SK Ecoplant has completed the construction of a new battery recycling plant in eastern China together with its e-waste recycling subsidiary TES, the company said Wednesday. It comes after SK Ecoplant’s Nanjing subsidiary and the local battery recycling joint venture ZCycle joined forces in April to build a pretreatment facility in Yancheng, Jiangsu province. ZCycle is a joint venture established in 2019, under the partnership between

Industry Dec. 13, 2023

SK Inc. C&C, the IT solutions unit of SK Group, attended the United Nations Climate Change Conference to showcase the South Korean industry’s efforts and technology-based solutions to achieving net-zero emissions, the company said Tuesday. COP28, an annual international conference focused on climate change, wrapped up Tuesday in Dubai, United Arab Emirates. The primary goals of the 13-day summit were to limit global warming to 1.5 degrees Celsius, help vulnerable communities adapt to c

Industry Dec. 12, 2023

Toyota Motor Korea and LG Uplus, the nation’s main telecommunications carrier, have joined hands to build an electric vehicle charging network in line with the electrification megatrend, the companies said Monday. Under the memorandum of understanding, the mobile carrier agreed to supply its EV charging platform named Voltup to the automaker. Launched last year, Voltup is an independent EV charger business led by LG Uplus. The mobile carrier takes care of the launch, management and custome

Mobility Dec. 11, 2023

The Korea Water Resources Corp., or K-water, said Saturday it attended the United Nations Climate Change Conference to represent South Korea while seeking international cooperation on tackling climate change. COP is an annual multilateral decision-making forum on climate change where almost every country gathers to address the climate crisis. Kicking off on Nov. 30, this year’s COP28 forum was held in Dubai, the United Arab Emirates, with the aim of limiting global warming to 1.5 degrees

Industry Dec. 10, 2023

Diverse, a Korean metaverse and game development company, said Monday that its Web3 gaming platform Creta has secured a new partnership with Thomas Vu, the renowned producer of the League of Legends game. Under the partnership, Creta agreed to support the game incubation business led by Vu, through which promising game developers can obtain ideas, resources and funding opportunities. Vu started his gaming career as a producer at Namco Bandai Games and Electronic Arts -- the publisher of the Sims

Companies Dec. 10, 2023

LG Electronics said Thursday it has become the ninth governing body member of the Scalable Open Architecture for Embedded Edge, also known as SOAFEE, opening up opportunities in the future mobility industry. Established in 2021, SOAFEE is a special interest group of companies working together to build a cloud-native architecture for software-defined vehicles. Last year, LG Electronics first joined the SOAFEE as a voting member, actively taking part in the technical steering committee and working

Industry Dec. 7, 2023

Citibank Korea on Wednesday shared insights on the digital market and presented overseas business opportunities to the nation’s leading digital companies during the “Korea Digital Leaders Summit 2023." The summit targeted the bank’s corporate clients, who run businesses on digital platforms including e-commerce, video games, fintech and online travel agencies. Some 30 leaders and executives from digital businesses participated in this year’s event. “We hope the

Industry Dec. 7, 2023

Posco International announced Wednesday it has signed a contract worth 300 billion won ($229 million) to supply electric vehicle parts to an American manufacturer, ramping up its presence in the green vehicles industry. Under the contract, Posco International will supply electric vehicle reducers to a major automaker based in the US from 2024 until 2032. The company declined to reveal the name of the client, citing deal conditions. A reducer can adjust the rotational speed to increase the torque

Mobility Dec. 6, 2023

KB Financial Group on Tuesday unveiled a video titled “Safeguarding Soil, A Source Of Life,” to celebrate World Soil Day, held annually on Dec. 5 to advocate for the sustainable soil management practices. The video first underscores the importance of healthy soil as an essential resource for sustaining life on Earth. It then discusses plastic, the leading cause of soil and water pollution. According to the video, plastic waste can release harmful chemicals into the surrounding soil,

Industry Dec. 5, 2023

LS Cable & System, South Korea’s leading cable manufacturer, said Monday it had launched a new Power over Ethernet cable that can support speeds up to 5 gigabits per second (Gbps), the world’s fastest for data transmission. PoE cables are capable of delivering both data and electric power in a single Ethernet cable, and are easy to install in places such as ceilings and between gaps. It is utilized to transmit data and power to security cameras, digital signage, and audio-visual

Technology Dec. 4, 2023

Hana Financial Group has strengthened its unwavering support to keep promising women on the road to success via Hana Waves, an annual in-house program that has nurtured nearly 100 future female leaders since its establishment in 2021. Under the slogan “Women’s Actions, Voice, Emotion,” Hana launched Hana Waves with an aim to boost the group's gender diversity efforts at the senior executive level. The members were recommended by CEOs of Hana affiliates as potential femal

Market Nov. 30, 2023

Mirae Asset Global Investments has tapped into mainland China’s exchange-traded fund market, becoming the first Korean asset manager to do so. The Global X Hang Seng Tech ETF is the first eligible ETF under Mirae Asset to participate in the Hong Kong-China ETF Connect. The Global X Hang Seng Tech ETF is operated by the asset manager’s ETF arm Global X based in Hong Kong. Tracking the Hang Seng Tech index, the investments are concentrated in the 30 largest companies that are active in

Market Nov. 30, 2023

KB Kookmin Bank has been striving to be a first mover that takes initiatives in the banking industry and develops innovative financial services by growing in line with its customers. For nine consecutive years, KB Kookmin Bank has ranked at No. 1 in the banking category of the National Customer Satisfaction Index, and once again secured first place in the latest report, released in early November. With “kookmin” meaning “people” in Korean, KB Kookmin Bank CEO Lee Jae-keun

Companies Nov. 30, 2023

Some 350 flats at Hyundai Engineering & Construction's new apartment complex, Hillstate Gayang The Wise, located in Gayang-dong, Daejeon, will go on sale in December. The 358 units at the three-building apartment complex range from 84 square meters to 155 square meters. At 49 stories high, Hillstate Gayang The Wise will become the tallest residential building in East Daejeon. Residents are expected to move in starting from next October. The complex is right next to the Daejeon bus termi

Industry Nov. 29, 2023