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[News Article] Hanon Systems to build $170 million factory in Tennessee

Hanon Systems to build $170 million factory in Tennessee​BY SARAH CHEA, Korea JoongAng Daily - Hanon Systems will invest $170 million to build an automotive thermal solutions factory in Tennessee, aiming to expand its presence in the fast-growing EV market.  The factory, which will be situated in Loudon County, Tennessee, will be Hanon Systems' fourth factory in the United States.   Daejeon-based Hanon Systems produces thermal solutions for automotive manufacturers. This includes heating ventilation, air-conditioning, powertrain cooling, compressors, fluid transport, electronics and fluid pressure.   The thermal solutions produced at the factory will be supplied to automakers with facilities in the North American region. Around 600 new jobs will be created.   “Tennessee is at the center of the automotive industry, and Hanon Systems’ decision to invest nearly $170 million in Loudon County is a testament to Tennessee’s unmatched business climate, thriving economy and highly skilled workforce," said Bill Lee, governor of Tennessee. "I thank Hanon Systems for creating 600 new jobs that will create a tremendous opportunity for Tennesseans across the region." On Tuesday, SK On named Sung Min-suk, the former CEO of Hanon Systems, as its first chief commercial officer. SK On is an EV battery maker 100 percent owned by SK Innovation. Source: https://koreajoongangdaily.joins.com/2023/08/02/business/industry/korea-hanon-systems-sk-on/20230802135012395.html 

2023.08.03

[News Article] Hyundai Motor to invest $50 mil. in Canadian AI startup

Hyundai Motor to invest $50 mil. in Canadian AI startup    The Korea Times - Hyundai Motor Group said Thursday it will invest $50 million in Canadian artificial intelligence (AI) semiconductor startup Tenstorrent as it seeks to integrate AI into its future mobility solutions. Hyundai Motor and its smaller affiliate Kia will invest $30 million and $20 million, respectively, in Tenstorrent as they want to jointly develop optimized semiconductors for their next-generation vehicles, the group said in a statement. "With this investment, the group expects to develop optimized but differentiated semiconductor technology that will aid future mobilities and strengthen internal capabilities in AI technology development," Kim Heung-soo, executive vice president and head of the global strategy office at Hyundai Motor Group, said in the statement. The newly developed high-performance semiconductors will be used in central processing units (CPU) and neural processing units (NPU) for future vehicles and mobility solutions, it said. Hyundai and Kia's investment accounts for half of Tenstorrent's latest funding round valued at $100 million. Tenstorrent, established in 2016, focuses on developing advanced processors to accelerate AI and machine learning workloads. Tenstorrent and the Korean carmakers plan to expand their partnership from automotive chips to robotics and advanced air mobility (AAM) solutions in the long term. AAM encompasses the urban air mobility and regional air mobility segments to offer environmentally friendly air mobility solutions for intracity and intercity transportation. Source: https://www.koreatimes.co.kr/www/tech/2023/08/419_356272.html​ 

2023.08.03

[News Article] Almonty advances Sangdong tungsten mine in South Korea

Almonty advances Sangdong tungsten mine in South Korea By Marilyn Scales, Canadian Mining - Almonty Industries says June and July were particularly busy at its tungsten mine development project in South Korea. The Metso protection screen and reclaim feeders arrived. This followed the arrive of the semi-autogenous grinding (SAG) mill and ball mill. Delivery of the grizzly screens and UFS screens from France and Brazil will be next, followed by the shipping of the apron feeder from Turkey. Engineering and civil works are also advancing. Detailed plans for the crusher are and stockpile were completed. Drawings for the grinding and classification sections will be the next to be finalized. The Sangdong mine was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside China. Almonty acquired it in 2015 when its bought 100% in former owner Woulfe Mining. The fully permitted mine has a potential life of 90 years and is being reopened at a cost of only US$75 million. Project commissioning will be complete by the end of 2024, followed by a 12-month ramp-up period. The first phase of production will average 2.3 million tonnes of tungsten oxide (WO3) annually. The second phase expansion will boost that to 4.8 million t/y. The second phase also includes a tungsten oxide plant. The Sangdong deposits contains an estimated proven and probable reserve of 7.9 million tonnes  grading 0.45% WO3. The measured and indicated resources, including reserves, are 8.3 million tonnes at 0.49% WO3, and the inferred resource is 52.8 million tonnes at 0.44% WO3. Source:https://www.canadianminingjournal.com/news/almonty-advances-sangdong-tungsten-mine-in-south-korea/ 

2023.08.03

[News Article] LG Energy Solution converts 56% of electricity into renewable energy

LG Energy Solution converts 56% of electricity into renewable energy   By Sungsu Bae, The Korea Economic Daily - South Korea’s lithium-ion battery maker LG Energy Solution Ltd. on Monday released a report containing the company’s environmental, social and governance (ESG) management activities and results over the past year.  The highlights included a 56% rate of company-wide power conversion based on renewable energy, recycling of 97% of electrode material solvent, the nation’s first membership in the Fair Cobalt Alliance, and acquisition of the workplace safety and health management standard ISO 45001. “In a first for the domestic battery industry, we complied with the disclosure guidelines of the Task Force on Climate-related Financial Disclosures and transparently released financial and climate-related information,” a company source said. The report also described company activities to conserve biodiversity. From last year to July this year, LG Energy Solutions released about 130 Class 2 endangered species of giant waterbugs to wetlands near its Ochang Energy Plant in Cheongju, North Chungcheong Province. “We will endlessly innovate to contribute to global carbon neutrality and the future of humankind and achieve our goal of becoming the world’s best company trusted and loved by customers,” LG Energy Solution CEO and Vice Chairman Kwon Young-soo said. Source: https://www.kedglobal.com/esg/newsView/ked202308010007 

2023.08.03

[News Article] 구글, 아시아 여성 창업가 대상 AI 스타트업 펀드 신설

구글, 아시아 여성 창업가 대상 AI 스타트업 펀드 신설   연합뉴스 이정현 기자 - 구글은 인공지능(AI) 스타트업을 준비하는 아시아 지역 여성 창업가들을 위한 '구글 스타트업 캠퍼스 여성 파운더스 펀드'라는 새로운 기금을 선보인다고 2일 공식 블로그를 통해 밝혔다. 이 펀드로 인도, 일본, 한국에서 여성 창업가들이 설립한 AI 스타트업 6곳에 각 10만 달러(약 1억3천만원)의 무상 출연금과 구글 전문가들의 멘토링을 제공할 예정이다. 구글은 현재 아시아 태평양 지역의 스타트업 창업자 중 여성 창업가는 단 5.7%에 불과하며, 이 비율은 지난 5년간 변화가 거의 없었다고 펀드 신설 배경에 관해 설명했다. AI 기술이 빠르게 발전하고 있음에도 여성들은 여전히 AI 연구와 개발에서 소외되고 있으며, 이는 AI 알고리즘에 남성 편향적인 시각이 반영되는 원인이 될 수 있기 때문에 더 많은 여성이 AI 혁신의 과정에 적극적으로 참여할 수 있어야 한다고도 강조했다. 한국의 핀테크 스타트업인 '핀다'의 창업가인 이혜민 대표는 2016년 구글 스타트업 캠퍼스 프로그램에 참여한 후 자사의 AI 기반 디지털 대출 플랫폼을 성장시키기 위한 초기 투자를 유치했다. 이 대표는 "여성 창업가들에게는 아이디어에 대한 신뢰를 쌓을 수 있는 지원과 서로를 응원하며 같은 생각을 가진 사람들로 구성된 커뮤니티가 필요하다"고 말했다. 인도, 일본, 한국의 관심 있는 스타트업들은 오는 15일까지 여성 파운더스 펀드에 지원할 수 있다. 출처: https://www.yna.co.kr/view/AKR20230802038900017?input=1179m 

2023.08.03

[News Article] Hyundai Motor publishes white paper on successful COVID-19 pandemic response

Hyundai Motor publishes white paper on successful COVID-19 pandemic response    By Baek Byung-yeul, The Korea Times - Hyundai Motor has published a white paper on how the company has successfully responded to the COVID-19 pandemic over the past three years in an effort to use it as a manual in the event of similar infection outbreaks in the future, the carmaker said Monday. The white paper covers the crisis and response process over the past three years, from the first case of COVID-19 in 2020 to the transition to endemic status in 2023, the company said. The company said, "Specifically, the white paper includes a timeline of Hyundai Motor's COVID-19 response," the company said. "It is comprised of five parts such as turning on the emergency lights during COVID-19; turning on the epidemic prevention engine to overcome; grasping the steering wheel to end the epidemic; and starting the engine again for the future." This white paper provides a definition and overview of COVID-19, as well as statistical information on the number of confirmed cases among Hyundai Motor employees globally and domestically. It also introduces the company's emergency response system and prevention and quarantine activities at each of its plants, as well as recommendations from medical and quarantine experts and testimonials from employees in the COVID-19 response department about their efforts over the past three years. "After more than three years of COVID-19, I believe that our nation's and our company's infectious disease response system has progressed a step forward from where it was lacking," an employee of the response team wrote in the white paper. "I hope that the experience of COVID-19 will serve as a springboard for everyone to work together to overcome the next time an infectious disease occurs." Hyundai Motor said it distributed the white paper to all employees and also shared it with organizations such as the Korean Enterprises Federation, the Ministry of Employment and Labor and the Seocho District Office in Seoul, so that various organizations could use it as a response manual. "We are grateful to Hyundai Motor employees for their efforts during the COVID-19 pandemic," Chang Jae-hoon, CEO of Hyundai Motor, said. "The white paper summarizes how Hyundai Motor employees overcame the crisis and is expected to serve as a manual for overcoming the post-COVID-19 crisis." Source: https://koreatimes.co.kr/www/tech/2023/08/129_356047.html 

2023.08.02

[News Article] Emart partners with KOTRA to help S.Korean SMEs export

Emart partners with KOTRA to help S.Korean SMEs export  By Young Chan Song, The Korea Economic Daily - South Korea’s largest hypermarket chain Emart Inc. is partnering with Korea Trade-Investment Promotion Agency (KOTRA) to expand its overseas franchises and expand exports of small and medium-sized suppliers. Emart announced on Thursday that it has signed a business agreement with KOTRA to support the overseas expansion of Emart and its partners. Under the agreement, KOTRA will identify suitable partners for Emart's overseas franchise business through 129 trade offices in 84 countries around the world and support consultation and contact. Through this, Emart plans to expand its overseas franchise stores and actively support the export of excellent Korean SME products. Emart's distribution know-how and KOTRA's overseas network are expected to create synergistic effects. Emart currently operates two and three hypermarkets in Vietnam and Mongolia, respectively, and 18 no-brand specialty stores in the Philippines under the franchise format. These stores have been serving as a bridgehead for exporting excellent Korean SME products. As of last year, 433 SMEs exported their products through Emart's overseas franchise stores. "Emart's overseas franchise stores are an important platform for the export of excellent Korean SME products," said Kang Hee-seok, CEO of Emart. "We hope that this collaboration between KOTRA and Emart will serve as a shared growth model to promote SME products to more countries."  Source: https://www.kedglobal.com/retail/newsView/ked202307270016 

2023.08.02