Samsung starts industry's first mass production of QLC 9th-generation V-NAND

SEOUL, September 12 (AJP) - Samsung Electronics has announced the industry's first mass production of 1-terabit quad-level cell (QLC) 9th-generation vertical NAND. This breakthrough follows their April launch of triple-level cell (TLC) 9th-generation V-NAND, solidifying Samsung's leadership in high-capacity, high-performance NAND flash markets. The new V-NAND utilizes innovative "channel hole etching" technology to achieve the highest layer count in the industry wi

September 12, 2024

Woori Bank opens two new branches in India

SEOUL, September 12 (AJP) - Woori Bank said Thursday it has opened new branches in Pune and Ahmedabad in Western India. The Korean lender currently operates three branches in the country -- in Chennai, Gurugram, and Mumbai. The Pune branch in Maharashtra will focus on providing operational funds to support business expansion for both Korean and Indian companies. The Ahmedabad branch in Gujarat will concentrate on offering financial services to Indian small and medium-sized e

September 12, 2024

Korea approves nuclear reactor construction for first time in 8 years

SEOUL, September 12 (AJP) - The Korean government approved the construction of new nuclear reactors for the first time in more than eight years on Thursday, as the country seeks to expand atomic power to meet its net-zero targets and enhance energy security. The Nuclear Safety and Security Commission (NSSC) granted the construction permit for the third and fourth units of the Shin-Hanul nuclear power plant located in the southeastern county of Uljin. It has been eight years since K

September 12, 2024

POSCO Future M secures 1.8 trillion won battery material deal amid EV slowdown

SEOUL, September 12 (AJP) — POSCO Future M, a battery materials subsidiary of steelmaker POSCO, has secured a contract worth about 1.8 trillion won ($1.3 billion) to supply high-nickel cathode materials for electric vehicle (EV) batteries. The company announced the deal in a regulatory filing on Wednesday but did not disclose the name of the customer or other details, citing a confidentiality agreement. The contract value represents about 38.8 percent of POSCO Future M'

September 12, 2024

Pulmuone exports frozen gimbap to China

SEOUL, September 12 (AJP) — Pulmuone said Thursday that it has become the first Korean company to export frozen gimbap, Korean seaweed rice rolls, to major retail outlets in China. The fresh food company has launched its Tuna Gimbap in Sam's Club, which operates 49 stores in major Chinese cities. Pulmuone aims to export about 620,000 packs annually, including approximately 136,000 packs this month alone. The company sees significant potential in the Chinese market, c

September 12, 2024

LG CNS launches IT service joint venture in Indonesia

SEOUL, September 11 (AJP) – Korea's IT solutions provider LG CNS has officially launched its joint venture with Indonesia's Sinar Mas in Jakarta. The new company, LG Sinar Mas Technology Solutions, aims to leverage the strengths of both parent companies to provide advanced data center services, cloud migration, and digital transformation solutions, LG said. The venture also plans to expand its offerings to include smart city development and financial IT services. Th

September 11, 2024

SK Hynix develops high-performance solid-state drive for data centers

SEOUL, September 11 (AJP) - SK hynix has unveiled its new high-performance solid-state drive (SSD) for data centers, the PEB110 E1.S. This latest offering incorporates PCIe (peripheral component interconnect express) 5th generation technology, doubling performance and improving power efficiency by over 30 percent compared to previous generations. The PEB110 achieves data transfer speeds of 32 gigabytes per second (GTs) and is the first SK hynix data center SSD to feature security pr

September 11, 2024

LG's AI Home Hub, AeroCat steal the spotlight at IFA 2024

SEOUL, September 11 (AJP) - LG Electronics' mobile AI Home Hub, codenamed Q9, has received high praise from international media at IFA 2024 in Berlin. The device, which features LG's AI agent FURON and autonomous navigation capabilities, was named the best product in various categories by prominent tech publications. TechRadar explained it as "the first robot that made me think it had personality and was worth buying," crowning it the best smart home tech at IFA

September 11, 2024

Tmon, WeMakePrice placed under court receivership amid e-commerce payment crisis

SEOUL, September 10 (AJP) - A Seoul court on Tuesday approved placing struggling e-commerce platforms, WeMakePrice and Tmon, under judicial receivership in the wake of a major payment delay crisis. On July 29, both companies applied for the corporate rehabilitation process with the Seoul Bankruptcy Court, citing an inability to recover their financial situation due to a large-scale refund crisis and the loss of business partners. The court accepted the application and will appoin

September 10, 2024