Korean defense, crypto stocks rise in wake of Trump assassination attempt

SEOUL, July 15 (AJU PRESS) - Korean defense and cryptocurrency stocks rose Monday amid growing investor expectations for Donald Trump’s win in the U.S. presidential election after an assassination attempt at a campaign event. As of 9:23 a.m. (1223 GMT), Hanwha Aerospace was trading at 262,000 won ($189.4), up 3.35 percent from the previous trading day. LIG Nex1 was trading at 255,000 won, up 4.37 percent, or 9,500 won, from the previous day. Hyundai Rotem and Hanwha Systems al

July 15, 2024

LG Electronics gets international certification for autonomous mobile robot

SEOUL, July 15 (AJU PRESS) - LG Electronics has become the first Korean company to receive a certification from global testing and certification firm DNV for a low-profile Autonomous Mobile Robot (AMR). This certification, crucial for European exports, verifies the robot's safety design and redundant control functions. The AMR, an advanced logistics robot that autonomously navigates, utilizes a safety controller that monitors sensor signals in real-time to ensure safe decelera

July 15, 2024

Number of young Korean YouTubers earning over 100 million won annually more than doubles

SEOUL, July 15 (AJU PRESS) - The number of Korean YouTubers and social media content creators under 30 years old earning more than 100 million won ($72,400) annually has more than doubled in two years, according to data from the National Tax Service (NTS) on Monday. The NTS reported that in 2022, 1,324 YouTubers aged in their 20s or younger reported incomes exceeding 100 million won, up from 528 in 2020. They accounted for the largest portion among high earners, followed by those i

July 15, 2024

LG Electronics launches air solution laboratory in Germany

SEOUL, July 15 (AJU PRESS) - LG Electronics has established a new Air Solution Laboratory in Frankfurt, Germany, expanding its heating, ventilation, and air conditioning (HVAC) research capabilities beyond Korea and the U.S. The 1,000-square-meter facility will develop high-efficiency climate solutions tailored to European conditions, testing residential, commercial and industrial products. The lab will manage the European Consortium for Advanced Heat Pump Research and recruit local

July 15, 2024

Samsung Electronics invests in U.S. DNA sequencing firm Element Biosciences

SEOUL, July 12 (AJU PRESS) - Samsung Electronics on Friday announced its participation as a strategic investor in U.S. DNA sequencing firm Element Biosciences' recent $277 million Series D funding round. The San Diego-based company founded in 2017 is known for its high-accuracy, cost-effective DNA sequencing technology. Element's flagship product, the mid-sized DNA sequencing machine AVITI, was launched in 2022. The company aims to expand globally and develop new technologie

July 12, 2024

KB Bank to offer mobile banking service to Islamic organization in Indonesia

SEOUL, July 12 (AJU PRESS) - KB Bank Syariah (KBBS), the Indonesian subsidiary of Korea's KB Kookmin Bank, has secured an exclusive deal to provide digital financial services to Muhammadiyah, a major Muslim group in Indonesia. KBBS said Thursday it signed an agreement with PT Surya Finansial Utama, the digital business unit of Muhammadiyah. With the agreement, KBBS will support the digital applications used by affiliated organizations and individual members of Muhammadiyah, a

July 12, 2024

Korea raises minimum wage above 10,000 won for first time

SEOUL, July 12 (AJU PRESS) - South Korea set next year’s minimum wage at 10,030 won ($7.70) per hour on Friday, marking the first time the rate has exceeded the 10,000 won threshold. The Minimum Wage Commission voted 14-9 to approve the 1.7 percent increase after labor representatives walked out in protest. Management had proposed 10,030 won, while labor sought 10,120 won. The modest hike, the second-lowest since 2021, reflects ongoing economic concerns. Based on a 40-hour

July 12, 2024

Pinkfong expands 'Bebefinn' franchise with theater, musical debuts

SEOUL, July 11 (AJU PRESS) - The Pinkfong Company, producer of the global children’s animation “Baby Shark,” announced the offline expansion of its “Bebefinn” animation franchise on Thursday. Launched in April 2022, the animated sing-along series depicting the heartwarming adventures of three siblings and their parents, achieved immense success on YouTube and Netflix. Marking the intellectual property's second anniversary, the company is launchin

July 11, 2024

HHI qualified to bid for US naval vessel maintenance projects

SEOUL, July 11 (AJU PRESS) - HD Hyundai Heavy Industries (HHI) has become the first Korean company authorized to bid on the U.S. Navy's ship maintenance, repair, and overhaul (MRO) projects. The world’s largest shipbuilder said Thursday it has recently signed a Master Ship Repair Agreement (MSRA) with the U.S. Navy Supply Systems Command. With the agreement, the Korean firm has secured qualification to participate in MRO project bids for support vessels of the U.S. Militar

July 11, 2024

SK to host AI, chip talent at annual US forum

SEOUL, July 11 (AJU PRESS) - SK Group of South Korea plans to hold its annual SK Global Forum in San Jose, California, from July 12-14, bringing together talent from the semiconductor and AI sectors to discuss growth strategies and industry trends, SK hynix said Thursday. The chipmaker will jointly host the event, running since 2012, with holding company SK Innovation and telecom carrier SK Telecom. This year's forum expands its invitees to include both professionals and do

July 11, 2024