Lotte Biologics breaks ground on new biopharmaceutical plant in Songdo

SEOUL, July 3 (AJU PRESS) - Lotte Biologics Co., a Korean contract development and manufacturing organization (CDMO), began construction of a new biopharmaceutical manufacturing plant in Songdo, Incheon, on Wednesday. The facility, slated for completion in the first quarter of 2026, will have a production capacity of 120,000 liters of biomedicines. The company plans to build two additional plants of similar scale at the Songdo campus, aiming to establish a total production capacity

July 3, 2024

CEO of Korea's top food delivery service app resigns

SEOUL, July 2 (AJU PRESS) - Lee Kuk-hwan, CEO of Woowa Brothers, the operator of Korea's top food delivery service app Baedal Minjok (Baemin), resigned on Tuesday for “personal reasons.” Woowa Brothers, owned by Germany’s Delivery Hero, appointed Pieter-Jan Vandepitte as interim CEO through a board meeting on the same day. The Belgian director will serve in this role until the new CEO is officially appointed, possibly next month. Industry sources said there

July 2, 2024

Vietnamese PM discusses enhanced cooperation during meetings with Samsung, Hyundai chiefs

SEOUL, July 2 (AJU PRESS) - Vietnamese Prime Minister Pham Minh Chinh has met with the heads of major Korean business groups to discuss expanded investment and cooperation. Chinh arrived in Seoul on Sunday for a four-day visit aimed at strengthening economic cooperation between the two countries. The premier met with Samsung Electronics Chairman Lee Jae-yong in Seoul on Tuesday and Hyundai Motor Group Chairman Chung Eui-sun on Monday. During the meeting, Lee emphasized the imp

July 2, 2024

Samsung Electronics union threatens three-day strike next week

SEOUL, July 2 (AJU PRESS) - Samsung Electronics' largest labor union has threatened to go on a three-day full-fledged strike next week, demanding higher wages for some workers. The National Samsung Electronics Labor Union (NSELU), representing about 22 percent of Samsung's 125,000 employees, declared the strike on Monday evening following failed negotiations with management. The union will walk out from Monday to Wednesday, demanding higher wage increases for 855 members

July 2, 2024

McDonald's installs voice guidance kiosks for visually impaired

SEOUL, July 02 (AJU PRESS) - McDonald's Korea said Tuesday it has installed kiosks with voice guidance functions at all stores nationwide to assist visually impaired customers. "Visually impaired customers can now access product information and freely order their menu items through voice guidance at any McDonald's store across the country," the company said in a press release. The kiosks can be connected to earphones, allowing visitors to easily select their foo

July 2, 2024

LG Energy Solution secures first major LFP battery order from Renault

SEOUL, July 2 (AJU PRESS) - LG Energy Solution has signed a large-scale supply contract for electric vehicle LFP (lithium iron phosphate) batteries with Renault's electric vehicle division, Ampere, the Korean battery maker said Tuesday. Under the agreement, signed at Renault's headquarters in Paris on Monday (local time), LG will supply about 39GWh of battery cells, enough to power 590,000 electric vehicles, for five years from late 2025 to 2030. LG became the first Korea

July 2, 2024

Japanese operator of Line denies imminent Naver stake sale amid regulatory pressure

SEOUL, July 2 (AJU PRESS) – The operator of Japan's popular chat app, Line, has ruled out the possibility of Naver, Korea’s largest internet company, selling down its stake in the company anytime soon, as ordered by the Japanese regulators, industry sources said. Line Yahoo Corp. (LYC) on Monday submitted a report to the Japanese Ministry of Internal Affairs and Communications regarding its administrative guidance that directed Line operator’s parent company, A

July 2, 2024

Recycling specialist Dowon partners with Vietnamese logistics giant to set up joint venture

SEOUL, July 01 (AJU PRESS) - Korean recycling specialist Dowon has forged a partnership with Vietnamese logistics giant Phu Thai on Monday to set up a joint venture in Viet Nam. The signing ceremony took place at a hotel in central Seoul with representatives from the two companies. Phu Thai officials also accompanied the Vietnamese Prime Minister Pham Minh Chinh who arrived in Seoul over the weekend for his four-day visit to Korea. According to Dowon, the new joint venture will

July 1, 2024

[INTERVIEW] ReLU Games looks to transform gaming industry with AI technology

SEOUL, July 01 (AJU PRESS) - Set in a near-future world where robots and humans coexist, "Uncover the Smoking Gun," a new AI-based detective game, allows players to interrogate robot suspects to unravel murder cases. Leveraging advanced natural language processing technology, the game allows users to freely ask questions in eight different languages and engage with an AI-based chatbot in real-time. This feature offers an immersive gaming experience that its developers clai

July 1, 2024

SK Group eyes massive investment in AI, semiconductors

SEOUL, July 1 (AJU PRESS) - SK Group aims to secure 80 trillion won ($57.9 billion) by 2026 to invest in artificial intelligence, advanced chips and other new growth sectors, Korea's second-largest conglomerate said. The plan was unveiled during a group-wide management meeting on growth strategies and subsidiary restructuring held on Friday and Saturday. About 30 top-level executives, including CEOs from major subsidiaries, attended the meeting at the SKMS Research Institute in

July 1, 2024