Korea, U.S., Japan vow to strengthen semiconductor, battery supply chains

SEOUL, June 27 (AJU PRESS) - South Korea, the United States and Japan agreed on Wednesday to enhance cooperation on semiconductor and battery supply chains during a trilateral meeting of top industrial officials in Washington, D.C. Korean Trade, Industry and Energy Minister Ahn Duk-geun, U.S. Commerce Secretary Gina Raimondo, and Japanese Economy, Trade and Industry Minister Ken Saito also pledged further collaboration among the three countries in critical minerals, export controls

June 27, 2024

Naver's Webtoon Entertainment sets IPO price at top of range ahead of New York market debut

SEOUL, June 27 (AJU PRESS) - Webtoon Entertainment, affiliated with Korea's leading internet portal Naver, has set its initial public offering price at $21 per share, the top end of its proposed range, signaling strong demand ahead of its debut on the Nasdaq on Thursday (local time). At the set price, the market capitalization of the digital comics platform could reach $2.67 billion. The Los Angeles, California-based firm is the parent company and North American opera

June 27, 2024

LG Electronics unveils self-learning AI CLOi robot

SEOUL, June 27 (AJU PRESS) - LG Electronics unveiled its CLOi robot powered by Google's Gemini artificial intelligence model at the Google Cloud Summit Seoul on Thursday. This marks the first integration of generative AI into the CLOi robot line. The upgraded CLOi features enhanced communication abilities, capable of generating responses to unexpected questions and performing tasks like creating background images via voice commands. LG plans to launch the AI-equipped CLOi Gu

June 27, 2024

Nexon to launch 'First Descendant' game next week

SEOUL, June 27 (AJU PRESS) - Korean game developer giant Nexon Games confirmed that it will release its new PC and console game "The First Descendant" next Tuesday. "Our project goal was to create a game that could succeed in the global market through live service," Lee Beom-jun, lead producer of the loot shooter game, said in a recent media event. He emphasized that the game was designed with "complete cross-platform functionality" in mind from the

June 27, 2024

Samsung Electro-Mechanics, LG Innotek target AI semiconductor substrate market

SEOUL, June 26 (AJU PRESS) - Samsung Electro-Mechanics and LG Innotek are ramping up their AI-based semiconductor substrates business amid the ongoing artificial intelligence boom. Semiconductor substrates are essential for mounting components on the mainboards of IT devices, facilitating smooth electrical connections, efficient power delivery, and effective heat dissipation for optimal performance and reliable data transfer. Samsung Electro-Mechanics said Wednesday that its Viet

June 26, 2024

Korean Air ranks 11th in global airline survey

SEOUL, June 26 (AJU PRESS) - Korean Air Lines secured the 11th position in the World's Top 100 Airlines ranking announced by Skytrax, a British airline consultancy and rating agency, on Monday (local time). Qatar Airways claimed the top spot in the annual survey, which combines both full-service and low-cost carriers. Korean Air ranked 22nd in 2021, 9th in 2022 and 10th in 2023. Asiana Airlines, another major Korean carrier, was placed 37th. Its ranking was 25th in 2021, 3

June 26, 2024

LTechUVC secures green ammonia supply deal in Thailand

SEOUL, June 26 (AJU PRESS) - Korea's LTechUVC has signed a supply deal with Thai energy company MA Corporation Oil Co. to supply 200,000 tons of green ammonia annually for 15 years. The green ammonia producer said the two entities held a signing ceremony in Bangkok on Tuesday (local time). A total of 3 million tons of green ammonia, valued at $2.25 billion, will be supplied to MA Corporation Oil over 15 years. MA Corporation Oil specializes in energy trading, supplying oil an

June 26, 2024

Samsung's Bespoke refrigerator sells 300 million units since 2019 launch

SEOUL, June 26 (AJU PRESS) - Samsung Electronics' Bespoke refrigerator has sold 300 million units in South Korea since its 2019 launch, the company said Wednesday. The Bespoke line revolutionized the appliance market by offering customizable product types, materials, and colors. In 2021, it expanded to 360 prismatic color options and introduced a lifetime warranty on its digital inverter compressor. 2022 saw the launch of the Bespoke Infinite Line, focusing on durability and

June 26, 2024

SK On inks lithium supply deal with ExxonMobil

SEOUL, June 26 (AJU PRESS) - Korean battery maker SK On has signed a memorandum of understanding with ExxonMobil to secure up to 100,000 tons of lithium from the U.S. oil giant's Arkansas brine field, the company said on Wednesday. The agreement, inked at in Fastmarkets LRBM Conference 2024, the world's largest lithium and battery raw materials conference in Las Vegas on June 24, aims to bolster SK On's supply chain of U.S.-sourced lithium, a critical component in electr

June 26, 2024

Government, KRX to facilitate new carbon credit trading system

SEOUL, June 25 (AJU PRESS) – The Ministry of Environment said Tuesday it will sign an agreement with the Korea Exchange (KRX) and other institutions for cooperation in launching a new carbon credit trading system next year. The government plans to allow brokerages to trade carbon emissions permits starting in the first half of next year, in a move to make it more accessible and convenient for businesses. The ministry will sign a memorandum of understanding with KRX, the Gre

June 25, 2024