Business
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Swedish minister observes Hyodol's AI-based elderly care robot
SEOUL, October 14 (AJP) – Sweden's Minister for Older People and Social Security Anna Tenje recently visited a community welfare center in Seoul to observe an artificial intelligence-based care robot developed by Hyodol. Her visit aimed to understand Korea's approach to AI technology in elderly care as the country prepares for an aging society, the company said. During the event at the Gungdong Community Welfare Center on Sept. 30, Hyodol's CEO, Kim Ji-hee, expl
October 14, 2024 -
BBQ Chicken brings Oktoberfest to Seoul
SEOUL, October 11 (AJP) – Genesis BBQ, a major Korean chicken franchise, is hosting its version of Oktoberfest at its Seoul branch, offering the flavors and fun of the famous German beer festival. The BBQ Oktoberfest is currently underway at the BBQ Village restaurant in Songnidan-gil, an emerging youth hotspot in southeastern Seoul, from Sept. 21 to Oct. 31. The event features a variety of traditional Oktoberfest dishes, including Brathendl (roast chicken), Bratwurst (Germ
October 11, 2024 -
LG Chem halts construction of carbon nanotube plant amid EV market slowdown
SEOUL, October 11 (AJP) – South Korean petrochemical giant LG Chem has temporarily suspended construction of its fourth carbon nanotube plant, industry sources said, amid a slowdown in the electric vehicle (EV) battery market. The facility in Daesan, South Chungcheong Province, was initially scheduled to begin operations in the first quarter of 2025 to supply carbon nanotubes to battery manufacturers, including LG Energy Solution. The plant would be the largest in South K
October 11, 2024 -
Korea cuts key rate for first time in three years
SEOUL, October 11 (AJP) – The Bank of Korea (BOK) cut its key interest rate on Friday for the first time in over three years, marking a shift in monetary policy aimed at boosting the sluggish economy amid easing inflation concerns. The central bank lowered its benchmark seven-day repurchase rate by 25 basis points to 3.25 percent, the first reduction since August 2021. This move ends a prolonged tightening cycle and signals a pivot toward supporting economic growth. The dec
October 11, 2024 -
South Korea cuts key rate for first time in three years
SEOUL, October 11 (AJP) - The Bank of Korea cut its key interest rate on Friday for the first time in over three years, marking a shift in monetary policy aimed at boosting a sluggish economy amid easing inflation concerns. The central bank lowered its benchmark seven-day repurchase rate by 25 basis points to 3.25 percent, the first reduction since August 2021. The move ends a prolonged tightening cycle and signals a pivot toward supporting economic growth.
October 11, 2024 -
LG Electronics aims to double B2B sales to 10 trillion won by 2030
SEOUL, October 10 (AJP) - LG Electronics said on Thursday that it aims to double the sales of its Business Solutions (BS) division to 10 trillion won ($7.4 billion) by 2030. Jang Ik-hwan, head of the BS division, said that the company will expand its presence in the new-growth markets, including commercial displays, electric vehicle chargers and medical monitors, to achieve the goal. “Over the past 66 years, LG has accumulated valuable insights into its customers and the di
October 10, 2024 -
Hyundai E&C signs deal with Singaporean consulting firm to collaborate on new energy sectors
SEOUL, October 10 (AJP) - Hyundai Engineering and Construction has signed a memorandum of understanding (MOU) with Surbana Jurong, Singapore's major infrastructure and urban development consulting firm, to collaborate in the new energy and carbon mitigation sectors, the Korean construction firm announced Thursday. The agreement, signed on Tuesday, calls for technology exchanges and cooperation in infrastructure development across areas such as next-generation power generation pr
October 10, 2024 -
Samsung's brand value surpasses $100 billion, ranks 5th globally: Interbrand
SEOUL, October 10 (AJP) - Samsung Electronics has achieved a brand value of $100.8 billion this year, marking a 10 percent increase from last year, according to Interbrand's "Best Global Brands" report released Wednesday. This milestone places the company in the fifth position globally for the fifth consecutive year, making it the only Asian brand in the top five. Interbrand's evaluation, which considers financial performance, brand influence on purchasing deci
October 10, 2024 -
Mercedes-Benz faces lawsuit in Korea over electric vehicle fire
SEOUL, October 10 (AJP) – A group of 24 people, including owners of Mercedes-Benz electric vehicles (EVs), on Thursday filed a damages suit against the German luxury automaker and its local sellers in connection with a massive fire involving a Mercedes-Benz EV in August. A Mercedes-Benz EQE sedan exploded in the underground parking garage of an apartment complex in Incheon, west of Seoul, on Aug. 1, sparking a fire that injured about 20 people and damaged hundreds of other car
October 10, 2024 -
Samsung falls to third in Forbes' world's best employers ranking
SEOUL, October 10 (AJP) - Samsung Electronics has dropped from its four-year reign as the top company in Forbes' "World's Best Employers" list, now ranking third behind Microsoft and Alphabet. Forbes on Thursday announced the result of its survey of over 300,000 employees from 50 countries to evaluate 850 multinational companies. The assessment criteria included willingness to recommend the employer, along with factors such as salary, talent development and re
October 10, 2024
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South Korea mulls sending inspectors to Ukraine to monitor North Korean troops in Russia
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U.S. stealth fighter completes maiden landing on Japanese vessel
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5.8 magnitude earthquake strikes Indonesia's Molucca Sea region
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North Korea dismisses allegations of troop deployment to Russia as 'groundless'
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Pulmuone showcases flagship plant-based food products at Paris show
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Viet Nam appoints military general Luong Cuong as new president
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Blinken begins 11th visit to Middle East for peace in Gaza and Lebanon
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IAEA confirms Japan's 10th Fukushima water release meets safety standards
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Poland expected to purchase Korean arms without financing support from Seoul
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Northern Gaza faces growing crisis amid Israel's military offensive