Business
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LG Electronics Q3 profit falls despite record sales
SEOUL, October 24 (AJP) - SEOUL, October 24 (AJP) - LG Electronics reported record third-quarter sales of 22.18 trillion won (US$16.4 billion) on Thursday, but operating profit fell 20.9 percent from a year earlier to 751.9 billion won as higher logistics costs and LCD panel prices squeezed margins. The South Korean tech giant's key home appliance division posted an operating profit of 527.2 billion won on sales of 8.34 trillion won, while its entertainment unit, which includes
October 24, 2024 -
LG CNS introduces ERP testing solution to Japan
SEOUL, October 24 (AJP) - Korea's IT solutions provider LG CNS introduced its automated testing solution, PerfecTwin ERP (enterprise resource planning) Edition, in Japan. The company said Thursday it showcased the solution at Japan IT Week Autumn, the country's largest IT exhibition, held in Chiba from Wednesday to Friday. The solution, specifically designed for German software firm SAP SE's SAP ERP systems, utilizes actual transaction data rather than sampling to ver
October 24, 2024 -
SK hynix posts record quarterly earnings on AI chip boom
SEOUL, October 24 (AJP) - South Korean chipmaker SK hynix on Thursday reported its highest-ever quarterly sales and profits, driven by surging demand for artificial intelligence memory chips. The world's second-largest memory chip manufacturer said in a regulatory filing it posted 17.57 trillion won ($13 billion) in revenue for the third quarter, up 93.8 percent from a year earlier. Operating profit was 7.03 trillion won ($5.2 billion), swinging from an operating loss of 1.79
October 24, 2024 -
Korea's economy edges up 0.1% in third quarter
SEOUL, October 24 (AJP) - South Korea's economy grew by just 0.1 percent in the third quarter, the Bank of Korea said Thursday, falling well short of the central bank's August forecast of 0.5 percent. Korea's real gross domestic product (GDP) regained growth momentum in the July-September period after a 0.2 percent contraction in the second quarter, which followed unexpected growth of 1.3 percent in the first quarter. Exports fell 0.4 percent in the third quarter, dra
October 24, 2024 -
SK bioscience's influenza vaccine approved in Indonesia
SEOUL, October 23 (AJP) - SK bioscience, which has developed South Korea's first domestically produced COVID-19 vaccine, said Wednesday its influenza vaccine received approval from Indonesia's Food and Drug Agency. The vaccine, Skycellflu Quadrivalent Prefilled Syringe, is the first Korean vaccine to be approved in the world's fourth most populous country. The World Health Organization predicts the circulating strains of influenza for both the Northern and Southern He
October 23, 2024 -
LG Electronics unveils software kit for AI home robot at global conference
SEOUL, October 23 (AJP) - LG Electronics said Wednesday it released a software development kit (SDK) for its mobile AI home hub robot "Q9" at ROSCon 2024, the world's largest robotics conference in Denmark this week. The SDK allows developers to create custom applications for the robot, which was first introduced at CES earlier this year. The Q9, equipped with multimodal sensing capabilities including voice, sound, and image recognition, can move around spaces on wh
October 23, 2024 -
CJ Olive Young expands rapidly growing live-streaming commerce
SEOUL, October 23 (AJP) - CJ Olive Young, a South Korean health and beauty retailer, is expanding its mobile live-streaming commerce business by opening a dedicated studio and offering production support for partner brands. The company said Wednesday Olive Live, its streaming platform launched in October 2019, has seen viewer numbers jump 142 percent and order value rise 33 percent in the first half of 2024 compared to the previous year. Popular programs include "Beauty Expe
October 23, 2024 -
Korea to raise industrial power rates by 9.7%
SEOUL, October 23 (AJP) - South Korea will raise electricity rates for industrial users by 9.7 percent on average while freezing household and commercial rates, the government said Wednesday. Starting Thursday, power costs will increase by 10.2 percent for high-volume industrial users and 5.2 percent for smaller companies, according to the Ministry of Trade, Industry and Energy and Korea Electric Power Corp. “We raised industrial use rates, considering that large ex
October 23, 2024 -
Samsung SDI unveils next-generation mobility batteries at expo
SEOUL, October 23 (AJP) - SEOUL (AJP) — Samsung SDI showcased its lineup of mobility batteries at the Future Auto & Mobility Expo 2024 in the southeastern Korean city of Daegu, the company said Wednesday. The Korean battery maker displayed several next-generation products, including cathode-free solid-state batteries, which began sample deliveries to clients in late 2023, and 46-phi cylindrical batteries scheduled for micro-mobility production in early 2025. The company
October 23, 2024 -
Workers over 60 become largest employed age group in Korea for first time
SEOUL, October 22 (AJP) - Workers aged 60 and above surpassed those in their 50s last month, becoming South Korea's largest employed age group for the first time since relevant record-keeping began in 1982, data showed Tuesday. According to Statistics Korea and the Ministry of SMEs and Startups, the number of employed individuals aged 60 and over reached a record 6.75 million in September, compared to 6.72 million workers in their 50s. The 60-plus demographic now represents 2
October 22, 2024
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'Small gestures can make difference': Social entrepreneur helps isolated youth reconnect
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British Embassy in Seoul hosts investment blitz
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PHOTOS: World Gimbap Festival opens at Hangang Park
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South Korea grapples with rising number of discouraged youths
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OPINION: Anniversary year shows importance of NATO
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8,000 North Korean troops expected in combat 'in coming days,' UN envoy says
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Gang Dong-won embraces maturity after action-packed Netflix film
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South Korea condemns North Korea's ICBM test as violation of UN sanctions
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Flamboyant influencers mingle at Halloween party in Seoul
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PHOTOS: AI Content Festival opens at COEX in Seoul