Business
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Hyundai Mobis to make debut at Paris Motor Show
SEOUL, October 9 (AJP) - Korean auto parts maker Hyundai Mobis Co. said Wednesday that it will participate in the Paris Motor Show for the first time, aiming to accelerate its expansion into the European market. The company, affiliated with Hyundai Motor Group, plans to showcase 10 strategic technologies during the Oct. 14-18 event, including next-generation electric vehicle (EV) drive systems and battery system assemblies (BSA). Hyundai Mobis said it will operate a booth for pre
October 9, 2024 -
Saudi prince visits Naver's futuristic office to explore advanced technologies
SEOUL, October 9 (AJP) - Saudi Prince Faisal bin Abdulaziz bin Ayyaf on Tuesday visited Naver 1784, a futuristic office featuring various advanced technologies owned by Naver, the largest web portal in Korea. The Saudi prince, serving as the mayor of Riyadh Region, explored innovative technologies, including digital twin solutions and a dual-arm robot. Naver plans to establish its digital twin platform for five Saudi cities, laying the foundation for developing essential service
October 9, 2024 -
LG Electronics estimates 20% decline in operating profit
SEOUL, October 8 (AJP) – LG Electronics estimated on Tuesday that its third-quarter operating profit dropped 20.9 percent year-on-year to 751.1 billion won ($556 million), largely due to soaring shipping costs and increased marketing expenses. In its preliminary financial results for the third quarter of 2024, LG reported that sales are expected to reach a record high of 22.18 trillion won, a 10.7 percent increase from the previous year, according to a regulatory filing. Th
October 8, 2024 -
Financial watchdog probes 'overheated' battle for control of Korea Zinc
SEOUL, October 08 (AJP) – Korea's financial watchdog launched an investigation on Tuesday into possible unfair trading practices related to the ongoing battle for control of Korea Zinc. Lee Bok-hyun, chief of the Financial Supervisory Service (FSS), ordered a probe into the "overheated" tender offers for the world's largest zinc smelter. "If any unfair trading, such as rumor-spreading, aimed at disrupting the tender offers is discovered, strict measur
October 8, 2024 -
Samsung Electronics estimates lower-than-expected Q3 earnings
SEOUL, October 8 (AJP) - Samsung Electronics Co. said Tuesday that its third-quarter operating profit likely surged 274.5 percent year-on-year to 9.1 trillion won (US$6.7 billion), which fell short of market expectations and prompted the head of its chip business to issue a rare apology for the poor performance. In a regulatory filing, the tech giant estimated its July-September revenue reached a record high of 79 trillion won, up 17.21 percent from a year earlier, surpassing the pr
October 8, 2024 -
Game developers to showcase new titles at G-Star 2024
SEOUL, October 08 (AJP) - Korea's largest gaming exhibition, G-Star 2024, is set to showcase a range of new titles when it opens on Nov. 14 in Busan. The four-day event, sponsored by leading game developer Nexon for the first time in seven years, is expected to feature a record-breaking 3,281 booths, including 2,364 in the business-to-consumer (B2C) area and 917 in the business-to-business (B2B) section. Several major gaming companies have confirmed their participation, inclu
October 8, 2024 -
SK Bioscience to acquire stake in U.S. biotech firm
SEOUL, October 8 (AJP) - SK Bioscience, developer of Korea's first domestically produced COVID-19 vaccine, said Tuesday it will invest $3 million to acquire a stake in U.S.-based Fina Biosolutions. Fina Biosolutions possesses key technologies for conjugate vaccines that prevent diseases such as pneumococcal, meningococcal and typhoid fever. The company holds proprietary technology for manufacturing the CRM197 protein carrier, crucial in developing conjugate vaccines. SK Biosc
October 8, 2024 -
Toy market for adults surges as 'kidults' seek childhood nostalgia
SEOUL, October 7 (AJP) - Kim Geun-tae, a 27-year-old chip industry employee, recently found himself drawn to Loopy, a pink beaver character from the children's TV series “Pororo.” "I was so captivated by Loopy's expressive emojis on KakaoTalk that I ended up purchasing every series available," Kim said. Upon learning of a Loopy-themed pop-up store in Seoul, he made the hours-long trip from his home in Daejeon, just to buy a plushie and a figurine of
October 7, 2024 -
South Korea lags behind global competition in semiconductor, battery subsidies
SEOUL, October 07 (AJP) - Korea is falling behind in providing subsidies for semiconductor and battery industries compared to its global competitors, according to a report released on Monday by the Federation of Korean Industries (FKI). The United States, China and Japan are investing billions of dollars in these sectors, while Korea has yet to offer any subsidies in the sectors, the group representing large companies said. For example, China aims to increase its chip self-suffic
October 7, 2024 -
Samsung envisions AI integration across product lines
SEOUL, October 4 (AJP) – Samsung Electronics unveiled its vision for applying artificial intelligence across all product lines during its annual developers’ forum in the United States on Thursday. The 10th Samsung Developer Conference (SDC) attracted around 3,000 developers, partners and media representatives in San Jose, California, under the theme, “AI for All – A Decade of Open Innovation and Beyond.” The Korean tech giant announced plans to unify
October 4, 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