[CES 2025] South Korean business leaders explore AI innovation, global partnership

LAS VEGAS, January 7 (AJP) - South Korean business leaders converged at CES 2025 on Tuesday to explore cutting-edge AI technologies and strengthen partnerships with global tech giants. SK Group Chairman Chey Tae-won, Lotte Corp. Vice President Shin Yoo-yeol, SK Telecom CEO Yoo Young-sang and LG Innotek CEO Moon Hyuk-soo are attending the world's largest electronics show in Las Vegas from Tuesday to Friday. Chey is expected to meet Nvidia CEO Jensen Huang on Wednesday to discu

January 8, 2025

[CES 2025] Samkoo INC chairman emphasizes people-centric corporate culture

LAS VEGAS, January 7 (AJP) - Koo Ja-kwan, chairman of the Korean consignment management company Samkoo INC, underscored the importance of a people-centric corporate culture in driving innovation during an interview with Aju Business Daily at CES 2025. Koo, who received the first Aju Innovation Leader Grand Award on Tuesday, attributed the recognition to the company's sustainable management practices and its innovative endeavors. "Creating an environment where employees c

January 8, 2025

Genesis defies market slump with strong sales growth

SEOUL, January 8 (AJP) - Genesis, the luxury arm of Hyundai Motor Group, bucked a broader market downturn with robust sales growth in both its domestic and U.S. markets in 2024. The company sold 130,674 vehicles in South Korea, a 3.2 percent increase from 2023, according to data released by Hyundai Motor Group on Tuesday. This marks the second-best annual performance for Genesis, trailing only the record 138,757 units sold in 2021. This performance stands in stark contrast to Hyu

January 8, 2025

[CES 2025] Nvidia's Jensen Huang urges Samsung to redesign HBM chips at CES 2025

LAS VEGAS, January 7 (AJP) - Nvidia CEO Jensen Huang has called on Samsung Electronics to redesign its HBM (High Bandwidth Memory) chips during a press conference in Las Vegas, coinciding with CES 2025. While SK hynix supplies HBM to Nvidia, Samsung is undergoing tests to secure its supplier position. "has to engineer a new design, but they can do it, and they are working very fast," Huang said on Tuesday. "Samsung actually created the first HBM that Nv

January 8, 2025

Hyundai Motor Group considers constructing steel plant in US

SEOUL, January 8 (AJP) - Hyundai Motor Group is considering building its first overseas steel mill in the United States, as the company seeks to navigate potential trade barriers under the incoming Donald Trump administration, according to industry sources on Wednesday. The South Korean conglomerate is examining several locations, including Georgia, where it currently operates automotive manufacturing facilities, for the construction of a steel plant through its subsidiary, Hyundai

January 8, 2025

Samsung Electronics reports disappointing fourth-quarter earnings amid tech slowdown

SEOUL, January 08 (AJP) - Samsung Electronics reported an operating profit of 6.5 trillion won ($5.4 billion) for the fourth quarter of 2024, falling significantly short of market expectations despite a year-over-year increase of 130.5 percent. The earnings, disclosed in a preliminary report on Wednesday, marked a 29.2 percent decline from the previous quarter’s 9.2 trillion won profit and fell 15.7 percent below the market consensus of 7.7 trillion won. Analysts had init

January 8, 2025

[CES 2025] Forum links Korean startups with Silicon Valley experts

LAS VEGAS, January 7 (AJP) - A landmark forum spotlighting the global expansion of Korean startups convened alongside CES 2025, drawing over 100 technology and business leaders from South Korea and Silicon Valley. The inaugural Global International Growth Summit (GIGS), hosted by AJP and backed by South Korea's Ministry of SMEs and Startups served as a platform for discussing innovation, collaboration, and strategies to navigate global markets. "AI and machine learning

January 7, 2025

[CES 2025] Samsung unveils bold vision for AI-driven smart homes

LAS VEGAS, January 6 (AJP) - Samsung Electronics revealed an ambitious blueprint for the future of smart homes, showcasing its commitment to simplifying daily life through advanced artificial intelligence and seamlessly connected devices. During a high-profile press conference, Han Jong-hee, Samsung’s vice chairman and head of the Device eXperience (DX) division, introduced the company’s “Home AI” vision. The initiative leverages AI technology to learn hous

January 7, 2025

As Trump's tariff threats loom, Korea's trade dependency on US draws scrutiny

SEOUL, January 07 (AJP) - As the world braces for Trump’s proposed tariff policies, South Korea’s deepening reliance on trade with the United States is raising concerns. The trend runs counter to a global push to diversify trade relationships, reflecting a divergence that could leave Seoul vulnerable to shifting U.S. policies. Economic observers predict that global trade dynamics in the coming year will hinge on Trump’s policies. In a recent column for the

January 7, 2025

Korea's U.S. crude oil imports rise steadily despite premium pricing

SEOUL, January 7 (AJP) - South Korea's crude oil imports from the United States reached a record high in 2024, despite higher prices compared to Middle Eastern sources. According to data from the Korea National Oil Corp. on Monday, U.S. crude imports from January to November 2024 totaled 156.29 million barrels, surpassing the previous year's record of 142.37 million barrels. The import value amounted to $13.33 billion, positioning the United States as the second-largest c

January 7, 2025