Musinsa partners with government agency to boost K-fashion exports

SEOUL, July 31 (AJP) - Korean fashion platform Musinsa signed a memorandum of understanding with the Seoul Regional Small and Medium Business Administration on Wednesday to support Seoul-based fashion brands' overseas expansion. The partnership aims to enhance export activities and provide practical support for small and medium-sized fashion companies seeking global market entry. Under the agreement, Musinsa will leverage its platform operations experience and global network t

July 31, 2025

[K-Tech] LG AI model EXAONE 4.0 ranks 11th globally in intelligence index

SEOUL, July 31 (AJP) - LG AI Research's artificial intelligence model EXAONE 4.0 secured 11th place globally in the Intelligence Index evaluation by AI performance analysis firm Artificial Analysis, according to results announced Wednesday. The model ranked first among Korean AI models and fourth among publicly available open-weight models. The ranking was based on seven high-difficulty performance metrics including reasoning and knowledge capabilities, expert-level scientific

July 31, 2025

S.Korean agro-livestock industry takes breather as nation strikes trade deal with U.S.

SEOUL, July 31 (AJP) - South Koreas agricultural and livestock sectors expressed relief on Thursday after the government said it had successfully defended the country's beef and rice markets during trade negotiations with the United States, despite facing intense pressure to open these sectors further. Kim Yong-beom, policy chief of the presidential office, told reporters that South Korea had faced "strong opening demands" from the U.S. regarding agricultural products

July 31, 2025

Samsung Electronics posts 4.7 trillion won operating profit in second quarter

SEOUL, July 31 (AJP) - Samsung Electronics reported final second-quarter operating profit of 4.7 trillion won on Thursday, slightly above preliminary guidance as the world's largest memory chipmaker navigated persistent industry challenges and China sanctions. Revenue reached 74.6 trillion won, up marginally from the 74 trillion won preliminary estimate released earlier this month. The final results confirmed a 55.2 percent decline in operating profit from the same period last

July 31, 2025

[K-Tech] S. Korea pushes AI adoption in manufacturing with new funding program

SEOUL, July 31 (AJP) - South Korea's Ministry of Trade, Industry and Energy announced Wednesday it will launch a new initiative to promote AI adoption in the manufacturing sector, with applications for implementing agencies opening July 31. The project is part of the second supplementary budget for 2025. The program is designed to help manufacturers integrate and validate AI solutions on-site, speeding up digital transformation across the industry while also strengthening the ca

July 31, 2025

[K-Tech] LG CNS becomes first Korean firm to secure AI certifications from three major cloud providers

SEOUL, July 31 (AJP) - LG CNS, the solution-developing wing of LG Group, said Thursday it has obtained Microsoft's "Build AI Apps on Microsoft Azure Specialization" certification, making it the first Korean company to hold generative artificial intelligence certifications from all three major global cloud service providers. The South Korean IT services company now holds AI specialist certifications from Microsoft, Amazon Web Services (AWS) and Google Cloud, the company

July 31, 2025

South Korea strikes favorable tariff deal with US, presidential office says

SEOUL, July 31 (AJP) - South Korea's presidential office said Thursday it secured a more favorable agreement than Japan in tariff negotiations with the United States, successfully limiting concessions while protecting key domestic markets. The announcement came after President Lee Jae-myung and US President Donald Trump revealed on social media that bilateral tariff talks had concluded with mutual 15 percent rates. The U.S. had initially planned to impose 25 percent reciproca

July 31, 2025

Health minister calls for tighter grip on e-cigarettes amid regulatory gaps

SEOUL, July 31 (AJP) - Health Minister Jeong Eun-kyeong called for stricter oversight of liquid electronic cigarettes Thursday, arguing they should face the same regulatory framework as conventional tobacco products to close existing legal loopholes. Speaking to the National Assembly in written responses following her confirmation hearing, Jeong said synthetic nicotine-based liquid e-cigarettes pose health risks equivalent to traditional cigarettes and warrant identical regulatory t

July 31, 2025

[K-Tech] LG Energy Solution secures 5.94 trillion won LFP battery deal with Tesla

SEOUL, July 31 (AJP) - LG Energy Solution announced Wednesday it has signed a 5.9442 trillion won (about $4.25 billion) supply contract for lithium iron phosphate (LFP) batteries, marking the company’s largest-ever energy storage system (ESS) order to date. The order represents 23.2 percent of LG Energy Solution’s 2023 revenue of 25.6 trillion won. The initial contract term spans three years starting August 1, with the possibility of extension to seven years based on cus

July 31, 2025

S. Korea, US agree to lower tariffs to 15 percent after investment and energy deal

SEOUL, July 31 (AJP) - South Korea and the United States have reached a comprehensive trade agreement that will lower mutual tariffs from 25 percent to 15 percent. The deal follows South Korea's pledge to invest $350 billion in the U.S. and purchase $100 billion worth of American energy products. The announcement was made on Jul. 30 (local time) by U.S. President Donald Trump. He met with the South Korean trade delegation at the White House before posting the details on his so

July 31, 2025