Business
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Korea achieves $1 trillion in cumulative overseas construction contracts
SEOUL, January 10 (AJP) - South Korea has achieved a historic milestone in the global construction industry, with its companies securing a cumulative $1 trillion in overseas construction contracts. According to the Ministry of Land, Infrastructure, and Transport, Friday, South Korean firms won $37.11 billion in international contracts in 2024, pushing the total to $1.009 trillion since the country first ventured into overseas construction nearly six decades ago with Hyundai Engine
January 10, 2025 -
[CES 2025] Silicon Valley, Korean startups connect at Las Vegas networking event
LAS VEGAS, January 7 (AJP) - Over 50 startup representatives from Silicon Valley and Korea gathered at a grand Las Vegas mansion on Jan. 7, exchanging ideas and forging connections at the "Silicon Valley Leaders Networking Event." Hosted by the Innobiz Association under the South Korean Ministry of SMEs and Startups, the event provided a platform for Korean innovators to connect with Silicon Valley leaders and explore global market expansion opportunities. "CES i
January 9, 2025 -
[CES 2025] Soosan Group eyes AI integration for global growth
LAS VEGAS, January 9 (AJP) - Chung Suk-hyun, chairman of Soosan Group, a South Korean nuclear power equipment manufacturer, has vowed to strengthen the company's global market presence through the adoption of artificial intelligence (AI) and innovative approaches. Speaking to Aju Business Daily at the CES 2025 in Las Vegas, Chung, a recipient of the inaugural Aju Innovation Leader Grand Awards, emphasized the need for pioneering technologies to compete on the global stage. &q
January 9, 2025 -
Korean food firms see surge in revenue thanks to strong overseas sales
SEOUL, January 9 (AJP) - More than 10 South Korean food manufacturers surpassed 3 trillion won ($2.05 billion) in annual revenue in 2024, driven by strong overseas demand for Korean beverages, snacks, and tofu products. According to data from financial analysis firm FnGuide released Thursday, Lotte Chilsung Beverage is projected to lead the pack with 4.07 trillion won in revenue, a 26.4 percent increase from the previous year. Other major players exceeding 4 trillion won include CJ
January 9, 2025 -
[CES 2025] SK hynix's memory development outpacing Nvidia's demands, Chey says
LAS VEGAS, January 8 (AJP) - SK hynix's development of high-bandwidth memory (HBM) chips is now advancing faster than Nvidia's requirements, SK Group Chairman Chey Tae-won said. He made the remark on Wednesday after meeting with Nvidia CEO Jensen Huang during CES in Las Vegas. "Previously, SK hynix's development pace lagged slightly behind Nvidia's, and they were asking us to speed up our development. But recently, it could be said that our development spee
January 9, 2025 -
South Korea, Pakistan begin economic partnership talks
SEOUL, January 9 (AJP) - South Korea and Pakistan officially launched negotiations for an Economic Partnership Agreement (EPA) on Thursday, marking a significant step in Seoul's efforts to expand its trade footprint in Southwest Asia. The EPA, a broader agreement than a traditional free trade deal, aims to deepen economic ties between the two nations. Pakistan, with its strategic location bordering China and India, is seen as a crucial market in the evolving Asian economic lands
January 9, 2025 -
Toyota Motor charts bold path toward sustainability amid fierce competition
Editor's Note: This article is the second installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, January 7 (AJP) - Japan's Toyota Motor Corp., the world’s largest automaker, is doubling down on its commitment to sustainable mobility as it faces mounting pressure from rivals and rapid shifts in the global auto industry. The Japanese automotive gian
January 9, 2025 -
[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
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HYBE founder Bang Si-hyuk grilled by regulators over alleged IPO fraud
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Aespa to drop collaboration song with PUBG: Battlegrounds
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French AI firm Dataiku courts Korean enterprises
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Korean power equipment makers expand in Europe
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LG Electronics sharpens focus on AI, robotics under CEO William Cho
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Republicans press Trump administration to challenge Korea's online platform regulation
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Coupang enters cloud services market with AI-focused platform
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Korea seeks to address China's export controls on key materials
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PHOTOS: Lee's first press conference as president
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President Lee Jae-myung says cutting off dialogue with N. Korea is 'truly foolish'