BBQ Chicken brings Oktoberfest to Seoul

SEOUL, October 11 (AJP) – Genesis BBQ, a major Korean chicken franchise, is hosting its version of Oktoberfest at its Seoul branch, offering the flavors and fun of the famous German beer festival. The BBQ Oktoberfest is currently underway at the BBQ Village restaurant in Songnidan-gil, an emerging youth hotspot in southeastern Seoul, from Sept. 21 to Oct. 31. The event features a variety of traditional Oktoberfest dishes, including Brathendl (roast chicken), Bratwurst (Germ

October 11, 2024

LG Chem halts construction of carbon nanotube plant amid EV market slowdown

SEOUL, October 11 (AJP) – South Korean petrochemical giant LG Chem has temporarily suspended construction of its fourth carbon nanotube plant, industry sources said, amid a slowdown in the electric vehicle (EV) battery market. The facility in Daesan, South Chungcheong Province, was initially scheduled to begin operations in the first quarter of 2025 to supply carbon nanotubes to battery manufacturers, including LG Energy Solution. The plant would be the largest in South K

October 11, 2024

Korea cuts key rate for first time in three years

SEOUL, October 11 (AJP) – The Bank of Korea (BOK) cut its key interest rate on Friday for the first time in over three years, marking a shift in monetary policy aimed at boosting the sluggish economy amid easing inflation concerns. The central bank lowered its benchmark seven-day repurchase rate by 25 basis points to 3.25 percent, the first reduction since August 2021. This move ends a prolonged tightening cycle and signals a pivot toward supporting economic growth. The dec

October 11, 2024

South Korea cuts key rate for first time in three years

SEOUL, October 11 (AJP) - The Bank of Korea cut its key interest rate on Friday for the first time in over three years, marking a shift in monetary policy aimed at boosting a sluggish economy amid easing inflation concerns. The central bank lowered its benchmark seven-day repurchase rate by 25 basis points to 3.25 percent, the first reduction since August 2021. The move ends a prolonged tightening cycle and signals a pivot toward supporting economic growth.

October 11, 2024

LG Electronics aims to double B2B sales to 10 trillion won by 2030

SEOUL, October 10 (AJP) - LG Electronics said on Thursday that it aims to double the sales of its Business Solutions (BS) division to 10 trillion won ($7.4 billion) by 2030. Jang Ik-hwan, head of the BS division, said that the company will expand its presence in the new-growth markets, including commercial displays, electric vehicle chargers and medical monitors, to achieve the goal. “Over the past 66 years, LG has accumulated valuable insights into its customers and the di

October 10, 2024

Hyundai E&C signs deal with Singaporean consulting firm to collaborate on new energy sectors

SEOUL, October 10 (AJP) - Hyundai Engineering and Construction has signed a memorandum of understanding (MOU) with Surbana Jurong, Singapore's major infrastructure and urban development consulting firm, to collaborate in the new energy and carbon mitigation sectors, the Korean construction firm announced Thursday. The agreement, signed on Tuesday, calls for technology exchanges and cooperation in infrastructure development across areas such as next-generation power generation pr

October 10, 2024

Samsung's brand value surpasses $100 billion, ranks 5th globally: Interbrand

SEOUL, October 10 (AJP) - Samsung Electronics has achieved a brand value of $100.8 billion this year, marking a 10 percent increase from last year, according to Interbrand's "Best Global Brands" report released Wednesday. This milestone places the company in the fifth position globally for the fifth consecutive year, making it the only Asian brand in the top five. Interbrand's evaluation, which considers financial performance, brand influence on purchasing deci

October 10, 2024

Mercedes-Benz faces lawsuit in Korea over electric vehicle fire

SEOUL, October 10 (AJP) – A group of 24 people, including owners of Mercedes-Benz electric vehicles (EVs), on Thursday filed a damages suit against the German luxury automaker and its local sellers in connection with a massive fire involving a Mercedes-Benz EV in August. A Mercedes-Benz EQE sedan exploded in the underground parking garage of an apartment complex in Incheon, west of Seoul, on Aug. 1, sparking a fire that injured about 20 people and damaged hundreds of other car

October 10, 2024

Samsung falls to third in Forbes' world's best employers ranking

SEOUL, October 10 (AJP) - Samsung Electronics has dropped from its four-year reign as the top company in Forbes' "World's Best Employers" list, now ranking third behind Microsoft and Alphabet. Forbes on Thursday announced the result of its survey of over 300,000 employees from 50 countries to evaluate 850 multinational companies. The assessment criteria included willingness to recommend the employer, along with factors such as salary, talent development and re

October 10, 2024

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