LG Electronics partners with Saudi institutions for extreme heat HVAC research SEOUL, July 07 (AJP) - LG Electronics has entered into a joint research partnership with King Saud University, Pusan National University in South Korea, and Saudi-based distributor Shaker Group to develop HVAC technologies designed to withstand extreme heat in desert and tropical environments. The agreement, signed on July 3, will focus on testing LG’s residential and commercial air conditioning units in actual Saudi climate conditions. Researchers will collect data to enhance product performance, particularly evaluating the energy-saving functions of LG’s AI Engine. This technology, embedded in LG’s ‘Multi V i’ system, adjusts cooling output based on indoor and outdoor temperatures and reduces energy use when no one is in the room. LG has previously set up research consortiums in cold-weather regions such as Alaska, Oslo, and Harbin, China. It also operates five dedicated air solution R&D centers across South Korea, North America, Europe, and India. To support installation and maintenance in local markets, the company runs HVAC academies in 65 locations across 43 countries, training around 30,000 engineers each year. "LG Electronics' HVAC technology is being pursued and is expected to expand to other high-temperature regions such as Southeast Asia and Africa, in addition to Saudi Arabia, because air conditioning is essential in these areas," an LG Electronics official told AJP. LG says the new partnership marks another step in strengthening its ability to tailor HVAC systems to specific regional climates. 2025-07-07 15:53:35

LG Electronics reports 46.6 percent drop in Q2 operating profit amid tariff pressures SEOUL, July 07 (AJP) - LG Electronics reported a 46.6 percent decline in second-quarter operating profit to 639.1 billion won ($491 million) as the South Korean appliance maker faced headwinds from the United States tariffs and weakened demand for televisions and IT products. Revenue fell 4.4 percent year-on-year to 20.74 trillion won in the April-June period, the company said in a preliminary earnings statement on Monday. The results reflect challenging operating conditions, including tariff burdens from US trade policies and increased logistics costs that weighed on profitability across multiple business segments. LG's home appliance division and business-to-business operations, including automotive components and air conditioning systems, maintained relatively stable performance despite the difficult environment. However, the company's media and entertainment unit, which includes TV and IT products, struggled with demand contraction and rising LCD panel prices that pressured margins. The electronics giant said it expects logistics cost burdens to ease in the second half compared to the same period last year. LG plans to focus on what it calls "qualitative growth" areas, including B2B operations, subscription services, webOS platform development, and direct-to-consumer sales through its LGE.com platform to maintain business fundamentals. LG's automotive components business continued to grow based on a stable order backlog, with operating profit increasing year-on-year through improved operational efficiency. The company also plans to accelerate its push into AI data center cooling solutions and European air-to-water heat pump markets following its recent acquisition agreement with Norwegian water heating company OSO. 2025-07-07 14:40:06

Special counsel team seeks arrest warrant for Yoon Suk Yeol SEOUL, July 06 (AJP) - A special counsel team investigating the Dec. 3 martial law incident has requested an arrest warrant for former President Yoon Suk Yeol. At a press briefing, Sunday, prosecutor Park Ji-young confirmed that the team filed the request with the Seoul Central District Court earlier in the day. Yoon faces multiple charges, including obstruction of official duties by public officials, violation of the Presidential Security Act, abuse of power, and falsification of official documents. However, a key allegation that Yoon ordered the military’s drone operations unit to send an unmanned aircraft into Pyongyang to fabricate grounds for declaring martial law was not included in the arrest warrant. “The treason-related charge is still under investigation and requires further inquiry,” Park said. “It was not included at this stage due to the ongoing nature of the probe.” Yoon was initially arrested on January 15 but was released 52 days later following a controversial court decision. 2025-07-06 18:05:27

Korea's security chief heads to US for talks on Lee-Trump summit SEOUL, July 06 (AJP) - South Korea's National Security Adviser Wi Sung-lac departed for Washington, D.C., on Sunday for high-stakes talks with U.S. officials as the two allies navigate a tense moment in trade and defense negotiations — and explore the possibility of a summit between President Lee Jae Myung and U.S. President Donald Trump. Speaking to reporters at Incheon International Airport ahead of his departure, Wi said his three-day trip is aimed at “deepening consultations” on a range of urgent bilateral issues, including Washington’s evolving tariff regime and South Korea’s defense cost-sharing contributions. “Trade and security consultations between South Korea and the U.S. have entered a critical phase,” Wi said. “My visit reflects the importance of this moment.” At the top of the agenda are U.S. tariffs and sector-specific measures targeting steel, autos, and other key industries. Wi’s visit comes just days before a 90-day pause on the reciprocal tariffs is set to expire Tuesday. Wi also confirmed that preparations for a potential Lee-Trump summit are “on the agenda,” signaling Seoul’s intent to reset high-level diplomacy after months of political uncertainty. He added that a meeting with U.S. Secretary of State Marco Rubio — who also serves as National Security Advisor — is being pursued. The visit follows Wi’s participation in informal discussions with U.S. officials during last month’s NATO Summit, where he represented President Lee. He declined to disclose the outcome of those earlier talks, saying only that this week’s meetings would build on prior efforts. Wi’s trip marks his first to Washington since taking office last month and comes as South Korea mounts a coordinated diplomatic push in Washington. Trade Minister Yeo Han-koo also arrived in Washington on Saturday to lead parallel negotiations on tariffs and trade. “Minister Yeo’s visit is part of the government’s all-out efforts to respond to the current situation,” Wi said. His trip also comes in the wake of a last-minute cancellation by Rubio of a planned visit to Seoul. 2025-07-06 15:04:25

South Korea's ruling party axes Cambodia loan aid linked to former first lady SEOUL, July 06 (AJP) - South Korea’s ruling Democratic Party has scrapped the entire budget for development loans to Cambodia, as special prosecutors are investigating whether a former official from the Unification Church lobbied former First Lady Kim Keon Hee to support church-backed projects in the Southeast Asian country. The 80 billion won ($58 million) in official development assistance (ODA) loans, originally allocated for civil cooperation in Cambodia, has been cut, the party said on Sunday. The decision targets a sharp increase in loan support that took place during the administration of former President Yoon Suk Yeol. The move comes amid an ongoing special counsel probe into alleged behind-the-scenes influence by the controversial religious group. In April, prosecutors raided the home of Yoon and Kim as part of the investigation. A search warrant reportedly cited lobbying related to the “Mekong River Development Project” in Cambodia — a project linked to the Unification Church. Under Yoon’s leadership, South Korea raised its ODA loan ceiling for Cambodia twice: first from $700 million to $1.5 billion in June 2022, then to $3 billion following a summit with Cambodian Prime Minister Hun Manet in May 2023. One former ranking Unification Church official, identified only by the surname Yoon, claimed during a church event in May 2022 that he had met with then-President-elect Yoon Suk Yeol to discuss development aid. The Finance Ministry approved the first increase in loan limits just weeks later. 2025-07-06 14:32:51

Trump's sweeping economic bill may boost Korea's semiconductor, shipbuilding sectors SEOUL, July 06 (AJP) - U.S. President Donald Trump has signed into law a wide-ranging economic bill — dubbed the “One Big Beautiful Bill for America,” or OBBBA — cementing key elements of his domestic agenda and delivering a potential windfall to South Korea’s semiconductor and shipbuilding industries. The legislation, signed on July 4, includes a suite of measures aimed at reducing taxes, reforming welfare, strengthening national defense, and loosening government regulations. Among the chief beneficiaries are industries expected to see increased federal spending under the Trump administration, with semiconductors leading the pack. A centerpiece of the bill is an expansion of investment incentives tied to the 2022 CHIPS and Science Act. The tax credit for companies constructing semiconductor manufacturing facilities in the United States will rise to 35 percent from the current 25 percent — an aggressive push to boost domestic chip production and reduce reliance on overseas suppliers. Analysts in Seoul say the new incentives could offer a significant tailwind for South Korean tech firms like Samsung Electronics and SK hynix, which have already poured billions into U.S.-based fabs and R&D. Given the heavy capital intensity of the semiconductor industry, analysts expect the enhanced tax benefits to accelerate construction timelines and shorten the path to profitability. “The increased investment tax credits could prompt earlier groundbreaking of new fabs and research centers,” said one industry analyst. “That could have a meaningful impact on earnings going forward.” The legislation also earmarks $32.7 billion for the U.S. Department of Defense to rejuvenate the domestic shipbuilding industry, a move widely interpreted as part of Washington’s broader efforts to secure defense supply chains and strengthen military readiness. South Korean shipbuilders, including Hanwha Ocean and HD Hyundai Heavy Industries, are expected to be key partners in this initiative. Both companies are poised to win contracts in the U.S. commercial and naval ship markets, potentially starting in the second half of the year. Not all sectors fared well under the new law. Clean energy and healthcare industries, once central to the Biden-era Inflation Reduction Act, face significant setbacks. The OBBBA imposes steep cuts to tax credits previously offered for renewable energy and electric vehicle purchases. It also tightens eligibility deadlines, raising uncertainty around long-term investment in green technologies. Tax credits of up to $7,500 for electric vehicle purchases, originally set to remain in place through 2032, will now expire on Sept. 30. Similarly, tax incentives for solar and wind projects will begin phasing out in 2026 and are scheduled to be eliminated entirely by 2028 — four years ahead of schedule. Analysts warned the changes could dampen investor sentiment across the clean energy, battery, and EV sectors. “It’s not just the early sunset of the tax credits,” said another analyst. “The bill also strips away mechanisms for raising funds in these areas, effectively halting meaningful federal support.” While the OBBBA marks a significant pivot in U.S. industrial policy, it also signals a recalibration of priorities — favoring strategic manufacturing and defense capacity over decarbonization and healthcare expansion. 2025-07-06 10:37:54

GS Retail launches AI-assisted feature to help customers shop for alcoholic beverages SEOUL, July 4 (AJP) - GS Retail, the operator of convenience store chain GS25, has launched a new feature that allows customers to identify wines and other alcoholic beverages simply by photographing them without the need to scan QR codes or barcodes. Since last week, the artificial intelligence-assisted feature is available on its mobile app Wooridongne's Wine25Plus. It can recognize and provide information on approximately 10,000 types of alcoholic beverages such as wines and whiskey as well as traditional Korean liquors, Japanese rice wine (sake) and Chinese baijiu. Customers just need to take photos of products and upload them to access detailed information and real-time reviews, making shopping easier, especially for those who find it difficult to distinguish between brands and varieties in liquor stores. GS Retail said its Wine25Plus online store currently handles an average of 9,000 alcohol-related searches daily, demonstrating strong demand for the feature. A GS Retail spokesperson told AJP on Friday, "We went through rigorous testing to enhance searches and improve accuracy ahead of the feature's launch," adding that even foreigners can use the service after downloading the app and completing some verification procedures. Users who order products through the app can also pick them up at their nearest GS25 convenience stores nationwide. "I believe the latest feature makes shopping even more convenient for customers," said Seo Dong-woo, head of GS Retail's Platform DX division, adding that the company plans to continue expanding AI-powered services. 2025-07-04 17:35:24

Chinese tech giant Tencent unveils massive investment plans to boost cloud business in South Korea SEOUL, July 4 (AJP) - Chinese tech giant Tencent aims to boost investment and hiring to expand its presence here, as it considers South Korea a key strategic market. During an interview in central Seoul earlier this week, general manager Nicky Fang of Tencent Cloud, a cloud computing service arm, unveiled the company's ambitious plans to further accelerate its business here, with a focus on gaming, e-commerce, and entertainment. In particular, it seeks to leverage its expertise in the entertainment industry including online video streaming to compete with global archrivals and other competitors. Since making an inroad into South Korea in 2018, Tencent Cloud currently operates two availability zones (AZs) in Seoul, in addition to offering exabyte-level storage across 56 availability zones in 21 regions globally. Fang particularly emphasized the company's "irreplaceable strength" in the entertainment industry, citing its WeChat messaging platform with over 1.4 billion users and its strong presence in the gaming sector, which sets it apart from other cloud-service competitors. South Korea's cloud business market has been dominated by the big three global players, with Amazon Web Services holding a lion's share of 60.2 percent, followed by Microsoft Azure at 24 percent and Google Cloud at 19.9 percent, according to a 2023 survey by the Ministry of Science and ICT. Specific figures for Tencent Cloud's market presence in South Korea are not readily available due to its recent entry here. Tencent Cloud's latest expansion plans come after another Chinese giant, Alibaba Cloud, opened its second data center in Seoul last month, about three years after its first one in 2022. Welcoming what could be a heated competition with Alibaba Cloud, Fang said, "Alibaba Cloud's addition of another data center in South Korea proves that our strategy of prioritizing the South Korean market was correct." He vowed the company aims to achieve double-digit annual growth but declined to provide details on sales revenues. 2025-07-04 17:00:35

Empyrion Digital opens first new Gangnam data center in over a decade SEOUL, July 04 (AJP) - Singapore-based Empyrion Digital officially opened its KR1 Gangnam Data Centre on Wednesday, marking the first new data center development in Seoul's Gangnam district in more than 10 years. The 29.4 megawatt IT load facility, located in Seocho District, spans 30,714 square meters and represents the company's second operational asset in Asia following its 2021 acquisition of SG1 Dodid in Singapore. Singapore Ambassador to South Korea H.E. Eric Teo, Seocho District Vice Mayor Jung Young-jun, and other business leaders attended the opening ceremony. The facility is designed to support hyperscaler and enterprise customers requiring high-density infrastructure for artificial intelligence and cloud computing applications, with each rack capable of handling up to 140 kilowatts of AI workloads. "KR1 GDC is launched at a time when demand for high-quality, power-secured facilities in the Seoul metropolitan area far exceeds supply," said Mark Fong, chief executive of Empyrion Digital. "With South Korea advancing its goal to become a global AI powerhouse, KR1 GDC reflects Empyrion Digital's foresight and execution in addressing this infrastructure gap." The data center features advanced cooling technologies and green design principles, with a Power Usage Effectiveness rating of 1.3. The facility includes seven data halls across floors two through eight, with ceiling heights of seven meters for floors one through six and eight meters for floors seven and eight. The building can provision up to 40 megawatts of power, with 25.4 megawatts available for IT devices. Chief Strategy Officer Choi Yong-seok explained the strategic location choice, saying “our data center is located in the region where network connectivity is ensured in its maximum” and noted the facility is positioned just 500 meters from the Gyeongbu Expressway, which connects Seoul to the southern port city of Busan. Empyrion Digital is a portfolio company of Seraya Partners, an Asia-focused infrastructure fund managing 1.8 billion dollars in assets. The company received operational certification last Friday and is strategically positioned near major network connectivity points, including Sejong and Gasan, with direct access to national backbone networks via the nearby Yangjae-daero corridor. 2025-07-04 11:13:46

French AI firm Dataiku courts Korean enterprises SEOUL, July 03 (AJP) - Dataiku, a French artificial intelligence platform company, unveiled its strategy to support South Korean businesses in adopting AI and accelerating digital transformation, during a press briefing in Seoul on Thursday. The company emphasized its growing partnerships with major Korean firms such as LG Chem and Nepes, highlighting its integrated platform’s flexibility and enterprise-grade security. The firm's co-founder and Chief Technology Officer Clément Sténac and Vice President of Platform Strategy Jed Dougherty outlined the firm's AI capabilities. “Our goal is to help organizations scale AI safely, transparently, and across all departments,” Sténac said. “AI is the core technology of the next industrial revolution, and we’re here to ensure that Korean companies can lead it.” Dataiku said its platform enables organizations to integrate AI across both multi-cloud and on-premises environments while preserving existing IT infrastructure. Dataiku’s presence in Korea is part of its broader global expansion. The company, which began in Paris and is now headquartered in New York, serves more than 700 customers worldwide — including over 220 Fortune 500 companies — through 13 international offices, the firm said. 2025-07-03 16:56:54