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[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
[K-Trade] S. Korea launches joint task force team to eradicate stock manipulation SEOUL, July 30 (AJP) - A joint team of South Korean financial regulators was launched on Wednesday, in a bid to eradicate stock price manipulation that has been plaguing the market. The joint response team, comprised of officials from the Financial Services Commission (FSC), the Financial Supervisory Service, and the Korea Exchange, is to detect illegal and unfair trading practices. "We will mark 2025 as the first year of exterminating stock manipulation by showing the wrongdoe July 30, 2025
[K-Trade] South Korean deputy PM meets US commerce chief on tariff talks SEOUL, July 30 (AJP) - South Korean Deputy Prime Minister and Finance Minister Koo Yoon-cheol held two hours of trade discussions with the United States Commerce Secretary Howard Lutnick on Tuesday (local time), South Korea's Ministry of Economy and Finance said. The meeting took place immediately after Koo arrived in Washington, D.C., with Trade Minister Kim Jung-kwan and chief trade negotiator Yeo Han-koo. The talks come as South Korea faces a 25 percent U.S. tariff on its e July 30, 2025
[K-Tech] Hanwha Ocean to secure $254 million order for very large crude oil carriers SEOUL, July 29 (AJP) - Hanwha Ocean has secured a 353.6 billion won (approximately $254 million) order to build two Very Large Crude Carriers (VLCCs) for a shipowner based in the Oceania region, the company announced in a regulatory filing on Tuesday. The vessels will feature Hanwha Ocean’s proprietary fuel-saving technology designed to minimize carbon emissions, highlighting the company’s focus on eco-friendly shipbuilding solutions. With this latest deal, Hanwha O July 30, 2025
[K-Tech] KITA urges nation to nurture fabless startups to boost semiconductor competitiveness SEOUL, July 30 (AJP) - South Korea must foster fabless semiconductor startups to strengthen its position in the rapidly expanding system semiconductor market driven by artificial intelligence growth, a trade association report said Wednesday. The Korea International Trade Association (KITA) released a report highlighting the urgent need to develop the fabless ecosystem as non-memory semiconductors increasingly dominate global markets. Korea's share of the global system semico July 30, 2025
IMF cuts Korea's 2025 growth outlook to 0.8 percent SEOUL, July 30 (AJP) - The International Monetary Fund (IMF) has downgraded South Korea's 2025 economic growth forecast to below 1 percent, amid rising global trade uncertainty driven in part by the United States-related tariff tensions. According to the Ministry of Economy and Finance on Tuesday, the IMF, in its July World Economic Outlook (WEO), lowered South Korea's growth projection by 0.2 percentage points from its previous estimate to 0.8 percent. This revision stan July 30, 2025