LG Electronics targets doubling Europe appliance revenue within five years SEOUL, September 05 (AJP) - LG Electronics outlined plans to double its European home appliance revenue within five years and become the region's leading appliance brand, according to statements made Friday (KST) during a media briefing at IFA 2025 in Berlin. Home and Living Solutions division head Ryu Jae-chul presented the company's European market strategy focusing on B2B, direct-to-consumer sales, and non-hardware services to achieve sustainable growth. The European ap September 5, 2025

South Korea launches task force to develop AI-powered smart cities SEOUL, September 05 (AJP) - South Korea's Ministry of Land, Infrastructure and Transport has established a dedicated task force to spearhead the development of artificial intelligence-driven cities, marking a significant step beyond traditional smart city initiatives. The newly formed task force held its inaugural meeting on Friday, bringing together departments specializing in urban development, architecture, and mobility alongside key research institutes and public corporation September 5, 2025

SK hynix maintains DRAM market lead over Samsung in second quarter SEOUL, September 05 (AJP) - SK hynix retained its position as the world's largest DRAM manufacturer in the second quarter of 2025, widening its lead over Samsung Electronics as high-bandwidth memory (HBM) demand continued to drive growth, according to data released Friday by market research firm Omdia. Global DRAM industry revenue increased 17.3 percent quarter-over-quarter to $30.92 billion, driven by rising contract prices and increased HBM shipments. SK hynix expanded its D September 5, 2025

South Korea's credit card firms post profit drop as delinquency hits decade high SEOUL, September 05 (AJP) - South Korea's credit card companies saw their combined net profits sink more than 18 percent in the first half of the year, with delinquency rates climbing to their highest point in over a decade, according to data released Friday by the Financial Supervisory Service (FSS). Net profits stood at 1.2251 trillion won ($8.79 billion) for the January–June period, down 18.3 percent from a year earlier. The slide came even as revenue rose by 331.1 bi September 5, 2025

South Korea's egg prices surge ahead of traditional holiday Chuseok amid supply shortage SEOUL, September 05 (AJP) - South Korea's egg prices are expected to climb further as the Chuseok, traditional Korean thanksgiving holiday season, is set to take place in early October. Also, supply constraints stemming from extreme summer heat continue to squeeze the market. The Korea Rural Economic Institute projected Friday wholesale egg prices would reach 1,900 to 1,950 won (around $1.43 to $1.47) per 10 extra-large eggs in September, marking a potential 15.7 percent increas September 5, 2025

LG Electronics to supply cooling systems for AI data center in US SEOUL, September 04 (AJP) - LG Electronics said Thursday it had secured a major contract to provide cooling solutions for a large artificial intelligence data center in the United States. Jo Joo-wan, the company’s chief executive, announced the win on LinkedIn, saying LG would supply chillers with advanced “free-cooling” capabilities. He didn't mention the value of the contract. “This demonstrates both our technological competitiveness and our abilit September 4, 2025

SK On expands into US energy storage market with $1.4 billion battery deal SEOUL, September 04 (AJP) - Battery maker SK On said Thursday it had secured a major foothold in the North American energy storage market by signing a large supply contract with Colorado-based Flatiron Energy. The deal covers one gigawatt-hour of containerized storage systems using lithium iron phosphate (LFP) batteries for a project in Massachusetts, beginning next year. SK On also gained “preferred supplier” status for Flatiron’s broader portfolio of U.S. proje September 4, 2025

Korea's top business lobby ties economic recovery to green growth SEOUL, September 04 (AJP) - South Korea’s most powerful business lobby urged the government Thursday to pair consumer stimulus with an ambitious green transition as the country struggles with sluggish growth and rising climate pressures. The Federation of Korean Industries, which represents the country’s largest conglomerates, presented a seven-point “renewal” strategy that it said could both spur household consumption and advance the nation’s carbon ne September 4, 2025

South Korea finds lifeline in Southeast Asia as US tariffs weigh on exports SEOUL, September 04 (AJP) - South Korea’s exports to Southeast Asia surged in August, offsetting declines in shipments to the United States as Washington’s trade barriers increasingly disrupt bilateral flows. Exports to the Association of Southeast Asian Nations rose 12 percent from a year earlier to a record $10.89 billion, the trade ministry said Thursday. It was the third consecutive month of growth to the bloc, which has become an increasingly vital market for Korean September 4, 2025

US patent firm alleges LCD patent infringement by LG Electronics SEOUL, September 04 (AJP) - A U.S. intellectual property management company has filed a complaint with the U.S. International Trade Commission, accusing LG Electronics and several other television manufacturers of infringing patents covering liquid crystal display (LCD) technology. BH Innovations LLC named South Korea’s LG, China’s Hisense and TCL, and U.S.-based Vizio as respondents in the case, according to data released Thursday by the patent information platform RP September 4, 2025