Industry

  • SK hynix uses Linux for enhanced memory performance
    SK hynix uses Linux for enhanced memory performance SEOUL, September 23 (AJP) - SK hynix announced Monday the integration of key features from its Heterogeneous Memory Software Development Kit (HMSDK) into Linux, the world’s largest open-source operating system. HMSDK optimizes the performance of Compute Express Link (CXL) memory, a next-generation interface for high-performance computing systems. The company’s software solution enhances bandwidth by 30 percent and improves performance by over 12 percent compared to exi September 23, 2024
  • Koreas confectionery exports set to hit record high amid global popularity
    Korea's confectionery exports set to hit record high amid global popularity The members of girl band NewJeans promote a Korean snack in this still from an ad. SEOUL, September 23 (AJP) - Korean snacks are captivating the palates of consumers worldwide amid the soaring global popularity of K-pop. Exports of Korean confectionery totaled US$494.2 million during the first eight months of this year, a 15.4-percent increase compared to the same period of last year, the Ministry of Agriculture, Food and Rural Affairs said on Monday. If this trend continue September 23, 2024
  • SK On to start EV battery production for Hyundai in Georgia
    SK On to start EV battery production for Hyundai in Georgia SEOUL, September 23 (AJP) - Battery maker SK On will begin manufacturing electric vehicle (EV) batteries for Korea’s largest automaker Hyundai Motor at its U.S. plant next month, industry sources said on Sunday. SK Battery America (SKBA), the U.S. subsidiary of SK On, plans to initiate production of EV batteries for Hyundai at its Georgia facility in October. The company has been modifying production lines previously dedicated to U.S.-headquartered Ford Motor to accommodate September 23, 2024
  • Naver to establish Middle East headquarters in Saudi Arabia
    Naver to establish Middle East headquarters in Saudi Arabia SEOUL, September 23 (AJP) - South Korean tech giant Naver announced plans on Monday to set up its Middle East headquarters in Saudi Arabia by the end of 2024. The company, tentatively named “NAVER Arabia,” will participate in Saudi Arabia’s Regional HQ program, which aims to attract global companies to the kingdom. As part of this expansion, Naver intends to collaborate on large-scale national projects in advanced technology sectors and explore various business o September 23, 2024
  • LG Chem to supply cathode materials to Toyota-Panasonic JV
    LG Chem to supply cathode materials to Toyota-Panasonic JV SEOUL, September 23 (AJP) - South Korea’s leading chemical company LG Chem announced Sunday it will supply cathode materials used in batteries to Prime Planet Energy & Solutions (PPES), a joint venture between Toyota Motor Corp. and Panasonic Corp. in Japan. The agreement marks LG Chem’s expansion into the Japanese market, with deliveries expected to begin in 2026. PPES, a major battery manufacturer in Japan, supplies electric vehicle batteries to Toyota Motor and September 23, 2024
  • Korean govt debt-to-GDP ratio hits record high
    Korean gov't debt-to-GDP ratio hits record high SEOUL, September 20 (AJP) – Korea's government debt-to-GDP ratio reached a record high in the first quarter of this year, according to data from the Bank for International Settlements (BIS) updated on Monday. The ratio stood at 45.4 percent at the end of March, marking the first time it has exceeded 45 percent since the BIS began tracking the data in the fourth quarter of 1990. This figure represents a notable increase from 44 percent at the end of 2023. The BIS estimat September 20, 2024
  • LIG Nex1 signs 3.7 trillion won missile deal with Iraq
    LIG Nex1 signs 3.7 trillion won missile deal with Iraq SEOUL, September 20 (AJP) – Korean defense firm LIG Nex1 has secured a contract worth about 3.7 trillion won ($2.78 billion) to supply medium-range surface-to-air missiles to Iraq, the company announced on Friday. The deal, signed in Baghdad, on Thursday, involves the export of the domestically developed Cheongung II missile system, capable of intercepting both ballistic missiles and aircraft. Iraq is the third Middle Eastern country to adopt the Korean air defense system, September 20, 2024
  • S-Oil signs MOU with Tway Air for sustainable aviation fuel supply
    S-Oil signs MOU with T'way Air for sustainable aviation fuel supply SEOUL, September 19 (AJP) - Korean oil refiner S-Oil Corp. has signed a memorandum of understanding (MOU) with low cost carrier T'way Air to supply sustainable aviation fuel (SAF) and collaborate on joint marketing initiatives, the companies announced on Thursday. Under the agreement, S-Oil will provide SAF for T'way Air's commercial flights to Japan starting this month, with plans to expand supply for future routes. The partnership aims to promote sustainable growth in September 19, 2024
  • Koreas imports of Chinese EVs surpass 1 trillion won
    Korea's imports of Chinese EVs surpass 1 trillion won SEOUL, September 19 (AJP) - Korea’s imports of Chinese electric vehicles (EVs) have exceeded 1 trillion won ($848 million) in the first seven months of 2024, government data showed Wednesday. The Ministry of Trade, Industry and Energy and the Korea International Trade Association reported that Chinese EVs accounted for 65.8 percent of Korea's total EV imports from January to July, reaching 1 trillion won, a staggering 848 percent increase compared to the same period last September 19, 2024
  • Hanwha Ocean commits to strengthening workplace safety following worker fatalities
    Hanwha Ocean commits to strengthening workplace safety following worker fatalities SEOUL, September 19 (AJP) - Korea's Hanwha Ocean has pledged investments to strengthen workplace safety systems, following recent worker fatalities. On Sept. 9, a worker in his 40s fell 30 meters from a container ship under construction at Hanwha Ocean's Okpo shipyard on the southern island of Geoje. He was severely injured and transported to the hospital in cardiac arrest but ultimately passed away. Earlier this year, the Korean shipbuilder reported fatal accidents at it September 19, 2024