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Apple's latest iPhone 16 fails to impress despite AI features
SEOUL, September 10 (AJP) - Apple's unveiling of the iPhone 16 series, touted for its artificial intelligence capabilities, received a lukewarm response from the market. The company's stock barely moved, closing just 0.04 percent higher at $220.91, underperforming compared to the broader tech-heavy Nasdaq index. CEO Tim Cook emphasized the iPhone 16 series was “designed from the ground up” for AI. However, key AI functionalities are not fully integrated and will
September 10, 2024
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Coupang challenges 162 billion won antitrust fine in Korean court
SEOUL, September 10 (AJP) - Korea's leading e-commerce platform Coupang has filed an administrative lawsuit against the Korea Fair Trade Commission (KFTC), contesting a record fine of about 162 billion won ($120 million) for alleged unfair business practices, market insiders said on Tuesday. The legal action, initiated on Sept. 5 at the Seoul High Court, seeks to overturn both the corrective order and the monetary penalty imposed by the antitrust regulator last month. The KFT
September 10, 2024
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PHOTOS: Inside the IFA 2024
SEOUL, September 09 (AJP) - IFA 2024, Europe's largest consumer electronics show, is held from Sept. 6 to 10 in Berlin, Germany. Major electronics companies from around the world, including Samsung Electronics and LG Electronics, participated in the event, showcasing their latest technologies and products. Both companies focused on AI-based smart home technologies, with Samsung presenting the theme "AI for All" and LG featuring "AI Home Reimagined with Affectionate Intelligen
September 9, 2024
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RSQUARE to transform shopping mall into mixed-use office space in Seoul
SEOUL, September 09 (AJP) - RSQUARE, a commercial real estate firm, said Monday it has been selected to carry out a project to transform a large-scale shopping mall in eastern Seoul into office space. The building, which houses Enter 6 - Park Avenue Hanyang University, was purchased by GRE Partners Asset Management for 112.1 billion won ($83.5 million) and will be repurposed from a shopping mall to office space and redeveloped into a mixed-use complex. RSQUARE was selected as th
September 9, 2024
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Samsung, LG unveil AI home appliance ambitions at IFA
SEOUL, September 09 (AJP) - Samsung Electronics and LG Electronics presented their artificial intelligence home appliance strategies at IFA 2024 in Berlin, Germany, focusing on building smart home ecosystems powered by artificial intelligence. LG Electronics introduced its AI agent FURON and AI home hub ThinQ ON at IFA, Europe's largest consumer electronics trade show, which opened Friday for a five-day run. "Customers only need to communicate with generative AI as they
September 9, 2024
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Samsung SDI unveils new battery solutions at U.S. energy expo
SEOUL, September 9 (AJP) - Samsung SDI is showcasing its latest energy storage system (ESS) battery solutions at Renewable Energy Plus 2024, North America's largest renewable energy exhibition, which opened in Anaheim, U.S., on Monday for a four-day run. The Korean battery maker introduced its Samsung Battery Box (SBB) 1.5, a containerized ESS solution featuring improved energy density and an enhanced fire suppression system. The new model boasts a 37 percent increase in energy
September 9, 2024
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Musinsa hosts beauty festival in Seoul's Seongsu District
SEOUL, Sept. 6 (AJP) - Musinsa, a popular online fashion platform in South Korea, kicked off its first offline beauty event Friday in Seoul's Seongsu district and Seoul Forest area. The three-day Musinsa Beauty Festa In Seongsu showcases 41 rising beauty brands, with about 80 percent being small and medium-sized companies. The main pop-up space, called the Total Zone, is located in the Iron Building near Ttukseom Station, featuring 26 brands covering skincare, makeup and fra
September 6, 2024
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KHNP to invest in U.S. developer of small reactors
SEOUL, Sept. 6 (AJP) - The state-run Korea Hydro & Nuclear Power (KHNP) plans to invest about $40 million in TerraPower, a U.S. developer of next-generation small modular reactors (SMR). "We recently convened a board meeting and conditionally approved the plan to acquire shares in the U.S. nuclear power SMR developer," a KHNP official told AJP on Friday. She added that the company will proceed with the investment if no significant issues arise with TerraPower. If t
September 6, 2024
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Korea mandates battery information disclosure for electric vehicles
SEOUL, Sept. 6 (AJP) – The Korean government on Friday announced a comprehensive safety plan for electric vehicles (EVs), which includes the mandatory disclosure of battery information and the early introduction of a battery certification system. The decision was made during a ministerial meeting chaired by Prime Minister Han Duck-soo earlier in the day to address public concerns about EV safety, following a fire involving a Mercedes-Benz sedan in Incheon, west of Seoul, on
September 6, 2024
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Samsung, LG showcase AI-powered home appliances at IFA
SEOUL, Sept. 6 (AJP) – Korean tech giants Samsung Electronics and LG Electronics are showcasing their cutting-edge, AI-powered appliances at IFA, Europe's largest consumer electronics trade show, in Berlin. The exhibition, celebrating its 100th anniversary, opened Friday for a five-day run. Over 2,000 companies are participating in the event, which highlights AI and connectivity as the driving forces behind the next generation of home appliances. Under the theme “
September 6, 2024
