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Pulmuone reports record earnings in first half, fueled by food service and distribution
SEOUL, August 16 (AJU PRESS) - Korean food company Pulmuone posted record revenue and profits for the first half of 2024, driven by strong performance in food service and distribution businesses. Revenue increased by 5.2 percent year-on-year to 1.56 trillion won ($1.1 billion) for the first half of this year, the company said in a regulatory filing Wednesday. Operating profit surged 12 percent to 32.5 billion won. For the second quarter, revenue rose by 5 percent year-on-year to
August 16, 2024
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Samsung's AI-powered home appliances surpass 1.5 million units in sales this year
SEOUL, August 16 (AJU PRESS) - Samsung Electronics said Friday sales of its AI-powered home appliances have surpassed 1.5 million units from January to July this year. AI-enabled products account for two out of every three appliances sold in Samsung stores over the past three months, according to the company. The data includes 15 types of products, such as TVs, monitors, refrigerators, washing machines, air conditioners and robot vacuums. The company attributes this popularity
August 16, 2024
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Moody's upgrades SK hynix's credit outlook
SEOUL, August 14 (AJU PRESS) - International credit rating agency Moody's on Wednesday upgraded SK hynix's outlook from 'Negative' to 'Stable' while maintaining its 'Baa2' corporate credit rating. The agency cited significant improvements in the Korean chipmaker's earnings and cash flow, driven by rising memory prices and the company's competitive edge in AI chip technologies. Moody's expects the positive trend to continue over the next 1
August 14, 2024
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Korean battery makers may benefit as EV manufacturers disclose supplier information
SEOUL, August 14 (AJU PRESS) - The Korean government's recommendation for electric vehicle manufacturers to disclose their battery suppliers, following a recent fire incident, is expected to strengthen the position of Korea's top three battery makers, experts said Wednesday. The Korean government announced the measure on Tuesday in response to growing demand for transparency regarding EV batteries, following the August 1 fire in Incheon involving a Mercedes-Benz EV. Th
August 14, 2024
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Hyundai Mobis rewards innovation in corporate social value contest
SEOUL, August 14 (AJU PRESS) - Hyundai Mobis Co., a leading Korean auto parts maker, announced Wednesday the successful conclusion of the 2024 Impact Idea Challenge, a competition inviting university students and young job seekers to propose business ideas that create corporate social value. The top award went to a team that proposed a system using sensors to detect vehicle submersion, share location information and assist passengers in escaping. The second prize was awarded to a
August 14, 2024
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LS Electric to expand ultra-high voltage transformer plant
SEOUL, August 14 (AJU PRESS) - LS Electric plans to invest an additional 20.5 billion won ($15 million) to expand its plant for ultra-high voltage transformers in Busan. The board of Korea’s leading power solutions provider approved the plan on Tuesday, aimed at meeting the growing global demand for electric equipment, especially in North America. The new investment supplements the 80.3 billion won already allocated in May, bringing the total investment to 100.8 billion won
August 14, 2024
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Samsung Electronics workers to stage four-day strike
SEOUL, August 14 (AJU PRESS) - Unionized workers at Samsung Electronics said Wednesday that they will go on a four-day strike during this week’s “sandwich holiday” period, demanding wage hikes and improved bonus systems. The walkout by the National Samsung Electronics Labor Union will begin on Thursday, August 15 (Liberation Day), and continue through Sunday. This action comes two weeks after the union ended its 25-day strike on August 1, transitioning to a long
August 14, 2024
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Gaming executives take active role in fostering player interaction
SEOUL, August 13 (AJU PRESS) - The G-Star convention in Bexco, Busan, was abuzz with enthusiasm as fans awaited the opportunity to meet the developers and innovators who have propelled Korea onto the global gaming stage. The excitement reached its peak when Keum Kang-sun appeared in the northern section of the convention site that was showcasing the mobile version of “Lost Ark,” a highly acclaimed PC-based MMORPG (massively multiplayer online role-playing game). &quo
August 13, 2024
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Kakao Pay probed for sharing millions of users' data with Alipay
SEOUL, August 13 (AJU PRESS) - Korea's financial regulator said Tuesday Kakao Pay, the online payment arm of tech giant Kakao Corp., has been transferring personal credit information of millions of customers to China’s Alipay without consent for over six years. According to the Financial Supervisory Service (FSS), the company has shared data of 40.45 million users, totaling 54.2 billion pieces of personal credit information, with Alipay since April 2018. The regulator i
August 13, 2024
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CJ CheilJedang reports double-digit profit growth on overseas food sales
SEOUL, August 13 (AJU PRESS) - Korean food and bio company CJ CheilJedang announced on Tuesday that its second-quarter operating profit rose 14.1 percent year-on-year to 269 billion won ($196 million), marking the third consecutive quarter of profit growth. Sales increased 0.3 percent to 7.239 trillion won, while net income increased 16 percent to 147.8 billion won. The company's overseas food business showed strong performance, with sales in Europe surging 57 percent as it
August 13, 2024
