Gangnam: The epitome of affluence in modern Korea

SEOUL, September 27 (AJP) - Gangnam in southern Seoul has been one of the most prosperous and wealthiest districts in Korea. The affluent area has now become a symbol of modern Korea, often associated with upscale lifestyle, economic success, and cultural vibrancy. Its reputation grew even further, after rapper Psy's megahit song "Gangnam Style" went viral globally in 2012. Gangnam, with its outstanding infrastructure and high-quality amenities that integrate b

September 27, 2024

Korea to lure more skilled foreign talent

SEOUL, September 27 (AJP) - Korea is set to attract more skilled workers from abroad as the country faces a declining population. The Ministry of Trade, Industry, and Energy said on Friday that it will introduce a new visa program for foreigners in high-tech industries and also streamline the overall process for obtaining work permits. "Unlike other countries such as Japan and Singapore, which are keen to attract global talent, Korea lags behind by focusing primarily on nurt

September 27, 2024

KEPCO builds largest energy storage system in Asia

SEOUL, September 27 (AJP) - Korea Electric Power Corp. (KEPCO) has constructed Asia's largest energy storage system (ESS) in the southern city of Miryang. The state power company held a completion ceremony on Thursday for the 978 megawatt-class ESS for grid stabilization in Miryang. The ESS is a system that stores electricity when demand is low and supplies it during peak times. This project, with a total investment of 830 billion won, involved installing a power conversion s

September 27, 2024

POSCO Future M delays completion of Canadian JV cathode plant

SEOUL, September 27 (AJP) - Korean battery materials maker POSCO Future M announced postponing the completion of its cathode material plant in Canada, a joint venture with General Motors (GM). The facility in Bécancour, Québec, originally scheduled to be finished on Sept. 30, will see its completion date adjusted due to local conditions, the company said in a regulatory filing on Thursday. "We are currently adjusting the completion schedule due to local circumstan

September 27, 2024

Samsung unveils Galaxy Tab S10 series with enhanced AI features

SEOUL, September 27 (AJP) - Samsung Electronics on Friday released its new premium tablet line, the Galaxy Tab S10 series, featuring the S10 Ultra and S10+ models. The devices boast Dynamic AMOLED 2X displays and are powered by MediaTek Dimensity 9300+ processors, offering improved performance compared to previous models. The tablets incorporate AI-optimized features for large screens, including Note Assist for voice recording transcription and PDF translation, and Circle to Search

September 27, 2024

Korean trade association opens office in Poland

SEOUL, September 27 (AJP) - The Korea International Trade Association (KITA) said Friday it has opened its second overseas office in Europe in Warsaw, the capital of Poland, to support exports to Central and Eastern Europe. Poland is Korea's second-largest export destination in the European Union, KITA said, adding that the two countries are collaborating in various fields, including batteries, defense, infrastructure, and the reconstruction of Ukraine. "Last year, trade

September 27, 2024

Seoul court rules Samsung C&T not liable for delayed interest to Elliott

SEOUL, September 27 (AJP) - A Seoul court ruled on Friday that Samsung C&T is not required to pay delayed interest to the U.S. hedge fund Elliott in a lawsuit over a controversial merger between two Samsung Group units. The Seoul Central District Court rejected Elliott's claim for the additional payment of 26.7 billion won (US$20.2 million), which stemmed from a dispute over Samsung C&T's merger with Cheil Industries in 2015. Elliott opposed the merger and exercis

September 27, 2024

SK Ecoplant unit launches battery recycling plant in Netherlands

SEOUL, September 27 (AJP) - SK tes, a subsidiary of Korean environmental services firm SK Ecoplant, announced the inauguration of a battery recycling facility in Rotterdam, Netherlands on Friday. The plant, capable of processing batteries from about 40,000 electric vehicles annually, aims to strengthen the company's position in the growing European battery recycling market. The facility, spanning 10,000 square meters, can produce up to 10,000 tons of black mass per year. Black m

September 27, 2024

OPINION: African countries face hurdles, dangers in getting permanent seats at UN security council

SEOUL, September 27 (AJP) - There is growing global consensus among the members of the United Nations that the UN security council, responsible for maintaining international peace and security, requires reform or restructuring to reflect the current balance of forces, and to improve its working methods and ability to do its work. There is also growing consensus among members of the African Union that Africa deserves a permanent presence at the council. The debate took a new turn

September 27, 2024

LG Chairman Koo calls for bold goals at executive workshop

SEOUL, September 26 (AJP) - LG Group’s top executives held a workshop on Wednesday to discuss mid- to long-term management strategies, focusing on customer experience innovation and artificial intelligence transformation. During the President's Workshop at LG Inhwawon in Icheon, Gyeonggi Province, Chairman Koo Kwang-mo emphasized the importance of setting ambitious targets to cope with ever-fierce global competition. "Let’s make history by setting our sights

September 26, 2024