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

OPINION: How Israel's Netanyahu survives in his job

SEOUL, September 20 (AJP) - After several tumultuous weeks in Israel, mass demonstrations increasingly depict Prime Minister Benjamin Netanyahu as directly responsible for the fate of the hostages still held by Hamas. Despite mounting internal and international pressure to negotiate a deal with Hamas for the hostages' release, Netanyahu remains steadfast in his opposition to such an agreement. Reports in the Israeli and international media accuse Netanyahu of actively attempting

September 20, 2024

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

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

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

PHOTOS: Indian Embassy teases upcoming festival

SEOUL, September 19 (AJP) - The Indian Embassy to Korea is set to hold its annual festival promoting Indian culture early next month. Specific details about this year's festival, which kicks off its 9-day run on Oct. 1, were unveiled during a media briefing last week. According to the embassy, it will feature Kuchipudi dance performances in various Korean cities, including Busan, Gwangju, and Seoul. The festival's name, "Sarang," which means "love" in Korea

September 19, 2024

Taihan Cable wins first U.S. HVDC contract

SEOUL, September 19 (AJP) - Korea's major power cable manufacturer Taihan Cable & Solution said on Thursday it secured its first high-voltage direct current (HVDC) project in the United States. The company has been selected to supply cables for a 320kV voltage-sourced converter HVDC and 500kV high-voltage alternating current (HVAC) project in California. The contract, awarded by U.S. power company LS Power Grid California, is valued at about 90 billion won ($67 million).

September 19, 2024

GS Caltex exports commercial-scale bio aviation fuel to Japan

SEOUL, September 19 (AJP) — GS Caltex has exported sustainable aviation fuel (SAF) to Japan, the Korean oil company said Thursday. The company supplied about 5,000 kiloliters of CORSIA SAF, blended with conventional aviation fuel, to Narita Airport in Japan last Friday through Itochu Corp. It marked the first commercial-scale sale of CORSIA SAF by a Korean refiner, certified by the International Civil Aviation Organization (ICAO). The fuel will be sold to Japanese airlines

September 19, 2024

Samsung launching AI-based washer-dryer in Peru, Argentina

SEOUL, September 19 (AJP) — Samsung Electronics said Thursday it is launching its AI-powered Bespoke AI Combo washer-dryer in Peru, Argentina and other Latin American markets this month. At the forefront of Samsung's AI home appliance strategy, the all-in-one washer-dryer allows users to wash and dry clothes without needing to transfer them between machines. It features a high-efficiency inverter heat pump system and offers drying performance comparable to standalone dryer

September 19, 2024

USFK nominee warns of North Korean missile threats

SEOUL, September 19 (AJP) - North Korea's rapidly advancing nuclear and missile programs are the most urgent challenging tasks for the post to lead the U.S. Forces Korea (USFK), said a nominee during his confirmation hearing. Lieutenant General Xavier T. Brunson, who is poised to assume the triple-hatted position also overseeing the Combined Forces Command (CFC) and United Nations Command (UNC), if confirmed, stressed the need to strengthen defense against North Korea's grow

September 19, 2024