LG Electronics aims to double B2B sales to 10 trillion won by 2030

SEOUL, October 10 (AJP) - LG Electronics said on Thursday that it aims to double the sales of its Business Solutions (BS) division to 10 trillion won ($7.4 billion) by 2030. Jang Ik-hwan, head of the BS division, said that the company will expand its presence in the new-growth markets, including commercial displays, electric vehicle chargers and medical monitors, to achieve the goal. “Over the past 66 years, LG has accumulated valuable insights into its customers and the di

October 10, 2024

Hyundai E&C signs deal with Singaporean consulting firm to collaborate on new energy sectors

SEOUL, October 10 (AJP) - Hyundai Engineering and Construction has signed a memorandum of understanding (MOU) with Surbana Jurong, Singapore's major infrastructure and urban development consulting firm, to collaborate in the new energy and carbon mitigation sectors, the Korean construction firm announced Thursday. The agreement, signed on Tuesday, calls for technology exchanges and cooperation in infrastructure development across areas such as next-generation power generation pr

October 10, 2024

Samsung's brand value surpasses $100 billion, ranks 5th globally: Interbrand

SEOUL, October 10 (AJP) - Samsung Electronics has achieved a brand value of $100.8 billion this year, marking a 10 percent increase from last year, according to Interbrand's "Best Global Brands" report released Wednesday. This milestone places the company in the fifth position globally for the fifth consecutive year, making it the only Asian brand in the top five. Interbrand's evaluation, which considers financial performance, brand influence on purchasing deci

October 10, 2024

Korea to join FTSE Russell global bond index next year

SEOUL, October 10 (AJP) - Korea will join one of the world's top three bond indexes, managed by London-based FTSE Russell, starting in November 2025. FTSE Russell said Tuesday that the nation's government bonds will be included in the World Government Bond Index (WGBI). This marks the fourth attempt and successful inclusion since being appointed to the index provider's review list in September 2022. FTSE Russell explained that South Korea's market accessibilit

October 10, 2024

Mercedes-Benz faces lawsuit in Korea over electric vehicle fire

SEOUL, October 10 (AJP) – A group of 24 people, including owners of Mercedes-Benz electric vehicles (EVs), on Thursday filed a damages suit against the German luxury automaker and its local sellers in connection with a massive fire involving a Mercedes-Benz EV in August. A Mercedes-Benz EQE sedan exploded in the underground parking garage of an apartment complex in Incheon, west of Seoul, on Aug. 1, sparking a fire that injured about 20 people and damaged hundreds of other car

October 10, 2024

Samsung falls to third in Forbes' world's best employers ranking

SEOUL, October 10 (AJP) - Samsung Electronics has dropped from its four-year reign as the top company in Forbes' "World's Best Employers" list, now ranking third behind Microsoft and Alphabet. Forbes on Thursday announced the result of its survey of over 300,000 employees from 50 countries to evaluate 850 multinational companies. The assessment criteria included willingness to recommend the employer, along with factors such as salary, talent development and re

October 10, 2024

North Korea threatens to permanently cut off border with South Korea

SEOUL, October 10 (AJP) - North Korea said it would "permanently shut down and block the southern border" as part of a "self-defensive measure," the isolated country's state media reported on Wednesday. The move comes amid strained tensions between the two Koreas, which has worsened since North's summit with the U.S. in Hanoi collapsed in February 2019. Relations have further deteriorated as South Korean President Yoon Suk Yeol called the North the "

October 10, 2024

Suspected North Korean hackers stole nuclear reactor info from South Korean firm

SEOUL, October 10 (AJP) – Suspected North Korean hackers infiltrated a contractor for the state-run Korea Hydro & Nuclear Power Co. (KHNP) in 2020 and 2024, stealing information on nuclear power plants, a Seoul lawmaker said Thursday. The cyberattacks, which took place in September 2020 and June 2024, targeted the contractor’s document centralization system designed to prevent technology leaks and malware infections, according to Choi Min-hee of the opposition Democr

October 10, 2024

OPINION: Google Deepmind founder shares Nobel prize in chemistry for AI that unlocks shape of proteins

SEOUL, October 10 (AJP) - The 2024 Nobel prize in chemistry has been awarded to three scientists for their work on describing and predicting proteins with the help of computers. One half of the prize goes to David Baker from the University of Washington in the U.S. "for computational protein design," with the other half jointly awarded to Demis Hassabis and John M. Jumper, both from Google Deepmind, U.K., "for protein structure prediction." Using computers to car

October 10, 2024

Hyundai Mobis to make debut at Paris Motor Show

SEOUL, October 9 (AJP) - Korean auto parts maker Hyundai Mobis Co. said Wednesday that it will participate in the Paris Motor Show for the first time, aiming to accelerate its expansion into the European market. The company, affiliated with Hyundai Motor Group, plans to showcase 10 strategic technologies during the Oct. 14-18 event, including next-generation electric vehicle (EV) drive systems and battery system assemblies (BSA). Hyundai Mobis said it will operate a booth for pre

October 9, 2024