Korea, Japan hold rare meeting on joint development zone in East China Sea

SEOUL, September 27 (AJP) - Officials from Korea and Japan held a meeting in Tokyo on Friday to discuss the co-development of an underwater continental shelf in the East China Sea for the first time in nearly 40 years. According to sources here, officials from the two countries resumed working-level talks about the decades-old agreement for the joint development zone called the "Block 7," which was signed in 1974. Either side can unilaterally nullify the agreement three ye

September 27, 2024

Woori Bank expands international teller services

SEOUL, September 27 (AJP) - Woori Bank said Friday that it is expanding its teller services for foreign customers by establishing Global Desks at four additional branches and introducing Sunday operations at select locations. International services are now available at its headquarters branch in central Seoul for U.S. and Chinese nationals, at the Gwanghui-dong Financial Center for Mongolian and Russian clients, at the Uijeongbu Financial Center for Thai and Cambodian clients, and a

September 27, 2024

Samsung faces fines over radiation exposure incident

SEOUL, September 27 (AJP) - Samsung Electronics faces fines and a possible prosecution investigation over a radiation exposure accident at its plant in May, which Korea’s nuclear safety regulator has determined was caused by deliberately disabled safety devices. The incident occurred at the tech giant’s Giheung plant in Yongin, south of Seoul, when two employees were repairing an X-ray device used to analyze semiconductor wafer components. Both workers received radia

September 27, 2024

VISUALS: Insa Traditional Culture Festival opens in Seoul

SEOUL, September 27 (AJP) - The 37th Insa Traditional Culture Festival, "2024 Insadong Antique & Art Fair," kicked off Thursday in Seoul's Jongno district with a calligraphy performance and a street parade. Running through Oct. 20, the festival is organized by the Jongno-gu Office and the Insa Traditional Culture Preservation Association Corporation. It features four main events held at the Insa Central Museum and throughout Insadong. A tea and craft fair runs from Sept.

September 27, 2024

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