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

International forum to explore vision for free, unified Korea

SEOUL, September 26 (AJP) - The International Forum on One Korea 2024 will kick off on Friday for a three-day run at the Fairmont Ambassador Seoul in southwestern Seoul, exploring the vision and pathway toward a free and unified Korea. The event, co-hosted by Global Peace Foundation, Action for Korea United and One Korea Foundation, will bring together prominent experts, policymakers, journalists and civil society leaders from Korea, and the international community. The particip

September 26, 2024

Samsung unveils high-performance solid state drive

SEOUL, September 26 (AJP) - Samsung Electronics has launched the 990 EVO Plus, a high-performance consumer solid state drive (SSD) based on PCIe (peripheral component interconnect express) 4.0 technology. This new product features 8th generation V-NAND (Vertical NAND) and a 5nm controller, delivering industry-leading performance and power efficiency. The 990 EVO Plus boasts sequential read and write speeds of up to 7,250MB/s and 6,300MB/s respectively, marking a 45 percent and 50 pe

September 26, 2024

Techtree Innovation signs partnership with Bahrain's Aeromap for spatial digital twin tech

SEOUL, September 26 (AJP) – Korean spatial digital platform developer Techtree Innovation has partnered with Bahrain-based mapping solutions provider Aeromap Technology Systems for joint studies aimed at enhancing their technological competitiveness, the companies announced on Thursday. The collaboration aims to improve aerial and ground data collection, photogrammetry and geographic information system (GIS) implementation for both companies, according to the companies. Tec

September 26, 2024

Korean businessman rescued from kidnappers in Peru

SEOUL, September 26 (AJP) - A Korean businessman who was kidnapped in Peru has been safely rescued the following day, the Ministry of Foreign Affairs said on Thursday. The man in his 60s, whose name was not disclosed, was kidnapped on Tuesday in Lima shortly after meeting with an acquaintance. His family immediately contacted police after an unknown man answered his cell phone when an employee from his company tried to reach him. Peruvian police said the kidnappers, who had de

September 26, 2024

Brazilian Embassy celebrates 65th anniversary of diplomatic ties with Korea

SEOUL, September 26 (AJP) - The Brazilian Embassy in Seoul held a reception Wednesday to celebrate 65 years of diplomatic relations with South Korea and Brazil's 202nd independence anniversary. During the event at a hotel in central Seoul, Brazilian Ambassador Marcia Donner Abreu expressed gratitude for the continued support that has strengthened Brazil-Korea relations. "Despite the geographical distance and having cultures and societies so strikingly different from each

September 26, 2024

SK hynix begins mass production of 12-layer HBM3E chips

SEOUL, September 26 (AJP) - SK hynix announced Thursday that it has started mass production of the world's first 12-layer HBM (High Bandwidth Memory) 3E chips. The 36GB chip, designed for artificial intelligence chipsets, features DRAMs that are 40 percent thinner than previous versions, increasing capacity by 50 percent while maintaining the same overall thickness, according to the world's second-largest memory chip maker. Operating at 9.6 gigabits per second, a single g

September 26, 2024