Israeli air strikes kill at least 492 people in Lebanon

SEOUL, September 24 (AJP) - Israeli air strikes in Lebanon have killed at least 492 people, making it the deadliest day of conflict in the region in nearly two decades, according to Lebanon's health ministry. The strikes targeted 1,300 Hezbollah positions, aiming to destroy infrastructure built since the 2006 war. Thousands of civilians fled as Hezbollah retaliated by launching over 200 rockets into northern Israel, injuring two. Global leaders are urging restraint, with UN S

September 24, 2024

Citigroup faces hurdles in China expansion due to US regulatory issues

SEOUL, September 24 (AJP) - Citigroup's efforts to establish a standalone securities firm in China have encountered obstacles, according to a Bloomberg report on Monday. The U.S. Federal Reserve's recent penalties on Citigroup for data management and risk control issues have complicated the bank's expansion plans in China. Chinese regulations require foreign banks to be free of major regulatory fines for three years before establishing onshore operations. However, Citigr

September 24, 2024

OPINION: A weakened Hezbollah is being goaded into all-out conflict with Israel – the consequences would be devastating for all

SEOUL, September 24 (AJP) - For almost a year, Israel and Hezbollah have engaged in increasingly provocative cross-border skirmishes as onlookers warn that this escalating war of attrition could land the region in all-out conflict. The past few days have made that devastating scenario closer to a reality. First came Israel's pager and walkie-talkie attack, an unprecedented assault on Hezbollah's communications that injured thousands of the organization's operatives. It w

September 24, 2024

Korea, US strengthen space alliance

SEOUL, September 23 (AJP) - The Korea Aerospace Administration (KASA) will strengthen its space alliance with the U.S. National Aeronautics and Space Administration (NASA). KASA chief Yoon Young-bin signed a joint statement with NASA Administrator Bill Nelson for cooperation in space and aerospace activities at NASA headquarters in Washington, D.C., according to the Korean space agency, Monday. This agreement follows the commitment made in April when the presidents of Korea and

September 23, 2024

Morgan Stanley's suspicious SK hynix share sale under scrutiny

SEOUL, September 23 (AJP) - Morgan Stanley has come under scrutiny for suspicious activities related to the sale of a large volume of SK hynix shares just before issuing a sell report. According to financial sources Monday, the Financial Supervisory Service (FSS) is investigating Morgan Stanley for potential violations of capital market laws. The firm executed a sell order for 1,011,719 shares of SK hynix at its Seoul branch on Sept. 13, two days before releasing a report with a

September 23, 2024

Korean nuclear power firm signs MOU with Czech hydrogen association

SEOUL, September 23 (AJP) - Korea Hydro & Nuclear Power (KHNP), the country's largest nuclear power plant operator, signed a memorandum of understanding (MOU) with the Czech Hydrogen Technology Platform (HYTEP) on Friday to collaborate on clean hydrogen initiatives in Europe. The agreement, inked during an industry and energy technology cooperation forum in Prague, Czech, aims to strengthen the two organizations' competitiveness in the global clean hydrogen market.

September 23, 2024

SK hynix uses Linux for enhanced memory performance

SEOUL, September 23 (AJP) - SK hynix announced Monday the integration of key features from its Heterogeneous Memory Software Development Kit (HMSDK) into Linux, the world’s largest open-source operating system. HMSDK optimizes the performance of Compute Express Link (CXL) memory, a next-generation interface for high-performance computing systems. The company’s software solution enhances bandwidth by 30 percent and improves performance by over 12 percent compared to exi

September 23, 2024

Korea's confectionery exports set to hit record high amid global popularity

The members of girl band NewJeans promote a Korean snack in this still from an ad. SEOUL, September 23 (AJP) - Korean snacks are captivating the palates of consumers worldwide amid the soaring global popularity of K-pop. Exports of Korean confectionery totaled US$494.2 million during the first eight months of this year, a 15.4-percent increase compared to the same period of last year, the Ministry of Agriculture, Food and Rural Affairs said on Monday. If this trend continue

September 23, 2024

SK On to start EV battery production for Hyundai in Georgia

SEOUL, September 23 (AJP) - Battery maker SK On will begin manufacturing electric vehicle (EV) batteries for Korea’s largest automaker Hyundai Motor at its U.S. plant next month, industry sources said on Sunday. SK Battery America (SKBA), the U.S. subsidiary of SK On, plans to initiate production of EV batteries for Hyundai at its Georgia facility in October. The company has been modifying production lines previously dedicated to U.S.-headquartered Ford Motor to accommodate

September 23, 2024

Naver to establish Middle East headquarters in Saudi Arabia

SEOUL, September 23 (AJP) - South Korean tech giant Naver announced plans on Monday to set up its Middle East headquarters in Saudi Arabia by the end of 2024. The company, tentatively named “NAVER Arabia,” will participate in Saudi Arabia’s Regional HQ program, which aims to attract global companies to the kingdom. As part of this expansion, Naver intends to collaborate on large-scale national projects in advanced technology sectors and explore various business o

September 23, 2024