[CES 2025] At CES, Korean companies embrace AI as future of business

LAS VEGAS, January 8 (AJP) - CES 2025 offered a global stage for South Korea's top conglomerates to spotlight their commitment to artificial intelligence (AI) as a cornerstone of future growth and collaboration. Representatives from Samsung, LG, SK, and LS unveiled their latest innovations, emphasizing the transformative role of AI in their strategies. Chey Tae-won, chairman of SK Group, underscored AI's growing integration into daily life, a concept he termed "phy

January 10, 2025

North Korean commemorative stamps hint at deepening ties with Russia

SEOUL, January 10 (AJP) - As North Korea has been cozying up to Moscow, a strip of commemorative stamps for Lunar New Year's Day now includes descriptions in Russian, alongside Chinese. North Korea on Friday unveiled postal stamps, slated for release on Jan. 20, featuring young North Korean athletes who participated in last year's Under-17 and Under-20 Women's World Cup events, as well as the Asian Table Tennis Championships. "It is uncertain, but such almanac st

January 10, 2025

State-owned bank under investigation for $180 million loan fraud

SEOUL, January 10 (AJP) - The Financial Supervisory Service has launched an investigation into the state-owned Industrial Bank of Korea (IBK) following allegations of illegal loan approvals totaling some 24 billion won (approximately $180 million). The probe, which began earlier this month, comes after IBK disclosed that the loans, approved between June 2022 and November 2024, involved inflated real estate collateral values and improper loan approvals at its branch in Seoul. In

January 10, 2025

US solar EVs will use LG Energy Solution's batteries

SEOUL, January 10 (AJP) - LG Energy Solution announced Friday it will supply cylindrical batteries to U.S.-based solar electric vehicle startup Aptera Motors. Under the agreement, LG Energy Solution, alongside Korean battery pack manufacturer CTNS, will provide 2170 cylindrical batteries to Aptera from 2025 to 2031. The partnership also includes collaboration on producing solar EVs. Aptera's solar EV, also named Aptera, integrates solar panels and battery packs, maximizing

January 10, 2025

Korean e-commerce giants expand beauty business

SEOUL, January 10 (AJP) - South Korea's major e-commerce platforms are intensifying their beauty sector investments, with companies launching private labels and luxury verticals while expanding their brand portfolios. The industry's shift toward beauty reflects the growing demand for K-beauty products. Coupang, the country's largest e-commerce platform, recently introduced its private brand skincare line "Elle Paris" through its subsidiary CPLB, offering 18

January 10, 2025

Presidential security chief questioned over blocking Yoon's arrest

SEOUL, January 10 (AJP) - The head of South Korea's Presidential Security Service underwent police questioning on Friday over allegations that he ordered security officials to block investigators from executing an arrest warrant for impeached President Yoon Suk Yeol. Park Chong-jun, chief of the Presidential Security Service, appeared at the National Office of Investigation (NOI) headquarters in western Seoul in the morning and expressed concern about potential clashes between g

January 10, 2025

4,000 North Korean troops killed or wounded in Ukraine, Zelensky claims

SEOUL, January 10 (AJP) - About 4,000 North Korean soldiers dispatched to Russia to support its war in Ukraine have been "killed and wounded in action," said Ukrainian President Volodymyr Zelensky on Thursday. North Korea holds "no value for people," said Zelensky during a meeting of the Ukraine Defense Contact Group (UDCG), an alliance of 57 counties, also known as the Ramstein group, which includes members of NATO as well as most of the European Union.

January 10, 2025

PHOTOS: Cold snap to linger through weekend

SEOUL, January 10 (AJP) - The mercury has stayed below zero across the country with the cold snap reaching its peak on Friday. According to the Korea Meteorological Administration, the morning low dropped to -12.2 degrees Celsius in Seoul, -11.7 degrees in Incheon, and -12.9 degrees in Daejeon. Temperatures in the mountainous regions of Gangwon Province plunged to -20 degrees or lower. The freezing weather is expected to last throughout the weekend.

January 10, 2025

Lotte Group chairman warns of survival risk, calls for radical reform

SEOUL, January 10 (AJP) - Lotte Group Chairman Shin Dong-bin has issued a stark warning to top executives , declaring the conglomerate faces an "existential threat" and must undergo "strong reform and innovation" to survive. The urgent message came during a meeting at Lotte World Tower on Thursday, attended by key executives including Lotte Department Store CEO Chung Joon-ho and Hotel Lotte Co. CEO Jung Ho-seok. The atmosphere was described as serious as the grou

January 10, 2025

Korea achieves $1 trillion in cumulative overseas construction contracts

SEOUL, January 10 (AJP) - South Korea has achieved a historic milestone in the global construction industry, with its companies securing a cumulative $1 trillion in overseas construction contracts. According to the Ministry of Land, Infrastructure, and Transport, Friday, South Korean firms won $37.11 billion in international contracts in 2024, pushing the total to $1.009 trillion since the country first ventured into overseas construction nearly six decades ago with Hyundai Engine

January 10, 2025