Samsung unveils plans to strengthen AI chip production capability

SEOUL, June 13 (AJU PRESS) - Samsung Electronics has unveiled plans to enhance its capability in manufacturing artificial intelligence chips by adopting advanced foundry technology by 2027. Samsung, the world’s largest memory chip maker, is striving to catch up with rivals Taiwan Semiconductor Manufacturing Co. (TSMC) and SK hynix in the fast-growing AI chip market. At the annual Samsung Foundry Forum in San Jose, California, on Wednesday (local time), the company announced

June 13, 2024

Popular Korean instant noodles recalled in Denmark over spiciness concerns

SEOUL, June 13 (AJU PRESS) - Three varieties of Korea's spicy instant noodles have been pulled out from shelves in Denmark this week. The recall affects food retailer Samyang's signature Buldak series - "3x Spicy Hot Chicken Flavor Ramen," "2x Spicy Hot Chicken Flavor Ramen," and "Hot Chicken Flavor Stew Ramen." According to the Danish health authorities, the high levels of capsaicin in a single serving could pose a risk of "acute poisoni

June 13, 2024

PHOTOS: Major food industry show underway in Goyang

SEOUL, June 13 (AJU PRESS) - Seoul Food 2024, the largest food industry trade show in Korea, is underway at KINTEX in Goyang, west of Seoul. Hosted by the Korea Trade Investment Promotion Agency (KOTRA), the 42nd annual fair opened on June 11 for a four-day run. The event features 1,605 companies from 52 countries operating 2,969 booths. Reflecting the popularity of K-food, about 300 overseas buyers are attending the show. National pavilions from 52 countries offer visitors to experience a

June 13, 2024

Opinion: Inflation is cooling, but not fast enough for Fed: Policymakers now expect only one rate cut in 2024

SEOUL, June 13 (AJU PRESS) - It was a double-whammy Wednesday for economic-data enthusiasts. During the morning of June 12, 2024, the Bureau of Labor Statistics published its latest inflation figures. The news was relatively good, showing that inflation rose 3.3 percent in the year to May 2024 – less than some analysts had expected. A few hours later, the Federal Reserve concluded its June meeting by holding interest rates steady – as forecasters expected – and r

June 13, 2024

Opinion: Australia's expanding military importance

KENOSHA, June 12 (AJU PRESS) - Outside Sydney Australia, a major development is unfolding. A nondescript building will house the first factory outside the United States to build the Lockheed Martin Guided Multiple Launch Rocket System, known as GM-LRS. This weapon is proving crucial in Ukraine’s defense. Wider deterrence roles also are promising. Australia is increasingly important in the growing, multifaceted contest with China. This development follo

June 12, 2024

Hyundai E&C, KAERI join hands to commercialize advanced small modular reactors

SEOUL, June 12 (AJU PRESS) - Hyundai E&C signed a memorandum of understanding with the Korea Atomic Energy Research Institute (KAERI) to commercialize the next-generation modular reactors that are said to be smaller and safer than conventional reactors, the Korean construction firm said Wednesday. The two entities will develop sodium-cooled fast reactors (SFRs) that use fast neutrons to generate fission and employ liquid sodium as a coolant. They will additionally collaborate on

June 12, 2024

Ethical consumption takes a hit as inflation squeezes wallets

SEOUL, June 12 (AJU PRESS) - The past decade saw the rise of ethical consumption, with shoppers choosing products that align with their values, be it fair trade coffee, organic produce or environmentally friendly cosmetics. But recent price hikes and economic slowdown have rendered conscious purchasing habits increasingly hard to maintain. "Prices are so high these days, it makes me hesitant to buy shampoos from my regular zero-waste shop," said Kate McDowell, 30, a regula

June 12, 2024

Opposition leader Lee Jae-myung indicted over alleged involvement in money transfer to N. Korea

SEOUL, June 12 (AJU PRESS) - On Wednesday, prosecutors indicted Lee Jae-myung, the leader of the main opposition Democratic Party, on charges of involvement in an unauthorized money transfer to North Korea about five years ago. The former Gyeonggi Province Governor is accused of pressing underwear maker Ssangbangwool Group, through Lee Hwa-young, a former vice Gyeonggi governor, to illegally transfer around $8 million to North Korea between January 2019 and January 2020. In return

June 12, 2024

SK Ecoplant builds rooftop solar power system in Vietnamese industrial complex

SEOUL, June 12 (AJU PRESS) - SK Ecoplant, a Korean energy solution company, has installed a 1-megawatt rooftop solar power facility at a textile plant run by Samil Vina in Viet Nam's southern province of Dong Nai. The company held a ceremony on Monday to mark the completion of the solar power system, which will generate electricity for self-consumption at the plant, eliminating concerns of distribution losses. SK Ecoplant aims to expand its rooftop solar power projects to oth

June 12, 2024

Russian Embassy in Seoul celebrates national holiday

SEOUL, June 12 (AJU PRESS) - The Russian Embassy in Korea held a reception to celebrate Russia Day, the national holiday of the Russian Federation, in central Seoul on Monday. Envoys from various countries, including China, Saudi Arabia, and Indonesia, participated in the event held at the main hall of the embassy. Lawmakers, scholars, and other distinguished guests were also among the attendees. "This national holiday commemorates the path our homeland has tirelessly walk

June 12, 2024