Virtual tellers: Shinhan Bank rolls out AI clerks in branches nationwide

SEOUL, July 12 (AJU PRESS) - Shinhan Bank has rolled out artificial intelligence-based clerks capable of interacting with customers at branches across South Korea, the company announced Friday. The virtual tellers were developed by DeepBrain AI, an AI solution company, using deep learning and voice and video synthesis technologies. They appear on digital kiosks and interactive screens in Shinhan branches. Based on footage of five actual Shinhan employees, they are capable of gree

July 12, 2024

Hong Sang-soo's latest movie invited to Locarno Film Festival

SEOUL, July 12 (AJU PRESS) - Director Hong Sang-soo's latest film has been invited to the Locarno Film Festival to be held in Switzerland next month. "By the Stream," also known as "Suyoocheon" in Korean, will compete at the international section of the festival along with 16 other films, the festival's organizers said Thursday. The film is about a university lecturer asking her unemployed uncle to direct a skit. The film is Hong's 32nd feature and

July 12, 2024

Opinion: Implications of China's phenomenal economic reform journey

KARACHI, July 12 (AJU PRESS) - China's 45-year journey of reform and opening-up stands as a testament to its unique economic development strategy. Over these decades, China has not only tackled a continuously fluctuating international economic environment but has also emerged as a pivotal force for global economic stability and growth. After 45 years of transformative reforms, Beijing continues to emphasize that, amidst rising anti-globalization sentiments and protectionism, C

July 12, 2024

Upstage adopts FriendliAI's data management solution for AI translation service

SEOUL, July 12 (AJU PRESS) - Korea's AI startup Upstage has signed a memorandum of understanding with domestic AI platform developer FriendliAI to manage its translation service specializing in Korean and English. Upstage said Friday that its large language model (LLM) solution "Solar" will utilize FriendliAI's graphics processing units (GPUs) management solution to handle translation data and enhance performance efficiency. Solar is a deep-learning platform capabl

July 12, 2024

S. Korea, US reaffirm commitment to deterring N. Korea's nuclear threat

SEOUL, July 12 (AJU PRESS) - South Korean President Yoon Suk Yeol and his U.S. counterpart Joe Biden reaffirmed mutual security cooperation in deterring North Korea's nuclear threat during biliteral talks on the sidelines of the NATO summit in Washington D.C. on Thursday. After the talks, the two leaders signed a set of guidelines for nuclear deterrence and nuclear operations that stipulate that the U.S. will provide a "nuclear umbrella" over the Korean Peninsula, ensu

July 12, 2024

Samsung Electronics invests in U.S. DNA sequencing firm Element Biosciences

SEOUL, July 12 (AJU PRESS) - Samsung Electronics on Friday announced its participation as a strategic investor in U.S. DNA sequencing firm Element Biosciences' recent $277 million Series D funding round. The San Diego-based company founded in 2017 is known for its high-accuracy, cost-effective DNA sequencing technology. Element's flagship product, the mid-sized DNA sequencing machine AVITI, was launched in 2022. The company aims to expand globally and develop new technologie

July 12, 2024

KB Bank to offer mobile banking service to Islamic organization in Indonesia

SEOUL, July 12 (AJU PRESS) - KB Bank Syariah (KBBS), the Indonesian subsidiary of Korea's KB Kookmin Bank, has secured an exclusive deal to provide digital financial services to Muhammadiyah, a major Muslim group in Indonesia. KBBS said Thursday it signed an agreement with PT Surya Finansial Utama, the digital business unit of Muhammadiyah. With the agreement, KBBS will support the digital applications used by affiliated organizations and individual members of Muhammadiyah, a

July 12, 2024

Korea raises minimum wage above 10,000 won for first time

SEOUL, July 12 (AJU PRESS) - South Korea set next year’s minimum wage at 10,030 won ($7.70) per hour on Friday, marking the first time the rate has exceeded the 10,000 won threshold. The Minimum Wage Commission voted 14-9 to approve the 1.7 percent increase after labor representatives walked out in protest. Management had proposed 10,030 won, while labor sought 10,120 won. The modest hike, the second-lowest since 2021, reflects ongoing economic concerns. Based on a 40-hour

July 12, 2024

Opinion: Boeing has a long road ahead to regain public trust

SEOUL, July 12 (AJU PRESS) - If ever there was a need to exemplify the term annus horribilis in the annals of corporate history, 2024 and the Boeing Company would be the perfect match. And the year is not even over yet. The last seven days have seen Boeing face a number of issues. The United States Federal Aviation Administration (FAA) issued an airworthiness directive on July 8 requiring airlines that operate the Boeing 737 Next Generation and the 737 MAX to inspect each aircraft&#

July 12, 2024

PHOTOS: NewJeans named promotional ambassadors to promote tourism to Korea

SEOUL, July 11 (AJU PRESS) - K-pop girl group NewJeans will serve as promotional ambassadors for Korean tourism for this year. At an event held at Grand Hyatt Seoul in the capital on Thursday, the quintet received a plaque from the Ministry of Culture, Sports and Tourism to carry on their role in promoting Korean tourism. They will engage in various promotional activities primarily targeting the young demographic, which constitutes about one-third of Korean tourists. As part of such eff

July 11, 2024