Business
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KHNP to invest in U.S. developer of small reactors
SEOUL, Sept. 6 (AJP) - The state-run Korea Hydro & Nuclear Power (KHNP) plans to invest about $40 million in TerraPower, a U.S. developer of next-generation small modular reactors (SMR). "We recently convened a board meeting and conditionally approved the plan to acquire shares in the U.S. nuclear power SMR developer," a KHNP official told AJP on Friday. She added that the company will proceed with the investment if no significant issues arise with TerraPower. If t
September 6, 2024 -
Korea mandates battery information disclosure for electric vehicles
SEOUL, Sept. 6 (AJP) – The Korean government on Friday announced a comprehensive safety plan for electric vehicles (EVs), which includes the mandatory disclosure of battery information and the early introduction of a battery certification system. The decision was made during a ministerial meeting chaired by Prime Minister Han Duck-soo earlier in the day to address public concerns about EV safety, following a fire involving a Mercedes-Benz sedan in Incheon, west of Seoul, on
September 6, 2024 -
Samsung, LG showcase AI-powered home appliances at IFA
SEOUL, Sept. 6 (AJP) – Korean tech giants Samsung Electronics and LG Electronics are showcasing their cutting-edge, AI-powered appliances at IFA, Europe's largest consumer electronics trade show, in Berlin. The exhibition, celebrating its 100th anniversary, opened Friday for a five-day run. Over 2,000 companies are participating in the event, which highlights AI and connectivity as the driving forces behind the next generation of home appliances. Under the theme “
September 6, 2024 -
Korea posts current account surplus for third consecutive month
SEOUL, Sept. 6 (AJP) - South Korea posted a current account surplus in July for the third consecutive month, driven by strong exports of semiconductors and other goods. The current account surplus for the month was $9.13 billion, the largest for a July since 2015, according to provisional statistics released by the Bank of Korea on Friday. Following a deficit of $290 million in April, the nation recorded surpluses of $8.92 billion in May and $12.56 billion in June. The current
September 6, 2024 -
Cushman & Wakefield bullish on Korea's tech property market
SEOUL, Sept. 5 (AJP) – Cushman & Wakefield, a global real estate firm, is expanding its presence in the fast-growing property services sector for Korea's technology and life sciences industries. The Korean office of the Chicago-based company sees robust potential in these sectors as industrial giants make significant investments in semiconductors and biotechnologies in cities near Seoul. "We are working with a number of Korean chaebols," John Pritchard, he
September 5, 2024 -
LS Cable aims for 10 trillion won in revenue by 2030
SEOUL, Sept. 5 (AJP) - LS Cable & System announced Thursday its goal to reach 10 trillion won ($7.4 billion) in revenue by 2030, focusing on expanding its global market presence. During a press event, the Korean power cable maker unveiled its growth strategies for subsea cables and internet data centers (IDCs), emphasizing reductions in power consumption and operating costs. Despite growing global demand for high-voltage direct-current (HVDC) cables driven by long-distance po
September 5, 2024 -
Korea seeks to cut renewable energy budget, increase nuclear funding
SEOUL, Sept. 5 (AJP) - Korea's government plans to reduce its budget for renewable energy support by about 7.7 percent next year while increasing funding for nuclear power, according to budget proposals submitted to the National Assembly on Thursday. The Ministry of Trade, Industry and Energy's 2025 budget allocates 571.7 billion won ($428 million) for renewable energy support, down from 619.6 billion won in 2024. The budget for nuclear industry programs, including the d
September 5, 2024 -
Samsung unveils new laptop with advanced AI capabilities
SEOUL, Sept. 4 (AJP) - Samsung Electronics has introduced its latest laptop, the Galaxy Book5 Pro 360, featuring Intel's next-generation AI chipset. The device is equipped with the Intel Core Ultra Processor Series 2, supporting up to 47 tera operations per second (TOPS) neural processing unit (NPU) and enhancing AI application compatibility and graphics performance. The laptop integrates with Galaxy smartphones, allowing users to access Galaxy AI features on the PC's la
September 4, 2024 -
Amid declining sales, Audi closes several service centers in Korea
SEOUL, Sept. 4 (AJP) - German luxury automaker Audi is grappling with declining sales in Korea, leading to the closure of several local service centers. Audi's new vehicle registrations in Korea from January to July this year totaled 4,524 units, marking a 59.4 percent decrease compared to the same period last year, according to data from the Korea Automobile Importers & Distributors Association (KAIDA). In July, Audi registered 921 vehicles, placing seventh among importe
September 4, 2024 -
KAI showcases latest fighters, helicopters at Egypt air show
SEOUL, Sept. 4 (AJP) - Korea Aerospace Industries (KAI), one of the country's largest aerospace and defense companies, said on Wednesday it is showcasing aircraft at the Egypt International Air Show (EIAS) in El Alamein, aiming to expand its presence in African and Middle Eastern markets. The three-day event, which opened Tuesday, features about 200 companies from 80 countries displaying approximately 50 military and commercial aircraft. KAI is presenting its FA-50 multi-purpose
September 4, 2024
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PHOTOS: National Folk Museum showcases traditional funeral dolls
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PHOTOS: Seoul holds sign language cultural festival
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PHOTOS: KES 2024 opens at COEX, highlighting AI innovations
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BLACKPINK's Jennie makes Billboard Hot 100 debut with latest single
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British Embassy's roundtable meeting raises awareness of climate change
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Workers over 60 become largest employed age group in Korea for first time
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South Korea mulls sending inspectors to Ukraine to monitor North Korean troops in Russia
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U.S. stealth fighter completes maiden landing on Japanese vessel
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5.8 magnitude earthquake strikes Indonesia's Molucca Sea region
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North Korea dismisses allegations of troop deployment to Russia as 'groundless'