Business
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Korea Zinc rejects hostile takeover bid
SEOUL, September 24 (AJP) - Korea Zinc, a leading global non-ferrous metal refiner, on Tuesday rejected a hostile takeover bid by Young Poong and its partner, private equity firm MBK Partners. In a press conference, Vice Chairman Lee Je-joong labeled the bid as “predatory behavior” and warned that a takeover could lead to the leakage of core technologies abroad, jeopardizing South Korea’s industrial competitiveness. Lee said Korea Zinc’s employees are co
September 24, 2024 -
Lawmaker claims Google's possible tax evasion in Korea
SEOUL, September 24 (AJP) - A recent analysis by Rep. Choi Soo-jin of the People Power Party has raised concerns about Google Korea's potential tax evasion. The lawmaker's study, conducted in collaboration with Professor Jeon Seong-min of Gachon University, suggests the tech giant significantly underreported its revenue and tax obligations in South Korea. According to the analysis, Google Korea's declared revenue for 2023 was a mere 365.3 billion won ($270 million),
September 24, 2024 -
CJ CheilJedang to supply Korean dumplings to Qantas Airways
SEOUL, September 24 (AJP) - Korea's leading food manufacturer CJ CheilJedang announced on Tuesday it will provide its Bibigo brand dumplings as in-flight meals for Australia's flag carrier Qantas Airways. The culinary company said it will supply a set of pork and pork-kimchi flavored steamed dumplings to Qantas flights starting in October. The Korean food items will be served on international routes from Australia to destinations including London, Singapore, Manila, Tokyo,
September 24, 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 -
LG Chem to supply cathode materials to Toyota-Panasonic JV
SEOUL, September 23 (AJP) - South Korea’s leading chemical company LG Chem announced Sunday it will supply cathode materials used in batteries to Prime Planet Energy & Solutions (PPES), a joint venture between Toyota Motor Corp. and Panasonic Corp. in Japan. The agreement marks LG Chem’s expansion into the Japanese market, with deliveries expected to begin in 2026. PPES, a major battery manufacturer in Japan, supplies electric vehicle batteries to Toyota Motor and
September 23, 2024
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Tourist boat sinks off Red Sea coast, 16 missing
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PHOTOS: Shantytown residents protest for housing rights as redevelopment looms
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China unveils plans to combat food waste
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OPINION: BRICS+ countries are determined to trade in their own currencies – but can it work?
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Landslides, floods kill 16, leave 6 missing in Indonesia's Sumatra
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Hyundai, Toyota chiefs meet to discuss hydrogen collaboration
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Opposition leader cleared of perjury charges, but legal battles continue
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Pakistani director wins best director award at Indian film festival
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China plans $193 million support for Myanmar junta
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ATEEZ's latest album debuts at No. 1 on Billboard 200