RSQUARE to transform shopping mall into mixed-use office space in Seoul

SEOUL, September 09 (AJP) - RSQUARE, a commercial real estate firm, said Monday it has been selected to carry out a project to transform a large-scale shopping mall in eastern Seoul into office space. The building, which houses Enter 6 - Park Avenue Hanyang University, was purchased by GRE Partners Asset Management for 112.1 billion won ($83.5 million) and will be repurposed from a shopping mall to office space and redeveloped into a mixed-use complex. RSQUARE was selected as th

September 9, 2024

Samsung, LG unveil AI home appliance ambitions at IFA

SEOUL, September 09 (AJP) - Samsung Electronics and LG Electronics presented their artificial intelligence home appliance strategies at IFA 2024 in Berlin, Germany, focusing on building smart home ecosystems powered by artificial intelligence. LG Electronics introduced its AI agent FURON and AI home hub ThinQ ON at IFA, Europe's largest consumer electronics trade show, which opened Friday for a five-day run. "Customers only need to communicate with generative AI as they

September 9, 2024

Samsung SDI unveils new battery solutions at U.S. energy expo

SEOUL, September 9 (AJP) - Samsung SDI is showcasing its latest energy storage system (ESS) battery solutions at Renewable Energy Plus 2024, North America's largest renewable energy exhibition, which opened in Anaheim, U.S., on Monday for a four-day run. The Korean battery maker introduced its Samsung Battery Box (SBB) 1.5, a containerized ESS solution featuring improved energy density and an enhanced fire suppression system. The new model boasts a 37 percent increase in energy

September 9, 2024

Musinsa hosts beauty festival in Seoul's Seongsu District

SEOUL, Sept. 6 (AJP) - Musinsa, a popular online fashion platform in South Korea, kicked off its first offline beauty event Friday in Seoul's Seongsu district and Seoul Forest area. The three-day Musinsa Beauty Festa In Seongsu showcases 41 rising beauty brands, with about 80 percent being small and medium-sized companies. The main pop-up space, called the Total Zone, is located in the Iron Building near Ttukseom Station, featuring 26 brands covering skincare, makeup and fra

September 6, 2024

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