Golden years blues: Korea's elderly take tough jobs to make ends meet

SEOUL, August 19 (AJU PRESS) - For 30 years, Kim climbed the ranks in the electronics industry, moving from circuit engineer to chip sales manager. Now in his late 50s and early retirement, he works as a taxi driver, spending 10 hours a day behind the wheel — a career turn he never anticipated. “It’s far from easy,” said Kim, who lives in Anyang, south of Seoul. “As a night-shift taxi driver, I often pick up intoxicated passengers, and minor altercation

August 19, 2024

Samsung extends TV market leadership as LG reigns in OLED segment

SEOUL, August 19 (AJU PRESS) - Samsung Electronics and LG Electronics on Monday reported strong performances in the global TV market, each dominating different segments in the first half of 2024. Samsung said that it continued its reign as the overall global TV market leader for the 19th consecutive year, citing data from market research firm Omdia. The company achieved a 28.8 percent market share by value and 18.3 percent by volume. Samsung's success was driven by its n

August 19, 2024

LG Electronics expands investment in AI, deep tech

SEOUL, August 19 (AJU PRESS) - LG Electronics has participated in SBVA's Alpha Intelligence Fund as a major limited partner in a bid to bolster its position in the artificial intelligence and deep tech sectors. On Sunday, the Korean tech giant announced its investment of $10 million in the $130 million fund, which focuses on startups with high growth potential in AI, deep tech, and robotics. The company said it will leverage the investment to stay abreast of innovation trends

August 19, 2024

Korean Air, Air Premia expand U.S.-China interline routes

SEOUL, August 19 (AJU PRESS) - Korean Air and Air Premia have significantly expanded their interline cooperation, adding 12 new routes connecting the United States and China via Incheon, industry insiders said on Monday. The expansion, effective from Aug. 14, includes flights from New York, Los Angeles and San Francisco to various Chinese destinations such as Beijing, Shanghai and Hong Kong. This move increases the total number of interline routes between the two carriers from 13 to

August 19, 2024

Hyundai Rotem secures additional order for double-decker cars in Boston

SEOUL, August 16 (AJU PRESS) - Hyundai Rotem has secured a $175.79 million (240 billion won) contract with the Massachusetts Bay Transportation Authority (MBTA) to supply additional double-decker rail cars, the Korean train manufacturer announced Friday. This project, aimed at addressing growing commuter demand and replacing aging vehicles in Boston, marks Hyundai Rotem's third deal with MBTA, following contracts signed in 2008 and 2019. Deliveries for the previous order are

August 16, 2024

Pulmuone reports record earnings in first half, fueled by food service and distribution

SEOUL, August 16 (AJU PRESS) - Korean food company Pulmuone posted record revenue and profits for the first half of 2024, driven by strong performance in food service and distribution businesses. Revenue increased by 5.2 percent year-on-year to 1.56 trillion won ($1.1 billion) for the first half of this year, the company said in a regulatory filing Wednesday. Operating profit surged 12 percent to 32.5 billion won. For the second quarter, revenue rose by 5 percent year-on-year to

August 16, 2024

Samsung's AI-powered home appliances surpass 1.5 million units in sales this year

SEOUL, August 16 (AJU PRESS) - Samsung Electronics said Friday sales of its AI-powered home appliances have surpassed 1.5 million units from January to July this year. AI-enabled products account for two out of every three appliances sold in Samsung stores over the past three months, according to the company. The data includes 15 types of products, such as TVs, monitors, refrigerators, washing machines, air conditioners and robot vacuums. The company attributes this popularity

August 16, 2024

Moody's upgrades SK hynix's credit outlook

SEOUL, August 14 (AJU PRESS) - International credit rating agency Moody's on Wednesday upgraded SK hynix's outlook from 'Negative' to 'Stable' while maintaining its 'Baa2' corporate credit rating. The agency cited significant improvements in the Korean chipmaker's earnings and cash flow, driven by rising memory prices and the company's competitive edge in AI chip technologies. Moody's expects the positive trend to continue over the next 1

August 14, 2024

Korean battery makers may benefit as EV manufacturers disclose supplier information

SEOUL, August 14 (AJU PRESS) - The Korean government's recommendation for electric vehicle manufacturers to disclose their battery suppliers, following a recent fire incident, is expected to strengthen the position of Korea's top three battery makers, experts said Wednesday. The Korean government announced the measure on Tuesday in response to growing demand for transparency regarding EV batteries, following the August 1 fire in Incheon involving a Mercedes-Benz EV. Th

August 14, 2024

Hyundai Mobis rewards innovation in corporate social value contest

SEOUL, August 14 (AJU PRESS) - Hyundai Mobis Co., a leading Korean auto parts maker, announced Wednesday the successful conclusion of the 2024 Impact Idea Challenge, a competition inviting university students and young job seekers to propose business ideas that create corporate social value. The top award went to a team that proposed a system using sensors to detect vehicle submersion, share location information and assist passengers in escaping. The second prize was awarded to a

August 14, 2024