Business
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LG Electronics launches air solution laboratory in Germany
SEOUL, July 15 (AJU PRESS) - LG Electronics has established a new Air Solution Laboratory in Frankfurt, Germany, expanding its heating, ventilation, and air conditioning (HVAC) research capabilities beyond Korea and the U.S. The 1,000-square-meter facility will develop high-efficiency climate solutions tailored to European conditions, testing residential, commercial and industrial products. The lab will manage the European Consortium for Advanced Heat Pump Research and recruit local
July 15, 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 -
Pinkfong expands 'Bebefinn' franchise with theater, musical debuts
SEOUL, July 11 (AJU PRESS) - The Pinkfong Company, producer of the global children’s animation “Baby Shark,” announced the offline expansion of its “Bebefinn” animation franchise on Thursday. Launched in April 2022, the animated sing-along series depicting the heartwarming adventures of three siblings and their parents, achieved immense success on YouTube and Netflix. Marking the intellectual property's second anniversary, the company is launchin
July 11, 2024 -
HHI qualified to bid for US naval vessel maintenance projects
SEOUL, July 11 (AJU PRESS) - HD Hyundai Heavy Industries (HHI) has become the first Korean company authorized to bid on the U.S. Navy's ship maintenance, repair, and overhaul (MRO) projects. The world’s largest shipbuilder said Thursday it has recently signed a Master Ship Repair Agreement (MSRA) with the U.S. Navy Supply Systems Command. With the agreement, the Korean firm has secured qualification to participate in MRO project bids for support vessels of the U.S. Militar
July 11, 2024 -
SK to host AI, chip talent at annual US forum
SEOUL, July 11 (AJU PRESS) - SK Group of South Korea plans to hold its annual SK Global Forum in San Jose, California, from July 12-14, bringing together talent from the semiconductor and AI sectors to discuss growth strategies and industry trends, SK hynix said Thursday. The chipmaker will jointly host the event, running since 2012, with holding company SK Innovation and telecom carrier SK Telecom. This year's forum expands its invitees to include both professionals and do
July 11, 2024 -
Samsung Electronics unveils new AI-powered Galaxy wearables in Paris
SEOUL, July 11 (AJU PRESS) - Samsung Electronics unveiled three new wearable devices at the Galaxy Unpacked 2024 event in Paris on Tuesday, expanding Galaxy AI capabilities to wearables and offering advanced health monitoring solutions. The lineup includes the Galaxy Ring, Galaxy Watch7 and Galaxy Watch Ultra. The Galaxy Ring, Samsung's smallest wearable, provides 24/7 health tracking with a comfortable design and up to seven-day battery life. It focuses on sleep analysis and
July 11, 2024 -
Geopolitical tensions propel earnings of Korean defense companies
SEOUL, July 11 (AJU PRESS) - Korean defense companies are expected to have more than doubled their operating profits in the second quarter, as exports sharply increased amid global geopolitical tensions and Europe's defense buildup, analysts said. Combined sales of five domestic defense contractors -- Hanwha Aerospace, Poongsan, Hyundai Rotem, Korea Aerospace Industries (KAI), and LIG Nex1 -- are estimated to grow 25.5 percent year-on-year to 6.4 trillion won ($4.6 billion) in t
July 11, 2024 -
Sipping in style: Tumbler craze sweeps Korea with fashion, function, environmental impact
SEOUL, July 11 (AJU PRESS) - From the bustling streets of Seoul to sun-drenched parks and air-conditioned offices, it is increasingly common to see Koreans carrying sleek, colorful tumblers. The newfound popularity of insulated beverage containers is fueling a burgeoning cultural phenomenon, transforming once run-of-the-mill cups into fashion accessories, environmental statements and even status symbols. Yena Park, a Pilates instructor in her 20s, is one of the most fervent aficion
July 11, 2024
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Nvidia CEO Jensen Huang to offer insights at AI forum in Mumbai
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CJ Olive Young expands rapidly growing live-streaming commerce
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OPINION: Canada's tariff strategy on Chinese EVs- A misstep in trade and climate policy
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Korea to raise industrial power rates by 9.7%
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OPINION: North Korea and Russia - Alliance of the weak
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Ex-president Lee Myung-bak's elder brother dies at 89
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Korea's largest robotics show opens with focus on AI
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Hyundai Rotem developing hydrogen-powered tank
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Samsung SDI unveils next-generation mobility batteries at expo
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First batch of North Korean troops 'set to arrive in Russia's Kursk'