LG Electronics expands EV charging business in partnership with Seoul City

SEOUL, July 30 (AJU PRESS) - LG Electronics signed a memorandum of understanding (MOU) with Seoul City on Tuesday to expand electric vehicle charging infrastructure and develop more user-friendly charging solutions. Under the agreement, LG will supply various charging solutions, including both fast and slow chargers, to meet diverse needs. The company plans to install over 50 rapid chargers in public spaces across Seoul by 2026. Additionally, LG will introduce at least 10 robot

July 30, 2024

Qoo10 chief's excessive expansion blamed for financial troubles of Korean e-commerce platforms

SEOUL, July 30 (AJU PRESS) - The CEO of Singapore-based e-commerce company Qoo10 is facing intense scrutiny in Korea as its two local platforms, Tmon and WeMakePrice, are grappling with a payment delay crisis attributed to his aggressive business expansion strategy. The Justice Ministry banned Qoo10 CEO Ku Young-bae from leaving the country on Monday as part of criminal investigations into Ku and the chief executives of its local subsidiaries. The probes were prompted by a complaint

July 30, 2024

Smilegate's indie platform ventures into game publishing

SEOUL, July 29 (AJU PRESS) - Stove Indie, the indie game platform of Korean game developer Smilegate, announced its entry into the game publishing business on Monday. The platform unveiled two titles that will spearhead its publishing efforts: “Love Too Easily 2” by Monster Guide Co. and “IfSunSets” by Polymorph Studios. This move allows Stove Indie to directly support the distribution and marketing of promising indie games, while Smilegate gains a diverse

July 29, 2024

NICE upgrades Taihan Cable's credit rating to 'A' with stable outlook

SEOUL, July 29 (AJU PRESS) - NICE Investors Service, a Korean credit rating agency, upgraded the rating for Taihan Cable & Solution from "A-" to "A" with a stable outlook, the power cable maker announced on Friday. NICE revised the rating from "A-" in 2022, citing Taihan Cable's business stability from a diverse product range, consistent revenue growth, stable operating profitability and significantly improved financial stability. The rating

July 29, 2024

E-commerce mogul faces criminal probe over payment crisis

SEOUL, July 29 (AJU PRESS) — The CEO of Singapore-based e-commerce company Qoo10 is facing a criminal investigation in Seoul in connection with a growing payment delay crisis affecting its two Korean subsidiaries, Tmon and WeMakePrice. A group of affected consumers has filed a complaint against Qoo10 CEO Ku Young-bae, as well as the CEOs and chief financial officers of the two troubled e-commerce sites, on charges of fraud, embezzlement and breach of trust. Since early July

July 29, 2024

Nature Republic to launch at 200 Costco stores in US

SEOUL, July 29 (AJU PRESS) – Nature Republic, a South Korean cosmetics company, is set to expand to 200 Costco locations in the United States as part of its efforts to ramp up its presence in overseas markets. The company is introducing three key products to Costco: the Ginseng Gold Silk Watery Cream, Black Bean Anti-Hair Loss Symptom Improvement Shampoo and Argan Essential Deep Care Shampoo. The premium anti-aging Ginseng Gold Silk line, which contains 99.9 percent pure go

July 29, 2024

Samsung broadcasts Olympic opening ceremony with Galaxy smartphones

SEOUL, July 29 (AJU PRESS) – Samsung Electronics broadcast the opening ceremony of the 2024 Paris Olympics on Friday using its Galaxy S24 Ultra smartphones. In a historic first, the ceremony took place outdoors, with the athletes' parade held on boats along the Seine River. The Korean tech giant equipped over 200 Galaxy S24 Ultra devices on 85 parade boats to capture and broadcast the event live. The company collaborated with the International Olympic Committee (IOC) an

July 29, 2024

HD Hyundai Electric builds transformer storage facility at US plant

SEOUL, July 29 (AJU PRESS) - Korea's HD Hyundai Electric has constructed a transformer storage facility at its plant in Alabama, U.S. The firm, affiliated with HD Hyundai Heavy Industries, held a ceremony on Friday (local time) to mark the completion of the facility, which covers an area of 12,690 square meters and can store up to 60 power transformers. "We have enhanced the storage environment and quality levels of our products while maximizing productivity through the

July 29, 2024

From lovebugs to nutrias: Korea grapples with growing threat of alien species

SEOUL, July 26 (AJU PRESS) – On a sweltering summer afternoon, residents of Seoul’s Eupyeong district sought refuge in the shade of a tree. Unbeknownst to them, their respite was shared by an unwanted nuisance: tiny, buzzing critters called lovebugs. The 12-legged insects fly around in pairs while mating. Known to prefer white over black, they latch onto brightly colored clothing. Attracted to exhaust fumes, they often dive into vehicles, causing car corrosion. &ldquo

July 26, 2024

Amid e-commerce settlement dispute, Tmon begins refunds after customers occupy office

SEOUL, July 26 (AJU PRESS) - Tmon, an e-commerce platform caught in a settlement delay controversy, began processing refunds early Friday morning, following protests by hundreds of disgruntled customers who had occupied its headquarters in southern Seoul. Tmon and sister company WeMakePrice have been delaying payments to sellers since early July, prompting businesses to withdraw from the sites. Customers are requesting cash refunds since payment gateway agencies began to suspend

July 26, 2024