Business
-
Analysts predict poor earnings for major Korean game publishers in first quarter
SEOUL, April 23 (AJU PRESS) – Analysts predict lackluster earnings for Korea’s major game publishers in the first quarter of the year amid an economic slowdown and a dearth of hit games, according to data released on Tuesday. According to FnGuide, a securities information service, securities firms predicted that KRAFTON, the publisher of the popular online and mobile game "PlayerUnknown's Battlegrounds" (PUBG), is likely to report an operating profit of 2
April 23, 2024 -
Hyundai Motor, Matrix Renewables sign solar energy deal for EV plant in US
SEOUL, April 22 (AJU PRESS) - Hyundai Motor Group will use solar energy to power its electric vehicle plant currently under construction in Georgia, the Korean conglomerate said Monday. Hyundai has recently signed a 147-megawatt power purchase agreement (PPA) with Matrix Renewables, under which the carmaker will receive electricity generated from the Spanish firm’s 210-megawatt solar power project in Texas, slated to begin operations in October 2025. In the largest renew
April 22, 2024 -
Korean oil refiners harness pyrolysis technology to recycle plastics
SEOUL, April 22 (AJU PRESS) - Major Korean oil refiners are ramping up projects to utilize pyrolysis technology for recycling plastic products as part of efforts to reduce carbon emissions. In the thermal decomposition process, extreme heat and pressure are used to break down plastics into crude oil or raw polymer material. GS Caltex said on Monday it utilizes crude oil extracted through a pyrolysis recycling process to produce petroleum products at its plant located in the sou
April 22, 2024 -
Samsung to implement six-day workweek for executives
SEOUL, April 18 (AJU PRESS) - Amid the sluggish global market, Samsung Group will implement its six-day workweek initiative for its executives. All executive personnel of Samsung's affiliates, except those in financial service units, will be required to work six days. This initiative aims to motivate executive management during crises, particularly considering the underperformance of major affiliates. In 2023, Samsung Electronics reported an operating loss of 15 trillion won (
April 18, 2024 -
LS Eco Energy to supply ultra-high-voltage cables to Danish energy firm
SEOUL, April 17 (AJU PRESS) - LS Eco Energy, a Korean power cable maker, said Wednesday it has signed a contract to supply extra-high voltage cables to a public energy company in Denmark. The $30.51 million deal involves LS Eco Energy providing ultra-high-capacity cables to Energinet for three years. The product is in high demand in Denmark driven by construction projects for offshore wind farms and underground power transmission lines, according to the Korean company. Over
April 17, 2024 -
Hyundai Mobis to demonstrate urban operation of level 4 fully autonomous vehicles
SEOUL, April 16 (AJU PRESS) - Korea's leading car parts manufacturer, Hyundai Mobis, is set to kick-start a demonstration of level 4 fully autonomous vehicles designed to operate without human drivers. The test drive, scheduled for late April, will cover a distance of 60 kilometers (37 miles) along a route in the bustling western port city of Incheon. Distinguished from level 1, 2, and 3 autonomous vehicles, which require human drivers, level 4 self-driving cars can autonomous
April 16, 2024 -
Korean SMEs showcase consumer goods at trade fair in Guangzhou
SEOUL, April 16 (AJU PRESS) - More than a dozen Korean small and medium-sized enterprises (SMEs) are participating in a biannual expo in Guangzhou which began on Monday. The so-called "China Import and Export Fair," is one of the largest business fairs in China. The Korea Trade-Investment Promotion Agency (KOTRA) set up a joint booth for Korean SMEs. Exhibitiors are displaying various consumer goods, including home appliances and electronic products. The biannual t
April 16, 2024 -
Unused spaces being converted into solar power facilities
SEOUL, April 16 (AJU PRESS) - HD Hyundai Energy Solutions, the solar power subsidiary of HD Hyundai, has installed rooftop solar panels on facilities owned by food company CJ CheilJedang. This move comes in response to the growing demand from businesses aiming to achieve carbon neutrality. The energy solutions firm plans to further expand its solar initiatives by utilizing previously unused spaces. Across South Korea, companies are increasingly embracing the use of idle areas like
April 16, 2024 -
LS Materials develops ultra-high voltage regulator system
SEOUL, April 15 (AJU PRESS) - LS Materials, a subsidiary of South Korea's LS Group specializing in ultra-capacitors, has developed a static synchronous compensator (STATCOM), an advanced voltage regulator, for the first time in the nation. The company on Monday announced the localization of the device used to ensure power supply stability by controlling fluctuations in voltage and frequency within large-capacity power grids. Previously, the system had only been produced by Ger
April 15, 2024 -
S. Korean food giant CJ CheilJedang starts kimchi production in Australia
SEOUL, April 15 (AJU PRESS) - CJ CheilJedang has begun producing kimchi in Australia using indigenous ingredients seeking to cater to local consumers' tastes, the South Korean food giant said Monday. Australia is the fifth largest overseas market for Korean-made kimchi, importing $6.01 million worth of the traditional fermented vegetable dish from the Asian country in 2023. CJ CheilJedang, which has supplied Australia with kimchi produced in South Korea, began production th
April 15, 2024
-
PHOTOS: Korean activists rally for LGBTQ rights on key commemoration day
-
Imported electric vehicle registrations surge 150% this year
-
Protecting wetlands crucial for migratory birds: New Zealand envoy
-
Seafood meal kits gain limelight at industry fair as Korean food makers target ready-to-eat market
-
PHOTOS: Seoul Int'l Garden Show underway at Han River park
-
Korean Air Force embraces memes, defying military stereotypes
-
Korean spicy sauces gain global popularity
-
Culture minister advocates for Hangeul signboard at Seoul's iconic gate of royal palace
-
HYBE chairman ranks sixth among Korean business leaders in stock assets
-
More people fall victim to dating violence in Korea