AI, sustainability take center stage at upcoming CES 2025

SEOUL, December 23 (AJP) - The Consumer Electronics Show (CES) 2025, set to open Jan. 7-10 in Las Vegas, will host more than 4,500 companies from 160 countries under the theme "Dive In," focusing on connecting, solving problems, and discovering new possibilities through technology. NVIDIA CEO Jensen Huang will deliver his first keynote in eight years, expected to discuss next-generation AI accelerators and computing technology's impact. Other keynote speakers incl

December 23, 2024

Korea ranks second in office property investment in Asia-Pacific

SEOUL, December 23 (AJP) - South Korea's commercial office property investments have surged 18 percent this year, securing the second position in the Asia-Pacific region after Japan, according to a new market report released on Monday. The report from global real estate consultancy Savills showed South Korea captured 22 percent of the region's office property investments in the first three quarters of 2024, while Japan led with 30 percent market share. China, Australia and I

December 23, 2024

Seoul hospitals see surge in out-of-city patients over past decade

SEOUL, December 22 (AJP) - Over 6.33 million patients from outside Seoul sought medical treatment in the capital's hospitals last year, marking a 27 percent increase from 2013, according to the National Health Insurance Service's annual report. Non-Seoul residents accounted for 41.7 percent of the total 15.2 million patients treated in Seoul medical facilities in 2023, the highest proportion among South Korea's 17 administrative regions. These out-of-city patients genera

December 22, 2024

Fans gear up for 'Squid Game' season 2 with themed pop-ups and global hype

SEOUL, December 22 (AJP) - Fans worldwide are gearing up for the highly anticipated second season of "Squid Game," set to premiere on Netflix on Dec. 26. The record-breaking series, which captivated audiences globally in its first season, is already sparking excitement, with Korean retailers tapping into the frenzy through themed products and pop-up stores. The first season of the Korean drama made history, garnering 2.2 billion views and becoming Netflix's most-watche

December 22, 2024

Monthly 5G data traffic in Korea expected to surpass 1mln TB amid impeachment crisis

SEOUL, December 22 (AJP) - Korea is poised to see its monthly 5G mobile data traffic exceed one million terabytes for the first time, driven by heightened public interest in news related to President Yoon Suk Yeol's impeachment. Many citizens are watching news clips and live broadcasts via social media platforms such as YouTube. A digital media consumption report published by the Korea Press Foundation in 2023 revealed that 53 percent of 2,003 Korean survey participants consume

December 22, 2024

Samsung Electronics secures $4.7 billion in US chip subsidy

SEOUL, December 21 (AJP) - Samsung Electronics has agreed to receive $4.7 billion in direct subsidies from the U.S. government for its semiconductor investment in Taylor, Texas, becoming the latest major chip company to secure funding under U.S. President Joe Biden's CHIPS and Science Act. The subsidy package, announced on Friday by the U.S. Department of Commerce, accounts for 12.7 percent of Samsung's planned U.S. investment of over $37 billion, a higher percentage compare

December 21, 2024

AI emerges as killer app for next-generation smart glasses

SEOUL, December 20 (AJP) - Artificial Intelligence will become the killer application for XR (extended reality) devices, with Google's Gemini AI model expected to be the cornerstone of its upcoming Android XR operating system, according to a Counterpoint Research note published on Friday. Google recently unveiled Android XR alongside Samsung's "Project Moohan" device, set for release next year. The platform will enable real-time translation, schedule management,

December 20, 2024

Samsung subsidy deal in focus as U.S. finalizes chip grant for SK Hynix

SEOUL, December 20 (AJP) - Samsung Electronics' $6.4 billion preliminary subsidy agreement with the U.S. government remains the last major chip deal to be finalized, as the Commerce Department announced a $458 million grant for SK Hynix's $3.87 billion AI memory chip facility in Indiana. Samsung, which plans to invest $45 billion in Texas by 2030, has already completed 98.7 percent of its first fab construction in Taylor, though production start has been delayed to 2026 fr

December 20, 2024

South Korea's self-employed ratio hits historic low of 20%

SEOUL, December 20 (AJP) - South Korea's self-employed workforce has contracted to its lowest level in six decades, a stark reflection of the nation's economic challenges. According to data released by Statistics Korea on Thursday, the number of self-employed workers averaged 5.67 million between January and November 2024, a 24,000 decline from the previous year. This marks a reversal of the two-year growth trend that followed the COVID-19 pandemic. The decline is attribu

December 20, 2024

Lotte Chemical adjusts bond terms to ease liquidity trouble

SEOUL, December 20 (AJP) - The troubled South Korean petrochemical firm Lotte Chemical has successfully negotiated the adjustment of financial covenants on corporate bonds worth 2.04 trillion won (US$1.4 billion) to avoid potential early redemption demands. The adjustment, announced on Thursday, came after the company failed to maintain its EBITDA (earnings before interest, taxes, depreciation, and amortization)-to-interest coverage ratio above the required threshold of 5.0 times, r

December 20, 2024