Business
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CJ CheilJedang to supply Korean dumplings to Qantas Airways
SEOUL, September 24 (AJP) - Korea's leading food manufacturer CJ CheilJedang announced on Tuesday it will provide its Bibigo brand dumplings as in-flight meals for Australia's flag carrier Qantas Airways. The culinary company said it will supply a set of pork and pork-kimchi flavored steamed dumplings to Qantas flights starting in October. The Korean food items will be served on international routes from Australia to destinations including London, Singapore, Manila, Tokyo,
September 24, 2024 -
Morgan Stanley's suspicious SK hynix share sale under scrutiny
SEOUL, September 23 (AJP) - Morgan Stanley has come under scrutiny for suspicious activities related to the sale of a large volume of SK hynix shares just before issuing a sell report. According to financial sources Monday, the Financial Supervisory Service (FSS) is investigating Morgan Stanley for potential violations of capital market laws. The firm executed a sell order for 1,011,719 shares of SK hynix at its Seoul branch on Sept. 13, two days before releasing a report with a
September 23, 2024 -
Korean nuclear power firm signs MOU with Czech hydrogen association
SEOUL, September 23 (AJP) - Korea Hydro & Nuclear Power (KHNP), the country's largest nuclear power plant operator, signed a memorandum of understanding (MOU) with the Czech Hydrogen Technology Platform (HYTEP) on Friday to collaborate on clean hydrogen initiatives in Europe. The agreement, inked during an industry and energy technology cooperation forum in Prague, Czech, aims to strengthen the two organizations' competitiveness in the global clean hydrogen market.
September 23, 2024 -
SK hynix uses Linux for enhanced memory performance
SEOUL, September 23 (AJP) - SK hynix announced Monday the integration of key features from its Heterogeneous Memory Software Development Kit (HMSDK) into Linux, the world’s largest open-source operating system. HMSDK optimizes the performance of Compute Express Link (CXL) memory, a next-generation interface for high-performance computing systems. The company’s software solution enhances bandwidth by 30 percent and improves performance by over 12 percent compared to exi
September 23, 2024 -
Korea's confectionery exports set to hit record high amid global popularity
The members of girl band NewJeans promote a Korean snack in this still from an ad. SEOUL, September 23 (AJP) - Korean snacks are captivating the palates of consumers worldwide amid the soaring global popularity of K-pop. Exports of Korean confectionery totaled US$494.2 million during the first eight months of this year, a 15.4-percent increase compared to the same period of last year, the Ministry of Agriculture, Food and Rural Affairs said on Monday. If this trend continue
September 23, 2024 -
SK On to start EV battery production for Hyundai in Georgia
SEOUL, September 23 (AJP) - Battery maker SK On will begin manufacturing electric vehicle (EV) batteries for Korea’s largest automaker Hyundai Motor at its U.S. plant next month, industry sources said on Sunday. SK Battery America (SKBA), the U.S. subsidiary of SK On, plans to initiate production of EV batteries for Hyundai at its Georgia facility in October. The company has been modifying production lines previously dedicated to U.S.-headquartered Ford Motor to accommodate
September 23, 2024 -
Naver to establish Middle East headquarters in Saudi Arabia
SEOUL, September 23 (AJP) - South Korean tech giant Naver announced plans on Monday to set up its Middle East headquarters in Saudi Arabia by the end of 2024. The company, tentatively named “NAVER Arabia,” will participate in Saudi Arabia’s Regional HQ program, which aims to attract global companies to the kingdom. As part of this expansion, Naver intends to collaborate on large-scale national projects in advanced technology sectors and explore various business o
September 23, 2024 -
LG Chem to supply cathode materials to Toyota-Panasonic JV
SEOUL, September 23 (AJP) - South Korea’s leading chemical company LG Chem announced Sunday it will supply cathode materials used in batteries to Prime Planet Energy & Solutions (PPES), a joint venture between Toyota Motor Corp. and Panasonic Corp. in Japan. The agreement marks LG Chem’s expansion into the Japanese market, with deliveries expected to begin in 2026. PPES, a major battery manufacturer in Japan, supplies electric vehicle batteries to Toyota Motor and
September 23, 2024 -
Korean gov't debt-to-GDP ratio hits record high
SEOUL, September 20 (AJP) – Korea's government debt-to-GDP ratio reached a record high in the first quarter of this year, according to data from the Bank for International Settlements (BIS) updated on Monday. The ratio stood at 45.4 percent at the end of March, marking the first time it has exceeded 45 percent since the BIS began tracking the data in the fourth quarter of 1990. This figure represents a notable increase from 44 percent at the end of 2023. The BIS estimat
September 20, 2024 -
LIG Nex1 signs 3.7 trillion won missile deal with Iraq
SEOUL, September 20 (AJP) – Korean defense firm LIG Nex1 has secured a contract worth about 3.7 trillion won ($2.78 billion) to supply medium-range surface-to-air missiles to Iraq, the company announced on Friday. The deal, signed in Baghdad, on Thursday, involves the export of the domestically developed Cheongung II missile system, capable of intercepting both ballistic missiles and aircraft. Iraq is the third Middle Eastern country to adopt the Korean air defense system,
September 20, 2024
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PHOTOS: National Folk Museum showcases traditional funeral dolls
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PHOTOS: Seoul holds sign language cultural festival
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PHOTOS: KES 2024 opens at COEX, highlighting AI innovations
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BLACKPINK's Jennie makes Billboard Hot 100 debut with latest single
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British Embassy's roundtable meeting raises awareness of climate change
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Workers over 60 become largest employed age group in Korea for first time
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South Korea mulls sending inspectors to Ukraine to monitor North Korean troops in Russia
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U.S. stealth fighter completes maiden landing on Japanese vessel
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5.8 magnitude earthquake strikes Indonesia's Molucca Sea region
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North Korea dismisses allegations of troop deployment to Russia as 'groundless'