Taihan Cable wins first U.S. HVDC contract

SEOUL, September 19 (AJP) - Korea's major power cable manufacturer Taihan Cable & Solution said on Thursday it secured its first high-voltage direct current (HVDC) project in the United States. The company has been selected to supply cables for a 320kV voltage-sourced converter HVDC and 500kV high-voltage alternating current (HVAC) project in California. The contract, awarded by U.S. power company LS Power Grid California, is valued at about 90 billion won ($67 million).

September 19, 2024

GS Caltex exports commercial-scale bio aviation fuel to Japan

SEOUL, September 19 (AJP) — GS Caltex has exported sustainable aviation fuel (SAF) to Japan, the Korean oil company said Thursday. The company supplied about 5,000 kiloliters of CORSIA SAF, blended with conventional aviation fuel, to Narita Airport in Japan last Friday through Itochu Corp. It marked the first commercial-scale sale of CORSIA SAF by a Korean refiner, certified by the International Civil Aviation Organization (ICAO). The fuel will be sold to Japanese airlines

September 19, 2024

Samsung launching AI-based washer-dryer in Peru, Argentina

SEOUL, September 19 (AJP) — Samsung Electronics said Thursday it is launching its AI-powered Bespoke AI Combo washer-dryer in Peru, Argentina and other Latin American markets this month. At the forefront of Samsung's AI home appliance strategy, the all-in-one washer-dryer allows users to wash and dry clothes without needing to transfer them between machines. It features a high-efficiency inverter heat pump system and offers drying performance comparable to standalone dryer

September 19, 2024

USFK nominee warns of North Korean missile threats

SEOUL, September 19 (AJP) - North Korea's rapidly advancing nuclear and missile programs are the most urgent challenging tasks for the post to lead the U.S. Forces Korea (USFK), said a nominee during his confirmation hearing. Lieutenant General Xavier T. Brunson, who is poised to assume the triple-hatted position also overseeing the Combined Forces Command (CFC) and United Nations Command (UNC), if confirmed, stressed the need to strengthen defense against North Korea's grow

September 19, 2024

India's expanding medical device market presents opportunities for global companies

SEOUL, September 19 (AJP) - India's medical device market is rapidly expanding, presenting prime opportunities for Korean companies to establish a foothold, a recent report said. The Korea Trade-Investment Promotion Agency (KOTRA) recently cited a report from the Indian Ministry of Health and Family Welfare, revealing that the Indian medical device market is currently valued at around $12.5 billion and has been growing at an annual rate of over 15 percent since 2018. This gro

September 19, 2024

UN reports Myanmar junta killed 5,350 civilians since 2021 coup

SEOUL, September 19 (AJP) - The United Nations Office of the High Commissioner for Human Rights (OHCHR) has released a report stating that Myanmar's military junta has killed 5,350 civilians since the February 2021 coup. The report, based on interviews with victims and witnesses, also reveals that approximately 27,400 civilians have been arrested during this period. OHCHR spokesperson Liz Throssell disclosed that at least 1,853 people, including 88 children and 125 women, have d

September 19, 2024

Indonesia cuts interest rates for first time since February 2021

SEOUL, September 19 (AJP) - Bank Indonesia (BI) has reduced its benchmark interest rate from 6.25 percent to 6 percent, marking the first rate cut since February 2021. This decision, announced on Wednesday, surprised financial markets as most economists had predicted a rate hold ahead of the U.S. Federal Reserve's policy meeting. BI Governor Perry Warjiyo cited stable inflation within the target range, a strengthening rupiah, and the need to boost economic growth as reasons for

September 19, 2024

U.S. panel allows Nippon Steel to resubmit U.S. Steel buyout review

SEOUL, September 19 (AJP) - The Committee on Foreign Investment in the United States (CFIUS) has permitted Japan's largest steelmaker Nippon Steel Corp. to withdraw and resubmit its application for review of its proposed $14.1 billion acquisition of United States Steel Corp., Kyodo News reported on Wednesday. This development suggests that the Biden administration will not be able to block the deal, with a decision likely to come after the November U.S. presidential election. Th

September 19, 2024

Virtual artist nævis' debut single surpasses 1.3 million views on YouTube

SEOUL, September 19 (AJP) - The music video for AI-powered virtual artist nævis' debut song has garnered over 1.3 million views on YouTube just nine days after its release, SM Entertainment said. The video for the English single, "Done," released on Sept. 10, had accumulated over 1,342,500 views on YouTube as of Thursday. It shows nævis, SM's first virtual artist, performing alongside four human backup dancers. In her debut track, nævis embarks

September 19, 2024

North Korea boasts about test-launch of new tactical ballistic missile

SEOUL, September 19 (AJP) - North Korea successfully test-fired a new tactical ballistic missile capable of carrying a large warhead, its state-run Korean Central News Agency (KCNA) reported on Thursday. According to the KCNA, the newly-tested missile, equipped with a 4.5 ton warhead, was fired alongside a strategic cruise missile. The test aimed to assess "the accuracy of the missiles at a medium range of 320 kilometers and the explosive power of the super-large warhead."

September 19, 2024