LG Energy Solution halts construction of U.S. battery plant

SEOUL, June 28 (AJU PRESS) - LG Energy Solution has temporarily suspended construction of its energy storage system (ESS) battery plant in Arizona, U.S., just two months after breaking ground, according to market insiders on Friday. The decision comes amid a slowdown in electric vehicle (EV) battery demand, prompting the company to adjust its investment pace. The Korean battery maker originally planned to invest 7.2 trillion won ($5.5 billion) to build facilities capable of prod

June 28, 2024

SK hynix develops high-performance SSD for AI PCs

SEOUL, June 28 (AJU PRESS) - SK hynix has unveiled 'PCB01', a high-performance solid-state drive (SSD) designed for on-device AI PCs. The new product features an 8-channel PCIe 5th generation specification, offering industry-leading performance among PC SSDs. The PCB01 boasts sequential read and write speeds of 14GB/s and 12GB/s respectively, capable of running large language models within a second. It also improves power efficiency by over 30 percent compared to previous ge

June 28, 2024

Samsung Electronics to unveil AI strategy at foundry forum

SEOUL, June 28 (AJU PRESS) - Samsung Electronics is expected to unveil key strategies to enhance its artificial intelligence chip business during its annual forums next month. The Korean tech giant said Friday it will hold the Samsung Foundry Forum and the SAFE (Samsung Advanced Foundry Ecosystem) Forum at COEX in southern Seoul on July 9. Choi Si-young, president of Samsung's foundry business, will deliver the keynote speech at the Foundry Forum. The world’s large

June 28, 2024

Dubai's chocolate bar craze reaches Korea

SEOUL, June 28 (AJU PRESS) - Dubai's thick chocolate bar has suddenly become a sough-after dessert in Korea. Young Koreans, who have developed a taste for foreign desserts, are now turning to this Middle Eastern snack. Until May, there were no searches for keywords like "Dubai chocolate" on Google Trends, but they have instantly become one of the most searched keywords since early June. The latest craze comes after the whirlwind frenzy for tanghulu, a Chinese candie

June 28, 2024

Naver-backed Webtoon Entertainment surges 9.5% on Nasdaq debut

SEOUL, June 28 (AJU PRESS) - Shares of Webtoon Entertainment surged 9.5 percent in a powerful debut on the Nasdaq on Thursday, giving the digital comics platform a market value of about $2.92 billion. The Los Angeles, California-based company, backed by Korean internet giant Naver, raised $315 million in its initial public offering by selling 15 million shares at $21 per share, the top end of its proposed range of $18 to $21. The price rose as much as 14 percent in early trading

June 28, 2024

VISUALS: Han River parks transform into outdoor sculpture gallery

SEOUL, June 28 (AJU PRESS) - An outdoor sculpture exhibition is currently underway at Yeouido Hangang Park in Seoul, offering visitors a unique opportunity to experience modern art in harmony with riverside nature and urban landscapes. The exhibition is part of the "Hangang Heung Sculpture Touring Exhibition," organized by the city government from April to November across 10 Han River parks. Crown Haitai Holding runs the exhibition as part of its cultural contribution program aim

June 28, 2024

Opinion: As debate approaches, presidents are blamed for events over which they have little control

SEOUL, June 28 (AJU PRESS) - Presidents are blamed for just about everything – especially during an election season. As the presidential debates of 2024 begin, the blame game is certain to be part of the spectacle. But presidents are not really responsible for as many things as voters, journalists or political opponents try to blame them for. For the first time since 1912, a former president is a party's presumptive nominee, running against the incumbent. Both men –

June 28, 2024

PHOTOS: Korea honors legacy of independence fighter Kim Koo

SEOUL, June 26 (AJU PRESS) - A memorial ceremony marking the 75th anniversary of the death of independence fighter Kim Koo was held in Seoul on Wednesday. Organized by the Association of Commemorative Services for Patriot Kim Koo, the ceremony honored Kim, who devoted his life to Korea's independence during the Japanese colonial period. The event was attended by approximately 300 people including Minister of Patriots and Veterans Affairs Kang Jung-ai, descendants of independence fighte

June 27, 2024

N. Korea, Russia to resume passenger train service next month

SEOUL, June 27 (AJU PRESS) - North Korea and Russia are set to resume passenger train services next month, amid deepening ties between the two countries. At the opening ceremony of an expo in Vladivostok early this week, Oleg Kozhemyako, the governor of Russia’s Primorsky Krai, announced the impending resumption. The development follows a recent summit between Russian President Vladimir Putin and North Korean leader Kim Jong-un in Pyongyang, where they agreed to strengthe

June 27, 2024

Korea to assume chairmanship of Minerals Security Partnership next month

SEOUL, June 27 (AJU PRESS) - Korea will assume the chairmanship of the Minerals Security Partnership (MSP), with Second Vice Foreign Minister Kang In-sun as the chairperson, the Ministry of Foreign Affairs said Thursday. MSP is an international initiative aimed at ensuring a stable and diversified global supply chain for critical minerals essential for sectors such as semiconductors, batteries, and clean energy. Securing stable global supply networks is a crucial task for Korea, a

June 27, 2024