Samsung expects over 15-fold increase in second-quarter operating profit amid AI boom

SEOUL, July 5 (AJU PRESS) - Samsung Electronics expects its operating profit to have jumped more than 15-fold in the second quarter, driven by surging demand for memory chips amid the artificial intelligence boom. In its preliminary earnings guidance issued on Friday, the Korean tech giant estimated its operating profit increased by 1452.24 percent year-on-year to 10.4 trillion won during the April-June period, while revenue swelled by 23.31 percent to 74 trillion won, both far exce

July 5, 2024

PHOTOS: Seoul International Wine & Spirits Expo Kicks Off at COEX

SEOUL, July 05 (AJU PRESS) - The 2024 Seoul International Wine & Spirits Expo is underway at COEX in Seoul, offering a unique opportunity to taste a wide variety of alcoholic beverages. Launched in 1992, the longest-running liquor industry exhibition in South Korea runs from Thursday to Saturday.

July 5, 2024

SK geo centric produces sustainable synthetic fiber

SEOUL, July 5 (AJU PRESS) - SK geo centric Co. has produced polyester from renewable sources in collaboration with six global petrochemical and textile companies, including Finland's Neste and Thailand's Indorama Ventures, the company said Friday. SK geo centric produced renewable para-xylene (PX), a key component in polyester production, using renewable naphtha supplied by Neste. This marks the company's first venture into creating renewable para-xylene, with enough mat

July 5, 2024

PHOTOS: Stars shine on red carpet at Bucheon International Fantastic Film Festival

SEOUL, July 5 (AJU PRESS) - Stars and filmmakers gathered for the red carpet event of the annual Bucheon International Fantastic Film Festival (BIFAN) on Thursday. The annual festival, now in its 28th year, runs for 11 days until July 14, screening about 255 short and feature films from 49 countries this year. A three-day forum on the sidelines of the festival is also scheduled from Friday to discuss the impact of artificial intelligence on film-making.

July 5, 2024

Samsung SDI close to $1 billion battery deal with NextEra Energy

SEOUL, July 05 (AJU PRESS) - Samsung SDI is reportedly close to securing a 1 trillion won ($725.32 million) contract to provide energy storage system (ESS) batteries to NextEra Energy, America's largest power company. The deal, said to involve 6.3 GWh of batteries, represents 11.5 percent of North America's total ESS capacity last year. The main product for this supply is the Samsung Battery Box (SBB), recently unveiled at InterBattery Europe 2024 in Germany. The SBB is

July 5, 2024

PHOTOS: 12,000 cattle farmers rally in Seoul

SEOUL, July 5 (AJU PRESS) - Approximately 12,000 cattle farmers gathered for a rally in Seoul's commercial district of Yeouido, near the National Assembly, on Wednesday. They voiced their struggles with rising production costs and falling cattle prices, urging the government to improve their conditions. The Hanwoo Association, which organized the massive rally, claimed that many cattle farmers have faced severe difficulties in their livelihoods, suffering losses of over 2.3 million won pe

July 5, 2024

Opinion: New Zealand is moving closer to digital IDs – it's time to rethink how we protect our valuable data

SEOUL, July 05 (AJU PRESS) - New Zealand shifted closer towards digital credentials for access to online services this week with the launch of the Trust Framework Authority. It will determine which organizations are verified to provide digital identity services. The digital ID scheme aims to ease transactions such as opening a bank account or accessing government services by moving identity verification away from physical documents. This has the potential to transform New Zealand

July 5, 2024

Bucheon's annual film fest kicks off with focus on AI

SEOUL, July 4 (AJU PRESS) - The annual Bucheon International Fantastic Film Festival (BIFAN) kicked off its 11-day run with a star-studded red carpet event at a venue, west of Seoul on Thursday. The Asia's largest genre film festival, featuring primarily horror, thriller and sci-fi movies, will showcase about 255 short and feature films from 49 countries this year. With a focus on the rising trend of artificial intelligence, the festival, in its 28th year, exp

July 4, 2024

KAI signs deal with Peruvian firm for joint production of FA-50 parts

SEOUL, July 04 (AJU PRESS) - Korea Aerospace Industries (KAI) has signed a memorandum of understanding with Peru's state-run aviation maintenance company, SEMAN, for the joint production of FA-50 light attack aircraft parts, Korea's sole aircraft maker announced on Thursday. SEMAN, which operates under Peru's Ministry of Defense, is responsible for the maintenance and performance upgrades of aircraft. The agreement followed discussions on industrial cooperation measures

July 4, 2024

Court rejects arrest warrant for driver in deadly car crash in Seoul

SEOUL, July 04 (AJU PRESS) - A court has dismissed an arrest warrant for a 68-year-old driver involved in a deadly car crash that killed nine people and injured seven in central Seoul on Monday night, police said Thursday. The tragic accident occurred around 9:27 p.m. (1227 GMT) at an intersection near City Hall in Seoul. A Genesis luxury sedan, driven by the man identified by his surname Cha, was traveling the wrong way on a one-way, four-lane street. Cha lost control of the car,

July 4, 2024