Foreign ownership of LG Electronics soars on charge into AI markets

SEOUL, May 30 (AJU PRESS) - Foreign ownership of LG Electronics has exceeded 31 percent for the first time in two years and eight months with the Korean conglomerate expanding into artificial intelligence markets. As of Tuesday, foreign holdings in LG Electronics stood at 31.18 percent, according to Korean financial information provider FnGuide. Foreign investors made net purchases of about 200 billion won ($146.4 million) in May alone. Institutional investors also net purchased m

May 30, 2024

Non-alcoholic options now available at restaurants and bars in Korea

SEOUL, May 29 (AJU PRESS) - Restaurants and bars are now able to sell no- and low-alcohol beverages, such as non-alcoholic beer or non-alcoholic wine, following the recent amendment to Korea's relevant law took effect on Tuesday. Previously, wholesalers were banned from supplying restaurants with premade or mass-produced beverages containing less than one percent alcohol. Non-drinkers, attending corporate drinking parties or other events, had to consume something else like w

May 29, 2024

Chinese-lettered Gwanghwamun signboard harms national pride, Hangeul campaigners say

SEOUL, May 29 (AJU PRESS) - A group of scholars and activists demanded Wednesday the government replace the Chinese-lettered signboard of Gwanghwamun, a landmark gate in central Seoul, with one written in the Korean alphabet, Hangeul, citing concerns about national pride and cultural identity. About 20 advocates of Hangeul held a news conference in front of the main gate of Gyeongbokgung Palace, organized by the Korean Language Society and other Hangeul-related institutions.

May 29, 2024

Samsung Electronics union calls first-ever strike

SEOUL, May 29 (AJU PRESS) - Unionized workers at Samsung Electronics on Wednesday declared the first-ever strike in the company’s 55-year history. The National Samsung Electronics Union, representing 22 percent of employees, announced a one-day walkout on June 7 to press their demand for wage hikes. “We declare a strike in the face of management's disregard for workers,” the union said at a news conference after wage negotiations fell apart the previous da

May 29, 2024

Opinion: Pronatalism is latest Silicon Valley trend. What is it – and why is it disturbing?

SEOUL, May 29 (AJU PRESS) - For Malcolm and Simone Collins, declining birth rates across many developed countries are an existential threat. The solution is to have "tons of kids," and to use a hyperrational, data-driven approach to guide everything from genetic selection to baby names and day-to-day parenting. They don't heat their Pennsylvania home in winter, because heating is a "pointless indulgence." Their children wear iPads around their necks. And a

May 29, 2024

Late-night 'misleading' emergency public alert confuses some people in Korea

SEOUL, May 29 (AJU PRESS) - Late on Tuesday night, an emergency government text message startled residents in provinces neighboring the Demilitarized Zone (DMZ), particularly foreign nationals with the English phrase of "air raid preliminary warning." The message was sent to residents in about a dozen areas in Gyeonggi Province at 11:34 p.m. (1434 GMT), and to those in two counties -- Yanggu and Inje – in Gangwon Province around midnight. While the Korean text m

May 29, 2024

Pulmuone, ABB Robotics strike partnership for cell-based seafood production

SEOUL, May 29 (AJU PRESS) - Korean food company Pulmuone has signed a memorandum of understanding with Switzerland's ABB Robotics to collaborate in developing technologies for alternative seafood. The company said Wednesday it will utilize ABB's robotic technology to automate the cultivation process for cell-based seafood products such as fish fillets. Pulmuone aims to establish a mass production system by 2026. Pulmuone said the partnership will be the world

May 29, 2024

Lotte to hike chocolate prices amid surging cocoa costs

SEOUL, May 29 (AJU PRESS) - Lotte Wellfood, Korea's top chocolate maker, plans to raise the prices of 17 products by 12 percent next month to cover surging global cocoa costs. Cocoa prices have nearly doubled since the start of 2024 due to poor harvests in West Africa, which accounts for 60 percent of the world supply. Lotte initially planned to raise chocolate prices on May 1 but postponed the hike by a month at the government's request to help stabilize consumer price

May 29, 2024

Opinion: Fears that English is 'disappearing' in England are misplaced – history shows the island has always been multilingual

SEOUL, May 29 (AJU PRESS) - A common lament among those opposed to immigration is that "in many parts of England, you don't hear English spoken any more." But it has never been the case that English was the only language spoken on this island. Old English, the earliest ancestor of the modern English language, was a relative newcomer to Britain. Its speakers, the Anglo-Saxons, came from different regions across what is now northern Germany to an island where many Celt

May 29, 2024

HD Hyundai Oilbank's biofuels receive international certifications

SEOUL, May 28 (AJU PRESS) - HD Hyundai Oilbank said Tuesday its biofuel production technology was accredited with the International Sustainability & Carbon Certifications (ISCC), global standards for recycled and bio-based materials. The Korean refiner affiliated with HD Hyundai Heavy Industries has produced eco-friendly materials including sustainable aviation fuel (SAF) and bio naphtha using a co-processing method that utilizes both petroleum-based feedstocks and bio-based fee

May 28, 2024