Samsung to unveil extended reality platform by year-end

SEOUL, November 19 (AJP) - Samsung Electronics plans to unveil its Extended Reality (XR) platform by the end of this year, with a potential device launch in the third quarter of 2024, industry sources said on Tuesday. TM Roh, head of Samsung's Mobile Experience (MX) division, announced at the Galaxy Z Fold6 and Flip6 Unpacked event in Paris last July that the company would "create the ecosystem first before launching the device," suggesting the platform will focus on

November 19, 2024

CJ CheilJedang will work with Morgan Stanley to sell bio division: reports

SEOUL, November 19 (AJP) - South Korea's leading food manufacturer CJ CheilJedang has selected Morgan Stanley as the lead manager to sell its bio business division, according to media reports. The sale, reported by the Investment Bank on Monday, could fetch several trillion won with the proceeds expected to be used for future mergers and acquisitions to strengthen the company's global food business operations. The move comes as part of CJ CheilJedang's broader strat

November 19, 2024

Lotte Group plagued by rumors of liquidity problem

SEOUL, November 19 (AJP) - Lotte Group's major listed subsidiaries saw their stock prices stabilize one day after a sharp decline, triggered by rumors of a liquidity crisis. On Nov. 16, two YouTube channels posted videos about Lotte Group's supposed crisis, with rumors claiming the company would declare a moratorium and lay off 50 percent or more of employees in its retail subsidiaries next month. These rumors led to a sell-off of Lotte Group's stocks, with Lotte G

November 19, 2024

Japan, Britain to establish economic security dialogue

SEOUL, November 19 (AJP) - Japan and Britain have agreed to create a new ministerial-level framework focused on economic security and trade, marking Tokyo's second such arrangement following a similar agreement with the United States, officials announced on Monday. The agreement, reached during talks between Japanese Prime Minister Shigeru Ishiba and British Prime Minister Keir Starmer at the G20 summit in Rio de Janeiro, will bring together economic and foreign ministers from

November 19, 2024

Thailand's 'monkey city' grapples with mass escape of 200 primates from shelter

SEOUL, November 19 (AJP) - About 200 monkeys escaped from an aging enclosure at an animal shelter in Thailand's Lopburi province on Saturday night, raiding homes and a police station, forcing officers to quickly shut all doors and windows, according to news reports. Reports on Monday said around 60 monkeys have been recaptured so far, including 40 that returned to a nearby temple offering fresh fruits and vegetables. City authorities are repairing the damaged shelter and setting

November 19, 2024

Runners to take over Dubai for annual event this weekend

SEOUL, November 19 (AJP) - The annual Dubai Run will take over Sheikh Zayed Road this Sunday, offering 5-km and 10-km routes past some of the city's most iconic landmarks, including the Burj Khalifa, Dubai Opera, and Museum of the Future. As the final event of the Dubai Fitness Challenge, the run aims to promote an active lifestyle among residents and visitors. The 5-km route ends near Dubai Mall, while the 10-km route crosses Dubai Canal Bridge and concludes near DIFC Gate.

November 19, 2024

Hyodol's caregiver robot selected into state-run startup procurement platform

SEOUL, November 19 (AJP) - An artificial intelligence-powered companion robot developed by Hyodol has been selected as a supplier on a state-run platform dedicated to supporting innovative products from startups, the Korean robot maker said Tuesday. The platform, called Venture Nara, is operated by South Korea's Public Procurement Service to help startups and venture businesses. Products with excellent technology and quality are evaluated and designated as innovative startup p

November 19, 2024

Israeli airstrike hits central Beirut amid escalating conflict

SEOUL, November 19 (AJP) - Israeli airstrikes targeted a neighborhood in the heart of Lebanon's capital late Monday evening, slamming into an area near the Parliament, several embassies and the UN headquarters. Lebanon's Health Ministry said at least five people were killed and 31 wounded. Since late September, Israel has dramatically escalated its bombardment of Lebanon, vowing to cripple the militant group Hezbollah and end its barrages into Israel. Over the past year, mor

November 19, 2024

OPINION: After 1,000 days of Ukraine war, Europe must prepare for Trump-brokered peace deal by asserting its own interests

SEOUL, November 19 (AJP) - Since Donald Trump was reelected on Nov. 5, speculation about what his presidency will mean for the war in Ukraine, which has now entered its 1,000th day, has become frenzied. It is easy to be skeptical of Trump's campaign assertion that he would end the war in 24 hours even before taking office in January 2025. But all the signs clearly point in the direction of a serious diplomatic push by Trump to force Moscow and Kyiv to agree on a ceasefire and po

November 19, 2024

BOJ governor hints at further rate hike amid inflation concerns

SEOUL, November 19 (AJP) - The Bank of Japan (BOJ) is considering additional interest rate increases to combat inflation risks and ensure sustainable economic growth, as market speculation grows over a potential December rate hike. "I think that gradually adjusting the degree of accommodation in line with the improvement in economic activity and prices will support long-term economic growth," BOJ Governor Kazuo Ueda said in a speech on Monday to business leaders in Nagoy

November 19, 2024