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Major Korean Conglomerates Sell Core Assets Amid Economic Uncertainty

Major Korean Conglomerates Sell Core Assets Amid Economic Uncertainty

SEOUL, Nov. 21 (Korea Bizwire) – As global economic uncertainties persist, South Korea’s largest conglomerates are intensifying efforts to secure cash reserves, even divesting profitable core businesses and world-leading operations to strengthen their financial positions and fund future investments.  According to industry sources on November 20, major business groups are actively selling profitable subsidiaries and flagship [...]

EU Says T’way Air’s Commitments in Korean Air-Asiana Merger Fulfilled; Final Approval Yet Pending

EU Says T’way Air’s Commitments in Korean Air-Asiana Merger Fulfilled; Final Approval Yet Pending

SEOUL, Nov. 21 (Korea Bizwire) — The European Union has concluded the passenger service-related remedial commitments offered by South Korean flagship carriers Korean Air Co. and Asiana Airlines Inc. for their proposed merger have been fulfilled, according to the EU’s executive body Thursday. Korean Air has divested four European passenger flight routes to low-cost carrier [...]

Teachers Report Dramatic Shift in Workplace Stress Over Past Two Decades, Survey Shows

Teachers Report Dramatic Shift in Workplace Stress Over Past Two Decades, Survey Shows

SEOUL, Nov. 21 (Korea Bizwire) – A new survey has revealed a significant transformation in South Korean teachers’ workplace experiences and perceptions over the past 20 years, with student misconduct and parental complaints now ranking as their primary source of stress, replacing administrative overload as the top concern from two decades ago.  The Korean Education Policy [...]

90% of South Korea’s Top Hospitals Join Government Push for Critical Care Focus

90% of South Korea’s Top Hospitals Join Government Push for Critical Care Focus

SEOUL, Nov. 21 (Korea Bizwire) – In a significant shift for South Korea’s healthcare system, 42 of the nation’s 47 tertiary hospitals have agreed to participate in a government initiative aimed at restructuring their services to focus on severe illnesses and emergency care. The program represents a key component of the government’s healthcare reform agenda, which [...]

LG Chem Signs Deal with Exxon Mobil to Secure 100,000 Tons of Lithium Carbonate

LG Chem Signs Deal with Exxon Mobil to Secure 100,000 Tons of Lithium Carbonate

SEOUL, Nov. 21 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Thursday it has signed an initial agreement with U.S. energy giant Exxon Mobil Corp. to get a supply of up to 100,000 tons of lithium carbonate, a key material for creating cathodes for batteries. Under the memorandum of understanding, Exxon [...]

SK Hynix Begins Production of World’s First 321-layer NAND Flash Memory Chips

SK Hynix Begins Production of World’s First 321-layer NAND Flash Memory Chips

SEOUL, Nov. 21 (Korea Bizwire) — SK hynix Inc. said Thursday it has started mass production of the industry’s first triple-level cell-based 321-layer NAND flash memory chips. NAND flash memory is a non-volatile memory storage medium that is widely used in memory cards, USB drives, solid-state drives (SSDs) and smartphones for general storage and transfer [...]

CJ Cheiljedang to Invest 800 Bln Won to Build New Facilities in Europe, U.S.

CJ Cheiljedang to Invest 800 Bln Won to Build New Facilities in Europe, U.S.

SEOUL, Nov. 21 (Korea Bizwire) – South Korean food giant Cheiljedang Corp. said Thursday it will invest 800 billion won (US$571.3 million) to build new production facilities in Europe and the United States as part of efforts to boost its overseas sales. The company said it will establish a new plant near Budapest, Hungary, in [...]

Samsung Electronics Introduces 2nd-generation AI Model, Gauss 2

Samsung Electronics Introduces 2nd-generation AI Model, Gauss 2

SEOUL, Nov. 21 (Korea Bizwire) — Samsung Electronics Co. on Thursday unveiled the Samsung Gauss2, the second generation of its generative artificial intelligence (AI) model, at an annual tech conference. During a keynote address of the online Samsung Developer Conference Korea 2024, the company highlighted the improved performance, efficiency and various application possibilities of its [...]