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Schneider Electric to Modernize and Automate Serbia’s Entire MV Electrical Distribution Network

Schneider Electric, the leader in the digital transformation of energy management and automation, has signed a contract to supply medium voltage (MV) equipment and grid management software to upgrade Serbia’s electrical distribution network. This country-wide, grid modernization project aims to improve network reliability, reducing power outages and their duration. Serbia seeks to improve electricity reliability [...]

3-yr Imprisonment Finalized for Man for Leaking Samsung’s Edge Panel Technology to China

SEOUL, July 13 (Korea Bizwire) — The top court finalized a three-year prison term for a former head of a mid-size technology firm Thursday for leaking Samsung Display Co.’s edge panel technology to Chinese companies in 2018. The edge panel technology, also known as 3D lamination technology, is used for making curved screen edges for [...]

Google Sees Big Opportunities for Future of AI in Korea

SEOUL, July 13 (Korea Bizwire) — U.S. tech giant Google has seen great potential for artificial intelligence (AI) technologies in South Korea, as it has chosen Korean as its priority service language besides English for its AI-based chatbot, Bard, a senior company official said Thursday. “With Bard launched in Korean in 2023, this is one [...]

Nongshim Aims to Triple U.S. Sales by 2030 to Top Instant Noodle Market

SEOUL, July 13 (Korea Bizwire) — South Korea’s top instant noodle maker, Nongshim Co., said Thursday it aims to triple its sales in the United States by 2030 to top the U.S. instant noodle market. “Nongshim will boost annual sales to US$1.5 billion, threefold of the current level, by 2030 and top the U.S. ramyeon [...]

Top Steelmaker POSCO Aims for Sales of 100 tln Won by 2030

SEOUL, July 13 (Korea Bizwire) — South Korea’s steelmaking giant POSCO Holdings Inc. said Thursday it is aiming to achieve combined sales of 100 trillion won (US$78.4 billion) by boosting the competitiveness of its core steel business and focusing on future growth sectors. Unveiling its long-term growth vision at its headquarters in the southeastern port [...]

KG Mobility Launches Torres SUV in Europe

SEOUL, July 13 (Korea Bizwire) — KG Mobility, formerly known as SsangYong Motor Co., said Thursday it has launched the Torres sport utility vehicle in Europe as part of its expansion strategy. KG Mobility began to sell the compact SUV in Europe, starting with its launch in Poland this week, the company said in a [...]

Listed Firms’ Market Cap Gains 18.7 pct in H1

SEOUL, July 13 (Korea Bizwire) – The market value of listed firms in South Korea jumped nearly 19 percent in the first half of 2023 amid a bullish stock market, with Samsung Electronics Co. retaining its top-cap status, a corporate tracker said Thursday. The market capitalization of 2,599 companies listed on the country’s main and [...]

S. Korean Retailers on High Alert as WHO Considers Aspartame Carcinogen

SEOUL, July 13 (Korea Bizwire) — South Korea’s retail industry is on alert with anticipation of the World Health Organization (WHO) designating aspartame as a carcinogen. Discount retailer Emart Inc. plans to replace the current artificial sweetener used in its five varieties of No Brand zero-calorie cola and sparkling ade, as well as its six [...]

Over Half of S. Koreans Plan to Travel Despite Financial Constraints: Survey

SEOUL, July 13 (Korea Bizwire) — More than half of South Koreans intend to travel despite financial limitations, a travel fare website said Wednesday. Skyscanner conducted a survey of 1,000 Koreans over the age of 18, 54 percent of whom expressed the intention to travel even with financial constraints. Among the respondents, 61 percent stated [...]

Jamsu Bridge Walking Festival Attracts 970,000 Citizens

SEOUL, July 13 (Korea Bizwire) — The Seoul Metropolitan Government announced on Wednesday that a total of 970,000 citizens participated in the Carless Jamsu Bridge Walking Festival in the first half of this year. The Jamsu Bridge festival took place nine times between May 7 and July 9. Among the various programs, the most popular [...]