SEOUL, Aug. 7 (Korea Bizwire) — BGF Retail, operator of South Korea’s CU convenience stores, announced on Thursday a new accessibility initiative designed to assist visually impaired customers with in-store shopping. In partnership with social venture Tuat, the company has integrated a CU-specific mode into the Android version of Sullivan Plus, an AI-powered visual assistance app [...]
SEOUL, Aug. 6 (Korea Bizwire) — Samsung E&A Co., a plant engineering arm of Samsung Group, said Wednesday it has won a 36 billion-won (US$26 million) order for the initial design and planning of a liquefied natural gas (LNG) project in Indonesia. Under a letter of award, the company will carry out front-end engineering design [...]
SEOUL, Aug. 5 (Korea Bizwire) — Hanwha Group has recorded the largest increase in corporate value among South Korea’s top 10 business groups this year, buoyed by surging stock prices in its defense and shipbuilding affiliates and optimism over its role in U.S.-Korea trade negotiations. According to data compiled from the securities industry and Hanwha Group, [...]
SEOUL, Aug. 4 (Korea Bizwire) – Lotte Chilsung Beverage Co. said Monday its second-quarter net profit rose nearly 32 percent from a year earlier, driven by improved exports of key products. Net profit came to 27.7 billion won (US$20 million) for the April-June period, up 31.6 percent from a year earlier, the company said in [...]
SEOUL, July 25 (Korea Bizwire) — South Korea’s automotive parts sector continues to grow in both scale and profitability, but remains behind global competitors in key performance metrics such as profitability and research investment, according to a new report from the Korea Automotive Technology Institute. The report, released Thursday, analyzed 213 domestic parts manufacturers—including major [...]
SEOUL, July 24 (Korea Bizwire) – South Korean chipmaking giant SK hynix Inc. said Thursday its second-quarter operating profit surpassed 9 trillion won (US$6.53 billion) for the first time, driven by booming demand for artificial intelligence (AI) chips, including high bandwidth memory (HBM). In a regulatory filing, the company reported an operating profit of a [...]
SEOUL, July 24 (Korea Bizwire) — South Korea’s domestic AI industry is demonstrating impressive progress, producing globally recognized models despite limited access to computing infrastructure and top-tier talent. Industry analysts say the recent string of successes strengthens Seoul’s broader goal of becoming a top-three global AI power by developing its own sovereign AI capabilities. According [...]
SEOUL, July 23 (Korea Bizwire) — Samsung Biologics Co. said Wednesday its second-quarter net profit gained slightly on-year, backed by increased production output at its latest facilities. Samsung Biologics’ net profit for the April-June period gained 2 percent on-year to 324.4 billion won (US$235.1 million), the company said in a regulatory filing. Operating profit rose [...]
SEOUL, July 22 (Korea Bizwire) — LG AI Research, the artificial intelligence (AI) lab under South Korea’s LG Group, on Tuesday unveiled its vision to expand the EXAONE AI ecosystem, encompassing every level from foundation models to enterprise-level AI application services. “We will secure global competitiveness based on our proprietary foundation model and apply it [...]
SEOUL, July 22 (Korea Bizwire) — LG Electronics Inc. Chief Executive Officer (CEO) Cho Joo-wan has presented a replica of the company’s first radio to Qualcomm Inc. CEO Cristiano Amon as a symbol of appreciation for the long-standing partnership between the two companies. Amon shared a photo on Tuesday on his LinkedIn account of himself [...]