-
2 months ago | 
ajupress.com | Kim Dong-young
SEOUL, February 17 (AJP) - The Korean government on Monday introduced a mandatory certification system for electric vehicle (EV) batteries, a move aimed at strengthening safety regulations following a high-profile battery fire last year.The new policy requires all EV batteries to undergo 12 stringent safety tests, including assessments for thermal ...
-
2 months ago | 
ajupress.com | Kim Dong-young
SEOUL, February 1 (AJP) - President Donald Trump confirmed that the United States is to impose new tariffs on Canada, Mexico and China starting Feb. 1, marking a significant escalation in global trade tensions. The White House announced on Friday tariffs of 25 percent on Mexican and Canadian goods and 10 percent on Chinese imports, affecting trade worth about $1.3 trillion annually.
-
2 months ago | 
ajupress.com | Kim Dong-young
SEOUL, February 1 (AJP) - A fire erupted at South Korea's National Hangeul Museum in Seoul's Yongsan district on Saturday at 8:40 a.m. local time, prompting authorities to deploy about 140 firefighters and 39 pieces of equipment. The blaze, which started on the third floor and spread to the fourth floor of the building, has posed challenges for firefighters due to construction materials blocking access to affected areas.
-
2 months ago | 
ajupress.com | Kim Dong-young
SEOUL, February 1 (AJP) - SK On, South Korea's leading battery manufacturer, completed its merger with SK Enterm on Saturday, finalizing a three-way consolidation that includes SK Trading International (SKTI) announced last July. The merged entity, which will operate under the SK On name, aims to strengthen its raw material procurement capabilities and financial stability in the increasingly competitive global battery market.
-
2 months ago | 
ajupress.com | Kim Dong-young
SEOUL, February 1 (AJP) - South Korea's exports declined 10.3 percent year-on-year to $49.12 billion in January, marking the first decrease in 16 months due to fewer working days caused by the earlier Lunar New Year holiday, the Ministry of Trade, Industry and Energy said on Saturday.
-
Jan 24, 2025 | 
ajupress.com | Kim Dong-young
SEOUL, January 24 (AJP) - Kia Corp. achieved its highest-ever annual revenue and operating profit in 2024, surpassing 100 trillion won ($69.8 billion) in sales for the first time in its history, the company announced Friday. The automaker posted an operating profit of 12.67 trillion won, a 9.1 percent increase from the previous year, while revenue climbed 7.7 percent to 107.45 trillion won.
-
Jan 24, 2025 | 
ajupress.com | Kim Dong-young
SEOUL, January 24 (AJP) - SK hynix is forecast to extend its record-breaking performance into 2025, buoyed by surging demand for artificial intelligence-related semiconductors, analysts said Friday. The South Korean chip giant reported a 12 percent year-on-year increase in fourth-quarter revenue to 19.77 trillion won ($13.8 billion), with operating profit rising 15 percent to 8.08 trillion won, surpassing market expectations.
-
Jan 24, 2025 | 
ajupress.com | Kim Dong-young
SEOUL, January 24 (AJP) - South Korea’s oil refiners are cautiously exploring potential benefits from U.S. President Donald Trump’s aggressive fossil fuel agenda. Trump unveiled his push for fossil fuels after his inauguration on Jan. 20, declaring a national energy emergency and withdrawing the United States from the Paris climate accord.
-
Jan 23, 2025 | 
ajupress.com | Kim Dong-young
SEOUL, January 24 (AJP) - A high-stakes legal battle is looming over the management of Korea Zinc after the company thwarted a hostile takeover attempt by restricting the voting rights of Young Poong at a shareholders’ meeting on Wednesday. The maneuver hinged on a technical article of Korea's commercial law, which nullifies voting rights when a subsidiary of one company owns more than 10 percent of another company that holds a stake in the parent firm.
-
Jan 23, 2025 | 
ajupress.com | Kim Dong-young
SEOUL, January 23 (AJP) - Hyundai Motor reported a 7.8 percent jump in net profit for 2024, fueled by growing global demand for electric vehicles (EVs) and hybrid EVs, according to a regulatory filing on Thursday. The company posted a net profit of 13.22 trillion won ($9.2 billion) last year, up from 12.27 trillion won in 2023. Despite the profit boost, operating income slipped 5.9 percent year-over-year to 14.23 trillion won, while sales soared 7.7 percent to a record 175.23 trillion won.
