BUSINESS Archives - Page 45 of 63

Toyota's Hybrid Dominance Widens Gap with Hyundai in US Sales 2024.05.03 Last month, Japanese car brands, mainly Toyota, experienced strong sales in the U.S. market, while Korean brands like Hyundai and Kia struggled. Toyota’s more electrified products widened the gap with Hyundai as local consumer preference for hybrid cars surged. Toyota recorded double-digit growth for the sixth consecutive month, while Hyundai’s previously steep growth curve showed […]

U.S. Tech Firm Aids in KF-21 Fighter Jet Production 2024.05.03 Korea Aerospace Industries (KAI) is set to receive an aircraft structural diagnostics system from Acellent Technologies Inc., a U.S. company. The aim is to enhance the Korean fighter jet KF-21’s quality competitiveness and accelerate its mass production by the end of the year. According to Acellent, on the 2nd, the company signed a contract with […]

Cutting Off Russia's War Machine: U.S. Bans Uranium Imports 2024.05.03 The United States continues to disrupt Russia, which is at war with Ukraine. On the 1st, the U.S. Senate announced that it had approved a bill banning the import of Russian uranium. The House of Representatives passed the bill last December and unanimously approved by the Senate with no opposition. Uranium is used to supply […]

Amazon's AI Investment Pays Off with Record Profits 2024.05.03 Amazon’s first-quarter results exceeded market expectations. Amazon’s first quarter revenues in 2024 amounted to $143.3 billion, a 12.5% increase from the previous year, surpassing the consensus by 0.5%. Operating profit soared 220.6% to $15.3 billion, beating the consensus by 35.9%. Earnings Per Share (EPS) exceeded expectations by 16.4% at $0.98. The rise in profitability of […]

Tesla's Decision to Shut Down Supercharger Department Sends Shockwaves 2024.05.02 On the 24th of last month, Tesla vehicles were sighted charging at a Supercharger station in Fremont, California. Fremont (USA)/AFP-Yonhap News Tesla faces a wave of reductions, particularly in the battery charging sector, a core part of its electric vehicle business. This move has left the industry in a state of confusion. According to the […]

Apple vs Google: Battle for AI Supremacy Heats Up 2024.05.02 Apple, having a reputation for being late to step into the Artificial Intelligence (AI) industry, has been revealed to be making efforts to strengthen its AI capabilities by actively recruiting AI talents from Google and establishing a secret research lab in Zurich, Switzerland. On the 30th of last month, the Financial Times (FT) reported that […]

Hyundai and Kia's EV Cars Make History in U.S. Market 2024.05.02 For the first time in history, Hyundai Motor has achieved record-breaking eco-friendly vehicle sales in the U.S., surpassing 10,000 units in monthly hybrid (HEV) sales. Kia also broke records by selling over 5,000 units of its electric vehicle (EV) models for the first time. According to the industry on the 2nd, Hyundai’s hybrid sales in […]

Federal Reserve Holds Interest Rates Steady Amid Economic Uncertainty 2024.05.02 The New York stock market showed fluctuating results on May 1st (local time). According to Yonhap News, the Dow Jones Industrial Average closed at 37,903.29 on the New York Stock Exchange (NYSE), up 87.37 points (0.23%) from the previous day. The Standard & Poor’s (S&P) 500 index fell 17.30 points (0.34%) to 5,018.39, while the […]

MicroStrategy Buys More Bitcoin Despite Crypto Turmoil 2024.05.02 MicroStrategy, the big player in Bitcoin, has recently purchased more despite the turmoil in the cryptocurrency market, reinforcing its bullish outlook on Bitcoin. Michael Saylor, the executive chairman of MicroStrategy, announced on the 30th that the company invested $7.8 million this month alone, purchasing an additional 122 units of Bitcoin. With this purchase, MicroStrategy now […]

Elon Musk's China Gamble: Tesla's FSD Launch Sparks Stock Surge and Skepticism 2024.05.02 The automotive industry and investors are focusing on news that U.S. electric car manufacturer Tesla has secured a basis for launching its Full Self-Driving (FSD) software in China. On April 29th, Tesla’s stock price closed at $194.05 per share, a 15.31% increase from the previous trading day. This is the most significant increase since March […]

Microsoft's Next Move: Data Center Launches in Thailand 2024.05.02 Microsoft is set to establish a data center in Thailand. On the first of the month, Microsoft announced it would open its first regional data center in Thailand to enhance the availability of its cloud services. This news came just a day after Satya Nadella, the CEO of Microsoft Corporation, announced a $1.7 billion investment […]

Mexico Rises as the New Manufacturing Powerhouse 2024.05.02 As the Biden administration accelerates the decoupling from the Chinese supply chain, Mexico is rapidly emerging as a new global manufacturing hub to replace China. The manufacturing boom is happening in major cities in Mexico as foreign investments targeting the U.S. market continue, and the value of the Mexican peso is also on the rise. […]

Meta Reveals Median Pay of $379,000, With Half of Employees Earning More 2024.05.01 It has been revealed that half of the employees at Meta Platforms, Inc., the parent company of Facebook, earn salaries exceeding $379,000. Mark Zuckerberg, CEO of Meta Platforms, Inc. / Reuters-Yonhap News According to Business Insider, on the 26th (local time), Meta reported in documents recently submitted to the U.S. Securities and Exchange Commission (SEC) […]

China Welcomes Korean Companies' Investment Expansion: SK Group's Commitment 2024.04.30 According to Xinhua News Agency, a Chinese state-run media, Chey Tae-won, chairman of SK Group, met with He Lifeng, Chinese Vice Premier He Lifeng, on the 29th and promised to continue investing in China. Chey, who also serves as chairman of the Korean Chamber of Commerce and Industry, met with He, who was considered to […]

2024 Homeless World Cup to Take Place in South Korea 2024.04.30 The comprehensive beverage company MyBeer has signed a business agreement with the non-profit organization Big Issue Korea to support the Seoul 2024 Homeless World Cup. The Homeless World Cup is a global festival that unites individuals from around the world who are vulnerable to homelessness. It is an international sports event to foster social innovation, […]

Elon Musk's Secret Trip to Beijing: A Game Changer for Tesla? 2024.04.30 CEO Elon Musk has secretly headed to Beijing. According to Reuters, on the 28th, Elon Musk plans to meet with high-ranking officials in Beijing, China, to discuss the Full Self-Driving (FSD) software launch in the country. He also aims to gain approval to transfer data collected in China to train algorithms necessary for Tesla’s autonomous […]

Delta Plane Drops Emergency Slide, Returns to JFK 2024.04.29 Delta Air Lines Boeing 767 passenger plane made a U-turn in mid-flight when an emergency slide fell off. According to the AP on the 27th (local time), shortly after taking off from New York on Friday, Delta Air Lines passenger plane pilots felt vibrations when an emergency slide fell off, and they turned back to […]

Jaguar Land Rover Tests Range Rover EV in Arctic Chills and Desert Heat 2024.04.29 Jaguar Land Rover (JLR) Korea announced that it is conducting driving tests of the prototype of the Range Rover Electric in the world’s harshest locations. Range Rover Electric, the brand’s first pure electric vehicle, is attracting attention as a model that will lead the way in powerful electric driving performance and a sophisticated and luxurious […]

Hyundai's Big Bet: Chairman Chung Puts India in Focus for Future Growth 2024.04.29 Hyundai Motor Group Chairman Chung Eui Sun visited India, which has emerged as a global economic power, reviewed the local future growth strategy, and communicated directly with employees. Chung revisited India in August 2023 because India’s strategic importance is increasing. India, the world’s largest population, became the world’s 5th largest economy nation in 2023. It […]

EU vs. Russia: Kremlin Stands Firm Against Sanctions on LNG Trade 2024.04.29 Russia has shown the will to overcome the sanctions imposed by the European Union (EU). The Kremlin in Russia announced on the 27th that it would find a way to overcome the illegal sanctions imposed by the EU on the liquefied natural gas (LNG) business. An EU official announced last Thursday that the EU Executive […]

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