Category: 3. Business

  • Samsung Hosts a Traveling Hangeul Art Experience Across Leading U.S. Universities – Samsung Global Newsroom

    Samsung Hosts a Traveling Hangeul Art Experience Across Leading U.S. Universities – Samsung Global Newsroom

    In commemoration of Hangeul Day and the 80th anniversary of Korea’s liberation, Samsung partnered with the Korean Cultural Center New York (KCCNY) to launch a public art initiative aimed at promoting the beauty of Hangeul, the Korean alphabet. A mobile Hangeul Truck served as the centerpiece of the experience, merging cutting-edge Galaxy AI technology with the creative vision of Korean-born installation artist, Ik-Joong Kang.

     

     

     

    Traveling Artwork

    The Hangeul Truck transformed a classic Airstream trailer into a vibrant work of art. Wrapped in Kang’s signature Hangeul Cubes, the truck became a traveling exhibition, making stops at six major universities in the United States this fall. Each stop offered visitors the opportunity to immerse themselves in the cultural and artistic spirit of Hangeul while experiencing Samsung’s latest AI-powered innovations.

     

     

     

    Co-creating With Galaxy AI

    At the heart of the Hangeul Truck experience was a message station where students and visitors could type personal reflections or write notes to their future selves. Galaxy AI instantly translated these words into Korean and the messages were then displayed on a central LED screen, transforming individual voices into a piece of living artwork. By weaving personal expression into the artistry of Hangeul, participants co-created a shared cultural canvas that bridged languages, ideas and generations.

     

     

     

     

    Self-Expression, Creativity and Discovery in the Spirit of Hangeul

    In addition to engaging with the interactive message wall, guests were invited to explore a series of playful experiences inspired by Korean culture and Galaxy innovation. A selfie kiosk designed with artist Ik-Joong Kang offered creative frames for photos, while erasable Hangeul tattoos allowed visitors to take a piece of the experience with them.

     

     

     

    “The Hangeul Truck is where the past meets the present — where Hangeul, created by King Sejong centuries ago, now breathes with the dreams of today’s young generation,” said Kang. “What made this project meaningful was its openness — art not confined to an exhibition hall, but moving freely through various cities and campuses.”

     

     

    The Hangeul Truck tour ran from late September through early October, concluding on Hangeul Day (October 9) with a celebration hosted at Times Square in New York City. By uniting art, culture and AI-powered innovation, Samsung and KCCNY gave a new generation the opportunity to discover the timeless beauty of Hangeul. It also showed how technology can help connect us all.

     

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  • German product demand stable, Rhine supply tightens

    German product demand stable, Rhine supply tightens

    News

    10/10/25


    Challenging fossil fuel talks continue ahead of Cop 30

    Challenging fossil fuel talks continue ahead of Cop 30

    Cop host Brazil embodies the nuances of depending on fossil fuels while shifting
    to cleaner energy, writes Caroline Varin Edinburgh, 10 October (Argus) — Talks
    about phasing out fossil fuels have gained momentum since the UN Cop 28 summit
    in 2023, but translating pledges into policy remains difficult — especially for
    economies reliant on oil and gas revenues. Nearly 200 countries agreed to a call
    “to transition away from fossil fuels in energy systems, in a just, orderly and
    equitable manner” by 2050 at Cop 28 in Dubai almost two years ago. The climate
    summit was not the only forum at which countries agreed to do so. Similar
    agreements were taken at G7 level and last year in the form of a UN pact by
    heads of states and governments . Brazil’s Cop 30 director Ana Toni urges
    parties to accelerate implementation. “A central element of this transition is
    ensuring the availability of affordable and reliable low-carbon energy sources
    to gradually and securely replace fossil fuels,” she told Argus. The discussions
    are taking place. Beyond Oil and Gas Alliance (Boga) head of secretariat Sian
    Bradley has recorded a clear shift since the Cop 28 call. “There is no
    high-level political space where this is not raised as a topic, and that was not
    the world we were in pre-Cop 28,” she told Argus. Boga, an international
    alliance launched at Cop 26 in Glasgow, spearheaded by Denmark and Costa Rica,
    is working to facilitate a managed phase-out of oil and gas production. The
    initiative works alongside oil producers to understand their priorities and runs
    a $20mn fund to assist developed countries in transition planning. So far, it is
    supporting five countries — Nigeria, Brazil, Kenya, Colombia and Barbados. The
    fund also seeks to support developing countries looking to reflect the Dubai
    agreement in their nationally determined contributions (NDCs). Despite the
    increase in visibility, the transition away from fossil fuels faces resistance
    in the form of softening commitments, pressure from the US — the second-largest
    greenhouse gas emitter, the largest consumer of oil, and which has left the
    Paris agreement — and oil and gas firms’ strategy shifts . Last year in Baku, at
    a Cop 29 that was dominated by difficult climate finance negotiations, parties
    failed to agree on how to advance the implementation of the global stocktake
    (GST), which features the call to transition away from fossil fuels. Fossil
    fuels did not get a mention in the final unapproved draft of the discussions’
    conclusions, although the draft did reaffirm the role of transitional fuels —
    most likely natural gas — in the energy transition. Recently, a report led by
    the Stockholm Environment Institute found that planned oil production is 31pc
    above levels consistent with a 1.5°C pathway in 2030, and 260pc above by 2050.
    For gas, production plans are 92pc above a level consistent with 1.5°C and 230pc
    higher by 2050. The Paris agreement aims to keep the global rise in temperature
    to “well below” 2°C above pre-industrial levels, while pursuing efforts to limit
    warming to 1.5°C. Transition cramp Discussions are becoming more nuanced,
    according to Boga’s Bradley. “Major oil and gas producers are not going to be
    standing on a stage announcing they have halted licensing yet, but they are
    asking questions behind closed doors,” she says. For Cop 30’s Toni, consumer
    countries’ hesitancy in coming forward with plans stems “from the fear of being
    left without reliable energy”, while producers question moving ahead while
    global demand remains high, especially when these resources are vital to finance
    their economies and social priorities. “Brazil itself reflects this dual
    reality,” Toni acknowledges. “We are a global leader in clean energy — with
    nearly 90pc of our electricity and 45pc of our energy coming from renewables —
    and in sustainable fuels. At the same time, we remain an oil producer. That is
    the reality of a world in transition.” Strategies for how the transition will
    unfold are still lagging, Toni says. “The economic dimensions of the transition,
    including improving transparency on fossil fuel subsidies, need to be addressed
    to move forward, while protecting energy affordability and broader economic
    stability,” she says. The fossil fuel discussions are not going away at Cop,
    non-profit WRI’s director of international climate action, David Waskow, told
    Argus , but the question of economic diversification — which is coming up in
    various negotiation tracks, including the Just Transition Work Programme — must
    be given more attention. This is an issue that Boga has worked on in the years
    since its creation. The organisation has been running closed-door dialogues and
    forums, with “most of the major oil and gas producers” and consumers, the IMF
    and IEA, to work out what the transition means for long-term policy planning,
    Bradley says. Writing on the wall “We have been asked to work with the group on
    developing illustrative pathways to guide the transition, depending on costs of
    production and other country factors,” Bradley says. Global net zero scenarios,
    such as the IEA’s, exist, but some producers lack country-level pathways to
    understand the timeframe for their transition, and whether they will be
    producing in 15-20 years. “The writing is increasingly on the wall for the
    higher-cost and the more vulnerable oil and gas producers, and they know that
    they have to begin engaging with this issue in a meaningful way through their
    energy and finance ministries,” she says. “The discussion is taking root in a
    much more structural way.” The GST, an exercise to assess progress under the
    Paris agreement, is also meant to inform new NDCs — the climate plans out to
    2035 that countries are due to submit by Cop 30. “We are encouraged that over
    100 parties, representing two-thirds of global emissions, have already submitted
    their new NDCs or announced they would do so — and the majority of them have
    pledges related to energy transition,” Cop 30’s Toni said. But major oil and gas
    producers that have submitted plans, apart from the UK, are not yet talking
    about the transition away from fossil fuels from a production point of view,
    only from an emissions reduction perspective. Some fossil fuel producers that
    are part of the G20 group — including India, Saudi Arabia, Indonesia and South
    Africa — have yet to release new plans. Producers that think they will be in the
    oil and gas market for longer will be slower to come forward, Bradley says. But
    she points to notable shifts. Nigeria, while saying it will continue to develop
    resources, recognises “the economic dilemma of the transition”, with fossil
    fuels leaving the economy “highly vulnerable to price shocks and climate risks”.
    It also talks about stranded assets and the need to protect workers and expand
    non-oil sectors. Having this in the NDC of a major oil producer in the last
    round of climate plans would have been unthinkable, she says. Fossil fuel talks
    could also receive a boost at Cop 30 in the so-called action agenda. The
    Brazilian Cop 30 presidency decided to use the Dubai conclusions as the spine of
    its summit’s action agenda, and leverage existing initiatives — many including
    governments — to bolster implementation. Each item under the GST will have its
    own discussion group, and although it is not yet clear what the outcome of this
    process may be, the action agenda has been positively received. “There has never
    been a structured space for the transition away from fossil fuel in the action
    agenda,” Bradley says. Boga is also part of the fossil fuel action group. “We
    have now a presidency setting out the agenda and saying that [the transition
    away from fossil fuels] is a fundamental part of the UNFCCC process.” Oil
    production forecast scenarios wpa p3 legend.pdf Send comments and request more
    information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All
    rights reserved.

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  • Airlines face $11 billion supply chain hit in 2025, IATA says

    Airlines face $11 billion supply chain hit in 2025, IATA says

    By Tim Hepher and Joanna Plucinska

    PARIS/LONDON (Reuters) -Global airlines face more than $11 billion in extra costs from supply chain disruption this year, a leading industry group said on Monday, in a report likely to rekindle debate over competition in the $250-billion aerospace industry.

    The study by the International Air Transport Association, produced with consultants Oliver Wyman, marks the first attempt to quantify the impact of a five-year supply chain crisis that has driven up fares and led to flight cancellations.

    IATA Director General Willie Walsh said he was surprised by the extent of the findings and told Reuters there may be grounds to revisit whether airlines are being subjected to anti-competitive practices by suppliers, after dropping a previous complaint in 2018.

    “Even if you halve the number, it’s still a massive drag on the industry,” Walsh said in an interview.

    REPORT DETAILS COST OF BOTTLENECKS

    Researchers found the largest impact stems from $4.2 billion in extra fuel as airlines keep older planes in service.

    Additional maintenance is expected to cost $3.1 billion, while leasing engines to replace those stuck in queues for maintenance adds another $2.6 billion.

    Holding more spare parts to cushion delays is projected to cost airlines $1.4 billion.

    Planemakers and their suppliers have waded through a mire of setbacks, from shortages of labour, materials and parts to mounting delays at repair shops, particularly for engines.

    There is also a growing tug of war with the defence industry for capacity as governments increase military spending.

    “There’s now going to be continuing competition for the limited supply that is there,” Walsh said, adding that supply chains would be an issue for the rest of the decade.

    He questioned the influence suppliers exert over parts pricing and called for “additional competition in the aftermarket, which clearly has seen significant consolidation.”

    PROFIT GAP

    IATA has previously called for greater competition in maintenance, including improved access to independent parts known as PMA.

    In 2016, it filed a complaint with the European Union against CFM International but withdrew it two years later after the engine maker agreed to maintain an open and competitive market.

    A similar agreement was reached with Rolls-Royce in 2021.

    Walsh said there were no plans to launch any new challenge, but did not rule it out.

    “We have been evaluating it, but we’d have to do a lot more work,” he said, noting that airlines have confidential agreements, so digging deeper involves teams of lawyers.

    “It’s a complex piece of work, but I think there could be merit in us looking at that again.”

    He pointed to the gap between airline operating margins, forecast at 6.7% this year, and margins of some engine makers and suppliers in the mid-20s as a source of concern.

    “How is it that they can make such massive margins from an industry that makes margins that are wafer-thin? It just doesn’t add up,” Walsh said.

    Engine makers argue they are entitled to adequate returns given the risks involved in developing new technologies and offering insurance-style contracts to cover repair costs.

    Airlines are expected to spend $120 billion on repair and maintenance this year, rising to $150 billion by 2030, IATA said.

    Walsh softened his tone towards Airbus and Boeing, saying they were becoming more transparent about jet delays. In June, he accused planemakers of “failing badly”.

    (Reporting by Tim Hepher, Editing by Louise Heavens)

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  • Electra Selects Evolito to Supply Electric Engines for the EL9 Ultra Short Hybrid-Electric Aircraft

    Electra Selects Evolito to Supply Electric Engines for the EL9 Ultra Short Hybrid-Electric Aircraft