Hanwha wins first U.S. Navy shipbuilding contract SEOUL, October 31 (AJP) - Hanwha Defense USA, a subsidiary of South Korea's Hanwha Aerospace, has secured a $269 million contract to build a landing ship for the U.S. Navy and Marine Corps, marking its first U.S. Navy shipbuilding contract. The company was selected by U.S. maritime services firm TOTE Services to construct one Landing Ship Medium (LSM) at Hanwha Philly Shipyard in Philadelphia, with options to build three additional vessels, according to statements released by October 31, 2026

Seoul, Washington, Tokyo reaffirm North Korea denuclearization goal SEOUL, October 31 (AJP) - South Korea, the United States and Japan reaffirmed their commitment to the complete denuclearization of North Korea and agreed to expand maritime and economic cooperation in the Pacific Arctic during trilateral talks in Atlanta on Friday (local time), amid heightened tensions following Pyongyang's latest ballistic missile launches. South Korean Foreign Minister Cho Hyun met with U.S. Secretary of State Marco Rubio and Japanese Foreign Minister Toshim October 31, 2026

Global firms gather in Seoul for South Korea's largest biotech expo SEOUL, October 30 (AJP) - South Korea's largest biotechnology expo drew companies from some 36 countries this year, as the country sought to strengthen global partnerships in drug development, investment and manufacturing. The expo, dubbed BIOPLUS-INTERPHEX KOREA 2026 (BIX 2026), wrapped up its three-day run at COEX in southern Seoul on Friday, attracting about 12,000 visitors, according to the Korea Biotechnology Industry Organization (Korea BIO) which hosted the event. Arou October 30, 2026

Seoul vows firm response to DMZ mine blast, weighs Hormuz role SEOUL, October 30 (AJP) - South Korea vowed to maintain a firm response to North Korea's land mine explosion in the Demilitarized Zone (DMZ), while considering expanded naval operations to protect shipping through the Strait of Hormuz, the presidential office said Friday. "We will continue taking necessary measures based on clear principles regarding the DMZ mine explosion," Wi Sung-lac, South Korea's national security adviser, said at a presidential office briefin October 30, 2026

Pharmacy platform firm sets IPO price ahead of KOSDAQ debut next month SEOUL, October 30 (AJP) - Pharmacy platform operator Baropharm has set its initial public offering (IPO) price at 16,400 won (US$12.2) per share, putting its valuation at about 200 billion won ahead of its KOSDAQ debut next month. The firm will open its share offering to retail investors on Nov. 2-3, with Mirae Asset Securities acting as the lead underwriter, ahead of its scheduled KOSDAQ listing on Nov. 11. Founded in 2019, Baropharm operates a digital platform that allows pharm October 30, 2026

North Korea slams joint air drills, threatens forceful response SEOUL, October 30 (AJP) - North Korea condemned a joint military exercise between South Korea and the U.S., vowing to respond with force, state media reported on Friday. In a statement carried by the state-run Korean Central News Agency (KCNA), a spokesperson for North Korea's Defense Ministry described the exercise, known as "Freedom Flag," which began earlier this week and runs through next week, as a "provocative" military drill targeting the Nor October 30, 2026

SK hynix deepens Japan chip supply ties after factory speculation SEOUL, October 30 (AJP) - SK hynix has brought together executives from more than 20 Japanese semiconductor suppliers for its first Partners Day in Japan, strengthening supply chain cooperation following earlier speculation about the South Korean chipmaker's potential manufacturing investments in the country. The event, held Thursday in Chiba Prefecture, brought together major Japanese materials, equipment and testing companies, including Shin-Etsu, SUMCO, JSR, Tokyo Electron, October 30, 2026

More South Koreans bet big on US leveraged ETFs despite wild swings SEOUL, October 30 (AJP) - The greater the potential return, the higher the risk. But for South Korean investors seeking quick profits from U.S. chip stocks, that risk may be part of the appeal. South Korean investors have poured more money into U.S. stocks this month than in any other month this year, with two-thirds of their net purchases going into a triple-leveraged semiconductor exchange-traded fund (ETF). The buying frenzy comes despite wild swings in chip stocks, doubts over a October 30, 2026

FMs of South Korea, Indonesia agree to expand cooperation SEOUL, October 30 (AJP) - Foreign Minister Cho Hyun met with his Indonesian counterpart Arrmanatha Nasir in Atlanta, Georgia, the Ministry of Foreign Affairs here said on Friday. Their meeting came on the sidelines of a Group of 20 (G20) Foreign Ministers' Meeting hosted by U.S. Secretary of State Marco Rubio, and it was their first meeting since Nasir assumed his post early this month. During their talks, the two ministers agreed to further strengthen ties following Indo October 30, 2026

Alphabet's heavy AI spending hits chip stocks in Seoul and Tokyo SEOUL, Oct. 30 (AJP) - Wall Street's concerns over Alphabet's heavy spending on artificial intelligence (AI) infrastructure spread to South Korean and Japanese chipmakers that supply the tech giant, sending the KOSPI down 3.5 percent on Friday. In Seoul, the benchmark KOSPI fell 209.62 points or 3.48 percent to close at 5,730.74. The main index dropped as much as 5.7 percent during the session, hitting a low of 5,599.4. The Korea Exchange triggered a five-minute suspens October 30, 2026