SEOUL, July 15 (AJP) - South Korean artificial intelligence firm Saltlux on Tuesday announced the launch of its AI Work Innovation Center aimed at helping businesses integrate generative AI and AI agents into their operations from concept to deployment. The center is intended to support companies grappling with the challenges of AI adoption by offering a structured, end-to-end consulting and implementation service. Its offerings span strategy development, technology assessment, pr

SEOUL, July 15 (AJP) - South Korea’s low-cost carriers reported disappointing results for the second quarter of 2025, as passenger numbers dipped below last year’s levels despite the start of the summer travel season. Total traffic on budget airlines fell 2.8 percent year-on-year to 17.46 million domestic and international passengers, according to data released by the Ministry of Land, Infrastructure and Transport. The decline comes amid ongoing fare suppression, pe

SEOUL, July 15 (AJP) - Biopharmaceuticals made up 42 percent of new drug launches worldwide between 2020 and 2024, reflecting their growing influence in the pharmaceutical landscape, according to new data released Tuesday by market research firm IQVIA. The share of biological medicines among newly approved active substances has steadily increased over the past two decades — from 28 percent between 2005 and 2009, to 30 percent in the following five years, and to 39 percent be

SEOUL, July 15 (AJP) - South Korea’s nominee for industry minister, Kim Jung-gwan, is pushing for the introduction of production tax credits for semiconductors and battery materials, according to parliamentary documents released Tuesday ahead of his confirmation hearing. Kim, a former senior economic official and most recently an executive at power equipment firm Doosan Enerbility, said the government must adopt “strategic and proactive industrial policies with competi

SEOUL, July 15 (AJP) - South Korea’s largest steelmaker POSCO will supply hydrogen-induced cracking (HIC) resistant steel to Saudi Aramco for its Fadhili gas plant expansion project. The agreement is a strategic win for POSCO and a notable shift in procurement norms for Aramco, the world’s largest oil producer, which has traditionally sourced such critical materials from European manufacturers. The Fadhili expansion, designed to increase the plant’s gas proces

SEOUL, July 14 (AJP) - South Korea’s tax authorities have ramped up enforcement efforts against YouTubers and other online content creators, uncovering widespread tax evasion and imposing billions of won in penalties. According to data submitted to ruling party lawmaker Jung Tae-ho by the National Tax Service (NTS), audits were conducted on 21 YouTubers in 2024 alone, resulting in 8.9 billion won (approximately $6.45 million) in penalties. The intensified scrutiny reflects gro

SEOUL, July 14 (AJP) - LG Electronics will begin the global rollout of its StandbyME 2 portable screen this week. The company plans a phased international launch, starting with Hong Kong and Turkey this week. Additional markets, including the United States, Canada, Vietnam, and Singapore, will follow in July, with the United Kingdom, Germany, France, and Spain scheduled for August. The StandbyME 2, a second-generation upgrade of LG’s portable screen lineup, recorded stron

SEOUL, July 14 (AJP) - South Korea’s steelmakers endured another punishing quarter as a persistent global supply glut collided with a sharp escalation in U.S. tariffs. Steel exports from South Korea fell 5.9 percent year-on-year to $15.63 billion in the first half of 2025, according to the Ministry of Trade, Industry and Energy. The downturn accelerated in May and June — dropping 12.4 percent and 8.0 percent respectively — as the full effects of the Trump administr

SEOUL, July 14 (AJP) - Samsung Electronics has begun external shipments of its newest image sensor, the Isocell JNP, to Chinese smartphone maker Xiaomi, marking a key step in the firm's effort to challenge Sony’s long-standing dominance in the global image sensor market. The Isocell JNP, which features Samsung’s industry-first nanoprismatic technology, has been integrated into Xiaomi’s new CIVI 5 PRO smartphone, the company’s latest flagship equipped with