SEOUL, March 14 (AJP) - International gold prices breached the threshold of $3,000 per troy ounce on Friday, propelled by escalating trade tensions and investor anxiety stemming from the policies of the Trump administration. April gold futures on the New York Mercantile Exchange reached $3,000.5 per troy ounce as of 10:30 a.m. on Friday, a 0.31 percent increase from the previous session. Spot gold, meanwhile, had climbed 2.73 percent in the preceding five trading days, closing at $2

SEOUL, March 14 (AJP) - South Korean banks posted a record net profit of 22.4 trillion won ($16.5 billion) in 2024, a 5.5 percent increase from the previous year, according to data released on Friday by the Financial Supervisory Service (FSS). The regulator attributed the profit surge to a 3.1 trillion won reduction in loan-loss provisions, which offset expanded operating losses, including 1.4 trillion won in compensation costs tied to equity-linked securities. Interest income ros

Editor's Note: This is the second in a series of stories examining how the Trump administration’s economic policies affect South Korea's key industries. From trade restrictions to shifting global supply chains, we explore the challenges businesses faced, how they adapted, and the lasting effects on the country’s economy. SEOUL, March 12 (AJP) - South Korean automakers are navigating a precarious juncture as President Donald Trump’s aggressive "friend-s

SEOUL, March 13 (AJP) - HD Hyundai Heavy Industries, a subsidiary of HD Hyundai, has signed an agreement with TerraPower, a U.S.-based small modular reactor (SMR) company, to enhance the manufacturing supply chain for sodium-cooled reactors, the company announced on Thursday. The signing ceremony was attended by Chung Ki-sun, vice chairman of HD Hyundai; Won Kwang-sik, head of HD Hyundai Heavy Industries’ Ocean Energy Business Division; Bill Gates, founder of TerraPower; and

Editor's Note: This article is the 10th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, March 13 (AJP) - South Korean telecommunications company KT Corp. has undergone a remarkable transformation from a state-owned telephone company into a diversified digital platform player. As it expands across Asia and beyond, KT is navigating an increasingly co

SEOUL, March 13 (AJP) - Homeplus is extending its discount promotions until the end of the month, a move widely seen as an effort to counter deteriorating asset efficiency and mounting liquidity pressures under the private equity ownership of MBK Partners. The retailer’s fixed asset turnover ratio dropped to 0.96 as of Feb. 29, 2024, falling below the critical 1.0 threshold, according to industry sources citing the latest sales results. The figure indicates that Homeplus is st

SEOUL, March 13 (AJP) - The demand for small and medium-sized vehicles in South Korea is expected to climb as women and elderly drivers account for a growing share of the nation’s auto market, according to a report released Thursday by the Korea Automotive Research Institute. The report, titled “Population and Social Structure Changes and the Domestic Automobile Market,” highlights a significant shift in vehicle ownership patterns over the past decade. Between

SEOUL, March 13 (AJP) - South Koreans are devoting significantly more time to short-form video platforms than to traditional streaming services, according to newly released data, underscoring a shift in media consumption habits. A report by market research firm Wiseapp Retail Goods, published Thursday, found that in February, the average user spent 48 hours and 73 minutes per month on short-form video applications such as YouTube, TikTok, and Instagram. In contrast, they spent on

SEOUL, March 12 (AJP) - Samsung Electronics has secured a preliminary injunction against Chinese home appliance maker TCL in a trademark infringement lawsuit in Germany, a ruling that could set a precedent in disputes over alleged "copycat" practices by Chinese companies. The District Court of Dusseldorf ruled in favor of the South Korean tech giant last month, approximately three months after Samsung initiated legal proceedings in November 2024, according to industry of