Business
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Gold prices soar to record high on trade war concerns
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
March 14, 2025 -
Korean banks report record profits
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
March 14, 2025 -
Korean automakers face high stakes as US tariffs reshape industry
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
March 14, 2025 -
HD Hyundai partners with Bill Gates' TerraPower for nuclear reactor business
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
March 13, 2025 -
KT evolves from telecom company to global digital powerhouse
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
March 13, 2025 -
Homeplus extends discount promotions amid financial struggles
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
March 13, 2025 -
Demand for smaller vehicles rises as women, older drivers shape market
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
March 13, 2025 -
Koreans spend seven times more on short-form video than streaming services
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
March 13, 2025 -
Samsung wins trademark lawsuit against Chinese firm TCL in Germany
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
March 12, 2025
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Number of young unemployed people reaches 1.2mln
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78 percent of workers support reducing working hours this year
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Police launch nationwide crackdown on online drug crimes amid rising youth offenders
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US defense secretary skips Seoul amid political instability
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Nationwide demonstrations sweep across South Korea as Yoon's impeachment ruling nears
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US adds South Korea in bottom category of sensitive countries list
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LE SSERAFIM return with new album
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Actor Kim Soo-hyun denies allegations of inappropriate relationship with late actress
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TRAVEL: Seoul Public Bicycle Ttareungi
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Over half of South Koreans trust Constitutional Court, poll shows