South Korea's HD Hyundai to build shipyard in India's Tamil Nadu

SEOUL, December 08 (AJP) - HD Hyundai said Monday it plans to build a new shipyard in India’s southern state of Tamil Nadu, strengthening its presence in one of the world’s fastest-growing maritime markets as New Delhi seeks to become a major global shipbuilding power. The South Korean shipbuilder said it signed an exclusive memorandum of understanding with the Tamil Nadu state government in Madurai. India is promoting the “Maritime Amrit Kaal Vision 2047&rd

December 8, 2025

Korea's household wealth skewed to property, undermining capital markets: report

SEOUL, December 08 (AJP) - South Korean household wealth remains heavily concentrated in real estate, leaving the country structurally behind major advanced economies in financial investment and capital-market participation, according to a report released Monday by the Korea Economic Research Institute (KERI). The study, authored by Professor Song Heon-jae of the University of Seoul, found that non-financial assets — largely residential and commercial property — acco

December 8, 2025

SingCham Korea hosts year-end celebration marking 50 years of Singapore–South Korea ties

SEOUL, December 07 (AJP) - SingCham Korea brought together about 150 guests on December 5 for its year-end celebration, "The Golden Ticket," held at Floating Island's Vista Hall in Seoul. The event gathered members of the Singaporean community, South Korean partners, business leaders, and diplomats to mark the close of the year and the 50th anniversary of diplomatic relations between Singapore and South Korea. The evening opened with welcome remarks from SingCham Kor

December 7, 2025

Coupang issues follow-up notice on data breach, warns against secondary damage

SEOUL, December 07 (AJP) - Coupang said on Sunday that there have been no additional personal data breaches linked to the earlier incident, while urging customers to remain cautious to prevent potential secondary damage such as phishing or impersonation scams. In a follow-up notice sent to users, the e-commerce platform said the update was intended to reinforce precautionary guidance related to a data breach first announced on Nov. 29, stressing that the message does not indicate

December 7, 2025

Traditional Korean liquor sales surge at convenience stores as young consumers embrace local brands

SEOUL, December 07 (AJP) - Traditional Korean liquor from small regional breweries is gaining popularity at convenience stores, with sales jumping more than five-fold as trendy products attract younger consumers beyond the traditional middle-aged demographic. GS25, a major convenience store chain, said sales of traditional liquor from small breweries through its Wine25Plus online platform surged 5.4 times in the first 11 months of this year compared to the same period last year. O

December 7, 2025

Samsung widens lead in foldable market with latest Galaxy 7

SEOUL, December 05 (AJP) - Samsung Electronics widened its commanding lead in the foldable smartphone segment it pioneered, capturing 64 percent of the global market in the third quarter with its latest Galaxy Z Fold7 despite intensifying competition from Chinese brands, research showed. Global foldable shipments rose 14 percent on-year in the July–September period — the highest quarterly volume to date — with Samsung’s book-type flagship exerting “o

December 5, 2025

South Korea's LIG Nex1 seeks to localize chips for AESA, SAR radar systems

SEOUL, December 05 (AJP) - South Korean defense contractor LIG Nex1 has launched a project to develop key semiconductors for active electronically scanned array (AESA) and synthetic aperture radar (SAR) systems using fully domestic technology. The company said it signed agreements on Nov. 28 with the Defense Technology Promotion Research Institute to co-develop X-band common monolithic microwave integrated circuit (MMIC) and front-end module platforms for AESA radar, as well as

December 5, 2025

Korea's CJ picks safe site for first U.S. Olive Young store to test offline popularity of K-beauty

SEOUL, December 05 (AJP) - CJ is taking a measured approach as it prepares to plant the Olive Young flag in the world’s largest beauty market, selecting Pasadena, California, as the location for its first U.S. store — a choice driven by demographic safety, retail compatibility and the growing appeal of Korean skincare across America’s diverse consumer base. “Pasadena is not far from downtown LA, has a relatively high share of high-income residents and a ret

December 5, 2025

Quiet flight from Coupang after data breach deepens pain for small vendors

SEOUL, December 05 (AJP) - Fallout from Coupang’s massive data breach is widening beyond consumers to tens of thousands of small vendors across South Korea who rely on the e-commerce giant as a primary sales channel and livelihood. The National Assembly Science and ICT Committee has scheduled another hearing on Dec. 17 to examine a growing number of complaints against Coupang, including difficulties in canceling subscriptions or discontinuing platform use. Lawmakers say the sc

December 5, 2025

Low pay for AI talent is driving skilled workers overseas, BOK warns

SEOUL, December 05 (AJP) - South Korea offers the lowest wage premiums for artificial intelligence specialists among major advanced economies, placing the country at a disadvantage in the global battle for high-tech talent, the Bank of Korea said in a report released Friday. The analysis, presented at a seminar co-hosted with the Korea Chamber of Commerce and Industry, called for upgrading compensation systems and research environments to meet international standards. Using

December 5, 2025