Samsung Heavy signs partnership with Indian shipyard

Namgoong Geum-seong of Samsung Heavy Industries, right, and Vipin Kumar Saxena of India's Swan Shipyard pose after signing an MOU on Sept. 29. Courtesy of Samsung Heavy Industries SEOUL, September 29 (AJP) - South Korea's Samsung Heavy Industries said Monday it had signed a memorandum of understanding with Swan Defence and Heavy Industries, an Indian shipyard, in a move to expand its global footprint in shipbuilding and marine projects. The agreement positions Samsung Heavy

September 29, 2025

OpenAI appoints former Google Korea head as first South Korea chief

SEOUL, September 29 (AJP) - OpenAI has named Kim Kyung-hoon, a former head of Google Korea, as its first chief executive in South Korea, the company announced Monday. Kim, who has more than two decades of experience in global technology and consulting, will lead OpenAI’s strategic partnerships and oversee the expansion of its artificial intelligence ecosystem in the country. The appointment comes amid surging demand for the company’s products in South Korea. Wee

September 29, 2025

CJ Logistics expands US cold chain network with new Kansas hub

SEOUL, September 28 (AJP) - South Korea's CJ Logistics said Sunday it has opened a new cold chain logistics center in New Century, Kansas. The facility is specifically designed to manage the storage and transport of refrigerated and frozen goods, utilizing specialized temperature control systems to maintain product freshness and quality. The new center's proximity to major highways allows for fast, same-day transport to key Midwestern cities, the company said. The

September 28, 2025

Emart24 becomes first Korean convenience store in Laos

SEOUL, September 28 (AJP) - South Korean convenience store chain Emart24 announced its entry into the Laotian market, Sunday, becoming the first Korean convenience store brand to establish a presence in the country. The entry follows a strategic franchise agreement with Laos-based conglomerate, Kolao Group. The partnership will see Emart24 convert 50 existing KOK KOK MINI convenience stores, currently operated by Kolao Group, into Emart24 outlets, alongside the opening of new

September 28, 2025

South Korea, US to hold first working group talks on visa issues this week

SEOUL, September 28 (AJP) - The first meeting of a working group between South Korea and the United States to address visa issues, which came to prominence after the large-scale detention of South Korean workers by US immigration authorities, is scheduled to take place on Sept. 30 (local time) in Washington D.C., South Korean diplomatic sources said Sunday. The meeting comes 26 days after 317 South Korean nationals were detained while working at the construction site of the Hyunda

September 28, 2025

Seoul to enshrine 'right to be forgotten' as AI deepfake crimes persist

SEOUL, September 26 (AJP) - South Korea is moving to include the "right to be forgotten" as a core privacy protection for youths targeted by deepfake pornography as AI-generated sexual crimes proliferate. The Personal Information Protection Commission this week announced new measures to safeguard personal data in the AI era. These include giving minors the right to demand deletion of online posts made during adolescence and barring individuals with criminal records from se

September 26, 2025

Naver-Upbit tie-up may fuel Korea's won-pegged stablecoin initiative

SEOUL, September 26 (AJP) - A tie-up between Korean internet giant Naver and Dunamu, operator of the world’s fourth-largest cryptocurrency exchange Upbit, is widely expected to accelerate the country’s ambition to launch a won-based stablecoin ecosystem. Naver on Thursday confirmed a stock-swap deal with Dunamu is under way, noting that stablecoins are among several ventures under discussion between the two firms, though nothing has been finalized. Analysts see stab

September 26, 2025

Strong U.S. Data and Trump Remarks push the KRW-USD Above 1,410

SEOUL, September 26 (AJP) - The U.S. dollar shot up above 1,410 won in early Seoul trading Friday for the first time in four months on stronger-than-expected U.S. growth data and renewed jitters over trade prospects after U.S. President Donald Trump stressed that South Korea's $350 billion investment commitment in the U.S. should be made "up front". Fears about the hefty greenback price tag Korea may be forced to bear unsettled the markets. The KOSPI lost 2.1 perce

September 26, 2025

Korea's BSI eases, but outlook uneasiness persists due to U.S. uncertainty

SEOUL, September 26 (AJP) - South Korean business sentiment eased for the second consecutive month thanks to robust chip exports and consumer spending spurred by government relief program, but uneasiness persisted due to trade uncertainties related to the United States. The Composite Business Survey Index (CBSI) rose 0.6 points to 91.6 from the previous month, sustaining upward movement for the second straight month, according to the Bank of Korea data released Tuesday. In t

September 26, 2025

K-beauty popularity props up Busan's tourism and retail market

BUSAN, September 25 (AJP) - South Korea’s southern port city of Busan is riding a surge of foreign arrivals as more visitors venture beyond the capital region — and beauty chain Olive Young is reaping the rewards. According to Busan metropolitan authorities, foreign tourist arrivals reached 2.03 million through July, up 23 percent from a year earlier. The influx has delivered a welcome boost to the local retail market. International purchases at Busan Olive Young outlets

September 25, 2025