China's Tencent expands global reach with gaming, AI, fintech at its core

Editor's Note: This article is the 24th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, June 26 (AJP) - Tencent Holdings is one of China’s most powerful technology companies. It reported revenue of 180.02 billion yuan ($25.1 billion) in the first quarter of 2025, marking a 13 percent increase from a year earlier. The company’s financial

June 26, 2025

Korea, Saudi Arabia launch joint initiative to help small companies

SEOUL, June 25 (AJP) - South Korea’s Ministry of SMEs and Startups (MSS) announced on Wednesday a new initiative aimed at helping small and medium-sized enterprises break into the rapidly evolving Saudi Arabian market. Starting July 7, the ministry will begin accepting applications from Korean companies interested in launching operations in Saudi Arabia under a government-backed program designed to overcome longstanding regulatory, cultural, and religious barriers. Despit

June 25, 2025

South Korean central bank warns of stablecoin risks to financial stability

SEOUL, June 25 (AJP) - South Korea’s central bank and the Bank for International Settlements (BIS) have raised fresh alarms over the systemic risks posed by the rapid rise of stablecoins, warning that widespread adoption could trigger destabilizing financial shocks and threaten monetary sovereignty. In its financial stability report released Wednesday, the Bank of Korea cautioned that stablecoins — cryptocurrencies pegged to traditional currencies — are vulnerable

June 25, 2025

'Stablecoins emerge as global financial trend'

SEOUL, June 25 (AJP) - Stablecoins are no longer a passing fascination but a defining trend in global finance, Hana Securities said in a report Wednesday. The Seoul-based brokerage described the rise of stablecoins as a shift “from theme to trend,” signaling a structural change in how markets view these blockchain-based assets. The report pointed to a confluence of factors — regulatory reforms, growing institutional interest, and the possible issuance of won-bac

June 25, 2025

Shinsegae's Jung Yong-jin tapped to lead Asia arm of Trump-linked Rockbridge Network

SEOUL, June 25 (AJP) - Shinsegae Group Chairman Jung Yong-jin is expected to take the helm of Rockbridge Asia, a new regional branch of the Rockbridge Network -- a powerful conservative political organization closely tied to former United States President Donald Trump and several key figures in his potential second administration. Multiple sources in South Korea's business and investment banking circles confirmed on Wednesday that Jung has agreed to lead Rockbridge's Asia

June 25, 2025

Hyundai E&C enters Finnish nuclear market, eyes more opportunities in northern Europe

SEOUL, June 25 (AJP) - Hyundai Engineering & Construction has taken a significant step into Northern Europe’s nuclear energy sector, signing a preliminary agreement to participate in a potential new nuclear power plant in Finland. The South Korean builder announced it had entered into an Early Works Agreement (EWA) on June 19 with Finland’s state-owned utility Fortum and Westinghouse Electric Company, the U.S.-based nuclear technology firm, in Helsinki. The agre

June 25, 2025

South Korea fails again in bid for MSCI Developed Market status

SEOUL, June 25 (AJP) - South Korea’s ambitions to join the ranks of the world’s developed financial markets faced another setback as MSCI declined once again to elevate the country from its emerging market classification. In its annual market classification review, the global index provider said South Korea would not be added to its watch list for a potential upgrade — effectively stalling any chance of reclassification until at least 2026. The decision also delays

June 25, 2025

South Korea to host US students in shipbuilding education program

SEOUL, June 24 (AJP) - South Korea will launch a new shipbuilding education program next year aimed at strengthening maritime industry ties with the United States by hosting American university students and faculty for short-term training. The initiative was announced Tuesday by the Ministry of Trade, Industry and Energy. Seoul National University, San Diego State University, and HD Korea Shipbuilding & Offshore Engineering signed a memorandum of understanding, outlining plan

June 24, 2025

South Korea urged to deepen mineral ties with Africa

SEOUL, June 24 (AJP) - As tensions between the United States and China continue to roil global supply chains, especially those critical to the electric vehicle industry, South Korea is being urged to strengthen its strategic engagement with Africa to secure vital battery minerals. A report released Tuesday by the Korea International Trade Association (KITA) warns that growing geopolitical fragmentation threatens the stability of supply routes for key materials such as lithium, cob

June 24, 2025

Consumer sentiment in South Korea hits 4-year high

SEOUL, June 24 (AJP) - South Korea’s consumer confidence surged to a four-year high in June, lifted by optimism over the launch of a new government and expectations for a forthcoming supplementary budget, the central bank said Tuesday. The Bank of Korea reported that its Composite Consumer Sentiment Index (CCSI) rose to 108.7 in June, up 6.9 points from the previous month and marking the highest reading since June 2021, when the index reached 111.1. The latest increase repr

June 24, 2025