Taekwang Industries to acquire Dongsung Pharmaceutical in K-beauty push

SEOUL, January 14 (AJP) - Taekwang Industries said Wednesday it will acquire mid-sized drugmaker Dongsung Pharmaceutical through a consortium with United Asset Management Co., known as UAMCO, marking its latest move to diversify beyond its core chemicals and textiles businesses. Taekwang's board approved the acquisition at a meeting held Jan. 7. Dongsung produces a range of consumer health and personal-care products. Taekwang said the deal is intended to accelerate its ex

January 14, 2026

South Korea's stock market cap jumps 76 percent in 2025

SEOUL, January 14 (AJP) - South Korea’s stock market capitalization surged nearly 80 percent over the past year, propelled by sharp gains in Samsung Electronics and SK hynix. Total market capitalization rose by 1,718 trillion won ($1.3 trillion) to 3,972 trillion won at the start of this year, from 2,254 trillion won a year earlier, according to an analysis released Wednesday by the Korea CXO Institute. The rally also broadened the ranks of large-cap stocks. T

January 14, 2026

Rigorous Korean hair formula behind perfect K-drama hair fuels global sales

SEOUL, January 13 (AJP) — Long, glossy black hair catching the light as it moves in the breeze has become a familiar image of Korean heroines in romantic dramas. The look has captivated global audiences — and it is translating into booming overseas sales of Korean hair-care products. According to South Korea’s Ministry of Food and Drug Safety (MFDS), cosmetics exports reached a record $11.4 billion in 2025, up 12.3 percent from a year earlier. The United States a

January 13, 2026

POSCO raises $700 million in US dollar bond sale

SEOUL, January 13 (AJP) - POSCO, South Korea’s largest steelmaker, has completed its first U.S. dollar–denominated public bond sale of the year, becoming the first South Korean company to tap the global dollar bond market in 2026. The company said Tuesday that it raised $700 million through a two-part offering comprising $400 million of five-year notes and $300 million of 10-year notes. POSCO initially marketed the bonds at spreads of about 1.15 percentage points ov

January 13, 2026

Trump's Taiwan chip 'big deal' reshapes foundry race, puts Korea in strategic bind

SEOUL, January 13 (AJP) - After extracting concessions from Japan and South Korea, U.S. President Donald Trump is now pressing another semiconductor powerhouse — Taiwan — using trade leverage to pull advanced chip manufacturing onto U.S. soil. Under an emerging deal, Washington plans to cut tariffs on Taiwanese goods to 15 percent from 20 percent in exchange for a major expansion of Taiwan Semiconductor Manufacturing Co.’s U.S. manufacturing footprint, according

January 13, 2026

South Korea's Wemade brings new Mir game to China with localized features

SEOUL, January 13 (AJP) - South Korean game developer Wemade has officially launched "Mir M," the latest title based on its long-running Mir franchise, in China. The game is available on Android, Apple’s iOS and PC platforms in China, the company said. Mir M is a modern reinterpretation of the world of “The Legend of Mir 2,” Wemade’s flagship title that gained widespread popularity in China in the early 2000s. The new release carries over

January 13, 2026

Binggrae to merge Haitai, tightening grip on South Korea's ice cream market

SEOUL, January 13 (AJP) - Binggrae said Tuesday it will merge its wholly owned subsidiary, Haitai Ice Cream, into the parent company, a move aimed at improving efficiency and sharpening competitiveness in South Korea’s ice cream market. Binggrae's board has approved the merger plan, under which Binggrae will absorb Haitai Ice Cream, which it has owned outright since 2020. Binggrae plans to hold a final board vote on Feb. 12 and complete the merger on April 1. Since

January 13, 2026

Samsung courts Gen Z with expanded Galaxy creator program

SEOUL, January 13 (AJP) - Samsung Electronics has launched “Galaxy Crew 2026,” an expanded creator program designed to generate social-media content based on everyday use of its Galaxy devices. The company said Tuesday it held a launch event on Jan. 9, marking the start of roughly a year of planned activities. The program comprises 70 creators spanning 11 categories, including fitness, fashion, gaming, travel, photography, beauty, entertainment and video production.

January 13, 2026

Korea Zinc to form joint venture with US firm to produce rare earths

SEOUL, January 13 (AJP) - Korea Zinc said Tuesday it has signed a strategic partnership with U.S.-based Alta Resource Technologies to produce rare earths. The partnership focuses on recycling and refining end-of-life permanent magnets into high-purity rare-earth oxides, materials used in electric vehicles, wind turbines and defense systems, Korea Zinc said in a press release. Under the agreement, the two companies will establish a joint venture in the United States and build

January 13, 2026

Chinese copycat of Olive Young raises concerns over South Korean brands' reputation

SEOUL, January 13 (AJP) - As retail giant CJ's health and beauty chain has become a popular destination for foreign tourists visiting Seoul, a copycat brand has emerged in China, raising concerns about potential damage to the reputation of South Korean beauty products. According to industry watchers on Tuesday, a beauty store called "Only Young," reminiscent of Olive Young, has opened in Changsha, the vibrant capital of China's Hunan Province, and has been

January 13, 2026