BlackRock's Samsung stake surpasses Lee family as KOSPI soars

SEOUL, September 25 (AJP) - Samsung Electronics Co. remains a top pick for BlackRock Inc., which has reaped outsized gains from its bullish bet on the KOSPI — this year's best-performing major equity index globally. The world's largest asset manager now holds a larger stake in Korea's chip titan than the controlling Lee family. BlackRock owns 5.07 percent of Samsung Electronics, a position valued at 25.4 trillion won ($18.1 billion) based on Tuesday's closing p

September 25, 2025

Hanmi Global expands in Middle East with Kuwait, Saudi contracts

SEOUL, September 25 (AJP) - Hanmi Global announced on Thursday that it had secured a series of construction management contracts in the Middle East. The company won three construction supervision contracts from Kuwait’s Public Authority for Housing Welfare, valued at about 31 billion won, or roughly $22 million. In Saudi Arabia, it secured a separate deal worth 16 billion won to provide project management services for part of the kingdom’s vast Green Riyadh initiativ

September 25, 2025

Autonomous navigation advances as Samsung Heavy completes trans-Pacific test

SEOUL, September 25 (AJP) - Samsung Heavy Industries said on Thursday that it had successfully tested an artificial intelligence–based autonomous navigation system on a trans-Pacific voyage, a milestone in the shipping industry’s push toward automation and efficiency. The system, known as Samsung Autonomous Ship (SAS), was installed on a 15,000-TEU container vessel operated by Evergreen Marine of Taiwan. The ship departed Oakland, Calif., on Aug. 25 and arrived in

September 25, 2025

Medical schools lose appeal as semiconductor careers promise six-figure salaries

SEOUL, September 24 (AJP) - University applicants are increasingly opting for majors that guarantee employment at major companies after graduation, rather than medical schools, which have long been the preferred choice among many top-scoring students. This shift is particularly evident at Hanyang University, Korea University, and Sogang University, which offer semiconductor-related courses and similar programs in partnership with businesses, often leading to guaranteed positions at

September 24, 2025

KT CEO acknowledges flaws in network security after data breach

SEOUL, September 24 (AJP) - The chief executive of KT Corp. acknowledged to lawmakers on Wednesday that the company had poorly managed its cellular network, which led to unauthorized mobile payment breaches and the theft of private data from hundreds of users. During a parliamentary hearing, KT's CEO, Kim Young-shub, admitted to significant security vulnerabilities related to the company's network of micro base stations, known as femtocells. "After the incident, we

September 24, 2025

Kakao Games launches new mobile game 'Goddess Order' worldwide

SEOUL, September 24 (AJP) - Kakao Games on Wednesday announced the global launch of its latest mobile action role-playing game, Goddess Order, a retro-inspired title developed by the studio Pixel Tribe. The release covers most major markets, with the notable exception of China. Designed with 2D pixel graphics and side-scrolling action, the game seeks to evoke the nostalgia of classic console titles while tailoring the experience to mobile platforms. Players can control up to

September 24, 2025

South Korean shipbuilders surge on hopes of early industry super cycle

SEOUL, September 24 (AJP) - South Korea’s shipbuilding companies are bracing for what could be an earlier-than-expected industry super cycle, as surging orders for high-margin vessels and prospects of collaboration with the United States fuel investor optimism. The combined market capitalization of HD Korea Shipbuilding & Offshore Engineering, Hanwha Ocean and Samsung Heavy Industries has more than doubled this year, reaching 92.1 trillion won (about $66 billion) as of Sep

September 24, 2025

Samyang's global sensation 'Buldak' noodle sells over 8 billion packs

SEOUL, September 24 (AJP) - Samyang Foods has announced a major milestone for its globally popular "Buldak" hot chicken flavor ramen series, with sales surpassing 8 billion units since its launch in 2012. The sales figure, which nearly matches the world’s population of 8.2 billion, underscores the brand's immense global success and its role in popularizing Korean cuisine, or "K-Food," around the world, the company said Wednesday. Exported to more

September 24, 2025

China leaps on global corporate stage while Korean Inc. stagnates

SEOUL, September 24 (AJP) - China is rapidly widening its footprint in the global corporate landscape while the Korean Inc. has remained stagnant, according to an analysis by the Korea Chamber of Commerce and Industry (KCCI). KCCI study of Forbes’ Global 2000 rankings showed that the number of Chinese firms on the list surged to 275 this year from 180 in 2015. By contrast, Korean names thinned from 66 to 62 over the same period. The U.S. population strengthened from 575 to

September 24, 2025

IMF raises South Korea's growth forecast but warns of structural risks

SEOUL, September 24 (AJP) - The International Monetary Fund raised South Korea’s economic growth outlook for this year to 0.9 percent, up slightly from the 0.8 percent it projected in July. But the fund cautioned that the country must push ahead with structural reforms and long-term fiscal consolidation if it wants to strengthen its growth potential. The revised forecast came after the IMF's annual consultation with Seoul, conducted from Sept. 11 to 24. The fund l

September 24, 2025