Coupang theft set to become Korea's worst data crisis raises sober reckoning on cybersecurity

SEOUL, December 01 (AJP) - Korea — a society whose everyday routines run almost entirely online — is grappling with its biggest data crisis to date after e-commerce giant Coupang confirmed that information linked to nearly all of its customers — 33.7 million people, or three out of four Korean adults — had been stolen. More worrisome is that while previous high-profile breaches this year involved external hacking attacks on wireless carriers and credit-card

December 1, 2025

South Korea's Webzen slapped fine for manipulating game item odds, misleading players

SEOUL, December 01 (AJP) - South Korean game developer Webzen has been fined for manipulating item acquisition probabilities in its mobile title Mu Archangel and misleading players, the Korea Fair Trade Commission (FTC) said on Monday. The regulator imposed a 158 million won (about $120,000) penalty for failing to disclose mechanisms that significantly reduced users’ chances of obtaining rare in-game items. According to the FTC, between June 2020 and March 2024 Webzen s

December 1, 2025

Jeju beef, pork enter Singapore market for first time

SEOUL, December 01 (AJP) - South Korea has exported Jeju-produced beef and pork to Singapore for the first time, the Ministry of Food and Drug Safety said on Monday. The ministry, together with the Ministry of Agriculture, Food and Rural Affairs and the Jeju Special Self-Governing Province, held a shipping ceremony at Jeju Port, sending 4.5 tons of meat products valued at roughly 2.8 billion won. The shipment represents the first case in which Singapore directly assessed and

December 1, 2025

Korean game makers target Southeast Asia, India as next growth engines

SEOUL, December 01 (AJP) - South Korea's major game publishers are expanding their focus on Southeast Asia and India, betting on the regions’ rapidly growing mobile-first user base and rising spending power. Companies are not only exporting games but also investing, forming joint ventures, and reorganizing operations to secure long-term positions in the markets. Industry officials say Southeast Asia has emerged as the world’s second-largest market for mobile g

December 1, 2025

Hanwha Aerospace showcases K9, Chunmoo systems at Egypt's defense expo

SEOUL, December 01 (AJP) - Hanwha Aerospace said Monday it is participating in the Egypt Defense Expo (EDEX) 2025, which runs from Dec. 1–4 in Cairo, showcasing a range of artillery and air-defense systems. The South Korean defense manufacturer is highlighting its K9 self-propelled howitzer, set to enter service with Egypt from 2026 under a major contract. More than 450 companies are taking part in the exhibition, which is expected to draw around 40,000 visitors. At the

December 1, 2025

South Korea's HD Hyundai consolidates shipbuilding units

SEOUL, December 01 (AJP) - HD Hyundai Heavy Industries and HD Hyundai Mipo Shipbuilding completed their merger on Monday, forming an integrated entity under the name HD Hyundai Heavy Industries as the group seeks to reinforce its position as the world’s largest shipbuilder. The merger, first announced in August, follows a broader consolidation trend in the global shipbuilding sector, with major players in China and Japan also unifying their leading yards. HD Hyundai Hea

December 1, 2025

Samsung Biologics to invest 7 trln won in third bio-campus

SEOUL, December 01 (AJP) - Samsung Biologics plans to invest about 7 trillion won ($4.76 billion) to build a third campus in Songdo, diversifying its contract manufacturing business beyond antibody drugs into emerging therapeutic modalities. The South Korean biopharmaceutical manufacturer said Monday it signed a land purchase agreement with the Incheon Free Economic Zone authority for about 187,427 square meters of industrial site in Songdo International City. The company will pay 2

December 1, 2025

South Korean hotels ride wave of Chinese Gen Z travelers

SEOUL, December 01 (AJP) - South Korea’s hotel scene is in the midst of a renaissance, energized by a surge of overseas travelers who are filling rooms, lifting revenues, and reshaping the country’s hospitality landscape. At the center of this revival is the return of Chinese tourists — once South Korea’s largest visitor group — whose comeback is accelerating faster than many in the industry anticipated. More than 14 million foreign tourists arri

December 1, 2025

South Korean asset management firms' Q3 profit surges 128 percent year-on-year

SEOUL, December 01 (AJP) - South Korea’s asset management industry expanded in the third quarter, with total assets under management (AUM) rising 3.9 percent from the previous quarter to 1,868.8 trillion won (about $1.27 trillion). Fund deposits grew 5 percent to 1,226.8 trillion won ($835 billion), while investment advisory contracts increased 1.8 percent to 642 trillion won. Funds recorded gains across major categories: equity funds reached 149.5 trillion won, bond

December 1, 2025

Chip boom lifts South Korea's November exports 8.4 percent

SEOUL, December 01 (AJP) - South Korea’s exports rose more than 8 percent in November from a year earlier, extending their growth streak to six consecutive months and putting the country on course to reach an annual export of $700 billion for the first time. The Ministry of Trade, Industry and Energy said Monday that outbound shipments reached $61.04 billion in November, up 8.4 percent on-year. Average daily exports, adjusted for working days, climbed 13.3 percent to $2.71

December 1, 2025