Coupang hit by massive personal data breach affecting 33 million accounts

SEOUL, November 30 (AJP) - Coupang, the top e-commerce platform with some 33 million monthly active users in South Korea, is facing growing criticism after confirming that personal information belonging to more than 33 million customer accounts was exposed in a major data breach. The scale of the incident has stirred anxiety among consumers and intensified scrutiny of how large technology companies protect basic personal data. The breach has drawn wide attention because Coupang ha

November 30, 2025

Economy/Business Calendar

Seoul, November 28 (AJP) - Dec 1 (Mon) ISM Manufacturing (Nov) - U.S. NBS/Caixin PMIs (Nov) - China Dec 3 (Wed) GNI (3Q) - Ministry of Data and Stats ADP, ISM Services - U.S. Dec 5 (Fri) BoP (Oct) - Bank of Korea Industrial Loans (Q3) 2025 - Bank of Korea Jobs Report (Nov) - U.S. Dec 9-10 (Tue-Wed) FOMC meeting - U.S. Export/Import price indexes (Nov) - Bank of Korea Dec 15-18 (Mon-Thu) Trade, CPI/PPI (Nov) - China Dec 16 (Tue) Combined Oct&n

November 28, 2025

Korea's unique dawn delivery stokes debate between consumer and labor rights

SEOUL, November 28 (AJP) - South Koreans expect grocery orders to arrive at their doorstep by morning — a standard that may astonish outsiders but has become routine thanks to Coupang's ultra-fast e-commerce strategy. Competitors large and small, including Kurly, SSG.com under Shinsegae, CJ Logistics, and others, now compete primarily on delivery speed. But overnight and dawn deliveries come with a human cost. The delivery workers' union und

November 28, 2025

Wemix will be listed on Thailand's largest crypto exchange Bitkub

SEOUL, November 28 (AJP) - The Wemix Foundation said Friday that its Wemix cryptocurrency will be listed on Bitkub, Thailand’s largest digital asset exchange, with deposits and withdrawals opening on Dec. 1. Bitkub controls about 70 percent of Thailand’s cryptocurrency market and operates under authorization from the Ministry of Finance. The platform lists more than 100 digital assets. The listing marks Wemix’s first official entry into the Thai market and

November 28, 2025

Sydney roundtable highlights new opportunities for Australia–Korea clean energy ties

SEOUL, November 28 (AJP) - A roundtable focused on strengthening clean energy partnerships between Australia and Korea was hosted in Sydney last Thursday. Hosted by the Australian Chamber of Commerce in Korea (AustCham Korea) with support from HWLE Lawyers and Elecseed, the event brought together 25 C-suite executives and senior government officials to explore collaboration opportunities across the clean energy sector. Representatives from major organizations including POSCO

November 28, 2025

Hanwha Aerospace wins $480 million contract for missile interceptors from DAPA

SEOUL, November 28 (AJP) - South Korea's Hanwha Aerospace said Friday it has signed a 705.4 billion won ($480 million) contract with the Defense Acquisition Program Administration (DAPA) to mass-produce long-range surface-to-air missiles (L-SAM) by 2030. The agreement covers the supply of anti-ballistic missiles (ABM) and launchers for the country’s upper-tier missile defense network. The L-SAM system is designed to intercept ballistic missiles at altitudes above 40

November 28, 2025

Samsung scion's naval commissioning reunites Lee family, including ex-wife

SEOUL, November 28 (AJP) - Naval Academy commissioning ceremony for 24-year-old Lee Ji-ho, son of Samsung Electronics Chairman Lee Jae-yong, brought together members of the Samsung family — including the chairman’s former wife Im Se-ryung — in a rare public appearance since their 2009 divorce. Lee Ji-ho, commissioned as part of the 139th class of naval officers, was joined by his grandmother Hong Ra-hee, widow of the late Samsung Chairman Lee Kun-hee, and his aun

November 28, 2025

South Korea to delay tax audits for foreign firms increasing investment

SEOUL, November 28 (AJP) - South Korea’s National Tax Service (NTS) will postpone regular tax audits for up to two years for foreign companies that substantially increase their investments in the country. NTS Commissioner Lim Gwang-hyun announced the measure on Friday during a meeting hosted by the American Chamber of Commerce in Korea (AmCham) in Seoul. Companies that raise their domestic investment by a defined percentage compared with the previous year will be eligible to

November 28, 2025

Korean lawmakers advance bill to close loopholes on synthetic nicotine

SEOUL, November 28 (AJP) - South Korea is moving closer to regulating synthetic nicotine as tobacco after a key parliamentary committee approved an amendment to the related act, paving the way for a full legislative vote on Dec. 12. The amendment would broaden the legal definition of tobacco to include products containing nicotine derived from non-tobacco sources. Synthetic nicotine e-cigarettes are currently treated as industrial products, allowing them to bypass tobacco-r

November 28, 2025

UPDATE: Korea's factory output and investment slump Oct on stalled chip activity

SEOUL, November 28 (AJP) - South Korea’s factory output in October shrank at the steepest rate in five years, while facility investment tumbled by double digits — all tied to stalled chip activity — further underscoring the country’s heavy reliance on the semiconductor sector for economic performance, data showed Friday. According to the Ministry of Data and Statistics, mining and manufacturing output fell 4 percent on month, the steepest drop since the

November 28, 2025