Naver Financial, Dunamu vow to seize global market with AI-Web3 synergy

SEOUL, November 27 (AJP) - Naver Financial and cryptocurrency exchange operator Dunamu on Thursday declared their intent to dominate the global digital finance landscape by fusing artificial intelligence with blockchain technology, as the two Korean tech powerhouses formalize their corporate alliance. Top executives from Naver, Naver Financial and Dunamu gathered at Naver's second headquarters in Seongnam to unveil their vision a day after approving a merger that brings Upbit op

November 27, 2025

BOK holds year-end key rate at 2.5%, ups growth forecast to 1.0%

SEOUL, November 27 (AJP) - As widely expected, the Bank of Korea kept its base rate unchanged at 2.5 percent on Thursday in its final policy meeting of 2025, reflecting policy bind amid waning appeal of Korean debt and assets with the Korean won at crisis-level weakest. The freeze signals the Korean central bank's decision to stay on the sidelines while hoping for greater policy maneuvering room should the U.S. Federal Reserve cut its benchmark rate again in December. Monetar

November 27, 2025

The hidden engine of Nuri's success: HD Hyundai Heavy's ground launch system

SEOUL, November 27 (AJP) - When South Korea’s Nuri rocket lifted off before dawn on Thursday, attention naturally turned to the spacecraft streaking into the sky. But the success of the launch was rooted firmly on the ground — specifically, in the complex launch system engineered and operated by HD Hyundai Heavy Industries. For the fourth mission in a row, the country’s largest shipbuilder played a pivotal but largely unseen role in enabling one of South Korea&

November 27, 2025

South Korea's Hyundai Glovis secures $720 million LNG transport contract

SEOUL, November 27 (AJP) - Hyundai Glovis said on Thursday it has signed a long-term liquefied natural gas (LNG) shipping contract worth about 960 billion won ($720 million) with a major global trading company, marking one of the largest gas-transport deals in the company’s portfolio. The contract, which runs for up to 15 years, will be serviced by a newly built 174,000-cubic-meter LNG carrier — a vessel large enough to transport more than half of South Korea’s

November 27, 2025

Homeplus sale stalls as main auction draws no bidders

SEOUL, November 27 (AJP) - The planned sale of Homeplus has stalled after the main auction attracted no bidders, deepening uncertainty over the future of the South Korean hypermarket chain. Two companies had taken part in the preliminary bidding but both withdrew ahead of the final auction. The main auction closed at 3 p.m. on Wednesday with no proposals submitted. Sources from Homeplus said on Thursday it will continue to accept offers until Dec. 29, the deadline for filing

November 27, 2025

Delinquencies on Korea's mom-and-pop business loans hit highest level since 2015

SEOUL, November 27 (AJP) - Delinquencies on loans to South Korea’s mom-and-pop businesses rose to their highest level in more than nine years in the third quarter, even as the banking sector’s overall nonperforming loan (NPL) ratio edged down, the Financial Supervisory Service (FSS) said on Thursday. The NPL rate for personal business loans climbed 0.02 percentage points from the previous quarter to 0.61 percent, the highest since June 2015. The FSS attributed the

November 27, 2025

Korean Inc.'s USD hoarding is inevitable as U.S. trade and FDI footprints deepen

SEOUL, November 26 (AJP) - South Korea’s finance minister signaled the government had even asked major exporters for help in propping up the won — a reversal of the usual dynamic that underscores the urgency on the FX front. But expectations for meaningful action remain low, as companies tied to massive U.S. investment commitments have little incentive to part with their dollar reserves. The won’s annual average has already exceeded 1,400 per dollar this year, su

November 26, 2025

Asian shares rise on AI tailwind; Chinese markets mostly flat

SEOUL, November 26 (AJP) - Asian shares closed broadly higher Wednesday, lifted by renewed optimism over artificial intelligence following the debut of Google’s “Gemini 3.0” model. While sector performance varied across the region, sentiment improved as investors increasingly dismissed the notion of an AI bubble. The benchmark KOSPI climbed 2.67 percent to 3,960.87. Easing anxiety over the AI sector and direct market intervention by foreign exchange authorities s

November 26, 2025

Koreans spend more time on ChatGPT than on Naver, making Korea OpenAI's No. 2 market

SEOUL, November 26 (AJP) - South Koreans have emerged as the world's most avid ChatGPT users, spending more time on the AI platform than on the country's dominant portal Naver, and pushing Korea to become OpenAI's second-most profitable market despite its small population, data showed. According to app analytics firm Sensor Tower, Korea ranked No. 2 after the United States in ChatGPT revenue contribution. Global downloads of the ChatGPT app have surpassed 1.4 billio

November 26, 2025

Koreans donated gold during IMF crisis — but their love for "foreign" won't rescue the won this time

SEOUL, November 26 (AJP) - Korean authorities are pleading for all-around help — from the "big-brother" National Pension Service (NPS) to brokerages and exporters — to mobilize every possible tool to defend the Korean won drifting toward the untouched 1,500-won ($1.02) watershed. But they cannot expect sympathy, much less sacrifice, from ordinary Koreans, whose enduring appetite for overseas spending — on goods, travel, and securities — remains un

November 26, 2025