South Korean shipowners warn against foreign sale of Hyundai LNG Shipping

SEOUL, November 26 (AJP) - South Korea’s shipping industry has raised alarms over the potential sale of Hyundai LNG Shipping, the country’s largest liquefied gas carrier operator, to a foreign buyer, warning the deal could undermine national energy security. The Korea Shipowners’ Association said Wednesday that IMM Private Equity and IMM Investment are in talks to sell the company to Indonesia’s Sinar Mas Group. Hyundai LNG Shipping operates 12 liquefied

November 26, 2025

Netmarble reports data breach after hack on PC gaming site

SEOUL, November 26 (AJP) - Netmarble announced on Wednesday that its PC gaming website was hacked last week, potentially exposing personal information belonging to customers and employees. The company said it detected the intrusion on Nov. 22 and “immediately took response measures,” including blocking unauthorized access and notifying authorities. An internal investigation is under way to determine the scale of the breach. According to Netmarble, the compromised

November 26, 2025

KT signs MOU with DigitalBridge to tap rising demand for AI infrastructure

SEOUL, November 26 (AJP) - KT said on Wednesday it has signed a memorandum of understanding with DigitalBridge, a U.S.-based digital infrastructure investment firm, to collaborate on the development and operation of AI data centers in South Korea. The agreement was signed on Nov. 25 at KT’s headquarters in Seoul. DigitalBridge, which manages about $108 billion in assets, specializes in data centers, fiber networks and cloud infrastructure. KT said the partnership aim

November 26, 2025

NPS can stall — but hardly a joker card in Korea's FX defense

SEOUL, November 26 (AJP) - Hedging maneuvers and central bank lifelines — South Korea's National Pension Service has several cards it can play to help authorities fend off pressure on the Korean won, but any relief is likely to be temporary, as the fund's core mission is safeguarding old-age coffers, not defending the currency. The NPS has been asked to join fiscal and monetary authorities in a joint response council as the won drifts toward the once-unthinkable 1,500

November 26, 2025

S-Oil foundation honors young scientists with 368 million won in research grants

SEOUL, November 26 (AJP) - S-Oil Science Prodigy and Culture Foundation on Wednesday presented awards to promising researchers in basic sciences, distributing a total of 368 million won (about $250,000) in research funding at its Seoul headquarters. The foundation, chaired by Hong Suk-woo, held the 15th Dissertation of the Year Awards and the 7th Next-generation Scientist Fellowship Awards ceremony at the company's Gongdeok-dong office. The Korean Academy of Science and Technolo

November 26, 2025

Naver expands healthcare portfolio with acquisition of cloud EMR firm Cenacle

SEOUL, November 26 (AJP) - Naver has acquired a controlling stake in cloud-based electronic medical records (EMR) company Cenacle as it accelerates its expansion into the digital healthcare sector. The acquisition price was not disclosed, and Naver said it ultimately aims for full ownership. Cenacle operates the cloud EMR platform “Orem Chart” and the patient health-management app “Clea,” serving clinics across internal medicine, pediatrics and other s

November 26, 2025

South Korean petrochemical firms seek approval for major restructuring deal

SEOUL, November 26 (AJP) - Lotte Chemical and HD Hyundai Chemical have submitted a preliminary review request for their planned merger of petrochemical facilities, South Korea’s Fair Trade Commission (FTC) said on Wednesday. This marks the first restructuring case to move forward under a government-led initiative to revive the struggling petrochemical sector. Both companies operate naphtha cracking facilities within the Daesan petrochemical complex in South Chungcheong

November 26, 2025

Seoul wields strongest-yet rhetoric to reverse KRW slide toward historic lows

SEOUL, November 26 (AJP) - South Korea must establish a new management framework for the National Pension Service (NPS) — the world’s third-largest pension fund and a market force amplified by an aging population already accounting for 20 percent of the nation — as its outsized footprint increasingly shapes both the capital market and the Korean won’s plunge to record-weak levels, the country’s top financial chief warned Wednesday. In a rare press br

November 26, 2025

LS Electric secures largest-ever power equipment deal in US

SEOUL, November 26 (AJP) - South Korea’s LS Electric said on Wednesday it has secured a $315 million contract to supply high-voltage transformers in North America, the largest deal in the company’s history. The agreement, signed with a major U.S. private utility, covers the delivery of 525-kilovolt transformers to renewable energy facilities across the southeastern U.S. through 2029. The equipment will serve as critical power sources for large data centers in the

November 26, 2025

Asian stocks reinvigorated by Google's AI fuel

SEOUL, November 26 (AJP) - Asian stocks snapped out of their correction phase Wednesday as renewed euphoria over Alphabet’s “Gemini 3.0” reignited AI-driven appetite and lifted sentiment across the region. The benchmark KOSPI gained 1.9 percent to close in on the 4,000 mark in the morning earnings session. Institutions returned in force, with domestic institutions buying 702 billion won and foreign institutions 1.223 trillion won. Confidence also improved after F

November 26, 2025