Korean beauty company Leferi signs distribution deal with Philippine partner

SEOUL, September 13 (AJP) - South Korean beauty creator management company Leferi signed a strategic partnership agreement with Philippine distributor Biocostech Philippines Corporation on September 5 to jointly develop K-beauty content and cosmetics distribution models, the company announced Friday. Under the memorandum of understanding, the companies will establish "K-Beauty Selection Zones" in Philippine online and offline retail channels. Leferi will provide its prop

September 13, 2025

Korean and US trade ministers meet in New York amid stalled tariff negotiations

SEOUL, September 13 (AJP) - South Korean Industry Minister Kim Jung-kwan met with US Commerce Secretary Howard Lutnick in New York on Saturday to discuss follow-up negotiations on the Korea-US tariff agreement reached in July, according to multiple diplomatic sources. The ministerial talks come as working-level discussions between the two countries have reportedly reached a deadlock over detailed implementation of the trade deal. Under the July 30 agreement, the US reduced planned

September 13, 2025

KOSPI extends 9-day rally to fresh high, up 50% from April low

SEOUL, September 12 (AJP) - Kospi shares continued to slope upward, finishing the week at new heights, riding on the global liquidity-powered rally. Extending a nine-session winning streak, the Kospi ended Friday 1.5 percent higher at 3,395.54 — up 7 percent from Sept. 2 and 48.6 percent above the annual low in April. Foreign and institutional investors were the main buyers, while retail investors, cautious of a potential fizzle in the summer rally, took profits. The U.S. dol

September 12, 2025

S. Korea sees surge in complaints over social media livestream shopping

SEOUL, September 12 (AJP) - South Korea’s consumer protection agency on Friday warned of a surge in complaints from shoppers who purchased fashion items through livestreaming on social media platforms. The Korea Consumer Agency said it had received 444 complaints related to clothing and textile products sold through livestream commerce on platforms such as YouTube, Instagram, TikTok, Naver Band and Facebook from 2022 through June 2025. The number of grievances has grown e

September 12, 2025

Hyundai says immigration crackdown will delay Georgia battery plant by 2-3 months

SEOUL, September 12 (AJP) - Hyundai Motor’s top U.S. executive said Friday that construction of its $7.6 billion battery plant in Georgia will be pushed back by at least two to three months. Jose Munoz, Hyundai Motor’s global president and chief operating officer, said raids at the construction site created staffing shortages as some workers returned to South Korea following mass detentions. “For the construction phase of the plants, you need to get specialize

September 12, 2025

Korea goes all-out to pull slumbering 30s back into the labor market

SEOUL, September 11 (AJP) - U.K.-educated Koo turned 30 this year but still cannot dream of moving out of her parents’ home in Seoul after repeated job rejections. “Once you miss the usual hiring window, it gets harder each year and many peers end up stuck like me,” said Koo, who asked not to be fully named. After studying fashion in Britain for three years, Koo returned home and searched for work for more than a year. She gave up after repeated denials in th

September 11, 2025

Hanwha Ocean positions itself at center of Korea-US maritime ties

Editor's Note: This article is the 35th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, September 10 (AJP) - Hanwha Ocean, the South Korean shipbuilder once known as Daewoo Shipbuilding & Marine Engineering, is staking its future on a bold wager: reviving America’s long-dormant shipbuilding industry. The company announced a $5 billion inves

September 11, 2025

Humanoid robots promise cheaper cars. Are they ready for assembly lines?

SEOUL, September 10 (AJP) - Cars glide down the assembly line with the practiced rhythm of human workers moving in unison in ordinary automotive plants. But if a new vision of the future proves correct, those workers may soon be replaced by machines that look uncannily like them. Humanoid robots — once confined to science fiction and corporate stage shows — are being recast as the next frontier of industrial labor. And according to a recent analysis by Samsung Secur

September 11, 2025

South Korea launches task force to fast-track offshore wind projects

SEOUL, September 10 (AJP) - The South Korean government has launched a new task force aimed at accelerating the deployment of offshore wind power, a strategic move to boost energy security and support the nation's growing, AI-driven economy. The pan-government task force, led by the Ministry of Trade, Industry and Energy, held its first meeting on Wednesday, bringing together various ministries to address major bottlenecks hampering projects, including complex permitting process

September 10, 2025

KOSPI hits record high on hopes of US rate cuts, tax relief

SEOUL, September 10 (AJP) - South Korea’s benchmark KOSPI index closed at a record high on Wednesday, lifted by heavy foreign and institutional buying amid optimism about potential U.S. interest rate cuts and speculation that the government may ease capital gains taxes for large shareholders. The KOSPI gained 54.48 points, or 1.7 percent, to finish at 3,314.53, surpassing the previous record set more than four years ago. Foreign investors led the rally, with net purchases

September 10, 2025