Samsung Electronics sees surge in AI appliance sales

SEOUL, June 10 (AJP) - Samsung Electronics reported a sharp rise in sales of its flagship artificial intelligence-powered home appliances in the first five months of 2025. The company said sales of its AI-enhanced air conditioners, refrigerators, and washing machines grew significantly year-over-year between January and May, underscoring growing consumer appetite for connected, adaptive home devices. Sales of Samsung’s AI air conditioners — including both stand-alon

June 10, 2025

Musinsa aims to be gateway for Korean fashion abroad

SEOUL, June 10 (AJP) - South Korean fashion platform Musinsa on Tuesday unveiled an ambitious international expansion strategy, aiming to position itself as the leading conduit for domestic fashion brands seeking global markets. At a press briefing held at Dongdaemun Design Plaza in Seoul, CEO Park Jun-mo said the time is ripe for Korean fashion to capitalize on the global popularity of Korean culture. He noted that despite the international success of K-pop, television dramas, an

June 10, 2025

President Lee to meet corporate leaders this week

SEOUL, June 10 (AJP) - President Lee Jae-myung is set to hold his first meeting with the heads of largest conglomerates this week. The meetings are expected to take place Thursday or Friday at the presidential office in Yongsan, ahead of Lee’s departure for the Group of Seven summit in Canada, scheduled for June 15 to 17. The agenda is expected to focus on current economic challenges and the administration’s policy priorities. According to business people briefed on

June 10, 2025

Bank of Korea sounds alarm as won-backed stablecoin momentum builds

SEOUL, June 10 (AJP) - As interest in won-denominated stablecoins intensifies, the Bank of Korea is cautioning that a premature rollout could jeopardize the nation’s monetary stability. Central bank officials say that without carefully designed regulations, stablecoins could pose systemic risks and weaken the South Korean currency's status as legal tender. In response, the Bank of Korea will host a high-profile conference on July 1 to address the implications of stablec

June 10, 2025

Doosan Enerbility signs $650 million deal to build gas-fired power plant in Vietnam

SEOUL, June 10 (AJP) - South Korean energy company Doosan Enerbility has secured a contract valued at approximately 900 billion Korean won, or $650 million, to build a major gas-fired power plant in southern Vietnam, in partnership with the state-owned Petrovietnam. The agreement, signed on June 6 in Hanoi, marks one of the largest foreign energy infrastructure deals in Vietnam this year. The project involves construction of a combined cycle gas turbine power plant, located rou

June 10, 2025

Shinsegae scion to debut in K-pop group

SEOUL, June 09 (AJP) - Moon Seo-yoon, the eldest daughter of Shinsegae International President Chung Yoo-kyung and a scion of one of South Korea’s most prominent retail dynasties, is set to debut as a K-pop idol later this month. Moon, 22, will perform under the stage name Annie as a member of ALLDAY PROJECT, a five-member co-ed group managed by The Black Label, a prominent music agency known for representing artists such as Taeyang of Big Bang and Rose of Blackpink. The group

June 9, 2025

Daiso's budget cosmetics find devoted following

Editor's Note: This is the fourth article in our series exploring the evolving landscape of the Korean beauty industry and the products that captivate international visitors. SEOUL, June 09 (AJP) - In South Korea’s bustling beauty market, a surprising contender has quietly become a cultural force: Daiso, the ultra-low-cost retailer known more for household goods than cosmetics. The chain, beloved by locals and tourists alike, is defying expectations — and industry

June 9, 2025

South Korean manufacturers accelerate shift to smart factories

SEOUL, June 09 (AJP) - As industries worldwide undergo sweeping technological and structural shifts, manufacturers are redefining production at its core. Nowhere is this transformation more pronounced than in South Korea, where industrial heavyweights, such as Samsung, Hyundai and LG, are rapidly embracing the smart factory — an integrated, data-driven model reshaping global manufacturing norms. From intelligent communications to AI-driven production lines, the South Kore

June 9, 2025

Samsung maintains lead in European microwave market for 10th straight year

SEOUL, June 09 (AJP) - Samsung Electronics retained its position as the top-selling microwave brand in Europe for the 10th consecutive year in 2024, according to data from market research firm Euromonitor. The South Korean electronics maker captured a 12.8 percent share of the European market by sales volume, cementing its lead in a region it has dominated since 2015. The Euromonitor survey covered 19 European countries. Samsung attributed its continued success to a combination o

June 9, 2025

Naver bets on 'sovereign AI' with launch of Silicon Valley venture arm

SEOUL, June 09 (AJP) - South Korea’s largest internet company Naver introduced its new investment arm, Naver Ventures, at a networking event on June 5 at the Four Seasons Hotel in Palo Alto. The announcement marks a renewed push by the company to assert itself in the evolving artificial intelligence landscape — not by chasing the biggest players, but by charting a path rooted in specificity, sovereignty, and strategic restraint. The initiative was unveiled by Lee Ha

June 9, 2025