Business
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Korean regulator claims Novo Nordisk cut needle supply to boost obesity drug sales
SEOUL, June 26 (AJP) - South Korea’s antitrust regulator has issued a formal warning to Danish pharmaceutical giant Novo Nordisk for cutting off supplies of specialized insulin pen needles used by children with diabetes, in order to prioritize the production of its blockbuster obesity drug, Ozempic, government officials said on Thursday. The Korea Fair Trade Commission (KFTC) concluded that Novo Nordisk violated competition laws when it unilaterally terminated supply contracts
June 26, 2025 -
Neople workers launch Korea's first game industry strike
SEOUL, June 26 (AJP) - Employees at Neople, a key subsidiary of gaming giant Nexon and the developer of the popular Dungeon & Fighter franchise, have begun a strike, marking the nation’s first labor walkout in the gaming sector. The strike, which began on Wednesday, June 25, involves unionized workers from Neople’s Seoul office, who stopped reporting to work immediately. Employees at the company’s Jeju headquarters are joining on a staggered schedule —
June 26, 2025 -
China's Tencent expands global reach with gaming, AI, fintech at its core
Editor's Note: This article is the 24th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, June 26 (AJP) - Tencent Holdings is one of China’s most powerful technology companies. It reported revenue of 180.02 billion yuan ($25.1 billion) in the first quarter of 2025, marking a 13 percent increase from a year earlier. The company’s financial
June 26, 2025 -
Korea, Saudi Arabia launch joint initiative to help small companies
SEOUL, June 25 (AJP) - South Korea’s Ministry of SMEs and Startups (MSS) announced on Wednesday a new initiative aimed at helping small and medium-sized enterprises break into the rapidly evolving Saudi Arabian market. Starting July 7, the ministry will begin accepting applications from Korean companies interested in launching operations in Saudi Arabia under a government-backed program designed to overcome longstanding regulatory, cultural, and religious barriers. Despit
June 25, 2025 -
South Korean central bank warns of stablecoin risks to financial stability
SEOUL, June 25 (AJP) - South Korea’s central bank and the Bank for International Settlements (BIS) have raised fresh alarms over the systemic risks posed by the rapid rise of stablecoins, warning that widespread adoption could trigger destabilizing financial shocks and threaten monetary sovereignty. In its financial stability report released Wednesday, the Bank of Korea cautioned that stablecoins — cryptocurrencies pegged to traditional currencies — are vulnerable
June 25, 2025 -
'Stablecoins emerge as global financial trend'
SEOUL, June 25 (AJP) - Stablecoins are no longer a passing fascination but a defining trend in global finance, Hana Securities said in a report Wednesday. The Seoul-based brokerage described the rise of stablecoins as a shift “from theme to trend,” signaling a structural change in how markets view these blockchain-based assets. The report pointed to a confluence of factors — regulatory reforms, growing institutional interest, and the possible issuance of won-bac
June 25, 2025 -
Shinsegae's Jung Yong-jin tapped to lead Asia arm of Trump-linked Rockbridge Network
SEOUL, June 25 (AJP) - Shinsegae Group Chairman Jung Yong-jin is expected to take the helm of Rockbridge Asia, a new regional branch of the Rockbridge Network -- a powerful conservative political organization closely tied to former United States President Donald Trump and several key figures in his potential second administration. Multiple sources in South Korea's business and investment banking circles confirmed on Wednesday that Jung has agreed to lead Rockbridge's Asia
June 25, 2025 -
Hyundai E&C enters Finnish nuclear market, eyes more opportunities in northern Europe
SEOUL, June 25 (AJP) - Hyundai Engineering & Construction has taken a significant step into Northern Europe’s nuclear energy sector, signing a preliminary agreement to participate in a potential new nuclear power plant in Finland. The South Korean builder announced it had entered into an Early Works Agreement (EWA) on June 19 with Finland’s state-owned utility Fortum and Westinghouse Electric Company, the U.S.-based nuclear technology firm, in Helsinki. The agre
June 25, 2025 -
South Korea fails again in bid for MSCI Developed Market status
SEOUL, June 25 (AJP) - South Korea’s ambitions to join the ranks of the world’s developed financial markets faced another setback as MSCI declined once again to elevate the country from its emerging market classification. In its annual market classification review, the global index provider said South Korea would not be added to its watch list for a potential upgrade — effectively stalling any chance of reclassification until at least 2026. The decision also delays
June 25, 2025 -
South Korea to host US students in shipbuilding education program
SEOUL, June 24 (AJP) - South Korea will launch a new shipbuilding education program next year aimed at strengthening maritime industry ties with the United States by hosting American university students and faculty for short-term training. The initiative was announced Tuesday by the Ministry of Trade, Industry and Energy. Seoul National University, San Diego State University, and HD Korea Shipbuilding & Offshore Engineering signed a memorandum of understanding, outlining plan
June 24, 2025
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Trump may seek meeting with Kim Jong Un at Panmunjom during October APEC visit, says Victor Cha
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Ex-President Yoon fails to appear for another round of questioning by independent prosecutors
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Lee to hold press conference to mark 30 days in office
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Lee holds phone talks with Singapore PM
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Emart24 to launch first Korean convenience store in India this August
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INTERVIEW: Quebec sees South Korea as key trade partner in shifting global landscape
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Naver Cloud signs MOU with New Murabba to support Saudi Arabia's smart city ambitions
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Season's first heat wave advisory issued in Seoul
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New finance minister expected to drive AI-led fiscal reform
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Salaried workers to get fewer public holidays next year