HD Hyundai to supply 230 electric forklifts to Venezuela's Polar Group

SEOUL, November 17 (AJP) - HD Hyundai Site Solutions has secured its largest electric forklift contract in Latin America, winning an order from Venezuela’s Polar Group. The company said Monday it will supply 230 electric forklifts to Polar, the country’s biggest food producer, with deliveries scheduled through January 2026. The deal, valued at more than 10 billion won, includes 178 units in the 2-ton class and 52 heavier models in the 3-ton and 4.5-ton ranges. HD

November 17, 2025

Hyundai Glovis completes shipment of tanks, howitzers to Poland

SEOUL, November 17 (AJP) - Hyundai Glovis, the logistics arm of Hyundai Motor Group, said Monday it has completed another shipment of South Korean-made military equipment to Europe, as the company expands its role in the region’s defense supply chain. The company delivered 20 K2 main battle tanks built by Hyundai Rotem and 21 K9 self-propelled howitzers produced by Hanwha Aerospace to the Polish port of Gdansk on Nov. 13. The hardware was transported aboard Hyundai Glovis&

November 17, 2025

KOSPI defies overall subdued mood in Asia, friction weighs over Tokyo and Shanghai

SEOUL, November 17 (AJP) - South Korea’s stock market opened the week on a strong note Monday, lifted by easing concerns over an AI bubble ahead of Nvidia’s quarterly results and trade uncertainties with the United States, in contrast to the subdued sentiment across most of Asia. As of 9:03 a.m., the KOSPI was up 1.7 percent at 4,079.41, while the tech-heavy Kosdaq added 0.6 percent to 903.26. Market heavyweights led the advance, with Samsung Electronics jumping 3.7 percent to 1

November 17, 2025

South Korea elected chair of key global food standards committee

SEOUL, November 17 (AJP) - South Korea has been elected chair of the Codex Committee on Processed Fruits and Vegetables, securing a larger role in shaping global food rules at the 48th Codex Alimentarius Commission meeting held in Rome from Nov. 10 to 14. The appointment coincides with the commission’s approval of South Korea’s proposal to add the term “kimchi cabbage” to international standards for kimchi — a move officials say strengthe

November 17, 2025

Korea's bakery hotspot London Bagel chain moves to fix working conditions

SEOUL, November 17 (AJP) - LBM, the operator of South Korea’s bakery hotspot London Bagel Museum and now under expansive investigation over alleged labor abuses, on Monday unveiled a comprehensive set of remedial measures to improve working conditions. The initiative focuses on bolstering job stability, enforcing compliance with legal working hours, and upgrading store-level safety and health systems. Repeatedly apologizing to employees and customers, CEO Kang Kwan-gu

November 17, 2025

South Korea targets AI, R&D collaboration in broader ASEAN strategy

SEOUL, November 17 (AJP) - South Korea is seeking to upgrade its free trade agreement with the Association of Southeast Asian Nations (ASEAN) to strengthen digital trade and ease regulatory hurdles for companies operating in the region, a senior government official said Monday. Yeo Han-koo, South Korea’s chief trade negotiator, said the government plans to prioritize the removal of non-tariff barriers that have slowed South Korean firms’ entry into fast-growing ASEAN

November 17, 2025

Korea's top conglomerates vow near $700 bn domestic investment, doubling US commitment

SEOUL, November 16 (AJP) - South Korea’s four largest conglomerates — Samsung, SK, Hyundai and LG — pledged more than 1,000 trillion won ($687 billion) in domestic investment over the next five years, vowing to build new AI, semiconductor and hydrogen hubs outside the capital region to counter concerns that Seoul’s $350 billion U.S. investment commitment could drain high-tech capacity and jobs from home. The massive investment plans were laid out during a two-hou

November 16, 2025

US Navy chief tours South Korean shipyards as MASGA project gears up

SEOUL, November 16 (AJP) - South Korea's leading shipbuilders, HD Hyundai Heavy Industries and Hanwha Ocean, said Sunday that U.S. Navy Chief Adm. Daryl Caudle visited their shipyards in the southern port cities of Ulsan and Geoje the previous day. His visit, accompanied by Kevin Kim, Chargé d'Affaires ad interim, and other officials, came just a day after South Korea and the U.S. released a joint fact sheet detailing their trade and security agreements, which inclu

November 16, 2025

Registrations of electric vehicles surpass 200,000 in South Korea this year

SEOUL, November 16 (AJP) - The number of registered electric vehicles in South Korea have exceeded over 200,000 units this year, the Ministry of Climate, Energy, and Environment said on Sunday. According to the ministry, 200,650 electric vehicles have been registered so far this year, surpassing the previous record of 164,486 set in 2022. The government's efforts to promote electric vehicles have driven sales from 100,000 units in 2021 to over 200,000 units in just four yea

November 16, 2025

Consumers turn to used cars as new compacts remain scarce

SEOUL, November 16 (AJP) - As the economic downturn deepens, consumers are turning to used cars, while new small and compact models stay off the market. According to sales figures released on Sunday by the country's five major automakers Hyundai, Kia, GM Korea, Renault Korea, and KG Mobility, the combined sales of small vehicles in the first ten months of this year stood at around 60,000 units, down 27.3 percent from the same period last year. If this trend continues, annual

November 16, 2025