Despite drone boom, South Korea lags behind amid heavy reliance on Chinese components

SEOUL, November 14 (AJP) - South Korea's exports of drones have grown nearly tenfold over the past two years, yet the country still holds less than 0.5 percent of the global market. According to a report released on Friday by the Korea International Trade Association (KITA), the country's exports of drones surged from $2.81 million in 2022 to $27.54 million in 2024. "Despite the rise in export volumes, the country's market competitiveness still lags far behind th

November 14, 2025

HOT STOCK: ABL Bio extends rally as Eli Lilly deal spurs biotech optimism

SEOUL, November 14 (AJP) - Shares of South Korean biotech company ABL Bio rose 6.5 percent Friday to 174,200 won ($119), extending a three-day rally that has propelled the stock into the top tier of the local market. At one point during trading, the stock jumped more than 17 percent. The surge follows ABL Bio’s announcement Wednesday of a major licensing agreement with U.S. pharmaceutical giant Eli Lilly. The deal, which could ultimately be worth up to 3.8 trillion won ($

November 14, 2025

Samsung showcases AI-powered 6G communication in Silicon Valley

SEOUL, November 14 (AJP) - Samsung Electronics on Friday hosted the Silicon Valley Future Wireless Summit 2025, showcasing its latest strides in artificial intelligence-driven communication systems and reaffirming its position at the forefront of next-generation 6G technology. The event drew more than 100 leaders from global telecom carriers, equipment manufacturers, government agencies, and academia. Samsung used the summit to present its advances in AI-native communication sy

November 14, 2025

Asian stocks tumble as Wall Street tech selloff, Fed uncertainty weigh on region

SEOUL, November 14 (AJP) - Asian markets tumbled on Friday, dragged down by a sharp selloff in Wall Street’s biggest technology names and growing doubts over the Federal Reserve’s timetable for cutting interest rates. South Korea bore the brunt of the regional downturn. The benchmark KOSPI plunged 3.81 percent to close at 4,011.57, marking the steepest decline among major Asian indexes. Foreign investors offloaded 2.36 trillion won, or about $1.6 billion, in Kore

November 14, 2025

Beloved bagel chain becomes flashpoint in Korea's labor reckoning

SEOUL, November 14 (AJP) - On most mornings, the line outside London Bagel Museum used to stretch down the block, a testament to the artisanal bakery chain’s grip on South Korea’s cafe-obsessed culture. Now the street is quiet, its pause in foot traffic reflecting a deeper national unease. The sudden death of a 26-year-old employee at the chain has ignited a furious backlash over long-standing labor abuses in the country’s food and beverage sector, where exacting

November 14, 2025

US to cap tariffs on Korean pharmaceuticals at 15 percent

SEOUL, November 14 (AJP) - The United States has agreed to cap tariffs on South Korean pharmaceutical products at 15 percent, offering welcome relief to an industry that had faced threats of tariffs as high as 100 percent. The commitment was outlined in a joint fact sheet issued Friday (KST) by the White House and South Korea’s presidential office, following last month’s bilateral summit. The document states that Washington will ensure tariffs on Korean pharmaceutical go

November 14, 2025

South Korea tightens quarantine on Chinese poultry after detecting avian influenza genes

SEOUL, November 14 (AJP) - South Korea has tightened inspections on processed poultry from China after the country’s quarantine authority detected genes linked to avian influenza in a shipment of duck ham. The Animal and Plant Quarantine Agency said Friday that the 21-ton shipment, imported on Nov. 2, tested positive for AI genetic material during routine screening. Officials emphasized that the finding did not involve a live virus and posed no risk of infection. The pr

November 14, 2025

HMM's $2.8 billion value slide fuels talk of POSCO takeover

SEOUL, November 14 (AJP) - HMM's market value has fallen by more than 4 trillion won ($2.8 billion) in the past five months, sharpening speculation that POSCO Holdings could soon move to acquire South Korea's largest container line as the carrier struggles with collapsing freight rates and a steep drop in profits. POSCO signaled last month during its third-quarter earnings call that a potential deal remained in its "early review" phase and that no significant progr

November 14, 2025

KAI, Samsung team up to develop AI chips for defense systems

SEOUL, November 14 (AJP) - Korea Aerospace Industries has formed a strategic partnership with Samsung Electronics to develop next-generation semiconductors for defense applications. KAI said Friday that it had signed a memorandum of understanding with Samsung at its headquarters in Sacheon, South Gyeongsang Province, to cooperate on the research, design and production of artificial intelligence and radio-frequency chips for aerospace and defense systems. The companies plan to

November 14, 2025

South Korea's import prices surge to 9-month high on weak won

SEOUL, November 14 (AJP) - South Korea’s import prices rose in October to their highest level in nine months, pushed up by a sharp depreciation of the won. Export prices climbed even more steeply, reflecting both currency effects and strengthening demand for semiconductors and metals. Data released Friday by the Bank of Korea showed that import prices increased 1.9 percent in October from the previous month, the fastest pace since January, after modest 0.3 percent gains i

November 14, 2025