Korea weighs US trade demands with economic impact study

SEOUL, May 28 (AJP) - South Korea has begun an economic feasibility study as part of ongoing trade consultations with the United States, signaling preparations for potential agreements that could carry broad implications for the country’s economy, according to government officials, Wednesday. The Ministry of Trade, Industry and Energy has commissioned the Korea Institute for International Economic Policy to assess the economic ramifications of current discussions with Washingt

May 28, 2025

Trump tariff relief lifts Korea's business sentiment temporarily

SEOUL, May 28 (AJP) - Business sentiment in South Korea posted its sharpest monthly increase in two years in May, bolstered by a temporary reprieve from U.S. trade tariffs, according to data released Wednesday by the Bank of Korea. Yet despite the surge, overall confidence remains mired below levels typically associated with economic optimism. The central bank’s composite business sentiment index (CBSI) climbed 2.8 points to 90.7 in May, marking its third consecutive monthl

May 28, 2025

Stablecoin push by candidates raises alarm among regulators, experts

SEOUL, May 28 (AJP) - South Korea’s leading presidential candidates have pledged to support the development of won-pegged stablecoins even as financial authorities urge caution. With an estimated 10 million South Koreans actively trading crypto, both front-runners have made digital asset policy central to their campaigns. Lee Jae-myung’s camp has formed a digital assets committee tasked with drafting comprehensive legislation, while Kim Moon-soo has proposed incorpora

May 28, 2025

HYBE sells SM Entertainment stake to China's Tencent Music

SEOUL, May 28 (AJP) - HYBE, South Korea’s largest entertainment company behind BTS, has sold its entire stake in rival agency SM Entertainment to China's Tencent Music Entertainment. In a regulatory filing, Tuesday, HYBE said it would offload its 9.38 percent stake — totaling about 2.2 million shares — to Tencent Music, a subsidiary of China’s internet giant Tencent. The shares were sold at 110,000 won apiece, bringing the total transaction to approx

May 28, 2025

Lee Jae-myung's labor agenda could face resistance from chaebol, foreign firms

Editor's Note: This is the second and last in a two-part series examining the economic campaign promises of Democratic Party presidential candidate Lee Jae-myung. SEOUL, May 27 (AJP) - South Korea's leading presidential candidate Lee Jae-myung of the Democratic Party has vowed to overhaul the country’s labor system and market practices in a bold attempt to forge what he calls a “basic society." Speaking days after a fatal industrial accident at an SPC bak

May 28, 2025

Leferi's K-beauty pop-up blends influencer power with retail strategy

SEOUL, May 27 (AJP) - As beauty creator LeoJ looked out over the sleek new pop-up store in Seoul’s fashionable Seongsu neighborhood, he explained his approach to choosing products that balance accessibility with impact. “I tend to choose popular picks that are easy for beginners to use but show dramatic and immediate effects,” said LeoJ, who has 1.41 million subscribers on YouTube and served as one of the co-curators for the store. “We’re targeting pe

May 27, 2025

South Korea probes Chinese solar inverters amid security concerns

SEOUL, May 27 (AJP) - The South Korean government has launched a review of the nation’s solar inverter market as concerns mount globally over the security risks posed by Chinese-made energy equipment. The Ministry of Trade, Industry and Energy said Tuesday that it convened a meeting last week with major domestic solar companies — including Hanwha Q Cells, Hyundai Energy Solutions, and Hyosung Heavy Industries — to assess the state of the country’s solar inv

May 27, 2025

Bill proposed to curb foreign real estate purchases amid surge in Chinese investment

SEOUL, May 27 (AJP) - A South Korean lawmaker has introduced legislation aimed at curbing foreign real estate acquisitions in the greater Seoul area, citing a sharp rise in Chinese purchases that he says are fueling speculation and distorting the housing market. Representative Koh Dong-jin of the ruling People Power Party submitted the bill to the National Assembly on Tuesday, proposing mandatory reciprocity measures and new permit requirements for non-citizens seeking to buy land i

May 27, 2025

LG unveils eco-friendly 'Marine Glass' to restore ocean ecosystems

SEOUL, May 27 (AJP) - LG Electronics announced Tuesday that it has developed a new functional glass material, dubbed “Marine Glass,” intended to foster the growth of marine organisms and aid in the restoration of ocean ecosystems. The firm has signed a partnership with the Blue Carbon Business Group at Seoul National University to launch pilot projects employing the innovative, water-soluble glass powder. According to LG, Marine Glass dissolves in seawater, gradually

May 27, 2025

Google's new smart glasses boast extensive AI capabilities

SEOUL, May 27 (AJP) - Google has re-entered the smart glasses market with a new prototype of XR-enabled smart glasses, unveiled at the Google I/O 2025 conference on May 20. The device aims to blend cutting-edge artificial intelligence with mainstream wearability and a fashion-forward design, showcasing a significant leap in functionality compared to previous attempts. The prototype features an embedded transparent display on the right lens, integrated with a camera, microphone,

May 27, 2025