Samsung-Google partnership revives interest in smart glasses

SEOUL, May 27 (AJP) - Google’s announcement of a smart glasses collaboration with Samsung Electronics at its annual developer conference has injected new life into the extended reality (XR) market, following a period of waning consumer and investor enthusiasm. The partnership marks a significant push by two of tech’s most influential players to regain momentum in the XR sector, a broad category that encompasses augmented reality (AR), virtual reality (VR), and other tech

May 27, 2025

OpenAI sets up South Korean subsidiary

SEOUL, May 26 (AJP) - OpenAI said on Monday that it has established a Korean subsidiary and plans to open its first office in Seoul in the coming months. The move is part of the company’s broader international strategy, dubbed “OpenAI for Countries,” which aims to deepen partnerships and infrastructure investments worldwide. Over the past year, OpenAI has opened offices in 11 cities, including London, Dublin, Brussels and Paris. Seoul will join Tokyo and Singapo

May 26, 2025

Amorepacific taps Daiso to launch new men's grooming brand

SEOUL, May 26 (AJP) - South Korea’s largest cosmetics maker Amorepacific has rolled out Monday a new cosmetics line for men through Daiso, the popular discount chain, aiming to reach younger male consumers who are just beginning to explore skincare and grooming. The cosmetics maker said in a statement that its new brand, called “Prep by B.READY,” is geared toward men in their 20s and 30s. “The brand targets male customers who are new to styling,” th

May 26, 2025

Homeplus lease terminations leave small businesses in limbo

SEOUL, May 26 (AJP) - Homeplus, a South Korean retail chain undergoing court-supervised restructuring, has begun notifying landlords of plans to terminate leases at 17 stores, deepening uncertainty for hundreds of small businesses operating within those locations. The potential closures span major metropolitan areas, including Seoul, Incheon, and Busan, and affect stores in Gayang, Ilsan, Siheung, Jamsil, and other key commercial districts. An estimated 200 to 300 small businesses o

May 26, 2025

Subscriber exodus accelerates at SK Telecom following security breach

SEOUL, May 26 (AJP) - South Korea’s largest mobile carrier, SK Telecom, has raised device subsidies and sales incentives in an urgent attempt to stem a wave of customer defections triggered by a widespread security breach and logistical failures earlier this month. The telecom provider reportedly increased its official subsidies for Samsung’s Galaxy S25 smartphones to 680,000 won (about $510) and for Apple’s iPhone 16 Pro and Pro Max models to 650,000 won. With a

May 26, 2025

South Korea launches $29 billion battery storage initiative

SEOUL, May 26 (AJP) - South Korea has launched its most ambitious energy storage initiative yet, opening the door to what officials estimate could become a $29 billion market by 2038 — offering a much-needed boost to domestic battery manufacturers grappling with a global slowdown in electric vehicle demand. The Ministry of Trade, Industry and Energy unveiled plans for a nationwide tender to install 540 megawatts of battery energy storage systems (BESS), marking the country'

May 26, 2025

Sales of air conditioners surge amid early heat wave

SEOUL, May 25 (AJP) - Samsung Electronics sold more than 10,000 air conditioners per day over the past week, as demand surged ahead of another scorching summer, the electronics giant said on Sunday. Samsung said the daily sales of its air conditioners surpassed the 10,000 mark over the last five days, up over 30 percent from the same period last year. The milestone came about a month earlier than last year, when it was set in mid-June. The early arrival of hot weather may have ru

May 25, 2025

Trump threatens 25 percent smartphone tariffs, 50 percent EU duties

SEOUL, May 24 (AJP) - President Donald Trump on Saturday threatened to impose a 25 percent tariff on all smartphones manufactured overseas, including Apple iPhones and Samsung devices, while also warning the European Union of a 50 percent tariff on goods starting June 1. Speaking to reporters in the Oval Office, Trump expanded his initial threat against Apple to include all smartphone manufacturers selling devices in the United States that are not produced domestically. "It wou

May 24, 2025

With creator power, Leferi opens flagship K-beauty pop-up store

SEOUL, May 23 (AJP) - Leferi, a global beauty retail company known for its management of online beauty creators, inaugurated its largest retail space to date on Thursday with the opening of “Select Store – THE BEAUTY UNIVERSE” in Seongsu-dong, Seoul. The store, spanning 300 square meters within the XYZ Seoul complex, marks a strategic expansion for the company. For the first time, Leferi is featuring a trio of top-tier beauty influencers — LeoJ (1.41 million

May 23, 2025

HD Hyundai Electric to supply high-voltage transformers to Scottish firm

SEOUL, May 23 (AJP) - HD Hyundai Electric, a subsidiary of South Korea’s HD Hyundai specializing in power equipment and energy solutions, announced on Friday that it has secured a contract to supply four ultra-high voltage transformers to SP Energy Networks, a major utility in Scotland. The agreement marks HD Hyundai Electric’s first foray into the Scottish market. Key representatives from both companies attended the signing ceremony, including Cho Seok, vice chairman of

May 23, 2025