Korean retailers scramble as US ends duty-free imports on small packages

SEOUL, September 02 (AJP) - South Korean online retailers are rushing to adapt after the United States eliminated a duty-free exemption for packages under $800, a move that threatens to raise costs and dampen demand in one of their most important overseas markets. Beginning Aug. 29, American consumers ordering from Korean platforms face a 15 percent tariff on purchases that had previously entered the country without customs duties. The policy shift, announced by the Trump admin

September 2, 2025

KT, LG Uplus reject hacking claims while government probes possible leaks

SEOUL, September 2 (AJP) - South Korea’s Ministry of Science and ICT has opened an investigation into possible hacking incidents at telecommunications firms KT and LG Uplus, after earlier security lapses at rival SK Telecom raised alarm about vulnerabilities in the industry. The ministry said Tuesday it had begun an in-depth review after receiving materials from both carriers during on-site inspections. Officials said they would disclose the findings publicly if evidence of br

September 2, 2025

U.S. tariffs on Chinese batteries open door for Korean battery firms

SEOUL, September 01 (AJP) - The United States plans to sharply raise tariffs on Chinese-made energy storage system batteries, a move that could reshape the fast-growing American clean energy market and give South Korea’s battery makers an opening to expand. The Commerce Department said tariffs on Chinese ESS batteries, already steep at 40.9 percent, will climb to 58.4 percent in 2026. The increase stems largely from Section 301 trade penalties, which will rise from 7.5 perce

September 1, 2025

Samsung Electronics retains lead in India's TV market

SEOUL, September 01 (AJP) - Samsung Electronics strengthened its grip on India’s television market in the first half of 2025, holding a 23.8 percent share by shipment volume and extending its run as the top seller for a ninth consecutive year, according to data released Monday by the research firm Omdia. Samsung first captured the No. 1 spot in India in 2017 and has kept it ever since, fending off challenges from both domestic and Chinese competitors. LG Electronics ranke

September 1, 2025

Chinese milk tea chains push into South Korea's coffee-saturated market

SEOUL, September 1 (AJP) - South Korea has long been known as a “coffee republic,” with one of the world’s highest concentrations of cafes per capita. But a wave of Chinese milk tea brands is challenging that dominance, betting that young Korean consumers are ready for a new kind of drink culture. ChaPanda, a fast-growing Chinese beverage chain listed in Hong Kong, disclosed last week that South Korea had become its largest overseas market, accounting for nearly ha

September 1, 2025

US tightens grip on Korean chipmakers' China operations

SEOUL, September 01 (AJP) - For years, Samsung Electronics and SK hynix, the two South Korean giants that dominate the global memory chip market, operated their Chinese factories with a special privilege. A designation from Washington allowed their plants to import the American equipment essential for advanced semiconductor production without the usual licensing hurdles, insulating them from the turbulence of U.S.-China trade disputes. That privilege is about to vanish. On Sat

September 1, 2025

Ulsan signs deal to build hydrogen plant

SEOUL, September 01 (AJP) - Ulsan City said Monday that it had signed an agreement with Deokyang Energen, a fuel gas and pipeline company, to build a hydrogen production and distribution center, as the city seeks to cement its role as a leader in the nation’s hydrogen economy. Under the memorandum of understanding, Deokyang Energen will invest 22 billion won, or about $15.9 million, to construct the facility by October 2026 in Hwangseong-dong, within the Ulsan Mipo National

September 1, 2025

S. Korean households cut food spending to nine-year low amid persistent inflation

SEOUL, September 1 (AJP) - South Korean households reduced their food spending to the lowest level in nearly a decade, as high prices forced families to cut back even on basic groceries. Adjusted for inflation, monthly household spending on food and nonalcoholic beverages fell 1 percent in the second quarter from a year earlier, to 341,000 won, or about $245, according to government data released on Monday. That was the lowest level since 2016. In nominal terms, spending rose 1.8

September 1, 2025

Apple's slimmest iPhone ever set for release next month, with tariffs casting uncertainty over sales in South Korea

SEOUL, August 31 (AJP) - Apple will release a new series of iPhones and other devices next month, including the thinnest iPhone ever, with South Korea among the first batch of launch countries for the second consecutive year. According to industry sources, the tech giant is expected to unveil the iPhone 17 series including a super-slim "Air" model at its headquarters in Cupertino, California on Sept. 9. Apple, which for years had placed South Korea in the second or late

August 31, 2025

South Korea unveils record 728 trillion won budget with big bets on AI, R&D

SEOUL, August 29 (AJP) - South Korea’s government on Friday signed off on a record 728 trillion won ($524.3 billion) budget for 2026, an 8.1 percent increase over this year and the first major fiscal blueprint of President Lee Jae Myung’s administration. The spending plan marks a sharp break from the austerity policies of Lee’s predecessor, Yoon Suk Yeol, who kept budget growth near 2 to 3 percent. Instead, the new administration is seeking to jolt Asia’s fou

August 29, 2025