LG Electronics solidifies lead in premium TV market in Europe

SEOUL, May 22 (AJP) - LG Electronics has surpassed 10 million OLED television sales in Europe, a milestone that underscores the South Korean tech giant’s continued dominance in the region’s premium TV segment. The achievement, reached in April 2025, comes 12 years after LG first brought OLED (organic light-emitting diode) technology to market in 2013. While it took eight years to reach the first 5 million units sold, the company doubled that number in just four years.

May 22, 2025

Wine tasting contest underway in Seoul

SEOUL, May 22 (AJP) - Lotte Department Store announced on Thursday the return of its popular blind wine tasting event, “The V:lind." Inspired by the famed 1976 Judgment of Paris — where a panel of French judges, in a blind tasting, ranked California wines above their French counterparts — Lotte’s initiative aims to elevate consumer appreciation through taste alone, stripping away biases tied to origin or price. This year’s edition has expanded i

May 22, 2025

SK hynix develops new mobile storage solution aimed at powering on-device AI

SEOUL, May 22 (AJP) - SK hynix has developed a new mobile storage solution based on its latest NAND flash technology, positioning the product as a key component for next-generation smartphones powered by artificial intelligence, the firm said Thursday. The company’s latest offering is a Universal Flash Storage (UFS) 4.1 solution built using its 321-layer 1-terabit Triple Level Cell (TLC) 4D NAND flash — the tallest NAND stack produced to date, according to SK hynix. T

May 22, 2025

Job creation in South Korea falls to record low

SEOUL, May 22 (AJP) - South Korea’s job market has continued its downward spiral, with the number of new positions falling to the lowest level, highlighting the deepening strain on the country's economy and labor force. According to data released Thursday by the Korean Statistical Information Service, only 2.44 million new jobs were created in the fourth quarter of 2024 — down from 2.55 million in the same period a year earlier. The decline marks the 11th consecut

May 22, 2025

GS charts new course with digital pivot, generational shift

Editor's Note: This article is the 19th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, May 21 (AJP) - As it marks its 20th anniversary this year, GS Group — one of South Korea’s largest conglomerates — is doubling down on digital transformation in a bid to reverse slowing growth and streamline operations in an increasingly volatile ec

May 22, 2025

LG Electronics inks deal to supply commercial washing machines in US, Canada

SEOUL, May 21 (AJP) - LG Electronics has signed a supply agreement with CSC ServiceWorks, North America’s largest provider of laundry solutions, marking a strategic move to expand its business-to-business home appliance operations in the region. The deal was formalized at a recent signing ceremony attended by Kim Sang-yong, executive vice president of LG Electronics USA’s Home & Life Solutions division, and Rodrigo Castellanos, chief executive of CSC ServiceWorks. Fi

May 21, 2025

K-beauty festival draws crowds to Seoul's Nodeul Island

SEOUL, May 21 (AJP) - South Korea’s largest celebration of K-beauty opened Wednesday at Nodeul Island in Seoul, as CJ Olive Young launched its annual Olive Young Festa, showcasing 108 brands across 84 booths in a sprawling five-day outdoor festival. Now in its latest iteration, the 2025 Olive Young Festa represents a significant expansion of the event, which has traditionally been held indoors. "This is more than a beauty exhibition — it’s a space for con

May 21, 2025

CJ CheilJedang showcases Korean cuisine at National Restaurant Association Show

SEOUL, May 21 (AJP) - CJ CheilJedang, one of South Korea’s leading food manufacturers, showcased its signature Korean culinary products at the 2025 National Restaurant Association Show, held May 17–20. The 106th iteration of the world’s largest foodservice exhibition drew approximately 50,000 attendees and featured 2,225 companies across 900 product categories, serving as a global stage for emerging trends and innovations in the food industry. CJ CheilJedang ope

May 21, 2025

FDA conducts inspection of Samsung Biologics production facilities

SEOUL, May 21 (AJP) - Inspectors from the U.S. Food and Drug Administration have begun a formal inspection of Samsung Biologics’ production facilities in Songdo, Incheon, according to industry sources, Wednesday. The inspection, which commenced on Monday and is scheduled to run through May 27, is focused on evaluating the company’s manufacturing processes. FDA officials visited Plants 3 and 4 on Tuesday, conducting what sources described as an "unusually detailed

May 21, 2025

Amorepacific's Hera expands custom makeup service as international demand soars

SEOUL, May 20 (AJP) - Hera, a contemporary beauty brand under South Korea’s Amorepacific, is expanding its personalized cosmetics offering as international demand for bespoke makeup continues to surge. The brand’s popular Custom Match program will now include its flagship Black Cushion foundation, offering hundreds of shade variations tailored to individual skin tones. Launched as a reservation-based service for custom lipsticks and foundation, Custom Match has seen a

May 20, 2025