South Korea to introduce fast-track immigration lanes for foreign executives

SEOUL, August 26 (AJP) - South Korea will open expedited immigration lanes for foreign business executives at Incheon International Airport starting Aug. 31, in a pilot program aimed at strengthening the country’s appeal as a regional business hub. The lanes, which will operate through December, are intended to shorten wait times for foreign travelers using staffed immigration counters, the Ministry of Land, Infrastructure and Transport said Tuesday. On average, foreigners

August 26, 2025

South Korean, US firms sign wide-ranging deals during Lee's Washington visit

SEOUL, August 26 (AJP) - South Korean and American companies signed 11 agreements and memorandums of understanding across shipbuilding, nuclear energy, aviation, liquefied natural gas and critical minerals during President Lee Jae Myung’s visit to Washington. The agreements were announced at a Korea–U.S. Business Roundtable on Monday at Washington D.C. (local time), attended by South Korea’s Trade Minister, Kim Jung-kwan, and U.S. Commerce Secretary Howard Lutnic

August 26, 2025

South Korean consumer confidence reaches 8-year high

SEOUL, August 26 (AJP) - South Korean consumer confidence rose in August to its highest level in nearly eight years, buoyed by stronger household spending and robust exports, according to central bank data released Tuesday. The Bank of Korea’s Composite Consumer Sentiment Index edged up to 111.4 in August from 110.8 the previous month, the fifth straight monthly gain. The reading was the highest since January 2018, when the index stood at 111.6. A score above 100 signals op

August 26, 2025

Softbank sheds $1.6 billion stake in Coupang amid push into AI

SEOUL, August 26 (AJP) - SoftBank, the Japanese technology investment giant, has unloaded nearly $1.65 billion worth of shares in Coupang, South Korea’s largest e-commerce platform, as it continues to pare back its holdings in the company. According to a filing with the U.S. Securities and Exchange Commission, SoftBank sold 20 million Coupang shares on Aug. 20 at the New York Stock Exchange, raising about $576.8 million. The sale followed two earlier transactions this yea

August 26, 2025

Hyundai Motor to add $5 billion to US investment, bringing total to $26 billion

SEOUL, August 26 (AJP) - Hyundai Motor Group said on Tuesday it would commit an additional $5 billion to its U.S. operations, expanding its planned investment through 2028 to $26 billion. The announcement coincided with the South Korea–U.S. summit between Lee Jae Myung and Donald Trump. Hyundai, which had already pledged $21 billion in March, said the new funds would be directed toward steel, automobiles and robotics. Chairman Chung Eui-sun outlined the plan as part of

August 26, 2025

Trump pushes arms sales, energy exports to Seoul

SEOUL, August 26 (AJP) - U.S. President Donald Trump pressed South Korea on defense spending, energy imports and industrial cooperation during a meeting with South Korean President Lee Jae Myung at the White House on Monday, underscoring his emphasis on weapons sales and American energy exports. Trump, speaking in the Oval Office, cast South Korea as a reliable buyer of U.S. military hardware and suggested that expanding defense sales would be a central focus of the partnership.

August 26, 2025

Lee, Trump will strengthen shipbuilding cooperation under 'MASGA' initiative

SEOUL, August 26 (AJP) - South Korea’s President Lee Jae Myung and U.S. President Donald Trump and on Monday (local time) pledged to expand cooperation in shipbuilding, with Trump endorsing a sweeping South Korean proposal aimed at reviving America’s long-declining industry. At their first summit meeting at the White House, Trump voiced support for what Seoul has branded the “Make American Shipbuilding Great Again” initiative, or MASGA — a $150 billion

August 26, 2025

LocknLock sets up subsidiary in India

SEOUL, August 25 (AJP) - LocknLock, the South Korean lifestyle products maker best known for its food storage containers and tumblers, said Monday it has established a subsidiary in India, part of its broader effort to deepen its reach in emerging markets. The Mumbai-based unit will focus on developing products tailored to Indian consumers, including a localized version of the company’s Metro tumbler line, which is marketed on its use of safe materials and minimalist design.

August 25, 2025

Hyundai Motor's Ioniq 9 defies slump in global EV sales

SEOUL, August 25 (AJP) - Hyundai Motor’s latest electric sport utility vehicle, the Ioniq 9, has sold nearly 15,000 units worldwide in the six months since its debut, the company said Monday. The large SUV, a centerpiece of Hyundai Motor Group’s collaboration with battery maker SK On, recorded 14,391 sales across domestic and international markets through July, the company said. The vehicle was first released in South Korea in February. The performance stands out agai

August 25, 2025

[K-Tech] SK hynix begins mass production of next-generation NAND chip with 321 layers

SEOUL, August 25 (AJP) - SK hynix said Monday it has started mass production of a 321-layer NAND flash memory chip, a development the company described as a world first in quad-level cell, or QLC, technology. NAND flash, a type of non-volatile memory that retains data even without power, is a critical component in solid-state drives and data centers. QLC technology, which stores four bits of information in a single cell, allows for greater density but typically comes with trade-of

August 25, 2025