South Korea downplays market fallout from US credit downgrade

SEOUL, May 19 (AJP) - South Korea’s Ministry of Economy and Finance convened an emergency meeting on Monday to evaluate the potential ripple effects of Moody’s downgrade of the United States’ sovereign credit rating, concluding that the impact on domestic markets would likely remain limited. The meeting, held via conference call and chaired by Vice Finance Minister Yoon In-dae, came two days after Moody’s Investors Service lowered the U.S. long-term issuer ra

May 19, 2025

Tech industry turns gaze to Taiwan as Computex 2025 opens

SEOUL, May 19 (AJP) - The global technology and semiconductor sectors are converging on Taiwan this week as Computex 2025, Asia’s largest information technology trade show, opens Tuesday with heightened anticipation surrounding a keynote address by Nvidia’s CEO Jensen Huang. The four-day event, organized by the Taiwan External Trade Development Council (TAITRA) and the Taipei Computer Association, will be held at the Taipei Nangang Exhibition Center. Roughly 1,400 compan

May 19, 2025

Korean grape exports soar to record high

SEOUL, May 19 (AJP) - South Korea’s grape exports surged to an all-time high in the first quarter of 2025, nearly doubling from the same period a year earlier, according to customs data released Monday. Export volume reached 1,412 metric tons between January and March, an 89.8 percent increase year-over-year, the Korea Customs Service said. Despite a decline in average prices — from 5,389 won per kilogram in March 2024 to 4,978 won this year — the total value of

May 19, 2025

Lotte Mart enters Singapore market through FairPrice partnership

SEOUL, May 16 (AJP) - Lotte Mart has entered the Singapore market through a strategic partnership with FairPrice, the city state’s largest retailer. The company opened its first store in the country this week, adopting a shop-in-shop format within the FairPrice Extra outlet at VivoCity, one of Singapore’s largest shopping malls. The launch marks Lotte Mart’s first expansion into a new Southeast Asian market in 17 years, following its entry into Vietnam and Ind

May 16, 2025

Korea's top companies see 17% increase in first quarter operating profits

SEOUL, May 16 (AJP) - South Korea’s largest corporations reported a sharp rise in operating profits in the first quarter of 2025, buoyed by a resurgence in the IT electronics sector, according to data released Friday by corporate tracker CEO Score. Among the nation’s top 500 companies, operating profits rose 17.1 percent year-over-year, climbing to 60.96 trillion won (approximately $44.6 billion) from 52.07 trillion won during the same period in 2024. The findings a

May 16, 2025

Presidential candidates vow to expand high-speed underground rail nationwide

SEOUL, May 16 (AJP) - Two leading contenders in South Korea’s upcoming presidential election have pledged to extend the country’s high-speed underground commuter rail system far beyond the capital, positioning rapid transit as a central campaign promise. Lee Jae-myung of the liberal Democratic Party and Kim Moon-soo of the conservative People Power Party both unveiled plans to expand the Great Train Express (GTX) system, a high-speed undergroun rail network in the Seou

May 16, 2025

Lip products lead charge in K-beauty innovation

Editor's Note: This is the third article in our series exploring the evolving landscape of the Korean beauty industry and the products that captivate international visitors. SEOUL, May 15 (AJP) - In the ever-evolving world of Korean beauty, or K-beauty, few items command as much attention as lip products. From the glossy aisles of Olive Young — the nation’s ubiquitous health and beauty chain — to social media feeds around the globe, Korean lipsti

May 16, 2025

Forum highlights AI being pushed into daily life

SEOUL, May 15 (AJP) - South Korea is rapidly integrating artificial intelligence into everyday life, marking a shift from early-stage development to practical applications, industry leaders said at a technology forum in Seoul on Thursday. At the 3rd Mega AI Forum, held at the Korea Exchange building in Yeouido, Seoul, government officials and corporate executives convened to examine the growing role of software robots and agent AI in society. The event was hosted by Aju Business Dai

May 15, 2025

Samsung Electronics collaborates on boy band RIIZE's debut album 'ODYSSEY'

SEOUL, May 15 (AJP) - Samsung Electronics has joined forces with RIIZE, a rising K-pop group under SM Entertainment, to promote the band's debut album, “Odyssey." The partnership includes the production of a 40-minute premiere video — unveiled Wednesday on the international fan platform Weverse — that features all 10 tracks from the upcoming album, set for release on May 19. The video weaves together coming-of-age narratives with appearances by se

May 15, 2025

Hyundai Motor to build first Middle East factory, eyes Saudi as regional hub

SEOUL, May 15 (AJP) - Hyundai Motor has begun construction on its first automobile manufacturing plant in the Middle East, part of a strategic push to establish Saudi Arabia as a central base for regional operations. The facility, named Hyundai Motor Manufacturing Middle East, is being built in King Abdullah City, within the King Salman Automotive Cluster. Groundbreaking took place Wednesday, with the start of production scheduled for the fourth quarter of 2026. The plant is a jo

May 15, 2025