Business
-
Shinsegae's Jung Yong-jin tapped to lead Asia arm of Trump-linked Rockbridge Network
SEOUL, June 25 (AJP) - Shinsegae Group Chairman Jung Yong-jin is expected to take the helm of Rockbridge Asia, a new regional branch of the Rockbridge Network -- a powerful conservative political organization closely tied to former United States President Donald Trump and several key figures in his potential second administration. Multiple sources in South Korea's business and investment banking circles confirmed on Wednesday that Jung has agreed to lead Rockbridge's Asia
June 25, 2025 -
Hyundai E&C enters Finnish nuclear market, eyes more opportunities in northern Europe
SEOUL, June 25 (AJP) - Hyundai Engineering & Construction has taken a significant step into Northern Europe’s nuclear energy sector, signing a preliminary agreement to participate in a potential new nuclear power plant in Finland. The South Korean builder announced it had entered into an Early Works Agreement (EWA) on June 19 with Finland’s state-owned utility Fortum and Westinghouse Electric Company, the U.S.-based nuclear technology firm, in Helsinki. The agre
June 25, 2025 -
South Korea fails again in bid for MSCI Developed Market status
SEOUL, June 25 (AJP) - South Korea’s ambitions to join the ranks of the world’s developed financial markets faced another setback as MSCI declined once again to elevate the country from its emerging market classification. In its annual market classification review, the global index provider said South Korea would not be added to its watch list for a potential upgrade — effectively stalling any chance of reclassification until at least 2026. The decision also delays
June 25, 2025 -
South Korea to host US students in shipbuilding education program
SEOUL, June 24 (AJP) - South Korea will launch a new shipbuilding education program next year aimed at strengthening maritime industry ties with the United States by hosting American university students and faculty for short-term training. The initiative was announced Tuesday by the Ministry of Trade, Industry and Energy. Seoul National University, San Diego State University, and HD Korea Shipbuilding & Offshore Engineering signed a memorandum of understanding, outlining plan
June 24, 2025 -
South Korea urged to deepen mineral ties with Africa
SEOUL, June 24 (AJP) - As tensions between the United States and China continue to roil global supply chains, especially those critical to the electric vehicle industry, South Korea is being urged to strengthen its strategic engagement with Africa to secure vital battery minerals. A report released Tuesday by the Korea International Trade Association (KITA) warns that growing geopolitical fragmentation threatens the stability of supply routes for key materials such as lithium, cob
June 24, 2025 -
Consumer sentiment in South Korea hits 4-year high
SEOUL, June 24 (AJP) - South Korea’s consumer confidence surged to a four-year high in June, lifted by optimism over the launch of a new government and expectations for a forthcoming supplementary budget, the central bank said Tuesday. The Bank of Korea reported that its Composite Consumer Sentiment Index (CCSI) rose to 108.7 in June, up 6.9 points from the previous month and marking the highest reading since June 2021, when the index reached 111.1. The latest increase repr
June 24, 2025 -
Asiana Airlines resumes Phuket flights after two-year suspension
SEOUL, June 24 (AJP) - Asiana Airlines will resume its daily service between Incheon and Phuket on Wednesday, restoring a popular Southeast Asian route that had been suspended for more than two years, the carrier said on Tuesday. The route, which was halted in April 2023, will operate once a day, departing from Incheon International Airport at 6:10 p.m. and arriving in Phuket at 10:30 p.m. local time. Return flights will leave Phuket at 11:40 p.m., arriving in Incheon at 8:00 a.m.
June 24, 2025 -
Former Naver executives steer President Lee Jae Myung's AI policy
SEOUL, June 24 (AJP) - President Lee Jae Myung has appointed former top executives from Naver to senior government posts, signaling a shift toward industry-driven policymaking as the country seeks to accelerate its ambitions in artificial intelligence. Ha Jung-woo, 48, the former head of AI innovation at Naver Cloud, was named the first Chief of AI Future Planning within the presidential office on June 15. A deep learning specialist, Ha had led the development of advanced AI tech
June 24, 2025 -
US expands tariffs on steel-based appliances, raising stakes for Korean firms
SEOUL, June 24 (AJP) - The Trump administration has expanded tariffs on steel-derived goods to include a wide range of major home appliances, a move expected to heighten costs for foreign manufacturers and potentially ripple through U.S. retail prices. The new measures, announced by the Commerce Department this month and taking effect Monday, target appliances such as refrigerators, freezers, dishwashers, washing machines, cooking stoves and garbage disposals. The tariffs will
June 24, 2025 -
Visa hurdles threaten operations at Korean battery plants in US
SEOUL, June 24 (AJP) - South Korea’s major battery makers are facing mounting obstacles in operating their U.S.-based plants, as tightening American entry regulations delay the dispatch of skilled workers. LG Energy Solution, Samsung SDI and SK On have all experienced repeated denials or prolonged delays in sending technicians to their American factories, according to industry sources. The difficulties stem from what companies describe as a de facto policy shift: U.S. aut
June 24, 2025
-
North Korea's massive coastal tourist zone opens after epic delay
-
Prosecution chief steps down citing concerns over prosecutorial reform
-
S. Korea greenlights national consumption coupon plan amid heated budget review
-
Korean biotech firm DewCell partners with Thermo Fisher on artificial platelet project
-
PHOTOS: Beauty of Mount Kumgang in North Korea
-
'Squid Game' finale maintains top spot among TV shows on Netflix
-
Creator of 'Squid Game' responds to American spinoff rumors
-
Korean convenience store chains accelerate global push with growth stalling at home
-
US faces greatest economic risk in global trade war: BOK
-
Early heat wave brings record temperatures across country