SK Earthon expands resource development in Southeast Asia

SEOUL, May 13 (AJP) - SK Earthon, the energy resource development unit of SK Innovation, is ramping up its presence in Southeast Asia, with Vietnam emerging as a focal point in the company’s ambition to become a global player in oil and gas exploration. The company is pursuing a “clustering strategy” in Vietnam, a country estimated to hold 4.4 billion barrels of oil and gas reserves. The approach echoes SK Earthon’s long-running operations in Peru, where it

May 13, 2025

Samsung's AI-powered vacuum draws praise from global reviewers

SEOUL, May 13 (AJP) - Samsung Electronics’ latest foray into the premium home appliance market — the Bespoke AI Jet 400W cordless vacuum cleaner — is garnering positive attention from international technology reviewers, many of whom have highlighted the device’s powerful suction, adaptive AI cleaning features, and versatile accessories. Positioned as Samsung’s flagship cordless vacuum model, the Bespoke AI Jet 400W aims to appeal to consumers seeking

May 13, 2025

South Korea's AI-generated games face regulatory hurdles

SEOUL, May 13 (AJP) - South Korea’s game industry is bracing for heightened regulatory oversight as lawmakers confirm that video games utilizing artificial intelligence will fall under the country’s new Artificial Intelligence Basic Law, set to take effect in January 2026. According to a report released Tuesday by the National Assembly Research Service, games that employ generative AI models are likely to be classified as “AI products,” placing them under a r

May 13, 2025

Samsung Display unveils next-generation screens at Display Week 2025

SEOUL, May 13 (AJP) - Samsung Display is showcasing a suite of advanced display technologies that reflect the company's growing ambitions in next-generation screen innovation at the annual Display Week 2025 exhibition. The event, which continues from Tuesday through Thursday, features several never-before-seen prototypes and refinements to existing display technologies. Display Week, organized by the Society for Information Display, remains a key showcase for cutting-edge visu

May 13, 2025

Korea, Malaysia resume FTA talks to close gap in key areas

SEOUL, May 13 (AJP) - South Korea and Malaysia are set to resume negotiations this week in Kuala Lumpur as the two nations seek to advance their bilateral free trade agreement. The talks, scheduled from Tuesday through Thursday, mark the sixth round of negotiations since the process resumed in March 2024. The South Korean delegation is headed by Kwon Hye-jin, the country’s chief trade negotiator from the Ministry of Trade, Industry and Energy. Malaysia’s team is led b

May 13, 2025

US, China agree to roll back tariffs, pause trade war

SEOUL, May 12 (AJP) - The United States and China announced Monday that they had reached a preliminary agreement to reduce and temporarily suspend a series of reciprocal tariffs, marking a significant step toward de-escalating a trade conflict that has rattled global markets for weeks. Following a weekend of closed-door negotiations in Geneva, U.S. Treasury Secretary Scott Bessent said the two countries had agreed to a 90-day pause on implementing new tariffs, with both sides commit

May 12, 2025

SK Telecom reports slight dip in profit, reaffirms customer data safeguards

SEOUL, May 12 (AJP) - South Korea’s largest wireless carrier SK Telecom reported a marginal decline in net profit for the first quarter of 2025, as increased corporate taxes offset gains from its expanding artificial intelligence businesses. The company said Monday that net income for the three months ending in March fell 0.1 percent to 361.6 billion won ($258.3 million), compared with 361.9 billion won during the same period a year earlier. The decrease was attributed to hi

May 12, 2025

OECD warns of slowing growth in South Korea

SEOUL, May 12 (AJP) - South Korea’s potential economic growth is projected to dip below 2 percent next year, according to the Organisation for Economic Cooperation and Development, raising fresh concerns about the long-term health of Asia’s fourth-largest economy. The OECD forecast South Korea’s potential GDP growth rate at 1.98 percent for 2026 — a slight but symbolic decline from this year’s estimate of 2.02 percent. The revision reflects a broader

May 12, 2025

K-pop festival in Japan becomes business platform for Korean firms

SEOUL, May 12 (AJP) - South Korean companies secured export agreements valued at $9.76 million during business matchmaking sessions held alongside a major K-pop festival in Japan, the Korea Trade-Investment Promotion Agency (KOTRA) said Monday. The business-to-business consultations, organized by KOTRA, took place on May 8 at the Tokyo International Forum, coinciding with KCON Japan, an annual K-pop showcase hosted by entertainment conglomerate CJ ENM. The three-day event featu

May 12, 2025

South Korea posts current account surplus for 23rd straight month

SEOUL, May 9 (AJP) - South Korea continued its current account surplus streak for the 23rd straight month, the Bank of Korea (BOK) said on Friday. According to preliminary data compiled by the central bank, the surplus reached around US$9.14 billion in March, up $2 billion from the previous month. Exports of goods rose slightly from a year earlier to around $59.31 billion, backed by a recovery in shipments of semiconductors and computer-related devices. Imports also went up more

May 9, 2025