Samsung's Harman acquires premium audio brand B&W in $350 mln deal

SEOUL, May 7 (AJP) - Samsung Electronics' subsidiary Harman International Industries has agreed to acquire the consumer audio business of United States-based med-tech firm Masimo for $350 million, marking Samsung's largest acquisition since purchasing Harman itself for about $8 billion in 2016. The deal, revealed on Wednesday, will bring several luxury audio brands under Harman's umbrella, including the prestigious British loudspeaker manufacturer Bowers & Wilkins (B

May 7, 2025

SK On accelerates U.S. battery joint venture preparations amid localization push

SEOUL, May 07 (AJP) - South Korean battery maker SK On is accelerating its battery joint venture projects in the United States, aligning with the growing emphasis on localization spurred by the United States' trade policies and new tariffs, according to industry officials on Wednesday. SK On, which is collaborating with global automakers on multiple large-scale ventures, is now focusing on expanding its footprint in the North American electric vehicle (EV) market. BlueOval SK, i

May 7, 2025

Coupang posts record Q1 revenue, unveils major share buyback plan

SEOUL, May 07 (AJP) - Coupang Inc. reported its strongest-ever first-quarter earnings on Wednesday, pulled by favorable exchange rates and strong customer engagement despite sluggish consumer spending and growing competition in the ecommerce sector. The South Korean e-commerce giant, listed on the New York Stock Exchange, posted 11.5 trillion won ($7.9 billion) in revenue for the January–March period, alongside a 340 percent jump in operating profit to 233.7 billion won. Net i

May 7, 2025

KHNP pledges to comply with Czech court order blocking nuclear deal

SEOUL, May 7 (AJP) - Korea Hydro & Nuclear Power (KHNP) said Wednesday it would honor legal proceedings in the Czech Republic, following a court decision to block the signing of a multibillion-dollar nuclear power contract. A regional court in Brno issued an injunction on Tuesday, just one day before KHNP and Czech utility Elektrarna Dukovany II (EDU II) were scheduled to finalize a deal to build two nuclear reactors at the Dukovany site. The move comes as part of an ongoing

May 7, 2025

SK Telecom employees volunteer for frontline support amid SIM card hacking crisis

SEOUL, May 03 (AJP) - Hundreds of SK Telecom employees have voluntarily joined frontline customer service operations to help manage the fallout from the company's recent SIM card information hack, industry sources said on Saturday. Staff from various departments, including those unrelated to mobile communications, developers, and new employees, have been deployed to airports, SK Telecom retail stores, and authorized dealers as more than 3 million overseas travelers are expected dur

May 3, 2025

Hair transplant costs vary up to 15-fold across South Korea

SEOUL, May 02 (AJP) - The cost of hair transplants in South Korea differs dramatically depending on the region, with prices for a single hair follicle transplant varying as much as 15-fold, according to government data released Friday. Figures obtained by Rep. Kim Mi-ae of the ruling People Power Party from the Health Insurance Review and Assessment Service show that in 2024, Gwangju Metropolitan City recorded the highest average cost per follicle at 21,000 won, or roughly $15.70.

May 2, 2025

Korea's inflation holds steady in April, driven by food prices

SEOUL, May 02 (AJP) - Consumer prices in South Korea rose 2.1 percent in April from a year earlier, marking the fourth consecutive month of inflation hovering in the 2 percent range, according to data released Friday by Statistics Korea. The consumer price index (CPI) reached 116.38, based on the 2020 baseline of 100. April’s figure extends a trend that began in January, when inflation climbed back to 2.2 percent after four months of remaining below 2 percent. Processed f

May 2, 2025

Leadership vacuum in S. Korea raises concerns over economic stability

SEOUL, May 02 (AJP) - Concerns over South Korea’s economic leadership are intensifying following the abrupt resignation of Deputy Prime Minister and Finance Minister Choi Sang-mok, who stepped down Thursday in a bid to avoid impeachment. His departure threatens to unsettle foreign investors and undermine Seoul’s credibility as it navigates rising domestic uncertainty and mounting trade pressure from the United States. Choi, a key figure in maintaining policy continu

May 2, 2025

Shinsegae reshaping how Koreans shop, dine — and live

Editor's Note: This article is the 16th 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 01 (AJP) - The headquarters of South Korea’s Shinsegae Group, located in Seoul’s Sogong-ro, rises as a monument to nearly a century of retail evolution. Once a single department store, the company has grown into a sprawling lifestyle conglomerate

May 2, 2025

Trump Jr. holds series of one-on-one meetings with Korean CEOs

SEOUL, April 30 (AJP) - Donald Trump Jr., the eldest son of U.S. President Donald Trump, held a series of private meetings with prominent South Korean business executives on Wednesday at Josun Palace Hotel in southern Seoul. The meetings, held in a secured area of the luxury property, began early in the morning in the same building that houses the office of Jung Yong-jin, the chairman of Shinsegae Group, who played a key role in organizing the junior Trump's visit. Among th

April 30, 2025