Samsung teases Galaxy S25 with dazzling London hologram

SEOUL, January 17 (AJP) - Samsung Electronics has unveiled a striking holographic advertisement 30 meters above London’s Shoreditch neighborhood, offering a tantalizing preview of its upcoming Galaxy Unpacked event on Jan. 22. The outdoor display features a futuristic smartphone interacting with users’ memories by retrieving relevant videos. In one sequence, the device conjures swimming whales in response to the phrase, “I’ll never forget the moment I saw t

January 17, 2025

KAI nears $681 million fighter jets deal with Philippines

SEOUL, January 17 (AJP) - Korea Aerospace Industries (KAI) is in the final stages of negotiations with the Philippines for a contract to supply 12 FA-50 light combat aircraft, a deal valued at approximately 40 billion pesos ($681 million), industry sources said Friday. If completed, the agreement would double the Philippine Air Force’s fleet of FA-50 fighters, building on its initial purchase of 12 units in 2014. The aircraft, widely regarded for their versatility and cost-

January 17, 2025

KB Kookmin unionists vote to strike, demanding bonuses

SEOUL, January 17 (AJP) - The labor union of KB Kookmin Bank has overwhelmingly voted to strike, with 96 percent of its 9,274 members approving the decision. If it proceeds, this would mark the first walkout at the bank in six years, as workers press for performance bonuses of about 20 million won, or roughly $15,000, per employee. The union’s demands come despite KB Kookmin Bank employees earning the highest average salary among South Korea’s top five banks, at 118

January 17, 2025

Lotte Bio to launch new cancer therapy platform

SEOUL, January 17 (AJP) - Lotte Biologics has announced plans to launch its advanced "Soluflex Link" technology, a next-generation platform for antibody-drug conjugates (ADCs), during the JP Morgan Healthcare Conference on Thursday. ADCs are innovative cancer treatments that combine antibodies, which target cancer cells, with powerful drugs designed to kill them. "Soluflex Link addresses stability issues commonly seen in ADC therapies and is compatible with vario

January 17, 2025

Will KOSPI surge under Trump as it did in his first term?

SEOUL, January 17 (AJP) - South Korea’s stock market is entering a phase of renewed uncertainty as the prospect of a second Donald Trump administration raises concerns among investors, despite a history of gains during his first term. The benchmark KOSPI index surged more than 50 percent during Trump’s presidency from 2017 to 2021, climbing from 2,072.79 to 3,114.55, according to the Korea Exchange. However, the period was not without volatility - most notably a 17.28 pe

January 17, 2025

Korea's largest cryptocurrency exchange may face suspension for alleged breach of ID rules

SEOUL, January 17 (AJP) - South Korea's financial regulators have issued a preliminary notice to UPbit, the nation’s largest cryptocurrency exchange, warning of a possible three-month suspension for alleged violations of customer identification rules, according to industry sources on Friday. The Financial Intelligence Unit (FIU) claimed UPbit failed to fully comply with requirements for the protection of customer identification, critical measures designed to curb illicit a

January 17, 2025

KHNP settles dispute with Westinghouse, paving way for nuclear cooperation

SEOUL, January 17 (AJP) - Korea Hydro & Nuclear Power (KHNP), the country's largest nuclear power operator, and Westinghouse Electric of the United States have reached an agreement to settle a two-year intellectual property dispute, potentially paving the way for expanded collaboration in the global nuclear energy market. The settlement, which also involves Korea Electric Power Corp. (KEPCO) and Cameco, a Canadian nuclear fuel company and Westinghouse shareholder, resolves a

January 17, 2025

Korea moving to impose provisional tariff on Chinese stainless steel plates

SEOUL, January 16 (AJP) - The Korea Trade Commission (KTC) has proposed a provisional anti-dumping tariff of 21.62 percent on stainless steel plates imported from China, citing significant damage to domestic industries caused by low-cost Chinese imports. The decision, announced by the KTC under the Ministry of Trade, Industry and Energy on Thursday, comes in response to a formal complaint filed in June 2024 by South Korean steelmaker DKC. The company accused Chinese manufacturers of

January 16, 2025

Samsung Electronics, crown jewel of Korean economy, fights to stay ahead in chips, smartphones

Editor's Note: This article is the third installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, January 16 (AJP) - As Samsung Electronics, South Korea’s largest company and a bellwether of the nation’s economy, faces intensifying competition in AI chips and geopolitical uncertainties, it stands at a pivotal moment. How it responds in the comin

January 16, 2025

Gender wage gap persists in South Korea as women earn 70 percent of men's pay

SEOUL, January 16 (AJP) - South Korea's wage gap between men and women showed gradual improvement in 2023, though disparities remain significant, according to the 2024 Women's Economic Activity White Paper released on Thursday. The paper, released by the Ministry of Gender Equality and Family and the Ministry of Employment and Labor, showed women earned an average hourly wage of 18,502 won ($14) in 2023 - 71 percent of the 26,042 won ($20) earned by men. While progress is

January 16, 2025