Asian markets recover early Thursday from AI rout

SEOUL, November 06 (AJP) - Asian stocks rebounded Thursday as investors shrugged off a brief scare over stretched valuations in the AI boom. Seoul’s KOSPI gained 1.3 percent to 4,054.56 after a near 3-percent plunge the previous day, while the KOSDAQ edged up 0.25 percent to stay above 900. Retail investors led the recovery, while foreign and domestic institutions continued to take profits after weeks of heavy buying. Hyosung Heavy Industries rose 4.1 percent to 2.3 milli

November 6, 2025

Samsung Heavy expands into US shipbuilding market with new partnership

SEOUL, November 06 (AJP) - Samsung Heavy Industries said on Thursday that it had signed a strategic partnership agreement with DSEC, a ship design and procurement company, in a move to expand into the U.S. shipbuilding market. DSEC, which works closely with American shipyards in areas such as vessel design, equipment supply, maintenance and technical consulting, is expected to provide a key bridge for Samsung’s entry into the U.S. market. The company’s expertise in U

November 6, 2025

Swiss banking delegation visits Toss Bank to explore digital banking in South Korea

SEOUL, November 06 (AJP) - A group of senior Swiss banking executives visited Toss Bank’s headquarters in Seoul on Wednesday to study South Korea’s rapidly evolving digital finance ecosystem, the company said Thursday. The 18-member delegation, organized by the Swiss Embassy in Seoul and telecommunications company Swisscom, was welcomed by Toss Bank’s chief executive, Lee Eun-mi, and other senior executives. During the meeting, Toss Bank shared its experie

November 6, 2025

Samsung Electronics acquires German heating, air conditioning firm

SEOUL, November 06 (AJP) - Samsung Electronics said on Thursday that it had completed its acquisition of FlaktGroup, a German heating, ventilation and air conditioning (HVAC) company, in a move to strengthen its presence in industrial solutions. FlaktGroup, founded more than a century ago, is one of Europe’s largest HVAC companies, supplying central air-conditioning and precision cooling systems for data centers, hospitals and large commercial buildings across more than

November 6, 2025

Korean court voids 'Hyundai' trademark held by Puerto Rico-based company

SEOUL, November 05 (AJP) - South Korea’s Patent Court has invalidated the “Hyundai” trademark owned by Puerto Rico-based Hyundai Technology, ending a yearslong legal dispute over one of Korea’s most recognizable corporate names. The ruling, handed down in May, resolved a conflict that began in 2020 when Hyundai Technology filed suit over the use of the “Hyundai Connect” trademark. The case drew attention in South Korea’s business communi

November 5, 2025

Korea's platform giant Naver reaps best quarterly revenue with AI help

SEOUL, November 05 (AJP) - South Korea’s internet platform leader Naver Corp. posted its highest-ever quarterly revenue for the July–September period, powered by broad adoption of artificial intelligence across its businesses. According to the company’s regulatory filing Wednesday, operating profit rose 8.6 percent from a year earlier to 570.6 billion won ($394 million), while revenue jumped 15.6 percent to 3.138 trillion won ($2.17 billion). It is the first time i

November 5, 2025

Asian stocks under broad foreign selloff, KOSPI and Nikkei biggest casualties

SEOUL, November 05 (AJP) - Asian stocks tumbled across the board on Wednesday, with recent winners in Seoul and Tokyo turning into the day’s biggest losers. South Korea’s benchmark KOSPI closed down 2.85 percent at 4,004.42, barely holding the psychologically important 4,000 level. The index had plunged more than 5 percent in early trading, triggering a sidecar halt. The selloff followed mounting fears of a potential U.S. market bubble after steep losses in Palantir Te

November 5, 2025

South Korea begins efforts to spur commercial use of quantum technologies

SEOUL, November 05 (AJP) - South Korea’s Ministry of Trade, Industry and Energy on Wednesday launched a team designed to accelerate the transition of quantum technology from laboratory research to industrial application. The so-called K-Quantum Industry Alliance brings together companies, universities, research institutes, and financial organizations in a coordinated effort to strengthen the country’s quantum ecosystem. During a ceremony in Seoul, participants sig

November 5, 2025

Majority of South Koreans distrust national pension system, survey finds

SEOUL, November 05 (AJP) - More South Koreans say they distrust the national pension system than those who express confidence in it, according to a new survey highlighting deepening public skepticism toward the country’s social safety net. The poll, commissioned by the Korea Employers Federation and conducted by Mono Research, found that 55.7 percent of respondents do not trust the national pension system, compared with 44.3 percent who said they do. Distrust wa

November 5, 2025

BOK governor to attend BIS meeting, Singapore fintech forum

SEOUL, November 05 (AJP) - Bank of Korea Governor Lee Chang-yong will travel to Basel, Switzerland, on Thursday to attend a meeting of the Bank for International Settlements (BIS) governors. During his visit, Lee will join discussions with fellow central bankers on the global economy and financial markets. As a BIS director, he will also take part in meetings of the board and the Economic Consultative Committee. In his capacity as chair of the Committee on the Global Financial

November 5, 2025