HD Hyundai Heavy Industries wins US Navy ship repair contract

SEOUL, August 6 (AJP) - HD Hyundai Heavy Industries announced Wednesday that it has secured a contract to perform maintenance, repair, and overhaul work on a U.S. Navy vessel. The deal marks the first such agreement since the two countries began discussing broader cooperation in shipbuilding. The contract involves the USNS Alan Shepard, a Lewis and Clark-class dry cargo ship weighing 41,000 tons. The work will be carried out at HD Hyundai Mipo Dockyard in Ulsan and is expected to

August 6, 2025

Three former Sapeon employees indicted for stealing AI core technology

SEOUL, August 06 (AJP) - South Korean prosecutors have indicted three former employees of the artificial intelligence chip company Sapeon, accusing them of leaking core technologies ahead of the company's planned merger with a domestic rival. The Suwon District Prosecutors' Office said Wednesday it charged two of the former employees with theft of industrial technology, unfair competition, and breach of trust. A third former executive was indicted without detention on the

August 6, 2025

[K-Tech] Hanwha Systems delivers first mass-produced AESA radar for KF-21 fighter jet

SEOUL, August 06 (AJP) - Hanwha Systems has completed delivery of South Korea’s first domestically mass-produced Active Electronically Scanned Array (AESA) radar for the KF-21 fighter jet, marking a significant milestone in the nation’s push for self-reliant defense technology, the company announced Wednesday. The radar handover ceremony was held Tuesday at the Hanwha Systems Integrated Research Center in Yongin, Gyeonggi Province. The event was hosted by South Korea&r

August 6, 2025

Wall Street banks lift growth forecasts for S. Korea as exports, trade outlook improve

SEOUL, August 6 (AJP) - Major international investment banks are turning more optimistic about South Korea’s economic prospects, with J.P. Morgan raising its 2025 growth forecast for the country for the second time in a month. J.P. Morgan has lifted its projection for South Korea’s real gross domestic product growth to 0.7 percent on July 24, up from 0.5 percent at the end of June. The 0.2 percentage-point upward revision follows stronger-than-expected second-quarter

August 6, 2025

[K-Tech] Korean scientists develop AI chip that mimics human brain

SEOUL, August 06 (AJP) - A research team at Dankook University in Seoul has developed a next-generation artificial intelligence semiconductor that mimics the human brain by learning through light, the university announced Wednesday — a potential breakthrough in the emerging field of neuromorphic computing. Led by Professor Choi Jun-hwan of the Department of Chemical Engineering, the team engineered a neuromorphic chip that replicates the structure and function of biological

August 6, 2025

Coupang posts record revenue, ramps up AI adoption for future growth

SEOUL, August 06 (AJP) - South Korean e-commerce company Coupang Inc. reported record quarterly revenue in the second quarter of 2025, buoyed by a broader product lineup and strong international performance, particularly in Taiwan. In a filing with the U.S. Securities and Exchange Commission, Tuesday (local time), Coupang said revenue rose 19.3 percent year-over-year to 11.98 trillion won, or approximately $8.52 billion. The company surpassed its previous record of 11.49 trillion

August 6, 2025

[K-Tech] LG CNS will build Indonesia's largest AI data center

SEOUL, August 6 (AJP) - LG CNS said Wednesday it had secured a contract to build Indonesia’s largest artificial intelligence data center, marking the first time a Korean firm will construct such a facility abroad. The project, located in Jakarta, involves the development of an 11-story hyperscale AI data center with a power capacity of 30 megawatts and a total floor space of roughly 46,000 square meters. Construction is slated for completion by the end of 2026. Once operati

August 6, 2025

[K-Beauty] CJ Olive Young courts American consumers at K-pop festival in LA

SEOUL, August 05 (AJP) - CJ Olive Young, South Korea’s leading beauty retailer, drew a crowd of 36,000 visitors over three days at KCON LA 2025 with its largest K-beauty booth to date, the company said Tuesday. The immersive 430-square-meter installation spotlighted 164 products from 66 Korean brands, aiming to deepen engagement with U.S. consumers at the annual K-pop and culture festival held at the Crypto.com Arena and the Los Angeles Convention Center. At the center of

August 5, 2025

[K-Tech] Samsung's Galaxy S25 hits 3 million sales in Korea — fastest pace yet for 5G Galaxy phone

SEOUL, August 05 (AJP) - Samsung Electronics said Tuesday that its Galaxy S25 smartphone series has surpassed 3 million domestic sales, achieving the milestone faster than any previous 5G Galaxy S device. Launched in February 2025, the Galaxy S25 lineup reached the 3 million mark two months earlier than its predecessor, while maintaining steady momentum throughout the first half of the year. Pre-launch anticipation was particularly high, with Samsung recording 1.3 million pre-o

August 5, 2025

[K-Tech] S. Korean firm lands $79 million deal for Singapore power grid expansion

SEOUL, August 05 (AJP) - South Korea’s Taihan Cable & Solution has secured a major contract with Singapore’s state-run electricity provider to deliver and install a 400-kilovolt underground power network as part of a regional initiative to expand clean energy transmission. The deal, announced Tuesday, was signed with SP PowerAssets Limited and is valued at approximately 110 billion won, or $79.2 million. The project will form a critical piece of Singapore’s e

August 5, 2025