LG Chem posts 43% jump in Q3 operating profit on cost cuts, battery unit recovery

SEOUL, October 31 (AJP) - South Korea's LG Chem reported a 42.6 percent quarter-on-quarter increase in operating profit for the third quarter on Friday, driven by its battery unit's improved performance and company-wide cost reduction efforts despite sluggish global demand. The chemical giant posted an operating profit of 679.7 billion won (around $476 million) for the July to September period, up 38.9 percent from a year earlier, while revenue fell 1.9 percent to 11.2 trill

October 31, 2025

S. Korea evolving beyond outsourcing clinical testbed as global R&D investment nears $1 bn

SEOUL, October 31 (AJP) - South Korea’s biopharmaceutical sector has expanded rapidly over the past decade, yet new breakthrough drugs have been scarce and the country has produced no Nobel Prize winners in science — a stark contrast to neighboring Japan’s 22 laureates in natural sciences this century. But there may be hope as global pharmaceutical giants ramp up investment and clinical activity in Korea. The Korean Research-based Pharma Industry Association (KR

October 31, 2025

Kia's profit plunges as US tariffs, strong dollar weigh on margins

SEOUL, October 31 (AJP) - South Korean automaker Kia reported a steep drop in quarterly profit despite record revenue and global sales, Friday, as higher tariffs and currency fluctuations eroded margins in key markets. The company said its operating profit for the third quarter fell 49.2 percent from a year earlier to 1.46 trillion won ($1.06 billion), even as revenue climbed 8.2 percent to 28.69 trillion won. Net profit declined 37.3 percent to 1.42 trillion won. “Desp

October 31, 2025

Woori Card launches QR-based payment service in Indonesia

SEOUL, October 31 (AJP) - Woori Card has become the first South Korean credit card company to introduce a QR-based payment and cash withdrawal service in Indonesia. The company unveiled the service on Friday at the 2025 Indonesia Digital Finance Festival in Jakarta, in partnership with the Korea Financial Telecommunications & Clearings Institute. The system allows users to make payments and withdraw cash using a single QR code generated through Woori Card’s mobile app.

October 31, 2025

Japan's Nikkei tops 52,000 for first time as Asian markets trade mixed

SEOUL, October 31 (AJP) - Asian stock markets were mixed on Friday, with Japan’s Nikkei 225 surging past the 52,000 mark for the first time in its 75-year history, while Chinese and Hong Kong shares slipped and South Korea’s benchmark index traded little changed. As of late morning, Japan’s Nikkei 225 was up 1.5 percent at 52,089.30, building on a week of record-breaking gains. The index crossed 50,000 on Monday and 51,000 on Wednesday before reaching another mil

October 31, 2025

Samsung SDI works with BMW, Solid Power of US to develop next-generation EV batteries

SEOUL, October 31 (AJP) - Samsung SDI said Friday it has entered a three-way partnership with BMW and U.S.-based Solid Power to develop and test solid-state batteries for electric vehicles, deepening a long-running collaboration with the German automaker as the global race to commercialize next-generation batteries intensifies. Under the agreement, the three companies will work together to improve the energy density and safety of solid-state batteries using Solid Power&r

October 31, 2025

South Korea's factory output slips in September, but investment surge signals upbeat outlook

SEOUL, October 31 (AJP) - South Korea’s industrial production dipped in September as auto exports faltered under the weight of higher U.S. tariffs, but a sharp rebound in capital investment suggested that the manufacturing sector may be regaining its footing amid a global semiconductor boom and signs of easing trade frictions. According to data released Friday by the Ministry of Data and Statistics, manufacturing output fell 1.2 percent from the previous month — the fi

October 31, 2025

Nvidia's Jensen Huang steals the show in Seoul, outshining Trump and Xi

SEOUL, October 31 (AJP) -Presidents Donald Trump and Xi Jinping may have dominated global headlines during the Asia-Pacific Economic Cooperation events in South Korea, but the figure who truly captivated the Korean public was the chief executive of the world’s most valuable company. Nvidia CEO Jensen Huang drew hundreds of reporters the moment he landed in Seoul on Thursday. By evening, the southern Gangnam district had nearly ground to a halt as crowds

October 31, 2025

Asian stocks end flat Thursday as U.S.–China talks yield little beyond gestures

SEOUL, October 30 (AJP) - Asian stock markets ended mostly flat on Thursday, as the highly anticipated summit between the United States and China produced little beyond diplomatic optics, offering no meaningful signals on trade or geopolitical issues. In Seoul, the benchmark KOSPI slipped 0.2 percent to 4,087, after a volatile session in which the index tested the 4,100 level and touched a fresh intraday high of 4,146.72. Among large caps, Hyundai Motor, Hanwha Ocean, Samsung Ele

October 30, 2025

Leverage builds as South Korean investors chase stock gains

SEOUL, October 30 (AJP) — South Koreans are taking on more debt to invest in stocks, as a wave of market optimism drives both leveraged trading and record cash holdings at brokerages. Margin loans — money borrowed from securities firms to buy shares — climbed above 25 trillion won ($18.1 billion) for the first time, reaching 25.1 trillion won as of Thursday, according to data from the Korea Financial Investment Association. That represents an 8 percent increase

October 30, 2025