[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

[K-Food] Young chefs explore Korean cuisine in Indonesia

SEOUL, August 5 (AJP) - Riding a global wave of enthusiasm for Korean food culture, South Korean food firm CJ CheilJedang has concluded its first overseas culinary competition, aimed at fostering the next generation of Korean food ambassadors abroad. The event, part of the company’s Cuisine.K initiative, was held in Indonesia in partnership with Akademi Sages, a leading culinary institute in the country. CJ CheilJedang served as the exclusive sponsor of the two-month compet

August 5, 2025

China's EV boom offers new opportunities for Korean auto suppliers: KOTRA

SEOUL, August 05 (AJP) - China’s dominance in electric vehicle production is opening a fresh wave of opportunities for South Korean companies, particularly those specializing in core automotive technologies and components, according to a new report by the Korea Trade-Investment Promotion Agency (KOTRA). In a report released Tuesday titled “Recent Trends and Implications in China’s Automotive Industry,” KOTRA identified strong potential for Korean firms to s

August 5, 2025

[K-Tech] Korean biotech firms target Middle East's healthcare markets

SEOUL, August 05 (AJP) - South Korean pharmaceutical and biotechnology companies are ramping up expansion into the Middle East, seizing new opportunities in healthcare as Gulf nations shift their economic focus away from oil and toward medical innovation and services. Botulinum toxin manufacturers and medical artificial intelligence firms are at the forefront of this push, aiming to tap into rising healthcare investments across the Gulf Cooperation Council (GCC) countries, industry

August 5, 2025

South Korea moves to shore up steel industry hit by US tariffs, Chinese imports

SEOUL, August 5 (AJP) - A joint inspection team made up of senior government officials and industry representatives visited major steelworks in the southeastern port city of Pohang on Tuesday, as South Korea confronts a deepening crisis in its steel sector driven by U.S. tariffs and a surge in low-cost Chinese imports. The team, including officials from the Ministry of Trade, Industry and Energy, the Ministry of Economy and Finance, and the Ministry of Land, Infrastructure and Trans

August 5, 2025

POSCO joins bid to acquire Australia's historic steelworks

SEOUL, August 05 (AJP) - South Korean steel firm POSCO has joined an international consortium to pursue the acquisition of the Whyalla steelworks in South Australia, as part of a broader strategy to secure low-carbon raw materials and bolster its green transition. The consortium, which includes Australia’s BlueScope Steel, Japan’s Nippon Steel, and India’s JSW Group, has submitted a non-binding expression of interest to the South Australian government. If succ

August 5, 2025

[K-Tech] Korea selects five teams to develop national AI models in major push for technological sovereignty

SEOUL, August 04 (AJP) - The South Korean government has selected five elite teams to spearhead the development of foundational artificial intelligence models, marking a major step in the country’s effort to build a sovereign AI ecosystem. The Ministry of Science and ICT announced Monday that the teams — Naver Cloud, Upstage, SK Telecom, NC AI, and LG AI Research — were chosen following a government-led evaluation of proposals based on technological capability, s

August 4, 2025

[K-Tech] Ground broken for South Korea's first renewable biofuel plant

SEOUL, August 4 (AJP) - LG Chem has begun construction on South Korea’s first hydrotreated vegetable oil (HVO) production facility, marking a major step in the country’s push to expand its footprint in sustainable energy and materials. The plant, located in the coastal city of Seosan in South Chungcheong Province, is being developed by LG-Eni Biorefining, a joint venture between LG Chem and Italian energy company Eni. Completion is expected by 2027, the company said in a

August 4, 2025

[K-Bio] Korean pharma firms post record earnings despite US trade uncertainty

SEOUL, August 4 (AJP) - South Korea’s leading pharmaceutical companies reported their strongest second-quarter results on record, brushing aside investor concerns over potential U.S. trade restrictions under President Donald Trump. Biosimilar manufacturer Celltrion led the charge, posting revenue of 961.5 billion won, or approximately $692.4 million, for the April-to-June period — a 9.9 percent increase from the same quarter last year. The company’s operating pr

August 4, 2025

Korea's beauty exports hit record $5.5 billion in first half

SEOUL, August 04 (AJP) - South Korea’s cosmetics exports surged to a record $5.5 billion in the first half of 2025, a 14.8 percent increase from the same period last year. The latest data, released Monday by the Ministry of Food and Drug Safety, marks the highest first-half export total in the country’s history and reinforces South Korea’s position as the world’s third-largest cosmetics exporter, behind only France and the United States. If current trends

August 4, 2025