[K-Beauty] Foreign patients flock to Korea, fueling hospital-based skincare industry

Editor's Note: This is the seventh article in our series exploring the evolving landscape of the Korean beauty industry and the products that captivate international visitors. SEOUL, August 04 (AJP) - South Korea is experiencing an unprecedented wave of medical tourism, driven not by emergency surgeries or rare procedures, but by dermatology clinics and skincare treatments that are drawing patients from around the world — and transforming clinics into international beaut

August 4, 2025

[K-Tech] South Korea to invest $27 million in AI-powered cancer drug research

SEOUL, August 04 (AJP) - South Korea will invest 37.4 billion won, or roughly $27 million, this year to advance the use of artificial intelligence and robotics in developing next-generation pharmaceuticals — with a particular focus on precision cancer therapies. The initiative, unveiled by the Ministry of Trade, Industry and Energy, aims to bolster the country’s competitiveness in the fast-growing field of antibody-drug conjugates, or ADCs — a class of targeted c

August 4, 2025

Tax reform plan triggers market rout, political fallout in South Korea

SEOUL, August 03 (AJP) - A sweeping tax reform proposal from President Lee Jae Myung’s administration has sparked political infighting and market turmoil, raising doubts about its ability to reconcile its pro-growth rhetoric with investor sentiment. Unveiled on July 31, the tax overhaul plan includes a controversial provision that would lower the threshold for shareholders subject to capital gains taxes from 5 billion won (about $3.9 million) per stock to 1 billion won ($770

August 3, 2025

US demand for rice market access clouds prospects for Lee-Trump summit

SEOUL, August 03 (AJP) - A dispute over U.S. access to South Korea’s rice market is casting a shadow over a planned summit between South Korean President Lee Jae Myung and U.S. President Donald Trump, raising concerns that economic friction could spill into broader diplomatic discussions. American officials have claimed that South Korea agreed to open its rice market to U.S. imports as part of recent trade negotiations. But South Korean officials, including President Lee&

August 3, 2025

S. Korea moves to legislate 'K-Steel Act' as U.S. tariff hike threatens steel exports

SEOUL, August 01 (AJP) - South Korean lawmakers are pushing for a new legislative measure known as the "K-Steel Act" to support the domestic steel industry amid rising trade pressure from the United States' high tariffs and a flood of cheap Chinese imports. According to political sources on Friday, Rep. Eoh Ki-gu of the Democratic Party and Rep. Lee Sang-hwi of the People Power Party plan to introduce a bipartisan bill to protect domestic steel production on August 4.

August 1, 2025

South Korea sees July export volume grow 5.9 percent on strong chip demand

SEOUL, August 1 (AJP) - South Korea's exports rose 5.9 percent in July from a year earlier to $60.82 billion, marking the second consecutive month of growth despite concerns over impending U.S. tariffs, trade ministry data showed Friday. Semiconductors drove the export surge, posting a 31.6 percent year-on-year increase to $14.71 billion, recording the highest July performance ever, aided by strong demand for high-value memory chips such as high bandwidth memory chips and price

August 1, 2025

[K-Tech] Samsung to launch XR headset and tri-fold phone in second half

SEOUL, August 01 (AJP) - Samsung Electronics will release extended reality headsets and tri-fold smartphones in the second half of 2025 as part of an aggressive expansion of its Galaxy ecosystem, the tech giant said Friday. The company also plans additional mergers and acquisitions to strengthen new business areas including artificial intelligence, medical technology, and heating, ventilation and air conditioning systems. Samsung's Mobile Experience division reported second-qu

August 1, 2025

[K-Tech] S. Korea selects 8 ESS sites totaling 563MW to support renewable energy expansion

SEOUL, August 01 (AJP) - South Korea's Ministry of Trade, Industry and Energy and the Korea Power Exchange on Thursday confirmed plans to deploy 563 megawatts (MW) of energy storage systems (ESS) nationwide, a move aligned with the government's long-term strategy to bolster renewable energy infrastructure. The announcement followed a bidding committee meeting held on July 31. The centralized bidding system, introduced in 2023, initially covered three pilot sites on Jeju Is

August 1, 2025

South Korea to decide on Google's high-precision map export request next month

SEOUL, August 1 (AJP) - South Korea will decide next month whether to approve Google's request to export high-precision maps overseas, with security concerns likely to weigh heavily on the government's final decision. Because South Korea remains technically in a state of ceasefire with North Korea, the country imposes strict regulations on domestic map service providers to conceal the exact locations of military bases and facilities. Many of these sites are either blurred,

August 1, 2025

Reliance Industries bets big on deep-tech, reshapes India's digital future

Editor's Note: This article is the 29th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, July 30 (AJP) - Reliance Industries, India's largest private-sector company, is navigating a complex energy and geopolitical landscape while accelerating its transformation into a deep-tech and advanced manufacturing leader. Once known primarily for its dominance

July 31, 2025