HOT STOCK: British fund bullish on LG Chem, local banks wary how far the stock can go

SEOUL, October 23 (AJP) - Shares of LG Chem set a new ceiling this week as the Korean chemical giant defied industrial headwinds after being spotlighted by a major foreign shareholder for excessive undervaluation. LG Chem closed Thursday at 389,500 won ($271), down after a 13 percent surge in the previous session. The rally followed a public statement by British activist fund Palliser Capital, which argued that “LG Chem’s stock is significantly undervalued, currently t

October 23, 2025

Asian shares lose ground on tech selling

SEOUL, October 23 (AJP) - Asian stock markets ended lower Thursday as investors reacted to disappointing technology earnings and persistent geopolitical uncertainties, while Vietnamese equities stood out with gains on expectations of stronger domestic demand. South Korea’s main KOSPI and secondary KOSDAQ retreated after a record-setting rally. The KOSPI fell 1.2 percent to 3,835.79, and the tech-heavy KOSDAQ lost 0.9 percent to 870.90 as institutional investors took profits. C

October 23, 2025

Korean drugmakers race to enter booming weight-loss drug market

SEOUL, October 23 (AJP) - South Korea's major pharmaceutical companies are racing to enter the global weight-loss drug market, upgrading drug delivery formats and formulations to tap a segment projected to grow more than 15 percent over the next five years. A recent survey by Exploratory Research in Clinical and Social Pharmacy, cited by Yuanta Securities, showed that 62.2 percent of 4,400 respondents across 21 countries preferred oral weight-loss drugs — far ahead of in

October 23, 2025

Bank of Korea chief signals nearing end of easing cycle

SEOUL, October 23 (AJP) - The Bank of Korea (BOK) held its key interest rate at 2.50 percent for October, keeping policy steady since the last 25-basis-point cut in May amid foreign exchange and housing market volatility, and signaled that the current easing cycle may be nearing its end unless major external shocks occur. “We are maintaining an easing policy stance, but the pace and timing of additional rate cuts may have to be adjusted,” BOK Governor Rhee Chan-yong

October 23, 2025

Korean AI company Upstage unveils Japan-focused LLM 'Shin Pro'

SEOUL, October 23 (AJP) - South Korean artificial intelligence company Upstage announced Thursday the launch of “Shin Pro,” a large language model (LLM) designed specifically for the Japanese market and developed in partnership with Tokyo-based AI firm Karakuri. Built on Upstage’s proprietary Solar model, Shin Pro is a 31-billion-parameter system fine-tuned for Japanese language nuances and cultural context. The model is optimized for on-premise deployment, off

October 23, 2025

Singapore's VENA Group pledges $20 billion investment in Korea's green energy, AI sectors

SEOUL, October 23 (AJP) - Singapore-based renewable energy company VENA Group plans to invest $20 billion in South Korea to advance projects in renewable energy and artificial intelligence data centers, officials here said Thursday. The announcement came after the company delivered a letter of intent at a ceremony held at the National Assembly in Seoul, attended by Environment Minister Kim Sung-hwan, Vice Minister of Science and ICT Ryu Jae-myung, Democratic Party lawmaker Cha J

October 23, 2025

Hyundai Motor steps on the gas in Indian foray as US and China turn inward

SEOUL, October 23 (AJP) - South Korea's Hyundai Motor Group is accelerating its push into India following last year's landmark $3.3 billion initial public offering of its Indian unit, positioning the country as a central pillar of its global growth strategy amid rising protectionism in the United States and China. "India is a strategic priority in Hyundai's global growth vision. India isn't just important to Hyundai's global strategy — India is Hyundai

October 23, 2025

HD Hyundai merger plan gets shareholders' approval

SEOUL, October 23 (AJP) - HD Hyundai Heavy Industries will officially merge with its affiliate HD Hyundai Mipo Dockyard on Dec. 1, following overwhelming shareholder approval on Thursday — a move the company says will sharpen its competitiveness in the global shipbuilding and defense markets. At the respective shareholder meetings, 98.54 percent of HD Hyundai Heavy Industries’ shareholders and 87.56 percent of HD Hyundai Mipo’s shareholders voted in favor of th

October 23, 2025

Bangladesh's investment chief visits South Korea to discuss deepening ties

SEOUL, October 23 (AJP) - South Korea and Bangladesh are moving to strengthen economic cooperation as Dhaka prepares to transition from least-developed country (LDC) status, officials here said Thursday. South Korean Trade Minister Yeo Han-gu met with Chowdhury Asik Mahmud Bin Harun, chairman of the Bangladesh Investment Development Authority, in Seoul to discuss ways to expand bilateral trade and investment , according to the Ministry of Trade, Industry and Energy. Yeo under

October 23, 2025

Korean won weakens past 1,440 per US dollar, hitting 6-month low

SEOUL, October 23 (AJP) - The South Korean won slid past 1,440 per U.S. dollar on Thursday, its weakest level in six months, as investors reacted to a mix of global and regional pressures — from U.S. policy uncertainty to shifting dynamics in Japan and China. The won was traded at 1,440.3 per dollar, down 10.45 won from the previous session as of 1:00 p.m., marking its lowest point since April 29. The currency opened at 1,431.8 won. Speaking at a press conference

October 23, 2025