Memory chip market shows signs of recovery

SEOUL, March 18 (AJP) - The global memory semiconductor market is exhibiting signs of a long-awaited recovery, as industry forecasts indicate a reversal in price trends for DRAM and NAND flash chips. Analysts suggest that Samsung Electronics, after enduring a prolonged downturn, may experience an earlier-than-expected resurgence. According to TrendForce, a market research firm, the first-quarter price forecast for PC DRAM, specifically DDR5 16Gb chips, has been revised upward f

March 18, 2025

South Korea, US to begin talks on Alaska LNG project

SEOUL, March 18 (AJP) - South Korean Minister of Trade, Industry and Energy Ahn Duk-geun is set to meet with Alaska Governor Mike Dunleavy next week to explore potential South Korean investment in a large-scale liquefied natural gas (LNG) project backed by the Trump administration. Dunleavy is expected to visit South Korea between March 24 and 25 as part of efforts to attract investment in the Alaska LNG development project, which has gained prominence in U.S.-South Korea trade and

March 18, 2025

Hanwha Ocean lands $1.61 billion order for container ships

SEOUL, March 18 (AJP) - South Korean shipbuilder Hanwha Ocean has secured a contract to construct six ultra-large container vessels for Taiwan’s Evergreen Marine, one of the world’s leading shipping companies. The deal, valued at 2.33 trillion won (approximately $1.61 billion), marks the highest price ever paid for container ships of this class, capable of carrying 24,000 twenty-foot equivalent units (TEUs). The vessels will be dual-fuel, designed to operate on both l

March 18, 2025

Korea leads global patent race in hair loss cosmetics

SEOUL, March 17 (AJP) - South Korea has emerged as the world leader in hair loss cosmetics patent applications, according to an analysis released Monday by the Korean Intellectual Property Office (KIPO). The study, which examined patent filings across major intellectual property offices over the past 22 years, found that South Korean entities accounted for 42.9 percent — 576 cases — of global applications, far surpassing Japan’s 20.2 percent (272 cases) and the Uni

March 17, 2025

Lee Jae-yong urges focus on technology, saying Samsung faces 'life-or-death' crisis

SEOUL, March 17 (AJP) - Samsung Electronics Chairman Lee Jae-yong has called on the company’s executives to tackle mounting internal and external challenges, warning that the firm faces a “life-or-death survival problem." Lee delivered this message via a video presentation at a forum attended by approximately 2,000 executives across Samsung affiliates. The chairman underscored the necessity of introspection among the leadership, urging them to prioritize long-term

March 17, 2025

Fashion brands open cafes in Seoul's prime shopping districts

SEOUL, March 17 (AJP) - Spanish fashion firm Zara is set to debut its in-house cafe brand, Zacaffe, at its Myeong-dong store in Seoul this May, according to industry sources. The venture marks the retailer's third global location following openings in Madrid last November and Nanjing, China. The cafe will offer coffee, desserts, and a selection of branded merchandise, including tumblers, hats, eco-bags, and t-shirts. Zara joins a growing list of fashion brands leveraging th

March 17, 2025

Korean firm to supply high-voltage cables to UK's National Grid

SEOUL, March 17 (AJP) - South Korea's Taihan Cable & Solution has signed a agreement with Britain’s National Grid to supply high-voltage direct current (HVDC) cable systems. The agreement, finalized in February, grants Taihan eligibility to bid on National Grid’s HVDC cable system projects over a period that could extend up to eight years. The total project value is estimated at approximately 40 trillion won ($27.5 billion). National Grid, a British multinatio

March 17, 2025

LG, Samsung refrigerators top US Consumer Reports ratings

SEOUL, March 17 (AJP) - LG Electronics and Samsung Electronics have secured top spots in Consumer Reports’ latest ranking of top-freezer refrigerators for 2025. The two South Korean firms dominated the list, with LG models claiming the top position in both the 30-inch and 33-inch categories. In the 21- to 28-inch category, Samsung took first place, while LG followed closely in second. Consumer Reports conducted extensive testing, placing temperature sensors inside the ref

March 17, 2025

Weak won fuels inflation fears as import costs rise

SEOUL, March 17 (AJP) - The value of the South Korean currency remains weak, raising concerns over potential inflationary effects despite broader trends of price stabilization. Economists warn that the prolonged depreciation of the won could push consumer prices higher in the latter half of the year, even as year-over-year inflation eased to 2.0 percent in February from 2.2 percent in January, according to data released Monday by Statistics Korea. Core inflation, which excludes v

March 17, 2025

US imports eggs from S. Korea for first time to help relieve severe domestic shortage

SEOUL, March 14 (AJP) - South Korea has begun exporting eggs to the United States for the first time, as a severe shortage drives American consumers to pay record prices, sometimes exceeding $10 a dozen. Gyerim Farm, an agricultural company based in Ansan, shipped 20 tons of eggs, or 335,160 individual eggs, to Georgia on March 7, marking a historic first in trade relations between the two countries, local officials said. The United States, grappling with an egg shortage that h

March 14, 2025