HD Hyundai chairman to outline vision for global shipbuilding at APEC forum

SEOUL, October 21 (AJP) - Jeong Ki-sun, chairman of South Korean shipbuilder HD Hyundai, will present his vision for the future of global shipbuilding at the Future Tech Forum, a side event of the Asia-Pacific Economic Cooperation (APEC) Summit in Gyeongju. The company said Monday that Jeong will deliver a keynote address at the forum, which brings together industry leaders, government officials, and scholars to discuss emerging industrial and technological trends. Under the

October 21, 2025

IFEZ draws $553.5 million in FDI in Q3, reaching 92.3% of annual goal

SEOUL, October 21 (AJP) - The Incheon Free Economic Zone (IFEZ) announced that foreign direct investment (FDI) declarations in the third quarter of 2025 reached $553.5 million, achieving 92.3 percent of its yearly target. Following $494.7 million in the first half, an additional $58.8 million was reported in the third quarter, pushing total declarations close to the full-year goal. IFEZ reported strong results in its key strategic sectors, particularly bio and semiconductor ind

October 21, 2025

Korean Air partners with US startup to develop vertical takeoff, landing aircraft

SEOUL, October 21 (AJP) - Korean Air said Tuesday it has signed a memorandum of understanding with the U.S.-based startup Archer Aviation to jointly develop advanced air mobility (AAM) aircraft. The agreement, signed Monday at the Seoul International Aerospace and Defense Exhibition (ADEX) 2025, outlines plans to adapt Archer’s electric vertical takeoff and landing (eVTOL) aircraft, known as Midnight, for government and defense applications. The model is designed for rapid

October 21, 2025

OPINION: Pragmatic path to Korean reunification

SEOUL, October 21 (AJP) - During a recent parliamentary audit of the Ministry of Unification, Minister Chung Dong-young introduced what he called the “peaceful two-state theory” — a framework for institutionalizing coexistence between South and North Korea as a step toward eventual unification. The proposal, though easily misunderstood, seeks not to legitimize division but to manage it prudently. At its core, the theory rests on three principles. First, it doe

October 21, 2025

Asian markets rise on hopes of pro-stimulus government in Japan

SEOUL, October 20 (AJP) - Asian equities advanced on Monday, lifted by optimism that Japan may soon usher in a pro-stimulus government — a prospect that helped counterbalance mixed economic signals from China and cautious sentiment across the region. In Seoul, the benchmark KOSPI index gained 1.3 percent, supported by renewed optimism over a tariff deal with Washington and resilient semiconductor exports. The tech-heavy KOSDAQ also edged higher, though gains were more muted,

October 20, 2025

Korean central bank likely to save ammunition in this week's rate meeting

SEOUL, October 20 (AJP) - South Korea’s central bank, like most of its Asian peers, is expected to hold fire on interest rates this week, preserving policy ammunition amid mounting uncertainties from U.S. tariff and trade policies. At Thursday’s Monetary Policy Board meeting, the Bank of Korea (BOK) is widely forecast to keep its benchmark rate unchanged at 2.50 percent, maintaining its cautious stance since the last cut in August. The decision comes as inflation show

October 20, 2025

Kolmar Korea to develop AI-driven cosmetics factory under government project

SEOUL, October 20 (AJP) - Cosmetics manufacturer Kolmar Korea said Monday that it has been chosen by the Ministry of Trade, Industry and Energy to lead the development of an artificial intelligence–integrated autonomous manufacturing system for cosmetics — an ambitious effort to transform how beauty products are made. The initiative, known as the AI Factory Project, aims to surpass current “smart factory” systems by using real-time data and AI models to a

October 20, 2025

JW Pharma's hemophilia A treatment added to WHO's Essential Medicines List

SEOUL, October 20 (AJP) - South Korea's JW Pharmaceutical said Monday that Hemlibra, its treatment for hemophilia A, has been added to the World Health Organization’s 2025 Essential Medicines List (EML) and the Essential Medicines List for Children (EMLc). Hemlibra is the only preventive therapy available for both patients with and without inhibitors, offering sustained protection against bleeding through a single subcutaneous injection every four weeks — a major

October 20, 2025

South Korea's Hanwha Systems showcases high-resolution radar satellite

SEOUL, October 20 (AJP) - South Korea's Hanwha Systems has revealed a new radar satellite that can capture extremely detailed images from space, marking a major step in South Korea’s space and defense ambitions. The company, along with Hanwha Aerospace and Hanwha Ocean, showcased the Very Low Earth Orbit (VLEO) Ultra High Resolution (UHR) Synthetic Aperture Radar (SAR) satellite for the first time at the Seoul International Aerospace and Defense Exhibition (ADEX) 2025

October 20, 2025

KAI teams up with US defense firm to develop manned-unmanned aircraft systems

SEOUL, October 20 (AJP) - Korea Aerospace Industries (KAI) said Monday it had signed a memorandum of understanding with Kratos Defense & Security Solutions, a U.S. defense company known for its unmanned aerial systems, to collaborate on manned-unmanned teaming technology. The agreement seeks to establish a partnership in developing systems that integrate piloted aircraft with drones — known as manned-unmanned teaming, or MUM-T — for the domestic market, with an e

October 20, 2025