Kia opens assembly plant in Kazakhstan to boost Central Asia presence

SEOUL, October 21 (AJP) - Kia said on Tuesday that it has opened a new automobile assembly plant in Kostanay, Kazakhstan. Built with an investment of about $310 million, the facility spans 630,000 square meters and can produce up to 70,000 vehicles annually. The plant has begun assembling the Sorento SUV and plans to add production of the Sportage model in 2026. Kia said the new plant would serve as a hub for meeting rising regional demand and advancing localization efforts i

October 21, 2025

South Korea's finance chief urges focus on AI transition at APEC ministers' meeting

SEOUL, October 21 (AJP) - South Korea’s Finance Minister, Koo Yun-cheol, called on Asia-Pacific nations on Tuesday to channel resources into artificial intelligence as a key driver of economic growth, urging policymakers to foster innovation and strengthen private-sector participation. “In the era of AI transformation, we must create an innovation-friendly environment and support the private sector,” Koo said at the opening of the Asia-Pacific Economic Cooper

October 21, 2025

Epson unveils new 'Lifestudio' projectors to tap booming home entertainment market

SEOUL, October 21 (AJP) - Epson introduced a new line of home projectors on Tuesday, betting that South Korea’s growing appetite for streaming and large-screen entertainment will help sustain demand for high-end home viewing devices. At a press event in Seoul, Jun Morohoshi, head of Epson Korea, announced the launch of the Lifestudio Series, which features nine new projector models designed to blend functionality with lifestyle appeal. “South Korea is a key mark

October 21, 2025

Samsung weighs new 'control tower' as leadership reshuffle nears

SEOUL, October 21 (AJP) - Samsung Electronics is considering reestablishing a central management body to coordinate its sprawling business divisions, as the conglomerate prepares for a major executive reshuffle next month. The move comes as Chairman Lee Jae-yong marks his third year at the helm with the company riding a resurgent semiconductor boom. Industry sources say Samsung plans to accelerate both its annual personnel reshuffle and a broader organizational restructurin

October 21, 2025

Kakao founder Kim Beom-su acquitted in SM Entertainment stock manipulation case

SEOUL, October 21 (AJP) - A Seoul court on Tuesday acquitted Kim Beom-su, founder of tech conglomerate Kakao, of stock manipulation charges tied to the company’s high-profile battle for control of SM Entertainment. The Seoul Southern District Court ruled that prosecutors had failed to prove that Kim conspired to manipulate SM Entertainment’s stock price during Kakao’s contested acquisition fight with Hybe, another major K-pop agency, in early 2023. Former Kakao inv

October 21, 2025

KOSPI fueled by red-hot SK hynix continues record rally; Asian stocks higher early Tuesday

SEOUL, October 21 (AJP) - South Korean and Japanese shares extended gains on Tuesday, buoyed by red-hot semiconductor and energy stocks, sending a ripple effect across broader Asian markets. The benchmark KOSPI climbed 2 percent to 3,890, inching closer to the symbolic four-digit threshold. SK hynix continued its scorching run, breaching 500,000 won ($ 351.60), as investors piled in amid growing fear of missing out (FOMO) on a sustained memory chip rally. “SK hynix shar

October 21, 2025

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