Korean instant noodle firms Samyang, Nongshim poised for strong earnings

SEOUL, July 09 (AJP) - South Korea’s leading instant noodle exporters, Samyang Foods and Nongshim, are expected to post robust second-quarter earnings, buoyed by growing overseas demand and a favorable currency rate. According to analyst consensus, Samyang Foods is projected to report 542.6 billion won ($395 million) in revenue for the April–June period, a 27.9 percent increase from the same period last year. Operating profit is forecast to rise 43 percent to 127.9

July 9, 2025

Trump's 200 percent drug tariff threat draws cautious response

SEOUL, July 9 (AJP) - South Korean pharmaceutical and biotech companies are preparing for potential U.S. tariffs on drug imports after President Donald Trump announced plans for sweeping trade measures that could impose duties of up to 200 percent. While the announcement has prompted firms like Celltrion and SK Biopharmaceuticals to activate contingency strategies, industry analysts say the broader impact on the Korean pharmaceutical sector is likely to be modest — at least fo

July 9, 2025

Korean agricultural machinery firms brace for 25 percent US import tariff

SEOUL, July 09 (AJP) - South Korea’s agricultural machinery industry is bracing for a major blow after the United States announced it would impose a 25 percent retaliatory tariff on all Korean imports beginning August 1, a move that threatens to disrupt one of the country's most export-reliant sectors. Among the hardest hit are leading tractor manufacturers Daedong and TYM, both of which derive a substantial portion of their revenue from the North American market. Dae

July 9, 2025

Power demand hits July record, prompting emergency measures

SEOUL, July 09 (AJP) - South Korea’s electricity demand surged to its highest level in three years this week, as an unusually early and intense heat wave swept across the country. National power consumption reached 93.4 gigawatts on Monday, surpassing the previous July record of 92.99 GW set in 2022. By Tuesday evening, the load climbed further to 95.7 GW, pushing electricity reserves below the critical 10 percent threshold for the first time this summer, according to data f

July 9, 2025

From streetwear to skincare, Seoul's Seongsu-dong emerges as Korea's 'Style Capital'

Editor's Note: This is the sixth article in our series exploring the evolving landscape of the Korean beauty industry and the products that captivate international visitors. SEOUL, July 08 (AJP) - In the heart of Seongsu-dong, a once-industrial neighborhood now transformed into one of Seoul’s trendiest enclaves, foreign visitors will find a curated showcase of South Korea’s rising fashion and beauty prowess — all under the banner of e-commerce powerhouse Musi

July 9, 2025

HD Hyundai Infracore secures deal to supply engines for K2 battle tanks

SEOUL, July 08 (AJP) - HD Hyundai Infracore has signed a 92.3 billion won (approximately $66.5 million) contract with South Korea’s Defense Acquisition Program Administration to supply engines for the K2 main battle tank. The deal covers phased deliveries of DV27K engines through 2028. The DV27K is a domestically developed 1,500-horsepower powerplant capable of propelling the 56-ton K2 tank at speeds of up to 70 kilometers per hour. It features a high-efficiency combustio

July 8, 2025

South Korea's economy stalls despite stimulus, KDI warns

SEOUL, July 8 (AJP) - South Korea’s economy continues to lose steam despite the rollout of a supplementary budget earlier this year, the state-run Korea Development Institute said in its latest monthly report, highlighting persistent weakness in the construction sector and mounting external pressures. In its July economic trends report released Tuesday, the institute offered a downbeat assessment of the economy’s trajectory, stating that growth indicators remained &ldquo

July 8, 2025

Insulin pump maker Sooil inks $21.6 million deal with Mediq

SEOUL, July 08 (AJP) - Sooil Development, a South Korean medical device company known for portable insulin pumps, says it has signed a four-year, 30 billion won (approximately $21.6 million) supply agreement with Mediq, Europe’s largest medical device distributor. The deal marks a significant step in Sooil’s effort to expand its footprint in Europe’s diabetes care market. Under the agreement, Sooil will supply Mediq with its Automated Insulin Delivery (AID) sy

July 8, 2025

Trump says will impose 25 percent tariffs on all Korean goods starting August

SEOUL, July 8 (AJP) - U.S. President Donald Trump has vowed to impose 25 percent tariffs on all South Korean goods starting Aug. 1, unless Seoul agrees to a new trade deal with the United States. In a letter posted to his social media platform, Trump gave the government of President Lee Jae Myung just three weeks to reach an agreement before the sweeping duties take effect. The announcement comes as his previous tariff measures are set to expire on Tuesday, heightening pressure o

July 8, 2025

Samsung Electronics reports 55.9 percent drop in Q2 operating profit

SEOUL, July 08 (AJP) - Samsung Electronics forecast a steep decline in its second-quarter operating profit, highlighting persistent challenges in the global tech industry despite signs of recovery in the semiconductor sector. The South Korean tech giant on Tuesday said it expects an operating profit of 4.6 trillion won, or approximately $3.5 billion, for the April to June period — down 55.9 percent from a year earlier. Revenue is projected to total 74 trillion won, a marg

July 8, 2025