Samsung, LG set for showdown in booming data center cooling market

SEOUL, January 19 (AJP) - Samsung Electronics and LG Electronics are set to compete head-to-head in North America as they seek a larger share of the heating, ventilation and air conditioning (HVAC) market, which is gaining momentum amid rapid growth in artificial intelligence infrastructure. With demand for home appliances slowing and competition from low-priced Chinese products intensifying, both South Korean companies are increasingly targeting data center heat-management soluti

January 19, 2026

Korean Air beats Q4 expectations, positioned for post-merger liftoff

SEOUL, January 19 (AJP) - Korean Air delivered stronger-than-expected fourth-quarter results, weathering a weak won that pushed up dollar-denominated fuel and aircraft lease costs, and easing concerns ahead of its planned full integration with Asiana Airlines next year. Operating profit came to 413.1 billion won ($280 million) in the October–December period, down 5.1 percent from a year earlier but comfortably above market expectations of around 360 billion won. Revenue rose 1

January 19, 2026

Xiaomi targets budget segment with Poco M8 5G launch in Korea

SEOUL, January 19 (AJP) - Xiaomi Korea said on Monday it will release the POCO-brand smartphone Poco M8 5G in South Korea on Jan. 26, with a list price of 339,900 won ($250). Preorders will run through Jan. 25 via Xiaomi’s official online store, Mi.com, as well as major online retail platforms, the company said. The Poco M8 5G is powered by Qualcomm’s Snapdragon 6 Gen 3 Mobile Platform, according to Xiaomi. The device supports artificial intelligence features in

January 19, 2026

South Korea, Sweden sign clean energy cooperation pact

SEOUL, January 19 (AJP) - South Korea’s Ministry of Climate, Energy and Environment signed a memorandum of understanding with Sweden on Monday to expand cooperation on the clean energy transition and power systems. The MOU was signed at the Westin Josun Seoul in central Seoul. Attendees included Lee Ho-hyun, the ministry’s second vice minister, and Maya Lundbäck, Sweden’s state secretary for energy at the Ministry of Climate and Enterprise. The minist

January 19, 2026

South Korea fines 5 foreign financial firms for illegal short selling

SEOUL, January 19 (AJP) - South Korean financial authorities have imposed a combined 3.97 billion won ($2.9 million) in administrative fines on six firms, including five foreign financial companies, for illegal short selling, officials said Monday. The Securities and Futures Commission under the Financial Services Commission decided on Oct. 15 to fine Shinhan Asset Management 370.6 million won for violating short-selling rules. Details of the decision were disclosed on the FSC w

January 19, 2026

Celltrion's Zymfentra gains preferred drug status on major U.S. healthcare formulary

SEOUL, January 19 (AJP) - Celltrion's Zymfentra, the world's only subcutaneous infliximab treatment, has secured preferred drug status on the formulary of Evernorth Health Services, a subsidiary of U.S. healthcare giant Cigna Group. The listing marks a significant milestone for the South Korean biopharmaceutical company as it seeks to accelerate sales of the autoimmune disease treatment in the world's largest pharmaceutical market. Cigna operates Express Scripts, one

January 19, 2026

Hyundai Glovis installs SpaceX's Starlink to enhance vessel safety, connectivity

SEOUL, January 19 (AJP) - Hyundai Glovis said Monday it has begun installing low-Earth-orbit satellite communications service Starlink across its fleet, aiming to accelerate digital transformation in shipping while enhancing vessel safety management. The logistics and shipping arm of Hyundai Motor Group is rolling out Starlink on 45 company-owned vessels, including car carriers and bulk carriers. Installation will be carried out sequentially, starting with ships calling at local p

January 19, 2026

Samsung hires former Microsoft executive to bolster EU policy response

SEOUL, January 19 (AJP) - Samsung Electronics has hired Jeremy Rollison, a U.S.-born European Union digital policy specialist who previously worked at Microsoft, as an executive director-level official, in a move widely seen as aimed at strengthening the company’s response to tightening EU digital regulation. Rollison, 46, has begun work with Samsung’s Europe external relations team in Brussels, the hub of EU policymaking. He spent more than a decade at Microsoft h

January 19, 2026

Seoul, Beijing to hold follow-up FTA talks on services, investment this week

SEOUL, January 19 (AJP) - South Korea and China will hold a new round of follow-up negotiations on services and investment under their bilateral free trade agreement from Monday through Friday in Beijing, South Korea’s Ministry of Trade, Industry and Energy said. The two governments agreed at a summit between their leaders in Beijing on Jan. 5 to work toward achieving meaningful progress in the negotiations within this year. The follow-up talks will focus on further mar

January 19, 2026

Luxury hotels and retailers target 'rite rush' as S, Koreans outsource ancestral duties

SEOUL, January 18 (AJP) - As the Lunar New Year holiday approaches next month, luxury hotels and major retailers in South Korea are aggressively targeting a niche but rapidly growing market: the "to-go" ancestral rite table. The hospitality industry is capitalizing on a significant cultural shift where families are increasingly willing to pay a premium to outsource the labor-intensive cooking required for the holiday, turning a domestic duty into an affordable service. T

January 18, 2026