Business
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South Korea unveils plan to build own ChatGPT, Gemini competitor
SEOUL, June 20 (AJP) - South Korea has unveiled an ambitious national initiative to develop its own artificial intelligence foundation model, aiming to reduce reliance on U.S. tech giants and establish a competitive foothold in the fast-evolving global AI race. The Ministry of Science and ICT said Friday it will accept applications from domestic AI consortiums through July 21 to participate in the project, which seeks to build a “Korean GPT” — a large language mode
June 20, 2025 -
Beauty brand Amuse opens second flagship store
SEOUL, June 20 (AJP) - Vegan beauty brand Amuse unveiled its second flagship store on Friday in Seoul’s fashion-forward Seongsu-dong district, aiming to broaden its appeal among younger consumers and international fans with a digitally enhanced, immersive retail experience. The new storefront, dubbed the “Pink House,” occupies a brightly colored space on Yeonmujang-gil and marks an expansion of the brand’s offline footprint. It follows the launch of Amus
June 20, 2025 -
South Korea extends bidding deadline for controversial offshore gas project
SEOUL, June 20 (AJP) - South Korea has extended the bidding deadline for international energy companies to join its contentious East Sea offshore gas development project, as foreign firms seek assurances about the new administration’s stance on an initiative spearheaded by the previous government. The state-run Korea National Oil Corporation (KNOC) has delayed the original June 20 deadline by several weeks, industry officials said, following requests from interested bidders fo
June 20, 2025 -
MSCI upgrades Korea's short-selling rating, but cites lingering barriers
SEOUL, June 20 (AJP) - Global index provider MSCI has upgraded South Korea’s short-selling accessibility rating in its annual market accessibility review, marking a modest step forward in the nation’s yearslong effort to join the MSCI World Index. Still, the firm warned that broader foreign investor access remains hampered by longstanding structural hurdles. The upgrade — moving South Korea’s short-selling rating from “negative” to “posit
June 20, 2025 -
Korean sunscreens — a local treasure for global visitors
Editor's Note: This is the fifth article in our series exploring the evolving landscape of the Korean beauty industry and the products that captivate international visitors. SEOUL, June 18 (AJP) - As summer intensifies and international tourism to South Korea rebounds, one skincare essential consistently finds its way into visitors’ shopping baskets: Korean sunscreen. But while global demand for K-beauty SPF products has soared, the formulas that foreign consumers favor
June 20, 2025 -
HD Hyundai deepens investment in Bill Gates–backed nuclear start-up
SEOUL, June 19 (AJP) - HD Hyundai said Thursday it has strengthened its partnership with TerraPower, joining a $650 million funding round led by the U.S. nuclear firm. The fresh capital infusion will help finance construction of the first commercial Natrium reactor in the United States and support broader international deployment of TerraPower’s small modular reactor (SMR) technology, according to the company. Founded in 2006 by Bill Gates, TerraPower is developing
June 19, 2025 -
Fed holds rates, prompting caution in Seoul about monetary easing
SEOUL, June 19 (AJP) - The U.S. Federal Reserve has opted to keep interest rates unchanged for a fourth consecutive meeting, a decision that is expected to prompt South Korea’s central bank to adopt a more cautious approach to monetary easing in the month ahead. The Fed’s decision, made during the June 17–18 Federal Open Market Committee (FOMC) meeting, leaves the U.S. benchmark rate at 4.25 to 4.50 percent. The Bank of Korea (BOK), which lowered its key rate
June 19, 2025 -
South Korea's construction output sees sharpest decline in decades
SEOUL, June 19 (AJP) - South Korea’s construction sector recorded its steepest quarterly contraction since the 1997-98 Asian financial crisis, as both public and private projects ground to a halt amid tightening budgets and waning demand. The total value of construction completed in the first quarter fell 21.2 percent year-on-year to 26.87 trillion won (approximately $19.5 billion), according to data released Thursday by the Korea Research Institute for Construction Policy.
June 19, 2025 -
Older DDR4 memory chips now outprice newer DDR5s
SEOUL, June 19 (AJP) - In a rare twist in the global semiconductor market, older-generation DDR4 memory chips are now trading at higher prices than more advanced DDR5s, signaling a short-term disruption in traditional pricing dynamics. According to DRAMeXchange, a market research firm tracking semiconductor prices, 16-gigabit DDR4 chips traded at an average of $7.00 each on Tuesday, surpassing DDR5 chips of the same capacity, which averaged $5.90. The reversal — first obs
June 19, 2025 -
Hyundai Card launches 'Black Card' in Korea for ultra-wealthy
SEOUL, June 19 (AJP) - Hyundai Card has introduced the American Express Centurion Card — commonly known as the “Black Card” — in South Korea for the first time, marking a bold entry into the ultra-premium credit card segment long dominated by global issuers. Recognized worldwide for its exclusivity and luxury, the Centurion Card represents the pinnacle of the AMEX hierarchy, sitting above the Platinum, Gold, and Green cards. The launch follows Hyundai Ca
June 19, 2025
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K-pop band BTS to release live album as full group reunites after military service
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US pharma industry urges trade pressure on South Korea over drug pricing
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HYBE, Kakao bet on India's media, entertainment markets
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Trump may seek meeting with Kim Jong-un at Panmunjom during October APEC visit, says Victor Cha
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Independent prosecutors reschedule questioning as ex-President Yoon fails to appear
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Lee to hold press conference to mark 30 days in office
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Lee holds phone talks with Singapore PM
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Emart24 to launch first Korean convenience store in India this August
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INTERVIEW: Quebec sees South Korea as key trade partner in shifting global landscape
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Naver Cloud signs MOU with New Murabba to support Saudi Arabia's smart city ambitions