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

South Korean Air Force to work with science ministry to develop quantum-based weapons

SEOUL, October 20 (AJP) - The Ministry of Science and ICT and the South Korean Air Force signed an agreement Monday to collaborate on developing next-generation weapon systems powered by quantum technology. The signing took place at the KINTEX convention center in Ilsan, northwest of Seoul. Quantum technologies — long touted for their potential to revolutionize both civilian and military systems — could enable GPS-independent navigation, stealth detection, and eve

October 20, 2025

Asian shares broadly higher early Mon, led by Nikkei's rally to new highs

SEOUL, October 20 (AJP) - Asian markets opened higher across the board Monday, led by Japan, as political uncertainties eased following Sanae Takaichi’s likely premiership and sentiment in China improved after the central bank left its loan prime rates unchanged for October. Japan’s Nikkei 225 surged 2.6 percent in early trading to hit fresh record highs after reports of a political breakthrough in Tokyo — a coalition deal between the ruling Liberal Democratic

October 20, 2025

South Korea's DAPA signs pact with Brazil's Embraer to expand transport aircraft partnership

SEOUL, October 20 (AJP) - South Korea’s defense procurement agency has signed an agreement with Embraer, Brazil’s leading aerospace manufacturer, to deepen industrial ties and expand Korean participation in the company’s global supply chain. According to the Defense Acquisition Program Administration (DAPA) on Monday, the agency signed a memorandum of understanding with Embraer S.A. during the Seoul International Aerospace and Defense Exhibition (ADEX) 2025 in

October 20, 2025

Taiwan to surpass South Korea in per capita GDP in 2025: IMF

SEOUL, October 20 (AJP) - South Korea is set to lose its long-held economic edge over Taiwan this year, according to new projections from the International Monetary Fund. The IMF expects South Korea’s per capita gross domestic product to fall to 37th place globally, while Taiwan’s rises to 35th, marking the first time in 22 years that Taiwan will surpass its East Asian rival. In its World Economic Outlook released on Oct. 15, the IMF estimated South Korea’s

October 20, 2025

Overdue credit card loans rising fast in South Korea

SEOUL, October 20 (AJP) - South Koreans are falling behind on their credit card bills at a record pace, as higher interest rates and tighter bank lending drive more households to rely on card loans to make ends meet. According to data released by the office of Rep. Kang Min-kook of the main opposition People Power Party, citing the Financial Supervisory Service, credit card debt overdue for more than a month reached nearly 1.5 trillion won ($1.1 billion) as of the end of August

October 20, 2025