High-income YouTubers under crackdown over unreported earnings

SEOUL, July 14 (AJP) - South Korea’s tax authorities have ramped up enforcement efforts against YouTubers and other online content creators, uncovering widespread tax evasion and imposing billions of won in penalties. According to data submitted to ruling party lawmaker Jung Tae-ho by the National Tax Service (NTS), audits were conducted on 21 YouTubers in 2024 alone, resulting in 8.9 billion won (approximately $6.45 million) in penalties. The intensified scrutiny reflects gro

July 14, 2025

LG targets global markets for StandbyME 2 portable screen after domestic success

SEOUL, July 14 (AJP) - LG Electronics will begin the global rollout of its StandbyME 2 portable screen this week. The company plans a phased international launch, starting with Hong Kong and Turkey this week. Additional markets, including the United States, Canada, Vietnam, and Singapore, will follow in July, with the United Kingdom, Germany, France, and Spain scheduled for August. The StandbyME 2, a second-generation upgrade of LG’s portable screen lineup, recorded stron

July 14, 2025

Korean steelmakers struggle under US tariff pressure, global glut

SEOUL, July 14 (AJP) - South Korea’s steelmakers endured another punishing quarter as a persistent global supply glut collided with a sharp escalation in U.S. tariffs. Steel exports from South Korea fell 5.9 percent year-on-year to $15.63 billion in the first half of 2025, according to the Ministry of Trade, Industry and Energy. The downturn accelerated in May and June — dropping 12.4 percent and 8.0 percent respectively — as the full effects of the Trump administr

July 14, 2025

Samsung supplies advanced image sensor to Xiaomi, challenging Sony in global market

SEOUL, July 14 (AJP) - Samsung Electronics has begun external shipments of its newest image sensor, the Isocell JNP, to Chinese smartphone maker Xiaomi, marking a key step in the firm's effort to challenge Sony’s long-standing dominance in the global image sensor market. The Isocell JNP, which features Samsung’s industry-first nanoprismatic technology, has been integrated into Xiaomi’s new CIVI 5 PRO smartphone, the company’s latest flagship equipped with

July 14, 2025

Soaring fruit prices in South Korea reflect strain of heat wave

SEOUL, July 14 (AJP) - Fruit prices in South Korea have surged sharply in recent weeks, as an early summer heat wave scorches the country, disrupting crop yields and straining supply chains. Watermelons and napa cabbage — summertime staples — have seen particularly steep price increases, prompting emergency measures from the government. As of July 11, the average retail price of a watermelon stood at 29,115 won, or about $21.16, according to data from the Korea Agro-F

July 14, 2025

Kazakhstan showcases exports at Korea Import Fair 2025 in Seoul

SEOUL, July 13 (AJP) - Kazakhstan highlighted its national products and services at the Korea Import Fair 2025, held in Seoul from July 7 to 9, as part of efforts to deepen trade relations with South Korea. The Kazakhstan Embassy in the Republic of Korea said that the event was hosted by the Korea Importers Association (KOIMA), with support from South Korea's Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA). More than 200 companies f

July 13, 2025

South Korean companies accelerate China exit amid trade tensions

SEOUL, July 12 (AJP) - South Korean companies are rapidly withdrawing from China as regulatory pressures and trade tensions make operations increasingly unprofitable, with major manufacturers joining what was once limited to retail firms. About 40 major South Korean companies have closed or downsized their Chinese operations since 2017, according to the Korea Institute for International Economic Policy. The trend has expanded beyond retail to encompass key manufacturing sectors incl

July 12, 2025

US tariff revenue hits record high as trade war escalates

SEOUL, July 12 (AJP) - The United States recorded its highest-ever monthly tariff revenue in June, collecting $27.2 billion as the Trump administration's aggressive trade policies continue to reshape federal finances. The figure represents a nearly four-fold increase from the same period last year, according to Treasury Department data released Friday. The surge in tariff income helped push total federal revenue to a record monthly high of $526 billion, up 13 percent from June 2

July 12, 2025

YouTubers shape K-beauty retail in Leferi's latest Select Store pop-up

SEOUL, July 11 (AJP) - South Korean beauty content company Leferi has launched its fourth Select Store pop-up event, showcasing a curated lineup of Korean cosmetics selected through a sweeping analysis of YouTube beauty content. Running through July 13 at Starfield COEX Mall, Hanam, and Suwon, the Select Store – THE KYEA SELECTION features 21 standout products from 13 brands, including Jung Saem Mool, AHC, and TOKO. What sets this edition apart is its methodology: rather th

July 11, 2025

Korea's top yards post triple-digit profit growth

SEOUL, July 11 (AJP) - South Korea’s top three shipbuilders — HD Korea Shipbuilding & Offshore Engineering (HD KSOE), Hanwha Ocean, and Samsung Heavy Industries — are projected to post a combined operating profit of more than 2.57 trillion won ($1.86 billion) for the first half of 2025, more than triple the earnings from a year earlier, as the industry rides a wave of high-margin vessel deliveries and growing defense contracts. The projected total marks a 226

July 11, 2025