Business
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LS, with eyes on Europe and beyond, builds battery, energy empire
Editor's Note: This article is the 23rd installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, June 18 (AJP) - Despite mounting uncertainty in the global electric vehicle market, South Korea’s LS Group is standing firm on its long-term investment plans in battery materials and carbon-free electricity, pledging there will be “no reduction in investm
June 19, 2025 -
Forum highlights need for economic 'reboot' in face of industrial upheaval
SEOUL, June 18 (AJP) - As South Korea faces mounting pressure to stay competitive in an era of rapid technological change, policymakers and industry leaders gathered Wednesday at a technology forum in Seoul to urge sweeping innovation and a reimagining of the country’s growth strategy. The Aju Future Strategy Forum, hosted by Aju News Corporation and held at the FKI Tower in Yeouido, convened government officials, lawmakers, and economic experts to assess the challenges confro
June 18, 2025 -
Korean government unveils plan for national AI service, major R&D expansion
SEOUL, June 18 (AJP) - South Korea's Ministry of Science and ICT announced sweeping plans on Wednesday to accelerate the nation’s artificial intelligence capabilities, pledging to launch a state-sponsored AI service and boost research and development funding by more than 4 trillion won (approximately $2.9 billion). In a policy briefing to the National Policy Planning Committee at the Government Complex in Sejong, ministry officials outlined a strategy that favors promotion
June 18, 2025 -
Eco-friendly vehicles outpace gasoline cars in S. Korea for first time
SEOUL, June 18 (AJP) - For the first time, sales of eco-friendly vehicles have overtaken those of internal combustion engine (ICE) cars in South Korea, signaling a pivotal shift in one of Asia’s most technologically advanced auto markets. According to data released by the Ministry of Trade, Industry and Energy, sales of electric, hydrogen fuel cell, and hybrid vehicles accounted for 52 percent of domestic auto sales in May. A total of 73,511 eco-friendly units were sold, out
June 18, 2025 -
Hanwha Ocean eyes Brazil oil platform deal
SEOUL, June 17 (AJP) - Hanwha Ocean is preparing a bid for a major Brazilian offshore oil platform project, signaling its return to the high-stakes Floating Production Storage and Offloading (FPSO) market. The company’s participation in the Petrobras-led P-86 project marks its first FPSO tender. It also reflects a broader strategic pivot toward high-value offshore energy infrastructure as the global industry recovers from years of volatility and underinvestment. Hanwha Oc
June 17, 2025 -
Hyundai Glovis invests $145 million to acquire Asiana Airlines' cargo unit
SEOUL, June 17 (AJP) - Hyundai Glovis has stepped up its ambitions in global air logistics, committing 200.6 billion won (approximately $145 million) to a private equity fund backing Air Incheon’s acquisition of Asiana Airlines’ cargo division. The move strengthens Glovis’s position in the freight sector and grants it preemptive rights in the event of a future sale of the combined cargo carrier. The investment was disclosed in a regulatory filing on June 16 an
June 17, 2025 -
S. Korea plans $14 billion second supplementary budget to boost economy
SEOUL, June 17 (AJP) - The South Korean government is expected to introduce a 20 trillion won (approximately $14.6 billion) supplementary budget on Thursday, part of a broader effort to revitalize the nation’s faltering export-driven economy. The proposal, which would mark the second supplementary budget of 2025, is scheduled for submission at the cabinet meeting on June 19. It follows a 13.8 trillion won stimulus package announced in May and is aimed at boosting domestic cons
June 17, 2025 -
Samsung starts key meetings to chart course through geopolitical, trade turbulence
SEOUL, June 17 (AJP) - Samsung Electronics on Tuesday convened its biannual global strategy meeting at its headquarters in Seoul, gathering top executives and international subsidiary heads to chart a path forward. The four-day meeting, held each June and December, provides a forum for the South Korean firm's leadership to assess challenges across markets and divisions, and coordinate marketing and production strategies for the months ahead. This week’s meetings are l
June 17, 2025 -
Korean biotech firms showcase innovation at BIO International Convention
SEOUL, June 17 (AJP) - Global biotechnology leaders and emerging innovators have convened in Boston as the 2025 BIO International Convention opened, drawing an estimated 20,000 industry professionals from across the world. The four-day event, held at the Boston Convention and Exhibition Center, marks the 32nd edition of the world’s largest biotechnology trade show. “BIO 2025 offers Korean biotech companies an unparalleled global platform to showcase their technologies
June 17, 2025 -
S. Korean companies evacuate employees from Israel amid escalating conflict
SEOUL, June 17 (AJP) - As military tensions between Israel and Iran continue to escalate, South Korea’s largest technology firms are relocating employees and implementing precautionary measures to safeguard their personnel in the region. Samsung Electronics and LG Electronics confirmed Tuesday that they have withdrawn South Korean staff and their families from Israel, relocating them to neighboring Jordan in response to growing security concerns. Samsung, which maintains
June 17, 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