South Korea weighs stockpiling as copper prices break records

SEOUL, December 09 (AJP) - Copper prices have surged to record highs as supply disruptions and rising demand from emerging technologies tighten the global market. The South Korean government plans to secure a 60-day stockpile of key minerals by next year. Lawmaker An Do-geol of the Democratic Party has called for an additional 39,000 tons of copper reserves over the next five years to support expanding power grids and data center infrastructure. According to the London Meta

December 9, 2025

All 12 CubeSats aboard Nuri rocket establish communication with ground stations

SEOUL, December 09 (AJP) - All 12 CubeSats launched aboard South Korea’s fourth Nuri rocket mission have successfully established communication with ground stations, confirming the full success of the launch, the Korea Aerospace Research Institute said on Monday. Previously unresponsive satellites — including EEE Tester-1 developed by the Korea Aerospace Research Institute, SpaceInTech’s B-1000 and Quaternion’s PERSAT — have now made contact. The

December 9, 2025

INTERVIEW: Data centers, nuclear power to drive next wave of overseas construction

SEOUL, December 09 (AJP) - South Korean construction companies must move beyond traditional building roles and reposition themselves as comprehensive value creators to remain competitive globally, said Han Man-hee, chairman of the International Contractors Association of Korea (ICAK). In an interview, Han said international clients are increasingly seeking partners capable of improving quality of life through integrated urban and infrastructure solutions, rather than firms focus

December 9, 2025

Korean big-box retailers shrink under decade-old regulations

SEOUL, December 08 (AJP) - South Korea’s largest hypermarket chains are steadily losing ground as long-standing regulatory constraints undermine their competitiveness while e-commerce and less-regulated rivals expand, industry data show. The total number of outlets operated by major chains — including E-Mart, Lotte Mart and Homeplus — fell 7.5 percent to 392 this year from 424 in 2017. E-Mart reduced its store count from 159 to 157, Lotte Mart from 123 to

December 8, 2025

Half of Korea's AI startups fail within three years, report shows

SEOUL, December 08 (AJP) - Nearly half of South Korean artificial intelligence startups fail to survive beyond three years, underscoring structural weaknesses in funding and commercialization, according to a report released on Monday by the Korea Industrial Technology Association. The association said the three-year survival rate of AI startups stood at 56.2 percent as of the end of 2023, well below the 72.7 percent survival rate of general AI companies and the 68.8 perc

December 8, 2025

Korean big techs toughen data-protection systems, Coupang faces lawsuits in U.S. and at home

SEOUL, December 08 (AJP) - Major South Korean digital-tech companies are scrambling to revisit their data-protection posture and reinforce security protocols after Coupang's colossal data breach put the personal information of more than 30 million shoppers at risk, triggering tougher regulatory scrutiny and a wave of litigations. The incident has laid bare the vulnerability of Koreans' private data in a society where virtually every aspect of daily life — banking, shop

December 8, 2025

Hana Financial expands India network with new Mumbai, Devanahalli branches

SEOUL, December 08 (AJP) - Hana Financial Group said Monday it has opened new branches in Devanahalli and Mumbai in India. The branches opened on Dec. 3 and Dec. 5, completing the group's “One India” network, which already includes operations in Chennai and Gurugram, launched in 2015 and 2019, respectively. India’s young population, large domestic market and rapid digital transformation have helped sustain annual economic growth of six to seven percent

December 8, 2025

Starlink's entry into S. Korea triggers push for independent satellite networks

SEOUL, December 08 (AJP) - SpaceX’s Starlink has formally entered the South Korean market, prompting domestic space and defense companies to reassess strategy amid growing concerns over dependence on foreign low-earth orbit (LEO) satellite networks for communications and military operations. Industry sources said Monday that Hanwha Systems, a major South Korean space and defense contractor, is reviewing its satellite communications plans as Starlink’s commercial roll

December 8, 2025

South Korea's economy shows gradual recovery as consumption improves: KDI

SEOUL, December 08 (AJP) - South Korea’s economy is showing signs of gradual improvement, driven by stronger consumer spending, but risks remain from a prolonged construction downturn and persistent global trade uncertainties, the state-run Korea Development Institute (KDI) said in a report published on Monday. In its December economic assessment, KDI said the delayed effects of interest rate cuts and continued government support were lifting household consumption, helping

December 8, 2025

Hyundai Mobis opens second software R&D center in Bengaluru

SEOUL, December 08 (AJP) - Hyundai Mobis, the parts-making affiliate of Hyundai Motor Group, said Monday it has established a specialized software research and development center in Bengaluru, India, as part of efforts to expand its presence in one of the world's fastest-growing automotive markets. The new facility in the southwestern Indian city, known as a hub for global technology firms and startups, will serve as a specialized base for infotainment software development. The

December 8, 2025