Hyundai Motor Group considers constructing steel plant in US

SEOUL, January 8 (AJP) - Hyundai Motor Group is considering building its first overseas steel mill in the United States, as the company seeks to navigate potential trade barriers under the incoming Donald Trump administration, according to industry sources on Wednesday. The South Korean conglomerate is examining several locations, including Georgia, where it currently operates automotive manufacturing facilities, for the construction of a steel plant through its subsidiary, Hyundai

January 8, 2025

Samsung Electronics reports disappointing fourth-quarter earnings amid tech slowdown

SEOUL, January 08 (AJP) - Samsung Electronics reported an operating profit of 6.5 trillion won ($5.4 billion) for the fourth quarter of 2024, falling significantly short of market expectations despite a year-over-year increase of 130.5 percent. The earnings, disclosed in a preliminary report on Wednesday, marked a 29.2 percent decline from the previous quarter’s 9.2 trillion won profit and fell 15.7 percent below the market consensus of 7.7 trillion won. Analysts had init

January 8, 2025

[CES 2025] Forum links Korean startups with Silicon Valley experts

LAS VEGAS, January 7 (AJP) - A landmark forum spotlighting the global expansion of Korean startups convened alongside CES 2025, drawing over 100 technology and business leaders from South Korea and Silicon Valley. The inaugural Global International Growth Summit (GIGS), hosted by AJP and backed by South Korea's Ministry of SMEs and Startups served as a platform for discussing innovation, collaboration, and strategies to navigate global markets. "AI and machine learning

January 7, 2025

[CES 2025] Samsung unveils bold vision for AI-driven smart homes

LAS VEGAS, January 6 (AJP) - Samsung Electronics revealed an ambitious blueprint for the future of smart homes, showcasing its commitment to simplifying daily life through advanced artificial intelligence and seamlessly connected devices. During a high-profile press conference, Han Jong-hee, Samsung’s vice chairman and head of the Device eXperience (DX) division, introduced the company’s “Home AI” vision. The initiative leverages AI technology to learn hous

January 7, 2025

As Trump's tariff threats loom, Korea's trade dependency on US draws scrutiny

SEOUL, January 07 (AJP) - As the world braces for Trump’s proposed tariff policies, South Korea’s deepening reliance on trade with the United States is raising concerns. The trend runs counter to a global push to diversify trade relationships, reflecting a divergence that could leave Seoul vulnerable to shifting U.S. policies. Economic observers predict that global trade dynamics in the coming year will hinge on Trump’s policies. In a recent column for the

January 7, 2025

Korea's U.S. crude oil imports rise steadily despite premium pricing

SEOUL, January 7 (AJP) - South Korea's crude oil imports from the United States reached a record high in 2024, despite higher prices compared to Middle Eastern sources. According to data from the Korea National Oil Corp. on Monday, U.S. crude imports from January to November 2024 totaled 156.29 million barrels, surpassing the previous year's record of 142.37 million barrels. The import value amounted to $13.33 billion, positioning the United States as the second-largest c

January 7, 2025

[CES 2025] Samsung, LG, SK to present AI-driven innovations

LAS VEGAS, January 5 (AJP) - South Korea’s leading technology companies are poised to unveil groundbreaking advancements in artificial intelligence at CES 2025, the world’s largest electronics and IT trade show, which kicks off Tuesday here. The four-day event will also serve as a platform for these firms to forge strategic alliances with global tech giants, further cementing their standing in the international arena. As of Sunday (local time), two days before the o

January 6, 2025

[CES 2025] Korean firm to unveil smart glass technology

LAS VEGAS, January 5 (AJP) - KCC Glass, a South Korean glass manufacturer, said Monday that it will unveil technology capable of adjusting transparency using electric currents at CES 2025 in Las Vegas. At the four-day exhibition starting on Tuesday, the Korean firm will showcase its Variable Polarized Liquid Crystal (VPLC) technology. This innovation uses a transparent film attached to the glass, through which electric currents flow to control the transparency based on voltage. Th

January 6, 2025

HD Korea delivers first vessel of 2025

SEOUL, January 6 (AJP) - HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) kicked off 2025 with the delivery of its first vessel on Monday. The firm aims to complete 139 ships this year. The vessel, a 174,000-cubic-meter liquefied natural gas (LNG) carrier, was built at the HD Hyundai Samho Co. shipyard in South Jeolla Province. The ship was completed roughly two and a half years after the order was placed by an Asian shipping company in June 2022. The momentum conti

January 6, 2025

South Korea's export gap with China, US narrows to 21-year low

SEOUL, January 6 (AJP) - South Korea’s export gap between its two largest trading partners, the United States and China, narrowed to a mere $5.23 billion in 2024, marking its lowest level in 21 years, according to data released Monday by the Korea International Trade Association (KITA). Exports to China, traditionally South Korea’s largest trading partner, rose by 6.6 percent year-on-year to $133.02 billion. Meanwhile, shipments to the United States surged by 10.45 per

January 6, 2025