Discount stores crowd Korea's $5 billion health supplement market

SEOUL, October 08 (AJP) - The race for South Korea’s fast-growing health and dietary supplement market is intensifying as bargain retailers and convenience stores challenge traditional drugstores for a share of a wellness-driven, aging society where eight out of 10 households regularly take preventive supplements. According to Expert Market Research, Korea’s health supplement market was valued at $5.45 billion in 2024 and is projected to expand at a compound annual growt

October 8, 2025

Gold prices hit record high, surpass $3,900 point

SEOUL, October 06 (AJP) - Gold prices have reached an all-time high, surpassing $3,900 per troy ounce for the first time. This surge is attributed to increased demand for safe-haven assets amid the ongoing U.S. federal government shutdown. According to Reuters, gold prices briefly hit $3,919.59 early Monday, with December futures reaching $3,926.80. Gold has risen 49% this year, frequently setting new records. The price increase is driven by the prolonged U.S. governme

October 6, 2025

Shrinking bonuses and heavier taxes leave S. Korean workers frustrated ahead of Chuseok

SEOUL, October 06 (AJP) - As the Chuseok holiday approaches, many South Korean workers are expressing dissatisfaction. Economic uncertainty has led to reduced bonuses and increased tax burdens, dampening holiday spirits. More Time Off, Fewer Bonuses According to a survey by the Korea Employers Federation of 625 companies with five or more employees, only 60.4% plan to give Chuseok bonuses this year, down from 64.8% last year. This means 40% of companies are

October 6, 2025

Seoul and Washington edge closer on currency safeguard amid protracted tariff talks

SEOUL, October 06 (AJP) - South Korean Trade Minister Kim Jung-kwan said Monday that Seoul and Washington have reached a "considerable level of understanding" on concerns over possible turbulence in South Korea's foreign exchange market caused by the ongoing tariff negotiations with the United States. Speaking to reporters at Incheon International Airport after returning from New York, Kim said both sides were "narrowing their differences" on how to minimiz

October 6, 2025

Korean automakers turn out sales growth despite US tariffs

SEOUL, October 03 (AJP) - South Korea’s five major automakers posted a 5.4 percent increase in sales in September from a year earlier, overcoming stronger U.S. tariffs and partial union strikes at home. The companies shipped 683,150 vehicles last month, up 5.4 percent from a year ago, according to disclosures.Hyundai Motor sold 66,001 units domestically, up 18.3 percent, and 306,297 units overseas, up 6.4 percent, buoyed by robust performance of its key brands. “Ou

October 3, 2025

LG Energy Solution to resume US trips one month after detention of S. Korean workers

SEOUL, October 03 (AJP) - LG Energy Solution is sending staff back to the United States, ending a one-month freeze on business travel triggered by the mass detention of South Korean workers at its joint battery plant in Georgia. The move signals a step toward normalizing operations for South Korea’s battery industry, which had been rattled by the unprecedented crackdown. The company announced on October 2 that it would restart trips gradually after the Chuseok holiday, South

October 3, 2025

Chuseok Now and Then: Pleasure Weighs Over Tradition in Korea

SEOUL, October 02 (AJP) - Highways once jammed with cars crawling toward ancestral hometowns, kitchens filled with the labor of preparing feast tables, and families dressed in hanbok to perform rites of thanksgiving for the harvest—these were the defining images of Chuseok in South Korea. Today, in a depopulating society, the holiday looks very different. Many households skip or shorten the traditional observances, instead choosing leisure and travel. Inche

October 3, 2025

KOSPI soars past 3,500 milestone for first time on semiconductor rally

SEOUL, October 02 (AJP) - The main South Korean stock index, the KOSPI, surged to a historic close on Thursday, breaching the 3,500 level for the first time on record. Driven by a frenzied rally in technology and semiconductor shares, the benchmark index climbed 93.38 points, or 2.7 percent, to settle at 3,549.21, capping a day that saw the index peak at an intraday high of 3,565.96. The powerful upward trajectory was anchored by the nation's two memory chip giants. S

October 2, 2025

Hyundai Motor Group reports record US sales in Q3, driven by EVs, hybrids

SEOUL, October 02 (AJP) - Hyundai Motor Group reported its best-ever third-quarter sales in the U.S. market, Thursday, signaling resilience despite trade tensions and the looming expiration of key electric vehicle tax credits. The surge was largely attributed to burgeoning demand for its environmentally friendly vehicles. The combined U.S. sales for Hyundai and its affiliate Kia reached 480,175 units in the third quarter, a substantial 12 percent increase compared to the same

October 2, 2025

INTERVIEW: At Woori's Gangnam center, Kim Jae-sang builds home for super-rich

SEOUL, October 02 (AJP) - With global stock markets buoyant and demand for tangible assets rising, wealthy investors in South Korea are reassessing where to put their money. For Kim Jae-sang, head of Gangnam Financial Center of Woori Securities, the answers lie in gold — and in Asia’s two largest economies. “Gold has transitioned from a safe haven and inflation hedge to an investment asset,” Kim said in an interview. “And when it comes to equities,

October 2, 2025