Business
-
Samsung screens coral reef documentary at UN Ocean Conference
SEOUL, June 13 (AJP) - Samsung Electronics premiered its self-produced documentary, Coral in Focus, at the United Nations Ocean Conference, marking World Oceans Day with a spotlight on marine conservation efforts. The screening, held in the coastal city of Nice, drew an audience of roughly 70 attendees, including representatives from international organizations, marine scientists, and environmental advocates. The film explores the escalating crisis facing coral reef ecosystems
June 13, 2025 -
Samsung raises bet on robotics with investment in US startup
SEOUL, June 13 (AJP) - Samsung Electronics has invested $10 million in Skild AI, a California-based robotics software company developing artificial intelligence systems for autonomous machines, as part of a broader push into the emerging field of physical AI. The investment is part of Skild AI’s $4.5 billion Series B funding round, led by Japan’s SoftBank, which contributed $100 million. Nvidia also joined the round with a $25 million stake. Several other South Kore
June 13, 2025 -
Korean petrochemical firms seek lifeline through mergers as losses mount
SEOUL, June 13 (AJP) - South Korea’s beleaguered petrochemical industry is turning to consolidation as a potential lifeline, with Lotte Chemical and HD Hyundai reportedly in discussions to integrate their naphtha cracking operations. The move comes as domestic producers reel from plunging profits and stiff competition from China and the Middle East. Lotte Chemical’s operating profit plummeted nearly 64 percent in the past year, falling from 2.59 trillion won ($1.9 bil
June 13, 2025 -
Korea's leading online bookstore admits possible data breach after ransomware attack
SEOUL, June 12 (AJP) - Yes24, South Korea’s largest online bookstore, acknowledged for the first time on Thursday the possibility that customer data may have been compromised in a ransomware attack that has crippled its operations for days. In a statement posted on its official website, the company said it would individually notify customers if investigators confirm that personal data had been leaked. The announcement came one day after the Personal Information Protection C
June 12, 2025 -
Kakao charts new course with AI push, global ambitions
Editor's Note: This article is the 22nd 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 12 (AJP) - Kakao Corporation, once a scrappy start-up with a single messaging app, has grown into one of South Korea’s most powerful tech conglomerates — a digital behemoth whose services permeate nearly every aspect of daily life for millions of K
June 12, 2025 -
Snap to launch lighter, smarter AR glasses next year
SEOUL, June 12 (AJP) - Snap Inc., the parent company of Snapchat, is making a renewed bet on hardware with the announcement of a next-generation pair of augmented reality smart glasses, known simply as “Specs.” Set to launch in 2026, the new device represents a shift in strategy for the social media company, which has previously released AR glasses under the “Spectacles” brand, primarily targeting developers and creators. This latest iteration, however,
June 12, 2025 -
Government to confront climbing grocery costs in meeting with industry groups
SEOUL, June 12 (AJP) - Kim Min-seok, President Lee Jae-myung's nominee for prime minister, is set to hold talks on Friday with representatives from the nation’s food and restaurant sectors as the government confronts growing public frustration over rising consumer prices. According to officials familiar with the issue, the meeting will take place in Seoul and will include representatives from the Korea Food Industry Association, the Korea Foodservice Industry Association,
June 12, 2025 -
Hyundai Steel halts operations at Pohang plant amid falling demand
SEOUL, June 12 (AJP) - Hyundai Steel has indefinitely suspended operations at its Pohang Plant No. 2, one of South Korea’s key production hubs for steel H-beams, citing deteriorating market conditions and a complete lack of production orders. The shutdown, which took effect on June 7, marks a significant retrenchment for the nation’s second-largest steelmaker. The Pohang facility had already been operating under a reduced two-shift system since late 2024 in response
June 12, 2025 -
Xiaomi to open its first offline store in Korea
SEOUL, June 11 (AJP) - Chinese electronics giant Xiaomi will open its first offline retail store in South Korea later this month, the company said on Wednesday. Branded as the “Mi Store,” the retail space will be located on the second floor of the IFC Mall in Yeouido, Seoul. The store is designed to be more than a traditional retail outlet, offering product experience zones and on-site customer support services. The move signals Xiaomi’s broader ambitions in t
June 11, 2025 -
Trump trade war to hit US harder than China: World Bank
SEOUL, June 11 (AJP) - The World Bank sharply lowered its forecast for U.S. economic growth this year, citing mounting fallout from the Trump administration’s trade policies. In its latest Global Economic Prospects report, released Tuesday, the bank revised its U.S. growth estimate to 1.4 percent for 2025, down from 2.8 percent in 2024. The Washington-based institution attributed the downgrade primarily to U.S. President Donald Trump’s tariff measures, which it said a
June 11, 2025
-
Prosecution chief steps down citing concerns over prosecutorial reform
-
S. Korea greenlights national consumption coupon plan amid heated budget review
-
Korean biotech firm DewCell partners with Thermo Fisher on artificial platelet project
-
PHOTOS: Beauty of Mount Kumgang in North Korea
-
'Squid Game' finale maintains top spot among TV shows on Netflix
-
Creator of 'Squid Game' responds to American spinoff rumors
-
Korean convenience store chains accelerate global push with growth stalling at home
-
US faces greatest economic risk in global trade war: BOK
-
Early heat wave brings record temperatures across country
-
K-pop band BTS to release live album as full group reunites after military service