Journalist
Candice Kim, Lim Jaeho
candicekim1121@ajupress.com, ajupresswogh@ajupress.com
-
US expands tariffs on steel-based appliances, raising stakes for Korean firms SEOUL, June 24 (AJP) - The Trump administration has expanded tariffs on steel-derived goods to include a wide range of major home appliances, a move expected to heighten costs for foreign manufacturers and potentially ripple through U.S. retail prices. The new measures, announced by the Commerce Department this month and taking effect Monday, target appliances such as refrigerators, freezers, dishwashers, washing machines, cooking stoves and garbage disposals. The tariffs will be assessed based on each product’s steel content, a calculation designed to incentivize domestic sourcing of steel and reduce dependency on imports. The move poses a fresh challenge for South Korea’s Samsung Electronics and LG Electronics, two of the largest appliance exporters to the United States. Analysts warn the expanded duties could erode the price competitiveness of Korean brands in an already fragile consumer market. The action echoes a similar policy from 2018, when tariffs on imported washing machines — initially set at 20 percent and rising to 50 percent — were imposed following a petition by Whirlpool. Those duties were credited with pushing washing machine prices up by about 20 percent by mid-2018. From February 2018 through February 2023, washing equipment prices climbed 34 percent, according to the Bureau of Labor Statistics. The broader implications for global supply chains — and South Korea’s tech giants in particular — remain unclear. Samsung and LG have both expanded manufacturing operations within the U.S. in recent years, but they continue to rely on global sourcing for parts and components. 2025-06-24 14:27:40 -
HD Hyundai partners with US firm to construct commercial vessels in US SEOUL, June 23 (AJP) - HD Hyundai has signed a strategic partnership with American marine services company Edison Chouest Offshore to jointly construct commercial vessels in the United States, HD Hyundai said Monday. The agreement, signed in New Orleans, Louisiana, marks HD Hyundai’s latest move to expand its footprint in the U.S. shipbuilding market. Under the deal, the two companies plan to begin building medium-sized liquefied natural gas dual-fuel container ships at Edison Chouest’s facilities by 2028. HD Hyundai will contribute vessel design, construction technology, and some manufacturing support. The company will also supply ship blocks and oversee equipment procurement. Edison Chouest, based in Louisiana, operates five commercial shipyards and is a dominant player in the offshore support vessel sector, with a fleet of roughly 300 ships built and operated in-house. However, it has limited experience in the construction of commercial vessels like container ships — an area where HD Hyundai is a global leader. The partnership brings together the complementary strengths of the two firms: Hyundai’s technological prowess and Edison Chouest’s U.S. manufacturing base. Officials said the alliance will support Hyundai’s long-term goal of entering the American shipbuilding market while helping Edison Chouest diversify into new vessel types. The companies also signaled plans to explore future cooperation in related sectors, including port crane operations — an area considered strategically sensitive due to its implications for national security. 2025-06-23 16:40:27 -
Tariffs take toll as Korea's steel exports to US drop sharply in May SEOUL, June 23 (AJP) - South Korea’s steel exports to the United States fell sharply in May, marking the first significant contraction since Washington imposed new tariffs earlier this year, trade data released Monday showed. According to the Korea International Trade Association, shipments to the U.S. declined 16.3 percent year-on-year to $327 million, down from $390 million in May 2024. The slump comes as the full effects of the 25 percent tariffs on steel and aluminum, enacted March 12, begin to ripple through the global supply chain. Prices also tumbled. Export unit prices fell 9.4 percent to $1,295 per ton in May from $1,429 a year earlier. The month-over-month drop was even steeper: a 14.6 percent decline from April’s $1,517 per ton, suggesting that Korean producers have begun absorbing tariff-related costs in order to preserve market share. “The structure of the steel trade means there is typically a two- to three-month lag between policy implementation and export data,” said Chang Sang-sik, director of the Korea International Trade Association’s trade research institute. “We’re now seeing the full materialization of tariff impacts, as Korean exporters start shouldering the cost burden to sustain volumes.” While monthly export volumes have hovered between 240,000 and 250,000 tons for much of the year, the steep price cuts in May indicate a strategic recalibration by South Korean steelmakers such as POSCO and Hyundai Steel. Analysts warn the downward pressure is unlikely to ease. On June 4, the United States doubled its tariff on South Korean steel to 50 percent, a move expected to further undermine competitiveness and prompt American buyers to turn to alternative suppliers. 2025-06-23 10:54:36 -
Police charge 15 more officials over December Jeju Air crash SEOUL, June 21 (AJP) - South Korean police have filed criminal charges against 15 additional officials for their alleged roles in failing to prevent the Dec. 29 Jeju Air passenger jet crash, investigators announced on Saturday. The South Jeolla Provincial Police's investigation unit charged the officials with professional negligence resulting in death and injury, bringing the total number of suspects under investigation to 24 people including those previously charged following complaints filed by victims' families. The newly charged individuals include Ministry of Land, Infrastructure and Transport officials, Korea Airports Corporation employees, and personnel from companies involved in localizer facility construction. Police allege each failed to properly fulfill their duty of care in their respective positions, including air traffic control duties, bird strike prevention measures, and localizer facility construction oversight. Investigators identified particularly serious violations related to the concrete localizer structure installed at the end of the runway, which they consider a critical safety breach. Air traffic controllers allegedly failed to adequately observe bird movements and flight paths or properly inform the pilot of bird activity. According to ministry guidelines, controllers must provide pilots with information about bird flocks, including their size and direction of movement, for at least 15 minutes when birds are observed. Police also found evidence that bird control personnel failed to properly carry out preventive measures against bird strikes. Authorities plan to review whether to seek arrest warrants based on the severity of each individual's negligence and will consider additional charges pending results from localizer facility assessments and engine disassembly investigations. 2025-06-21 17:32:40 -
Samsung and SK hynix on edge as US considers restricting equipment shipments to China facilities SEOUL, June 21 (AJP) - Samsung Electronics and SK hynix are closely monitoring developments after US officials reportedly notified the South Korean chipmakers this week about potential restrictions on American semiconductor equipment shipments to their China-based facilities, according to a report on Friday. The Wall Street Journal reported that Jeffrey Kessler, assistant secretary for export administration at the US Commerce Department, informed both companies along with Taiwan's TSMC about plans to revoke exemptions that currently allow unrestricted equipment supplies to their Chinese operations. The proposed measures would effectively block US semiconductor equipment from companies including Applied Materials, Lam Research and KLA from entering Chinese facilities operated by foreign chipmakers. This represents the latest move by the Trump administration to curb China's semiconductor capabilities, following previous restrictions on high-bandwidth memory exports and the ongoing ban on ASML's extreme ultraviolet lithography equipment exports to China since 2019. Industry experts suggest the impact on Korean companies may be limited, as firms have had time to prepare contingency plans since the Biden administration began implementing "de-risking" policies targeting China's presence in critical technology supply chains. An industry research specialist noted that companies have had time to develop countermeasures since equipment import restrictions for Chinese facilities have existed previously, suggesting the new limitations may not cause significant concern. Samsung operates NAND flash production and semiconductor packaging facilities in Xi'an and Suzhou respectively, while SK hynix runs DRAM manufacturing in Wuxi, packaging operations in Chongqing, and a NAND facility in Dalian acquired from Intel. Both companies are carefully monitoring the situation as the proposed policy has not received full approval from other US government departments, according to the Wall Street Journal report. The US government previously granted exemptions to Samsung and SK hynix when it announced semiconductor export controls in October 2022, initially providing a one-year waiver before designating both companies as "verified end users" for indefinite exemption. Industry observers suggest similar exemptions could emerge again, noting that US measures target Chinese companies rather than foreign firms operating in China, leaving room for potential policy adjustments that would spare non-Chinese manufacturers. 2025-06-21 14:58:53 -
South Korean fuel prices rise for first time in six weeks amid Middle East tensions SEOUL, June 21 (AJP) - Gasoline and diesel prices at South Korean gas stations posted their first weekly increase in six weeks, reflecting rising international oil prices driven by Middle Eastern geopolitical risks. According to the Korea National Oil Corporation's price information system Opinet on Saturday, the national average gasoline price for the third week of June (June 15-19) rose 7.8 won per liter to 1,635.5 won ($4.54) compared to the previous week. Diesel prices similarly increased by 7.6 won per liter to an average of 1,498.2 won during the same period. Regional price variations showed Seoul posting the highest fuel costs at 1,709.4 won per liter, up 12.8 won from the previous week, while Daegu recorded the lowest prices at 1,598.8 won per liter, an increase of 8.6 won. Among major brands, SK Energy gas stations commanded the highest average price at 1,645.9 won per liter, while discount gas stations offered the lowest rates at 1,602.2 won per liter. The domestic fuel price increases followed a sharp rise in international oil markets as traders factored in heightened geopolitical risks from the Iran-Israel military confrontation. Dubai crude, the benchmark for imported oil prices in South Korea, jumped 6.6 dollars to 74.7 dollars per barrel compared to the previous week. International gasoline prices rose 5.6 dollars to 84.8 dollars per barrel, while international automotive diesel climbed 9.6 dollars to 93.7 dollars per barrel. A Korea Petroleum Association official noted that international oil prices surged after Israel conducted airstrikes against Iran on June 13, with the upward trend continuing since then. International oil price fluctuations typically take two to three weeks to be reflected in domestic gas station prices, and the industry expects further price pressures in coming weeks with rising prices anticipated to continue for the time being. 2025-06-21 10:39:27 -
Korean banks turn to AI to strengthen internal oversight SEOUL, June 20 (AJP) - South Korean banks are increasingly deploying artificial intelligence to bolster internal control systems, aiming to prevent financial misconduct and tighten compliance oversight by minimizing human error and bias, according to industry officials on Friday. The adoption spans a range of applications — from AI algorithms that flag suspicious transactions and detect mis-selling to chatbot systems designed to process whistleblower reports. Woori Financial Research Institute recently recommended integrating AI-powered chatbots into banks’ fraud prevention and early detection mechanisms, citing international examples including Kimberly-Clark in the United States and Canada’s Department of Justice, both of which have implemented similar tools to collect internal reports. “The psychological burden of reporting, distrust in outcomes, and low expectations around processing often discourage organizational members from filing compliance reports,” the institute noted in a report. AI chatbots, it suggested, could help address these issues by providing a neutral, efficient and anonymous reporting channel. Woori Bank introduced a confidential reporting platform, known as “Helpline,” earlier this year. The research institute’s report proposed fully automating this system in future iterations through AI technology, enabling more comprehensive data analysis and long-term risk assessment. Other major financial institutions are also integrating AI into their compliance and advisory workflows. KB Kookmin Bank has deployed AI-driven systems at branches to help prevent product mis-selling and flag suspicious activity, while Hana Bank is developing generative AI tools to manage internal policy documentation and translate regulatory texts for its overseas operations. NH Nonghyup Bank, meanwhile, has rolled out an AI-based credit inspection platform that analyzes past audit reports to automatically identify high-quality borrowers and closely monitor high-risk clients. 2025-06-20 16:10:47 -
Beauty brand Amuse opens second flagship store SEOUL, June 20 (AJP) - Vegan beauty brand Amuse unveiled its second flagship store on Friday in Seoul’s fashion-forward Seongsu-dong district, aiming to broaden its appeal among younger consumers and international fans with a digitally enhanced, immersive retail experience. The new storefront, dubbed the “Pink House,” occupies a brightly colored space on Yeonmujang-gil and marks an expansion of the brand’s offline footprint. It follows the launch of Amuse’s first flagship location in the upscale Hannam-dong neighborhood. Outfitted in vivid hues of pink, yellow, and mint, the Seongsu store is designed to embody Amuse’s core values of vegan beauty and wellness. The interior features interactive spaces for personalized consultations, exclusive in-store products, and the full lineup of the brand’s cosmetics. In a nod to the company’s digital savvy, the store also incorporates content featuring “Amuse Girl,” an AI-generated avatar that personifies the brand’s eco-conscious messaging. K-pop star and Amuse brand ambassador Jang Wonyoung attended the opening ceremony, drawing a sizable crowd of fans who lined the streets outside. The 20-year-old singer, formerly of the girl group IZ*ONE, has become the face of Amuse’s marketing campaign, which emphasizes clean beauty and self-expression. Amuse’s strategy leans heavily into the power of celebrity partnerships and social media virality to capture the attention of Gen Z consumers, both at home and abroad. The company said the Seongsu location is part of a broader effort to create more direct customer touchpoints outside of online platforms. The store opens to the public on Saturday following Friday’s launch event. 2025-06-20 15:58:25 -
Korean sunscreens — a local treasure for global visitors Editor's Note: This is the fifth article in our series exploring the evolving landscape of the Korean beauty industry and the products that captivate international visitors. SEOUL, June 18 (AJP) - As summer intensifies and international tourism to South Korea rebounds, one skincare essential consistently finds its way into visitors’ shopping baskets: Korean sunscreen. But while global demand for K-beauty SPF products has soared, the formulas that foreign consumers favor often diverge sharply from what Korean shoppers actually use on a daily basis. Rather than guard their local secrets, beauty insiders say understanding the domestic sunscreen market reveals the sophistication of Korean sun care — one that integrates seamlessly into full beauty routines, emphasizes reapplication, and reflects evolving skin-type preferences. Scientific consensus has long underscored the benefits of sunscreen: Harvard Medical School research finds that consistent use reduces the risk of skin cancer by more than 40 percent and helps prevent premature aging. Yet Korean consumers have cultivated a level of selectiveness and product layering that few outside the country fully grasp. When international fans seek out “must-have” Korean sunscreens, they’re often buying products that don’t reflect what Koreans themselves keep in their skincare arsenals. According to Olive Young, the nation’s dominant beauty retail chain, many local favorites remain relatively obscure overseas — part of what industry professionals describe as a growing “reverse export” phenomenon, where brands become famous abroad before gaining traction at home. Take AHC Master’s Aqua Rich Sunscreen, for example. A stalwart among older Korean users, the product is known for its rich, hydrating formula and premium finish. Though rarely spotlighted in TikTok routines or Amazon bestseller lists, it remains a household name domestically and enjoys high consumer loyalty among skincare-savvy users who prioritize texture and nourishment. On the other end of the spectrum is Round Lab Birch Juice Moisturizing Sunscreen, a versatile, skin-friendly formula that has earned a dominant position in the Korean market. The product has repeatedly topped Olive Young’s suncare category and ranks highly on Hwahae, Korea’s top beauty app. Meanwhile, products like Dalba Waterfull Tone-Up Sunscreen occupy the intersection of skincare and makeup, providing the now-iconic “dewy glass skin” effect while prepping the skin for foundation. The formula is praised for its moisture retention and ease of layering. “It spreads really well, keeps the skin moisturized, and doesn’t leave a white cast,” said Kang Gyu-bin, a Seoul-based office worker in her twenties. “It works beautifully under makeup.” However, not all iterations have received equal praise. While the original pink-toned version maintains cult status, newer color variants like the purple edition have drawn criticism for settling into fine lines and making pores more visible. Perhaps no brand better illustrates the gap between international fame and domestic anonymity than Beauty of Joseon. Its Relief Sun: Rice + Probiotics sunscreen reached the top of Amazon’s sunscreen rankings during Black Friday 2022 but remains relatively unknown in its home country. Another hallmark of Korean sunscreen culture is its segmentation by skin type. Espoir’s Water Splash Ceramide Sunscreen, for example, offers hydrating benefits but can be too rich for oily or combination skin. Experts recommend patch testing — typically on the neck — before committing to full application. This tailored approach reflects a broader industry philosophy: no one-size-fits-all solutions. Meanwhile, sun sticks have emerged as one of the most pragmatic solutions for South Korea’s on-the-go urbanites. Bring Green Tea Tree Cica Cooling Sun Stick provides a refreshing, mess-free way to reapply protection without disturbing makeup or staining clothes. Similarly, Round Lab’s Birch Juice Sun Stick mirrors its cream counterpart’s gentle formula in a more portable form. These innovations, far from being mere trends, speak to a deeper cultural orientation around skincare. In South Korea, sunscreen is not just a product — it is part of a layered, thoughtful regimen built around effectiveness, texture, and daily lifestyle. For tourists eager to experience the best of K-beauty, knowing what locals actually use may be the ultimate travel souvenir. 2025-06-20 10:10:48 -
Older DDR4 memory chips now outprice newer DDR5s SEOUL, June 19 (AJP) - In a rare twist in the global semiconductor market, older-generation DDR4 memory chips are now trading at higher prices than more advanced DDR5s, signaling a short-term disruption in traditional pricing dynamics. According to DRAMeXchange, a market research firm tracking semiconductor prices, 16-gigabit DDR4 chips traded at an average of $7.00 each on Tuesday, surpassing DDR5 chips of the same capacity, which averaged $5.90. The reversal — first observed on June 9 — stands in stark contrast to the pricing structure seen just months earlier, when DDR5 commanded premiums of 56.6 percent in December and 65.4 percent in March. This pricing anomaly is being driven largely by looming supply shortages. Major memory manufacturers including Samsung Electronics and SK hynix have informed customers of their intention to halt DDR4 production by the end of the year, shifting focus to DDR5. U.S.-based Micron Technology followed suit last week, and China’s ChangXin Memory Technologies, once expected to remain a holdout, is now accelerating its own transition to DDR5. Compounding the supply pressures are geopolitical concerns. With growing uncertainty over potential export tariffs on semiconductor products, some companies are stockpiling DDR4 chips, further tightening supply and driving prices higher. Over the past six months, the average price of DDR4 16Gb chips has surged 120.2 percent, compared with a 24.2 percent increase for DDR5 chips during the same period. DDR4, first introduced in 2014, is a mature technology gradually being phased out, while DDR5 — launched into mass production in 2020 — offers higher bandwidth and energy efficiency. Analysts say the current market inversion is unlikely to last. 2025-06-19 14:37:06