Journalist
Candice Kim, Lim Jaeho
candicekim1121@ajupress.com, ajupresswogh@ajupress.com
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SK hynix tops Korea's corporate rankings, surpassing Samsung, Hyundai SEOUL, May 14 (AJP) - SK hynix has emerged as South Korea’s top-performing company, overtaking Samsung Electronics and Hyundai Motor in a prominent annual corporate management evaluation. The memory chip manufacturer claimed the No. 1 position for the first time in six years, earning 622.9 out of a possible 800 points in the latest assessment by CEO Score, a firm that tracks corporate performance. The results were released on Wednesday. Samsung Electronics held steady in second place for a second consecutive year, scoring 596.0 points. Samsung Biologics rose two spots to third with 590.0 points, while Kia remained in fourth place. Hyundai Motor, which topped the list last year, dropped to fifth. SK hynix’s rise was fueled by surging demand for high-bandwidth memory (HBM), which drove record profits in 2024. The company earned particularly high marks in the areas of growth, investment, and financial stability. Now in its ninth year, the CEO Score evaluation assesses South Korea’s top 500 non-financial companies across eight categories, including innovation, global competitiveness, and sustainable growth. Samsung Electronics led the investment category, spending 88.7 trillion won on facilities and research and development last year — more than four times SK hynix’s 21.6 trillion won. Samsung Biologics distinguished itself in the global competitiveness category, outperforming larger rivals in profitability. Although its sales accounted for just 4.1 percent of those of China’s Sinopharm, its operating profit margin was 26.2 percentage points higher. Other companies recognized for excellence across various categories included Kia, shipping firm HMM, game developer Krafton, confectionery company Orion, and renewable energy provider Hanwha Energy. 2025-05-14 11:04:55 -
SK Earthon expands resource development in Southeast Asia SEOUL, May 13 (AJP) - SK Earthon, the energy resource development unit of SK Innovation, is ramping up its presence in Southeast Asia, with Vietnam emerging as a focal point in the company’s ambition to become a global player in oil and gas exploration. The company is pursuing a “clustering strategy” in Vietnam, a country estimated to hold 4.4 billion barrels of oil and gas reserves. The approach echoes SK Earthon’s long-running operations in Peru, where it has built a substantial energy portfolio since the 1990s. SK Earthon entered Vietnam’s resource development sector in 1998 and has since built a foothold in the Cuu Long Basin, a region off the country’s southern coast known for its hydrocarbon potential. The company currently holds interests in one production block (Block 15-1), one under development (Block 15-1/05), and two exploration blocks (16-2 and 15-2/17). Block 15-1, SK Earthon’s flagship Vietnamese asset, is expected to produce an average of 3,300 barrels per day in 2025, based on the company’s equity share. It ranks as the second-largest producing block in Vietnam by cumulative output. Additional development in the basin is planned for later this year. “Based on stable production from Block 15-1, and as output from the other three blocks comes online, we expect Vietnam to serve as a reliable cash-generating business," said Roh Jung-yong, who oversees SK Earthon’s Southeast Asia operations. SK Earthon is also widening its footprint across the broader Southeast Asian region, with active projects in Indonesia and Malaysia — two of the area’s largest oil producers. In Malaysia, the company acquired operating rights in 2022 to Block SK427 off the coast of Sarawak and secured the adjacent Ketapu block last year, creating new development synergies across connected fields. In Indonesia, SK Earthon was awarded two new blocks in a government auction last year. The company is currently finalizing contractual details and is expected to make a formal announcement in the coming weeks. 2025-05-13 17:07:41 -
Samsung's AI-powered vacuum draws praise from global reviewers SEOUL, May 13 (AJP) - Samsung Electronics’ latest foray into the premium home appliance market — the Bespoke AI Jet 400W cordless vacuum cleaner — is garnering positive attention from international technology reviewers, many of whom have highlighted the device’s powerful suction, adaptive AI cleaning features, and versatile accessories. Positioned as Samsung’s flagship cordless vacuum model, the Bespoke AI Jet 400W aims to appeal to consumers seeking high-performance cleaning with smart home integration. The vacuum, introduced last month, received a 4.5 out of 5 rating from the U.K.-based review site Trusted Reviews, which described it as “close to an all-in-one vacuum.” The publication praised its ability to automatically adjust suction based on floor type and cleaning environment, noting its “best-in-class” performance for dust collection and corner cleaning among cordless models tested to date. Another U.K. outlet, T3, underscored five standout features: the HexaJet Motor’s high suction power, improved functionality via AI Mode 2.0, dual battery options offering up to 100 minutes of run time, a clean station that automatically empties the dustbin, and integration with Samsung’s SmartThings app for monitoring usage and cleaning history. In Germany, the testing organization CHIP ranked the product first out of 43 cordless vacuum cleaners, awarding it near-perfect scores in categories including suction performance, battery life, and accessory utility. The publication gave the device an overall rating of “Very Good.” The German tech site Connect also praised the vacuum’s adaptive suction settings, which optimize performance based on surface type to enhance efficiency and conserve battery life. Reviewers noted the usefulness of its real-time battery status display, which tracks remaining power minute-by-minute. The global tech site SamMobile described the unit as “Samsung’s best cordless vacuum,” citing its 400W suction power, lightweight design, and integration with Samsung’s SmartThings platform. It also pointed to the inclusion of AI Mode 2.0 and an all-in-one clean station as key differentiators. 2025-05-13 14:56:22 -
Samsung Display unveils next-generation screens at Display Week 2025 SEOUL, May 13 (AJP) - Samsung Display is showcasing a suite of advanced display technologies that reflect the company's growing ambitions in next-generation screen innovation at the annual Display Week 2025 exhibition. The event, which continues from Tuesday through Thursday, features several never-before-seen prototypes and refinements to existing display technologies. Display Week, organized by the Society for Information Display, remains a key showcase for cutting-edge visual technologies, drawing researchers, engineers and tech giants from around the world. Among the highlights is a significantly upgraded version of Samsung’s Electroluminescence Quantum Dot (EL-QD) display. The newest iteration reaches a peak brightness of 400 nits — a 50 percent increase from the 250-nit model introduced at last year’s show. Unlike current QD-OLED displays, which use photoluminescence — where light from an OLED source is filtered through quantum dots — the EL-QD emits light directly from red, green and blue quantum dots using electrical signals, eliminating the need for an OLED layer entirely. Samsung Display is also exhibiting its "Sensor OLED Display," which integrates organic photodiodes directly into the OLED panel. This allows for fingerprint recognition across the entire screen, rather than being confined to a designated area. The display can also measure biometric data such as heart rate, blood pressure, stress levels and even detect atrial fibrillation. The technology, featured earlier this year in the journal Nature Communications, is being demonstrated through an interactive “digital dalgona game” that responds to laser light rather than touch. The company is also debuting its highest-resolution OLEDoS (OLED on Silicon) panel to date — a 5,000 pixels-per-inch RGB display with a brightness of up to 15,000 nits. Despite its compact 1.4-inch size, similar to a smartwatch screen, the display boasts a refresh rate of 120Hz and covers up to 99 percent of the DCI-P3 color gamut, delivering greater pixel density than even 8K televisions. Samsung is also presenting a 4,200 PPI version with an even more dazzling peak brightness of 20,000 nits, an increase from previous iterations unveiled at SID 2024 and CES 2025. Visitors to Samsung’s booth can explore a range of forward-looking form factors. These include a microLED-based stretchable display, first unveiled last year, now shown creating a 3D topographic map with simultaneous protrusions. Concept devices include the “Flexible Briefcase,” an 18.1-inch foldable OLED panel that transforms into a bag-like form with a handle, and the “Polygon Foldable,” which features a trapezoid-shaped 3.38-inch OLED on the exterior of a flip-style phone. 2025-05-13 13:59:19 -
SK Telecom reports slight dip in profit, reaffirms customer data safeguards SEOUL, May 12 (AJP) - South Korea’s largest wireless carrier SK Telecom reported a marginal decline in net profit for the first quarter of 2025, as increased corporate taxes offset gains from its expanding artificial intelligence businesses. The company said Monday that net income for the three months ending in March fell 0.1 percent to 361.6 billion won ($258.3 million), compared with 361.9 billion won during the same period a year earlier. The decrease was attributed to higher tax expenses following the expiration of special depreciation provisions. Despite the dip in profit, operating income rose 13.8 percent to 567.4 billion won, buoyed by robust demand in the company’s artificial intelligence divisions — including AI data centers and enterprise-focused AI transformation services — as well as continued strength in its fixed-line segment. Revenue for the quarter edged down 0.5 percent to 4.45 trillion won, from 4.47 trillion won a year earlier. Separately, the company addressed ongoing fallout from a major data breach disclosed in April, which compromised universal subscriber identity module (USIM) data for its entire user base. SK Telecom, which serves roughly 25 million subscribers — about half of South Korea’s mobile market — has been under scrutiny as it works to rebuild customer trust. In response, the company has intensified its fraud detection efforts, raising its monitoring system to the highest alert level. It also began automatically enrolling eligible users in its USIM card protection program and is offering free USIM replacements. As of May 11, 1.47 million users had completed the replacement process. 2025-05-12 16:42:28 -
Lee Jae-myung wraps up rural tour ahead of campaign kickoff SEOUL, May 11 (AJP) - Lee Jae-myung, the presidential candidate of the main opposition Democratic Party, spent Sunday campaigning across South Jeolla Province, making a final appeal to voters in rural strongholds ahead of the official start of the election period. Lee toured the southwestern counties of Hwasun, Gangjin, Haenam and Yeongam, engaging with local residents as part of his last regional push before the campaign formally begins on Tuesday. The visits were part of a broader tour of small towns and provincial areas that are often overlooked during the frenetic pace of the official election period. Beginning earlier this month, Lee traveled through border areas of northern Gyeonggi and Gangwon provinces, continued along the so-called East Coast Belt through eastern Gangwon and northern North Gyeongsang, and visited towns across the Chungcheong region, North Jeolla, and the conservative stronghold of the Gyeongsang region. In Hwasun on Sunday, Lee vowed to confront what he described as “anti-historical and anti-democratic forces.” “We must build a country where the people are truly respected as sovereign,” he said, invoking the memory of Dec. 3, when martial law was declared by then-President Yoon Suk Yeol. “We won then, and we are still fighting and winning against rebellion today,” he added. “Let your overwhelming vote build an overwhelming future.” Lee remains the front-runner in the presidential race, according to recent polling. A Realmeter survey released on Sunday showed him leading in a three-way contest with 52.1 percent of the vote. Kim Moon-soo of the conservative People Power Party trailed with 31.1 percent, while Lee Jun-seok of the newly formed Reform Party garnered 6.3 percent. 2025-05-11 15:19:54 -
Han Duck-soo concedes in party vote, backs Kim Moon-soo for presidency SEOUL, May 11 (AJP) - Former Prime Minister Han Duck-soo on Sunday accepted the results of a party-wide vote that rejected a proposal to replace the People Power Party’s presidential nominee with himself, pledging to support the party’s official candidate, Kim Moon-soo. Speaking at a press conference at his campaign office in Yeouido, Han said he would “humbly accept” the outcome and return to private life. “I take seriously both the encouragement and criticism I have received before and after my decision to run for president,” Han said. “I accept the results with humility and will do my part to help Kim secure victory in the upcoming election.” Han added that he would “step away from all political roles and return to being an ordinary citizen,” taking full responsibility for the decisions he had made. The remarks came hours after the party’s interim leadership, led by Rep. Kwon Young-se, held a vote among its full membership to determine whether to replace Kim with Han as its presidential nominee. The proposal was rejected, reaffirming Kim’s candidacy. 2025-05-11 10:21:46 -
BYD's compact SUVs top imported EV sales, but why are they hardly seen on the streets? SEOUL, May 9 (AJP) - Chinese automaker BYD's Atto 3 has overtaken Tesla to become the best-selling model in the domestic imported electric vehicle market, according to data released by the Korea Automobile Importers and Distributors Association earlier this week. Some 543 units of the compact SUV were sold last month, narrowly surpassing the Tesla Model Y Long Range, which sold 533 units, followed by other Tesla models. Despite the feat, many motorists are baffled, as the vehicle is rarely seen on the roads. "Deliveries to consumers just started in mid-April, so it will take time for the figures to reflect and for the change to be felt," a BYD spokesman told AJP on Friday. He added that purchases made by individual customers outnumbered corporate purchases. Launched here in January, the Atto 3 quickly racked up over 1,000 pre-orders within a week, causing delays in delivery. Equipped with BYD's lithium iron phosphate (LFP) Blade Battery, the eco-friendly car can travel as far as 321 kilometers on a single charge. The base trim is priced at 31 million won, which can be purchased for under 30 million won after applying government and local subsidies. In contrast to industry observers who were initially skeptical about BYD's entry into a market known for South Koreans' penchant for ostentatious vehicles, its competitive prices might have enticed many consumers. BYD has been accelerating its promotional strategy to attract more customers here. The Chinese automaker set up a booth right next to the country's auto giant Hyundai Motor at last month's Seoul Mobility Show, actively targeting domestic consumers here. 2025-05-09 17:50:11 -
Korea to launch QR-based cross-border payment system, starting with Indonesia SEOUL, May 08 (AJP) - The Korea Financial Telecommunications and Clearings Institute (KFTC) will establish a digital hub for cross-border retail payments using QR codes, with a pilot launch slated for Indonesia by year’s end. Speaking at the annual meeting of the Asian Development Bank in Milan, KFTC President Park Jong-seok said the new system is designed to facilitate mobile-based transactions across borders, allowing consumers to make payments or withdraw local currency abroad using their smartphones. The platform, described as an open hub, will serve as a conduit connecting foreign payment institutions, Korean financial companies, and fintech providers. It is expected to support services such as QR code payments at overseas merchants and cardless ATM withdrawals — all without the need for physical credit or debit cards. The system will enable both outbound payments by Korean travelers and inbound transactions by foreign visitors to Korea. “We aim to provide financial companies and fintechs with infrastructure that reduces costs and simplifies service delivery,” Park said. The hub will bypass traditional international card networks, which often charge fees of around 1 percent per transaction. By routing payments through its own infrastructure, KFTC expects to significantly lower transaction costs. Indonesia is the first market targeted for rollout, followed by other members of the Asian Payment Network, a 12-nation consortium that includes Malaysia, Singapore, Vietnam, Japan, and the Philippines. Expansion into additional member countries is expected in subsequent phases. Park emphasized the system’s open-access model, noting that licensed payment providers — regardless of size — will be able to join. “This will help level the playing field and foster competition in cross-border financial services,” he said. “We believe it will strengthen both Korea’s global competitiveness and the fintech ecosystem.” 2025-05-08 17:07:56 -
KEPCO, KHNP head to international arbitration over UAE nuclear project SEOUL, May 08 (AJP) - Korea Hydro & Nuclear Power (KHNP) has filed for international arbitration against its parent company, Korea Electric Power Corporation (KEPCO), over a protracted dispute involving more than $1 billion in unsettled construction costs tied to South Korea’s landmark nuclear power project in the United Arab Emirates. According to the KHNP, it has brought the case to the London Court of International Arbitration, citing unresolved payments related to the Barakah nuclear power plant. The dispute stems from cost overruns during the decade-long construction of the facility, which marked South Korea’s first foray into exporting nuclear reactor technology. The Barakah project, valued at approximately 20 trillion won (roughly $15 billion), was initiated in 2009 after KEPCO signed a contract with the Emirates Nuclear Energy Corporation. KEPCO later subcontracted much of the work to KHNP and other domestic partners. But as costs ballooned — due in part to the COVID-19 pandemic and global supply chain disruptions linked to the war in Ukraine — KHNP began seeking reimbursement from KEPCO for the overruns. KHNP formally initiated negotiations in late 2023, though industry officials say the company had been raising concerns over the extra costs since at least 2020. The dispute escalated after Barakah Unit 4, the last of the four reactors, began commercial operations in September of last year. KEPCO, which is grappling with debt exceeding 200 trillion won (around $145 billion), has rejected KHNP’s claims, arguing that it cannot make any additional payments until it receives compensation from its Emirati counterpart. “Settlement cannot be made without receiving additional funds from the client,” the company said in a statement. KHNP has countered that failure to resolve the issue risks undermining trust and jeopardizing future cooperation between the firms. Despite a high-level meeting between the two companies’ presidents in January, the standoff deepened in February when KEPCO’s chief, Kim Dong-chul, told lawmakers he “cannot accept” KHNP’s demands. The clash has drawn attention to long-simmering structural tensions within South Korea’s power sector. Though KHNP is a wholly owned subsidiary of KEPCO, the two have increasingly jostled for leadership in nuclear exports, particularly since the 2001 restructuring that divided the country’s power industry into separate generation entities. Observers say the conflict highlights governance gaps and poor coordination within the state energy apparatus. Critics have also pointed fingers at the Ministry of Trade, Industry and Energy, accusing it of failing to step in as a mediator. “The ministry, which oversees public corporations, should have intervened earlier,” said one former senior official, who spoke on condition of anonymity. “This situation was allowed to fester because no one wanted to take responsibility during the government transition period.” 2025-05-08 14:14:10