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

Eco-friendly vehicles outpace gasoline cars in S. Korea for first time SEOUL, June 18 (AJP) - For the first time, sales of eco-friendly vehicles have overtaken those of internal combustion engine (ICE) cars in South Korea, signaling a pivotal shift in one of Asia’s most technologically advanced auto markets. According to data released by the Ministry of Trade, Industry and Energy, sales of electric, hydrogen fuel cell, and hybrid vehicles accounted for 52 percent of domestic auto sales in May. A total of 73,511 eco-friendly units were sold, out of 141,865 vehicles overall. The surge was driven largely by hybrid vehicles, which made up nearly 71 percent of all eco-friendly vehicle sales. Hybrid sales rose to 51,974 units — a 32.8 percent increase from a year earlier — reflecting growing consumer interest in fuel-efficient vehicles that do not rely on charging infrastructure. In contrast, sales of gasoline and diesel vehicles fell sharply. ICE vehicle sales dropped 22.7 percent year-on-year, to 68,354 units. Electric vehicles also saw a significant rebound. After a period of stagnant demand, EV sales jumped 60.3 percent in May compared to the same month last year, reaching 21,445 units. The ministry attributed the recovery to a wave of new model launches across price points, including affordable domestic offerings such as the Casper EV, Musso EV, and EV4. Among imported brands, Tesla performed strongly, capturing a 4.6 percent share of the overall market and ranking third in sales. South Korea’s auto industry also saw record-breaking growth in exports of eco-friendly vehicles, which climbed 10.2 percent year-on-year to 75,184 units. Hybrid vehicles led the export increase, with 54,118 units shipped overseas — a 22 percent rise over the same period in 2024. A ministry official cited broader consumer choice, thanks to model diversification across vehicle segments, as a key factor in the rising demand for electric and hybrid vehicles. South Korea's transition reflects a wider global movement away from fossil fuel-powered cars. China surpassed 50 percent eco-friendly market share in July 2024. Germany now reports 54 percent of annual vehicle sales from eco-friendly models, while Norway remains a global leader with approximately 90 percent. 2025-06-18 13:39:57

Samsung starts key meetings to chart course through geopolitical, trade turbulence SEOUL, June 17 (AJP) - Samsung Electronics on Tuesday convened its biannual global strategy meeting at its headquarters in Seoul, gathering top executives and international subsidiary heads to chart a path forward. The four-day meeting, held each June and December, provides a forum for the South Korean firm's leadership to assess challenges across markets and divisions, and coordinate marketing and production strategies for the months ahead. This week’s meetings are led by Jeon Young-hyun, head of the company’s Device Solutions (DS) division, and Roh Tae-moon, acting chief of the Device Experience (DX) division. This year’s gathering takes place under heightened pressure. The Trump administration’s protectionist trade policies — including new tariffs on steel-derived products — and ongoing military conflict involving Israel and Iran have complicated Samsung’s global operations. The opening session Tuesday spotlighted the Mobile Experience (MX) unit within the DX division, with executives reviewing launch plans and regional sales strategies for the Galaxy Z Flip 7 and Fold 7 smartphones, slated for release in July. Other consumer electronics units, including the Video Display and Digital Appliances divisions, are scheduled to hold sessions on Wednesday. The week will culminate in a full-company review of first-half performance and strategic planning for the remainder of the year. The semiconductor division, which will meet Wednesday, faces its own set of challenges. Samsung recently ceded its long-held lead in the global DRAM market to SK hynix, ending a dominance that began in 1992. Weak performance in high-bandwidth memory and foundry services has further pressured the business, prompting internal reviews of its product roadmap, organizational structure, and long-term competitiveness. Several of Samsung’s key affiliates — including Samsung Display, Samsung Electro-Mechanics, and Samsung SDI — will hold individual strategy meetings beginning Tuesday to outline their plans for the second half of the year. 2025-06-17 13:56:50

US tariffs on steel-based appliances rattle key industry players of South Korea SEOUL, June 16 (AJP) - South Korean manufacturers are facing mounting trade pressures as the United States escalates its protectionist policies under the Trump administration. In a fresh blow to exporters, the U.S. will impose new 50 percent tariffs on home appliances made from steel derivatives starting June 23, expanding a web of duties that now encompasses everything from industrial metals to consumer goods — and potentially, automobiles. Samsung Electronics and LG Electronics, two of South Korea’s largest home appliance producers, are scrambling to adjust. Efforts to pivot supply chains toward American steel have proved difficult, executives say, citing both logistical hurdles and cost concerns. The tariff expansion builds on measures first introduced in March, when the White House began steadily broadening levies on steel, aluminum, and related products. Industry officials warn that using U.S.-sourced materials to avoid the new penalties could erode profit margins and expose sensitive information. “Sharing steel and aluminum content data for tariff calculations raises significant trade secret concerns,” one official said. The impact is already visible in trade data. According to the Korea International Trade Association, exports of refrigerators to the United States plummeted 35.3 percent year-over-year in the first four months of 2025, falling to $415.8 million. Shipments of washing machines and similar appliances declined 17 percent to $175.8 million over the same period. The uncertainty has also spread to South Korea’s auto sector. On June 12, President Trump signaled that the existing 25 percent tariff on imported vehicles could be raised further. South Korean car exports to the U.S. fell 32 percent in May from a year earlier to $1.84 billion, according to the Ministry of Trade, Industry and Energy. Hyundai Motor Group saw its U.S. sales growth slow sharply to 6.7 percent in May from 16.3 percent in April. Currency fluctuations have added another layer of complexity. The won has strengthened in recent weeks, with the exchange rate falling from the 1,400 range in April to the 1,300s last month — undermining the price competitiveness of Korean exports. To mitigate the fallout, Hyundai is seeking to diversify beyond the U.S. market. The company sold 138,000 vehicles in China between January and April, an 11.8 percent increase over the same period in 2024. 2025-06-16 14:28:11

US steel tariffs likely to hit core of Samsung, LG's appliance exports SEOUL, June 13 (AJP) - Samsung Electronics and LG Electronics are bracing for financial and operational turbulence after the Trump administration announced it would impose 50 percent tariffs on steel-derived products used in home appliances. The U.S. Commerce Department published the sweeping list of affected goods in the Federal Register, with implementation set for June 23. The targeted products include refrigerators, washing machines, dryers, dishwashers, freezers, stoves, ranges, and ovens — cornerstones of both companies’ North American appliance businesses. While Samsung and LG both operate manufacturing plants in the United States, the majority of their appliances are produced in South Korea, Vietnam, and Mexico before being shipped to American consumers. The new tariffs, therefore, hit at the heart of their export-heavy operations. Company officials said they are conducting detailed impact assessments and reviewing a range of strategic responses, from price hikes to shifts in production geography. Steel is a critical component in large appliances, meaning the tariffs are likely to increase production costs significantly. LG, in its first-quarter earnings call, disclosed that it had already mapped out contingency plans, including cost-saving measures and potential consumer price increases. Samsung, for its part, signaled during its latest earnings call that it would ramp up its portfolio of premium appliances and explore redistributing production volumes across its global manufacturing bases to cushion the blow of the tariffs. Trump, who has championed tariffs as a tool to bring manufacturing back to American soil, pointed to Samsung’s investment intentions as a victory for his administration’s trade strategy. In April, he claimed the company would not have considered building large-scale U.S. facilities without tariff pressure. LG is moving to expand its domestic footprint, gradually shifting production of washers and dryers to its Tennessee plant, which currently accounts for about 20 percent of its U.S. appliance sales. CEO Cho Joo-wan has described U.S.-based production as a "last resort," noting that the company would first explore other levers — such as shifting manufacturing locations and adjusting pricing. Both companies are expected to continue leveraging their global "swing" production systems — networks that allow them to adapt rapidly to changing trade conditions. 2025-06-13 16:12:37