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 and highlights how Samsung’s Galaxy smartphone camera technology is being used in efforts to restore marine environments. Through a partnership with the University of California San Diego’s Scripps Institution of Oceanography and the U.S.-based nonprofit Seatrees, Samsung launched the Coral in Focus initiative last year to aid reef restoration in regions suffering from severe degradation. The restoration project focuses on vulnerable reef systems in Florida, Bali, and Fiji’s Viti Levu Island. In each location, local conservation groups are equipped with Galaxy S24 Ultra smartphones outfitted with a specialized “Ocean Mode” camera feature — developed exclusively for the project — to capture underwater imagery critical to monitoring coral health and restoration progress. Samsung Electronics' "Coral in Focus" documentary screening at the UN Ocean Conference/ Courtesy of Samsung Electronics 2025-06-13 14:33:48

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 Koreans. Founded in 2006 by Kim Beom-su, also known as Brian Kim, the company built its vast empire on the back of KakaoTalk, the free messaging service that launched in 2010 just as smartphones became ubiquitous in South Korea. Today, the app boasts a 93 percent penetration rate among the country’s 52 million people, with some 48 million monthly active users. The company’s rapid ascent mirrored the nation’s mobile revolution. Within six months of launch, KakaoTalk surpassed one million users; by 2015, it controlled more than 90 percent of South Korea’s messaging market. That dominance laid the groundwork for a strategy of aggressive expansion into new sectors — one that transformed Kakao from a chat app into a sprawling digital ecosystem. Kakao’s growth accelerated in 2014 with its merger with the web portal Daum, a deal valued at 1.06 trillion won (about $960 million at the time), bringing media and content into its fold. In the decade since, the company has ballooned in size, growing from 26 affiliated firms in 2014 to 124 as of 2024. According to the Fair Trade Commission, Kakao’s combined assets now total 86 trillion won. Its operations span financial services via KakaoPay and KakaoBank, transportation through Kakao T — which holds a commanding 90 percent share of the country’s ride-hailing market — entertainment via Kakao Entertainment, online gaming through Kakao Games, and music streaming through Melon. In the first quarter of 2025, the company reported revenue of 1.86 trillion won and an operating profit of 105.4 billion won, reflecting the strength of its diversified business model and the seamless integration of services across its ecosystem. But Kakao’s runaway growth has not been without controversy. The company has come under increasing scrutiny from regulators and the public over allegations of monopolistic behavior, particularly in sectors traditionally served by small and midsize businesses. Former President Yoon Suk Yeol in 2023 labeled Kakao’s ride-hailing operation “monopolistic,” a statement that signaled intensifying government pressure. The scrutiny deepened in 2024 when founder Kim was arrested and indicted on charges of stock market manipulation related to Kakao’s high-profile acquisition of SM Entertainment, a leading K-pop agency. In March, Kim stepped down from his operational roles, citing a diagnosis of bladder cancer and the ongoing legal proceedings. The company is now led by CEO Shina Chung, who has vowed to usher in a new era of “governance innovation” and corporate restructuring. Kakao is also grappling with internal tensions. In June, its labor union staged the first strike in company history, citing grievances over compensation and working conditions. The labor unrest stands in stark contrast to the company’s robust financials, and suggests deeper dissatisfaction within its ranks. Globally, Kakao has seen more modest success. Its international efforts have focused primarily on Asia, with its webtoon platform Piccoma gaining popularity in Japan, where it has maintained the top spot in the lucrative digital manga market. The company has also expanded content offerings in Taiwan and Southeast Asia, while KakaoPay now operates in about 50 countries across Asia, Europe, and the Americas. Kakao’s future ambitions are increasingly tied to artificial intelligence. In 2025, the company announced a strategic alliance with OpenAI, integrating ChatGPT into its services. Among its newest offerings is Kanana, a “hyper-personalized” AI companion service now in beta testing. During its recent earnings call, Kakao previewed upcoming AI integrations, including “AI Mate Shopping” and “AI Mate Local,” which will tie into its e-commerce and mapping platforms. While the company teased further collaborations with OpenAI, it said it was “too early" to discuss business models. Kakao now faces a delicate balancing act: maintaining its dominant position at home while pursuing growth abroad, all under the watchful eye of regulators and amid internal and legal upheaval. How it navigates this moment — particularly its transition beyond Kim’s leadership, resolution of labor disputes, and execution of its AI vision — may well determine whether it remains South Korea’s leading tech champion or becomes a cautionary tale of unchecked expansion.​​​​​​​ 2025-06-12 15:55:56

Samsung Electronics sees surge in AI appliance sales SEOUL, June 10 (AJP) - Samsung Electronics reported a sharp rise in sales of its flagship artificial intelligence-powered home appliances in the first five months of 2025. The company said sales of its AI-enhanced air conditioners, refrigerators, and washing machines grew significantly year-over-year between January and May, underscoring growing consumer appetite for connected, adaptive home devices. Sales of Samsung’s AI air conditioners — including both stand-alone and wall-mounted models — rose approximately 30 percent compared to the same period in 2024. In May alone, daily sales averaged 10,000 units, hitting that milestone a full month earlier than last year. The company’s Bespoke 4-door KitchenFit refrigerator also posted robust performance, with cumulative sales climbing about 40 percent year-over-year for the January-to-May period. Meanwhile, the Bespoke AI Combo washer-dryer, which integrates washing and drying in a single unit, recorded more than 10 percent sales growth over the same five-month span. For the first time since its launch, monthly sales of the model exceeded 10,000 units in May — a sign, Samsung said, of surging consumer interest in multifunctional, intelligent appliances. The 2025 AI lineup features upgrades that enable devices to learn from user behavior and adjust operations accordingly. The air conditioners are equipped with “AI Comfort,” which analyzes patterns of use, weather conditions, and humidity levels to automatically calibrate cooling modes. The system’s “AI Saving Mode” can reduce energy consumption by up to 30 percent, according to the company. To promote the new range, Samsung launched a high-profile “Troika Campaign” featuring celebrities Kim Yuna, Han Ga-in, and Jun Ji-hyun, all former brand ambassadors. A campaign video highlighting how the actors incorporate AI appliances into their daily lives has garnered more than 40 million views, a testament to strong public interest in AI-driven home technologies. 2025-06-10 16:51:33

Musinsa aims to be gateway for Korean fashion abroad SEOUL, June 10 (AJP) - South Korean fashion platform Musinsa on Tuesday unveiled an ambitious international expansion strategy, aiming to position itself as the leading conduit for domestic fashion brands seeking global markets. At a press briefing held at Dongdaemun Design Plaza in Seoul, CEO Park Jun-mo said the time is ripe for Korean fashion to capitalize on the global popularity of Korean culture. He noted that despite the international success of K-pop, television dramas, and beauty products, Korean fashion has yet to achieve comparable recognition. “Now is the moment for Korean fashion to make its mark globally,” Park said. “We intend to be the platform that bridges that gap.” Musinsa’s global store, launched in 2022, is now active in 13 countries and is expected to expand to 14 by the end of the year. The company reported an average annual growth rate of 260 percent in its overseas business, with over 2,000 brands listed and 3 million monthly active users as of April. The company’s Japan subsidiary, established in 2021, has been a standout performer. Musinsa said brand sales there grew 17-fold between 2021 and 2024, signaling robust regional demand for Korean fashion. Building on that momentum, Musinsa plans to open physical stores in Japan and China in late 2025 and early 2026, respectively. To accelerate its expansion, the company is forging partnerships with established regional players, including Zozo in Japan, Anta in China, Central Group in Thailand, and Sharaf Retail in the United Arab Emirates. “We want to work with the best partners in each region — those who understand their markets better than anyone,” Park said. To support Korean brands entering foreign markets, Musinsa will roll out a Fulfillment Service in August. The platform will offer end-to-end international logistics, including customs and last-mile delivery, allowing brands to sell globally with minimal friction. In key markets like Japan, the service will deploy inventory in advance, cutting shipping times from one week to as little as one to two days. “Brands should focus on what they do best — creating great products and stories — while we handle everything else,” Park said. Musinsa has set a target of reaching 3 trillion won (approximately $2.2 billion) in global transaction volume by 2030, underscoring its long-term commitment to becoming a central player in the international fashion landscape. 2025-06-10 14:39:55

President Lee to meet corporate leaders this week SEOUL, June 10 (AJP) - President Lee Jae-myung is set to hold his first meeting with the heads of largest conglomerates this week. The meetings are expected to take place Thursday or Friday at the presidential office in Yongsan, ahead of Lee’s departure for the Group of Seven summit in Canada, scheduled for June 15 to 17. The agenda is expected to focus on current economic challenges and the administration’s policy priorities. According to business people briefed on the plans, the president will sit down with leaders of South Korea’s five largest conglomerates — Samsung, SK, Hyundai Motor, LG and Lotte — as well as the heads of six major economic organizations, including the Korea Chamber of Commerce and Industry and the Korea Employers Federation. Among the expected attendees are Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo and Lotte Group Chairman Shin Dong-bin. President Lee, who campaigned on pro-growth economic policies, has made no secret of his intention to court the business community. “Companies are at the center of reviving the economy,” he said during his campaign, adding, “The era when the government leads economic and industrial issues has already passed.” Since taking office, Lee has moved quickly to set his economic agenda. His first administrative act was to launch an emergency economic review task force. He is also preparing for bilateral talks with U.S. President Donald Trump, expected on the sidelines of the G7 summit, with tariffs and trade relations on the table. The upcoming meeting with South Korea’s top corporate leaders signal Lee’s determination to align his administration closely with the private sector and to take a pragmatic approach to economic governance in a challenging global environment. 2025-06-10 14:34:01

Shinsegae scion to debut in K-pop group SEOUL, June 09 (AJP) - Moon Seo-yoon, the eldest daughter of Shinsegae International President Chung Yoo-kyung and a scion of one of South Korea’s most prominent retail dynasties, is set to debut as a K-pop idol later this month. Moon, 22, will perform under the stage name Annie as a member of ALLDAY PROJECT, a five-member co-ed group managed by The Black Label, a prominent music agency known for representing artists such as Taeyang of Big Bang and Rose of Blackpink. The group is scheduled to debut on June 23, the company announced via social media. The move marks a rare entry of a high-profile business heir into South Korea’s intensely competitive entertainment industry. Moon is the granddaughter of Lee Myung-hee, the chairwoman of Shinsegae Group, one of South Korea’s largest retail conglomerates, and the niece of Shinsegae Vice Chairman Chung Yong-jin. Her father, Moon Sung-wook, holds several executive posts within Shinsegae affiliates. ALLDAY PROJECT is The Black Label’s second group following the recent debut of the boy band MEOVV. Alongside Annie, the lineup includes members known by the stage names Tarzan, Bailey, Woochan, and Youngseo. The group’s music is being produced by Teddy, a former member of 1TYM and the producer behind numerous hits for Big Bang and Blackpink. Born in 2002, Moon is currently a student at Columbia University in New York and does not presently hold equity in Shinsegae Group. Prior to her entertainment debut, she had already cultivated a modest public profile as an influencer, with more than 70,000 followers on Instagram. Speculation about Moon’s potential debut had circulated for months, fueled in part by images posted online showing her training alongside aspiring idols affiliated with The Black Label. Some of those trainees would go on to debut in MEOVV, leading to rumors that Moon’s own debut plans had been postponed or shelved. 2025-06-09 17:12:26

Daiso's budget cosmetics find devoted following Editor's Note: This is the fourth article in our series exploring the evolving landscape of the Korean beauty industry and the products that captivate international visitors. SEOUL, June 09 (AJP) - In South Korea’s bustling beauty market, a surprising contender has quietly become a cultural force: Daiso, the ultra-low-cost retailer known more for household goods than cosmetics. The chain, beloved by locals and tourists alike, is defying expectations — and industry norms — by offering a range of beauty products that are not only accessible but, in some cases, rival pricier competitors. While Daiso may not carry the prestige of luxury beauty brands, its appeal lies in affordability and experimentation. “Daiso products may not have the brand power of famous companies, but the price allows you to try multiple items without feeling burdened,” said Jeong Kim, a customer in her twenties. “Not every product is a hit, but I often discover items that outperform name brands.” Among the store’s top sellers is the TAG Slim Brow Pencil, retailing for just 3,000 won (about $2.20) — a fraction of the cost of high-end alternatives like Shu Uemura’s Hard Formula Eyebrow Pencil, which sells for $29. Despite the price disparity, the Daiso pencil has earned praise for its smooth color payoff and ability to mimic individual brow hairs with precision. Still, the limited shade range excludes those with blonde or auburn tones. The TAG Mood Blush Beam in shade 02 Fair Move has developed a loyal following for its versatility as both a blush and highlighter. The soft pink hue and pearl shimmer are ideal for enhancing features such as the bridge of the nose, under-eye area, and brow bone — staples of contemporary Korean beauty aesthetics. However, the blush, like many Daiso products, is formulated with lighter skin tones in mind, making it most suitable for those matching shade 21 or lighter in Korean foundation scales. One of Daiso’s most sought-after complexion products, the IPKN Personal Tone Correcting Blur Pact in Lavender, has sold out multiple times. The finely milled powder, designed to counteract sallowness, helps brighten and set makeup without caking. Users apply it selectively for dimension or all over for a subtle lift in overall tone. Daiso’s appeal also extends to skincare. The Real Barrier Sera Base Moisturizing Cream Toner, popular among customers during Korea’s hot and humid summer months, strikes a balance between hydration and wearability — a challenge in a climate where heavy skincare routines can undermine makeup longevity. A richer, more expensive version, the Real Barrier Extreme Essence Toner, is available at Olive Young, but has been out of stock in recent weeks. For international visitors navigating Korea’s beauty scene, Daiso offers a low-risk introduction to K-beauty trends. The mix of budget-friendly pricing and surprisingly high quality has turned casual shoppers into loyal fans — and positioned Daiso as an unlikely player in the global beauty conversation. 2025-06-09 16:31:53

Samsung maintains lead in European microwave market for 10th straight year SEOUL, June 09 (AJP) - Samsung Electronics retained its position as the top-selling microwave brand in Europe for the 10th consecutive year in 2024, according to data from market research firm Euromonitor. The South Korean electronics maker captured a 12.8 percent share of the European market by sales volume, cementing its lead in a region it has dominated since 2015. The Euromonitor survey covered 19 European countries. Samsung attributed its continued success to a combination of proprietary technologies and consumer-oriented design. Its microwave ovens feature ceramic interior coatings certified as 99.9 percent antibacterial by Hohenstein, a German institute specializing in antimicrobial testing. The coatings were found to be 99.93 percent effective against Staphylococcus and 99.99 percent effective against pneumonia-causing bacteria following 18-hour lab tests. To appeal to design-conscious European consumers, the company launched a line of Bespoke microwaves available in seven colors and glass finishes designed to match contemporary kitchen interiors. It has also rolled out Wi-Fi-enabled models integrated with its SmartThings ecosystem, allowing users to control appliances via Bixby voice assistant and access cooking recommendations through its Samsung Food platform. As part of its broader sustainability efforts, Samsung collaborated with steelmaker Posco to develop enamel steel sheets with a higher proportion of recycled content. 2025-06-09 14:29:12

Korean economy shrinks in early 2025 SEOUL, June 05 (AJP) - South Korea’s economy contracted in the first quarter of 2025, ending two consecutive quarters of modest growth. This reflects ongoing weakness in domestic demand and construction investment, according to revised figures released Thursday by the Bank of Korea. Gross domestic product fell 0.2 percent from the previous quarter, matching preliminary estimates. The decline followed 0.1 percent expansions in both the third and fourth quarters of 2024. The central bank said the revised data incorporated updated information unavailable during the initial calculation. Some components were adjusted upward, including equipment investment, which was revised up by 1.7 percentage points, and exports, which increased by 0.5 percentage points. Imports were also revised upward by 0.9 percentage points. Despite the revisions, domestic demand remained a drag on growth. Construction investment alone subtracted 0.4 percentage points from GDP and has now declined for four consecutive quarters, underscoring persistent fragility in the sector. Private consumption also fell, shaving 0.1 percentage points off overall growth. In total, domestic demand reduced GDP by 0.5 percentage points for the quarter. Still, the broader income picture showed modest improvement. Real gross national income (GNI) rose 0.1 percent quarter-on-quarter, buoyed by increased earnings from overseas investments. Net factor income from abroad — the difference between income earned by South Koreans from foreign sources and that paid to foreign investors — rose sharply to 13 trillion won ($9.5 billion), up from 8.9 trillion won in the final quarter of 2024. It was the third consecutive quarter of GNI growth. For the full year 2024, per capita GNI reached $36,745, a 1.5 percent increase from the previous year and the third straight annual rise since 2022. The GDP deflator — a broad measure of inflation — rose 2.4 percent year-on-year in the first quarter, while the gross savings rate fell to 34.9 percent, down 0.4 percentage points from the previous quarter. The data suggest that while external income streams have helped cushion the economy, structural weaknesses in construction and tepid domestic consumption continue to weigh on South Korea’s post-pandemic recovery. 2025-06-05 15:39:15

Korea's ETF market surges past 200 trillion won milestone SEOUL, June 05 (AJP) - South Korea’s exchange-traded fund market surged past a major milestone this week, with total net assets reaching a record 201.28 trillion won (approximately $150 billion) on Thursday, according to data released by the Korea Exchange. This marks the first time the fast-growing sector has crossed the 200 trillion won threshold. The achievement underscores the ETF market’s rapid ascent in the country. Net assets have nearly doubled since June 2023, when the figure first topped 100 trillion won, and have more than tripled since May 2020, when assets stood at just 61.95 trillion won. Long favored for their low fees and ease of access, ETFs have cemented their status as a mainstream investment vehicle among South Korean retail investors. The number of listed ETF products reached 989 as of the end of May. The market’s expansion is striking, considering that Korea’s first ETF — the KODEX 200 — launched only 23 years ago. Domestic equity ETFs have been among the standout performers in 2024, buoyed by investor enthusiasm for local policy-driven themes amid a sluggish U.S. stock market. Sectors such as defense, aerospace, and conglomerates like Hanwha Group have drawn significant inflows. The top five performers through May were all focused on domestic themes. Leading the pack was the PLUS K-Defense ETF, which returned 116 percent from January through May. It was followed by TIGER K-Defense & Space (106 percent), PLUS Hanwha Group (99 percent), SOL K-Defense (86 percent), and PLUS Global Defense (62 percent). Retail investors have been central to the market’s expansion, with net purchases totaling 10.32 trillion won through May 29. Two fund managers dominate the space: Samsung Asset Management’s KODEX brand commands 38.81 percent of the market, while Mirae Asset Global Investments’ TIGER brand holds 33.41 percent — effectively creating a duopoly. The market’s growth has also sparked innovation, with a proliferation of products extending beyond traditional passive index funds. New offerings include actively managed ETFs, thematic funds tied to specific industries or government policies, monthly dividend ETFs, downside buffer ETFs, and strategies employing covered calls. Still, analysts caution that the rapid expansion carries risks. A flood of similarly themed products could oversaturate the market, while “zombie ETFs” — funds with low assets and trading volume — may undermine investor confidence if left unchecked. 2025-06-05 15:34:33