GM Korea to sell local facilities, reigniting withdrawal concerns SEOUL, May 29 (AJP) - General Motors plans to sell a number of its service centers and underused production facilities in South Korea in a bid to streamline operations, a move that has reignited concerns about the automaker’s long-term commitment to its Korean unit. This came just hours after GM’s U.S. headquarters unveiled a sweeping $888 million investment in its Tonawanda engine plant in Buffalo, N.Y., marking a renewed focus on internal combustion engine production in the United States — and underscoring a stark contrast in strategic priorities across the Pacific. GM Korea informed employees Wednesday that it would begin the sequential sale of nine company-operated service centers across the country. It also plans to dispose of idle assets and underutilized facilities at its sprawling Bupyeong plant, once a cornerstone of GM’s global manufacturing network. “The sale of these assets is intended to maximize the value of underused property and to rationalize loss-making service center operations,” said Hector Villarreal, president of GM’s Asia Pacific and Korea operations. “This is critical to ensuring the sustainability of our operations.” The Korean divestitures stand in sharp relief to the company’s expanding footprint in the U.S. GM’s latest investment will fund the production of its sixth-generation V-8 engines — destined for use in pickup trucks and SUVs — and is expected to create 870 jobs, including 177 roles that had been at risk due to the company’s prior shift toward electric vehicles, New York Governor Kathy Hochul said in a statement. GM had initially earmarked $300 million for EV-related production at the same Buffalo-area plant but has since abandoned those plans, signaling a broader pivot back toward gasoline-powered engines amid cooling demand for electric vehicles. Industry analysts say the asymmetry in GM’s global strategy mirrors the company’s track record of exiting less profitable markets. Over the past decade, GM has withdrawn from Australia, Indonesia, Thailand, India, and much of Europe, often shuttering factories or selling operations after profitability waned. In South Korea, the company closed its Gunsan plant in 2019, citing poor performance. More recently, GM sold its stake in Ultium Cells — a battery joint venture with LG Energy Solution — as electric vehicle demand softened. “GM Korea exports more than 90 percent of its output to the U.S., making it essentially a factory that exists for America,” said an industry official who spoke on condition of anonymity. “If U.S. tariff policies diminish its cost advantage, it wouldn’t be surprising if GM decided to withdraw sooner rather than later — despite public denials.” 2025-05-29 14:19:01

CJ's billion-dollar bet on culture, cuisine pays off Editor's Note: This article is the 20th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, May 28 (AJP) - Long before it became a champion of Korean cinema and cuisine, CJ Group began life amid the rubble of war as a modest sugar producer. Today, the company stands as a cultural and economic heavyweight, with its fingerprints on everything from Oscar-winning films to frozen dumplings found in American grocery stores. Founded in 1955 as Cheil Jedang — meaning “first sugar manufacture” — the firm was the first manufacturing subsidiary of Samsung, launched by the conglomerate’s founder, Lee Byung-chul. In its early days, CJ provided critical staples for a country struggling to rebuild after the Korean War, opening South Korea’s first flour mill and a sugar refinery in Busan. Over the ensuing decades, it expanded into artificial seasonings and livestock feed, laying the groundwork for what would become a sprawling empire. The company's transformation took shape in the 1990s, when Cheil Jedang split from Samsung. Under the stewardship of Lee Jay-hyun, a grandson of the Samsung founder, the company formally rebranded as CJ Group in 2002 and began an aggressive diversification campaign. What followed was the birth of a modern Korean conglomerate that would place culture at the center of its global ambitions. “CJ doesn’t just make food or film,” said a company spokesperson. “We aim to export the Korean lifestyle.” Indeed, CJ was instrumental in constructing South Korea’s entertainment infrastructure. It launched CGV, the country’s first multiplex cinema, in 1998, and soon after established a home shopping network. But its most significant move came through a strategic $300 million investment in DreamWorks in the late 1990s. That bet — engineered by Lee Jay-hyun’s sister, Miky Lee — gave the company a front-row seat to Hollywood and the insights needed to bring Korean content to a global stage. That experience culminated in a watershed moment: the global triumph of Parasite, which CJ distributed. The 2019 film, directed by Bong Joon-ho, became the first non-English language film to win the Academy Award for Best Picture — a symbol of Korea’s cultural ascent. Through CJ ENM, its entertainment and media arm, the conglomerate now drives much of the Korean Wave, or hallyu. Its Mnet Asian Music Awards — staged in cities like Macau, Singapore, and Hong Kong — claim over one billion global viewers, according to company data. At the same time, CJ CheilJedang, its food subsidiary, has orchestrated a parallel expansion of Korean cuisine. The company identified seven “Global Strategic Products” — mandu (dumplings), cooked rice, chicken, K-sauce, kimchi, dried seaweed, and gimbap rolls — as its culinary emissaries. Between 2017 and 2022, U.S. sales surged from 1.6 trillion won to 8.2 trillion won, with North America now accounting for roughly 80 percent of overseas revenue. CJ has also planted restaurant brands across major cities, including Bibigo, a fast-casual bibimbap concept, and the bakery chain Tous les Jours, which debuted in Los Angeles in 2004 and has since expanded to China and Vietnam. As of 2024, CJ Group reported annual revenue of 43.65 trillion won (approximately $32 billion), making it South Korea’s 13th-largest conglomerate. Its diversified revenue streams reflect the breadth of its business: CJ CheilJedang contributes 44 percent of group earnings, logistics unit CJ Korea Express 27.6 percent, entertainment via CJ ENM 10.4 percent, and health-and-beauty chain Olive Young 9.4 percent. The company’s biotech division, once a global leader in amino acid production for animal feed, is now up for sale — a 6 trillion won divestment that will refocus efforts on newer priorities. CJ’s future ambitions are captured in its “World Best CJ 2030” strategy — a plan to become a global leader in at least three business sectors. To this end, Lee Jay-hyun has pledged 20 trillion won in investments through 2025 across four key pillars: culture, platforms, wellness, and sustainability. That includes 4.3 trillion won allocated to intangible assets such as artificial intelligence and big data. CJ is positioning itself as a meritocratic outlier in a business culture often shaped by age and hierarchy. Lee has promoted a philosophy he calls hagojabi — advancement based on talent, not tenure. The result: roughly 75 percent of the company’s workforce is composed of Millennials and Gen Z, with employees born in the 1990s now making up more than a third of staff. From sugar to cinema, from soybean paste to social platforms, CJ Group’s evolution mirrors South Korea’s own: scrappy, ambitious, and global in outlook. 2025-05-29 09:53:23

Leferi's K-beauty pop-up blends influencer power with retail strategy SEOUL, May 27 (AJP) - As beauty creator LeoJ looked out over the sleek new pop-up store in Seoul’s fashionable Seongsu neighborhood, he explained his approach to choosing products that balance accessibility with impact. “I tend to choose popular picks that are easy for beginners to use but show dramatic and immediate effects,” said LeoJ, who has 1.41 million subscribers on YouTube and served as one of the co-curators for the store. “We’re targeting people who might find beauty intimidating, or who want to get better at it.” The store — Select Store – THE BEAUTY UNIVERSE — opened on May 22 and marks the largest retail venture to date for Leferi, a Seoul-based beauty retail and creator management company. The 300-square-meter pop-up, which runs through June 1, brings together the influence of three top beauty creators to showcase a curated selection of skincare and makeup products aimed at demystifying the sprawling K-beauty landscape. Founded in 2013, Leferi manages around 800 online creators and has trained over 1,500. Now, with this physical retail concept, the company is attempting to translate the digital trust built by influencers into real-world consumer decisions — at a time when the K-beauty market has become both a global force and an increasingly crowded field. Company chairman Choi In-seok sees creator-driven curation as a necessary filter for an oversaturated industry. “We have 6,000 brands exporting with 150,000 different products,” he said. “Consumers are increasingly asking, ‘What should I buy?’ It’s very similar to wine — when you enter a wine store, everything is written in French and you ask the staff.” With beauty creators as de facto sommeliers, Leferi has developed evaluation tools, certification marks, and printed guidebooks to help consumers navigate. “What we need is for someone to create standards and provide evaluation,” Choi said. “I think creators should do this.” The company’s ambitions extend well beyond Seoul. In October, Leferi plans to open a 500-square-meter flagship store in Tokyo’s Omotesando, across from @cosme Tokyo, Japan’s largest beauty retailer. “We’re targeting the most expensive spot in Japan,” Choi said, noting the space is typically reserved for high-end luxury brands. Leferi’s international strategy reflects South Korea’s growing dominance in beauty exports, which hit $10 billion last year. But success abroad, Choi argues, requires more than just volume. “If K-beauty can’t reach France, it will eventually peak and decline or continue competing in the mid-to-low price market,” he said, identifying Europe as the ultimate proving ground for Korean brands’ premium potential. Leferi operates on a membership-based model, charging participating brands fees that cover store operations, influencer marketing, and promotions. Roughly 30 to 40 percent of visitors to the Seoul store are international customers, with Chinese tourists making up about half of that group. 2025-05-27 16:27:49

South Korea probes Chinese solar inverters amid security concerns SEOUL, May 27 (AJP) - The South Korean government has launched a review of the nation’s solar inverter market as concerns mount globally over the security risks posed by Chinese-made energy equipment. The Ministry of Trade, Industry and Energy said Tuesday that it convened a meeting last week with major domestic solar companies — including Hanwha Q Cells, Hyundai Energy Solutions, and Hyosung Heavy Industries — to assess the state of the country’s solar inverter sector. Solar inverters, which convert direct current electricity from solar panels into alternating current for homes, factories, and the grid, are often referred to as the “brains” of solar systems. Their remote connectivity makes them both essential and potentially vulnerable to cybersecurity threats. Alarm bells have been ringing in the United States and Europe after investigators uncovered unlisted communication modules embedded in Chinese-manufactured inverters — raising fears that such devices could be exploited for espionage or sabotage. U.S. officials have warned that compromised inverters could be used to disrupt power grids or leak sensitive operational data. Those concerns are especially acute in South Korea, where Chinese brands dominate the market. Industry sources estimate that 90 to 95 percent of inverters deployed in the country originate from Chinese manufacturers. “There is growing unease about potential vulnerabilities in our power grid,” said one industry source who spoke on condition of anonymity due to the sensitivity of the matter. In Europe, similar fears have surfaced following recent large-scale blackouts in Spain and Portugal. Though investigations are ongoing, some cybersecurity experts have pointed to possible links between foreign-made inverters and the outages. In a related move, South Korea’s trade ministry announced it would, for the first time, incorporate cybersecurity and domestic supply chain considerations into the evaluation process for offshore wind power projects. Under the new criteria, companies will receive higher scores for using domestically produced components and technologies — a shift aimed at reducing reliance on foreign equipment while bolstering grid resilience. The revised assessment will also weigh the stability of energy generation and supply, placing greater emphasis on national security in the country’s energy transition. 2025-05-27 16:10:54

LG unveils eco-friendly 'Marine Glass' to restore ocean ecosystems SEOUL, May 27 (AJP) - LG Electronics announced Tuesday that it has developed a new functional glass material, dubbed “Marine Glass,” intended to foster the growth of marine organisms and aid in the restoration of ocean ecosystems. The firm has signed a partnership with the Blue Carbon Business Group at Seoul National University to launch pilot projects employing the innovative, water-soluble glass powder. According to LG, Marine Glass dissolves in seawater, gradually releasing mineral ions that act as nutrients for seaweed and microalgae — key players in blue carbon ecosystems. These ecosystems are considered highly effective in capturing and storing atmospheric carbon dioxide, offering potential climate mitigation benefits that exceed those of terrestrial environments. The company said it has spent more than six years developing the technology, which allows precise control over the rate and concentration of mineral dissolution. The material can be produced in various forms, including dense spherical beads engineered to remain in place in fast-moving currents, as well as flat chips designed to cultivate concentrated underwater forests. “Marine Glass is a milestone in demonstrating how advanced materials can serve environmental restoration,” said Paek Seung-tae, head of LG’s Kitchen Solution Business Division. “This agreement marks the first step toward validating the technology’s capabilities and exploring its diverse applications.” Beyond its ecological promise, the technology presents commercial opportunities. Marine microalgae, which could benefit from Marine Glass, are used in pharmaceuticals, dietary supplements, and biomass-based energy production. LG has filed more than 400 patents related to its glass powder technology and currently operates a facility with an annual production capacity of 4,500 tons at its Smart Park in Changwon, South Gyeongsang Province. The company has previously brought other functional materials to market, including an antibacterial product called PuroTec, launched in 2023 in countries such as Vietnam and India. 2025-05-27 15:28:42

Subscriber exodus accelerates at SK Telecom following security breach SEOUL, May 26 (AJP) - South Korea’s largest mobile carrier, SK Telecom, has raised device subsidies and sales incentives in an urgent attempt to stem a wave of customer defections triggered by a widespread security breach and logistical failures earlier this month. The telecom provider reportedly increased its official subsidies for Samsung’s Galaxy S25 smartphones to 680,000 won (about $510) and for Apple’s iPhone 16 Pro and Pro Max models to 650,000 won. With an additional 15 percent in optional support, total discounts rise to 782,000 won and 747,500 won, respectively. The company also significantly boosted dealer incentives for number portability — sales involving customers switching from rival carriers — raising payouts by more than 300,000 won for premium plans at selected retail outlets. Industry sources described the move as the first such adjustment since SK Telecom halted new customer sign-ups earlier this month. The changes follow a steep decline in SK Telecom’s subscriber base, with the company losing nearly 352,000 customers on a net basis over the past month. Typically, net daily customer losses hover around 100, making the recent exodus equivalent to nearly 10 years’ worth of normal churn, by some estimates. The subscriber losses began after SK Telecom suspended new registrations and number transfers at more than 2,600 T World franchise stores nationwide on May 5, citing a shortage of SIM cards required for onboarding new users. While device upgrades continued at other retail locations, the company has struggled to maintain standard promotional activities amid the ongoing supply chain issue. In a statement, a company spokesperson confirmed the changes, describing them as “minimal measures to respond to other mobile carriers’ subsidy increases and sales incentive policies.” The statement referenced competitor KT’s recent move to raise subsidies for the Galaxy S25 to 700,000 won just one day prior to SK Telecom’s decision. SK Telecom said it has so far completed SIM card replacements for approximately 4.17 million customers, while 4.82 million are still awaiting service — numbers that underscore the scope of the operational crisis. The rare disruption has put pressure on South Korea’s highly competitive telecommunications industry, where customer loyalty is often driven by aggressive promotional offers and seamless service. 2025-05-26 11:20:51

Conservative candidate Kim Moon-soo to meet former President Park Geun-hye SEOUL, May 24 (AJP) - People Power Party presidential nominee Kim Moon-soo will meet with former President Park Geun-hye at her Daegu residence on Saturday, party officials announced. The meeting occurs ten days before the June 3 presidential election to select a successor to impeached President Yoon Suk Yeol. Kim will be accompanied by Representative Yun Jae-ok, the campaign's chief manager, and party spokesperson Shin Dong-wook. This marks their first encounter since Kim won the party nomination earlier this month. The candidate also plans to visit Gumi, the birthplace of former President Park Chung-hee, Park Geun-hye's father. The election follows the Constitutional Court's April 4 ruling upholding Yoon's impeachment over his December martial law declaration. Kim secured the party nomination on May 3 with 56.5 percent of primary votes. 2025-05-24 17:30:15

KATSEYE's 'Gnarly' charts for third week on UK Official Singles chart SEOUL, May 24 (AJP) - Global girl group KATSEYE's track "Gnarly" has maintained its position on the UK Official Singles Top 100 chart for a third consecutive week, landing at number 90 for the week of May 23 to 29, according to chart data released Friday. The song first entered the UK chart at number 52 for the week of May 9 to 15 before securing its current three-week run. KATSEYE is a collaboration between South Korean entertainment company HYBE and American label Geffen Records. On Spotify, "Gnarly" reached number 42 on the Daily Top Songs Global chart as of May 22, up three positions from the previous day. The track held steady at number 46 on the Weekly Top Songs Global chart for May 16 to 22, accumulating 14.29 million streams during the week-long period. The song has also appeared on several Billboard charts, debuting at number 92 on the Hot 100 chart dated May 17. It subsequently ranked at number 46 on the Global 200 chart and number 31 on the Global Excluding US chart for the week dated May 24. KATSEYE is scheduled to release their second EP titled "BEAUTIFUL CHAOS" on June 27, 2025. The group's "Gnarly" incorporates hyperpop elements combined with dance and funk influences, and was included in Spotify's "Songs of Summer 2025" predictions list. 2025-05-24 14:42:20

Trump threatens 25 percent smartphone tariffs, 50 percent EU duties SEOUL, May 24 (AJP) - President Donald Trump on Saturday threatened to impose a 25 percent tariff on all smartphones manufactured overseas, including Apple iPhones and Samsung devices, while also warning the European Union of a 50 percent tariff on goods starting June 1. Speaking to reporters in the Oval Office, Trump expanded his initial threat against Apple to include all smartphone manufacturers selling devices in the United States that are not produced domestically. "It would be more. It would also be Samsung and anybody that makes that product, otherwise it wouldn't be fair," Trump said. He indicated the smartphone tariffs would begin "at the end of June." The president emphasized that companies could avoid tariffs by manufacturing in the United States. "When they build their plant here, there's no tariff," Trump told reporters. He claimed to have reached an understanding with Apple CEO Tim Cook that the company would not continue iPhone production overseas, though Apple declined to comment. Treasury Secretary Scott Bessent said the administration views overseas production, particularly in semiconductors, as a national security vulnerability. "I think that one of our greatest vulnerabilities is this external production, especially in semiconductors," Bessent told Fox News. "And a large part of Apple's components are in semiconductors. So we would like to have Apple help us make the semiconductor supply chain more secure." Trump also announced via Truth Social his intention to impose a 50 percent tariff on European Union goods, citing stalled trade negotiations. "Our discussions with them are going nowhere! Therefore, I am recommending a straight 50 percent Tariff on the European Union, starting on June 1, 2025," Trump wrote. When asked by reporters if he was seeking negotiations with the EU, Trump replied: "I'm not looking for a deal. We've set the deal – it's at 50 percent." 2025-05-24 11:04:36

With creator power, Leferi opens flagship K-beauty pop-up store SEOUL, May 23 (AJP) - Leferi, a global beauty retail company known for its management of online beauty creators, inaugurated its largest retail space to date on Thursday with the opening of “Select Store – THE BEAUTY UNIVERSE” in Seongsu-dong, Seoul. The store, spanning 300 square meters within the XYZ Seoul complex, marks a strategic expansion for the company. For the first time, Leferi is featuring a trio of top-tier beauty influencers — LeoJ (1.41 million subscribers), Soyoon (753,000), and Arang (483,000) — as co-curators. Described by the company as its most ambitious retail endeavor, the pop-up store will run through June 1. It draws on the popularity of past creator-led pop-ups, including installations with LeoJ in Seongsu and Minsco at The Hyundai Seoul in Yeouido. But this latest effort takes a more collective approach, branding the trio as a “Beauty Avengers” team. The space showcases 63 products from 29 beauty labels across skincare, makeup, hair care, and wellness. Items are grouped under three thematic categories: “Legacy” (established favorites), “Newness” (recent launches), and “Rediscovery” (revived selections). Featured brands include household names such as Laneige, AHC, Dewytree, and Goodal, as well as emerging players like Narca and Notts. Beyond retail, the initiative incorporates a series of interactive experiences, including meet-and-greets with creators and guided tours designed to enhance brand storytelling. The event has drawn a mix of industry professionals, including domestic and international distributors, investors, and global buyers, underscoring its broader commercial ambition. Founded in 2013, Leferi oversees a network of roughly 800 creators and has trained or produced more than 1,500 to date. As part of its international expansion, the company plans to open a 500-square-meter store in Tokyo’s Omotesando district this October, directly across from the influential Japanese beauty retailer @cosme Tokyo. The new location is expected to serve as a launchpad for Korean beauty brands entering the Japanese market. 2025-05-23 15:59:35