LocknLock sets up subsidiary in India SEOUL, August 25 (AJP) - LocknLock, the South Korean lifestyle products maker best known for its food storage containers and tumblers, said Monday it has established a subsidiary in India, part of its broader effort to deepen its reach in emerging markets. The Mumbai-based unit will focus on developing products tailored to Indian consumers, including a localized version of the company’s Metro tumbler line, which is marketed on its use of safe materials and minimalist design. LocknLock presented its product lineup at the HGH India trade show in Mumbai last month, the country’s largest home and lifestyle business-to-business exhibition. “India represents tremendous growth potential, driven by its large and youthful consumer base,” said Jeoung Jae-won, head of LocknLock India. Jeong added that the company would pair product innovation with expanded distribution through both online and offline channels to establish itself as a premium lifestyle brand in the market. Founded in 1978, LocknLock operates subsidiaries in seven countries, including China, Vietnam and the United States. The company said it intends to strengthen its presence in Europe and Latin America while broadening its product lineup in key existing markets. 2025-08-25 15:53:04

Hyundai Motor's Ioniq 9 defies slump in global EV sales SEOUL, August 25 (AJP) - Hyundai Motor’s latest electric sport utility vehicle, the Ioniq 9, has sold nearly 15,000 units worldwide in the six months since its debut, the company said Monday. The large SUV, a centerpiece of Hyundai Motor Group’s collaboration with battery maker SK On, recorded 14,391 sales across domestic and international markets through July, the company said. The vehicle was first released in South Korea in February. The performance stands out against the backdrop of what analysts have dubbed the “EV chasm,” a slowdown in consumer appetite that has forced many automakers to scale back production and delay investment plans. Hyundai sold 4,789 units in South Korea, 4,745 overseas, and 4,857 through its new Metaplant America factory in Georgia. Exports began in April, and by July, sales abroad had already surpassed domestic deliveries. The model has proved especially popular in the United States, where 2,086 vehicles were sold in just three months despite a broader downturn in EV sales. Hyundai splits production between its plant in Asan, south of Seoul, which builds export models, and its $7.6 billion Georgia complex, which supplies the American market. The localized output allows SK On, Hyundai’s battery partner, to take advantage of federal tax credits tied to the Trump administration’s clean energy laws. SK On operates two battery plants in Georgia and is building a third, a 35-gigawatt-hour joint venture facility with Hyundai. Analysts see the partnership as strategically significant: Hyundai gains a secure supply of batteries, while SK On deepens its foothold in the critical North American market. 2025-08-25 15:19:55

[[K-Tech]] LG CNS unveils enterprise AI platform, aiming to redefine workplace SEOUL, August 25 (AJP) - LG CNS on Monday introduced what it described as South Korea’s first full-scale platform for “agentic AI,” a new class of artificial intelligence designed to make decisions and carry out tasks without human oversight. At a press conference at LG Science Park in Seoul, the IT services arm of LG Group announced two flagship offerings: AgenticWorks, a modular platform for building enterprise-grade agentic AI services, and a:xink, a workplace productivity tool that integrates seven core business functions. Agentic AI, a term that industry experts increasingly use to describe autonomous assistants, goes beyond conventional chatbots or recommendation systems. The technology is intended to independently analyze information, take action across corporate systems and, in some cases, collaborate with other AI agents. LG CNS said AgenticWorks consists of six modules that allow businesses to design, deploy and manage agentic AI services across their entire life cycle. Its architecture lets companies adopt only the components they need, potentially lowering barriers to entry for non-technical staff. In practical terms, the company said, the system could track project budgets, flag risks, analyze competitor financial statements and generate business reports — all without human prompting. “This opens the door for employees outside IT departments to design their own AI workflows,” the company said in a statement. The a:xink service is an early demonstration of the platform’s potential. Using natural language commands, an employee might ask the system to draft a business trip approval based on meeting minutes and insert the request into a weekly report. Behind the scenes, the AI coordinates with document management and approval agents to execute the task. LG CNS said the service has already been deployed at LG Display, where it boosted daily productivity by about 10 percent and generated annual cost savings of more than 10 billion won, or roughly $7.4 million. The company expects productivity gains to surpass 30 percent within three years. “Agentic AI will fundamentally transform the competitive landscape by actively analyzing and coordinating entire work processes while supporting decision-making,” said Hyun Shin-gyoon, chief executive of LG CNS. “This allows employees to focus on creative tasks.” 2025-08-25 14:13:22

Argentine poultry imports banned after bird flu outbreak SEOUL, August 22 (AJP) - South Korea has suspended imports of poultry and related products from Argentina after the South American nation confirmed an outbreak of highly pathogenic avian influenza at a commercial farm. The Ministry of Agriculture, Food and Rural Affairs said Friday the ban took effect on Aug. 17, the day Argentina reported the case. Shipments that departed Argentina after Aug. 3 will undergo heightened screening. The ministry emphasized that the move is unlikely to disrupt the country’s poultry supply. Argentine imports accounted for only 0.2 percent of South Korea’s poultry consumption in 2024, according to government data. The outbreak, involving the H5 strain of the virus, was detected in dead egg-laying hens at a farm in Buenos Aires Province, according to Argentina’s national food safety agency. It is the country’s first case since South Korea reopened its market to Argentine poultry in December. The suspension comes as South Korea prepares to resume imports of frozen chicken from Brazil, whose poultry exports were barred after a bird flu outbreak earlier this year. No Argentine shipments are currently awaiting clearance at South Korean ports, the ministry said, noting that enhanced testing will apply to any cargo that falls within the affected period. “Preventing the domestic introduction of livestock diseases such as HPAI requires citizens to refrain from visiting livestock facilities during overseas travel and avoid bringing animal products into the country,” Jeong Hye-ryun, the ministry’s director-general for international cooperation, said in a statement. 2025-08-22 10:44:41

South Korea targets foreign speculators with ban on housing purchases SEOUL, August 21 (AJP) - South Korea will ban nonresident foreigners from purchasing homes in Seoul and other major metropolitan areas, the Ministry of Land, Infrastructure and Transport announced Thursday. Beginning Aug. 26, foreign individuals, corporations and governments must obtain prior approval before acquiring residential property in designated areas. Buyers granted approval will be required to move in within four months and maintain residency for at least two years. The restrictions will apply across all of Seoul, seven districts in Incheon and 23 municipalities in Gyeonggi Province, which together make up the greater Seoul metropolitan area. The measure will remain in effect through Aug. 25, 2026, though officials left open the possibility of extending it depending on housing market conditions. The restrictions were prompted by concerns that overseas buyers were fueling price pressures while taking advantage of looser financing opportunities. Domestic buyers have long faced strict mortgage regulations, while foreigners have been able to tap banks in their home countries for substantial loans — a disparity critics described as a form of “reverse discrimination.” All types of residential housing are covered by the ban, including apartments, single-family homes and multi-unit dwellings larger than six square meters. Commercial and office properties will remain exempt. Violators will be ordered to comply within three months or face fines of up to 10 percent of the property’s purchase price, with penalties applied repeatedly until compliance is achieved, the ministry said. While Gyeonggi Province introduced limited curbs on foreign purchases in select areas in 2020, this is the first time the central government has enacted such broad restrictions across the entire capital region. “This measure is designed to prevent speculation through overseas capital inflows, fundamentally blocking market-disrupting activities by foreigners and stabilizing housing prices to contribute to the housing welfare of our people,” Vice Minister Lee Sang-kyeong said. 2025-08-21 17:38:35

Consumer complaints surge against South Korean fashion platforms SEOUL, August 21 (AJP) - Consumer complaints against South Korea’s fast-growing online fashion platforms have soared more than 30 percent in the past year, the Korea Consumer Agency said Thursday. The agency said it had logged 1,650 complaints from 2022 through June this year against four of the country’s largest platforms — W Concept Korea, Musinsa, Ably Corporation and Kakao Style. The annual caseload nearly doubled in two years, jumping from 278 in 2022 to 443 in 2023 and then surging again to 592 last year. Complaints reached 337 in the first half of 2025 alone, up 30.6 percent from the same period a year earlier. Roughly four out of five disputes were filed by shoppers in their 20s and 30s, the core users of these apps. Women accounted for 83 percent of total complaints, compared with 17 percent from men. The most frequent disputes involved contract withdrawals — cases in which buyers sought to cancel purchases and obtain refunds — which made up nearly half of all complaints. Quality concerns, including defective or damaged products, accounted for 569 cases, while contract violations such as misleading terms numbered 127. 2025-08-21 16:48:32

Korean firms shift supply chains to Southeast Asia amid US-China tensions SEOUL, August 21 (AJP) - South Korean manufacturers are deepening their presence in Southeast Asia, building factories and export hubs in Malaysia, Indonesia and Vietnam as they seek to reduce dependence on China and navigate shifting global trade rules. The push reflects both rising geopolitical risks and the draw of lower labor costs in a region that has emerged as one of the world’s most attractive alternatives to Chinese manufacturing. Southeast Asian governments are competing for investment with tax breaks and expedited permits, while free trade agreements have lowered barriers within the bloc. Simmtech, a semiconductor substrate maker, operates a packaging plant in Penang, Malaysia, which has become a magnet for global chipmakers including Intel and Micron. Its subsidiary, Sustio, completed a $77 million expansion of the site earlier this year. In Indonesia, Hyundai Motor and LG Energy Solution are building the country’s first battery-cell plant in Karawang, near Jakarta, with a $1.1 billion investment. The facility, expected to start operations in 2025, will produce up to 10 gigawatt-hours annually, largely for electric vehicles in South Korea and India. Steel and chemical producers are also moving aggressively. POSCO has set up cold-rolled and hot-rolled steel plants in Vietnam, while Lotte Chemical bolstered its presence in Malaysia by acquiring Titan Chemicals. LS Electric, an energy equipment maker, opened a plant in Bac Ninh, Vietnam, to serve the region’s infrastructure boom. Part of the appeal is political. Unlike China, Southeast Asian nations are largely insulated from the escalating trade and technology confrontation between Washington and Beijing. Regional frameworks such as the Association of Southeast Asian Nations Free Trade Agreement and the Regional Comprehensive Economic Partnership have further cut tariffs on intra-Asian trade. Cost competitiveness remains a decisive factor. Vietnam’s factory workers earn an average of $320 a month, less than half the average in China. In Indonesia, labor costs are 30 to 50 percent lower than in South Korea across many industrial sectors, offering savings for labor-intensive production. 2025-08-21 14:24:57

South Korea turns to drone technology to guard against fires, bird strikes SEOUL, August 20 (AJP) - South Korea has selected two consortiums to develop specialized drones for firefighting and airport bird control, the Ministry of Land, Infrastructure and Transport said Wednesday. This came as the country moves to strengthen disaster-response capabilities following a series of deadly incidents. The ministry said it reviewed 22 proposals from 119 companies before awarding the projects. One consortium will focus on building heavy-duty drones to fight wildfires, while another will develop artificial intelligence–driven systems to detect and disperse birds near airports. The initiative comes after two stark reminders of the nation’s vulnerability: a plane crash last December that investigators suspect was caused by a bird strike, and massive wildfires in March that burned across wide swaths of the country. Angelux, which will lead the firefighting drone consortium, is set to receive 11.5 billion won, or about $8.2 million, over the next three years to develop aircraft capable of carrying 200 kilograms of fire suppressant. The drones, with a maximum takeoff weight of 450 kilograms, are designed to fly for up to three hours to battle blazes in areas deemed too dangerous for human firefighters. Angelux also plans to import larger foreign-made firefighting drones capable of handling 260-kilogram payloads. The second consortium, led by NH Networks, will receive 5 billion won through 2026 to develop bird deterrence technology. Its drones will patrol within four kilometers of airports, using AI to analyze flight patterns and deploying swarm units to scatter flocks that pose a threat to aircraft safety. Industry experts have long called for more advanced bird strike prevention measures, noting that major airports abroad already employ avian radars and laser systems. “This project will provide new firefighting response capabilities,” Joo Jong-wan, deputy minister of civil aviation, said in a statement. “The successful commercialization of heavy-duty fire drones will help meet growing domestic demand for specialized aircraft.” 2025-08-20 15:49:12

US push for equity in Intel raises alarm for Samsung Electronics, SK hynix SEOUL, August 20 (AJP) - The Trump administration is seeking an equity stake in Intel as part of its semiconductor subsidy package, a move that could reverberate across the global chip industry and unsettle South Korea’s Samsung Electronics and SK hynix, both of which are planning major U.S. investments with government support. White House spokeswoman Karoline Leavitt confirmed Tuesday (local time) that the administration is negotiating for roughly a 10 percent stake in Intel in exchange for a $10.9 billion grant to expand the company’s domestic manufacturing. “The president wants to put America’s needs first, both from a national security and economic perspective,” Leavitt said at a press briefing. Commerce Secretary Howard Lutnick described the plan as a straightforward swap: government funding for company shares. “We should get an equity stake for our money,” he said in an interview with CNBC. “We will deliver the money, which was already committed under the Biden administration. We will get equity in return for it.” The subsidies stem from the CHIPS Act, a 2022 bipartisan law that set aside $52.7 billion to bolster U.S. semiconductor production. But since taking office, Trump has pushed to toughen the program’s requirements, framing subsidies not only as industrial policy but also as leverage for extracting concessions from chipmakers. The policy shift could complicate the expansion strategies of Samsung and SK hynix, which have announced tens of billions of dollars in U.S. projects. Samsung is investing $37 billion through 2030 to build factories and research centers, while SK hynix plans a $3.87 billion artificial intelligence memory packaging facility in Indiana. Under the Biden administration, Samsung and SK hynix had been awarded subsidies of $4.75 billion and $458 million, respectively. But in June, Lutnick said several semiconductor awards were being renegotiated, casting doubt on those commitments. Washington has signaled similar intentions in other sectors. Earlier this year, the U.S. approved Nippon Steel’s acquisition of U.S. Steel only after securing a so-called golden share, giving the government veto power over decisions tied to national security. Analysts say equity stakes in foreign-owned projects could force Korean companies to align more closely with U.S. supply chains, potentially limiting their flexibility in global operations. Lutnick sought to play down those concerns. “It’s not governance,” he said. “We’re just converting what was a grant under Biden into equity for the American people. We have no intention of interfering in day-to-day operations.” 2025-08-20 14:48:04

Korean food exports to US shrink for first time in 26 months amid tariffs SEOUL, August 20 (AJP) - South Korea’s agricultural and food shipments to the United States declined in July for the first time in more than two years, as new American tariffs began weighing on demand. Exports fell 6.7 percent from a year earlier to $139 million, data from the Korea Trade Statistics Promotion Institute showed on Wednesday. It was the first monthly contraction since May 2023 and followed a stretch of rapid growth that had lifted first-half shipments by 27 percent. The downturn was led by staples of the Korean food boom in American supermarkets. Instant noodle exports dropped 17.8 percent to $14 million, after soaring more than 40 percent in the first half. Snack shipments tumbled 25.9 percent to $20 million, while sauces fell 7.2 percent to $7 million. Industry sources said the reversal partly reflected importers rushing to front-load orders ahead of a 15 percent blanket tariff imposed by the Trump administration. Samyang Foods, whose fiery Buldak noodles have become a best seller in the United States, said it had accelerated exports through June to build inventory before duties took effect. The slowdown also coincides with weakening U.S. consumer sentiment. More than half of Americans cite grocery bills as their biggest source of financial strain, according to a recent AP-NORC poll. Analysts say Korean food giants including CJ CheilJedang and Nongshim posted sluggish second-quarter results in the American market. Despite the setback, South Korea’s farm and food exports to the United States totaled $1.07 billion in the January–July period, up 21.3 percent from a year earlier, though the pace of growth has cooled since June. The deceleration poses risks for Seoul’s goal of reaching $14 billion in agricultural exports this year. The Ministry of Agriculture, Food and Rural Affairs is scheduled to hold its third export strategy meeting this week. Minister Song Mi-ryung is expected to discuss corporate concerns and consider additional support measures to sustain momentum. 2025-08-20 12:47:04