[[K-Tech]] Ground broken for South Korea's first renewable biofuel plant SEOUL, August 4 (AJP) - LG Chem has begun construction on South Korea’s first hydrotreated vegetable oil (HVO) production facility, marking a major step in the country’s push to expand its footprint in sustainable energy and materials. The plant, located in the coastal city of Seosan in South Chungcheong Province, is being developed by LG-Eni Biorefining, a joint venture between LG Chem and Italian energy company Eni. Completion is expected by 2027, the company said in a statement Monday. Once operational, the facility will have the capacity to produce approximately 300,000 tons of HVO annually. The renewable fuel — made by hydrogenating plant-based oils such as used cooking oil — is seen as a next-generation alternative to fossil fuels, offering significant reductions in greenhouse gas emissions while retaining high performance, especially in low temperatures. In addition to its use as a diesel substitute, HVO can be further refined into sustainable aviation fuel, biodiesel, and bio-naphtha. The latter is an increasingly valuable raw material in the petrochemical industry, particularly for producing ethylene, a core building block in plastics and other materials. LG Chem plans to integrate bio-naphtha into its existing product lines to expand its portfolio of environmentally certified goods. These include components for electronics, automotive parts, hygiene products, and sporting equipment — all of which are manufactured in compliance with international sustainability standards. “This facility will serve as a critical foundation for our transition toward low-carbon, high-efficiency materials,” said Shin Hak-cheol, CEO of LG Chem. “We will continue to drive technological innovation and commercialization in eco-friendly fuels and biomaterials to strengthen our global competitiveness.” The project builds on a strategic partnership announced in December 2024 between LG Chem and Enilive, a subsidiary of Eni. The Italian firm already operates HVO production sites in Italy with a combined annual capacity of 2 million tons and maintains extensive supply networks across Europe, Africa, and Asia. 2025-08-04 15:48:11

[[K-Bio]] Korean pharma firms post record earnings despite US trade uncertainty SEOUL, August 4 (AJP) - South Korea’s leading pharmaceutical companies reported their strongest second-quarter results on record, brushing aside investor concerns over potential U.S. trade restrictions under President Donald Trump. Biosimilar manufacturer Celltrion led the charge, posting revenue of 961.5 billion won, or approximately $692.4 million, for the April-to-June period — a 9.9 percent increase from the same quarter last year. The company’s operating profit soared 234.5 percent to 242.5 billion won, fueled by strong global demand for its high-margin biosimilar therapies, including its flagship subcutaneous treatment for autoimmune diseases, Remsima SC. Samsung Biologics also posted historic gains, breaching the 2 trillion won ($1.44 billion) sales mark for the first time over the first half of the year. The company reported second-quarter revenue of 1.289 trillion won, up 11.5 percent year-on-year, with operating profit rising 9.5 percent to 475.6 billion won. Executives attributed the gains to increased output at its state-of-the-art Plant 4 facility and a broader biosimilar pipeline developed by its subsidiary, Samsung Bioepis. The robust earnings come despite growing geopolitical headwinds. U.S. President Trump has repeatedly signaled an intent to impose tariffs on foreign biotechnology and pharmaceutical imports, including from South Korea, as part of his broader “America First” economic platform. While no formal measures have been enacted, the warnings have cast a shadow over the sector’s longer-term outlook. Still, for now, South Korean pharmaceutical firms are showing resilience. Yuhan Corporation, known for its lung cancer treatment pipeline, reported a 9.6 percent rise in revenue alongside a 168.9 percent leap in operating profits. GC Biopharma, formerly Green Cross, posted sales of 500.3 billion won — up 19.9 percent year-on-year — while Daewoong Pharmaceutical reported an 11.8 percent increase in revenue over the same period. “Despite the policy uncertainty coming from Washington, Korean biopharma continues to outperform thanks to its manufacturing efficiency, global partnerships, and increasing presence in high-value therapeutic areas,” said Kim Hyun-soo, a healthcare analyst at Shinhan Investment Corp. Industry observers say the sector’s performance underscores not only the growing maturity of South Korea’s biotech ecosystem but also its ability to adapt to shifting global regulatory and political environments. “South Korean pharmaceutical firms are no longer simply following global trends — they’re setting them,” said Park Eun-jung, director at the Korea Pharmaceutical and Bio-Pharma Manufacturers Association. “And that makes them increasingly difficult to ignore.” 2025-08-04 15:10:41

[[K-Drama]] Streaming platforms reshape Korean drama landscape SEOUL, August 4 (AJP) - As South Korean culture continues to captivate global audiences with breakout hits like Netflix’s animated "KPop Demon Hunters" and the thriller drama The Glory, a new academic study suggests that the country’s once romance-dominated television landscape is undergoing a profound transformation — one driven by the rise of streaming platforms and expanded cable programming. A study published July 30 in the Korean Journal of Broadcasting and Telecommunication Studies found that Korean dramas have experienced major shifts in genre composition during two pivotal moments: the early 2010s, marked by the launch of comprehensive programming channels, and the post-2016 boom of online video streaming platforms, or OTT services. While traditional television still leads in overall market share, its dominance is fading. According to data from PwC, a $295.8 billion gap between global TV broadcasting and OTT platforms in 2019 narrowed to $156.7 billion by 2024. The forecast suggests OTT will continue to gain ground, with the difference shrinking to just $100.1 billion by 2028. The consequences for Korean drama genres have been significant. Romance dramas, once the undisputed mainstay of the industry, have seen their share shrink dramatically — from 31.1 percent of all Korean dramas between 2005 and 2009 to 18.1 percent in the years spanning 2016 to 2023. In contrast, previously marginal genres — thriller, mystery, crime, period pieces, and fantasy — have surged. Each of these categories, which represented just 0.5 to 1.3 percent of the drama landscape before 2010, rose to account for between 3 and 6 percent after 2016. Thriller content in particular grew from 0.5 percent in the late 2000s to 5.6 percent in recent years, while fantasy genres expanded from 1.3 to 6.3 percent. “The proliferation of OTT platforms created an environment that reduced temporal and spatial constraints, thereby enhancing access to and consumption of diverse genres,” the study noted. It also emphasized that genre experimentation has spread across all broadcasting formats — not just cable or OTT, but also terrestrial networks. Major networks have embraced the trend. SBS broke genre boundaries with My Love from the Star in 2013, a fantasy romance featuring an alien protagonist, and later achieved success in the underrepresented sports drama genre with Hot Stove League in 2019. MBC ventured into darker thematic territory with the mystery thriller Black Out in 2023. Meanwhile, cable broadcasters have increasingly leveraged OTT platforms to amplify their reach. CJ ENM’s tvN saw global success with Queen of Tears, a Netflix-distributed original that drew millions of viewers worldwide. JTBC’s Heavenly Ever After, a fantasy romance, topped ratings among non-terrestrial programs at its peak. 2025-08-04 11:19:37

South Korea sees July export volume grow 5.9 percent on strong chip demand SEOUL, August 1 (AJP) - South Korea's exports rose 5.9 percent in July from a year earlier to $60.82 billion, marking the second consecutive month of growth despite concerns over impending U.S. tariffs, trade ministry data showed Friday. Semiconductors drove the export surge, posting a 31.6 percent year-on-year increase to $14.71 billion, recording the highest July performance ever, aided by strong demand for high-value memory chips such as high bandwidth memory chips and price recovery. The chip sector accounted for 24.2 percent of total exports, nearly a quarter of South Korea's overseas shipments during the month. Automotive exports also performed well, rising 8.8 percent despite reduced shipments to the United States due to the 25 percent tariffs, as increased sales to the European Union, Commonwealth of Independent States and Latin America offset the decline. Shipbuilding exports more than doubled with a 107.6 percent increase, driven by strong demand for liquefied natural gas carriers. The regional export landscape showed notable changes, with exports to the United States ranking third at $10.33 billion, tailing behind China at $11.05 billion and ASEAN countries at $10.91 billion. Some analysts suggest the July growth may reflect "front-loading" effects, as companies rushed to export key products before the August implementation of higher U.S. tariffs. Beyond semiconductors, automobiles, and ships, many sectors struggled, including secondary battery exports falling more than 20 percent due to declining mineral prices and overseas production shifts. Steel exports dropped 2.9 percent while auto parts fell 7.2 percent, both affected by higher U.S. tariffs on these products. From August, the United States will implement reciprocal tariffs ranging from 10 percent to 15 percent on major Korean products including semiconductors, still lower than the initially proposed 25 percent rates. "Despite very high external uncertainties surrounding our exports ahead of the U.S. tariff implementation on August 1, our companies made all-out efforts in export activities, continuing the positive export trend for two consecutive months since June," Minister of Trade, Industry and Energy Kim Jung-kwan said in a press release. 2025-08-01 16:06:54

South Korea to decide on Google's high-precision map export request next month SEOUL, August 1 (AJP) - South Korea will decide next month whether to approve Google's request to export high-precision maps overseas, with security concerns likely to weigh heavily on the government's final decision. Because South Korea remains technically in a state of ceasefire with North Korea, the country imposes strict regulations on domestic map service providers to conceal the exact locations of military bases and facilities. Many of these sites are either blurred, unsearchable, or altered to appear as ordinary terrains such as hills, forests, or rice paddies in satellite image-based services. The Ministry of Land, Infrastructure and Transport will convene a committee on September 11 comprising ministers from eight government agencies and the National Intelligence Service chief to review Google's application to transfer 1:5,000 scale domestic maps to its overseas data centers. Google submitted the request in February, marking its third attempt since 2007 and 2016 to obtain approval for exporting the detailed maps. The U.S. tech giant previously faced rejections due to national security concerns raised by Seoul. The timing coincides with recent South Korea-U.S. tariff negotiations, where Washington had criticized Seoul's digital regulations as one of the non-tariff barriers. However, the map export issue was notably absent from the final trade agreement reached between the two allies. "High-precision maps were among the earliest topics discussed, but as trade negotiations progressed rapidly, we defended that position," said policy chief Kim Yong-beom of the presidential office, during a presidential briefing following the tariff talks. "There will be no additional concessions on that front." Kim indicated the security-related matter would likely be addressed during upcoming summit talks between the two countries, separating it from trade discussions. Members of the Lee administration have expressed cautious positions on the map export request. Land Minister Kim Yun-duk said during his confirmation hearing that while trade considerations merit "forward-looking review," national defense and public safety take precedence. Culture Minister Chae Hwi-young similarly emphasized the need for "careful consideration of comprehensive impacts on national security and domestic industry." 2025-08-01 13:37:17

Reliance Industries bets big on deep-tech, reshapes India's digital future Editor's Note: This article is the 29th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, July 30 (AJP) - Reliance Industries, India's largest private-sector company, is navigating a complex energy and geopolitical landscape while accelerating its transformation into a deep-tech and advanced manufacturing leader. Once known primarily for its dominance in oil refining and petrochemicals, the Mumbai-based conglomerate is now positioning itself at the forefront of India's digital and industrial transition. The shift comes as new sanctions pressure the company's long-standing energy procurement strategy. On July 18, the European Union announced its 18th sanctions package against Russia, further reducing the price cap on Russian crude. Reliance, which had benefited from discounted Russian oil following the 2022 invasion of Ukraine, began adjusting course. That same week, the company made an unusual move by purchasing Murban crude from Abu Dhabi, signaling a strategic pivot away from its traditional reliance on Russian Urals. Reliance is also broadening its upstream footprint. On July 29, the company announced a joint operation agreement with Oil and Natural Gas Corporation and BP Exploration to explore hydrocarbon reserves in the Saurashtra basin in northwestern India. While oil remains a pillar of the business, Reliance's transformation has touched nearly every major sector of the Indian economy. The company's evolution from modest beginnings to industrial heavyweight traces back to 1957, when founder Dhirubhai H. Ambani began a yarn trading business in Mumbai with seed capital of around 300 dollars. In 1966, he formally established Reliance Commercial Corporation, focusing on importing polyester yarn and exporting spices. The company rebranded as Reliance Textiles Industries in 1973 and went public in 1977. From there, it systematically expanded across sectors, entering petrochemicals in 1980, oil refining in 2000, telecommunications in 2002, and retail in 2006. In 2010, it launched Reliance Foundation, which has since grown into India's largest non-profit organization. The pace of change quickened in 2016 with the launch of Reliance Jio, the company's telecom arm that reshaped India's data market. Starting in 2020, Reliance began forging partnerships with global tech firms to advance India's digital infrastructure. Today, the group operates across four core sectors: energy, retail, digital services, and media and entertainment. Reliance's financial performance has remained strong despite external headwinds. For the first quarter of 2025, the company reported consolidated revenue of 2,73,252 crore rupees, or 32.9 billion dollars, up 6 percent year-on-year. Net profit rose 78 percent to 26,994 crore rupees, or 3.3 billion dollars, largely driven by gains from the sale of its stake in Asian Paints. Reliance Jio posted 24 percent earnings growth, supported by an increase in average revenue per user to nearly 2.50 dollars. The retail division reported revenue of 84,171 crore rupees, or 10.1 billion dollars, up 11.3 percent. JioStar, its media venture, recorded revenue of 9,904 crore rupees, or 1.2 billion dollars, following a strong Indian Premier League season. Leadership remains firmly in the hands of the Ambani family. Chairman Mukesh D. Ambani, son of the company's founder, leads the group alongside his wife Nita Ambani, chair of Reliance Foundation. Their three children also play key roles. Akash Ambani chairs Reliance Jio Infocomm. Isha Ambani serves on executive boards. Anant Ambani leads the company's green energy initiatives. In a June 25 interview with McKinsey and Company, Mukesh Ambani spoke openly about the group's next chapter. "I used to push my leaders by saying, 'We have to be owners of technology. We must be innovators,'" he said. Regarding the ongoing AI competition, Asia's richest man emphasized that Reliance doesn't need to "go into the high-risk GPU game" but should focus on everything "downstream," attracting bright minds for digital transformation. As Reliance navigates sanctions-driven supply chain shifts while pursuing technological evolution, the conglomerate's ability to adapt and innovate positions it not just as India's industrial champion, but as a bellwether for how traditional energy giants can reinvent themselves in an era of digital disruption and geopolitical realignment. 2025-07-31 16:30:51

S.Korean agro-livestock industry takes breather as nation strikes trade deal with U.S. SEOUL, July 31 (AJP) - South Koreas agricultural and livestock sectors expressed relief on Thursday after the government said it had successfully defended the country's beef and rice markets during trade negotiations with the United States, despite facing intense pressure to open these sectors further. Kim Yong-beom, policy chief of the presidential office, told reporters that South Korea had faced "strong opening demands" from the U.S. regarding agricultural products but maintained its position on food security grounds. "There were even heated exchanges between both sides regarding beef age restrictions and rice imports, but we continued our defense and there were no additional concessions in this area," Kim said. South Korea has maintained a 30-month age limit on American beef imports since the 2008 bovine spongiform encephalopathy (BSE) crisis, commonly known as "mad cow disease." The restriction has remained a point of contention in bilateral trade relations for over a decade. American beef exporters have intensified lobbying efforts to persuade South Korea to lift the 16-year-old cattle age restriction, with the Office of the U.S. Trade Representative identifying the beef age limit as one of several non-tariff barriers affecting trade between the two countries. Local farmers had threatened collective action if the Korean government agreed to further liberalize the agricultural and livestock markets as bargaining chips in trade negotiations with the United States. According to sources familiar with the negotiations, Seoul initially considered making such concessions but ultimately decided to exclude these items, establishing them as non-negotiable boundaries. Instead, Korea considered expanding market access for feed crops, including corn and other biofuel feedstocks used in bioethanol production. The presidential office noted that appeals by the South Korean delegation to their U.S. counterparts may have contributed to the outcome. Korean negotiators emphasized to their American counterparts that South Korea was already a major importer of U.S. beef, with nearly 99.7 percent of its agricultural market open to American products. As for U.S. President Donald Trump's social media references to agricultural market opening statements saying, "they will accept American product including Cars and Trucks, Agriculture," Kim explained them to be "political expressions" and not reflected in ministerial-level negotiations. Despite Trump's previous remarks that were interpreted as attempts to link trade negotiations with security issues, defense cost-sharing arrangements were not included in the negotiation. Speculations say that specific defense burden-sharing matters may be discussed during a summit between President Lee Jae Myung and President Trump, which is expected to be arranged within two weeks through diplomatic channels. 2025-07-31 14:33:40

[[K-Tech]] LG CNS becomes first Korean firm to secure AI certifications from three major cloud providers SEOUL, July 31 (AJP) - LG CNS, the solution-developing wing of LG Group, said Thursday it has obtained Microsoft's "Build AI Apps on Microsoft Azure Specialization" certification, making it the first Korean company to hold generative artificial intelligence certifications from all three major global cloud service providers. The South Korean IT services company now holds AI specialist certifications from Microsoft, Amazon Web Services (AWS) and Google Cloud, the company said in a statement. The Microsoft certification requires partners to pass third-party audits on their technical capabilities in designing, building and operating applications based on its Azure platforms, while meeting standards for employee competency development. LG CNS and Microsoft have been collaborating on AI and cloud services, including jointly operating an "Innovation Journey Workshop" program for enterprise customers. The company previously became the first Korean firm to obtain AWS's "Generative AI Competency" certification and the first Asian company to receive Google Cloud's "Generative AI Service Specialization" certification. "Based on our globally recognized expertise, we will continue to provide differentiated customer value through AI services optimized for our corporate clients' businesses," said Kim Tae-hoon, senior vice president at LG CNS. 2025-07-31 13:41:08

South Korea strikes favorable tariff deal with US, presidential office says SEOUL, July 31 (AJP) - South Korea's presidential office said Thursday it secured a more favorable agreement than Japan in tariff negotiations with the United States, successfully limiting concessions while protecting key domestic markets. The announcement came after President Lee Jae-myung and US President Donald Trump revealed on social media that bilateral tariff talks had concluded with mutual 15 percent rates. The U.S. had initially planned to impose 25 percent reciprocal tariffs starting August 1, but these will be reduced to 15 percent under the new agreement. Kim Yong-beom, policy chief of the presidential office, said the deal included 15 percent tariffs on South Korean automobiles, though Seoul had argued for 12.5 percent until the final stages. The agreement establishes a $350 billion investment fund, with $150 billion dedicated to shipbuilding cooperation covering vessel construction, maintenance, and maritime equipment. An additional $200 billion fund will target semiconductors, nuclear power, secondary batteries, and biotechnology sectors where South Korean companies hold competitive advantages. Kim described the $200 billion as a "ceiling concept" with most funding expected to come through loans and guarantees rather than direct investment. The policy chief compared South Korea's deal favorably to Japan's earlier agreement, noting Korea's $350 billion commitment was smaller than Japan's $550 billion despite similar trade surplus levels. Excluding the shipbuilding fund led by Korean companies, South Korea's investment commitment represents just 36 percent of Japan's total, Kim noted. "We analyzed Japan's negotiations precisely and included far more safeguards in our agreement," Kim said. The agreement includes most-favored-nation treatment for future semiconductor and pharmaceutical tariffs, ensuring South Korea receives equal treatment with other countries. Kim added that South Korea successfully defended domestic rice and beef markets from additional opening requirements despite strong U.S. pressure, while topics such as defense cost-sharing, weapons purchases, and high-precision map data issues were not included in this agreement. Officials say specific dates for the Korea-U.S. summit promised by Trump within two weeks would be arranged through diplomatic channels. 2025-07-31 13:39:27

Health minister calls for tighter grip on e-cigarettes amid regulatory gaps SEOUL, July 31 (AJP) - Health Minister Jeong Eun-kyeong called for stricter oversight of liquid electronic cigarettes Thursday, arguing they should face the same regulatory framework as conventional tobacco products to close existing legal loopholes. Speaking to the National Assembly in written responses following her confirmation hearing, Jeong said synthetic nicotine-based liquid e-cigarettes pose health risks equivalent to traditional cigarettes and warrant identical regulatory treatment. "Synthetic nicotine liquid e-cigarettes are equally harmful to health as cigarettes and require the same regulations," Jeong said when asked about her stance on regulating the products. Under current tobacco business law, cigarettes are defined as products made entirely or partially from tobacco leaves, subjecting them to comprehensive oversight including manufacturing permits, health warnings, flavor restrictions and advertising limitations. However, most substances, also known as "e-liquids," "vape liquids," or "vape juices," contain nicotine that is extracted from the stem of tobacco plants or synthetically produced, and fall outside this legal definition, creating a regulatory blind spot that has allowed the products to operate with minimal restrictions. The minister pledged to support legislative efforts to expand the legal definition of tobacco from "tobacco leaves" to "tobacco and nicotine," bringing e-cigarettes under the same regulatory umbrella as conventional cigarettes. About 10 tobacco business law amendment bills are currently under review at the National Assembly's Strategy and Finance Committee, according to the health ministry. 2025-07-31 13:38:14