Industry

  • Samsung Fire & Marine launches English, Chinese support for insurance claims
    Samsung Fire & Marine launches English, Chinese support for insurance claims SEOUL, November 24 (AJP) - Samsung Fire & Marine Insurance has introduced new English and Chinese-language services to help foreign customers file insurance claims, the company said on Monday. The services are now available on the insurer’s mobile app and website. The company said an internal analysis showed that 58.3 percent of its foreign customers used the claims function most frequently, followed by premium payments at 14 percent and certificate issuance at 9.5 per November 24, 2025
  • S.Korean won drops to lowest level versus the U.S. dollar since 2009
    S.Korean won drops to lowest level versus the U.S. dollar since 2009 SEOUL, November 23 (AJP) - The South Korean won’s real value has slipped to its lowest point, risking the deterioration of Korea's purchasing power in global trade. Data from the Bank of Korea and the Bank for International Settlements showed that the country’s real effective exchange rate — or REER — stood at 89.09 at the end of October against the reference year of 2020 as 100. The index was down 1.44 points from a month earlier and marked t November 23, 2025
  • Coupang, latest breach in Korea, with no effective guardrail in sight
    Coupang, latest breach in Korea, with no effective guardrail in sight SEOUL, November 21 (AJP) - Coupang has emerged as the latest flashpoint in Korea's widening cybersecurity crisis, with customer data leaking yet again as major companies — from telecom operators to card issuers — continue to fall victim to preventable attacks under a regulatory system that seldom imposes meaningful penalties. Coupang said late Thursday that an "unauthorized third party" accessed the personal information of more than 4,500 customers. Accor November 21, 2025
  • Samsung Electronics names new DX, DS co-CEOs and brings in global science talent in sweeping leadership reshuffle
    Samsung Electronics names new DX, DS co-CEOs and brings in global science talent in sweeping leadership reshuffle SEOUL, November 21 (AJP) - Samsung Electronics unveiled a major leadership reshuffle on Friday, reinstating a two-CEO structure and appointing Harvard professor Hongkun Park and software veteran Janghyun Yoon to top technology roles as the company accelerates its transition toward next-generation semiconductor and AI innovation. TM Roh, head of the Mobile eXperience (MX) Business and acting chief of the Device eXperience (DX) Division, has been formally promoted to President & November 21, 2025
  • POSCO removes Pohang steel plant chief after safety accidents
    POSCO removes Pohang steel plant chief after safety accidents SEOUL, November 21 (AJP) - POSCO has removed the head of its Pohang steel mill after a series of safety incidents, including a toxic gas leak on Thursday that sent six workers to the hospital. The company said it will launch a special safety task force led by its newly established subsidiary, POSCO Safety Solutions. Industry sources said Friday that POSCO dismissed Pohang mill chief Lee Dong-ryeol after subcontracted workers and a POSCO employee were exposed to harmful gas du November 21, 2025
  • Asian stocks tumble across the board
    Asian stocks tumble across the board SEOUL, November 21 (AJP) - All major stock markets in Asia fell more than 2 percent on Friday, with South Korea's benchmark KOSPI plunging nearly 4 percent. In Seoul, the KOSPI fell 3.8 percent to close at 3,853.26, while the junior KOSDAQ slumped 3.1 percent to 863.95. In large-cap stocks, Samsung Electronics plunged 5.8 percent to 94,800 Koren won ($64), and SK hynix dropped 8.8 percent to 521,000 won. Among the top 10 market-cap companies, only Kia gained 0.5 percent, whil November 21, 2025
  • Deutsche Motors, BMWs South Korean distributor, under special tax probe
    Deutsche Motors, BMW's South Korean distributor, under 'special' tax probe SEOUL, November 21 (AJP) - South Korea’s National Tax Service has launched a tax probe into Deutsche Motors, the country’s official distributor of BMW vehicles. Industry sources said tax officials recently visited the company’s Seoul headquarters to secure documents and computer records as part of the inquiry. The investigation is being led by the Seoul Regional Tax Office and is classified as a "special" audit, according to the sources. Deutsch November 21, 2025
  • Mega malls emerge as Korean retailers answer to online challenges
    Mega malls emerge as Korean retailers' answer to online challenges SEOUL, November 21 (AJP) - South Korea’s retail giants, squeezed by the rapid proliferation of online shopping and a prolonged slump in domestic consumption, are betting on mega-sized mixed-use malls to regain foot traffic by drawing customers through leisure and tourism appeal. Gwangju has become the latest city to embrace the trend, breaking ground this week on a large-scale multi-complex mall that blends retail with entertainment. These mega malls combine shoppin November 21, 2025
  • Rising avian flu threat prompts expanded controls at Korean poultry farms
    Rising avian flu threat prompts expanded controls at Korean poultry farms SEOUL, November 21 (AJP) - South Korea is tightening biosecurity controls at poultry farms across the country as cases of highly pathogenic avian influenza continue to rise, fueled by a seasonal influx of migratory birds and the spread of multiple virus serotypes. The Central Accident Management Headquarters said Friday that six cases of highly pathogenic avian influenza have been confirmed at domestic poultry farms this year, along with 10 cases detected in wild birds. The f November 21, 2025
  • POSCO apologizes after toxic gas accident leaves workers critically ill
    POSCO apologizes after toxic gas accident leaves workers critically ill SEOUL, November 21 (AJP) - South Korean steelmaker POSCO issued a formal apology on Friday after three workers were hospitalized for inhaling toxic gas during a sludge-cleaning operation at its steel mill in the southeastern city of Pohang. The company vowed to strengthen safety protocols to prevent similar incidents. In a statement, POSCO President Lee Hee-geun expressed “deep regret” over the accident, which occurred on Thursday and involved both POSCO employees November 21, 2025