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South Korea's HMM to create joint venture with UAE firm to re-enter LNG market
SEOUL, November 19 (AJP) - South Korea’s largest container carrier, HMM, is reentering the liquefied petroleum gas market after nearly a decade. The company said Friday it has partnered with B International Shipping & Logistics, a subsidiary of the United Arab Emirates–based BGN Group, to create a Singapore-based venture called HMMB INT Shipping Pte. Ltd. Each partner will hold a 50 percent stake. The new company plans to operate two very large gas carriers, e
November 19, 2025
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South Korea's Hanjin expands support for US veterans
SEOUL, November 19 (AJP) - South Korea's Hanjin Group marked Veterans Day this year by reaffirming its support for Semper Fi & America’s Fund, a nonprofit that assists wounded and ill service members and their families. The company said Wednesday it hosted a ceremony on Nov. 12 to pledge continued backing for the organization. The event drew Hanjin President Cho Hyun-min, Chief Executive Noh Sam-seok, senior leaders from the fund and a group of Vietnam War veter
November 19, 2025
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KAI to deepen defense collaboration with UAE's Edge Group
SEOUL, November 19 (AJP) - Korea Aerospace Industries said on Wednesday that it had signed an agreement with the United Arab Emirates’ Edge Group to explore joint marketing and development of weapons systems. The partnership will link KAI with Edge’s Platforms & Systems division, opening the door to cooperation across air, land and maritime platforms. Company officials said the arrangement is expected to strengthen KAI’s competitiveness in a region where de
November 19, 2025
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Seoul finally puts Lone Star saga behind after ICSID declares complete win
SEOUL, November 19 (AJP) -South Korea has finally put to rest its years-long investment dispute with U.S. private equity firm Lone Star, after the International Centre for Settlement of Investment Disputes (ICSID) overturned its earlier ruling that ordered Seoul to pay $216.5 million in compensation plus interest over the fund’s 2012 sale of a Korean bank. “The government's compensation liability — about 400 billion won at today’s exchange rate —
November 19, 2025
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Micron courts talents in its rivals' home turf as heat intensifies in memory sector
SEOUL, November 18 (AJP) - The three-way memory race in the high-stakes AI battlefield has spilled onto South Korean campuses, as the U.S. contender Micron Technology aggressively hunts for engineering talent on its rivals’ home turf amid intensifying competition in advanced chipmaking. Micron has been posting multiple Korea-based engineering roles on LinkedIn — including HBM system architecture, DRAM product engineering, and logic-integration positions — and wil
November 18, 2025
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Nvidia-related rout spills over to Asian markets, spoiling Baby Shark creator's KOSDAQ debut
SEOUL, November 18 (AJP) - The Wall Street tech rout — fueled by renewed concerns over Nvidia’s overvaluation — spilled into Asia on Tuesday, hammering semiconductor names and dragging down major regional indices. South Korea’s KOSPI plunged 3.32 percent to 3,953.62, losing the symbolically important 4,000 level. Sentiment soured after news that Thiel Macro — the hedge fund founded by Palantir Technologies chairman Peter Thiel — had fully liquid
November 18, 2025
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K-beauty set to be next collateral damage from localization fever in China
SEOUL, November 18 (AJP) - Korean beauty brands were virtually absent from this year's Singles' Day shopping festival — often dubbed China's version of Black Friday — marking a stark retreat from a market they once dominated and positioning K-beauty as the next collateral damage of China’s localization drive after smartphones and cars. The simultaneous withdrawal of Korean players underscores both the sophistication and rising confidence of Chinese ma
November 18, 2025
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IBK opens Silicon Valley center to support Korean startups
SEOUL, November 18 (AJP) - The Industrial Bank of Korea (IBK) said Tuesday it has opened a center in Palo Alto, Calif., to help South Korean startups establish a foothold overseas. The IBK Silicon Valley Center replaces a smaller office the bank launched in 2023 and marks its first full-scale overseas startup hub. The new facility includes space for investor presentations, meetings with local partners and networking events aimed at early-stage companies. IBK has operated a
November 18, 2025
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Team Korea lands in UAE to widen defense, energy, high-tech foray
SEOUL, November 18 (AJP) - Team Korea — led by South Korean President Lee Jae Myung and a delegation of top corporate chiefs — arrived Wednesday in the United Arab Emirates to pursue business opportunities in a Middle East rapidly pivoting toward digitalization, high-tech manufacturing, militarization and decarbonization powered by its oil wealth. The two-day UAE visit includes leaders from Korea's industrial backbone: Samsung Electronics Chairman Lee Jae-yong, Hyund
November 18, 2025
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Korean calorie-support product tops Japan's beauty platform for 24 weeks
SEOUL, November 18 (AJP) - South Korean food supplement company Foodology said Tuesday that its “Cutting Jelly” product has claimed the No. 1 spot in the “Calorie Support Supplement” category on @cosme, Japan’s largest beauty and personal care platform, for 24 consecutive weeks. @cosme, which draws roughly 20 million monthly visitors, updates its rankings based on user reviews and recommendations. Its reputation-based ratings system is widely regard
November 18, 2025
