South Korea, Sweden sign clean energy cooperation pact SEOUL, January 19 (AJP) - South Korea’s Ministry of Climate, Energy and Environment signed a memorandum of understanding with Sweden on Monday to expand cooperation on the clean energy transition and power systems. The MOU was signed at the Westin Josun Seoul in central Seoul. Attendees included Lee Ho-hyun, the ministry’s second vice minister, and Maya Lundbäck, Sweden’s state secretary for energy at the Ministry of Climate and Enterprise. The minist January 19, 2026

South Korea fines 5 foreign financial firms for illegal short selling SEOUL, January 19 (AJP) - South Korean financial authorities have imposed a combined 3.97 billion won ($2.9 million) in administrative fines on six firms, including five foreign financial companies, for illegal short selling, officials said Monday. The Securities and Futures Commission under the Financial Services Commission decided on Oct. 15 to fine Shinhan Asset Management 370.6 million won for violating short-selling rules. Details of the decision were disclosed on the FSC w January 19, 2026

Celltrion's Zymfentra gains preferred drug status on major U.S. healthcare formulary SEOUL, January 19 (AJP) - Celltrion's Zymfentra, the world's only subcutaneous infliximab treatment, has secured preferred drug status on the formulary of Evernorth Health Services, a subsidiary of U.S. healthcare giant Cigna Group. The listing marks a significant milestone for the South Korean biopharmaceutical company as it seeks to accelerate sales of the autoimmune disease treatment in the world's largest pharmaceutical market. Cigna operates Express Scripts, one January 19, 2026

Hyundai Glovis installs SpaceX's Starlink to enhance vessel safety, connectivity SEOUL, January 19 (AJP) - Hyundai Glovis said Monday it has begun installing low-Earth-orbit satellite communications service Starlink across its fleet, aiming to accelerate digital transformation in shipping while enhancing vessel safety management. The logistics and shipping arm of Hyundai Motor Group is rolling out Starlink on 45 company-owned vessels, including car carriers and bulk carriers. Installation will be carried out sequentially, starting with ships calling at local p January 19, 2026

Samsung hires former Microsoft executive to bolster EU policy response SEOUL, January 19 (AJP) - Samsung Electronics has hired Jeremy Rollison, a U.S.-born European Union digital policy specialist who previously worked at Microsoft, as an executive director-level official, in a move widely seen as aimed at strengthening the company’s response to tightening EU digital regulation. Rollison, 46, has begun work with Samsung’s Europe external relations team in Brussels, the hub of EU policymaking. He spent more than a decade at Microsoft h January 19, 2026

Seoul, Beijing to hold follow-up FTA talks on services, investment this week SEOUL, January 19 (AJP) - South Korea and China will hold a new round of follow-up negotiations on services and investment under their bilateral free trade agreement from Monday through Friday in Beijing, South Korea’s Ministry of Trade, Industry and Energy said. The two governments agreed at a summit between their leaders in Beijing on Jan. 5 to work toward achieving meaningful progress in the negotiations within this year. The follow-up talks will focus on further mar January 19, 2026

Luxury hotels and retailers target 'rite rush' as S, Koreans outsource ancestral duties SEOUL, January 18 (AJP) - As the Lunar New Year holiday approaches next month, luxury hotels and major retailers in South Korea are aggressively targeting a niche but rapidly growing market: the "to-go" ancestral rite table. The hospitality industry is capitalizing on a significant cultural shift where families are increasingly willing to pay a premium to outsource the labor-intensive cooking required for the holiday, turning a domestic duty into an affordable service. T January 18, 2026

U.S. makes clear Taiwan chip tariff deal will not apply to South Korea SEOUL, January 17 (AJP) - Washington has made clear that semiconductor tariffs and related exemptions will be set through country‑by‑country negotiations, meaning the criteria agreed with Taiwan will not be copied and applied automatically to South Korea. An administration official said on Friday that the U.S. would pursue "separate agreements for separate countries" when asked whether the semiconductor tariff waiver terms offered to Taiwan would also be granted to South K January 17, 2026

U.S. TSMC deal signals more deal-making for Seoul and pledges from chipmakers SEOUL, January 16 (AJP) - In the tariff deal Seoul and Washington signed last October, South Korea was promised it would not be treated less favorably than Taiwan. But Taiwan’s newly secured tariff exemptions tied to expanded U.S. investment are now forcing Seoul and Korean chipmakers back to the negotiating table with fresh offers. Taiwan’s tariff outcome has been closely watched in Seoul, given the scale of its semiconductor trade with the United States. In last year& January 16, 2026

Korean memory makers share boom year with employees in cash and stock rewards SEOUL, January 16 (AJP) -South Korea’s two largest memory chipmakers, Samsung Electronics and SK hynix are rolling out handsome cash and stock rewards for their employees amid red-hot earnings and extended stock rally. Samsung Electronics said its Device Solutions (DS) division, which oversees the company’s semiconductor operations, has set its excess profit incentive (OPI) at 47 percent of annual salary, according to an internal notice circulated this week. The rat January 16, 2026