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South Korean government signals tighter oversight of nuclear exports
SEOUL, October 24 (AJP) - South Korea’s trade minister expressed concern on Friday over an escalating dispute between two state-run energy companies, saying the conflict underscored the need for clearer governance in the country’s nuclear export program. The conflict centers on a roughly $1 billion cost adjustment related to the Barakah nuclear power plant in the United Arab Emirates — South Korea’s first nuclear export project, which began operations in
October 24, 2025
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South Korea's Rainbow Robotics to make shipbuilding robots for Samsung Heavy
SEOUL, October 24 (AJP) - Samsung Heavy Industries said on Friday that it has partnered with Rainbow Robotics to develop artificial intelligence–powered welding robots, part of the shipbuilder’s broader push to automate production and build a “smart shipyard” for the future. Under the agreement, Samsung Heavy will provide operational data and testing environments for the robots, while Rainbow Robotics will handle hardware development and technical support
October 24, 2025
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Surge in Cambodian remittances via NH NongHyup Bank spurs crime concerns
SEOUL, October 24 (AJP) - Remittances to Cambodia through South Korea’s NH NongHyup Bank have soared in recent years, prompting concerns among lawmakers and regulators about potential links to voice phishing and organized crime. According to data released by Rep. Eo Gi-gu of the Democratic Party, the amount sent to Cambodia has nearly tripled since 2021. Annual remittances rose from 36.8 billion won ($25.7 million) in 2021 to 45.9 billion won in 2022, 94.2 billion won i
October 24, 2025
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South Korea's LS Buildwin wins high-voltage power project in Singapore
SEOUL, October 24 (AJP) - South Korea's LS Marine Solutions said on Friday that its subsidiary, LS Buildwin, has been awarded a contract worth about $60 million to build a high-voltage underground power network in Singapore. The project, undertaken in partnership with LS Cable, will involve the construction of a 230-kilovolt underground power network designed to strengthen Singapore’s national grid amid surging electricity demand from artificial intelligence and data c
October 24, 2025
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Samsung Heavy secures $244 million deal for three oil tankers
SEOUL, October 24 (AJP) - Samsung Heavy Industries said on Friday that it has secured an order worth 341.1 billion won, or about $244 million, to build three oil tankers for a Liberian shipowner. The order brings Samsung Heavy’s total contracts this year to $5.2 billion, about 78 percent of its $5.8 billion goal for the merchant ship sector. The company also aims to reach $4 billion in offshore projects, including work on the Coral and Delfin floating liquefied natural gas
October 24, 2025
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Anthropic of Claude AI chatbot to open office in Seoul next year
SEOUL, October 24 (AJP) - Anthropic, the U.S. artificial intelligence company behind the Claude chatbot, said it will open a Seoul office early next year. “South Korea is a leader in AI innovation in Asia, and Claude is already widely used here,” Anthropic’s chief executive, Dario Amodei, said in a statement. “We look forward to collaborating with partners in South Korea’s world-class tech ecosystem to realize AI’s potential.” Senior
October 24, 2025
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Asian shares rebound, lifted by optimism over Trump's APEC tour
SEOUL, October 24 (AJP) - Asian stocks rebounded Friday, buoyed by news that U.S. President Donald Trump will embark on his first Asia tour of his second term next week — a trip that includes back-to-back summit meetings with leaders of South Korea, Japan, and China during APEC week. Markets welcomed expectations that the visit could bring progress on pending trade and investment issues across the region. The benchmark KOSPI rose about 1.5 percent, reclaiming the 3,900-point
October 24, 2025
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AI to become staple in Korean homes, KES 2025 suggests with latest innovations
SEOUL, October 23 (AJP) - Artificial intelligence is fast becoming a fixture in Korean households — helping the elderly and pets at home alone, while taking charge of chores from washing clothes to preparing meals — according to the latest innovations unveiled at this year’s Korea Electronics Show (KES 2025). From refrigerators and TVs to air conditioners and cleaning robots, Korea's household appliance brands Samsung and LG Electronics demonstrated that AI h
October 23, 2025
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HOT STOCK: British fund bullish on LG Chem, local banks wary how far the stock can go
SEOUL, October 23 (AJP) - Shares of LG Chem set a new ceiling this week as the Korean chemical giant defied industrial headwinds after being spotlighted by a major foreign shareholder for excessive undervaluation. LG Chem closed Thursday at 389,500 won ($271), down after a 13 percent surge in the previous session. The rally followed a public statement by British activist fund Palliser Capital, which argued that “LG Chem’s stock is significantly undervalued, currently t
October 23, 2025
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Asian shares lose ground on tech selling
SEOUL, October 23 (AJP) - Asian stock markets ended lower Thursday as investors reacted to disappointing technology earnings and persistent geopolitical uncertainties, while Vietnamese equities stood out with gains on expectations of stronger domestic demand. South Korea’s main KOSPI and secondary KOSDAQ retreated after a record-setting rally. The KOSPI fell 1.2 percent to 3,835.79, and the tech-heavy KOSDAQ lost 0.9 percent to 870.90 as institutional investors took profits. C
October 23, 2025
