-
Middle East crisis deepens divide between South Korean industries
SEOUL, March 6 (AJP) - A triple whammy of high oil prices, a weakening Korean won and rising raw-material costs is casting darkening clouds across South Korean industries following U.S.‑led airstrikes on Iran, as markets and companies grapple with the fallout from the escalating Middle East conflict. Energy-intensive sectors are seeing production costs soar due to rising oil and petroleum prices, with traditional manufacturing sectors including petrochemicals and steel facing the
March 6, 2026
-
Hyundai, Kia face challenges amid EU's push for local EV production
SEOUL, March 6 (AJP) - Auto industry workers are closely monitoring developments as the European Union unveiled its Industrial Accelerator Act (IAA) earlier this week, a proposal aimed at boosting local manufacturing by imposing stricter requirements on global automakers. In a press release out on Wednesday, the European Commission said it has "adopted a legislative proposal to increase demand for low-carbon, European-made technologies and products," adding that IAA will
March 6, 2026
-
Korean makers bet on ultra high-nickel batteries to challenge China's supremacy
SEOUL, March 06 (AJP) - South Korea is positioning ultra high-nickel batteries as its trump card in the global battery war, betting that a widening technology gap with China and fresh regulatory tailwinds from Europe will reshape the competitive landscape for premium electric vehicles and humanoid robots. The push comes at a pivotal moment, with the European Union this week unveiling its Industrial Acceleration Act (IAA) — a policy framework that effectively erects a double-la
March 6, 2026
-
Exports feed black in Korea's C/A surplus for 33rd month in Jan, U.S. stock invest narrows
SEOUL, March 06 (AJP) - South Korea extended its current-account surplus streak to a 33rd consecutive month in January, though the black figure narrowed from the record level seen the previous month as investment in overseas securities cooled from the frenetic pace of late last year. The current account surplus reached $13.26 billion in January, narrowing from $18.7 billion in the previous month, according to the Bank of Korea (BOK) on Friday. The robust surplus was fed by expo
March 6, 2026
-
Samsung's Galaxy S26 Ultra wins 'Best in Show' at MWC 2026
SEOUL, March 05 (AJP) - Samsung Electronics' Galaxy S26 Ultra was awarded the 'Best in Show' title at the Mobile World Congress (MWC) 2026 in Barcelona, Spain, on Thursday. The award is part of the annual Global Mobile Awards hosted by the GSMA. It is widely regarded as a top honor at the exhibition, as the winner is selected by a specialized judging panel consisting of global analysts, journalists, and influencers. The accolade is given to the most innovative product
March 5, 2026
-
Korea hopes to win full fleet of Canadian submarines - industry minister
SEOUL, March 05 (AJP) -South Korea will push to win the full order of Canada’s next-generation submarine fleet rather than settle for a split contract with a European rival, Industry Minister Kim Jung-kwan said Thursday, as Ottawa is said to be weighting the option of dividing one of its largest-ever defense awards. Speaking to reporters at Incheon International Airport before departing for Canada, Kim said Seoul is working “with everything it has” to secure the e
March 5, 2026
-
Tesla leads South Korea's imported-car market
SEOUL, March 5 (AJP) - U.S. electric vehicle maker Tesla claimed the top spot in South Korea's imported-car market last month, boosted by brisk sales of its revamped Model Y, the Korea Automobile Importers & Distributors Association said on Thursday. Some 27,190 imported vehicles were newly registered last month, up 29.7 percent from 20,960 units the previous month and 34.6 percent higher than a year earlier. The cumulative number of registrations for the first two mont
March 5, 2026
-
SK chief to attend at Nvidia's annual AI conference in San Jose
SEOUL, March 5 (AJP) - SK Group chairman Chey Tae-won will attend Nvidia's annual GTC conference for the first time slated to be held in the U.S. later this month, according to industry officials. Chey is expected to meet Nvidia CEO Jensen Huang at the conference to be held from March 16 to 19 in San Jose, where industry leaders, developers, and researchers convene to discuss the latest technological trends. Chey is likely to discuss broader cooperation on AI infrastructure
March 5, 2026
-
Korean appliance makers price in potential Middle East setback
SEOUL, March 04 (AJP) - South Korean home appliance makers are bracing for potential disruption from the widening conflict in the Middle East and the choking-off of the critical shipping corridor, the Strait of Hormuz — just as the region had begun to emerge as a fresh growth market for Korean brands. The escalation has raised concerns among producers that renewed interest in Korean consumer brands across the region — fueled partly by the broader K-wave — could
March 4, 2026
-
Hyundai, Kia post all-time sales record in US
SEOUL, March 4 (AJP) - Hyundai Motor and its affiliate Kia set an all-time sales record in the U.S. last month thanks to strong demand for midsize-to-large SUVs and hybrid models. Their combined sales stood at 137,412 vehicles in February - 71,407 units for Hyundai and 66,005 for Kia - up about 5.7 percent and 4.3 percent, respectively, from a year earlier. Hyundai posted its best-ever sales for the month, extending a streak of monthly records for the third straight month since l
March 4, 2026
