Industry

  • South Korean Air Force to work with science ministry to develop quantum-based weapons
    South Korean Air Force to work with science ministry to develop quantum-based weapons SEOUL, October 20 (AJP) - The Ministry of Science and ICT and the South Korean Air Force signed an agreement Monday to collaborate on developing next-generation weapon systems powered by quantum technology. The signing took place at the KINTEX convention center in Ilsan, northwest of Seoul. Quantum technologies — long touted for their potential to revolutionize both civilian and military systems — could enable GPS-independent navigation, stealth detection, and eve October 20, 2025
  • Asian shares broadly higher early Mon, led by Nikkeis rally to new highs
    Asian shares broadly higher early Mon, led by Nikkei's rally to new highs SEOUL, October 20 (AJP) - Asian markets opened higher across the board Monday, led by Japan, as political uncertainties eased following Sanae Takaichi’s likely premiership and sentiment in China improved after the central bank left its loan prime rates unchanged for October. Japan’s Nikkei 225 surged 2.6 percent in early trading to hit fresh record highs after reports of a political breakthrough in Tokyo — a coalition deal between the ruling Liberal Democratic October 20, 2025
  • South Koreas DAPA signs pact with Brazils Embraer to expand transport aircraft partnership
    South Korea's DAPA signs pact with Brazil's Embraer to expand transport aircraft partnership SEOUL, October 20 (AJP) - South Korea’s defense procurement agency has signed an agreement with Embraer, Brazil’s leading aerospace manufacturer, to deepen industrial ties and expand Korean participation in the company’s global supply chain. According to the Defense Acquisition Program Administration (DAPA) on Monday, the agency signed a memorandum of understanding with Embraer S.A. during the Seoul International Aerospace and Defense Exhibition (ADEX) 2025 in October 20, 2025
  • Taiwan to surpass South Korea in per capita GDP in 2025: IMF
    Taiwan to surpass South Korea in per capita GDP in 2025: IMF SEOUL, October 20 (AJP) - South Korea is set to lose its long-held economic edge over Taiwan this year, according to new projections from the International Monetary Fund. The IMF expects South Korea’s per capita gross domestic product to fall to 37th place globally, while Taiwan’s rises to 35th, marking the first time in 22 years that Taiwan will surpass its East Asian rival. In its World Economic Outlook released on Oct. 15, the IMF estimated South Korea’s October 20, 2025
  • Overdue credit card loans rising fast in South Korea
    Overdue credit card loans rising fast in South Korea SEOUL, October 20 (AJP) - South Koreans are falling behind on their credit card bills at a record pace, as higher interest rates and tighter bank lending drive more households to rely on card loans to make ends meet. According to data released by the office of Rep. Kang Min-kook of the main opposition People Power Party, citing the Financial Supervisory Service, credit card debt overdue for more than a month reached nearly 1.5 trillion won ($1.1 billion) as of the end of August October 20, 2025
  • OPINION: Chinas rise squeezing Koreas industrial heartlands
    OPINION: China's rise squeezing Korea's industrial heartlands Park Won-jae SEOUL, October 20 (AJP) - Yeosu, once the beating heart of South Korea’s petrochemical industry, is now a city under strain. The port, long fueled by the hum of factories and refineries, has fallen quiet as China’s self-sufficiency in ethylene production upends the regional industrial order. Roughly three years ago, Beijing achieved full domestic production of ethylene, the cornerstone of plastics and other chemical materials. The effects on Yeosu w October 20, 2025
  • South Korean business chiefs hold unprecedented golf summit with Trump
    South Korean business chiefs hold unprecedented golf summit with Trump SEOUL, October 19 (AJP) - South Korea's top business leaders held an unprecedented seven-hour meeting with U.S. President Donald Trump at his Florida golf club on Saturday, local time, as Seoul scrambles to address mounting concerns over tariffs and trade ahead of a crucial summit. Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo, and Hanwha Group Vice Chairman Kim Dong-kwan atte October 19, 2025
  • S.Korean industry minister vows support for firms after U.S. detention incident
    S.Korean industry minister vows support for firms after U.S. detention incident SEOUL, October 19 (AJP) - South Korea's industry minister pledged to protect the country's overseas investment interests and ensure citizen safety following a detention incident at an LG Energy Solution battery plant construction site in the United States. Kim Jung-kwan, Minister of Trade, Industry and Energy, visited LG Energy Solution's battery factory site in Georgia and Hyundai Motor Group's Metaplant America to assess construction progress and address industry c October 19, 2025
  • KOSPI survives broad Asian stock slide U.S. bank concerns
    KOSPI survives broad Asian stock slide U.S. bank concerns SEOUL, October 17 (AJP) - Major Asian stock markets fell across the board Friday amid renewed jitters over the financial health of U.S. regional banks. Korean shares, however, defied the trend, extending their rally to fresh record highs. The benchmark KOSPI finished nearly flat but managed to notch a new closing high of 3,748.8, supported by strong gains in battery stocks after data showed global electric vehicle sales hit an all-time high in September. EcoPro soared 27.04 per October 17, 2025
  • Chinese sanctions on Hanwha Ocean could affect MASGA project, Seoul official warns
    Chinese sanctions on Hanwha Ocean could affect MASGA project, Seoul official warns SEOUL, October 17 (AJP) - South Korea’s top defense procurement official warned on Friday that recent Chinese sanctions against Hanwha Ocean’s U.S. subsidiaries could eventually hinder a joint shipbuilding initiative between Seoul and Washington. During a parliamentary audit session, Suk Jong-geon, commissioner of the Defense Acquisition Program Administration, said the Chinese sanctions could affect the Make American Shipbuilding Great Again (MASGA) project, an effo October 17, 2025