Industry

  • Chipotle lands, In-N-Out pops up — Korea rises as test kitchen for Western tastes
    Chipotle lands, In-N-Out pops up — Korea rises as test kitchen for Western tastes SEOUL, October 17 (AJP) - South Korea is fast becoming the test kitchen for Western food giants eyeing Asia. Chipotle, one of America’s leading fast-casual chains, has chosen Seoul to gauge Asian palates for its Mexican flavors, while California-based In-N-Out Burger has returned with a second pop-up event — underscoring how Western brands increasingly view Korean “Zenners” as the first benchmark to crack the regional market. Chipotle last month partnered w October 17, 2025
  • Exchange, brokers warn as Koreas margin loans surge nearly 50%
    Exchange, brokers warn as Korea's margin loans surge nearly 50% SEOUL, October 17 (AJP) - Leveraged stock investment in South Korea has soared nearly 50 percent this year to surpass 23 trillion won ($16.4 billion), as the benchmark KOSPI’s 50-percent rally fueled aggressive borrowing for equity trades — prompting warnings from regulators and market participants. The balance of margin accounts at securities firms reached 23 trillion won, up 49 percent from 15.8 trillion won at the end of 2024, according to data released Friday by th October 17, 2025
  • Koreas job growth in September hits 19-Month high, manufacturing still tepid
    Korea's job growth in September hits 19-Month high, manufacturing still tepid SEOUL, October 17 (AJP) - South Korea saw the largest job addition in 19 months in September, driven mainly by service-sector hiring under government stimulus measures, while manufacturing and youth employment remained sluggish, data showed Friday. According to the Ministry of Data and Statistics, the number of employed people aged 15 and over reached 29.15 million in September, an increase of 312,000 from a year earlier. It was the largest on-year gain since February 2023, when emp October 17, 2025
  • South Koreas Hyosung Heavy opens research center in Netherlands
    South Korea's Hyosung Heavy opens research center in Netherlands SEOUL, October 17 (AJP) - South Korea's Hyosung Heavy Industries has opened its first European research and development center in Arnhem, the Netherlands, as part of efforts to strengthen its position in next-generation power technologies and eco-friendly energy solutions. The new facility marks the company’s first global R&D hub outside Asia and will focus on developing gas-insulated switchgear — a key component in power substations that traditionally relies October 17, 2025
  • Samsung Biologics officially sheds biosimilar unit to expand as pure CMO
    Samsung Biologics officially sheds biosimilar unit to expand as pure CMO SEOUL, October 17 (AJP) - Samsung Biologics Co., already the world's largest contract-based drugmaker by capacity, has won full shareholders' blessing to shed its biosimilar business and double down on its global biological outreach as a pure contract manufacturing organization (CMO). The Songdo, Korea-based pharmaceutical giant said on Friday 99.9 percent of voting shares backed the spin-off proposal at an extraordinary general meeting in Incheon, attended by about 93 perce October 17, 2025
  • Daewoong Pharma in talks with Saudi government to build bio, drug production ecosystem
    Daewoong Pharma in talks with Saudi government to build bio, drug production ecosystem SEOUL, October 17 (AJP) - South Korea's Daewoong Pharmaceutical said Friday it has begun discussions with the Saudi Arabian government on introducing innovative drugs and developing a biotechnology ecosystem that includes research, development, and manufacturing investments. The talks reflect Saudi Arabia’s growing ambition to localize pharmaceutical production and expand its bio-manufacturing capacity as part of its broader economic diversification strategy under Visi October 17, 2025
  • South Koreas HD Hyundai promotes heir Chung Ki-sun to chairman
    South Korea's HD Hyundai promotes heir Chung Ki-sun to chairman SEOUL, October 17 (AJP) - South Korean conglomerate HD Hyundai on Friday appointed Chung Ki-sun, the third-generation heir of the conglomerate’s founding family, as chairman, formalizing his rise to the top of the nation's largest shipbuilding group. The move marks a generational transition and a shift toward owner-led management as the company prepares for a major corporate merger. Chung, 42, was promoted from senior vice chairman, a role he assumed last year. His October 17, 2025
  • Asian shares mixed on profit-taking after chip rally, U.S. bad loan concerns
    Asian shares mixed on profit-taking after chip rally, U.S. bad loan concerns SEOUL, October 17 (AJP) - Asian markets opened mixed on Friday as investors weighed renewed credit market jitters in the U.S. and the region’s ongoing chip rally. In Seoul, the KOSPI slipped 0.53 percent to 3,728.50 as profit-taking set in after a bullish run to record highs. The secondary Kosdaq also traded lower. Samsung Electronics edged down 0.2 percent while SK hynix was flat, even as Taiwan’s TSMC reported stronger-than-expected quarterly profits. Automakers extend October 17, 2025
  • GMs plan to close service centers reignites rumors of exit from South Korea
    GM's plan to close service centers reignites rumors of exit from South Korea SEOUL, October 17 (AJP) - GM Korea’s plan to sell its directly operated service centers has ignited a labor dispute and stirred speculation about the automaker’s long-term commitment to South Korea. The company, a subsidiary of U.S.-based General Motors, said the decision stems from weak domestic sales and chronic financial losses. In May, GM Korea announced plans to sell nine service centers and idle land at its Bupyeong plant in Incheon — a move it has not re October 17, 2025
  • Samsung Biologics shareholders approve spin-off with overwhelming support
    Samsung Biologics shareholders approve spin-off with overwhelming support SEOUL, October 17 (AJP) - Samsung Biologics Co. said on Friday its shareholders voted overwhelmingly to approve a plan to spin off its investment division, with 99.9 percent backing the proposal at an extraordinary general meeting in Incheon. The approval paves the way for the creation of Samsung Epis Holdings, a pure holding company that will take over the parent's entire stake in biosimilar developer Samsung Bioepis, while Samsung Biologics will remain as the surviving entity October 17, 2025