Industry

  • Samsung invests in US biotech firm specialized in early cancer detection
    Samsung invests in US biotech firm specialized in early cancer detection SEOUL, October 17 (AJP) - Samsung Electronics and Samsung C&T will jointly invest $110 million in Grail, a U.S. biotechnology company specializing in early cancer detection, as the South Korean conglomerate expands its footprint in digital health care, the firms said Friday. Grail, a subsidiary of Illumina, has developed technology that detects cancer-related DNA fragments in blood samples and uses artificial intelligence to predict both the presence and likely location of c October 17, 2025
  • Swedish royals tour SM Entertainment to explore K-pops global reach
    Swedish royals tour SM Entertainment to explore K-pop's global reach SEOUL, October 17 (AJP) - Sweden’s Crown Princess Victoria and Prince Daniel visited SM Entertainment on Thursday, highlighting the growing cultural ties between Sweden and South Korea and the global influence of the K-pop industry, the company said Friday. The royal couple’s visit to the Seoul-based entertainment powerhouse was part of their official trip to South Korea, which focuses on fostering exchange in the cultural and creative sectors. At SM Entertainme October 17, 2025
  • OPINION: Rising tide of hate, from Washington to Seoul
    OPINION: Rising tide of hate, from Washington to Seoul SEOUL, October 17 (AJP) - The legacy of Donald Trump’s presidency continues to cast a long shadow across the world. His overt flirtation with white nationalism and xenophobia helped normalize racial prejudice in American discourse — and its ripple effects have not stopped at the U.S. border. Across Europe and Asia, far-right movements have found renewed confidence, reshaping politics and stoking divisions once thought to have faded into history. In Europe, anti-immi October 17, 2025
  • Asian stocks upbeat, KOSPI leads the pack to new highs
    Asian stocks upbeat, KOSPI leads the pack to new highs SEOUL, October 16 (AJP) - Asian shares extended gains on Thursday as expectations for a U.S. rate cut outweighed concerns over renewed trade tensions between Washington and Beijing. Korea’s benchmark KOSPI jumped 2.49 percent to close at a record high of 3,748.37, driven by strong foreign and institutional buying. Nine of the top 10 blue chips advanced, led by an 8 percent surge in Hyundai Motor and a 7 percent rise in Kia Motors amid growing optimism for a breakthrough in October 16, 2025
  • Chinese shoppers turn increasingly budget in Korea, duty-free shops shift strategy
    Chinese shoppers turn increasingly budget in Korea, duty-free shops shift strategy SEOUL, October 16 (AJP) - Chinese tourists are returning to South Korea in full force under the one-year visa waiver for group travelers, but their spending behavior has changed dramatically. Rather than binge shopping at duty-free stores, visitors are now showing a preference for budget-friendly and value-driven purchases. The post-pandemic shift reflects growing familiarity among Chinese consumers with Korean brands and retail platforms. Instead of traditional package-tour splur October 16, 2025
  • Korean Economy/Business Calendar
    Korean Economy/Business Calendar SEOUL, October 16 (AJP) - Oct. 22, Wed Producer Price Index (Bank of Korea) Economically Active Population Survey (Ministry of Data and Statistics) Oct. 23, Thu Monetary Policy Meeting (Bank of Korea) Q3 Results/ Conference Call (Samsung Heavy Industries) Oct. 24, Fri Finance and Economy Minister’s business trip to the U.S. (- Oct. 27) Oct. 27, Mon October 16, 2025
  • K-food frenzy fails to lift all Korean food majors in Q3
    K-food frenzy fails to lift all Korean food majors in Q3 SEOUL, October 16 (AJP) - Korean food has enjoyed a global surge in popularity following prominent appearances in Netflix's K-Pop Demon Hunters, with Korean flavors sweeping into grocery aisles worldwide. Yet the third quarter tells a more sober story for overall Korean food majors battling U.S. tariffs and a weak won. Major producers including CJ CheilJedang and Lotte Wellfood are expected to post disappointing third-quarter earnings despite the sharp decline in global commodit October 16, 2025
  • Korean battery biz in US back to normal after damage control
    Korean battery biz in US back to normal after damage control SEOUL, October 16 (AJP) - Business operations in the United States are returning to normal for South Korean battery makers six weeks after the turmoil in Georgia that led to the arrest of Korean engineers and the temporary suspension of cross-border work. The recovery follows a bilateral agreement between Seoul and Washington that clarified visa rules for technical staff, removing the uncertainty that disrupted factory operations. LG Energy Solution said its employees resumed bus October 16, 2025
  • Seoul moves to tackle Beijings rare earth export controls
    Seoul moves to tackle Beijing's rare earth export controls SEOUL, October 16 (AJP) - Amid China’s tightening restrictions on rare earth exports, South Korea has launched a high-level task force to strengthen communication with Beijing and craft a comprehensive supply chain strategy by the end of the year, officials said Thursday. The move follows China’s Oct. 9 announcement of expanded export controls that require foreign companies to obtain government permits for seven types of rare earths — materials vital to advance October 16, 2025
  • South Koreas HMM orders $2.3 billion fleet of LNG-powered container ships
    South Korea's HMM orders $2.3 billion fleet of LNG-powered container ships SEOUL, October 16 (AJP) - HMM, South Korea’s largest shipping company, said Thursday that it will order 12 eco-friendly container ships from domestic shipbuilders in a deal worth 3.05 trillion won ($2.3 billion), marking its first major local order in seven years. The 13,000 twenty-foot equivalent unit (TEU) vessels will be built by HD Hyundai Heavy Industries and Hanwha Ocean, two of South Korea’s leading shipbuilders. Each ship will run on liquefied natural gas (L October 16, 2025