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Korean petrochemical players mull exit from ever-crowding money-losing market
SEOUL, October 14 (AJP) - South Korean petrochemical producers are opting to bow out of the China-dominant game as they struggle to stay afloat despite government-mandated streamlining and output controls. SKC and Kuwait's Petrochemical Industries Company (PIC) are reportedly seeking a buyer for their combined stake in joint venture SK picglobal, as market woes from Chinese oversupply and Middle Eastern competition have spilled over from basic petrochemicals to downstream produc
October 14, 2025
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Samsung Electronics to gift stock-tied compensation for employees
SEOUL, October 14 (AJP) - Samsung Electronics will grant company shares to employees tied to its stock performance over the next three years, the Korean tech giant announced Tuesday in an internal notice following record quarterly sales in the third quarter. The program, called Performance Stock Units (PSU), is designed to motivate employees by linking long-term compensation to the company’s future performance and share price growth. Unlike the company’s existing annua
October 14, 2025
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Samsung Elec's record-setting Q3 results signal strongest-yet chip boom
SEOUL, October 14 (AJP) - Despite lingering doubts over the durability and scope of the so-called AI-fueled chip supercycle, Samsung Electronics’ record-setting earnings guidance for the third quarter has set a new benchmark for the ongoing semiconductor boom. The South Korean tech giant on Tuesday projected an operating profit of 12.1 trillion won ($9.1 billion) for the July–September period, more than doubling from the previous quarter and marking the strongest quart
October 14, 2025
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KT, Palantir CEOs meet in Seoul to deepen AI partnership
SEOUL, October 14 (AJP) - South Korean telecom company KT said Tuesday its chief executive, Kim Young-seop, met with Alex Karp, the CEO of U.S. data analytics firm Palantir Technologies, in Seoul to discuss ways to expand the use of Palantir’s artificial intelligence platforms across South Korean industries. The meeting, held at KT’s headquarters in Gwanghwamun, centered on how to implement Palantir’s technology for local businesses in sectors ranging from fina
October 14, 2025
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China sanctions five Hanwha Ocean subsidiaries in US
SEOUL, October 14 (AJP) - The Chinese government said on Tuesday it had imposed sanctions on five U.S.-based subsidiaries of Hanwha Ocean, a South Korean shipbuilding company, in retaliation for a U.S. investigation into China’s maritime and shipbuilding industries. The Chinese Ministry of Commerce said the move was a direct response to Washington’s Section 301 investigation, which Beijing described as “a violation of international economic and trade rules&rdqu
October 14, 2025
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Top touring car drivers to compete in Inje of South Korea Oct. 18-19
SEOUL, October 14 (AJP) - Hyundai Motor will co-host the Inje World Touring Car Festival with Inje County in Gangwon Province this weekend, marking the first time South Korea will host the FIA TCR World Tour, one of the world’s premier touring car championships. The two-day event, set for Oct. 18–19 at the Inje Speedium, will combine three major races — the Hyundai N Festival, the FIA TCR World Tour, and TCR Asia — turning the circuit into a global stage
October 14, 2025
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South Korea's ThinkFree enters Europe's secure software market through partnership with French firm
SEOUL, October 14 (AJP) - ThinkFree, a software subsidiary of South Korea’s Hancom Group, said Tuesday that it has signed a supply agreement with Ercom, a cybersecurity subsidiary of France’s Thales Group, marking its entry into Europe’s data protection markets. Ercom specializes in secure communication and data protection technologies. Its flagship platform, Cryptobox, employs end-to-end encryption and is certified by the French National Cybersecurity Agency,
October 14, 2025
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South Korea's chip exports hit all-time high in September
SEOUL, October 14 (AJP) -South Korea’s semiconductor exports soared to a record high in September, propelling the country’s overall ICT exports to their strongest level ever. According to the Ministry of Science and ICT, ICT exports rose 14 percent on year to $25.43 billion, while imports climbed 10.4 percent to $13.78 billion, resulting in a trade surplus of $11.65 billion. Semiconductors accounted for the bulk of outbound shipments, totaling $16.62 billion, u
October 14, 2025
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KOSPI and TAIEX higher on chip rally, other markets mixed
SEOUL, October 14 (AJP) - South Korean shares stayed resilient on Tuesday morning despite renewed U.S.-China tensions led by chip winners, while most other Asian markets traded mixed. The benchmark Kospi held on to a gain of around 1 percent after hitting a new all-time high of 3,637.45, buoyed by Samsung Electronics' record-breaking third-quarter earnings guidance. The Kosdaq added 0.3 percent to 863.33. In Japan, the Nikkei 225 dropped 1.4 percent to 47,431.83 on concerns
October 14, 2025
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South Korean firm unveils first images from UAE-built radar satellite
SEOUL, October 14 (AJP) - South Korea’s Satrec Initiative on Tuesday released the first images captured by Etihad-SAT, a synthetic aperture radar satellite developed in partnership with the Mohammed Bin Rashid Space Centre (MBRSC) of the United Arab Emirates. The satellite, which operates on X-band electromagnetic waves, is capable of producing high-resolution images of Earth regardless of weather or lighting conditions — a key advantage of radar-based observation sy
October 14, 2025
