Industry

  • KOSPI reaches new high after weeklong holiday
    KOSPI reaches new high after weeklong holiday SEOUL, October 10 (AJP) - The benchmark KOSPI surpassed the 3,600 level for the first time on Friday, following a sharp opening after a weeklong break for the country's biggest Chuseok holiday. KOSPI hit a record intraday high of 3,617.86 and closed at 3,610.60, up 61.39 points or 1.73 percent, from the previous session. The record rally was fueled by foreign investors, who snapped up a net 1.06 trillion won in shares. Among the top market-cap stocks, Samsung Electronics r October 10, 2025
  • Fines imposed on Apple, Google remain unpaid amid regulatory lapses
    Fines imposed on Apple, Google remain unpaid amid regulatory lapses SEOUL, October 10 (AJP) - Global tech companies such as Apple and Google have avoided fines totaling 63 billion won (about US$47 million) for nearly two years in South Korea, as authorities have failed to enforce the penalties. According to data submitted to lawmaker Choi Soo-jin of the main opposition People Power Party from the Korea Communications Commission (KCC), the watchdog slapped fines on both companies in October 2023 for forcing in-app payment systems, overcharging October 10, 2025
  • Stock markets open higher after weeklong Chuseok holiday
    Stock markets open higher after weeklong Chuseok holiday SEOUL, October 10 (AJP) - South Korean stock markets opened sharply higher on Friday after a weeklong break for the country's biggest Chuseok holiday. The benchmark KOSPI opened at 3,598.11, up 1.38 percent, while the junior Kosdaq rose 0.54 percent to 858.86. Within just several minutes of trading, the KOSPI climbed to 3,606.86, reaching the 3,600 level for the first time. Before the holiday that began last Friday, the KOSPI closed at a record high of 3,549.21 on Oct. 2. Whi October 10, 2025
  • Hyundai Motors hydrogen truck included among TIME magazines best inventions this year
    Hyundai Motor's hydrogen truck included among TIME magazine's 'best inventions' this year SEOUL, October 10 (AJP) - Hyundai Motor's hydrogen electric truck has been named one of TIME magazine's "Best Inventions" for this year, the automaker said on Friday. The Xcient is an autonomous hydrogen-electric truck developed in collaboration with PlusAI, an American autonomous driving technology company based in California. The vehicle combines Hyundai's hydrogen platform with PlusAI's Level 4 self-driving software, SuperDrive. As the world's f October 10, 2025
  • Foreign reserves rise for fourth consecutive month
    Foreign reserves rise for fourth consecutive month SEOUL, October 10 (AJP) - South Korea's foreign reserves rose by about $6 billion in September, extending their growth streak for the fourth consecutive month since June. According to data released by the Bank of Korea on Thursday, the reserves stood at $422.02 billion at the end of September, up $5.73 billion from the previous month. A Bank of Korea official attributed the increase to higher investment returns and a rise in foreign currency deposits at financial instit October 10, 2025
  • KAIST-incubated startup exports epilepsy drug technology worth $528 million
    KAIST-incubated startup exports epilepsy drug technology worth $528 million SEOUL, October 09 (AJP) - A startup founded by KAIST professor Lee Jung-ho has licensed out an experimental RNA-based drug for hard-to-treat epilepsy in a deal valued at about 750 billion won ($529 million), the university said Thursday. Sovargen, co-founded by Lee and biotech entrepreneur Park Chul-won, signed an exclusive option agreement with Italy's Angelini Pharma for global development and commercialization of a first-in-class antisense oligonucleotide (ASO) therapy aime October 9, 2025
  • South Korea scrambles over EUs new steel trade curbs
    South Korea scrambles over EU's new steel trade curbs SEOUL, October 08 (AJP) -South Korea’s government and steelmakers are rushing to respond to the European Union’s latest protectionist move on steel imports, which adds to the heavy tariffs already imposed by the United States on steel and aluminum. The EU has issued a new set of barriers that halve import quotas and double tariffs beyond those limits, the Ministry of Trade, Industry and Energy said Tuesday. Under the European Commission’s proposed tariff-r October 8, 2025
  • Korean treasuries set for WGBI entry in April 2026 as planned: FTSE Russell
    Korean treasuries set for WGBI entry in April 2026 as planned: FTSE Russell SEOUL, October 08 (AJP) - South Korean government bonds will join the World Government Bond Index (WGBI) in April 2026 as scheduled, global index provider FTSE Russell confirmed Tuesday. The timeline, originally announced last year, had been revised from November 2025 to April 2026, triggering investor jitters over possible second thoughts about Korea’s sovereign credibility. The adjustment came just days after the Constitutional Court removed former President Yoon Suk October 8, 2025
  • Discount stores crowd Koreas $5 billion health supplement market
    Discount stores crowd Korea's $5 billion health supplement market SEOUL, October 08 (AJP) - The race for South Korea’s fast-growing health and dietary supplement market is intensifying as bargain retailers and convenience stores challenge traditional drugstores for a share of a wellness-driven, aging society where eight out of 10 households regularly take preventive supplements. According to Expert Market Research, Korea’s health supplement market was valued at $5.45 billion in 2024 and is projected to expand at a compound annual growt October 8, 2025
  • Gold prices hit record high, surpass $3,900 point
    Gold prices hit record high, surpass $3,900 point SEOUL, October 06 (AJP) - Gold prices have reached an all-time high, surpassing $3,900 per troy ounce for the first time. This surge is attributed to increased demand for safe-haven assets amid the ongoing U.S. federal government shutdown. According to Reuters, gold prices briefly hit $3,919.59 early Monday, with December futures reaching $3,926.80. Gold has risen 49% this year, frequently setting new records. The price increase is driven by the prolonged U.S. governme October 6, 2025