Industry

  • Shrinking bonuses and heavier taxes leave S. Korean workers frustrated ahead of Chuseok
    Shrinking bonuses and heavier taxes leave S. Korean workers frustrated ahead of Chuseok SEOUL, October 06 (AJP) - As the Chuseok holiday approaches, many South Korean workers are expressing dissatisfaction. Economic uncertainty has led to reduced bonuses and increased tax burdens, dampening holiday spirits. More Time Off, Fewer Bonuses According to a survey by the Korea Employers Federation of 625 companies with five or more employees, only 60.4% plan to give Chuseok bonuses this year, down from 64.8% last year. This means 40% of companies are October 6, 2025
  • Seoul and Washington edge closer on currency safeguard amid protracted tariff talks
    Seoul and Washington edge closer on currency safeguard amid protracted tariff talks SEOUL, October 06 (AJP) - South Korean Trade Minister Kim Jung-kwan said Monday that Seoul and Washington have reached a "considerable level of understanding" on concerns over possible turbulence in South Korea's foreign exchange market caused by the ongoing tariff negotiations with the United States. Speaking to reporters at Incheon International Airport after returning from New York, Kim said both sides were "narrowing their differences" on how to minimiz October 6, 2025
  • Korean automakers turn out sales growth despite US tariffs
    Korean automakers turn out sales growth despite US tariffs SEOUL, October 03 (AJP) - South Korea’s five major automakers posted a 5.4 percent increase in sales in September from a year earlier, overcoming stronger U.S. tariffs and partial union strikes at home. The companies shipped 683,150 vehicles last month, up 5.4 percent from a year ago, according to disclosures.Hyundai Motor sold 66,001 units domestically, up 18.3 percent, and 306,297 units overseas, up 6.4 percent, buoyed by robust performance of its key brands. “Ou October 3, 2025
  • LG Energy Solution to resume US trips one month after detention of S. Korean workers
    LG Energy Solution to resume US trips one month after detention of S. Korean workers SEOUL, October 03 (AJP) - LG Energy Solution is sending staff back to the United States, ending a one-month freeze on business travel triggered by the mass detention of South Korean workers at its joint battery plant in Georgia. The move signals a step toward normalizing operations for South Korea’s battery industry, which had been rattled by the unprecedented crackdown. The company announced on October 2 that it would restart trips gradually after the Chuseok holiday, South October 3, 2025
  • Chuseok Now and Then: Pleasure Weighs Over Tradition in Korea
    Chuseok Now and Then: Pleasure Weighs Over Tradition in Korea SEOUL, October 02 (AJP) - Highways once jammed with cars crawling toward ancestral hometowns, kitchens filled with the labor of preparing feast tables, and families dressed in hanbok to perform rites of thanksgiving for the harvest—these were the defining images of Chuseok in South Korea. Today, in a depopulating society, the holiday looks very different. Many households skip or shorten the traditional observances, instead choosing leisure and travel. Inche October 3, 2025
  • KOSPI soars past 3,500 milestone for first time on semiconductor rally
    KOSPI soars past 3,500 milestone for first time on semiconductor rally SEOUL, October 02 (AJP) - The main South Korean stock index, the KOSPI, surged to a historic close on Thursday, breaching the 3,500 level for the first time on record. Driven by a frenzied rally in technology and semiconductor shares, the benchmark index climbed 93.38 points, or 2.7 percent, to settle at 3,549.21, capping a day that saw the index peak at an intraday high of 3,565.96. The powerful upward trajectory was anchored by the nation's two memory chip giants. S October 2, 2025
  • Hyundai Motor Group reports record US sales in Q3, driven by EVs, hybrids
    Hyundai Motor Group reports record US sales in Q3, driven by EVs, hybrids SEOUL, October 02 (AJP) - Hyundai Motor Group reported its best-ever third-quarter sales in the U.S. market, Thursday, signaling resilience despite trade tensions and the looming expiration of key electric vehicle tax credits. The surge was largely attributed to burgeoning demand for its environmentally friendly vehicles. The combined U.S. sales for Hyundai and its affiliate Kia reached 480,175 units in the third quarter, a substantial 12 percent increase compared to the same October 2, 2025
  • INTERVIEW: At Wooris Gangnam center, Kim Jae-sang builds home for super-rich
    INTERVIEW: At Woori's Gangnam center, Kim Jae-sang builds home for super-rich SEOUL, October 02 (AJP) - With global stock markets buoyant and demand for tangible assets rising, wealthy investors in South Korea are reassessing where to put their money. For Kim Jae-sang, head of Gangnam Financial Center of Woori Securities, the answers lie in gold — and in Asia’s two largest economies. “Gold has transitioned from a safe haven and inflation hedge to an investment asset,” Kim said in an interview. “And when it comes to equities, October 2, 2025
  • SK Biopharms US arm posts record sales of epilepsy drug
    SK Biopharm's US arm posts record sales of epilepsy drug SEOUL, October 02 (AJP) - SK Life Science, the U.S. subsidiary of South Korea’s SK Biopharm, reported record sales of its epilepsy treatment cenobamate in the first half of this year, reaching 170,000 cumulative prescriptions. The company highlighted the achievement during its annual “Plan of Action” meeting in Chicago, as it looks to build momentum in one of the world’s most competitive pharmaceutical markets. More than 130 employees from SK Life Scie October 2, 2025
  • OpenAI on board, Koreas AI drive and chip stock rally hit the accelerator
    OpenAI on board, Korea's AI drive and chip stock rally hit the accelerator SEOUL, October 02 (AJP) - South Korea has hit the accelerator in the global race for AI supremacy, drawing global capital and top-tier software players while leveraging its world-class chip and hardware infrastructure to establish itself as Asia’s hub for data centers. On Wednesday, the country’s two leading conglomerates—Samsung and SK Group, both home to the world’s biggest memory chipmakers—announced landmark partnerships with OpenAI, the creator o October 2, 2025