Industry

  • Seoul weighs phased investments, revenue sharing to counter US tariff demands
    Seoul weighs phased investments, revenue sharing to counter US tariff demands SEOUL, September 24 (AJP) - Negotiations between Washington and Seoul over a $350 billion investment package remain mired in disagreement, delaying the conclusion of a deal that was expected to ease tariffs and deepen economic ties between the two allies. In July, the two countries reached a preliminary understanding to lower mutual tariffs from 25 percent to 15 percent, including reductions on automobiles, in exchange for South Korea committing to a massive investment in the September 24, 2025
  • South Korean casino operator embraces AI to transform industry
    South Korean casino operator embraces AI to transform industry SEOUL, September 24 (AJP) - Grand Korea Leisure, a casino operator known for its foreigner-only “Seven Luck” casinos, said on Tuesday it has established an “AI Innovation Team” to accelerate the gambling industry’s transition into artificial intelligence. The company, led by Chief Executive Yoon Doo-hyun, framed the initiative as a shift from earlier digital upgrades — which largely focused on efficiency through conventional IT — toward September 24, 2025
  • Celltrion acquires New Jersey plant for $330 million to mitigate tariff risks
    Celltrion acquires New Jersey plant for $330 million to mitigate tariff risks SEOUL, September 23 (AJP) - South Korea's Celltrion said Tuesday it had acquired an Eli Lilly manufacturing facility in New Jersey for about $330 million, a move aimed at expanding its U.S. presence and shielding the company from steep tariffs that could be imposed under the Trump administration. The 45,000-square-meter plant, which includes two production lines, will be operated by Celltrion USA. Chairman Seo Jung-jin said the purchase was part of a broader “Made in U September 23, 2025
  • Korean memory giants await super bumper years on AI harvest
    Korean memory giants await super bumper years on AI harvest SEOUL, September 23 (AJP) - South Korea’s memory giants and investors are betting on a looming chip super cycle that could prove the most lucrative and enduring yet, fueled by the surging appetite for artificial intelligence (AI). SK hynix is poised to lead the AI-driven memory race, having leapt ahead in conventional DRAM and seized the initiative in high-bandwidth memory (HBM), a critical component for powering AI chips. The company is expected to command at least half of September 23, 2025
  • Hyundai Capital launches financing services for car buyers in Indonesia
    Hyundai Capital launches financing services for car buyers in Indonesia SEOUL, September 23 (AJP) - South Korean financing company Hyundai Capital said Tuesday it had launched a new automotive finance company in Indonesia, aiming to strengthen its foothold in one of Southeast Asia’s fastest-growing car markets. The joint venture, created with Indonesia’s Sinarmas conglomerate and Shinhan Bank Indonesia, will operate under the brand name Hyundai Finance. The company plans to offer a suite of services for car buyers, including deferred September 23, 2025
  • LIG Nex1 signs pact with Airbus to bolster air defense cooperation
    LIG Nex1 signs pact with Airbus to bolster air defense cooperation SEOUL, September 23 (AJP) - South Korean defense firm LIG Nex1 said Tuesday it had signed an agreement with Airbus Defense and Space to expand collaboration on integrated air defense systems. The agreement, finalized on Sept. 22 at LIG Nex1’s headquarters in Pangyo, Gyeonggi Province, builds on an earlier pact signed during the Seoul International Aerospace and Defense Exhibition in 2023. Company officials said the latest deal aims to strengthen research in integrated a September 23, 2025
  • Celltrion shares jump on deal to acquire Eli Lilly and fend off US tariff risks
    Celltrion shares jump on deal to acquire Eli Lilly and fend off US tariff risks SEOUL, September 23 (AJP) - South Korean biopharmaceutical company Celltrion's shares surged upon a major M&A deal in the United States, setting the contract-based drug maker better positioned against U.S. tariff exposure. The company said on Tuesday its U.S. operation signed a deal to acquire Eli Lilly's biopharmaceutical manufacturing facility in Branchburg, New Jersey for about 460 billion won ($330 million), with an aim to close the deal by the end of the year. Sh September 23, 2025
  • Bithumb partners with Trump-backed blockchain company
    Bithumb partners with Trump-backed blockchain company SEOUL, September 23 (AJP) - South Korea’s leading cryptocurrency exchange, Bithumb, has entered into a strategic partnership with World Liberty Financial, a blockchain finance company co-founded by Donald Trump Jr. and his brother Eric Trump. The agreement, announced Monday at Bithumb Financial Tower in Seoul, was formalized through a memorandum of understanding signed by Bithumb’s Chief Executive, Lee Jae-won, and Jack Forkman, a co-founder of World Liberty Financia September 23, 2025
  • INTERVIEW: In age of air taxis, South Korea prepares for new era of aviation safety
    INTERVIEW: In age of air taxis, South Korea prepares for new era of aviation safety SEOUL, September 23 (AJP) - When Hwang Ho-won left the quiet corridors of academia last year for the front lines of aviation safety, he knew the stakes would be unlike anything he had faced in the classroom. “Our main focus is building a predictive aviation safety system using data,” Hwang, the head of the Korea Institute of Aviation Safety Technology, said in a recent interview. “The field’s tension and seriousness are unlike anything experienced in acad September 23, 2025
  • GM Korea faces crisis amid tariff woes, market slump
    GM Korea faces crisis amid tariff woes, market slump SEOUL, September 23 (AJP) - GM Korea is grappling with significant financial challenges stemming from steep U.S. tariffs and a struggling domestic market. The company, led by President Hector Villarreal, is facing criticism for its passive business strategy and a lack of proactive measures to secure its long-term future in the country. The most immediate threat to GM Korea's viability is a 25 percent U.S. import tariff imposed in April. Industry estimates suggest the compan September 23, 2025