South Korea's KB Securities opens Mumbai office to tap India's financial markets SEOUL, December 03 (AJP) - South Korea’s KB Securities has formally opened an office in Mumbai, marking its entry into India’s fast-growing financial market. The new office is located in Lower Parel, positioned between Mumbai’s traditional business center of Nariman Point and the Bandra Kurla Complex (BKC), the city’s financial hub. KB Securities said the branch will focus on exploring investment opportunities and strengthening its presence in India&rsquo December 3, 2025

Hanwha Aerospace wins second contract for Cheongeom air-to-ground missiles SEOUL, December 03 (AJP) - South Korea’s Hanwha Aerospace said on Wednesday it has signed a second production contract with the Defense Acquisition Program Administration (DAPA) to supply additional Cheongeom air-to-ground missiles, in a deal valued at 225.4 billion won ($170 million). The new order follows an earlier 162.3 billion won contract, bringing total procurement for the program to 387.7 billion won. Deliveries of the missiles and launchers to the South Korean mil December 3, 2025

Korea's GDP fared better than expected in Q3, nominal GNI falls on sharp won weakening SEOUL, December 03 (AJP) - South Korea's economy grew faster than earlier estimated on the back of stronger capital investment, but its nominal income declined against a strong dollar, reflecting the Korean won’s status as one of the weakest performers among major traders. According to the Bank of Korea (BOK) on Wednesday, real gross domestic product increased 1.3 percent from the previous quarter — the strongest since the fourth quarter of 2021 — acceleratin December 3, 2025

South Korea's Doosan Bobcat files 14 patent suits against US machinery maker Caterpillar SEOUL, December 03 (AJP) - Doosan Bobcat’s North American unit has filed a series of patent infringement lawsuits against U.S. construction machinery maker Caterpillar. The company said Wednesday it has lodged complaints covering 14 patents with the U.S. District Court for the Eastern District of Texas, the U.S. International Trade Commission, the Unified Patent Court in Europe, and a federal court in Germany. “The patents in this lawsuit protect unique features o December 3, 2025

Hanwha Systems plans to develop Korea's first homegrown satellite semiconductor SEOUL, December 03 (AJP) - Hanwha Systems has launched development of what it says will be South Korea’s first satellite semiconductor built entirely with domestic technology, marking a major step toward self-reliance in defense-oriented space systems. The company said Wednesday it has signed an agreement with the Defense Technology Promotion Research Institute to co-develop “transceiver space semiconductor technology for (ultra) small-satellite multi-channel beamfor December 3, 2025

Samsung's double-folding smartphone raises stakes in global foldable phone race SEOUL, December 03 (AJP) - Samsung Electronics has unveiled the Galaxy Z TriFold, the company’s first smartphone capable of folding twice, marking its most ambitious entry yet in the fast-evolving foldables segment. The device was officially launched at a media event in Seoul on Tuesday, after being previewed at the APEC CEO Summit in October. “The Galaxy Z TriFold represents the evolution of our smartphone design and engineering capabilities since o December 3, 2025

Korea fast-tracks special laws to rescue steel and petrochemical sectors SEOUL, December 03 (AJP) - South Korea’s steel and petrochemical industries are coming under renewed strain amid a global economic slowdown and intensifying competition from China, prompting the government to move quickly on targeted legislation to stabilize two of the country’s most critical industrial pillars. Following the recent passage of the K-Steel Act, the Petrochemical Industry Competitiveness and Support Act is also expected to clear the National Assemb December 3, 2025

South Korea's FX reserves rise for sixth month to $430.7 billion SEOUL, December 03 (AJP) - South Korea’s foreign exchange reserves climbed for a sixth straight month in November, rising by $1.84 billion to $430.66 billion — the highest level since August 2022 — the Bank of Korea (BOK) said on Wednesday. The steady increase follows a five-year low of $404.6 billion recorded in May. The central bank said the latest gain was driven by higher investment returns and an uptick in foreign-currency deposits held by domestic fina December 3, 2025

South Korean brokerages post higher profit in Q3 SEOUL, December 03 (AJP) - South Korean securities firms posted a combined net profit of 2.49 trillion won in the third quarter, up 37.6 percent from a year earlier but down 12.6 percent from the previous quarter, preliminary data from the Financial Supervisory Service (FSS) showed on Wednesday. The sector’s average return on equity rose to 2.6 percent from 2.1 percent a year earlier, supported by a rebound in stock markets that lifted commission income. However, higher December 3, 2025

Aju Media Group and Vision Culture sign partnership for WAIFF Seoul 2026 SEOUL, December 02 (AJP) - Aju Media Group and Vision Culture signed a memorandum of understanding (MOU) on Tuesday to form a strategic partnership for the successful hosting of the “World AI Film Festival (WAIFF) Seoul 2026.” The signing ceremony was held at Aju Media Group’s headquarters in Jongno-gu, central Seoul. The event was attended by Aju Media Group Chairman Kwak Young-gil, President Lim Kwu-jin, Vision Culture Chairman Byun Jun-yeon, and WAIFF Seoul C December 2, 2025