Industry

  • Homeplus, other retail chains struggle to attract buyers amid restructuring
    Homeplus, other retail chains struggle to attract buyers amid restructuring SEOUL, September 15 (AJP) - South Korea’s retail industry is in crisis, with once-prominent chains flooding the market in search of new owners. Yet despite months of outreach, potential buyers are steering clear, leaving companies from hypermarkets to e-commerce platforms stuck in limbo. Homeplus, one of the country’s largest hypermarket chains, has been searching for investors since March, when it entered restructuring to protect jobs and stabilize operations. Desp September 15, 2025
  • South Koreas trade chief heads to US for tariff talks
    South Korea's trade chief heads to US for tariff talks South Korea's Trade Minister Yeo Han-koo is traveling to Washington, D.C., on Monday to advance stalled tariff negotiations with the United States. This visit follows Industry Minister Kim Jeong-gwan's recent meeting with U.S. Commerce Secretary Howard Lutnick. Yeo plans to meet with U.S. trade officials, including Jamieson Greer from the U.S. Trade Representative's office, to discuss follow-up agreements. In July, both nations agreed to reduce mutual tariffs from September 15, 2025
  • South Korea seeks unlimited currency swap with US
    South Korea seeks unlimited currency swap with US South Korea has asked the United States for an unlimited currency swap arrangement to cushion potential shocks in the foreign exchange market as the two countries continue trade talks, the government said Monday. The Ministry of Economy and Finance confirmed that discussions are underway on a range of measures to stabilize markets but declined to disclose details. A currency swap allows two central banks to exchange currencies at a fixed rate and later reverse the trans September 15, 2025
  • Korean beauty company Leferi signs distribution deal with Philippine partner
    Korean beauty company Leferi signs distribution deal with Philippine partner SEOUL, September 13 (AJP) - South Korean beauty creator management company Leferi signed a strategic partnership agreement with Philippine distributor Biocostech Philippines Corporation on September 5 to jointly develop K-beauty content and cosmetics distribution models, the company announced Friday. Under the memorandum of understanding, the companies will establish "K-Beauty Selection Zones" in Philippine online and offline retail channels. Leferi will provide its prop September 13, 2025
  • Korean and US trade ministers meet in New York amid stalled tariff negotiations
    Korean and US trade ministers meet in New York amid stalled tariff negotiations SEOUL, September 13 (AJP) - South Korean Industry Minister Kim Jung-kwan met with US Commerce Secretary Howard Lutnick in New York on Saturday to discuss follow-up negotiations on the Korea-US tariff agreement reached in July, according to multiple diplomatic sources. The ministerial talks come as working-level discussions between the two countries have reportedly reached a deadlock over detailed implementation of the trade deal. Under the July 30 agreement, the US reduced planned September 13, 2025
  • KOSPI extends 9-day rally to fresh high, up 50% from April low
    KOSPI extends 9-day rally to fresh high, up 50% from April low SEOUL, September 12 (AJP) - Kospi shares continued to slope upward, finishing the week at new heights, riding on the global liquidity-powered rally. Extending a nine-session winning streak, the Kospi ended Friday 1.5 percent higher at 3,395.54 — up 7 percent from Sept. 2 and 48.6 percent above the annual low in April. Foreign and institutional investors were the main buyers, while retail investors, cautious of a potential fizzle in the summer rally, took profits. The U.S. dol September 12, 2025
  • S. Korea sees surge in complaints over social media livestream shopping
    S. Korea sees surge in complaints over social media livestream shopping SEOUL, September 12 (AJP) - South Korea’s consumer protection agency on Friday warned of a surge in complaints from shoppers who purchased fashion items through livestreaming on social media platforms. The Korea Consumer Agency said it had received 444 complaints related to clothing and textile products sold through livestream commerce on platforms such as YouTube, Instagram, TikTok, Naver Band and Facebook from 2022 through June 2025. The number of grievances has grown e September 12, 2025
  • Hyundai says immigration crackdown will delay Georgia battery plant by 2-3 months
    Hyundai says immigration crackdown will delay Georgia battery plant by 2-3 months SEOUL, September 12 (AJP) - Hyundai Motor’s top U.S. executive said Friday that construction of its $7.6 billion battery plant in Georgia will be pushed back by at least two to three months. Jose Munoz, Hyundai Motor’s global president and chief operating officer, said raids at the construction site created staffing shortages as some workers returned to South Korea following mass detentions. “For the construction phase of the plants, you need to get specialize September 12, 2025
  • Korea goes all-out to pull slumbering 30s back into the labor market
    Korea goes all-out to pull slumbering 30s back into the labor market SEOUL, September 11 (AJP) - U.K.-educated Koo turned 30 this year but still cannot dream of moving out of her parents’ home in Seoul after repeated job rejections. “Once you miss the usual hiring window, it gets harder each year and many peers end up stuck like me,” said Koo, who asked not to be fully named. After studying fashion in Britain for three years, Koo returned home and searched for work for more than a year. She gave up after repeated denials in th September 11, 2025
  • Hanwha Ocean positions itself at center of Korea-US maritime ties
    Hanwha Ocean positions itself at center of Korea-US maritime ties Editor's Note: This article is the 35th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, September 10 (AJP) - Hanwha Ocean, the South Korean shipbuilder once known as Daewoo Shipbuilding & Marine Engineering, is staking its future on a bold wager: reviving America’s long-dormant shipbuilding industry. The company announced a $5 billion inves September 11, 2025