Industry

  • Immigration crackdown leads Korean firms to cancel business trips to US
    Immigration crackdown leads Korean firms to cancel business trips to US SEOUL, September 07 (AJP) - Hyundai Motor Company has canceled all scheduled business trips to the United States after hundreds of South Korean workers were arrested in Georgia on charges of illegal stay and employment. Industry sources confirmed Sunday that the automaker had notified employees that all travel to the U.S. was suspended. The decision comes after a raid on a joint battery plant operated by LG Energy Solution and Hyundai Motor Group on Sept. 4 led to the detention of September 7, 2025
  • Samsung plans to embed AI across 90 percent of its business by 2030
    Samsung plans to embed AI across 90 percent of its business by 2030 SEOUL, September 07 (AJP) - Samsung Electronics plans to integrate artificial intelligence into nearly all of its operations within the next five years, a sweeping transformation that the company says will redefine how it makes and markets everything from smartphones to home appliances. Roh Tae-moon, the acting head of Samsung’s DX Division, which oversees consumer electronics and mobile devices, said at a news conference at the IFA 2025 trade show in Berlin that the company September 7, 2025
  • Charter flight to bring home Korean workers held in US
    Charter flight to bring home Korean workers held in US SEOUL, September 07 (AJP) - The South Korean government said on Sunday that it had successfully negotiated the release of over 300 of its citizens who were detained by American immigration authorities at a construction site in Georgia. The workers were building a joint battery plant for Hyundai Motor Group and LG Energy Solution. Lee Hun-sik, the chief of staff to President Lee Jae Myung, announced that “negotiations for the release of the detained workers have been compl September 7, 2025
  • Rare lung disease drug fails to secure health insurance coverage in Korea
    Rare lung disease drug fails to secure health insurance coverage in Korea SEOUL, September 06 (AJP) - A breakthrough medication for a rare lung disease has been denied health insurance coverage in South Korea, leaving desperate patients to bear the full cost of treatment. According to the Health Insurance Review & Assessment Service on Saturday, the Tyvaso inhalation solution was rejected on Thursday during its ninth pharmaceutical benefit evaluation committee meeting of 2025. The drug, developed by U.S. based United Therapeutics Corporation and do September 6, 2025
  • South Korea-US trade complaints double as Trump tariffs undermine FTA benefits
    South Korea-US trade complaints double as Trump tariffs undermine FTA benefits SEOUL, September 06 (AJP) - South Korean exporters are grappling with mounting trade barriers as complaints about US market access surged to twice last year's levels, undermining benefits from the bilateral free trade agreement amid Washington's protectionist pivot. Trade grievances filed with South Korea's FTA support center jumped to 1,526 cases in the first seven months of this year, already surpassing the full-year 2024 total of 1,380 cases, according to data from th September 6, 2025
  • US immigration raid at Hyundai Motor, LG Energy Solution battery plant comes amid ongoing economic cooperation
    US immigration raid at Hyundai Motor, LG Energy Solution battery plant comes amid ongoing economic cooperation SEOUL, September 06 (AJP) - U.S. immigration authorities arrested 475 people including about 300 South Korean nationals at a Hyundai Motor Group battery plant construction site in Georgia, creating diplomatic tensions just weeks after Seoul pledged billions in American investments. The sweeping raid Friday (local time) at the 3000-acre Hyundai Motor Group-LG Energy Solution joint venture facility came as the two countries were conducting follow-up negotiations on tariffs and investm September 6, 2025
  • LG Electronics targets doubling Europe appliance revenue within five years
    LG Electronics targets doubling Europe appliance revenue within five years SEOUL, September 05 (AJP) - LG Electronics outlined plans to double its European home appliance revenue within five years and become the region's leading appliance brand, according to statements made Friday (KST) during a media briefing at IFA 2025 in Berlin. Home and Living Solutions division head Ryu Jae-chul presented the company's European market strategy focusing on B2B, direct-to-consumer sales, and non-hardware services to achieve sustainable growth. The European ap September 5, 2025
  • South Korea launches task force to develop AI-powered smart cities
    South Korea launches task force to develop AI-powered smart cities SEOUL, September 05 (AJP) - South Korea's Ministry of Land, Infrastructure and Transport has established a dedicated task force to spearhead the development of artificial intelligence-driven cities, marking a significant step beyond traditional smart city initiatives. The newly formed task force held its inaugural meeting on Friday, bringing together departments specializing in urban development, architecture, and mobility alongside key research institutes and public corporation September 5, 2025
  • SK hynix maintains DRAM market lead over Samsung in second quarter
    SK hynix maintains DRAM market lead over Samsung in second quarter SEOUL, September 05 (AJP) - SK hynix retained its position as the world's largest DRAM manufacturer in the second quarter of 2025, widening its lead over Samsung Electronics as high-bandwidth memory (HBM) demand continued to drive growth, according to data released Friday by market research firm Omdia. Global DRAM industry revenue increased 17.3 percent quarter-over-quarter to $30.92 billion, driven by rising contract prices and increased HBM shipments. SK hynix expanded its D September 5, 2025
  • South Koreas credit card firms post profit drop as delinquency hits decade high
    South Korea's credit card firms post profit drop as delinquency hits decade high SEOUL, September 05 (AJP) - South Korea's credit card companies saw their combined net profits sink more than 18 percent in the first half of the year, with delinquency rates climbing to their highest point in over a decade, according to data released Friday by the Financial Supervisory Service (FSS). Net profits stood at 1.2251 trillion won ($8.79 billion) for the January–June period, down 18.3 percent from a year earlier. The slide came even as revenue rose by 331.1 bi September 5, 2025