Koreans spent nearly $6 billion abroad on cards in Q3, setting new record SEOUL, November 25 (AJP) - South Koreans’ overseas card spending hit an all-time high in the third quarter, buoyed by a rebound in outbound travel and steady demand for direct overseas purchases, the Bank of Korea said on Tuesday. Total spending abroad using credit and debit cards reached $5.93 billion between July and September, up 7.3 percent from the previous quarter’s $5.52 billion and surpassing the previous record of $5.71 billion set a year earlier. The cen November 25, 2025

Asia leans online while US clings to doorbuster ritual in yearend shopping season SEOUL, November 25 (AJP) - The final three months of the year are the busiest for global retailers, with brands competing for visibility through discounts, clearance deals and year-end promotions. Korea’s “Sale Festa”—the nationwide bargain season running from late October to mid-November—remains modest in scale compared to America’s Black Friday and China’s Singles’ Day, but global reach is widening, powered by the strong performance o November 25, 2025

South Korean cable producer TMC to tap US boom with IPO funds SEOUL, November 25 (AJP) - TMC, a South Korean industrial cable producer, said Tuesday it will use funds from its planned initial public offering to expand in the United States, aiming to capitalize on what it described as a “supercycle” driven by surging AI-related data demand. “At a time when the cable market has entered a new supercycle, we plan to strengthen our foothold in the expanding U.S. cable industry and secure new growth engines after listing,&rdquo November 25, 2025

Hyundai, Kia October sales fall in Europe despite market growth SEOUL, November 25 (AJP) - Hyundai Motor and Kia reported lower vehicle sales in Europe in October even as the regional market expanded, according to data released Tuesday by the European Automobile Manufacturers Association. The two automakers sold a combined 81,540 vehicles last month, down 1.4 percent from a year earlier. Hyundai’s sales slipped 1.4 percent to 41,137 units, while Kia posted a 2 percent decline to 40,403 units. Their combined market share fell to 7.5 November 25, 2025

SK's bet on chips pays off as the Korean group eyes $82b milestone exports SEOUL, November 25 (AJP) -Chipmaking — led by high-bandwidth memory (HBM) — accounted for 65 percent of record-setting outbound shipments by South Korea’s SK Group, which is on track to post historic exports of 120 trillion won ($82 billion) this year. Group-wide exports across SK’s portfolio — spanning semiconductors, batteries, energy, and telecommunications — reached 87.8 trillion won between January and September, up nearly 20 percent from November 25, 2025

Celltrion secures Korea Eximbank financing for US biosimilar plant acquisition SEOUL, November 25 (AJP) - Korea Eximbank said Tuesday it will provide 350 billion won (about $237 million) in financing to support Celltrion’s acquisition of Eli Lilly’s biosimilar manufacturing plant in the United States. The acquisition is aimed at strengthening the Korean drugmaker’s supply chain and expanding its presence in the world’s second-largest biosimilar market. Celltrion earlier said it will spend a total of roughly 1.4 trillion won on acqui November 25, 2025

Hanwha Systems expands Gumi plant with new high-tech defense facility SEOUL, November 25 (AJP) - South Korea's Hanwha Systems has opened a new production complex in Gumi, North Gyeongsang Province, following a 2.8 trillion won (approximately $2.1 billion) investment aimed at expanding its next-generation defense and electronic systems capabilities. The company said Tuesday that a completion ceremony was held at the site, with CEO Son Jae-il, local government officials, lawmakers, military officials, and partners among the 250 attendees. Th November 25, 2025

Turkey picks SK Plasma as partner in drive for domestic plasma-derived medicines SEOUL, November 25 (AJP) - South Korea's SK Plasma has been selected as the technology export partner for Turkey’s national initiative to localize production of plasma-derived medicines, with the firm set to build a plasma fractionation facility through a new joint venture. The company said Tuesday it signed a shareholder agreement in Ankara with the Turkish Red Crescent to establish a joint venture, Proturk, and construct a plasma fractionation plant — its secon November 25, 2025

Korea targets Arctic route cooperation in talks with Denmark, UK SEOUL, November 25 (AJP) - South Korea is sharpening its focus on Arctic shipping corridors as it launches a weeklong maritime diplomacy effort in Denmark and the United Kingdom, aiming to expand cooperation on emerging polar routes and secure broader international backing for its maritime agenda. The Ministry of Oceans and Fisheries said Tuesday Minister Jeon Jae-soo will meet Denmark’s Minister for Industry, Business and Financial Affairs on Nov. 26 to sign memorandums o November 25, 2025

Naver Financial, Dunamu to merge in $13.5 billion deal creating Korea's fintech giant SEOUL, November 25 (AJP) - Naver Financial, the country's top mobile payment provider, and Dunamu, operator of South Korea's largest cryptocurrency exchange Upbit, will merge in a landmark deal valued at around 20 trillion won ($13.5 billion). The boards of both companies are set to convene on Wednesday to approve the merger, with a joint press conference scheduled for Thursday at Naver's headquarters in Seongnam, south of Seoul. The combined entity would become Korea November 25, 2025