Industry

  • As US courts Korean investment, Seoul frets over eroding industrial base
    As US courts Korean investment, Seoul frets over eroding industrial base SEOUL, August 25 (AJP) - South Korea’s biggest manufacturers are pouring billions of dollars into new plants and subsidiaries in the United States, a shift that is raising alarms about the slow erosion of the country’s own industrial base. Driven by Washington’s subsidies and political pressure to “make it in America,” Korean firms have sharply accelerated their investments abroad. Government data show manufacturers invested $1.8 billion in North A August 25, 2025
  • South Korea revives military service exemptions to keep AI talent at home
    South Korea revives military service exemptions to keep AI talent at home SEOUL, August 22 (AJP) - South Korea said Friday it would revive a military service exemption program for specialists in artificial intelligence, part of a broader effort to accelerate what officials are calling a national “AI transition” and to prevent the outflow of top talent abroad. The plan, announced in the government’s new economic growth strategy, comes as countries around the world race to secure expertise in artificial intelligence — a field that August 22, 2025
  • Soaring arms prices, spurred by tariffs, complicate helicopter deal for South Korea
    Soaring arms prices, spurred by tariffs, complicate helicopter deal for South Korea SEOUL, August 22 (AJP) - South Korea’s military is moving to acquire a new fleet of heavy-lift helicopters for its special operations forces, but rising costs for American defense systems, exacerbated by tariffs, are emerging as a major challenge. According to defense industry sources, the Defense Acquisition Program Administration (DAPA) initiated a foreign military purchase program on June 25. The project aims to procure new large transport helicopters for both the Army an August 22, 2025
  • South Korea pushes for consolidation in ailing petrochemical sector
    South Korea pushes for consolidation in ailing petrochemical sector SEOUL, August 22 (AJP) - Faced with a deep-seated crisis in its petrochemical industry, the South Korean government has set a firm deadline for a major restructuring, a move that is expected to accelerate the vertical integration of refiners and chemical producers. The government's push for consolidation comes as the sector grapples with years of overexpansion and intense market pressures. Industry experts say the sector's current woes are not only the result of global August 22, 2025
  • Pro-North Korean newspaper in Japan touts Made-in-Pyongyang smartphones
    Pro-North Korean newspaper in Japan touts 'Made-in-Pyongyang' smartphones SEOUL, August 22 (AJP) - A report in the Choson Sinbo, a pro-Pyongyang newspaper based in Japan, claims that North Korea's Jindallae Mobile Phone Factory is capable of producing hundreds of thousands of smartphones annually. The factory, located in Pyongyang's Mangyongdae district, was reportedly established in March 2018 and has a total floor area of 6,087 square meters. The report, published Aug. 20, highlights the facility’s output of dozens of types of August 22, 2025
  • Hyundai Motor Group pours billions into US robotics venture
    Hyundai Motor Group pours billions into US robotics venture SEOUL, August 22 (AJP) - Hyundai Motor Group has injected nearly 6 trillion won, or about $4.3 billion, into HMG Global, an intermediate holding company in the United States that oversees the group’s robotics and new business ventures, including Boston Dynamics. The consistent capital infusions reflect Hyundai’s aggressive push into robotics and future technologies, even as the U.S. subsidiary continues to operate at a loss. According to Hyundai Motor’s latest August 22, 2025
  • Argentine poultry imports banned after bird flu outbreak
    Argentine poultry imports banned after bird flu outbreak SEOUL, August 22 (AJP) - South Korea has suspended imports of poultry and related products from Argentina after the South American nation confirmed an outbreak of highly pathogenic avian influenza at a commercial farm. The Ministry of Agriculture, Food and Rural Affairs said Friday the ban took effect on Aug. 17, the day Argentina reported the case. Shipments that departed Argentina after Aug. 3 will undergo heightened screening. The ministry emphasized that the move is unlikely August 22, 2025
  • South Korea targets foreign speculators with ban on housing purchases
    South Korea targets foreign speculators with ban on housing purchases SEOUL, August 21 (AJP) - South Korea will ban nonresident foreigners from purchasing homes in Seoul and other major metropolitan areas, the Ministry of Land, Infrastructure and Transport announced Thursday. Beginning Aug. 26, foreign individuals, corporations and governments must obtain prior approval before acquiring residential property in designated areas. Buyers granted approval will be required to move in within four months and maintain residency for at least two years. The August 21, 2025
  • Consumer complaints surge against South Korean fashion platforms
    Consumer complaints surge against South Korean fashion platforms SEOUL, August 21 (AJP) - Consumer complaints against South Korea’s fast-growing online fashion platforms have soared more than 30 percent in the past year, the Korea Consumer Agency said Thursday. The agency said it had logged 1,650 complaints from 2022 through June this year against four of the country’s largest platforms — W Concept Korea, Musinsa, Ably Corporation and Kakao Style. The annual caseload nearly doubled in two years, jumping from 278 in 2022 to 44 August 21, 2025
  • Korean financial regulator inspects firms hit by ransomware attacks
    Korean financial regulator inspects firms hit by ransomware attacks SEOUL, August 21 (AJP) - South Korea’s top financial regulator has begun on-site inspections of companies struck by recent ransomware attacks, as concerns mount over the security of consumer data in the country’s financial sector. The Financial Supervisory Service dispatched examiners to SGI Seoul Guarantee, the nation’s leading guarantee insurance provider, and to Welrix F&I Loan, a lending affiliate of Welcome Financial Group, according to industry official August 21, 2025