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Coupang posts record revenue, ramps up AI adoption for future growth SEOUL, August 06 (AJP) - South Korean e-commerce company Coupang Inc. reported record quarterly revenue in the second quarter of 2025, buoyed by a broader product lineup and strong international performance, particularly in Taiwan. In a filing with the U.S. Securities and Exchange Commission, Tuesday (local time), Coupang said revenue rose 19.3 percent year-over-year to 11.98 trillion won, or approximately $8.52 billion. The company surpassed its previous record of 11.49 trillion August 6, 2025
[K-Tech] LG CNS will build Indonesia's largest AI data center SEOUL, August 6 (AJP) - LG CNS said Wednesday it had secured a contract to build Indonesia’s largest artificial intelligence data center, marking the first time a Korean firm will construct such a facility abroad. The project, located in Jakarta, involves the development of an 11-story hyperscale AI data center with a power capacity of 30 megawatts and a total floor space of roughly 46,000 square meters. Construction is slated for completion by the end of 2026. Once operati August 6, 2025
[K-Beauty] CJ Olive Young courts American consumers at K-pop festival in LA SEOUL, August 05 (AJP) - CJ Olive Young, South Korea’s leading beauty retailer, drew a crowd of 36,000 visitors over three days at KCON LA 2025 with its largest K-beauty booth to date, the company said Tuesday. The immersive 430-square-meter installation spotlighted 164 products from 66 Korean brands, aiming to deepen engagement with U.S. consumers at the annual K-pop and culture festival held at the Crypto.com Arena and the Los Angeles Convention Center. At the center of August 5, 2025
[K-Tech] Samsung's Galaxy S25 hits 3 million sales in Korea — fastest pace yet for 5G Galaxy phone SEOUL, August 05 (AJP) - Samsung Electronics said Tuesday that its Galaxy S25 smartphone series has surpassed 3 million domestic sales, achieving the milestone faster than any previous 5G Galaxy S device. Launched in February 2025, the Galaxy S25 lineup reached the 3 million mark two months earlier than its predecessor, while maintaining steady momentum throughout the first half of the year. Pre-launch anticipation was particularly high, with Samsung recording 1.3 million pre-o August 5, 2025
[K-Tech] S. Korean firm lands $79 million deal for Singapore power grid expansion SEOUL, August 05 (AJP) - South Korea’s Taihan Cable & Solution has secured a major contract with Singapore’s state-run electricity provider to deliver and install a 400-kilovolt underground power network as part of a regional initiative to expand clean energy transmission. The deal, announced Tuesday, was signed with SP PowerAssets Limited and is valued at approximately 110 billion won, or $79.2 million. The project will form a critical piece of Singapore’s e August 5, 2025
[K-Food] Young chefs explore Korean cuisine in Indonesia SEOUL, August 5 (AJP) - Riding a global wave of enthusiasm for Korean food culture, South Korean food firm CJ CheilJedang has concluded its first overseas culinary competition, aimed at fostering the next generation of Korean food ambassadors abroad. The event, part of the company’s Cuisine.K initiative, was held in Indonesia in partnership with Akademi Sages, a leading culinary institute in the country. CJ CheilJedang served as the exclusive sponsor of the two-month compet August 5, 2025
China's EV boom offers new opportunities for Korean auto suppliers: KOTRA SEOUL, August 05 (AJP) - China’s dominance in electric vehicle production is opening a fresh wave of opportunities for South Korean companies, particularly those specializing in core automotive technologies and components, according to a new report by the Korea Trade-Investment Promotion Agency (KOTRA). In a report released Tuesday titled “Recent Trends and Implications in China’s Automotive Industry,” KOTRA identified strong potential for Korean firms to s August 5, 2025
[K-Tech] Korean biotech firms target Middle East's healthcare markets SEOUL, August 05 (AJP) - South Korean pharmaceutical and biotechnology companies are ramping up expansion into the Middle East, seizing new opportunities in healthcare as Gulf nations shift their economic focus away from oil and toward medical innovation and services. Botulinum toxin manufacturers and medical artificial intelligence firms are at the forefront of this push, aiming to tap into rising healthcare investments across the Gulf Cooperation Council (GCC) countries, industry August 5, 2025
South Korea moves to shore up steel industry hit by US tariffs, Chinese imports SEOUL, August 5 (AJP) - A joint inspection team made up of senior government officials and industry representatives visited major steelworks in the southeastern port city of Pohang on Tuesday, as South Korea confronts a deepening crisis in its steel sector driven by U.S. tariffs and a surge in low-cost Chinese imports. The team, including officials from the Ministry of Trade, Industry and Energy, the Ministry of Economy and Finance, and the Ministry of Land, Infrastructure and Trans August 5, 2025
POSCO joins bid to acquire Australia's historic steelworks SEOUL, August 05 (AJP) - South Korean steel firm POSCO has joined an international consortium to pursue the acquisition of the Whyalla steelworks in South Australia, as part of a broader strategy to secure low-carbon raw materials and bolster its green transition. The consortium, which includes Australia’s BlueScope Steel, Japan’s Nippon Steel, and India’s JSW Group, has submitted a non-binding expression of interest to the South Australian government. If succ August 5, 2025