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[K-Tech] Korea selects five teams to develop national AI models in major push for technological sovereignty SEOUL, August 04 (AJP) - The South Korean government has selected five elite teams to spearhead the development of foundational artificial intelligence models, marking a major step in the country’s effort to build a sovereign AI ecosystem. The Ministry of Science and ICT announced Monday that the teams — Naver Cloud, Upstage, SK Telecom, NC AI, and LG AI Research — were chosen following a government-led evaluation of proposals based on technological capability, s August 4, 2025
[K-Tech] Ground broken for South Korea's first renewable biofuel plant SEOUL, August 4 (AJP) - LG Chem has begun construction on South Korea’s first hydrotreated vegetable oil (HVO) production facility, marking a major step in the country’s push to expand its footprint in sustainable energy and materials. The plant, located in the coastal city of Seosan in South Chungcheong Province, is being developed by LG-Eni Biorefining, a joint venture between LG Chem and Italian energy company Eni. Completion is expected by 2027, the company said in a August 4, 2025
[K-Bio] Korean pharma firms post record earnings despite US trade uncertainty SEOUL, August 4 (AJP) - South Korea’s leading pharmaceutical companies reported their strongest second-quarter results on record, brushing aside investor concerns over potential U.S. trade restrictions under President Donald Trump. Biosimilar manufacturer Celltrion led the charge, posting revenue of 961.5 billion won, or approximately $692.4 million, for the April-to-June period — a 9.9 percent increase from the same quarter last year. The company’s operating pr August 4, 2025
Korea's beauty exports hit record $5.5 billion in first half SEOUL, August 04 (AJP) - South Korea’s cosmetics exports surged to a record $5.5 billion in the first half of 2025, a 14.8 percent increase from the same period last year. The latest data, released Monday by the Ministry of Food and Drug Safety, marks the highest first-half export total in the country’s history and reinforces South Korea’s position as the world’s third-largest cosmetics exporter, behind only France and the United States. If current trends August 4, 2025
[K-Drama] Streaming platforms reshape Korean drama landscape SEOUL, August 4 (AJP) - As South Korean culture continues to captivate global audiences with breakout hits like Netflix’s animated "KPop Demon Hunters" and the thriller drama The Glory, a new academic study suggests that the country’s once romance-dominated television landscape is undergoing a profound transformation — one driven by the rise of streaming platforms and expanded cable programming. A study published July 30 in the Korean Journal of Broadcas August 4, 2025
[K-Beauty] Foreign patients flock to Korea, fueling hospital-based skincare industry Editor's Note: This is the seventh article in our series exploring the evolving landscape of the Korean beauty industry and the products that captivate international visitors. SEOUL, August 04 (AJP) - South Korea is experiencing an unprecedented wave of medical tourism, driven not by emergency surgeries or rare procedures, but by dermatology clinics and skincare treatments that are drawing patients from around the world — and transforming clinics into international beaut August 4, 2025
[K-Tech] South Korea to invest $27 million in AI-powered cancer drug research SEOUL, August 04 (AJP) - South Korea will invest 37.4 billion won, or roughly $27 million, this year to advance the use of artificial intelligence and robotics in developing next-generation pharmaceuticals — with a particular focus on precision cancer therapies. The initiative, unveiled by the Ministry of Trade, Industry and Energy, aims to bolster the country’s competitiveness in the fast-growing field of antibody-drug conjugates, or ADCs — a class of targeted c August 4, 2025
Tax reform plan triggers market rout, political fallout in South Korea SEOUL, August 03 (AJP) - A sweeping tax reform proposal from President Lee Jae Myung’s administration has sparked political infighting and market turmoil, raising doubts about its ability to reconcile its pro-growth rhetoric with investor sentiment. Unveiled on July 31, the tax overhaul plan includes a controversial provision that would lower the threshold for shareholders subject to capital gains taxes from 5 billion won (about $3.9 million) per stock to 1 billion won ($770 August 3, 2025
US demand for rice market access clouds prospects for Lee-Trump summit SEOUL, August 03 (AJP) - A dispute over U.S. access to South Korea’s rice market is casting a shadow over a planned summit between South Korean President Lee Jae Myung and U.S. President Donald Trump, raising concerns that economic friction could spill into broader diplomatic discussions. American officials have claimed that South Korea agreed to open its rice market to U.S. imports as part of recent trade negotiations. But South Korean officials, including President Lee& August 3, 2025
S. Korea moves to legislate 'K-Steel Act' as U.S. tariff hike threatens steel exports SEOUL, August 01 (AJP) - South Korean lawmakers are pushing for a new legislative measure known as the "K-Steel Act" to support the domestic steel industry amid rising trade pressure from the United States' high tariffs and a flood of cheap Chinese imports. According to political sources on Friday, Rep. Eoh Ki-gu of the Democratic Party and Rep. Lee Sang-hwi of the People Power Party plan to introduce a bipartisan bill to protect domestic steel production on August 4. August 1, 2025