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[K-Tech] Hanwha's US shipyard to build LNG carrier in $250 million deal SEOUL, July 23 (AJP) - Hanwha Ocean has signed a 348 billion won (approximately $250 million) contract with its American affiliate, Hanwha Philly Shipyard, to build a liquefied natural gas (LNG) carrier. The agreement includes an option for a second vessel and highlights Hanwha Group’s broader strategy to position itself at the forefront of U.S. regulatory changes requiring domestically built LNG carriers for American gas exports starting in 2029. The move comes amid a re July 23, 2025
HMM expands global port investments with major projects in Brazil, Spain SEOUL, July 22 (AJP) - HMM, South Korea’s largest shipping company, is accelerating its push into international port terminal operations, targeting long-term leases and acquisitions as it seeks to cement its position in the global logistics market. The company plans to invest in terminals with operating rights spanning 20 to 30 years, generating revenue through vessel management, cargo handling, storage, and integrated logistics services. According to industry sources, HM July 22, 2025
Hanwoo beef gets legislative backing as Korea aims to modernize cattle farming SEOUL, July 22 (AJP) - South Korea has enacted a new law aimed at strengthening the nation's hanwoo beef industry. The Ministry of Agriculture, Food and Rural Affairs announced Tuesday that the so-called “Hanwoo Act” has been officially promulgated and will go into effect on July 23 next year. The legislation mandates that the government devise rolling five-year development plans for the premium Korean beef industry and provide direct financial support to cattle f July 22, 2025
Hanwha Ocean tops post-merger performance among Korea's major corporate acquisitions SEOUL, July 22 (AJP) - Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering, has emerged as the top-performing acquisition among major corporate takeovers by South Korea’s 30 largest conglomerates since 2015, according to an analysis released Tuesday by the corporate research firm Leaders Index. The report examined 20 acquisitions valued at over 500 billion won (approximately $365 million), assessing performance across key shareholder metrics including revenue July 22, 2025
Hyundai's electric vehicle exports plunge 88 percent amid US setbacks SEOUL, July 22 (AJP) - Hyundai Motor Group’s electric vehicle exports plunged nearly 90 percent in the first five months of 2025, as softening demand and looming policy shifts in the United States threaten the automaker’s global electrification strategy. Data released Tuesday by the Korea Automobile & Mobility Association showed that Hyundai and its affiliate Kia shipped just 7,156 EVs between January and May, an 88 percent decline from 59,705 units during the same p July 22, 2025
[K-Tech] LG unveils advanced EXAONE AI ecosystem SEOUL, July 22 (AJP) - LG AI Research unveiled its next-generation artificial intelligence platform, the EXAONE ecosystem, on Tuesday at its annual AI Talk Concert, signaling an aggressive push into multimodal AI, enterprise solutions, and scientific research. Held at the Magok LG Science Park in Seoul, the event highlighted the firm's ambition to position itself at the forefront of AI innovation across industries ranging from finance to biotechnology. “In 2025, we are July 22, 2025
KDB fast-tracks $73 billion tech fund to bolster strategic industries SEOUL, July 22 (AJP) - Korea Development Bank plans to launch a sweeping 100 trillion won (approximately $73 billion) investment fund aimed at strengthening South Korea’s capabilities in critical high-tech sectors, including artificial intelligence, semiconductors, biotechnology, and robotics. According to financial industry sources, the state-run lender has formed a task force to lay the administrative groundwork for the fund and is actively exploring organizational restruc July 22, 2025
[K-Tech] Korean tech firms race to build homegrown AI foundation model SEOUL, July 22 (AJP) - South Korea’s top technology firms, artificial intelligence startups, and academic institutions are vying to lead a high-profile government initiative aimed at developing a sovereign AI foundation model — part of the country’s broader push to establish itself as a global AI powerhouse. The Ministry of Science and ICT said Tuesday it had received proposals from 15 consortia — described by officials as “elite teams” — July 22, 2025
South Korean retail investors dump gold as stocks rally SEOUL, July 22 (AJP) - South Korean retail investors have turned net sellers of gold for the first time in over a year, pivoting toward equities as the country’s main stock index soared to its highest level in nearly four years. Between July 1 and July 21, individual investors unloaded a net 15.9 billion won, or approximately $11.4 million, worth of gold on the Korea Exchange, with a sharp 11.1 billion won sold in a single day on July 21, according to exchange data. Proprie July 22, 2025
Korea's new finance minister pledges swift tariff talks with US SEOUL, July 21 (AJP) - South Korea’s newly appointed Deputy Prime Minister and Finance Minister, Koo Yun-cheol, pledged on Monday to move swiftly in pursuing tariff negotiations with the United States, citing national interests and practical outcomes as top priorities. Speaking at his inaugural press briefing at the Government Complex in Sejong, Koo emphasized the urgency of the talks, which come amid a fast-approaching deadline for a proposed mutual tariff suspension by Washi July 21, 2025