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KOSPI surges above 3,200 for first time since 2021
SEOUL, July 11 (AJP) - South Korea’s benchmark KOSPI index climbed above the 3,200 level for the first time in nearly four years on Friday, buoyed by a global rally in semiconductor stocks, before paring gains as foreign investors turned net sellers. The index surged as high as 3,216.69 in morning trading, its highest intraday level since September 7, 2021, when it reached 3,201.76. By early afternoon, however, the index had trimmed its advance, standing at 3,186.14 — up
July 11, 2025
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Korean exporters brace for weaker second half as tariff uncertainty looms
SEOUL, July 11 (AJP) - South Korea’s export momentum is expected to falter in the second half of 2025, weighed down by rising uncertainty over U.S. trade policy and softening global demand, according to a new industry survey. The Federation of Korean Industries (FKI), in partnership with research firm Mono Research, surveyed 150 companies among Korea’s top 1,000 exporters across ten key sectors. The findings paint a cautious picture: overall export volume is projected
July 11, 2025
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Samsung to launch XR headset this year, targeting Apple, Meta
SEOUL, July 11 (AJP) - Samsung Electronics plans to introduce its first extended reality headset later this year, positioning the device as a premium rival to Apple’s Vision Pro and Meta’s Quest lineup. The device, developed under the code name Project Moohan, marks Samsung's most ambitious move yet into immersive computing. The project is a collaboration with Google and Qualcomm, uniting three of the world’s largest tech companies as they seek to carve out spa
July 11, 2025
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Hyundai Motor unveils high-performance EV, Ioniq 6 N
SEOUL, July 11 (AJP) - Hyundai Motor has debuted its latest high-performance electric vehicle, the Ioniq 6 N, at the Goodwood Festival of Speed in southern England, marking the brand’s second entry into its performance-focused N electric vehicle lineup. Following last year’s launch of the Ioniq 5 N, the new model builds on Hyundai’s ambition to fuse electric powertrains with track-ready performance. The Ioniq 6 N features a dual-motor setup, enabling it to spr
July 11, 2025
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Lee Jae Myung leans on local currency legacy in push for grassroots recovery
SEOUL, July 10 (AJP) - After polishing off two hearty portions of Korean-style barbecue, Kim Eun-hee reached for her go-to payment method: a slim, peach-colored card labeled “Hwaseong Special City.” The 52-year-old social worker swiped it with ease, as she does nearly everywhere she shops, commutes, and eats. “I get 10 percent back every time I charge it,” Kim said, sipping an americano from a seniors’ cafe where a cup costs just 1,100 won, or about 81
July 11, 2025
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Hyundai, Kia gain US market share despite 25 percent tariffs
SEOUL, July 10 (AJP) - Hyundai Motor and its affiliate Kia notched a record 11 percent combined market share in the United States over the first five months of 2025, sidestepping the immediate effects of steep American tariffs by holding vehicle prices steady and relying on preexisting inventory. The two South Korean automakers sold a combined 752,778 vehicles from January through May, up from 10.5 percent in the same period a year earlier, according to data released Thursday by W
July 10, 2025
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Krafton opens cultural gaming hub in Seongsu-dong, Seoul
SEOUL, July 10 (AJP) - Krafton, the South Korean game developer best known for the global hit PlayerUnknown’s Battlegrounds (PUBG), is venturing beyond screens with the launch of a new three-story cultural and gaming complex in Seoul’s Seongsu-dong, a district known for its blend of street culture and creative retail. Set to open to the public on Friday, the “PUBG Seongsu” complex was unveiled to the media on Thursday, offering a first look at Krafton’s
July 10, 2025
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Korean defense industry posts record quarter amid export boom to Europe, Middle East
SEOUL, July 10 (AJP) - South Korea’s defense industry continued its unprecedented growth trajectory in the second quarter, buoyed by sustained international demand for weapons systems and armored vehicles. The nation’s four leading defense contractors — Hanwha Aerospace, Hyundai Rotem, LIG Nex1, and Korea Aerospace Industries (KAI) — are projected to report a combined operating profit exceeding 1 trillion won for the first time, according to financial estim
July 10, 2025
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Samsung C&T's 8 Seconds opens first Philippine store, expanding K-fashion reach in Southeast Asia
SEOUL, July 10 (AJP) - Samsung C&T’s casual fashion brand 8 Seconds made its official debut in Southeast Asia this week, opening its first store in the Philippines through a partnership with local retail powerhouse Suyen Corporation. The 420-square-meter flagship, located on the second floor of SM Mall of Asia in Manila, launched Wednesday with a grand opening event. Founded in 2012, 8 Seconds is positioned as a trend-driven, accessible fashion label aimed at younger
July 10, 2025
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Samsung unveils slimmest foldable yet with Galaxy Z Fold7
SEOUL, July 10 (AJP) - Samsung Electronics has introduced its latest flagship foldable, the Galaxy Z Fold7, touting it as the slimmest and lightest model in its Z Fold series to date. Unveiled at the company’s Galaxy Unpacked 2025 event in Brooklyn, the Fold7 represents a significant leap in both design and functionality as the firm continues to bet big on foldables and artificial intelligence. The new device measures just 8.9 millimeters thick when folded and 4.2 millime
July 10, 2025
