Industry

  • Squid Game Season 3 spurs retail frenzy in South Korea
    'Squid Game' Season 3 spurs retail frenzy in South Korea SEOUL, June 30 (AJP) - As Squid Game returns to screens for its third season, South Korea’s retail sector is turning the Netflix juggernaut into a merchandising powerhouse, deploying immersive pop-ups, collectible goods, and brand collaborations to capture the momentum of the global hit. From convenience store chains to luxury department stores, businesses are rushing to stake their claim in what has become one of the year’s most aggressively commercialized entertainme June 30, 2025
  • POSCO to launch lithium extraction project in US
    POSCO to launch lithium extraction project in US SEOUL, June 30 (AJP) - POSCO Holdings said on Monday that it plans to produce lithium in the United States for the first time, positioning itself at the forefront of efforts to localize battery material supply chains in North America. In a memorandum of understanding signed with Australia’s Anson Resources, POSCO will build and operate a demonstration plant in Green River City, Utah, deploying its proprietary direct lithium extraction (DLE) technology. The agreement marks the June 30, 2025
  • Technocrat-turned-executive to guide Koreas energy policy
    Technocrat-turned-executive to guide Korea's energy policy SEOUL, June 30 (AJP) - In a move signaling South Korea’s deepening commitment to pragmatic industrial policy, President Lee Jae-myung on Sunday nominated Kim Jung-kwan, a technocrat-turned-corporate strategist, as the next Minister of Trade, Industry and Energy. The choice of Kim, currently president of Doosan Enerbility, places a seasoned public servant with cross-sector experience at the helm of a ministry central to Korea’s energy transition and industrial competiti June 30, 2025
  • Regulators target Aekyung, SK Chemicals over humidifier disinfectant scandal
    Regulators target Aekyung, SK Chemicals over humidifier disinfectant scandal SEOUL, June 30 (AJP) - South Korea’s antitrust regulator has launched enforcement proceedings against Aekyung Industrial and SK Chemicals after the two companies failed to comply with orders to publicly acknowledge their responsibility in one of the country’s deadliest consumer product scandals. The Fair Trade Commission (KFTC) has issued examination reports recommending prosecution for both firms, according to industry sources. In 2018, the commission imposed fines t June 30, 2025
  • Loan cap in South Korea risks deepening housing inequality
    Loan cap in South Korea risks deepening housing inequality SEOUL, June 29 (AJP) - A sweeping new lending regulation which took effect Friday is shaking South Korea’s housing market, drawing mixed reactions from economists and homebuyers alike. The rule, which caps home mortgage loans at 600 million won (approximately $430,000), is intended to curb speculative buying and stabilize soaring home prices in Seoul. But critics warn it could further squeeze middle-class buyers out of the market. Under the new regulation, even high-in June 29, 2025
  • South Korea-US tariff negotiations intensify as July deadline approaches with specific American demands
    South Korea-US tariff negotiations intensify as July deadline approaches with specific American demands SEOUL, June 28 (AJP) - South Korea and the United States engaged in detailed tariff negotiations from Jun. 22 to 27 in Washington DC, with American officials presenting specific demands ranging from beef import regulations to participation in Alaska's liquefied natural gas projects, government sources said on Saturday. The third round of technical discussions between Trade Minister Yeo Han-gu and US counterparts comes as the Jul. 8 deadline for mutual tariff relief approaches, ma June 28, 2025
  • Samsung Electronics surpasses 10,000 GWh renewable energy usage in 2024, introduces first domestic PPA contracts
    Samsung Electronics surpasses 10,000 GWh renewable energy usage in 2024, introduces first domestic PPA contracts SEOUL, June 28 (AJP) - Samsung Electronics' renewable energy consumption exceeded 10,000 gigawatt-hours for the first time in 2024, reaching 10,069 GWh and representing an 8.4 percent increase from the previous year, the company reported on Friday. The milestone was disclosed in Samsung's 2025 Sustainability Management Report, which detailed the company's environmental, social and governance performance alongside its expanding commitment to clean energy adoption across June 28, 2025
  • Apples EU fee cuts spotlight South Koreas unfulfilled promise to curb app store commission abuse
    Apple's EU fee cuts spotlight South Korea's unfulfilled promise to curb app store 'commission abuse' SEOUL, June 27 (AJP) - Electronics giant Apple's decision to slash app store fees in Europe is putting fresh pressure on South Korea's government to deliver on President Lee Jae Myung's campaign promise to tackle what critics call "commission abuse" by big tech platforms. The iPhone maker announced sweeping changes to its European app store policies on Thursday, cutting maximum commission rates from 30 percent to 15 percent and allowing developers to promote al June 27, 2025
  • Musinsahigh-end concept store sees 60 percent surge in foreign customer sales in first half
    Musinsa'high-end concept store sees 60 percent surge in foreign customer sales in first half SEOUL, June 27 (AJP) - Foreign customer transactions at Musinsa Empty Seongsu, the high-end fashion concept store operated by South Korean fashion platform Musinsa, surged 61 percent in the first half of 2025 compared to the same period last year, the company announced on Friday. International visitors now account for approximately 56 percent of total offline sales at the Seongsu location, Seoul's iconic hipster district, highlighting the store as a must-visit fashion destinati June 27, 2025
  • AI dispatch system helps food deliverymen avoid motor accidents: Study
    AI dispatch system helps food deliverymen avoid motor accidents: Study SEOUL, June 27 (AJP) - A study has found that an artificial intelligence-based logistics system developed by Woowa Youths, the logistics unit of food delivery giant Woowa Brothers, has significantly reduced motor accident rates among its delivery workers. The findings were presented this week at an international academic conference in Cyprus, the company said Friday. The research was unveiled on Wednesday at Statistical Challenges in E-Commerce Research (SCER 2025), a major global June 27, 2025