Industry

  • HD Hyundai deepens investment in Bill Gates–backed nuclear start-up
    HD Hyundai deepens investment in Bill Gates–backed nuclear start-up SEOUL, June 19 (AJP) - HD Hyundai said Thursday it has strengthened its partnership with TerraPower, joining a $650 million funding round led by the U.S. nuclear firm. The fresh capital infusion will help finance construction of the first commercial Natrium reactor in the United States and support broader international deployment of TerraPower’s small modular reactor (SMR) technology, according to the company. Founded in 2006 by Bill Gates, TerraPower is developing June 19, 2025
  • Fed holds rates, prompting caution in Seoul about monetary easing
    Fed holds rates, prompting caution in Seoul about monetary easing SEOUL, June 19 (AJP) - The U.S. Federal Reserve has opted to keep interest rates unchanged for a fourth consecutive meeting, a decision that is expected to prompt South Korea’s central bank to adopt a more cautious approach to monetary easing in the month ahead. The Fed’s decision, made during the June 17–18 Federal Open Market Committee (FOMC) meeting, leaves the U.S. benchmark rate at 4.25 to 4.50 percent. The Bank of Korea (BOK), which lowered its key rate June 19, 2025
  • South Koreas construction output sees sharpest decline in decades
    South Korea's construction output sees sharpest decline in decades SEOUL, June 19 (AJP) - South Korea’s construction sector recorded its steepest quarterly contraction since the 1997-98 Asian financial crisis, as both public and private projects ground to a halt amid tightening budgets and waning demand. The total value of construction completed in the first quarter fell 21.2 percent year-on-year to 26.87 trillion won (approximately $19.5 billion), according to data released Thursday by the Korea Research Institute for Construction Policy. June 19, 2025
  • Older DDR4 memory chips now outprice newer DDR5s
    Older DDR4 memory chips now outprice newer DDR5s SEOUL, June 19 (AJP) - In a rare twist in the global semiconductor market, older-generation DDR4 memory chips are now trading at higher prices than more advanced DDR5s, signaling a short-term disruption in traditional pricing dynamics. According to DRAMeXchange, a market research firm tracking semiconductor prices, 16-gigabit DDR4 chips traded at an average of $7.00 each on Tuesday, surpassing DDR5 chips of the same capacity, which averaged $5.90. The reversal — first obs June 19, 2025
  • Hyundai Card launches Black Card in Korea for ultra-wealthy
    Hyundai Card launches 'Black Card' in Korea for ultra-wealthy SEOUL, June 19 (AJP) - Hyundai Card has introduced the American Express Centurion Card — commonly known as the “Black Card” — in South Korea for the first time, marking a bold entry into the ultra-premium credit card segment long dominated by global issuers. Recognized worldwide for its exclusivity and luxury, the Centurion Card represents the pinnacle of the AMEX hierarchy, sitting above the Platinum, Gold, and Green cards. The launch follows Hyundai Ca June 19, 2025
  • LS, with eyes on Europe and beyond, builds battery, energy empire
    LS, with eyes on Europe and beyond, builds battery, energy empire Editor's Note: This article is the 23rd installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, June 18 (AJP) - Despite mounting uncertainty in the global electric vehicle market, South Korea’s LS Group is standing firm on its long-term investment plans in battery materials and carbon-free electricity, pledging there will be “no reduction in investm June 19, 2025
  • Forum highlights need for economic reboot in face of industrial upheaval
    Forum highlights need for economic 'reboot' in face of industrial upheaval SEOUL, June 18 (AJP) - As South Korea faces mounting pressure to stay competitive in an era of rapid technological change, policymakers and industry leaders gathered Wednesday at a technology forum in Seoul to urge sweeping innovation and a reimagining of the country’s growth strategy. The Aju Future Strategy Forum, hosted by Aju News Corporation and held at the FKI Tower in Yeouido, convened government officials, lawmakers, and economic experts to assess the challenges confro June 18, 2025
  • Korean government unveils plan for national AI service, major R&D expansion
    Korean government unveils plan for national AI service, major R&D expansion SEOUL, June 18 (AJP) - South Korea's Ministry of Science and ICT announced sweeping plans on Wednesday to accelerate the nation’s artificial intelligence capabilities, pledging to launch a state-sponsored AI service and boost research and development funding by more than 4 trillion won (approximately $2.9 billion). In a policy briefing to the National Policy Planning Committee at the Government Complex in Sejong, ministry officials outlined a strategy that favors promotion June 18, 2025
  • Eco-friendly vehicles outpace gasoline cars in S. Korea for first time
    Eco-friendly vehicles outpace gasoline cars in S. Korea for first time SEOUL, June 18 (AJP) - For the first time, sales of eco-friendly vehicles have overtaken those of internal combustion engine (ICE) cars in South Korea, signaling a pivotal shift in one of Asia’s most technologically advanced auto markets. According to data released by the Ministry of Trade, Industry and Energy, sales of electric, hydrogen fuel cell, and hybrid vehicles accounted for 52 percent of domestic auto sales in May. A total of 73,511 eco-friendly units were sold, out June 18, 2025
  • Hanwha Ocean eyes Brazil oil platform deal
    Hanwha Ocean eyes Brazil oil platform deal SEOUL, June 17 (AJP) - Hanwha Ocean is preparing a bid for a major Brazilian offshore oil platform project, signaling its return to the high-stakes Floating Production Storage and Offloading (FPSO) market. The company’s participation in the Petrobras-led P-86 project marks its first FPSO tender. It also reflects a broader strategic pivot toward high-value offshore energy infrastructure as the global industry recovers from years of volatility and underinvestment. Hanwha Oc June 17, 2025