Korea Zinc wins approval for renewable energy project in Australia SEOUL, October 22 (AJP) - Korea Zinc’s push into renewable energy gained new momentum this week after the government of New South Wales, Australia, approved the company’s plan to build a large-scale battery storage system and solar power plant — a centerpiece of its global clean-energy ambitions. The project, known as the Richmond Valley Battery Energy Storage System (BESS), is being developed by Korea Zinc’s Australian subsidiary, Arc Energy. Once comple October 22, 2025

Seoul to gradually phase out fuel tax relief by year-end SEOUL, October 22 (AJP) -South Korea will begin winding down the fuel tax relief that has been in place since the post-pandemic inflation surge, the Ministry of Economy and Finance said Wednesday. The measure, which had been scheduled to expire at the end of October, will be extended through the end of the year — though at reduced rates — to “avoid overburdening consumers,” the ministry said in a statement. Starting November, the gasoline tax cut wil October 22, 2025

S&P upgrades LG Electronics' credit outlook, citing India IPO SEOUL, October 22 (AJP) - Standard & Poor’s on Tuesday upgraded LG Electronics’ credit outlook to “BBB Positive” from “BBB Stable,” the company’s first improvement since October 2022. The ratings agency cited robust performances in LG’s home appliance and vehicle component businesses, stronger cash flow from its Indian initial public offering, and a rebound at its affiliate, LG Display. The move came months after Moody&rsquo October 22, 2025

Red-hot streak of Korean chip stocks spills over to downstream suppliers SEOUL, October 21 (AJP) - South Korea’s semiconductor rally shows no sign of slowing, as record gains by memory giants ripple through the broader chip value chain, drawing in downstream suppliers and equipment makers amid growing concerns over a looming memory shortage in the AI era. Memory bellwethers Samsung Electronics and SK hynix both came close to symbolic six-digit milestones—100,000 won and 500,000 won, respectively. Samsung Electronics closed Tuesday 0.4 percent l October 21, 2025

Samsung fields stronger in-house chip-powered Galaxy to counter AI iPhone hype SEOUL, October 21 (AJP) - Samsung Electronics is equipping half of its upcoming Galaxy S26 lineup with its upgraded in-house processor, the Exynos 2600, to counter rising expectations for Apple’s AI-powered iPhone 17 series and to showcase renewed confidence in its AI chipset design and manufacturing capabilities. The tech giant said the new Exynos delivers more than six times the neural processing power of Apple’s latest A-series chip. The move marks the first time in October 21, 2025

Asian markets rally, KOSPI the world's best performer led by chip boom SEOUL, October 21 (AJP) - Major Asian stock markets closed mostly higher on Tuesday amid easing global trade tensions and improved investor sentiment, while South Korea’s benchmark index stood out as the world’s best performer of the month. In Seoul, the KOSPI closed at a fresh record of 3,814.69, up 1.76 percent from the previous session. The secondary KOSDAQ gained 1.89 percent to close at 875.77. Institutional investors drove the rally with strong buying despite conti October 21, 2025

Korean defense firms join forces to boost KF-21 fighter jet exports SEOUL, October 21 (AJP) - Korea Aerospace Industries (KAI) said Tuesday it had signed a memorandum of understanding with Hanwha Aerospace, Hanwha Systems, and LIG Nex1 to strengthen the export competitiveness of the KF-21 fighter jet, the country’s 4.5-generation aircraft. Under the agreement, the companies will cooperate to reduce production costs, stabilize supply chains, and jointly market the aircraft overseas. The collaboration also includes sharing technology and mar October 21, 2025

Naver, Kakao to deliver stronger Q3 as they bet on AI to defend Korean turf SEOUL, October 21 (AJP) - South Korea's leading platform operators Naver and Kakao are expected to post improved third-quarter earnings as they double down on artificial intelligence initiatives to defend their home market from global AI giants. Naver is embedding AI across its search, commerce and fintech operations, while Kakao is weaving the technology into its messenger, content and advertising services to boost data-driven profitability. The two are taking distinct appro October 21, 2025

Kia opens assembly plant in Kazakhstan to boost Central Asia presence SEOUL, October 21 (AJP) - Kia said on Tuesday that it has opened a new automobile assembly plant in Kostanay, Kazakhstan. Built with an investment of about $310 million, the facility spans 630,000 square meters and can produce up to 70,000 vehicles annually. The plant has begun assembling the Sorento SUV and plans to add production of the Sportage model in 2026. Kia said the new plant would serve as a hub for meeting rising regional demand and advancing localization efforts i October 21, 2025

South Korea's finance chief urges focus on AI transition at APEC ministers' meeting SEOUL, October 21 (AJP) - South Korea’s Finance Minister, Koo Yun-cheol, called on Asia-Pacific nations on Tuesday to channel resources into artificial intelligence as a key driver of economic growth, urging policymakers to foster innovation and strengthen private-sector participation. “In the era of AI transformation, we must create an innovation-friendly environment and support the private sector,” Koo said at the opening of the Asia-Pacific Economic Cooper October 21, 2025