Industry

  • GS charts new course with digital pivot, generational shift
    GS charts new course with digital pivot, generational shift Editor's Note: This article is the 19th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, May 21 (AJP) - As it marks its 20th anniversary this year, GS Group — one of South Korea’s largest conglomerates — is doubling down on digital transformation in a bid to reverse slowing growth and streamline operations in an increasingly volatile ec May 22, 2025
  • LG Electronics inks deal to supply commercial washing machines in US, Canada
    LG Electronics inks deal to supply commercial washing machines in US, Canada SEOUL, May 21 (AJP) - LG Electronics has signed a supply agreement with CSC ServiceWorks, North America’s largest provider of laundry solutions, marking a strategic move to expand its business-to-business home appliance operations in the region. The deal was formalized at a recent signing ceremony attended by Kim Sang-yong, executive vice president of LG Electronics USA’s Home & Life Solutions division, and Rodrigo Castellanos, chief executive of CSC ServiceWorks. Fi May 21, 2025
  • K-beauty festival draws crowds to Seouls Nodeul Island
    K-beauty festival draws crowds to Seoul's Nodeul Island SEOUL, May 21 (AJP) - South Korea’s largest celebration of K-beauty opened Wednesday at Nodeul Island in Seoul, as CJ Olive Young launched its annual Olive Young Festa, showcasing 108 brands across 84 booths in a sprawling five-day outdoor festival. Now in its latest iteration, the 2025 Olive Young Festa represents a significant expansion of the event, which has traditionally been held indoors. "This is more than a beauty exhibition — it’s a space for con May 21, 2025
  • CJ CheilJedang showcases Korean cuisine at National Restaurant Association Show
    CJ CheilJedang showcases Korean cuisine at National Restaurant Association Show SEOUL, May 21 (AJP) - CJ CheilJedang, one of South Korea’s leading food manufacturers, showcased its signature Korean culinary products at the 2025 National Restaurant Association Show, held May 17–20. The 106th iteration of the world’s largest foodservice exhibition drew approximately 50,000 attendees and featured 2,225 companies across 900 product categories, serving as a global stage for emerging trends and innovations in the food industry. CJ CheilJedang ope May 21, 2025
  • FDA conducts inspection of Samsung Biologics production facilities
    FDA conducts inspection of Samsung Biologics production facilities SEOUL, May 21 (AJP) - Inspectors from the U.S. Food and Drug Administration have begun a formal inspection of Samsung Biologics’ production facilities in Songdo, Incheon, according to industry sources, Wednesday. The inspection, which commenced on Monday and is scheduled to run through May 27, is focused on evaluating the company’s manufacturing processes. FDA officials visited Plants 3 and 4 on Tuesday, conducting what sources described as an "unusually detailed May 21, 2025
  • Amorepacifics Hera expands custom makeup service as international demand soars
    Amorepacific's Hera expands custom makeup service as international demand soars SEOUL, May 20 (AJP) - Hera, a contemporary beauty brand under South Korea’s Amorepacific, is expanding its personalized cosmetics offering as international demand for bespoke makeup continues to surge. The brand’s popular Custom Match program will now include its flagship Black Cushion foundation, offering hundreds of shade variations tailored to individual skin tones. Launched as a reservation-based service for custom lipsticks and foundation, Custom Match has seen a May 20, 2025
  • Nvidia pledges AI supercomputer for Taiwan as Computex 2025 opens
    Nvidia pledges AI supercomputer for Taiwan as Computex 2025 opens SEOUL, May 20 (AJP) - Asia’s largest information technology trade show, Computex 2025, opened Tuesday with more than 1,400 companies from around the world unveiling their latest innovations, underscoring the central role of artificial intelligence in the industry’s future. The exhibition kicked off with momentum following a keynote speech on Monday by Jensen Huang, chief executive of Nvidia, who announced plans to build Taiwan’s first large-scale artificial intelli May 20, 2025
  • Musinsa sees sharp rise in foreign sales at stores after enhancing tourist services
    Musinsa sees sharp rise in foreign sales at stores after enhancing tourist services SEOUL, May 20 (AJP) - Korean fashion brand Musinsa Standard reported a sharp rise in sales from foreign customers at its Seoul stores, following the rollout of services tailored to international tourists. According to the company, Tuesday, the Hannam branch saw foreign customer sales increase more than threefold in April compared to February, when the new services were introduced. Across five major locations — Gangnam, Myeongdong, Seongsu, Hannam, and Hongdae — sale May 20, 2025
  • Lotte Department Store to host global retail forum next month
    Lotte Department Store to host global retail forum next month SEOUL, May 20 (AJP) - Lotte Department Store will co-host the World Department Store Summit (WDSS) in Seoul next month, marking the first time the global retail conference is held in South Korea, the company announced on Tuesday. The two-day event, set for June 11 and 12 at the Lotte Hotel Seoul, will bring together senior executives from more than 20 department store groups across 10 countries. This year’s theme, “How to Best Captivate Customers,” will explore str May 20, 2025
  • Won-based digital currency becomes hot topic in presidential race
    Won-based digital currency becomes hot topic in presidential race SEOUL, May 20 (AJP) - Stablecoins have become an unexpected battleground in South Korea’s presidential election, as major candidates debate the merits and risks of introducing a won-based digital currency. While proponents frame the move as a way to bolster national financial sovereignty, critics warn of regulatory gaps and potential misuse. The opposition Democratic Party (DP), led by presidential contender Lee Jae-myung, has proposed the issuance of a stablecoin backed by May 20, 2025