Hyosung Heavy secures $150 million US power grid contract SEOUL, September 19 (AJP) - Hyosung Heavy Industries, a South Korean power equipment maker, said Friday it has secured a $150 million contract to supply ultra–high-voltage transformers and circuit breakers to a U.S. firm. The deal will provide a package of 765-kilovolt transformers, reactors and 800-kilovolt circuit breakers. It is the first time a Korean company has delivered a complete solution for America’s 765-kilovolt transmission network — the backbone of September 19, 2025

Hyundai Motor CEO calls for Korea-US deal on auto tariffs SEOUL, September 19 (AJP) - Hyundai Motor’s chief executive warned that stalled U.S.-South Korea trade talks on auto tariffs are threatening the company’s competitiveness in its most important overseas market, even as rival Japan secured a more favorable deal with Washington. Speaking at Hyundai’s first overseas investor day in New York on Thursday (local time), Jose Munoz said the company’s current financial outlook assumes a 25 percent U.S. tariff on im September 19, 2025

Hyundai Rotem opens first rail component plant in US SEOUL, September 19 (AJP) - South Korean rail manufacturer Hyundai Rotem has opened its first American production facility, a move aimed at aligning with Washington’s push to localize infrastructure supply chains. The 8,500-square-meter plant, called Hyundai Rotem Smart Electric America, officially opened on Wednesday (local time) in Riverside, east of Los Angeles, the company said Friday. Demand for rail infrastructure in Southern California is likely to surge ahead of September 19, 2025

Seoul opts for promotion-first and regulation-later approach on AI deployment SEOUL, September 18 (AJP) - South Korea has chosen a middle path between Europe’s strict rules and U.S.’s hands-off stance in global race to govern artificial intelligence. The Ministry of Science and ICT this week detailed the criteria for high-impact AI systems pertinent to the Act on the Development of Artificial Intelligence and Establishment of Trust" dubbed as the AI Basic Act due to take effect next January. Seoul will be the second jurisdiction after th September 18, 2025

The sky's the limit for K-ramyeon riding on Demon Hunters craze SEOUL, September 18 (AJP) - The challenge of slurping fiery-hot ramyeon is nothing new. But when a chart-topping K-pop trio does it in a Netflix hit that becomes the platform's most-watched animated film, the sales surge – and stock rally – for Korean snack makers can be staggering. Instant noodle giant Nongshim, featured as a motif in "KPop Demon Hunters," closed Thursday at 481,500 won ($347), up 24.6 percent from a year ago. Nearly 30 percent of that j September 18, 2025

KB Financial pivots to artificial intelligence to lead Asian banking Editor's Note: This article is the 36th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, September 18 (AJP) - South Korea’s largest financial group is making a high-stakes wager on artificial intelligence, betting that the technology will reshape the future of banking in Asia and cement its dominance in the region’s fast-changing financial September 18, 2025

Korea's drug crisis spikes, treatment gap widens SEOUL, September 18 (AJP) - South Korea, once hailed as drug-free, is confronting a fast-rising drug crisis with young adults most affected and treatment systems lagging to raise long-term public health concerns. From January through August, authorities confiscated 2,810 kilograms of illegal drugs — 3.5 times the 787 kilograms seized in all of 2024, Democratic Party lawmaker Chung Il-young said Thursday, citing data from the Korea Customs Service. The haul, equivalent to a September 18, 2025

Samsung Electronics will receive $250 million grant from Texas SEOUL, September 18 (AJP) - Samsung Electronics will receive a $250 million grant from the state of Texas to support its semiconductor expansion, Governor Greg Abbott announced Wednesday (local time). The funds, allocated from the Texas Semiconductor Innovation Fund, are separate from the $4.7 billion in federal aid Samsung secured last year under the CHIPS Act. The new grant was announced after Abbott met with Kyung Kye-hyun, Samsung’s vice chairman, in Austin on Sept. September 18, 2025

Lotte Card data breach exposes information of nearly 3 million customers SEOUL, September 18 (AJP) - South Korea’s Lotte Card said Thursday that nearly one-third of its customers were affected by a major data breach stemming from a hacking attack in August. At a press conference in Seoul, CEO Cho Jwa-jin confirmed that the personal information of 2.97 million members was compromised in the Aug. 14 incident. “We sincerely apologize to our customers and relevant authorities for causing great concern,” Cho said. The leaked data was ti September 18, 2025

Senior Ukrainian officials visit HD Hyundai for post-war reconstruction talks SEOUL, September 18 (AJP) - A delegation of top Ukrainian government officials visited HD Hyundai's facilities this week to advance collaboration on post-war reconstruction, the company said Thursday. The visit was part of a larger construction machinery training program for Ukrainian officials organized by the Korea Construction Equipment Manufacturers Association and the Korea Construction Equipment Technology Institute. The delegation included key figures like Deputy M September 18, 2025