Foreign home purchases fall to 32-month low in S. Korea after new restrictions SEOUL, November 03 (AJP) - Purchases of residential properties by foreigners in the Seoul metropolitan area fell to their lowest level in nearly three years last month, following the government’s introduction of tighter restrictions on foreign real estate transactions. According to data from the court, 560 foreigners completed ownership transfers for homes in Seoul, Gyeonggi Province and Incheon in October — the fewest since February 2023, when only 427 transaction November 3, 2025

Celltrion wins Irish approval for purchase of Eli Lilly plant in New Jersey SEOUL, November 03 (AJP) - South Korean biopharmaceutical company Celltrion said Monday that it has received approval from the Irish government for its planned acquisition of Eli Lilly’s manufacturing facility in the United States, leaving only U.S. regulatory clearance before the deal can close. The Competition and Consumer Protection Commission of Ireland granted final approval for the purchase on Oct. 31, according to Celltrion. The deal requires the review under Irish November 3, 2025

Samsung C&T wins $1.4 billion carbon capture contract in Qatar SEOUL, November 03 (AJP) - Samsung C&T’s construction division has won a $1.4 billion contract to build one of the world’s largest carbon compression and transport facilities in Qatar. The contract, valued at 1.91 trillion won, was awarded by QatarEnergy LNG, the state-run liquefied natural gas producer, and covers engineering, procurement and construction for the project. The new facility will be built about 80 kilometers north of Doha, in Ras Laffan Indust November 3, 2025

Red-hot chip streak bolsters KOSPI as other Asian markets stay muted SEOUL, November 03 (AJP) - South Korea’s benchmark KOSPI extended its record-setting rally on Monday, far outperforming other Asian markets as optimism from the APEC week—marked by Nvidia-linked momentum, eased U.S. tariffs, and expectations of China lifting its unofficial ban on Korean content—kept risk appetite high. The KOSPI rose 1.9 percent to 4,183.52 in early trading, while the KOSDAQ gained 1 percent to 909.09. SK hynix briefly touched 600,000 won ($419) November 3, 2025

UPDATE: Hanwha Aero and Hyundai Rotem show off K-defense muscles in Q3 SEOUL, November 03 (AJP) - South Korean weapons makers kept up their record-setting earnings streak in the third quarter, powered by solid demand for Korean defense systems known for proven technology and rapid delivery. Hanwha Aerospace posted its strongest third-quarter performance on record, lifted by robust exports and solid contributions from subsidiary Hanwha Ocean — underscoring the group’s growing dominance across Korea’s expanding defense-industrial value November 3, 2025

Hyundai Motor to cooperate with Singapore for development of hydrogen, low-carbon technologies SEOUL, November 03 (AJP) - Hyundai Motor Group has signed a memorandum of understanding with Singapore’s Economic Development Board to cooperate on the development of hydrogen and low-carbon technologies. Under the agreement, Hyundai will use its experience in fuel cell and hydrogen infrastructure to help Singapore identify and develop opportunities in hydrogen-based, low-carbon technologies. The EDB, a government agency under Singapore’s Ministry of Trade and Ind November 3, 2025

HD Hyundai Heavy to develop submarines for Peruvian Navy SEOUL, November 03 (AJP) - South Korea's HD Hyundai Heavy Industries has signed a letter of intent with Peru’s state-run SIMA shipyard to jointly develop a new class of submarines for the Peruvian Navy, in what could become one of its most significant defense export ventures in Latin America. The agreement, announced Monday, builds on a series of accords between the two countries over the past year. It follows a memorandum of understanding signed at the APEC summit in November 3, 2025

CJ Olive Young, riding K-beauty wave, becomes must-visit stop for foreign tourists SEOUL, November 03 (AJP) - At the Olive Young flagship store in Myeongdong, the aisles are crowded not just with locals but with visitors from Tokyo, Bangkok and Los Angeles, filling baskets with sheet masks, toners and serums. What began as a domestic health and beauty chain has quietly become one of South Korea’s most popular tourist destinations — and a symbol of how K-beauty has gone global. From Seoul’s bustling shopping districts of Myeongdong, Hongdae a November 3, 2025

SK hynix to become biggest supercycle winner and overtake TSMC in chip profit by 2027: Nomura SEOUL, November 02 (AJP) - SK hynix can outshine dominant pure-play foundry Taiwan Semiconductor Manufacturing Co. (TSMC) in income from chip sales by 2027, placing the South Korean leader in AI memory the biggest winner of the chip "super cycle" that is expected to run at least two more years, according to Japanese investment bank Nomura Securities. SK hynix has already been stellar among memory makers, reporting a record operating profit of $8 billion in the third quar November 2, 2025

Korea's Oct exports hit record high for the month, extends 5-mo growth streak SEOUL, November 02 (AJP) - South Korea’s exports extended their growth streak for the fifth consecutive month, rising 3.5 percent on year to $59.57 billion in October – the highest ever for the month – despite fewer working days from the Chuseok holiday thanks to record chip and robust vessel shipments. According to data released Saturday by the Ministry of Trade, Industry and Resources, the trade account posted a $6.06 billion surplus as imports fell 1.5 percent November 2, 2025