Industry

  • Food, restaurant chains raise delivery prices despite lower app fees
    Food, restaurant chains raise delivery prices despite lower app fees SEOUL, March 18 (AJP) - A growing number of South Korean restaurants are charging higher prices for delivery orders than for in-store purchases, despite recent changes in commission rates by major food delivery platforms. Industry sources said Tuesday that several major chains, including Ediya Coffee, Mom's Touch, and Gupne Chicken, have adopted dual pricing structures for delivery orders. Ediya Coffee, which operates approximately 3,000 stores nationwide, announced that st March 18, 2025
  • Koreas pavilion nears completion for Osaka Expo
    Korea's pavilion nears completion for Osaka Expo SEOUL, March 18 (AJP) - A delegation from the Korea Trade-Investment Promotion Agency (KOTRA), led by its chief executive, Kang Kyung-sung, has visited the site of Expo 2025 in Osaka, Japan, to assess preparations for the Korean Pavilion. Expo 2025, which will take place from April 13 to October 13 on the artificial island of Yumeshima in western Osaka, is set to explore the theme "Designing Future Society for Our Lives." South Korea’s Ministry of Trade, Industry March 18, 2025
  • Memory chip market shows signs of recovery
    Memory chip market shows signs of recovery SEOUL, March 18 (AJP) - The global memory semiconductor market is exhibiting signs of a long-awaited recovery, as industry forecasts indicate a reversal in price trends for DRAM and NAND flash chips. Analysts suggest that Samsung Electronics, after enduring a prolonged downturn, may experience an earlier-than-expected resurgence. According to TrendForce, a market research firm, the first-quarter price forecast for PC DRAM, specifically DDR5 16Gb chips, has been revised upward f March 18, 2025
  • South Korea, US to begin talks on Alaska LNG project
    South Korea, US to begin talks on Alaska LNG project SEOUL, March 18 (AJP) - South Korean Minister of Trade, Industry and Energy Ahn Duk-geun is set to meet with Alaska Governor Mike Dunleavy next week to explore potential South Korean investment in a large-scale liquefied natural gas (LNG) project backed by the Trump administration. Dunleavy is expected to visit South Korea between March 24 and 25 as part of efforts to attract investment in the Alaska LNG development project, which has gained prominence in U.S.-South Korea trade and March 18, 2025
  • Hanwha Ocean lands $1.61 billion order for container ships
    Hanwha Ocean lands $1.61 billion order for container ships SEOUL, March 18 (AJP) - South Korean shipbuilder Hanwha Ocean has secured a contract to construct six ultra-large container vessels for Taiwan’s Evergreen Marine, one of the world’s leading shipping companies. The deal, valued at 2.33 trillion won (approximately $1.61 billion), marks the highest price ever paid for container ships of this class, capable of carrying 24,000 twenty-foot equivalent units (TEUs). The vessels will be dual-fuel, designed to operate on both l March 18, 2025
  • Korea leads global patent race in hair loss cosmetics
    Korea leads global patent race in hair loss cosmetics SEOUL, March 17 (AJP) - South Korea has emerged as the world leader in hair loss cosmetics patent applications, according to an analysis released Monday by the Korean Intellectual Property Office (KIPO). The study, which examined patent filings across major intellectual property offices over the past 22 years, found that South Korean entities accounted for 42.9 percent — 576 cases — of global applications, far surpassing Japan’s 20.2 percent (272 cases) and the Uni March 17, 2025
  • Lee Jae-yong urges focus on technology, saying Samsung faces life-or-death crisis
    Lee Jae-yong urges focus on technology, saying Samsung faces 'life-or-death' crisis SEOUL, March 17 (AJP) - Samsung Electronics Chairman Lee Jae-yong has called on the company’s executives to tackle mounting internal and external challenges, warning that the firm faces a “life-or-death survival problem." Lee delivered this message via a video presentation at a forum attended by approximately 2,000 executives across Samsung affiliates. The chairman underscored the necessity of introspection among the leadership, urging them to prioritize long-term March 17, 2025
  • Fashion brands open cafes in Seouls prime shopping districts
    Fashion brands open cafes in Seoul's prime shopping districts SEOUL, March 17 (AJP) - Spanish fashion firm Zara is set to debut its in-house cafe brand, Zacaffe, at its Myeong-dong store in Seoul this May, according to industry sources. The venture marks the retailer's third global location following openings in Madrid last November and Nanjing, China. The cafe will offer coffee, desserts, and a selection of branded merchandise, including tumblers, hats, eco-bags, and t-shirts. Zara joins a growing list of fashion brands leveraging th March 17, 2025
  • Korean firm to supply high-voltage cables to UKs National Grid
    Korean firm to supply high-voltage cables to UK's National Grid SEOUL, March 17 (AJP) - South Korea's Taihan Cable & Solution has signed a agreement with Britain’s National Grid to supply high-voltage direct current (HVDC) cable systems. The agreement, finalized in February, grants Taihan eligibility to bid on National Grid’s HVDC cable system projects over a period that could extend up to eight years. The total project value is estimated at approximately 40 trillion won ($27.5 billion). National Grid, a British multinatio March 17, 2025
  • LG, Samsung refrigerators top US Consumer Reports ratings
    LG, Samsung refrigerators top US Consumer Reports ratings SEOUL, March 17 (AJP) - LG Electronics and Samsung Electronics have secured top spots in Consumer Reports’ latest ranking of top-freezer refrigerators for 2025. The two South Korean firms dominated the list, with LG models claiming the top position in both the 30-inch and 33-inch categories. In the 21- to 28-inch category, Samsung took first place, while LG followed closely in second. Consumer Reports conducted extensive testing, placing temperature sensors inside the ref March 17, 2025