Korea Zinc emerges as key player in global battle for critical minerals Editor's Note: This article is the 33rd installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, August 27 (AJP) - As Washington scrambles to secure supplies of critical minerals, a South Korean metals giant has emerged as an unlikely player in the great-power contest — and a target of boardroom intrigue at home. Korea Zinc, the world’s largest n August 28, 2025

Hyundai consolidates shipbuilding units as US defense ties deepen SEOUL, August 27 (AJP) - HD Hyundai Heavy Industries and HD Hyundai Mipo Dockyard said Wednesday they would merge by the end of the year, creating South Korea’s largest shipbuilder as the country seeks to expand its role in global naval modernization and deepen cooperation with the United States. The boards of both firms and their parent company, HD Korea Shipbuilding & Offshore Engineering, approved the consolidation, which will fold Mipo into Hyundai Heavy. Shareholders August 27, 2025

Regulators raid MBK Partners in expanding Homeplus probe SEOUL, August 27 (AJP) - South Korean financial regulators raided the Seoul headquarters of MBK Partners on Wednesday, intensifying a long-running inquiry into the private equity firm’s role in the financial troubles of Homeplus, one of the country’s largest discount retailers. Dozens of inspectors from the Financial Services Commission and the Financial Supervisory Service were dispatched to MBK’s Gwanghwamun office, officials said, as part of a joint probe into August 27, 2025

More babies born outside marriage in S. Korea, reflecting possible shifts in family norms SEOUL, August 27 (AJP) - South Korea recorded its highest proportion of children born outside marriage in 2024, reflecting a rapid shift in family structures in a country long defined by rigid norms around marriage and childbearing. About 13,800 babies — 5.8 percent of all births last year — were born to unmarried parents, according to data released Wednesday by Statistics Korea. While the share remains small compared with Western nations, it marks a sharp increase fr August 27, 2025

Gwangju seeks to host national AI computing center SEOUL, August 27 (AJP) - The city of Gwangju plans to launch a committee to host South Korea’s next national artificial intelligence computing center, a project that local officials hope will anchor the city’s ambitions to become the country’s premier AI hub. On Sept. 1, the city will hold a launch ceremony for the committee, a coalition spanning lawmakers, business groups, academics, media, religious figures and civil society organizations. The body is tasked wi August 27, 2025

In Philadelphia, Korean-owned shipyard becomes symbol of renewed US maritime ambitions SEOUL, August 27 (AJP) - The clang of steel and the whistle of cranes at Hanwha Philly Shipyard carried more than the sound of shipbuilding on Tuesday (local time). For South Korea’s president Lee Jae Myung, the sprawling yard on the banks of the Delaware River has become a stage for something larger: a deepening partnership between Seoul and Washington that is being forged in steel, jobs and ships. Standing before a crowd of shipyard workers, state officials and Korean exe August 27, 2025

[K-Defense] S. Korean shipbuilders shortlisted for Canada's $14 billion submarine program SEOUL, August 27 (AJP) - A consortium led by South Korea’s two largest shipbuilders, Hanwha Ocean and HD Hyundai Heavy Industries, has been shortlisted to compete in Canada’s next-generation submarine acquisition program. This is a $14 billion defense project that could eventually swell to $43 billion over three decades when long-term maintenance and upgrades are included. Industry officials confirmed Wednesday that the two companies, bidding as a consortium, were s August 27, 2025

South Korea to introduce fast-track immigration lanes for foreign executives SEOUL, August 26 (AJP) - South Korea will open expedited immigration lanes for foreign business executives at Incheon International Airport starting Aug. 31, in a pilot program aimed at strengthening the country’s appeal as a regional business hub. The lanes, which will operate through December, are intended to shorten wait times for foreign travelers using staffed immigration counters, the Ministry of Land, Infrastructure and Transport said Tuesday. On average, foreigners August 26, 2025

South Korean, US firms sign wide-ranging deals during Lee's Washington visit SEOUL, August 26 (AJP) - South Korean and American companies signed 11 agreements and memorandums of understanding across shipbuilding, nuclear energy, aviation, liquefied natural gas and critical minerals during President Lee Jae Myung’s visit to Washington. The agreements were announced at a Korea–U.S. Business Roundtable on Monday at Washington D.C. (local time), attended by South Korea’s Trade Minister, Kim Jung-kwan, and U.S. Commerce Secretary Howard Lutnic August 26, 2025

South Korean consumer confidence reaches 8-year high SEOUL, August 26 (AJP) - South Korean consumer confidence rose in August to its highest level in nearly eight years, buoyed by stronger household spending and robust exports, according to central bank data released Tuesday. The Bank of Korea’s Composite Consumer Sentiment Index edged up to 111.4 in August from 110.8 the previous month, the fifth straight monthly gain. The reading was the highest since January 2018, when the index stood at 111.6. A score above 100 signals op August 26, 2025