Industry

  • Weak won squeezes Korean airliners, KALs profit to fall by double digits
    Weak won squeezes Korean airliners, KAL's profit to fall by double digits Weak won squeezes South Korea’s airlines, with Korean Air the lone profit holdout SEOUL, December 29 (AJP) -The Korean won, averaging its weakest level on record this year, has eaten into profitability across South Korea’s airline industry by driving up U.S. dollar-denominated costs for aircraft leases and fuel. According to financial data provider FnGuide, Korean Air’s consolidated operating profit for the year is estimated at 1.40 trillion won ($1.05 billion December 29, 2025
  • Coupang founder apologizes for data breach as government weighs suspension
    Coupang founder apologizes for data breach as government weighs suspension SEOUL, December 28 (AJP) - Kim Bom-suk, the founder of South Korean e-commerce giant Coupang, released a public apology Sunday regarding a massive data breach, acknowledging the company's failure to communicate promptly with affected users. The statement comes a month after the leak was discovered and amid intensifying scrutiny from regulators, who have signaled that the company could face severe penalties, including a potential suspension of operations. In a statement release December 28, 2025
  • South Korean shipbuilders regain 20 percent market share despite global slump
    South Korean shipbuilders regain 20 percent market share despite global slump SEOUL, December 28 (AJP) - South Korean shipbuilders have successfully defended their order books this year, regaining a 20 percent global market share despite a sharp downturn in worldwide vessel orders, industry data showed Sunday. South Korea currently stands as one of the world's two dominant shipbuilding nations, locked in a fierce rivalry with China. While China often leads in sheer volume, South Korea has carved out a stronghold in the market for high-value, high-tech December 28, 2025
  • Franchise chicken stores top 30,000 in South Korea as major brands dominate
    Franchise chicken stores top 30,000 in South Korea as major brands dominate SEOUL, December 28 (AJP) - The number of franchise fried chicken stores in South Korea has surpassed 30,000 for the first time, the National Data Agency said Sunday, driven by the expansion of major chains even as independent shops struggle to survive. In South Korea, fried chicken is more than just fast food. It is a cultural staple comparable to pizza in the United States. The combination of chicken and beer, known locally as "chimaek," is a ritual for sporting events December 28, 2025
  • Mergers, pricing wars and tighter rules reshape South Koreas content industry in 2025
    Mergers, pricing wars and tighter rules reshape South Korea's content industry in 2025 SEOUL, December 27 (AJP) - Consolidation trumped expansion as the dominant narrative across South Korea's gaming, streaming and webtoon sectors this year, as domestic platforms merged to survive, regulators tightened oversight and companies raced to secure global distribution deals. Streaming services combined subscriber bases while freezing prices under regulatory pressure. Webtoon publishers transformed anti-piracy operations from cost centers into strategic advantages. And ga December 27, 2025
  • Coupang shares jump 6% in New York after company releases probe findings on data leak
    Coupang shares jump 6% in New York after company releases probe findings on data leak SEOUL, December 27 (AJP) - Coupang shares rose on the New York Stock Exchange (NYSE) on Friday (local time), the first trading day after the company released its own findings on a major personal data leak. Coupang Inc., the parent company of the e-commerce firm, closed up 6.45 percent at $24.27 on the NYSE. U.S. markets were closed the previous day for Christmas, making Friday the first session after the announcement. Coupang said in a news release on Thursday that it had ide December 27, 2025
  • LG Energy Solution hit by $9 bn deal loss this month as FBPS scraps $3 bn contract
    LG Energy Solution hit by $9 bn deal loss this month as FBPS scraps $3 bn contract SEOUL, December 26 (AJP) -LG Energy Solution (LGES) has terminated a 3.9 trillion won ($2.7 billion) battery supply contract with Freudenberg Battery Power Systems (FBPS), marking a second major cancellation in quick succession as the Korean battery maker grapples with a slowdown in the global electric-vehicle market. In a regulatory filing Friday, the South Korean battery maker said it mutually agreed with FBPS to end the contract after the U.S.-based company decided to withdraw fr December 26, 2025
  • Koreas No.2 retailer Shinsegae loses data on 80,000 employees and subcontractors
    Korea's No.2 retailer Shinsegae loses data on 80,000 employees and subcontractors SEOUL, December 26 (AJP) -Shinsegae Group has become another South Korean major retailer to report data breach involving 80,000 employees and workers at partner companies, although no customer data was compromised. Shinsegae I&C, the group’s information technology arm, said Friday it had detected signs of unauthorized access to its internal intranet and confirmed that employee-related data had been leaked. The exposed information includes corporate ID numbers, name December 26, 2025
  • Mirae Asset Securities prepares to launch omnibus accounts for foreign investors
    Mirae Asset Securities prepares to launch omnibus accounts for foreign investors SEOUL, December 26 (AJP) - Mirae Asset Securities is preparing to introduce omnibus accounts that would allow foreign investors to trade South Korean stocks without opening local brokerage accounts, according to industry sources. The securities firm is developing systems and updating contract documents while working with overseas affiliates in the United States and Europe to prepare for account openings and service launches, industry officials said Friday. Omnibus accounts enable December 26, 2025
  • KAI signs $69 million deal to upgrade Philippines FA-50PH jets
    KAI signs $69 million deal to upgrade Philippines' FA-50PH jets SEOUL, December 26 (AJP) - Korea Aerospace Industries (KAI) signed a contract with the Philippines on Friday to upgrade 11 FA-50PH fighter jets for about 93 billion won ($65 million). The deal includes aircraft performance upgrades and follow-on logistics support for jets delivered between 2015 and 2017, with work to be completed by 2029, the South Korean aircraft manufacturer said. The upgrade will strengthen the FA-50PH's ability to operate precision-guided weapons, exten December 26, 2025