Industry

  • Korea Zinc clears legal hurdle for $7.4 billion U.S. smelter project
    Korea Zinc clears legal hurdle for $7.4 billion U.S. smelter project SEOUL, December 24 (AJP) - A South Korean court on Wednesday dismissed an injunction filed by Young Poong Group and MBK Partners seeking to block Korea Zinc's landmark investment deal with the U.S. government, paving the way for the world's largest non-ferrous metal smelter to proceed with a $7.4 billion refinery project in Tennessee. The Seoul Central District Court rejected the plaintiffs' request to halt a third-party share allocation that would give the U.S. governme December 24, 2025
  • Kimchi loses ground at home to cheaper Chinese imports, British daily says
    Kimchi loses ground at home to cheaper Chinese imports, British daily says SEOUL, December 24 (AJP) - South Korea's staple dish, kimchi, is losing ground on price, fueling a surge in imports of Chinese-made kimchi, the Guardian reported earlier this week. The British daily on Monday said, "South Korea imports more kimchi than it exports, and the gap has widened as cheaper Chinese-made products take hold in the domestic market." Figures from the Korea Customs Service show this trend, with kimchi imports totaling US$159.46 million during the December 24, 2025
  • Hate it or not, Coupang remains indispensable to Korean consumers — for now
    Hate it or not, Coupang remains indispensable to Korean consumers — for now SEOUL, December 24 (AJP) - Coupang is facing intensifying scrutiny from regulators in South Korea and the United States, alongside a growing list of civil and class-action lawsuits. Yet despite mounting criticism over its handling of a massive data breach, the e-commerce group remains deeply embedded in daily life for Korean consumers — from shopping and food delivery to streaming. This week, the South Korean government launched an inter-agency task force to investigate what o December 24, 2025
  • Samsung contains brief smoke incident at Hwaseong plant; no injuries, no production impact
    Samsung contains brief smoke incident at Hwaseong plant; no injuries, no production impact SEOUL, December 24 (AJP) - A brief smoke incident was quickly contained at Samsung Electronics’ Hwaseong plant on Wednesday, with no injuries or impact on production, the company said. Local fire authorities received a report at 10:01 a.m. that smoke was detected in a research building, caused by carbonization in a pump unit. Samsung’s onsite emergency team extinguished the source within about 10 minutes before firefighters arrived. Around 120 employees evacuated in December 24, 2025
  • Koreas Hyundai Motor elevates engineers to C-suite
    Korea's Hyundai Motor elevates engineers to C-suite SEOUL, December 24 (AJP) - South Korea's Hyundai Motor Group on Wednesday carried out a reshuffle underlying its renewed focus and command over software-defined mobility capabilities. Jin Eun-sook, Vice President of the ICT Division, was promoted to President to become the first female president in the history of Hyundai Motor Company and the third female leader within the broader group, joining the ranks of top executives at Hyundai Commercial and Innocean. Jin, h December 24, 2025
  • Customs watchdog releases list of agricultural products exempt from US tariffs
    Customs watchdog releases list of agricultural products exempt from US tariffs SEOUL, December 24 (AJP) - South Koreans will be able to check which goods are exempt from the country's recently concluded reciprocal tariffs with the U.S., the Korea Customs Service (KCS) said on Wednesday. The KCS said it compiled the list of some 248 agricultural products including coffee, tea, and fruits, which have been exempt from the reciprocal tariffs after the White House issued an executive order exempting them effective from Nov. 13. Those exempt also include seas December 24, 2025
  • S. Koreas new regional carrier SUM Air to take off next year
    S. Korea's new regional carrier SUM Air to take off next year SEOUL, December 24 (AJP) - SUM Air, South Korea's new regional air mobility (RAM) carrier, is set to take off from France to Seoul on the last day of this year. Founded in 2022, the carrier plans to operate domestic routes as well as short-haul international routes to nearby destinations such as Japan and China within two hours of flight time. SUM means "island" in Korean, and the carrier plans to connect cities and islands, including Ulleung, Heuksan, and Baengnyeo December 24, 2025
  • Koreas consumer confidence dips as weak won fuels inflation fears
    Korea's consumer confidence dips as weak won fuels inflation fears SEOUL, December 24 (AJP) - South Korea’s consumer confidence fell in December as inflationary expectations rose amid persistent weakness in the won, survey data showed Wednesday. The composite consumer sentiment index (CCSI) for December dropped 2.5 points from November to 109.9, according to the Bank of Korea. While a reading above 100 indicates that optimism outweighs pessimism, several subindices pointed to growing household anxiety over economic con December 24, 2025
  • Lotus transforms Seoul showroom into immersive art gallery
    Lotus transforms Seoul showroom into immersive art gallery SEOUL, December 24 (AJP) - Lotus Cars Korea finished its art collaboration event at its flagship showroom in Seoul's upscale Gangnam district on Wednesday, merging contemporary Japanese art with high-end automotive design. The event, held from Dec. 21, drew guests from fashion, design, automotive and lifestyle sectors. London and Seoul-based creative directing teams Nazferatu and Aube Arte orchestrated the showcase. Japanese contemporary artist Ryota Daimon headlined the even December 24, 2025
  • Fuel tax cuts extended until February
    Fuel tax cuts extended until February SEOUL, December 24 (AJP) - The government decided to extend a fuel tax cut for another two months as it expires later this month. The Ministry of Economy and Finance said on Wednesday that the fuel tax cut will remain until the end of February next year to support people affected by volatile gas prices amid a rising cost of living. With the extension, the current tax reductions - 7 percent on gasoline and 10 percent on diesel and liquefied petroleum gas (LPG) - will remain in pla December 24, 2025