Industry

  • BYD makes fast inroads in Korea with sales nearing 5,000 EV cars
    BYD makes fast inroads in Korea with sales nearing 5,000 EV cars SEOUL, December 20 (AJP) -BYD, China’s largest electric-vehicle manufacturer, has rapidly established a foothold in South Korea’s imported-car market, breaking into the top 10 foreign brands within its first year of local operations. According to the Korea Automobile Importers & Distributors Association on Dec. 19, BYD sold 4,955 vehicles through November, accounting for 1.78 percent of the imported-car market. Based on recent sales momentum, full-year deliveries are December 20, 2025
  • Koreas FTC chief signals suspension on Coupang if fault confirmed in data leak
    Korea's FTC chief signals suspension on Coupang if fault confirmed in data leak SEOUL, December 20 (AJP) -Ju Biung-ghi, chairman of South Korea’s Fair Trade Commission, said authorities are keeping open the possibility of slapping business suspension e-commerce giant Coupang following a large-scale leak of customer personal data. Speaking on KBS’ “NewslineW" on Friday afternoon, Ju said the FTC is mobilizing “all available means,” including dispute mediation and support for consumer lawsuits, to assist those affected by December 20, 2025
  • Krafton, Naver, Mirae Asset pool capital for Asia startup bets
    Krafton, Naver, Mirae Asset pool capital for Asia startup bets SEOUL, December 19 (AJP) - Game developer Krafton said on Friday it will set up an Asia-focused investment fund with Naver and Mirae Asset Group worth up to 1 trillion won ($740 million), betting on fast-growing technology companies across the region. The fund, named the Krafton–Naver–Mirae Asset Unicorn Growth Fund, will target promising technology firms in major Asian markets, including South Korea and India. The partners said the vehicle aims to generate long-ter December 19, 2025
  • Musinsa opens first overseas multi-brand store in Shanghais Anfu Road
    Musinsa opens first overseas multi-brand store in Shanghai's Anfu Road SEOUL, December 19 (AJP) - South Korean fashion platform Musinsa has opened its first overseas multi-brand store in Shanghai on Friday, marking a strategic push to expand its offline presence in China’s rapidly shifting fashion retail market. The new store, located on Anfu Road — one of Shanghai’s most influential fashion districts — brings together 59 brands across three floors, including 44 Korean designer and accessory labels and a selection of Chinese a December 19, 2025
  • KAI secures Surion helicopter contracts worth 71 billion won
    KAI secures Surion helicopter contracts worth 71 billion won SEOUL, December 19 (AJP) - Korea Aerospace Industries (KAI) said Friday it has signed separate contracts to supply one Surion multipurpose helicopter each to the Korea Coast Guard and the Korea National Park Service. The Coast Guard contract is valued at 38.5 billion won, while the National Park Service deal totals 32.8 billion won, KAI said. Each contract covers one helicopter along with spare parts, ground support equipment and training for pilots and maintenance personnel. December 19, 2025
  • Korean digital platforms under threat and underprepared
    Korean digital platforms under threat and underprepared SEOUL, December 19 (AJP) - Global content platform TikTok announced more than $2 billion in annual safety investments on Thursday — a stark contrast to South Korea's major digital platforms, which are struggling to fend off both cyberattacks and real-world security threats. TikTok said the platform, which surpassed 1 billion monthly active users globally in 2021, continues to expand its reach, with more than 100 million videos uploaded each day. According to TikTok' December 19, 2025
  • Lee Jae Myung warns against collateral-heavy lending, seeks structural banking reforms
    Lee Jae Myung warns against collateral-heavy lending, seeks structural banking reforms SEOUL, December 19 (AJP) - President Lee Jae Myung on Thursday renewed his criticism of what he described as the banking sector’s reliance on “easy” interest income, urging regulators to embed stronger consumer protections and tighter oversight into law. Speaking at a policy briefing of the Financial Services Commission (FSC) at the Government Complex Seoul, Lee asked whether financial institutions effectively avoid losses even when loan delinquencies occur b December 19, 2025
  • How Koreas young-40s are redefining the premium phone market
    How Korea's "young-40s" are redefining the premium phone market SEOUL, December 19 (AJP) - Koreans in their 40s have long been seen as digitally fluent, image-conscious and economically confident — hip moms and dads who keep pace with trends and AI tools alike. Lately, however, they have come under a new kind of mockery: for trying too hard to look young. At the center of the joke — and the shift — is the smartphone. More specifically, the iPhone, increasingly embraced as a symbol of youthfulness. What began as online &ld December 19, 2025
  • SK Signet to raise 30 billion won to expand global EV charger business
    SK Signet to raise 30 billion won to expand global EV charger business SEOUL, December 19 (AJP) - EV charger maker SK Signet said on Friday its board had approved a third-party share sale worth about 30 billion won, with parent company SK Inc. set to participate in the offering. The company said the proceeds will be used to expand production infrastructure to support global growth and to strengthen product competitiveness. SK Signet plans to gradually increase capacity and improve operating efficiency centered on its production base in Texas, whil December 19, 2025
  • South Korea to support Egypts customs system upgrade
    South Korea to support Egypt's customs system upgrade SEOUL, December 19 (AJP) - The Korea Customs Service (KCS) said Friday Commissioner Lee Myung-gu has signed a memorandum of understanding with Ahmed Amawy Robin, head of the Egyptian Customs Authority, to advance the customs system in Egypt. The agreement, concluded in Cairo, is part of South Korea’s official development assistance (ODA) efforts to modernize customs operations in partner countries. The KCS said it will support automation of Egypt’s express cargo logi December 19, 2025