Samsung Electronics to supply HVAC systems for premium housing project in India SEOUL, June 22 (AJP) - Samsung Electronics will supply air conditioning systems for a premium residential complex in India, as the company seeks to expand its HVAC business beyond commercial buildings into the residential market, the company said on Monday. The South Korean tech giant said it has partnered with Indian real estate developer Central Park to install more than 3,000 units of its residential air conditioning systems across 300 households at "The Orchard," a r June 22, 2026

High-income workers hit record high but wage gaps between industries widen SEOUL, June 22 (AJP) - The number of workers earning at least 5 million won ($3,600) a month reached a record high in the second half of last year. According to data released by the Korean Statistical Information Service (KOSIS) on Monday, some 3.71 million people earned an average monthly wage of at least 5 million won including bonuses and before taxes in the second half of 2024, up 296,000 from a year earlier. They accounted for 16.5 percent of the country's 22.49 million June 22, 2026

When AI talks markets: Three chatbots, one Samsung question, and the $620 bet behind it SEOUL, June 21 (AJP) - The world has always found curious ways to talk about the future. Sometimes the storyteller is a philosopher, sometimes an economist. In 2026, a new narrator has joined them: artificial intelligence. Claude, Gemini and ChatGPT — three large models built by three rival labs — were each handed the same question. A Wall Street analyst has put an 850,000-won target on Samsung Electronics. What to make of it? What stands out is not that the three June 21, 2026

S.Korea seeks site for second spaceport to meet launch demand SEOUL, June 21 (AJP) - South Korea will open a nationwide search for the site of a second spaceport, the country's space agency said, as it prepares for an expected surge in launches driven by reusable rockets. The Korea AeroSpace Administration (KASA) announced Sunday it would invite bids from local governments until August 6 to host the facility, which is intended to support more than 10 reusable-rocket launches a year from the mid-to-late 2030s. The agency aims to complete June 21, 2026

Amorepacific chief's younger daughter weds in private Seoul ceremony SEOUL, June 21 (AJP) - The younger daughter of Suh Kyung-bae, chairman of South Korea's Amorepacific Group, married on Sunday, drawing fresh attention to the cosmetics empire's third-generation succession. Suh Ho-jeong, 30, exchanged vows at 6:30 p.m. at the Shilla Hotel in central Seoul's Jangchung-dong, according to business sources. The groom is an investment and management consultant at a foreign firm who has studied abroad, and the couple were introduced through acq June 21, 2026

S.Korean savers shift from insurance to ETFs as stock rally lures bank money SEOUL, June 21 (AJP) - A pronounced "money move" is unfolding inside South Korea's banks as savers abandon insurance products in favor of exchange-traded funds (ETFs), drawn by a buoyant stock market that has reshaped where households park their cash. ETF sales at the country's five major commercial banks - KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup - reached 56.73 trillion won ($37.12 billion) in the first months of this year, about 10.8 times the 5.21 trill June 21, 2026

South Korea steps in as Trump pulls back from arming allies SEOUL, June 21 (AJP) - South Korea is fast emerging as a major weapons supplier to the world, seizing an opening created as U.S. President Donald Trump retreats from Washington's traditional security guarantees and presses allies to defend themselves, Politico reported. The paper said that the shift echoes the 1969 Nixon Doctrine, when then-President Richard Nixon told Asian allies to take charge of their own defense and pulled about 20,000 American troops from the peninsula. June 21, 2026

S.Korea's hypermarkets shed market share as e-commerce, discounters bite SEOUL, June 21 (AJP) - South Korea's hypermarket chains have absorbed the heaviest blow among offline retailers from the rise of e-commerce, with their share of total retail sales sliding to a record low as shoppers migrate online and to deep-discount stores. The country's three big-box operators — E-mart, Lotte Mart and Homeplus — accounted for 7.9 percent of total retail revenue as of April this year, the lowest share on record, according to data from the Minis June 21, 2026

Canada's submarine choice extends beyond hardware to workers and allies SEOUL, June 19 (AJP) - Canada's plan to acquire up to 12 new submarines is entering a decisive phase, but mounting concerns over labor shortages, industrial capacity and military interoperability suggest choosing a winning bidder may be the easiest part of the program. South Korea's Hanwha Ocean and Germany's ThyssenKrupp Marine Systems, or TKMS, are the two finalists for the multibillion-dollar contract, with Ottawa expected to make a decision within weeks. But as th June 19, 2026

SK hynix showcases advanced AI memory portfolio at HPE Discover 2026 SEOUL, June 19 (AJP) - South Korean chipmaker SK hynix showcased its extensive lineup of artificial intelligence (AI) infrastructure memory products, including High Bandwidth Memory (HBM) and server DRAM, at the HPE Discover 2026 IT exhibition in the United States according to the company on Friday. Hosted annually by Hewlett Packard Enterprise (HPE), a U.S. firm specializing in hybrid cloud and data center servers, the global technology conference ran for four days from June 15 t June 19, 2026