Industry

  • South Koreas Doosan Enerbility wins new US gas turbine order for data center
    South Korea's Doosan Enerbility wins new US gas turbine order for data center SEOUL, December 17 (AJP) - Doosan Enerbility said on Wednesday it has signed a contract to supply three large gas turbines to a major U.S. technology company. Under the deal, Doosan Enerbility will supply three 380-megawatt gas turbines for use at the customer’s data center, with one unit scheduled for delivery in 2027 and the remaining two in 2028. The company did not disclose the name of the customer or the contract value. The latest agreement follows an earlier deal December 17, 2025
  • Koreas shipbuilders to extend order growth streak in 2026
    Korea's shipbuilders to extend order growth streak in 2026 Editor's Note: This is the second installment in AJP's 2026 outlook series on South Korea's key industries, based on forecasts by the Korea Chamber of Commerce and Industry (KCCI). SEOUL, December 17 (AJP) - South Korea's shipbuilding industry is expected to extend its growth streak into 2026 after posting record shipments in 2025, although slowing global orders and intensifying competition from Chinese yards are emerging headwinds, according to forecasts compiled by December 17, 2025
  • Samsungs tri-fold phone sells out again despite hefty price tag
    Samsung's tri-fold phone sells out again despite hefty price tag SEOUL, December 17 (AJP) - Samsung Electronics’ ultra-premium Galaxy Z Tri-Fold smartphone has sold out again within minutes, reflecting strong demand for the company’s latest foldable innovation despite its price exceeding 3.59 million won ($2,450). Samsung said a second batch of the Galaxy Z Tri-Fold sold out in about two minutes after going on sale at 10 a.m. on its official website and at major retail outlets nationwide. The first batch, released on Dec. 12, sold December 17, 2025
  • Samsung seen emerging winner in premium smartphones as memory costs surge
    Samsung seen emerging winner in premium smartphones as memory costs surge SEOUL, December 17 (AJP) - Soaring memory prices — spilling over from DRAM into NAND flash that powers smartphones — are forcing device makers to respond with specification downgrades or price hikes. Samsung Electronics, however, with its full-cycle smartphone capabilities spanning memory, application processors, displays and handsets, may hold the strongest edge, particularly in the premium segment. Memory prices are projected to climb sharply again in the first quart December 17, 2025
  • South Korea to end free disposable plastic cups under new anti-plastic plan
    South Korea to end free disposable plastic cups under new anti-plastic plan SEOUL, December 17 (AJP) - South Korea plans to end the free distribution of disposable plastic cups at cafes and other food outlets, requiring consumers to pay a fee as part of a broader push to curb plastic waste, the government said on Wednesday. The Ministry of Environment said the measure would be included in a comprehensive anti-plastic strategy to be released next week. The policy will replace the existing disposable cup deposit system. Under the new plan, individual b December 17, 2025
  • Samsung Electronics maps 2026 strategy with focus on AI, China ties, foldables
    Samsung Electronics maps 2026 strategy with focus on AI, China ties, foldables SEOUL, December 17 (AJP) - Samsung Electronics is setting its business strategy for 2026 amid prolonged global economic uncertainty, with artificial intelligence, cooperation with Chinese partners and leadership in foldable smartphones emerging as key priorities. The company said on Wednesday it is holding global strategy meetings from Dec. 16 to 18. The Device eXperience (DX) division, which oversees smartphones, TVs and home appliances, is scheduled to meet on Dec. 16– December 17, 2025
  • Kosdaq-heading chip design house SemiFive prices IPO at top of range
    Kosdaq-heading chip design house SemiFive prices IPO at top of range SEOUL, December 17 (AJP) - South Korean chip designer SemiFive said on Wednesday it has set its initial public offering price at 24,000 won per share, the top of its indicative range, after its book-building drew 2,159 institutional investors with a subscription rate of 436.9 to 1. The IPO will raise about 129.6 billion won ($87 million) and value the company at about 809 billion won when it lists on the KOSDAQ market on Dec. 29. The book-building ran from Dec. 10 to 16. SemiFive December 17, 2025
  • Koreas industry minister pledges to cut fake work, boost efficiency
    Korea's industry minister pledges to cut 'fake work,' boost efficiency SEOUL, December 17 (AJP) - South Korea’s Industry Minister Kim Jung-kwan said on Wednesday he aims to cut so-called “fake work” by 30 percent as part of broader efforts to strengthen organizational efficiency and innovation across government. Speaking at a government briefing in the administrative city of Sejong, Kim said reducing superficial or low-value tasks was essential to improving institutional capacity and productivity. President Lee Jae Myung voiced December 17, 2025
  • Shinsegae chairs Hannam-dong home remains South Koreas most expensive for 11th year
    Shinsegae chair's Hannam-dong home remains South Korea's most expensive for 11th year SEOUL, December 17 (AJP) - Lee Myung-hee, chairwoman of South Korea’s Shinsegae Group, owns the country’s most expensive home for the 11th consecutive year, according to government property data released on Wednesday. Lee’s residence in Hannam-dong, central Seoul, was valued at 31.35 billion won ($21 million), up 5.48 percent from a year earlier, data from the Ministry of Land, Infrastructure and Transport showed. The valuation rose by 1.63 billion won from December 17, 2025
  • Coupang interim head repeats apology at hearing, founder and key C-suite stay away
    Coupang interim head repeats apology at hearing, founder and key C-suite stay away SEOUL, December 17 (AJP) -Coupang Corp.’s interim chief executive officer Harold Rogers apologized Wednesday for a massive data breach affecting more than 33 million South Korean customers, while telling lawmakers that the incident did not trigger mandatory disclosure requirements under U.S. privacy and securities regulations. "I am deeply sorry for the concern that we have created for the Korean people,” Rogers said at a National Assembly hearing, pled December 17, 2025