Industry

  • Koreas construction sector posts sharpest downturn in decades amid weak domestic demand
    Korea's construction sector posts sharpest downturn in decades amid weak domestic demand SEOUL, December 16 (AJP) - South Korea’s construction industry recorded its sharpest revenue decline since 1999 last year, as weak domestic demand weighed heavily on the sector, official data showed on Tuesday. According to the 2025 Construction Industry Survey released by the National Data Agency, industry revenue fell 3.8 percent from a year earlier to 487.7 trillion won. It marked the largest annual contraction in more than two decades. The downturn w December 16, 2025
  • Hanwha completes acquisition of Indonesias Ciptadana Asset Management
    Hanwha completes acquisition of Indonesia's Ciptadana Asset Management SEOUL, December 16 (AJP) - Hanwha Investment & Securities said on Tuesday it has completed the acquisition of Ciptadana Asset Management in Indonesia, strengthening its foothold in Southeast Asia’s fast-growing capital markets. Ciptadana Asset Management is part of Indonesia’s sixth-largest conglomerate, Lippo Group, and has more than 30 years of experience in the country’s financial sector. Hanwha agreed in 2023 to acquire an 80 percent stake in both Ci December 16, 2025
  • Samsung Electronics steps up B2B push with HVAC, displays, AI solutions
    Samsung Electronics steps up B2B push with HVAC, displays, AI solutions SEOUL, December 16 (AJP) - Samsung Electronics is ramping up its push into the business-to-business market, expanding its air conditioning portfolio into industrial applications and broadening its presence in corporate displays and connected building solutions for enterprise clients. According to industry sources, Samsung has reinforced its Air Solution team within the Digital Appliances division as it shifts focus from consumer-oriented air conditioners to industrial, infrastru December 16, 2025
  • Celltrion launches Eylea biosimilar in Europe, secures UK healthcare tenders
    Celltrion launches Eylea biosimilar in Europe, secures UK healthcare tenders SEOUL, December 16 (AJP) - South Korean biopharmaceutical company Celltrion said it launched Eydenzelt, its biosimilar version of blockbuster eye disease treatment Eylea, in major European markets including Germany and Britain earlier this month as it seeks to expand its foothold in the lucrative ophthalmology sector. The company's UK subsidiary secured National Health Service tenders in three administrative regions immediately upon launch, including northern England, the countr December 16, 2025
  • Hyundai Motor extends World Archery sponsorship through 2028
    Hyundai Motor extends World Archery sponsorship through 2028 SEOUL, December 16 (AJP) - Hyundai Motor said on Tuesday it will extend its partnership with World Archery until 2028, maintaining its title sponsorship of the World Archery Championships and the Archery World Cup. The South Korean automaker first partnered with World Archery in 2016. Under the renewed agreement, Hyundai will also sponsor the Para Archery World Series and the Indoor Archery World Series. The Para Archery World Series, a development-focused program for athlete December 16, 2025
  • Seoul and London upgrade FTA, lower tariff for Korean cars and consumer goods
    Seoul and London upgrade FTA, lower tariff for Korean cars and consumer goods SEOUL, December 16 (AJP) -South Korea and the United Kingdom have finalized an upgraded free trade agreement that locks in permanent tariff-free access across 98 percent of South Korean tariff lines, marking one of the most comprehensive post-Brexit trade resets between the two countries. The revised agreement, signed in London on Monday by South Korean Trade Minister Yeo Han-koo and UK Trade Minister Chris Bryant, concludes two years of negotiations aimed at modernizing the bilate December 16, 2025
  • Samsungs Lee Jae-yong holds AI chip talks with Tesla, AMD in US
    Samsung's Lee Jae-yong holds AI chip talks with Tesla, AMD in US SEOUL, December 16 (AJP) - Samsung Electronics Chairman Lee Jae-yong met Tesla Chief Executive Elon Musk and Advanced Micro Devices Chief Executive Lisa Su during a visit to the United States, as the company moves to strengthen partnerships in next-generation artificial intelligence semiconductors. Lee returned to South Korea on Sunday after the trip, which focused on expanding Samsung’s foundry and memory businesses with leading global technology firms. “I worked ha December 16, 2025
  • Korean memory giants ready for 2026 peak as HBM boom spills into commodity DRAM
    Korean memory giants ready for 2026 peak as HBM boom spills into commodity DRAM SEOUL, December 15 (AJP) - As Big Tech accelerates the next phase of AI infrastructure — with Google challenging Nvidia through in-house chip design and foundation models like Gemini scaling rapidly — the repercussions are becoming systemic for South Korea’s memory industry. Investment banks now project that Samsung Electronics and SK hynix could together generate close to 200 trillion won in operating profit in 2026, an income pool equivalent to roughly 27 percent December 15, 2025
  • Samsung Heavy secures key certification for floating nuclear reactor design
    Samsung Heavy secures key certification for 'floating nuclear reactor' design SEOUL, December 15 (AJP) - Samsung Heavy Industries said on Monday it has received preliminary certification for its floating nuclear power platform equipped with small modular reactors, marking a key step in its push into the emerging maritime nuclear energy market. The American Bureau of Shipping (ABS) granted Approval in Principle (AIP) for Samsung Heavy’s Floating Small Modular Reactor (FSMR) design, which incorporates two SMART 100 reactors developed by the Korea Atom December 15, 2025
  • CJ Olive Young tops Koreas most-wanted employers list, survey shows
    CJ Olive Young tops Korea's most-wanted employers list, survey shows SEOUL, December 15 (AJP) - CJ Olive Young has emerged as South Korea’s most sought-after employer in 2025, overtaking technology heavyweights SK hynix and Naver, according to a survey released by local recruitment platform Catch on Saturday. The survey, which polled 3,079 job seekers and employees nationwide, found that 20 percent of respondents selected CJ Olive Young as the company they most want to join. The beauty retailer climbed two spots from last year’s third p December 15, 2025