Industry

  • HD Hyundai Infracores hydrogen engines recognized at global expo
    HD Hyundai Infracore's hydrogen engines recognized at global expo SEOUL, December 11 (AJP) - HD Hyundai Infracore’s hydrogen engines, the HX12 and HX22, were named “Best Pick” at the World Hydrogen Expo (WHE) 2025 Best Product Media Awards, the company said Thursday. The awards were decided by a panel of automotive journalists who assessed products displayed at the expo for innovation, technical competitiveness and commercialization potential. HD Hyundai Infracore’s HX12, an 11-liter hydrogen internal combustion engi December 11, 2025
  • South Koreas Hanwha Aerospace showcases locally built K9 artillery in Egypt
    South Korea's Hanwha Aerospace showcases locally built K9 artillery in Egypt SEOUL, December 11 (AJP) - Hanwha Aerospace showcased its K9 self-propelled howitzers at the Egypt International Defense and Security Exhibition (EDEX 2025) in Cairo, drawing strong interest from regional visitors, the company said Thursday. The firm operated a joint exhibition space with Egypt’s Ministry of Defense, displaying the K9 howitzer alongside ground and guided weapon systems. The biennial exhibition, the largest of its kind in the Middle East and Africa, drew mo December 11, 2025
  • Coupang CEO resigns over data breach; US parent firm names interim chief
    Coupang CEO resigns over data breach; US parent firm names interim chief SEOUL, December 10 (AJP) - Coupang said on Thursday that CEO Park Dae-jun has resigned following a major data breach, taking responsibility for the incident and its fallout. The e-commerce firm said Park apologized for disappointing customers and the public, and cited a sense of accountability in stepping down. The company’s U.S.-based parent, Coupang Inc., appointed Harold Rogers as interim CEO. Rogers, a legal and compliance specialist, has he December 10, 2025
  • Year-end IPO buzz in Seoul preludes brisk H1 2026
    Year-end IPO buzz in Seoul preludes brisk H1 2026 SEOUL, December 10 (AJP) - South Korea’s IPO market, dormant for much of the year, is ending 2025 in a surprising burst of activity, with 10 companies going public in December alone. The pattern runs counter to the usual cycle, where listings cluster in the first half and taper off as investors and bankers wind down for the holidays. Instead, this December has emerged as the busiest in recent years, up from six IPOs in both 2023 and 2024. The reason is simple: demand is hot. O December 10, 2025
  • Korean bio names expand footprint in Japan after cracking open the toughest market in Asia
    Korean bio names expand footprint in Japan after cracking open the toughest market in Asia SEOUL, December 10 (AJP) - South Korea's biotechnology leaders are rapidly expanding their footprint in Japan, cashing in on bold pushes into a market long viewed as one of the world's most impenetrable pharmaceutical strongholds. A series of multibillion-won deals and soaring biosimilar penetration rates now signal that Korean firms are reshaping competitive dynamics in Asia's largest and most defensive drug market. Samsung Biologics, the world's largest CDMO by December 10, 2025
  • Mortgage lending loses momentum in South Korea after tighter rules
    Mortgage lending loses momentum in South Korea after tighter rules SEOUL, December 10 (AJP) - Growth in South Korea’s mortgage lending slowed to its weakest pace in 20 months in November, as tighter bank lending standards and easing demand for rental deposit loans weighed on household borrowing, central bank data showed on Wednesday. According to the Bank of Korea’s financial market trends report, outstanding household loans at deposit-taking banks, including policy mortgages, rose by 1.9 trillion won in November to 1,175.6 tr December 10, 2025
  • South Korea weighs fines of up to 10 percent of revenue for major data breaches
    South Korea weighs fines of up to 10 percent of revenue for major data breaches SEOUL, December 10 (AJP) - South Korea’s National Assembly is considering legislation that would allow regulators to fine companies up to 10 percent of their revenue for serious data breaches, as lawmakers seek tougher penalties following a series of large-scale leaks. The proposed amendment to the Personal Information Protection Act, introduced by Park Beom-kye of the ruling Democratic Party and Kim Sang-hoon of the main opposition People Power Party, would raise the cu December 10, 2025
  • Koreas job strength mostly led by temp hires in services, youth jobless deepens
    Korea's job strength mostly led by temp hires in services, youth jobless deepens SEOUL, December 10 (AJP) - South Korea’s labor market continued to show an increasingly asymmetric pattern in November, with headline employment gains masking a deepening slump among young adults and a widening pool of NEET (not in education, employment or training) youth. The number of people on payroll reached 29.05 million, up 225,000 from a year earlier, yet employment among those aged 15 to 29 fell by 177,000 over the same period, according to the Ministry of Data and S December 10, 2025
  • SK Gas, POSCO form alliance to lead push for hydrogen ecosystem
    SK Gas, POSCO form alliance to lead push for hydrogen ecosystem SEOUL, December 10 (AJP) - SK Gas and POSCO Holdings have launched a new industry alliance aimed at building a domestic blue hydrogen ecosystem in South Korea, as companies and public institutions move to accelerate the transition to lower-carbon energy. The “K-Blue Hydrogen Alliance” was inaugurated on Wednesday at the POSCO Center in Seoul, bringing together 15 organizations including SK Ecoengineering, POSCO, the Korea Agency for Infrastructure Technology Advancem December 10, 2025
  • Busan subway to ban e-scooters, high-capacity lithium batteries over fire risk
    Busan subway to ban e-scooters, high-capacity lithium batteries over fire risk SEOUL, December 10 (AJP) - Busan plans to ban personal mobility devices and large-capacity backup batteries equipped with high-capacity lithium batteries from its subway system, citing growing fire safety concerns. The Busan Transportation Corporation said on Wednesday it is revising its passenger transport regulations to introduce the ban. The restrictions will apply to personal mobility devices that use lithium batteries and to backup batteries with capacities exceeding 160 wa December 10, 2025