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South Korea performs third-best in Q3 real GDP growth in OECD scale SEOUL, November 26 (AJP) -SEOUL, November 26 (AJP) - The South Korean economy performed third-best among 26 economies of the Organization for Economic Cooperation and Development (OECD) in the third quarter, according to preliminary compiling by OECD, the Bank of Korea said Wednesday. Korea’s real GDP grew 1.166 percent in the July–September period, ranking third out of 26 countries that had released preliminary estimates, Israel topped the list with 2.967 percent November 26, 2025
Korean Air to phase out plastic meal trays for eco-friendly alternatives SEOUL, November 25 (AJP) - Korean Air has decided to gradually replace its in-flight meal containers with ones with eco-friendly, sustainable alternatives as early as next month, the flagship carrier said on Tuesday. The airline will begin using containers made from plant-based, non-wood pulp materials on select routes in early December, with plans to expand their use across its entire fleet by the end of next year. The move is intended to reduce plastic use and carbon emissions a November 25, 2025
Musinsa posts record profit for second straight year despite fashion industry downturn SEOUL, November 25 (AJP) - South Korean fashion platform Musinsa announced on Tuesday its cumulative operating profit through the third quarter rose more than 20 percent from a year earlier to surpass 70 billion won ($50 million), while revenue increased by double digits. Third-quarter operating profit on a consolidated basis increased 7.3 percent from a year earlier to 11.8 billion won, while revenue expanded 11.8 percent to 302.4 billion won. Cumulative operating profit throu November 25, 2025
Koreans spent nearly $6 billion abroad on cards in Q3, setting new record SEOUL, November 25 (AJP) - South Koreans’ overseas card spending hit an all-time high in the third quarter, buoyed by a rebound in outbound travel and steady demand for direct overseas purchases, the Bank of Korea said on Tuesday. Total spending abroad using credit and debit cards reached $5.93 billion between July and September, up 7.3 percent from the previous quarter’s $5.52 billion and surpassing the previous record of $5.71 billion set a year earlier. The cen November 25, 2025
Asia leans online while US clings to doorbuster ritual in yearend shopping season SEOUL, November 25 (AJP) - The final three months of the year are the busiest for global retailers, with brands competing for visibility through discounts, clearance deals and year-end promotions. Korea’s “Sale Festa”—the nationwide bargain season running from late October to mid-November—remains modest in scale compared to America’s Black Friday and China’s Singles’ Day, but global reach is widening, powered by the strong performance o November 25, 2025
South Korean cable producer TMC to tap US boom with IPO funds SEOUL, November 25 (AJP) - TMC, a South Korean industrial cable producer, said Tuesday it will use funds from its planned initial public offering to expand in the United States, aiming to capitalize on what it described as a “supercycle” driven by surging AI-related data demand. “At a time when the cable market has entered a new supercycle, we plan to strengthen our foothold in the expanding U.S. cable industry and secure new growth engines after listing,&rdquo November 25, 2025
Hyundai, Kia October sales fall in Europe despite market growth SEOUL, November 25 (AJP) - Hyundai Motor and Kia reported lower vehicle sales in Europe in October even as the regional market expanded, according to data released Tuesday by the European Automobile Manufacturers Association. The two automakers sold a combined 81,540 vehicles last month, down 1.4 percent from a year earlier. Hyundai’s sales slipped 1.4 percent to 41,137 units, while Kia posted a 2 percent decline to 40,403 units. Their combined market share fell to 7.5 November 25, 2025
SK's bet on chips pays off as the Korean group eyes $82b milestone exports SEOUL, November 25 (AJP) -Chipmaking — led by high-bandwidth memory (HBM) — accounted for 65 percent of record-setting outbound shipments by South Korea’s SK Group, which is on track to post historic exports of 120 trillion won ($82 billion) this year. Group-wide exports across SK’s portfolio — spanning semiconductors, batteries, energy, and telecommunications — reached 87.8 trillion won between January and September, up nearly 20 percent from November 25, 2025
Celltrion secures Korea Eximbank financing for US biosimilar plant acquisition SEOUL, November 25 (AJP) - Korea Eximbank said Tuesday it will provide 350 billion won (about $237 million) in financing to support Celltrion’s acquisition of Eli Lilly’s biosimilar manufacturing plant in the United States. The acquisition is aimed at strengthening the Korean drugmaker’s supply chain and expanding its presence in the world’s second-largest biosimilar market. Celltrion earlier said it will spend a total of roughly 1.4 trillion won on acqui November 25, 2025
Hanwha Systems expands Gumi plant with new high-tech defense facility SEOUL, November 25 (AJP) - South Korea's Hanwha Systems has opened a new production complex in Gumi, North Gyeongsang Province, following a 2.8 trillion won (approximately $2.1 billion) investment aimed at expanding its next-generation defense and electronic systems capabilities. The company said Tuesday that a completion ceremony was held at the site, with CEO Son Jae-il, local government officials, lawmakers, military officials, and partners among the 250 attendees. Th November 25, 2025