Industry

  • Turkey picks SK Plasma as partner in drive for domestic plasma-derived medicines
    Turkey picks SK Plasma as partner in drive for domestic plasma-derived medicines SEOUL, November 25 (AJP) - South Korea's SK Plasma has been selected as the technology export partner for Turkey’s national initiative to localize production of plasma-derived medicines, with the firm set to build a plasma fractionation facility through a new joint venture. The company said Tuesday it signed a shareholder agreement in Ankara with the Turkish Red Crescent to establish a joint venture, Proturk, and construct a plasma fractionation plant — its secon November 25, 2025
  • Korea targets Arctic route cooperation in talks with Denmark, UK
    Korea targets Arctic route cooperation in talks with Denmark, UK SEOUL, November 25 (AJP) - South Korea is sharpening its focus on Arctic shipping corridors as it launches a weeklong maritime diplomacy effort in Denmark and the United Kingdom, aiming to expand cooperation on emerging polar routes and secure broader international backing for its maritime agenda. The Ministry of Oceans and Fisheries said Tuesday Minister Jeon Jae-soo will meet Denmark’s Minister for Industry, Business and Financial Affairs on Nov. 26 to sign memorandums o November 25, 2025
  • Naver Financial, Dunamu to merge in $13.5 billion deal creating Koreas fintech giant
    Naver Financial, Dunamu to merge in $13.5 billion deal creating Korea's fintech giant SEOUL, November 25 (AJP) - Naver Financial, the country's top mobile payment provider, and Dunamu, operator of South Korea's largest cryptocurrency exchange Upbit, will merge in a landmark deal valued at around 20 trillion won ($13.5 billion). The boards of both companies are set to convene on Wednesday to approve the merger, with a joint press conference scheduled for Thursday at Naver's headquarters in Seongnam, south of Seoul. The combined entity would become Korea November 25, 2025
  • Kias EV6 GT outperforms Model Y, Polestar 4 in German magazines comparison test
    Kia's EV6 GT outperforms Model Y, Polestar 4 in German magazine's comparison test SEOUL, November 25 (AJP) - Kia’s high-performance EV6 GT has topped a comparative test by German automotive magazine Auto Motor und Sport, outperforming Tesla’s Model Y and the Polestar 4, the company said Tuesday. The publication, one of Germany’s most influential auto outlets, assessed the three models across seven categories: body, safety, comfort, powertrain, driving performance, environmental performance, and cost. The EV6 GT scored 597 points overall, ahe November 25, 2025
  • South Koreas central bank widely expected to freeze rate at Thursdays meeting: Survey
    South Korea's central bank widely expected to freeze rate at Thursday's meeting: Survey Bank of Korea Governor Lee Chang-yong at the Oct. 23 monetary policy meeting/ Photo by Joint Press Corps SEOUL, November 25 (AJP) - The Bank of Korea is widely expected to keep its benchmark interest rate unchanged at 2.50 percent at its final policy meeting of the year, slated for Thursday, as it prepares to lift growth projections for both 2024 and 2025. The anticipated hold comes amid firmer economic activity and persistent concerns over a weak won, rising home prices and el November 25, 2025
  • Korean consumer confidence most upbeat in eight years
    Korean consumer confidence most upbeat in eight years SEOUL, November 25 (AJP) - South Koreans turned markedly more upbeat about the economy in November, buoyed by the stock market’s record-setting rally, the settlement of a tariff deal with the United States, and stronger-than-expected third-quarter growth led by resilient exports. The Consumer Sentiment Index (CCSI) rose 2.6 points from October to 112.4, the highest since 113.9 in November 2017, the Bank of Korea said Tuesday. A reading above 100 signals optimism about cu November 25, 2025
  • Musinsa launches K-culture platform targeting global fans
    Musinsa launches K-culture platform targeting global fans SEOUL, November 24 (AJP) - South Korean fashion platform Musinsa launched K-KONNECT this month, a dedicated category featuring K-pop and K-culture merchandise including fashion items, albums, and event tickets. The service, which builds on Musinsa's limited-release platform "Musinsa Drop" launched in 2023 and "Musinsa Edition" brand collaborations from 2024, aims to connect Korean culture with global fans through exclusive products and offline pop-up stores November 24, 2025
  • BOK seen holding rates through early 2026 as won weakens and debt pressures mount
    BOK seen holding rates through early 2026 as won weakens and debt pressures mount SEOUL, November 24 (AJP) - The Bank of Korea is widely expected to keep its key rate unchanged at 2.50 percent this week — and likely through the first half of 2026 — as the steep slide in the Korean won and heavy private-sector debt leave little room for further easing. The Monetary Policy Board meets Thursday for its final rate decision of the year. The base rate was cut twice in the first half, by a combined 50 basis points from 3.00 percent to 2.50 percent, and has November 24, 2025
  • Korean won nears 1,500, reshaping export gains and deepening cost pains across industries
    Korean won nears 1,500, reshaping export gains and deepening cost pains across industries SEOUL, November 24 (AJP) - The Korean won’s slide toward the 1,500-per-dollar mark — a level touched only during crisis periods — is raising alarms for a trade-dependent economy where a cheaper currency now delivers diminishing benefits to exports while magnifying cost burdens for companies with massive U.S. investment plans. According to Bank for International Settlements data, Korea’s real effective exchange rate (REER) fell to 89.09 at the end of October November 24, 2025
  • Food inflation may be brewing as the dollar–won rate stays at crisis levels
    Food inflation may be brewing as the dollar–won rate stays at crisis levels SEOUL, November 24 (AJP) - Kalguksu, flour dough cut by knife into noodles and served in a steamy broth, is one of the cheapest comfort meals for Korean office workers on cold winter days. But even this humble bowl is no longer cheap. A serving now averages 9,846 won ($7), up 5 percent from a year ago and more than 50 percent from a decade earlier. It is the latest addition to Korea's growing list of food-flation items, as the soaring dollar–won exchange rate raises the November 24, 2025