Coupang, latest breach in Korea, with no effective guardrail in sight

SEOUL, November 21 (AJP) - Coupang has emerged as the latest flashpoint in Korea's widening cybersecurity crisis, with customer data leaking yet again as major companies — from telecom operators to card issuers — continue to fall victim to preventable attacks under a regulatory system that seldom imposes meaningful penalties. Coupang said late Thursday that an "unauthorized third party" accessed the personal information of more than 4,500 customers. Accor

November 21, 2025

KOSPI, this year's stellar winner, crashes into year-end on AI bubble scare and FX pressures

SEOUL, November 21 (AJP) - South Korea’s KOSPI has been the strongest-performing major Asian index this year, but this week’s rout has laid bare its structural fragility — an equity market dominated by a few tech bellwethers and increasingly shunned by foreign investors as the won sinks to new lows. Until just days ago, enthusiasm bordered on euphoria. Forecasts that the KOSPI could surge to 5,000 or even 7,000 became commonplace. Even after Friday’s 3.8

November 21, 2025

Samsung Electronics names new DX, DS co-CEOs and brings in global science talent in sweeping leadership reshuffle

SEOUL, November 21 (AJP) - Samsung Electronics unveiled a major leadership reshuffle on Friday, reinstating a two-CEO structure and appointing Harvard professor Hongkun Park and software veteran Janghyun Yoon to top technology roles as the company accelerates its transition toward next-generation semiconductor and AI innovation. TM Roh, head of the Mobile eXperience (MX) Business and acting chief of the Device eXperience (DX) Division, has been formally promoted to President &

November 21, 2025

POSCO removes Pohang steel plant chief after safety accidents

SEOUL, November 21 (AJP) - POSCO has removed the head of its Pohang steel mill after a series of safety incidents, including a toxic gas leak on Thursday that sent six workers to the hospital. The company said it will launch a special safety task force led by its newly established subsidiary, POSCO Safety Solutions. Industry sources said Friday that POSCO dismissed Pohang mill chief Lee Dong-ryeol after subcontracted workers and a POSCO employee were exposed to harmful gas du

November 21, 2025

Asian stocks tumble across the board

SEOUL, November 21 (AJP) - All major stock markets in Asia fell more than 2 percent on Friday, with South Korea's benchmark KOSPI plunging nearly 4 percent. In Seoul, the KOSPI fell 3.8 percent to close at 3,853.26, while the junior KOSDAQ slumped 3.1 percent to 863.95. In large-cap stocks, Samsung Electronics plunged 5.8 percent to 94,800 Koren won ($64), and SK hynix dropped 8.8 percent to 521,000 won. Among the top 10 market-cap companies, only Kia gained 0.5 percent, whil

November 21, 2025

Friendship Week returns to Shandong, boosting relations between South Korea and China

SEOUL, November 21 (AJP) - A special weeklong event is taking place this week in the Chinese city of Jinan, Shandong Province, the South Korean Embassy in China said on Friday. Under the banner of "Friendship Week," which was first launched in 2003, the event had served as a key platform for local cooperation between the two countries, promoting economic and cultural exchanges. This year's event marks both the first since the coronavirus pandemic and the first held

November 21, 2025

Deutsche Motors, BMW's South Korean distributor, under 'special' tax probe

SEOUL, November 21 (AJP) - South Korea’s National Tax Service has launched a tax probe into Deutsche Motors, the country’s official distributor of BMW vehicles. Industry sources said tax officials recently visited the company’s Seoul headquarters to secure documents and computer records as part of the inquiry. The investigation is being led by the Seoul Regional Tax Office and is classified as a "special" audit, according to the sources. Deutsch

November 21, 2025

Korea's late-40s breast cancer spike: researchers identify a surprising risk group

SEOUL, November 21 (AJP) - Overweight and obesity are the most common drivers of post-menopausal breast cancer in American women — but for Koreans, new evidence suggests the opposite: being underweight may be the greater risk factor. New data highlight that breast-cancer risk in Korea follows a markedly different biological pathway from that of Western populations, where excess body fat typically fuels tumor development after menopause. In Korea and Japan, breast-cancer i

November 21, 2025

Mega malls emerge as Korean retailers' answer to online challenges

SEOUL, November 21 (AJP) - South Korea’s retail giants, squeezed by the rapid proliferation of online shopping and a prolonged slump in domestic consumption, are betting on mega-sized mixed-use malls to regain foot traffic by drawing customers through leisure and tourism appeal. Gwangju has become the latest city to embrace the trend, breaking ground this week on a large-scale multi-complex mall that blends retail with entertainment. These mega malls combine shoppin

November 21, 2025

PHOTOS: Annual expo showcases thousands of coffee and beverage brands

SEOUL, November 21 (AJP) -The Seoul International Café Show kicked off its four-day run at COEX in southern Seoul on Wednesday. Held every November, the annual event provides a key business platform for coffee and beverage makers, as well as related companies in the booming industry. The show features a wide range of products beyond coffee including tea, bakeries, desserts, alcoholic beverages, and café equipment.

November 21, 2025