Korea's Hanwha and Emirati defense group EDGE upgrade air defense partnership

Hanwha Aerospace signs MOU with UAE’s EDGE Group to expand defense AI cooperation SEOUL, November 21 (AJP) - South Korea's defense firm Hanwha Aerospace and Emirati state-owned defense conglomerate EDGE Group on Friday announced they have signed a memorandum of understanding (MoU) to expand joint develpment across advanced air and missile defense, long-range precision strike, unmanned systems, and defense AI. Under the agreement signed during the Dubai Airshow

November 21, 2025

Polestar CEO touts Busan plant as key export hub for North America

SEOUL, November 21 (AJP) - Michael Loscheller, chief executive of Polestar, stressed the strategic value of the company’s new production base in Busan, describing it as a critical link between Asian manufacturing and North American demand. Speaking to reporters in Seoul on Nov. 20, Loscheller said the plant has begun trial production of the Polestar 4 destined for North American markets. The facility, operated by Renault Korea, underwent a major upgrade this year to pre

November 21, 2025

Asian shares tumble on renewed U.S. tech rout, exposing regional market fragility

SEOUL, November 21 (AJP) - Asian markets slid on Friday as a fresh selloff in U.S. tech reignited “AI bubble” fears and laid bare how deeply regional sentiment is tethered to Wall Street’s semiconductor cycle. Overnight, all three major U.S. indexes fell. Nvidia cooled 3.15 percent to $180.64, reversing its brief rebound. AMD plunged 7.84 percent to $206.02, while Micron Technology tumbled 10.87 percent to $201.37, clinging just above the psychologically importan

November 21, 2025

Coupang reports data breach affecting 4,500 customers

SEOUL, November 21 (AJP) - Coupang, South Korea's leading e-commerce giant, said Friday it has detected a data breach affecting 4,500 customers. It informed customers the previous day that unauthorized access to personal information including names, email addresses, and order and delivery details was detected on Tuesday. After discovering the breach, Coupang blocked the access route used by the unknown third party. The company added that there is currently no evidence the s

November 21, 2025

North Korean leader attends ceremony for new hydropower plant

SEOUL, November 21 (AJP) - North Korean leader Kim Jong-un attended a ceremony marking the completion of a hydropower plant in Kangwon Province, state media reported on Friday. According to the state-run Rodong Sinmun, Kim visited the plant the previous day, the sixth to be built in the region amid the country's chronic electricity shortage. In his speech, Kim described the plant's completion as a significant achievement, praising the collaboration between the militar

November 21, 2025

Hyundai's Casper Electric wins Germany's Golden Steering Wheel Awards

SEOUL, November 21 (AJP) - Hyundai Motor’s Casper Electric has been named the “Best Car Under 25,000 Euros” at the 2025 Golden Steering Wheel Awards, one of Europe’s most influential automotive honors, the company said Friday. The award underscores the model’s rising prominence in Germany’s fiercely competitive small electric vehicle segment. Hyundai has been steadily broadening its EV lineup, building on the success of the Ioniq 5, and the Ca

November 21, 2025

Firefighters struggle to contain wildfire in Inje

SEOUL, November 21 (AJP) - Firefighters are still battling a wildfire in the mountainous areas of Inje, Gangwon Province, with about 60 percent of the flames contained as of early Friday morning. According to the Korea Forest Service, more than 300 rescue officials were mobilized overnight to extinguish the blaze which broke out at around 5:30 p.m. the previous day, but the rugged mountain ranges made the operation difficult. Additional helicopters were also deployed at sunrise

November 21, 2025

South Korea's halt on state asset sales strains debt-laden public firms

SEOUL, November 21 (AJP) - President Lee Jae Myung’s order to halt the sale of state-owned assets over concerns of potential undervaluation has left major public agencies scrambling for alternatives, despite growing fiscal pressures and the need to offload underperforming holdings. According to industry officials, Korea National Oil Corp. (KNOC) has suspended its long-running effort to sell Harvest, a Canadian oil and gas producer it acquired in 2009. KNOC, which has rem

November 21, 2025

Korea-Japan joint titles emerge as new streaming sellers

SEOUL, November 21 (AJP) - In October, Netflix’s charts delivered an unusual pairing at the top: the Korean film “Good News” and the Korea–Japan co-produced drama “Anonymously Yours”. Despite their different genres, both titles underscore a fast-rising trend — Korean and Japanese creators increasingly joining forces in writing, directing, casting, and financing. “Anonymously Yours,” a romance series adapted from the 2010 French

November 21, 2025

KITA expands global network with new offices in Vietnam, Brazil

SEOUL, November 21 (AJP) - The Korea International Trade Association (KITA) has opened new offices in Hanoi and São Paulo, advancing its strategy to deepen ties with emerging markets across the Global South. KITA held an opening ceremony for its Hanoi office on Nov. 20 at the Lotte Hotel Hanoi. The event drew some 90 officials, including KITA Chairman Yoon Jin-sik, Vu Ba Phu, director general of Vietnam’s Trade Promotion Agency, and Jang Ho-seung, South Korea’

November 21, 2025