Samsung's grip on foldable phone market expected to slip this year

SEOUL, July 23 (AJP) - Samsung Electronics is expected to see its global market share in foldable smartphones drop by roughly 10 percentage points this year, as rival brands gain ground in the rapidly evolving segment, according to a report by Taiwan-based research firm TrendForce. The firm projects global shipments of foldable phones will reach 19.8 million units in 2025. Samsung’s share is forecast to decline from 45.2 percent last year to 35.4 percent in 2025, reflecting

July 23, 2025

[K-Tech] Hanwha's US shipyard to build LNG carrier in $250 million deal

SEOUL, July 23 (AJP) - Hanwha Ocean has signed a 348 billion won (approximately $250 million) contract with its American affiliate, Hanwha Philly Shipyard, to build a liquefied natural gas (LNG) carrier. The agreement includes an option for a second vessel and highlights Hanwha Group’s broader strategy to position itself at the forefront of U.S. regulatory changes requiring domestically built LNG carriers for American gas exports starting in 2029. The move comes amid a re

July 23, 2025

Sejong mayor presses for capital relocation, says structural reform is urgent

SEOUL, July 22 (AJP) - On Tuesday, Sejong City Mayor Choi Min-ho called for the full relocation of South Korea's presidential office and National Assembly to Sejong, saying that completing the city’s role as an administrative capital is essential to resolving regional imbalance and improving government efficiency. "Sejong and the completion of the administrative capital are not merely political issues but matters of Korea's future strategy," Choi said durin

July 22, 2025

HMM expands global port investments with major projects in Brazil, Spain

SEOUL, July 22 (AJP) - HMM, South Korea’s largest shipping company, is accelerating its push into international port terminal operations, targeting long-term leases and acquisitions as it seeks to cement its position in the global logistics market. The company plans to invest in terminals with operating rights spanning 20 to 30 years, generating revenue through vessel management, cargo handling, storage, and integrated logistics services. According to industry sources, HM

July 22, 2025

PHOTOS: Enduring ancient masterpiece in Gyeongju

SEOUL, July 22 (AJP) - Nestled on the slopes of Mount Tohams, the Seokguram Grotto stands as a testament to the apex of Buddhist art during the unified Silla Dynasty. Regarded as a paramount masterpiece, its creation began in 751 under the patronage of Kim Dae-seong, then the prime minister to King Gyeongdeok. The grotto was completed 23 years later, in 774 during the reign of King Hyegong. King Gyeongdeok's era (742-765) is celebrated as a golden age for Silla's Buddhi

July 22, 2025

North Korea lures foreign tourists with huge discounts for next year's marathon event

SEOUL, July 22 (AJP) - North Korea appears to be eager to earn hard currency, as it has already started offering deals for its annual marathon event for next spring. According to ads on Tuesday by Koryo Tours, a Beijing-based agency specializing in travel to the isolated country, early-bird discounts of 50 percent are available until Sept. 1 for those who sign up for the Pyongyang International Marathon, which is scheduled for April next year. Without detailed itineraries and oth

July 22, 2025

Hanwoo beef gets legislative backing as Korea aims to modernize cattle farming

SEOUL, July 22 (AJP) - South Korea has enacted a new law aimed at strengthening the nation's hanwoo beef industry. The Ministry of Agriculture, Food and Rural Affairs announced Tuesday that the so-called “Hanwoo Act” has been officially promulgated and will go into effect on July 23 next year. The legislation mandates that the government devise rolling five-year development plans for the premium Korean beef industry and provide direct financial support to cattle f

July 22, 2025

Court postpones another of Lee's trials indefinitely, bringing all his cases to halt

SEOUL, July 22 (AJP) - A district court on Tuesday decided to postpone President Lee Jae-myung's trial over alleged illegal money transfers to North Korea. The Suwon District Court in Gyeonggi Province said it made the decision in consideration of his status as president. "In order to ensure that the defendant (Lee) can fulfill his official duties guaranteed by the Constitution, we decided to postpone the trial to a later date for the sake of continuity in state affairs,

July 22, 2025

PHOTOS: Webtoon hit 'My Daughter Is a Zombie' comes to screen July 30

SEOUL, July 22 (AJP) - A press screening for the film "My Daughter Is a Zombie" was held Monday at Megabox COEX in Gangnam-gu, Seoul, offering a glimpse into the cinematic adaptation of the popular webtoon. The movie, which is scheduled for release on July 30, stars Cho Jung-seok, Lee Jung-eun, Cho Yeo-jeong, Yoon Kyung-ho, and Choi Yu-ri, and is based on a webtoon that has garnered more than 500 million views globally. Set against a backdrop of a sudden, unidentified

July 22, 2025

Hanwha Ocean tops post-merger performance among Korea's major corporate acquisitions

SEOUL, July 22 (AJP) - Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering, has emerged as the top-performing acquisition among major corporate takeovers by South Korea’s 30 largest conglomerates since 2015, according to an analysis released Tuesday by the corporate research firm Leaders Index. The report examined 20 acquisitions valued at over 500 billion won (approximately $365 million), assessing performance across key shareholder metrics including revenue

July 22, 2025