Former North Korean figurehead laid to rest in state funeral

SEOUL, November 6 (AJP) - A state funeral for North Korea's former nominal head of state Kim Yong-nam was held in Pyongyang on Wednesday with its leader Kim Jong-un in attendance, according to state media. The official Korean Central News Agency (KCNA) reported Thursday that the funeral service began with a eulogy by premier Pak Tae-song, praising the late senior official's "lifelong dedication" to the reclusive country. Mourners observed a moment of silence, fo

November 6, 2025

Samsung Heavy expands into US shipbuilding market with new partnership

SEOUL, November 06 (AJP) - Samsung Heavy Industries said on Thursday that it had signed a strategic partnership agreement with DSEC, a ship design and procurement company, in a move to expand into the U.S. shipbuilding market. DSEC, which works closely with American shipyards in areas such as vessel design, equipment supply, maintenance and technical consulting, is expected to provide a key bridge for Samsung’s entry into the U.S. market. The company’s expertise in U

November 6, 2025

Swiss banking delegation visits Toss Bank to explore digital banking in South Korea

SEOUL, November 06 (AJP) - A group of senior Swiss banking executives visited Toss Bank’s headquarters in Seoul on Wednesday to study South Korea’s rapidly evolving digital finance ecosystem, the company said Thursday. The 18-member delegation, organized by the Swiss Embassy in Seoul and telecommunications company Swisscom, was welcomed by Toss Bank’s chief executive, Lee Eun-mi, and other senior executives. During the meeting, Toss Bank shared its experie

November 6, 2025

North Korea denounces US sanctions, but remains cautious

SEOUL, November 6 (AJP) - North Korea strongly denounced the latest sanctions imposed by the U.S., vowing to take responsive measures "with patience," state media reported on Thursday. "The Korean Central News Agency (KCNA) reported, quoting Kim Un-chol, the isolate country'

November 6, 2025

Samsung Electronics acquires German heating, air conditioning firm

SEOUL, November 06 (AJP) - Samsung Electronics said on Thursday that it had completed its acquisition of FlaktGroup, a German heating, ventilation and air conditioning (HVAC) company, in a move to strengthen its presence in industrial solutions. FlaktGroup, founded more than a century ago, is one of Europe’s largest HVAC companies, supplying central air-conditioning and precision cooling systems for data centers, hospitals and large commercial buildings across more than

November 6, 2025

Signing of tariff deal with US delayed amid lingering issues

SEOUL, November 5 (AJP) - Doubts are deepening as South Korea and the U.S. are still fine-tuning a memorandum of understanding (MOU) for their recent tariff-related deal, which was finalized on the sidelines of last week's Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju. Shortly after President Lee Jae Myung's summit with his U.S. counterpart Donald Trump, the two leaders said they had resolved the remaining contentious issues, after th

November 5, 2025

Korean court voids 'Hyundai' trademark held by Puerto Rico-based company

SEOUL, November 05 (AJP) - South Korea’s Patent Court has invalidated the “Hyundai” trademark owned by Puerto Rico-based Hyundai Technology, ending a yearslong legal dispute over one of Korea’s most recognizable corporate names. The ruling, handed down in May, resolved a conflict that began in 2020 when Hyundai Technology filed suit over the use of the “Hyundai Connect” trademark. The case drew attention in South Korea’s business communi

November 5, 2025

POST-APEC: K-pop stars as vital economic and diplomatic leverage

SEOUL, November 05 (AJP) - "Oh my gat, the real one has arrived," K-pop star G-Dragon wrote on social media, sporting a black fedora draped with a pearl chain resembling a traditional Korean "gat" headpiece he wore while performing his latest hit "Power" at the APEC Leaders' Meeting gala in Gyeongju last Friday. The pun paired his fashion humor with a nod to the gat reimagined by the "Saja Boys" in Netflix's hit anime "KPop Demo

November 5, 2025

Korean battery makers seat ESS at the forefront of AI-age global drive

SEOUL, November 05 (AJP) - South Korean battery manufacturers are pressing ahead with aggressive global expansion and investment plans despite multiple headwinds - overcapacity worries, rising trade barriers, stalled growth in electric vehicles and China's overwhelming dominance - as they bet on rechargeable batteries becoming the dominant clean-energy infrastructure of the AI age. Top three battery makers are doubling their U.S. production capacity to 600 gigawatt-hours (GWh) a

November 5, 2025

Korea's platform giant Naver reaps best quarterly revenue with AI help

SEOUL, November 05 (AJP) - South Korea’s internet platform leader Naver Corp. posted its highest-ever quarterly revenue for the July–September period, powered by broad adoption of artificial intelligence across its businesses. According to the company’s regulatory filing Wednesday, operating profit rose 8.6 percent from a year earlier to 570.6 billion won ($394 million), while revenue jumped 15.6 percent to 3.138 trillion won ($2.17 billion). It is the first time i

November 5, 2025