Taiwan leaps ahead on AI boom as South Korea staggers

SEOUL, October 13 (AJP) - Once regarded as twin Asian tigers for their industrial and geographic similarities, South Korea and Taiwan are now charting divergent paths — Taiwan riding high on the artificial intelligence boom, while South Korea struggles under structural and demographic headwinds. Taiwan's economy is projected to grow 5.3 percent this year, upgraded from 4.5 percent in a consensus of eight global banks in late August. South Korea, by contrast, is expected to

October 13, 2025

Korean-made gas turbines will be exported to US for first time

SEOUL, October 13 (AJP) - South Korea's Doosan Enerbility said Monday that it has signed a deal to export two large gas turbines to the United States, marking South Korea’s first overseas shipment of domestically developed turbine technology. Under the agreement, Doosan will supply two 380-megawatt gas turbines to a major U.S. technology company by the end of next year. The company did not identify the buyer but described the contract as a landmark step in its push

October 13, 2025

South Korea's OCI Holdings to acquire solar wafer plant in Vietnam

SEOUL, October 13 (AJP) - OCI TerraSus, a wholly owned subsidiary of South Korea’s OCI Holdings, said Monday that it has established a new company in Singapore to take a majority stake in a solar wafer plant in Vietnam — a move aimed at strengthening its supply chain for U.S.-bound solar products. The new entity, OCI ONE, will acquire a 65 percent stake in a wafer plant built by Elite Solar Power Wafer in Vietnam. The facility, expected to be completed by the end

October 13, 2025

Seoul raises alert, protection for Koreans in Cambodia amid rising crimes

SEOUL, October 13 (AJP) - South Korea is beefing up protection measures for its nationals abroad following the violent killing of a Korean college student in Cambodia. National Security Adviser Wi Sung-lac on Monday chaired a task force meeting at the presidential office with senior officials from the Foreign Ministry, Justice Ministry, and National Police Agency to devise coordinated action against the recent murder and related crimes. President Lee Jae-myung over the weekend ord

October 13, 2025

Korea's shipping industry urges POSCO to abandon bid for HMM

SEOUL, October 13 (AJP) - South Korea’s shipping industry is pushing back against steel giant POSCO Group’s reported plan to acquire HMM, the nation’s largest container carrier, warning that such a move could destabilize the sector and undermine decades of maritime expertise. The Korea Shipping Association said in a statement on Monday that it had submitted a formal letter to POSCO Chairman Jang In-hwa, urging the company to withdraw from the bidding process.

October 13, 2025

Seoul moves to confront rising crimes against Koreans in Cambodia

SEOUL, October 13 (AJP) - South Korea’s presidential office convened a task force meeting on Monday to address a surge in crimes targeting South Korean nationals in Cambodia, including a string of abductions and job-related scams that have alarmed families and prompted calls for stronger protection measures. Wi Sung-lak, head of the National Security Office, chaired the meeting, which brought together senior officials from the Foreign Ministry, Justice Ministry, and Nati

October 13, 2025

Battery materials maker EcoPro BM to establish European subsidiary

SEOUL, October 13 (AJP) - South Korean battery materials producer EcoPro BM plans to turn its German liaison office into a full-fledged sales subsidiary as it seeks to deepen its presence in Europe’s fast-growing electric vehicle market. The move, announced Monday, marks a strategic step for the company to expand beyond its core cathode materials business into recycling, while broadening its customer base across the region. As Europe accelerates its shift toward electri

October 13, 2025

LG Energy Solution Q3 profit surges 34% on pre-expiry U.S. EV credit boost

SEOUL, October 13 (AJP) - South Korea’s top battery maker LG Energy Solution said Monday its third-quarter operating profit likely jumped 34 percent from a year earlier, lifted by increased electric-vehicle (EV) battery purchases ahead of the expiration of federal EV tax credits in the United States. In a preliminary earnings estimate for the quarter ended September, the company projected an operating profit of 601.3 billion won ($422.8 million), up from 448.3 billion

October 13, 2025

South Korea ranks second in antibiotic use among OECD nations

SEOUL, October 13 (AJP) - South Korea ranks second among developed nations in antibiotic consumption, raising alarm among health authorities over growing risks of drug resistance. According to data from the Korea Disease Control and Prevention Agency (KDCA) and the Organization for Economic Cooperation and Development, South Koreans used 31.8 defined daily doses (DID) of antibiotics per 1,000 people per day in 2023 — the second highest level among OECD members. The figu

October 13, 2025

KAIST launches nationwide campaign to share failures on International Day of Failure

SEOUL, October 13 (AJP) - KAIST has launched a national campaign inviting people to share their everyday mistakes to mark the International Day of Failure on October 13, highlighting the idea that failure is the starting point of innovation and challenge. "Failure should not be feared. A culture that accepts it is the basis of creativity and progress," said KAIST President Lee Kwang-hyung. "Even for just one day, I hope everyone will recall a small failure they expe

October 13, 2025