Can upcoming APEC summit offer breakthrough in inter-Korean relations with Xi and Trump in attendance?

Chinese President Xi Jinping (left) and North Korean leader Kim Jong-un arrive at a state reception in Beijing on Sept. 3, 2025, marking the 80th anniversary of China's "Victory Day." TASS-Yonhap SEOUL, September 23 (AJP) - With Chinese President Xi Jinping set to visit South Korea for the Asia-Pacific Economic Cooperation (APEC) summit late next month, experts are speculating on a possible breakthrough in inter-Korean relations. South Korean President Lee Jae Myung'

September 23, 2025

Celltrion acquires New Jersey plant for $330 million to mitigate tariff risks

SEOUL, September 23 (AJP) - South Korea's Celltrion said Tuesday it had acquired an Eli Lilly manufacturing facility in New Jersey for about $330 million, a move aimed at expanding its U.S. presence and shielding the company from steep tariffs that could be imposed under the Trump administration. The 45,000-square-meter plant, which includes two production lines, will be operated by Celltrion USA. Chairman Seo Jung-jin said the purchase was part of a broader “Made in U

September 23, 2025

Korean memory giants await super bumper years on AI harvest

SEOUL, September 23 (AJP) - South Korea’s memory giants and investors are betting on a looming chip super cycle that could prove the most lucrative and enduring yet, fueled by the surging appetite for artificial intelligence (AI). SK hynix is poised to lead the AI-driven memory race, having leapt ahead in conventional DRAM and seized the initiative in high-bandwidth memory (HBM), a critical component for powering AI chips. The company is expected to command at least half of

September 23, 2025

Hyundai Capital launches financing services for car buyers in Indonesia

SEOUL, September 23 (AJP) - South Korean financing company Hyundai Capital said Tuesday it had launched a new automotive finance company in Indonesia, aiming to strengthen its foothold in one of Southeast Asia’s fastest-growing car markets. The joint venture, created with Indonesia’s Sinarmas conglomerate and Shinhan Bank Indonesia, will operate under the brand name Hyundai Finance. The company plans to offer a suite of services for car buyers, including deferred

September 23, 2025

LIG Nex1 signs pact with Airbus to bolster air defense cooperation

SEOUL, September 23 (AJP) - South Korean defense firm LIG Nex1 said Tuesday it had signed an agreement with Airbus Defense and Space to expand collaboration on integrated air defense systems. The agreement, finalized on Sept. 22 at LIG Nex1’s headquarters in Pangyo, Gyeonggi Province, builds on an earlier pact signed during the Seoul International Aerospace and Defense Exhibition in 2023. Company officials said the latest deal aims to strengthen research in integrated a

September 23, 2025

Samsung heir begins naval officer training to become ensign

SEOUL, September 23 (AJP) - Lee Ji-ho, the son of Samsung Electronics Chairman Lee Jae-yong, began his military service as a naval officer candidate with a ceremony in Jinhae, South Gyeongsang Province on Tuesday. Of the 84 candidates who enrolled last Monday, 83 attended the ceremony after one male candidate withdrew. They will undergo 10 weeks of combat training, including marksmanship, chemical, biological, and radiological (CBR) defense drills as well as exercises involving in

September 23, 2025

Celltrion shares jump on deal to acquire Eli Lilly and fend off US tariff risks

SEOUL, September 23 (AJP) - South Korean biopharmaceutical company Celltrion's shares surged upon a major M&A deal in the United States, setting the contract-based drug maker better positioned against U.S. tariff exposure. The company said on Tuesday its U.S. operation signed a deal to acquire Eli Lilly's biopharmaceutical manufacturing facility in Branchburg, New Jersey for about 460 billion won ($330 million), with an aim to close the deal by the end of the year. Sh

September 23, 2025

PHOTOS: The present and future of the Korean Army at Gyeryongdae airstrip

SEOUL, September 23 (AJP) - From the moment visitors passed through the main gate of Gyeryongdae and walked toward the venue, there was a palpable sense of tension and anticipation. The chance to see up close the military equipment usually only seen on television quickened their steps. Upon entering the airstrip with the guidance of soldiers, the scale was overwhelming. Massive tanks stood proudly with their barrels pointed skyward, helicopters spread their rotor blades wide, and

September 23, 2025

Lotte exit from Ho Chi Minh property project exposes risks in Vietnam

SEOUL, September 23 (AJP) - South Korea’s Lotte Group has officially withdrawn from a large-scale property development in Ho Chi Minh City after completing documentation for its exit, according to regulatory filings. The company concluded that the Thu Thiem Eco Smart City project had become “financially unfeasible” as costs ballooned due to regulatory delays and surging land prices. The project, on a 74,513 m² site with a 50,000 m² development area in f

September 23, 2025

Homegrown multi-purpose satellite shipped to South America ahead of launch in November

SEOUL, September 23 (AJP) - A multi-purpose satellite, dubbed "Arirang 7," has been shipped to South America, the Korea AeroSpace Administration (KASA) said on Tuesday. The satellite, equipped with an ultra-high-resolution electro-optical camera, left the KASA in Daejeon on a freight aircraft bound for the Guiana Space Center in Kourou, French Guiana. The homegrown satellite, expected to arrive there on Thursday, is being transported in a specially designed, vibration

September 23, 2025