INTERVIEW: Turkish envoy highlights robust ties with Seoul, seeks further cooperation

SEOUL, February 6 (AJP) - Trade between South Korea and Türkiye remained robust, even at the height of the global disruptions and challenges caused by the coronavirus pandemic, reflecting their strong bilateral relations. Currently, trade volume between the two countries stands at approximately US$11 billion, with Türkiye exporting goods worth US$886 million to South Korea and importing $5.65 billion. "Unlike the global decline in trade volume, exchanges between th

February 6, 2025

Current account surplus soars to $99 billion in 2024

SEOUL, February 6 (AJP) - South Korea’s current account surplus surged to $12.37 billion in December last year, the highest monthly figure for the month on record, fueled by robust exports and rising dividends from overseas investments, the Bank of Korea said Thursday in a preliminary report. For the full year, the country’s current account surplus soared to $99.04 billion, more than tripling from $32.82 billion in 2023 and exceeding the central bank’s projection o

February 6, 2025

L&F considers US production of key battery material

SEOUL, February 06 (AJP) - South Korean manufacturer of battery materials, L&F, is exploring the direct production of lithium iron phosphate (LFP) cathode materials in the United States in the face of potential trade restrictions under the Donald Trump administration. L&F officials said the company is pursuing a dual approach to its LFP business, considering both domestic production in South Korea and establishing manufacturing in the U.S. The company plans to unveil detai

February 6, 2025

Korean firms join government in blocking access to DeepSeek

SEOUL, February 6 (AJP) - South Korean firms have banned the use of the Chinese artificial intelligence model DeepSeek, citing concerns over potential data breaches and security risks. Leading companies, including Samsung, SK Group, and LG Electronics, have reinforced cybersecurity measures by blocking access to external generative AI tools. Kakao and LG Uplus have prohibited employees from using DeepSeek for work-related tasks. The decisions follows a broader government direc

February 6, 2025

Xiaomi sprawling into AI, EV markets, challenging industry giants

Editor's Note: This article is the fifth installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, February 5 (AJP) - Xiaomi, the Chinese electronics company known for its budget-friendly yet feature-rich devices, has intensified its global expansion, making a bold foray into South Korea, a stronghold of rival Samsung Electronics. The tech giant officially int

February 6, 2025

Samsung's tri-fold Galaxy G Fold will hit market this year

SEOUL, February 05 (AJP) - Samsung Electronics is gearing up to introduce its latest innovation in the foldable smartphone market: the "Galaxy G Fold," a tri-fold device that could compete with Huawei's Mate XT. The Galaxy G Fold will feature a 9.96-inch display when fully unfolded, significantly larger than the 7.6-inch screen of the Galaxy Z Fold 6. When folded, the device will compact to a more pocket-friendly 6.54 inches, offering users a blend of portability and

February 6, 2025

Korean battery makers struggle amid EV market slowdown

SEOUL, February 5 (AJP) - South Korean battery manufacturers are facing mounting challenges as the electric vehicle (EV) market experiences a temporary slowdown. The downturn marks a stark contrast to the industry’s boom just two years ago, when major player LG Energy Solution awarded performance bonuses of up to 900 percent of base salaries. Now, those bonuses have dwindled to a mere 50 percent. Samsung SDI’s battery division recorded no excess profit-sharing last ye

February 6, 2025

South Korea restricts state bodies from using AI chatbots

SEOUL, February 5 (AJP) -- South Korea's intelligence and security agencies have ordered government departments and state-owned companies to refrain from using artificial intelligence chatbots, citing national security concerns over potential data leaks, officials said Wednesday. The National Intelligence Service (NIS) and the Ministry of the Interior and Safety issued security guidelines to all government ministries on Feb. 4, specifically warning against inputting confidential

February 5, 2025

PHOTOS: Winter's special gift – Snow flower hike

SEOUL, February 03 (AJP) - A special gift of winter – a snow flower hike A snow flower hike is a special experience you can only enjoy in winter. Snow flowers, also known as "sanggodae," occur when moisture in the air freezes on tree branches, blooming like flowers. Since sanggodae melts when temperatures rise above freezing, it can usually be seen in high-altitude areas over 1,000 meters above sea level. Fortunately, Korea has several mountains that meet this req

February 5, 2025

Member of '90s Mexican alternative rock band joins HYBE's new Latin American label

SEOUL, February 5 (AJP) - Emmanuel del Real, a Mexican singer and guitarist known as "Meme," has joined a new label under HYBE, the agency behind BTS, targeting Latin American fans. The agency said Wednesday that it has established its Mexico-based label called Docemil Music and signed Meme as its first artist. Meme is a member of Mexico's leading alternative rock band Café Tacvba, which gained fame with live concerts at garages and pubs, enjoying their heyda

February 5, 2025