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  Korea's top conglomerates vow near $700 bn domestic investment, doubling US commitment SEOUL, November 16 (AJP) - South Korea’s four largest conglomerates — Samsung, SK, Hyundai and LG — pledged more than 1,000 trillion won ($687 billion) in domestic investment over the next five years, vowing to build new AI, semiconductor and hydrogen hubs outside the capital region to counter concerns that Seoul’s $350 billion U.S. investment commitment could drain high-tech capacity and jobs from home. The massive investment plans were laid out during a two-hou November 16, 2025
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  PM orders safety measures for Han River ferry service after another accident SEOUL, November 16 (AJP) - Prime Minister Kim Min-seok on Sunday instructed city officials to conduct a thorough investigation into the cause of an accident involving a water ferry service along the Han River. His instruction came a day after one of the boats stalled near a dock in Jamsil, southern Seoul, while passing through shallow waters. Although there were no casualties or injuries, all 82 passengers aboard were frightened before being safely rescued. Stressed the need to November 16, 2025
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  US Navy chief tours South Korean shipyards as MASGA project gears up SEOUL, November 16 (AJP) - South Korea's leading shipbuilders, HD Hyundai Heavy Industries and Hanwha Ocean, said Sunday that U.S. Navy Chief Adm. Daryl Caudle visited their shipyards in the southern port cities of Ulsan and Geoje the previous day. His visit, accompanied by Kevin Kim, Chargé d'Affaires ad interim, and other officials, came just a day after South Korea and the U.S. released a joint fact sheet detailing their trade and security agreements, which inclu November 16, 2025
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  Registrations of electric vehicles surpass 200,000 in South Korea this year SEOUL, November 16 (AJP) - The number of registered electric vehicles in South Korea have exceeded over 200,000 units this year, the Ministry of Climate, Energy, and Environment said on Sunday. According to the ministry, 200,650 electric vehicles have been registered so far this year, surpassing the previous record of 164,486 set in 2022. The government's efforts to promote electric vehicles have driven sales from 100,000 units in 2021 to over 200,000 units in just four yea November 16, 2025
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  Consumers turn to used cars as new compacts remain scarce SEOUL, November 16 (AJP) - As the economic downturn deepens, consumers are turning to used cars, while new small and compact models stay off the market. According to sales figures released on Sunday by the country's five major automakers Hyundai, Kia, GM Korea, Renault Korea, and KG Mobility, the combined sales of small vehicles in the first ten months of this year stood at around 60,000 units, down 27.3 percent from the same period last year. If this trend continues, annual November 16, 2025
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  Despite drone boom, South Korea lags behind amid heavy reliance on Chinese components SEOUL, November 14 (AJP) - South Korea's exports of drones have grown nearly tenfold over the past two years, yet the country still holds less than 0.5 percent of the global market. According to a report released on Friday by the Korea International Trade Association (KITA), the country's exports of drones surged from $2.81 million in 2022 to $27.54 million in 2024. "Despite the rise in export volumes, the country's market competitiveness still lags far behind th November 14, 2025
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  HOT STOCK: ABL Bio extends rally as Eli Lilly deal spurs biotech optimism SEOUL, November 14 (AJP) - Shares of South Korean biotech company ABL Bio rose 6.5 percent Friday to 174,200 won ($119), extending a three-day rally that has propelled the stock into the top tier of the local market. At one point during trading, the stock jumped more than 17 percent. The surge follows ABL Bio’s announcement Wednesday of a major licensing agreement with U.S. pharmaceutical giant Eli Lilly. The deal, which could ultimately be worth up to 3.8 trillion won ($ November 14, 2025
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  Samsung showcases AI-powered 6G communication in Silicon Valley SEOUL, November 14 (AJP) - Samsung Electronics on Friday hosted the Silicon Valley Future Wireless Summit 2025, showcasing its latest strides in artificial intelligence-driven communication systems and reaffirming its position at the forefront of next-generation 6G technology. The event drew more than 100 leaders from global telecom carriers, equipment manufacturers, government agencies, and academia. Samsung used the summit to present its advances in AI-native communication sy November 14, 2025
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  Asian stocks tumble as Wall Street tech selloff, Fed uncertainty weigh on region SEOUL, November 14 (AJP) - Asian markets tumbled on Friday, dragged down by a sharp selloff in Wall Street’s biggest technology names and growing doubts over the Federal Reserve’s timetable for cutting interest rates. South Korea bore the brunt of the regional downturn. The benchmark KOSPI plunged 3.81 percent to close at 4,011.57, marking the steepest decline among major Asian indexes. Foreign investors offloaded 2.36 trillion won, or about $1.6 billion, in Kore November 14, 2025
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  Belgium marks King's Day in Seoul with focus on deepening ties SEOUL, November 14 (AJP) - The Embassy of the Kingdom of Belgium hosted a King's Day reception in Seoul on November 13, 2025, bringing together about 200 diplomats, business figures, academics, and media representatives at the Four Seasons Hotel. The evening combined national-day tradition with a look ahead to the 125th anniversary of Belgium–South Korea diplomatic relations next year. Opening his remarks, Ambassador Bruno Jans greeted the audience by saying, "Good November 14, 2025