South Korean shipbuilders regain 20 percent market share despite global slump

SEOUL, December 28 (AJP) - South Korean shipbuilders have successfully defended their order books this year, regaining a 20 percent global market share despite a sharp downturn in worldwide vessel orders, industry data showed Sunday. South Korea currently stands as one of the world's two dominant shipbuilding nations, locked in a fierce rivalry with China. While China often leads in sheer volume, South Korea has carved out a stronghold in the market for high-value, high-tech

December 28, 2025

Franchise chicken stores top 30,000 in South Korea as major brands dominate

SEOUL, December 28 (AJP) - The number of franchise fried chicken stores in South Korea has surpassed 30,000 for the first time, the National Data Agency said Sunday, driven by the expansion of major chains even as independent shops struggle to survive. In South Korea, fried chicken is more than just fast food. It is a cultural staple comparable to pizza in the United States. The combination of chicken and beer, known locally as "chimaek," is a ritual for sporting events

December 28, 2025

Fire breaks out at motorcycle repair shop in Namyangju

SEOUL, December 27 (AJP) - A fire broke out at a motorcycle repair shop in Namyangju, south of Seoul, authorities said Saturday. Fire officials said the blaze started about 2:55 p.m. at the shop in Byeollae-myeon, Namyangju, in Gyeonggi province. Black smoke rose from the building, prompting a series of calls from nearby residents. No casualties had been confirmed as of Saturday afternoon. Firefighters deployed 31 pieces of equipment and 78 personnel to contain the flames. P

December 27, 2025

Mergers, pricing wars and tighter rules reshape South Korea's content industry in 2025

SEOUL, December 27 (AJP) - Consolidation trumped expansion as the dominant narrative across South Korea's gaming, streaming and webtoon sectors this year, as domestic platforms merged to survive, regulators tightened oversight and companies raced to secure global distribution deals. Streaming services combined subscriber bases while freezing prices under regulatory pressure. Webtoon publishers transformed anti-piracy operations from cost centers into strategic advantages. And ga

December 27, 2025

Coupang shares jump 6% in New York after company releases probe findings on data leak

SEOUL, December 27 (AJP) - Coupang shares rose on the New York Stock Exchange (NYSE) on Friday (local time), the first trading day after the company released its own findings on a major personal data leak. Coupang Inc., the parent company of the e-commerce firm, closed up 6.45 percent at $24.27 on the NYSE. U.S. markets were closed the previous day for Christmas, making Friday the first session after the announcement. Coupang said in a news release on Thursday that it had ide

December 27, 2025

LG Energy Solution hit by $9 bn deal loss this month as FBPS scraps $3 bn contract

SEOUL, December 26 (AJP) -LG Energy Solution (LGES) has terminated a 3.9 trillion won ($2.7 billion) battery supply contract with Freudenberg Battery Power Systems (FBPS), marking a second major cancellation in quick succession as the Korean battery maker grapples with a slowdown in the global electric-vehicle market. In a regulatory filing Friday, the South Korean battery maker said it mutually agreed with FBPS to end the contract after the U.S.-based company decided to withdraw fr

December 26, 2025

Korea's No.2 retailer Shinsegae loses data on 80,000 employees and subcontractors

SEOUL, December 26 (AJP) -Shinsegae Group has become another South Korean major retailer to report data breach involving 80,000 employees and workers at partner companies, although no customer data was compromised. Shinsegae I&C, the group’s information technology arm, said Friday it had detected signs of unauthorized access to its internal intranet and confirmed that employee-related data had been leaked. The exposed information includes corporate ID numbers, name

December 26, 2025

OPINION: Yasukuni Shrine and Japan's quiet sanitization of its WWII crimes

SEOUL, December 26 (AJP) - Japan often portrays itself as a paragon of modern civility - an orderly, technologically sophisticated society known for its consumer electronics, comics and clean toilets. However, that carefully cultivated image of

December 26, 2025

Mirae Asset Securities prepares to launch omnibus accounts for foreign investors

SEOUL, December 26 (AJP) - Mirae Asset Securities is preparing to introduce omnibus accounts that would allow foreign investors to trade South Korean stocks without opening local brokerage accounts, according to industry sources. The securities firm is developing systems and updating contract documents while working with overseas affiliates in the United States and Europe to prepare for account openings and service launches, industry officials said Friday. Omnibus accounts enable

December 26, 2025

Defense and unification ministries hold joint session on potential inter-Korean military talks

SEOUL, December 26 (AJP) - South Korea’s Ministry of National Defense (MND) and Ministry of Unification (MOU) held a joint workshop on Friday to prepare for potential military dialogue with North Korea, despite the lack of a response from Pyongyang regarding recent proposals. The session, held at the Office of Inter-Korean Dialogue in central Seoul, focused on inter-agency coordination and reviewing readiness measures for future negotiations. During the workshop, defen

December 26, 2025