Korea's first private rocket crashes after liftoff, Innospace shares nosedive

SEOUL, December 23 (AJP) -South Korean space startup Innospace said Tuesday that its Hanbit-Nano rocket lifted off normally from Brazil but crashed about 30 seconds later after an in-flight anomaly, ending the country’s first attempt by a private firm to place customer satellites into orbit. The two-stage Hanbit-Nano vehicle launched at 10:13 p.m. Monday local time (10:13 a.m. Tuesday in Korea) from Alcantara Space Center, the company said. The first-stage engine ignited a

December 23, 2025

South Korea's Shinhan Card reports leak of data on 190,000 merchants

Shinhan Card headquarters in Seoul/ Courtesy of Shinhan Card SEOUL, December 23 (AJP) - Shinhan Card said on Tuesday information on about 190,000 merchants, including store owners’ mobile phone numbers, was leaked in an incident caused by an employee rather than a cyberattack. According to financial industry sources, Shinhan Card confirmed the data leak through an internal investigation and reported the case to the country's Personal Information Protection Commission (PIPC).

December 23, 2025

LIG Nex1 to develop core technologies for Korea's combat unmanned surface vessel

SEOUL, December 23 (AJP) - South Korean defense company LIG Nex1 has begun developing core technologies for a combat unmanned surface vessel (USV), in a move aimed at advancing the Navy’s manned-unmanned combined maritime combat capability. LIG Nex1 said on Tuesday it signed an agreement on Dec. 19 with the Korea Institute for Advancement of Technology (KIAT) to develop an integrated control system and an autonomous mission system for a combat USV under a packaged weapon-sys

December 23, 2025

Korea's bio-health exports eye bumper year in 2026 on global growth

Editor's Note: This is the fourth installment in AJP's 2026 outlook series on South Korea's key industries. SEOUL, December 23 (AJP) - South Korea’s bio-health industry — spanning pharmaceuticals, medical devices and cosmetics — is set for a record year in 2026, with total exports expected to surpass the $30 billion mark, powered by the country’s strength in contract manufacturing and the global expansion of K-beauty. According to the Korea Hea

December 23, 2025

Bank of Korea flags growing investor preference for overseas stocks

SEOUL, December 23 (AJP) - South Korean retail investors have been taking profits when local share prices rise while continuing to buy overseas stocks, a shift the central bank linked to differences in long-term return expectations. In its Financial Stability Report released on Tuesday, the Bank of Korea (BOK) said that from July to October — when both South Korean and U.S. equity markets were rising — individual investors were net sellers of 23 trillion won in dom

December 23, 2025

US nuclear-powered submarine docks in Busan to replenish supplies

SEOUL, December 23 (AJP) - The USS Greenville arrived on Tuesday in South Korea's southern port city of Busan to replenish supplies and provide rest for crew members. The Los Angeles-class nuclear-powered attack submarine Greeneville, named after Greeneville, Tennessee, will engage in activities to strengthen cooperation between the two allies, according to the South Korean Navy. The submarine, which is 110 meters long and 10 meters wide, is equipped with Tomahawk cruise mi

December 23, 2025

POSCO invests $3 million in US humanoid robot startup in push for 'physical AI'

SEOUL, December 23 (AJP) - POSCO DX is making a strategic investment in a U.S.-based industrial humanoid robot startup as it seeks to accelerate automation and improve safety at heavy industrial sites such as steel mills. POSCO DX, led by Chief Executive Shim Min-seok, said on Tuesday it will invest $2 million in Persona AI and collaborate with the company on joint robot development. Including a separate $1 million investment from a fund backed by POSCO Technology Investment, the

December 23, 2025

Nearly 90% of North Korean defectors satisfied with life in South Korea, survey finds

SEOUL, December 23 (AJP) - About eight in 10 North Korean defectors say they are satisfied with their new life in South Korea, a survey reveals. The Korea Hana Foundation on Tuesday released its survey of around 2,500 North Korean defectors who arrived in Seoul between January 1997 and December last year. This year's survey, conducted through face-to-face interviews by about 76 specialized counselors, with a response rate of 86.4 percent or around 2,160 respondents, found tha

December 23, 2025

Hyundai E&C joins offshore wind farm project in $480 million deal

SEOUL, December 23 (AJP) - Hyundai Engineering & Construction (Hyundai E&C) said on Tuesday it has signed a construction contract worth 668.4 billion won ($480 million) to participate in an offshore wind farm project off Sinan, South Jeolla Province, a development with a total construction cost of 2.64 trillion won. The project, led by Hanwha Ocean, calls for the installation of 26 offshore wind turbines, each with a capacity of 15 megawatts, in waters southeast of Uido

December 23, 2025

Korean automaker KGM partners with Samsung SDI on developing EV battery packs

SEOUL, December 23 (AJP) - South Korean automaker KG Mobility (KGM) has signed a memorandum of understanding with Samsung SDI to form a strategic partnership aimed at developing and commercializing electric vehicle battery packs. Under the agreement, the two companies will jointly develop cylindrical nickel-cobalt-aluminum (NCA) battery packs and cooperate closely on high-voltage battery pack development, testing and production. The project will use Samsung SDI’s cylind

December 23, 2025