Pyongyang's new ICBM blends technical ambition with political theater

SEOUL, October 13 (AJP) - North Korea unveiled a new intercontinental ballistic missile (ICBM), the Hwasong-20, during a military parade in Pyongyang last Friday, underscoring its continued drive to advance long-range missile capabilities—possibly with Russian assistance—and to strengthen its leverage ahead of any potential resumption of dialogue with the United States. The Oct. 10 parade, marking the 80th anniversary of the founding of the Workers' Party of Korea, s

October 13, 2025

LG Elec Q3 results beat forecasts, raising fanfare ahead of India stock debut

SEOUL, October 13 (AJP) - South Korea’s top consumer goods maker LG Electronics posted stronger-than-expected third-quarter earnings on Monday, driven by record automotive electronics sales, setting the stage for its Indian unit’s stock market debut on a buoyant note. According to its preliminary earnings release on Wednesday, the home appliance and consumer goods giant reported an operating profit of 688.9 billion won ($515 million) for the July–September period

October 13, 2025

USD-KRW nears annual highs as trade talks stall, China tensions mount

SEOUL, October 13 (AJP) - South Korean authorities issued a strong verbal warning – and possibly followed up by won-propping action - on Monday, after the U.S. dollar hovered above the psychologically important 1,430-won mark amid stalled tariff negotiations with Washington and renewed trade tensions between the United States and China. The won opened at 1,430.0 per dollar, up 9.0 won from the previous session, briefly touching 1,434.0 before stabilizing in the mid-1,420s. I

October 13, 2025

South Korea's industry minister defends Czech nuclear deal

SEOUL, October 13 (AJP) - South Korea’s industry minister on Monday defended the country’s contentious nuclear power contract with the Czech Republic, calling it a “standard agreement” despite mounting criticism over its terms and the involvement of U.S. nuclear firm Westinghouse. Speaking during a parliamentary audit, Industry Minister Kim Jung-gwan acknowledged that “every agreement has its pros and cons,” but argued that the deal gives Sout

October 13, 2025

Korean firm wins manufacturing contract for US shingles vaccine

SEOUL, October 13 (AJP) - South Korea's GC Biopharma said Monday it has secured contract manufacturing rights for a shingles vaccine being developed by its U.S. affiliate, Curevo Vaccine. Under the agreement, GC Biopharma will produce part of the commercial supply of the vaccine, known by its project name amezosvatein (CRV-101). The product aims to challenge GlaxoSmithKline’s Shingrix, which has dominated the shingles vaccine market for years. The global market for

October 13, 2025

Taiwan leaps ahead on AI boom as South Korea staggers

SEOUL, October 13 (AJP) - Once regarded as twin Asian tigers for their industrial and geographic similarities, South Korea and Taiwan are now charting divergent paths — Taiwan riding high on the artificial intelligence boom, while South Korea struggles under structural and demographic headwinds. Taiwan's economy is projected to grow 5.3 percent this year, upgraded from 4.5 percent in a consensus of eight global banks in late August. South Korea, by contrast, is expected to

October 13, 2025

Korean-made gas turbines will be exported to US for first time

SEOUL, October 13 (AJP) - South Korea's Doosan Enerbility said Monday that it has signed a deal to export two large gas turbines to the United States, marking South Korea’s first overseas shipment of domestically developed turbine technology. Under the agreement, Doosan will supply two 380-megawatt gas turbines to a major U.S. technology company by the end of next year. The company did not identify the buyer but described the contract as a landmark step in its push

October 13, 2025

South Korea's OCI Holdings to acquire solar wafer plant in Vietnam

SEOUL, October 13 (AJP) - OCI TerraSus, a wholly owned subsidiary of South Korea’s OCI Holdings, said Monday that it has established a new company in Singapore to take a majority stake in a solar wafer plant in Vietnam — a move aimed at strengthening its supply chain for U.S.-bound solar products. The new entity, OCI ONE, will acquire a 65 percent stake in a wafer plant built by Elite Solar Power Wafer in Vietnam. The facility, expected to be completed by the end

October 13, 2025

Seoul raises alert, protection for Koreans in Cambodia amid rising crimes

SEOUL, October 13 (AJP) - South Korea is beefing up protection measures for its nationals abroad following the violent killing of a Korean college student in Cambodia. National Security Adviser Wi Sung-lac on Monday chaired a task force meeting at the presidential office with senior officials from the Foreign Ministry, Justice Ministry, and National Police Agency to devise coordinated action against the recent murder and related crimes. President Lee Jae-myung over the weekend ord

October 13, 2025

Korea's shipping industry urges POSCO to abandon bid for HMM

SEOUL, October 13 (AJP) - South Korea’s shipping industry is pushing back against steel giant POSCO Group’s reported plan to acquire HMM, the nation’s largest container carrier, warning that such a move could destabilize the sector and undermine decades of maritime expertise. The Korea Shipping Association said in a statement on Monday that it had submitted a formal letter to POSCO Chairman Jang In-hwa, urging the company to withdraw from the bidding process.

October 13, 2025