Hyundai Motor Group overtakes Volkswagen in profitability, claims global No. 2 spot SEOUL, March 11 (AJP) - Hyundai Motor Group surpassed Volkswagen Group in annual operating profit for the first time last year, securing the No. 2 position among global automakers in a milestone that underscores the South Korean conglomerate's rising dominance in an increasingly competitive industry. The group, which encompasses Hyundai Motor Company, Kia and premium line Genesis, posted a combined operating profit of 20.55 trillion won ($13.99 billion) in 2025, comfortably ecli March 11, 2026

North Korea conducts another missile test from new destroyer SEOUL, March 11 (AJP) - North Korea has conducted another test‑firing of strategic cruise missiles from its new destroyer, state media reported on Wednesday. According to the state-run Korean Central News Agency (KCNA), leader Kim Jong‑un observed the test through a monitor the previous day, accompanied by his daughter Ju‑ae. The test comes less than a week after a similar test conducted at a shipyard in Nampo and also coincides with the annual joint military exercises be March 11, 2026

Hanwha Advanced Materials showcases lightweight composite solutions for EVs at global convention SEOUL, March 11 (AJP) - Hanwha Advanced Materials is presenting a suite of lightweight composite solutions for electric vehicles at JEC World 2026, the world's largest composites exhibition running from Tuesday to Thursday in Paris, as the South Korean materials maker ramps up its push into the global mobility market. The company is exhibiting products designed to address two pivotal challenges in EV development — weight reduction and safety — including a lightweight March 11, 2026

Toss Bank faces FSS investigation after transaction glitch SEOUL, March 11 (AJP) — The Financial Supervisory Service (FSS) is set to conduct an on-site inspection of online banking platform Toss Bank on Wednesday. The inspection comes a day after an error in Toss's foreign exchange system that resulted in massive financial losses. At around 7:30 p.m. the previous day, a glitch in its mobile app allowed users to exchange yen at a rate of roughly 470 Korean won per 100 yen. Given that the actual market rate was approximately 934 won March 11, 2026

Celltrion launches Remsima liquid formulation in Europe, wins Nordic tenders SEOUL, March 11 (AJP) - South Korean biosimilar giant Celltrion announced Wednesday it has launched a liquid formulation of its flagship infliximab treatment Remsima IV in Europe, securing government tender contracts in Denmark and Norway in an early push to tighten its grip on the continent's infliximab market. The new formulation, which received European Commission approval in November, is the world's only liquid version of intravenous infliximab. Available in 100 mg and 3 March 11, 2026

North Korea says it 'respects' Iran's choice of new leader SEOUL, March 11 (AJP) - North Korea said on Wednesday it "respects" the election of Iran's new leader Mojtaba Khamenei, who was named to succeed after his father was killed in U.S.-Israeli airstrikes early this month. According to the state-run Korean Central News Agency (KCNA), the country's Foreign Ministry said in a question-and-answer session the previous day that it "respects the rights and choice of the Iranian people to elect their supreme leade March 11, 2026

Samsung, SK to retire $14 bn worth shares to steady KOSPI after war shock SEOUL, March 10 (AJP) -South Korea’s two most influential corporate names unveiled more than 21 trillion won ($14.3 billion) worth of share retirements on Tuesday, a sweeping shareholder-return move that could help stabilize the country’s stock market after the Middle East war abruptly halted its record rally. Samsung Electronics said it will retire roughly 87 million treasury shares in the first half of this year, equivalent to about 16 trillion won based on Tuesday&r March 10, 2026

Tools to detect deepfakes and voting fraud showcased ahead of local elections SEOUL, March 10 (AJP) - A demonstration to detect artificial intelligence (AI)-generated deepfakes and prevent other election-related fraud was held at the government complex in central Seoul on Tuesday. It was part of efforts by the Ministry of the Interior and Safety to prevent any illegal activities in voting and other violations ahead of local elections slated for early June. The ministry said it has worked with the National Forensic Service since 2024 and ca March 10, 2026

No booze, just brews: Morning rave in Seoul SEOUL, March 10 (AJP) -Music filled a beauty brand store in Bukchon, central Seoul, early in the morning as people gathered with coffee cups in hand, swaying to a DJ set to begin the day. The gathering followed the format of a “morning rave,” a lifestyle event gaining popularity overseas. Instead of alcohol and late-night partying, participants came for music, coffee and conversation. Around 200 people attended, moving between dance space, makeup experiences and person March 10, 2026

Seoul may revive decades-old fuel price cap, but experts urge caution SEOUL, March 10 (AJP) - South Korea is considering reviving a rarely used cap on retail gasoline prices as policymakers brace for a potential third wave of global oil shocks if the Middle East conflict drags on, though economists warn the government should move cautiously given the risks of distorting market prices. President Lee Jae Myung on Tuesday instructed his cabinet to explore emergency measures to curb surging fuel costs, urging officials to move beyond “normal procedu March 10, 2026