K-Sure provides $1.7 billion financing for Verizon's purchase of Samsung devices

SEOUL, December 18 (AJP) - Korea Trade Insurance Corp. (K-Sure) said on Thursday it will provide $1.7 billion in financing for a project under which Verizon Communications Inc., the largest telecommunications operator in the United States, will purchase mobile devices from Samsung Electronics. Verizon, which K-Sure said has about 150 million subscribers and the largest share of the U.S. telecom market, will use the entire amount to buy Samsung-made communications devices, includ

December 18, 2025

US Senate approves defense bill prohibiting unilateral USFK troop cuts

SEOUL, December 18 (AJP) - The U.S. Senate on Wednesday passed a defense bill that includes a provision prohibiting a unilateral reduction of U.S. troops stationed in South Korea. The annual National Defense Authorization Act (NDAA), which sets defense policy, allocates funding priorities, and provides guidance on key security matters, was approved by the Senate in a decisive 77-20 vote, following its passage in the House of Representatives last week. The bill, which allocates a

December 18, 2025

Hanwha Systems to supply cockpit displays for F-15 jets in deal with Boeing

SEOUL, December 18 (AJP) - South Korea's Hanwha Systems said on Thursday it has secured its first foothold in the U.S. defense market by winning a contract to export digital avionics equipment to Boeing. The South Korean defense company said it has signed a deal to supply Boeing with a large-area multifunction display, known as the enhanced large-area display (ELAD), for F-15K fighter jets and the U.S. Air Force’s F-15EX aircraft. The display integrates information

December 18, 2025

Samsung C&T advances Australian energy push with HVDC transmission deal

SEOUL, December 18 (AJP) - Samsung C&T Corp.’s construction unit said on Thursday it has won a high-voltage direct current (HVDC) transmission project in Australia. The company said it signed a contract with Marinus Link, a government-backed company established by Australia’s federal government and the state governments of Victoria and Tasmania, for the Marinus Link HVDC project. The project involves the engineering, procurement and construction of a 750-meg

December 18, 2025

Naver seeks to complete acquisition of Spain's Wallapop, steps up European expansion

SEOUL, December 18 (AJP) - South Korean internet company Naver Corp. is entering the final stages of its acquisition of Wallapop, Spain’s largest consumer-to-consumer marketplace, accelerating its expansion into Europe, industry sources said on Thursday. Naver said the deal is aimed at strengthening its position in the global consumer market while enhancing services through the integration of its core artificial intelligence technologies. Naver said on Tuesday that it wil

December 18, 2025

Opposition parties push for independent probe into Unification Church scandal

SEOUL, December 18 (AJP) - The main opposition People Power Party (PPP) is working together with the minor centrist Reform Party (RP) to push for a probe by independent prosecutors into bribery allegations involving the Unification Church, also known as the Moonies. After a meeting between the two parties' floor leaders Song Eon-seok and Cheon Ha-ram on Wednesday, they agreed to proceed with it as early as this week, although they need to resolve some differences including the s

December 18, 2025

Korea's Doosan Corp. named preferred bidder for wafer maker SK siltron

SEOUL, December 18 (AJP) - Heavy-equipment-strong South Korean conglomerate Doosan Group has moved closer to the chipmaking segment after being named the preferred bidder to acquire SK siltron, the world’s third-largest maker of silicon wafers. SK Inc. said in a regulatory filing Wednesday that it had notified Doosan Corp. of its selection as the preferred negotiating partner for the sale of its stake in SK siltron. SK Inc. holds 70.6 percent in the wafer entity. Given

December 18, 2025

OPINION: The costs of 'cartel eradication' politics and martial law

A year has passed since the declaration and swift lifting of martial law on Dec. 3, and eight months since former President Yoon Suk Yeol was removed from office by the Constitutional Court’s impeachment ruling on April 4. Yet the political reckoning is far from complete. That unresolved mood was reflected in a Gallup Korea survey released on Nov. 28 assessing the achievements and failures of 11 former presidents. Yoon recorded the highest negative ratings and the lowes

December 18, 2025

LG Energy Solution ends $6.5 bn deal with Ford amid EV slowdown

SEOUL, December 17 (AJP) -South Korea's LG Energy Solution said Wednesday it has terminated an electric vehicle battery supply contract with Ford Motor worth an estimated 9.6 trillion won ($6.5 billion), after the U.S. automaker decided to halt production of some EV models amid shifting policy conditions and a softer demand outlook. In a regulatory filing after the stock market closure, the South Korean battery maker said the termination followed formal notice from Ford, which

December 17, 2025

Much ado about nothing: Korea's "Hwandan Gogi" controversy winds down

SEOUL, December 17 (AJP) - Claims that Korean ancestry dates back to the Stone Age and that an ancient polity called Hwan-guk once spanned territories stretching from western Europe to China resurfaced briefly in South Korea’s political spotlight this month — before being swiftly dismissed by historians. The claims originate from Hwandan Gogi, a book published in 1979 by Yi Yu-rip, founder of the religious group Taebaekgyo. The text asserts that Hwan-guk had a population

December 17, 2025