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  Hyundai, Toyota refocus on China amid US market uncertainty SEOUL, March 11 (AJP) - Hyundai Motor and Toyota Motor are recalibrating their strategies in China, while the United States grapples with economic uncertainty driven by President Donald Trump’s escalating tariff regulations. China, one of the world’s most significant automotive markets, saw its electric vehicle sector capture a 30.2 percent market share in 2024, marking a 38.8 percent year-on-year increase. Overall, vehicle sales — including wholesales and imports March 11, 2025
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  Antitrust watchdog probes whether pharmacists blocked low-cost health products at Daiso SEOUL, March 11 (AJP) - South Korea’s Fair Trade Commission has opened an inquiry into Ilyang Pharmaceutical’s sudden withdrawal of health supplements from Daiso stores, amid concerns that the country’s pharmacists’ association may have played a role in the decision, industry sources said Tuesday. The antitrust regulator is investigating whether the association’s involvement, if confirmed, constitutes a violation of fair trade laws. Ilyang Pharmace March 11, 2025
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  SK Energy to supply sustainable aviation fuel to Hong Kong carrier SEOUL, March 11 (AJP) - SK Energy announced Tuesday that it will supply more than 20,000 tons of sustainable aviation fuel to Cathay Pacific Airways by 2027, marking the first major agreement of its kind between a South Korean refiner and a Hong Kong-based airline. The deal, finalized on Monday, builds on a partnership that began in November, when Cathay Pacific started using SK Energy’s sustainable fuel for all aircraft departing from Incheon International Airport. The compan March 11, 2025
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  Teaser unveils Suzy singing theme song for upcoming Disney film SEOUL, March 11 (AJP) - A video clip featuring actress and singer Suzy singing a soundtrack to Disney's upcoming musical fantasy film "Snow White" was teased on Tuesday. The roughly 40-second-long clip shows Suzy, draped in a red cape, braving a snowstorm as she ventures into an enchanted forest. Ahead of the American film's release here next week, Disney generated buzz with its online event "Guess Who?" last week, inviting fans to guess who will sing March 11, 2025
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  Homeplus debt crisis deepens, shaking Korea's financial sector SEOUL, March 11 (AJP) - South Korea’s financial sector is reeling from the aftershocks of major retailer Homeplus’ surprise filing for court-led debt restructuring last week, raising concerns over potential losses for retail investors and sparking allegations of misconduct. The nation’s second-largest retailer entered court receivership on March 4, sending shockwaves through financial markets, where approximately 600 billion won (US$411.5 million) in debt securitie March 11, 2025
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  Singer Wheesung found dead at home SEOUL, March 10 (AJP) - Singer Wheesung was found dead at around 6:30 p.m at his home in eastern Seoul on Monday. He was 43. He was discovered in cardiac arrest at his home in Seoul's Gwangjin district and was later pronounced dead. A close acquaintance of his said, "After coming back from China the previous day, he was set to meet his manager on Monday, but he didn't answer his phone. His mother, who lives in the same apartment building on a different floor, went do March 10, 2025
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  Police brace for possible chaos as Yoon's impeachment verdict nears SEOUL, March 10 (AJP) - Security will be beefed up around the Constitutional Court of Korea in central Seoul as a final verdict for President Yoon Suk Yeol's impeachment trial over last year's botched martial law debacle looms as early as this week or early next week. Several districts including Jongno, where the court is located, along with nearby areas, will be designated for special security to prepare for potential chaos and violence from both supporters and opponents of March 10, 2025
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  Korea slips to seventh in global auto production due to weak domestic demand SEOUL, March 10 (AJP) - South Korea’s auto industry slipped to seventh place in global vehicle production last year, as sluggish domestic demand outweighed modest gains in exports, according to a report released Monday by the Korea Automobile & Mobility Industry Association (KAMA). The country produced 4.13 million vehicles in 2024, marking a 2.7 percent decline from the previous year. Domestic sales fell to their lowest level since 2013, dropping 6.5 percent year-on-yea March 10, 2025
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  SK Group accelerates digital transformation in manufacturing SEOUL, March 10 (AJP) - SK Group has unveiled a new initiative aimed at accelerating digital transformation (DT) across its manufacturing operations, convening top executives from more than 20 affiliated companies, including SK hynix and SK Telecom. According to industry sources, approximately 120 executives gathered last week at the Walker Hill Hotel in Seoul for the inaugural "SK Manufacturing Solutions Day," an event spearheaded by the recently established DT promotion March 10, 2025
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  Falling freight rates pressuring South Korean shipping, aviation sectors SEOUL, March 10 (AJP) - Global cargo freight rates are tumbling as U.S. tariff policies dampen trade flows, prompting South Korean shipping and aviation companies to recalibrate their business strategies. The Shanghai Container Freight Index (SCFI), a key barometer of shipping costs, fell to 1,436.3 on March 7, a decline of 42.7 percent since the start of the year and 61.5 percent from its peak in July 2024, according to the Shanghai Shipping Exchange. The index, which tracks frei March 10, 2025