Australia allows Hanwha to increase stake in strategic shipbuilding firm

SEOUL, December 12 (AJP) - Hanwha Group has secured approval from the Australian government to increase its stake in Austal, a global shipbuilding and defense contractor, to 19.9 percent, the company said Friday. Austal, which operates major shipyards in the United States, builds vessels for the U.S. Navy and is considered a strategic defense asset by the Australian government. Hanwha sees the stake expansion as a step toward strengthening its shipbuilding capabilities and deepe

December 12, 2025

Samsung Tri-Fold sells out in Korea despite hefty price

SEOUL, December 12 (AJP) - The priciest handset-to-date Galaxy Z Tri-Fold landed across South Korea on Friday with much fanfare, selling out on the day one as consumers lined up to try the new concept phone whose dual display wings unfold into a 10-inch tablet-like screen. The device debuted through Samsung.com and 20 stores nationwide, including Samsung Gangnam, where initial online inventory sold out almost immediately, leaving only restock notifications available. The Ga

December 12, 2025

Hyundai Motor's Ioniq 9 outperforms BMW iX, Volvo EX90 in German magazine's SUV review

SEOUL, December 12 (AJP) - Hyundai Motor’s flagship electric SUV, the Ioniq 9, has taken the top spot in a major German comparison of electric SUVs, outperforming competing models from BMW, Volvo and Polestar, the company said Friday. German automotive magazine Auto Zeitung evaluated the Ioniq 9 against the BMW iX, Volvo EX90 and Polestar 3, reviewing categories including body design, driving convenience, powertrain and dynamic performance. The publication highlighted t

December 12, 2025

Shinsegae chairman flies to US to attend dinner hosted by VP Vance

SEOUL, December 12 (AJP) - Shinsegae Group Chairman Chung Yong-jin departed for the United States on Friday to attend a Christmas dinner hosted by U.S. Vice President J.D. Vance at the vice president’s residence in Washington D.C. The event, scheduled for Friday evening, local time, is expected to draw prominent figures from U.S. political and business circles, as well as members of the Rockbridge Network, an American public policy and investment organization founded by Va

December 12, 2025

Hotel Shilla president's son admitted to Seoul National University

SEOUL, December 12 (AJP) - Hotel Shilla president Lee Boo-jin's eldest son has been accepted to Seoul National University. According to a list released by the prestigious university on Friday, his name, identified by his last name Im, appeared among the successful early-admission applicants to the university's Department of Economics for next year's academic year. Those admitted must register by next week. If he enrolls, he will follow in the footsteps of his uncle

December 12, 2025

OPINION: Won discount reflects structural weaknesses

The trauma of the 1997 financial crisis still casts a long shadow over South Korea. A rising dollar-won exchange rate evokes memories of a time when the rate surged to nearly 2,000 won per dollar and the foundations of the economy shook. Today’s rate—hovering around 1,470 won—is the highest since the 2009 global financial crisis, and its persistent climb has stirred fresh unease. Research by the Hyundai Research Institute shows that South Korea’s equilibrium excha

December 12, 2025

OPINION: Why Beijing cannot tolerate Tokyo's remark related to Taiwan Strait

Recent comments by Japanese leaders linking a Taiwan Strait contingency to Japan’s “survival crisis” have triggered a strong response from China. During recent conversations, many South Korean acquaintances asked why Beijing reacted so forcefully. China considers a firm response not only necessary, but also legitimate — and I hope this commentary clarifies Beijing’s position for Korean readers. First, Japan is interfering in China’s internal a

December 12, 2025

Kakao Healthcare steps up digital healthcare push with distribution deal with US firm

SEOUL, December 12 (AJP) - Kakao Healthcare said Friday it has signed an exclusive supply agreement with Dexcom, giving the South Korean digital health platform sole distribution rights for Dexcom's continuous glucose monitoring (CGM) products in South Korea. Dexcom is a U.S.-based medical technology company specializing in CGM systems for people with diabetes. Under the deal, the two companies will expand real-time blood glucose management services using Dexcom’s C

December 12, 2025

South Korean crypto fraudster sentenced to 15 years in prison

SEOUL, December 12 (AJP) - Crypto fraudster Kwon Do-hyeong, also known as Do Kwon, was sentenced to 15 years in prison on fraud charges by a U.S. federal court in New York on Thursday. The so-called "Cryptocrash King" was behind the spectacular collapse of the TerraUSD and Luna cyber that wiped out more than US$40 billion in losses to investors in the U.S. and around the world. "This was a fraud on an epic, generational scale. In the history of federal prosecutions

December 12, 2025

Hyundai Motor Group to supply 224 hydrogen buses to Guangzhou

SEOUL, December 12 (AJP) - Hyundai Motor Group said Friday that its Chinese fuel-cell unit, HTWO Guangzhou, has won a contract to supply hydrogen-powered city buses to Guangzhou State-owned Bus Group, marking the largest single hydrogen bus procurement project in China to date. Under the project, HTWO Guangzhou will supply 224 buses to the Guangzhou operator. Hyundai said the order represents a significant milestone in its efforts to expand its hydrogen mobility footprint in Chi

December 12, 2025