Hyundai Motor averts strike with union deal

SEOUL, September 16 (AJP) - Hyundai Motor's labor union has reached a new wage and collective agreement with management, averting a full-scale strike after months of tense negotiations. The agreement was finalized after a vote by union members. According to the company, Tuesday, 52.9 percent of its union members who participated approved the deal. The new agreement includes a 100,000 won monthly increase in the base salary, a performance bonus package of 450 percent plus 15

September 16, 2025

Korean firms explore stakes in $45 billion Alaska LNG project

SEOUL, September 15 (AJP) - South Korean companies are emerging as early partners in a multibillion-dollar plan to export natural gas from Alaska, signaling growing alignment between Seoul’s energy ambitions and Washington’s push to expand liquefied natural gas (LNG) exports. Posco International last week became the first Korean firm to formally engage with Glenfarne Alaska LNG, the project’s developer, signing a preliminary agreement that covers potential LNG im

September 15, 2025

Park Chan-wook's latest film wins award at Toronto film fest

SEOUL, September 15 (AJP) - Director Park Chan-wook's latest film "No Other Choice" received an award at the Toronto International Film Festival (TIFF), which wrapped up on Sunday. The thriller, an adaptation of American writer Donald E. Westlake's novel "The Ax," won the inaugural International People's Choice Award, a prize given to the most popular international film at the festival as voted by audiences. The feat came after the film's lead

September 15, 2025

North Korea vows nuclear weapons program to remain 'irreversible'

SEOUL, September 15 (AJP) - North Korean state media on Monday condemned Washington for infringing on the country's sovereignty, citing a statement from its permanent mission to the U.N. in Vienna, where it reiterated that its status as a nuclear weapons state is "irreversible" under its constitution and vowed to "thoroughly oppose and reject" any attempt to change it. "We strongly denounce and reject the U.S. provocative act of revealing once again its

September 15, 2025

K-beauty leaders sell assets, seek growth abroad as competition with indie brands intensifies

SEOUL, September 15 (AJP) - South Korea’s top cosmetics companies are accelerating restructuring efforts, selling assets and seeking new growth channels as they confront intensifying competition from a rising wave of independent K-beauty labels. Industry officials said Monday Aekyung Industrial, best known for its dual portfolio of cosmetics and household goods, is preparing for a transfer of ownership to Taekwang Group. Cosmetics account for 40 percent of its revenue and ge

September 15, 2025

Hyundai E&C wins major seawater plant contract in Iraq

SEOUL, September 15 (AJP) - Hyundai Engineering & Construction said Monday it had secured a contract worth more than $3 billion to build a seawater treatment plant in southern Iraq, one of the largest infrastructure projects the country has awarded in recent years. The agreement, signed Sept. 14 in Baghdad at the office of the Iraqi prime minister, is part of Iraq’s Gas Growth Integrated Project, an ambitious initiative that spans oil, gas, solar energy and water infrast

September 15, 2025

[K-Tech] South Korean food technology company bets on chocolate without cocoa

SEOUL, September 15 (AJP) - On a recent afternoon, oval-shaped chocolate balls sat neatly on a platter at HN Novatech's research center. Their glossy shells promised indulgence, and the first bite delivered a familiar rush: creamy tartness followed by a flood of chocolate flavor. What the confection lacked was the very ingredient that defines chocolate. Instead of cacao, the morsels were made largely from plants like perilla seeds, almonds and coconuts — engineered to mimi

September 15, 2025

Seoul trade chief picks up baton in stalled trade talks with US

SEOUL, September 15 (AJP) -South Korean Trade Minister Yeo Han-koo has left for Washington in hopes of finalizing a trade deal with the United States that has been stalled since a framework was agreed in late July, in return for a reprieve on the U.S. tariff rate for Korean imports from the initial 25 percent to 15 percent. Yeo ascends to the mound on behalf of Seoul after Industry and Energy Minister Kim Jung-kwan returned to Seoul Sunday without settling talks with his U.S. cou

September 15, 2025

Dollar's dominance amplifies US financial shocks in South Korea: BOK

The Bank of Korea has warned that South Korea’s economy remains acutely vulnerable to financial turbulence in the United States, a consequence of the dollar’s unrivaled role in global finance and trade. In a report released on Monday, the central bank argued that the international status of the dollar magnifies the effect of American financial shocks, rippling through South Korea’s markets, exports and investment. The analysis also urged policymakers to pr

September 15, 2025

[K-Pop] Soundtrack from Netflix' K-pop anime tops Billboard 200 albums chart

SEOUL, September 15 (AJP) - The soundtrack of Netflix's hit South Korean anime "KPop Demon Hunters" topped the U.S. Billboard 200 albums chart this week. According to the American music chart on Sunday, the soundtrack claimed the top spot on the Billboard 200, overtaking American singer Sabrina Carpenter's "Man's Best Friend." After debuting at No. 8 on June 20, the album remained at No. 2 for seven nonconsecutive weeks before reaching the top.

September 15, 2025