Samsung Heavy signs deals in US to boost role for MASGA

SEOUL, December 05 (AJP) - Samsung Heavy Industries is deepening its shipbuilding cooperation with the United States, targeting next-generation naval support ships and liquefied natural gas (LNG) vessels as part of an expanded push into the U.S. market. At the International WorkBoat Show in New Orleans this week, Samsung signed a three-way business cooperation agreement with U.S. shipbuilder General Dynamics NASSCO and South Korean engineering firm DSEC. The agreement covers col

December 5, 2025

Seoul Metro increases subway trains as heavy snow disrupts commuters

SEOUL, December 5 (AJP) - More subway trains were put into service during the morning rush hour in Seoul on Friday to prevent delays and disruptions caused by heavy snowfall the previous night. Seoul Metro said, "To minimize inconvenience due to snow, we increased the number of trains between 7 a.m. and 9:30 a.m." The capital and other metropolitan areas saw their first snow of the winter the previous day, with more than 5 centimeters falling in just a few hours, paralyzing traff

December 5, 2025

South Korea takes steps to safeguard rare earths, critical energy resources

SEOUL, December 05 (AJP) - South Korea has launched a national council to stabilize supplies of rare earth elements and expand strategic reserves, amid heightened global supply chain volatility. The council, chaired by Trade, Industry and Energy Minister Kim Jeong-gwan, convened for the first time on Friday with vice-ministers from related ministries to review a comprehensive rare earth supply chain strategy. The body will oversee the government's resource secur

December 5, 2025

When it snows, it downpours in Seoul: first snow causes chaos

SEOUL, December 05 (AJP) -Heavy snowfall across Seoul and southern Gyeonggi triggered a wave of accidents and commuter chaos from rush hour in Wednesday evening to late night as icy roads and inadequate snow removal efforts left drivers stranded and public transportation overwhelmed. In Seoul, the first snow has now become something of a pattern: when it snows, it downpours—the second year in a row in which the season’s first flakes arrived as a full-blown snowstorm.

December 5, 2025

Revised Commercial Act adds legal uncertainty to Korea's M&A landscape

SEOUL, December 04 (AJP) - South Korea’s C-suite and boards must now weigh shareholder rights as heavily as employee considerations under the revised Commercial Act, a shift posing as a setback to bold, owner-driven decision-making long associated with chaebols. The implications of the overhaul were a central focus at a capital markets and M&A seminar hosted in Seoul by law firm Shin & Kim on Thursday, where corporate lawyers and market participants examined how the

December 4, 2025

Korean replaces Chinese as foreign favorite language amid K-pop rise

SEOUL, December 04 (AJP) - In another sign of Korean pop culture's global reach, Korean has become the sixth most-studied language on Duolingo, one of the world's largest language-learning platforms, increasingly replacing Chinese as a preferred foreign language. According to the 2025 Language Report released Thursday, Korean trailed only English, Spanish, French, Japanese and German in global popularity. It also ranked as the second-fastest-growing language in Western

December 4, 2025

With too many skeletons out of the closet, Coupang founder Kim may have to come out

SEOUL, December 04 (AJP) - Coupang earns roughly 90 percent of its estimated $34 billion in revenue from Korea, yet operates and trades as a U.S.-based company often dubbed "Korea's Amazon." Increasingly, however, it resembles something closer to a Chinese tech firm—with opaque recruiting practices and oversight failures that culminated in the mass-scale data leak exposing virtually all of its online shoppers. For negligence and liability related to the loss of

December 4, 2025

NTS to crack down on tax evaders in real estate inheritances

SEOUL, December 4 (AJP) - The National Tax Service plans to intensify its probe of real estate transferred from wealthy parents to children to evade inheritance and other taxes, the watchdog said in a meeting at the government complex in Seoul on Thursday. The probe is expected to target some 2,077 apartment owners in Seoul's affluent districts of Gangnam, Gangdong, Seocho and Songpa as well as Mapo and Seongdong districts north of the Han River, where prices have soared in

December 4, 2025

AI takes front seat in Korean bio "foundries", betting on reduced cost and risks

SEOUL, December 04 (AJP) - South Korea's bio industry is going all in on artificial intelligence, betting that the technology will slash time, cost and risk in drug discovery, with eight out of 10 companies are now diverting at least 10 percent of their revenue to AI deployment. "AI is set to play a pivotal role in our sector, and its impact on the industry will be profound," said Lee Seung-kyu, vice chairman of Korea Bio. "Compared to the vague expectations we ha

December 4, 2025

South Korea's Kolon Industries joins hands with Canadian firm for fuel cell business

SEOUL, December 04 (AJP) - Kolon Industries said Thursday it has signed a memorandum of understanding with Canada’s Ballard Power Systems to expand cooperation in hydrogen fuel cell components, strengthening its push into the clean-energy sector. The agreement was signed at the World Hydrogen 2025 event held at KINTEX in Goyang, Gyeonggi Province. Ballard, founded in 1979, is a major global supplier of high-efficiency, durable hydrogen fuel cell technology used in buses

December 4, 2025