SEOUL, January 2 (AJP) - South Korea's government on Thursday lowered its 2025 growth forecast to 1.8 percent from 2.2 percent, citing persistent external uncertainties and slowing export growth despite easing inflation and interest rates globally. The Ministry of Economy and Finance announced the downward revision in its annual economic policy direction, signaling the possibility of supplementary budget if needed to bolster the economy. "We will review various measures,

SEOUL, January 02 (AJP) - The South Korean government will operate its largest-ever national pavilion at this year's Consumer Electronics Show (CES), officials said Wednesday. About 900 Korean companies will participate in the world's largest electronics trade show, to be held in Las Vegas from Jan. 8–11. The Ministry of Trade, Industry, and Energy and the Korea Trade-Investment Promotion Agency (KOTRA) will manage the unified Korean pavilion, featuring 445 companie

Editor's Note: This article is the first installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, January 2 (AJP) - South Korea’s automotive giant Hyundai Motor Group, which includes Hyundai Motor Co. and Kia Corp., is gearing up for a pivotal 2025 as it navigates mounting global competition and an industry-wide shift toward sustainable vehicles. Hyunda

SEOUL, January 2 (AJP) - South Korea's exports reached a record $683.8 billion in 2024, an 8.2 percent increase from the previous year driven by semiconductors, according to the Ministry of Trade, Industry and Energy. Chip exports, accounting for more than 20 percent of total exports, jumped nearly 44 percent to $141.9 billion, surpassing the previous record of $129.2 billion set in 2022, the ministry reported Tuesday. The country's trade surplus hit $51.8 billion, its hi

SEOUL, December 31 (AJP) - The number of founders among South Korea's 50 wealthiest stockholders has more than doubled over the past decade, increasing from five to 12, according to a report by corporate research firm Leaders Index released Tuesday. Samsung Electronics Chairman Lee Jae-yong remains at the top of the list, with shares valued at 12.17 trillion won ($9.4 billion). Despite holding the top spot, Lee’s holdings have shrunk by 15.4 percent since early 2023, she

SEOUL, December 31 (AJP) - South Korea's corporate leaders joined the nation in mourning on Tuesday, visiting memorial altars to honor the 179 victims of Sunday's Jeju Air crash, the country’s deadliest aviation disaster in over two decades. Sohn Kyung-shik, chairman of the Korea Enterprises Federation, visited a memorial altar in front of Seoul City Hall, offering condolences to the bereaved families. Yoon Jin-sik, president of the Korea International Trade Associa

SEOUL, December 31 (AJP) - South Korea’s shipbuilding industry saw its technical workforce grow by 0.8 percent in 2023, breaking an eight-year streak of declines, according to a government report released Tuesday. The Ministry of Trade, Industry and Energy's annual workforce survey reported that the nation's industrial technology workforce totaled approximately 1.72 million in 2023, reflecting a modest 1 percent increase from the previous year. The survey, conducted

SEOUL, December 31 (AJP) - Global DRAM price declines will be limited to 0-5 percent next quarter when including high-bandwidth memory (HBM) products, market researcher TrendForce reported, citing seasonal weakness and cautious buying strategies ahead of the new U.S. administration. Server DDR5 DRAM prices are projected to fall 3-8 percent in the first quarter of 2025 reversing from a 3-8 percent increase in the fourth quarter. Server DDR4 prices are expected to see an even steepe

SEOUL, December 31 (AJP) - Four of South Korea’s regional airports, including Muan Airport, the site of a recent fatal Jeju Air crash, are operating under capital impairment, underscoring the financial challenges faced by the country’s smaller aviation hubs. Government data from the All Public Information In-One system revealed Tuesday that airports in Muan, Yeosu, Sacheon, and Wonju collectively reported negative capital of 32.9 billion won ($22.3 million) as of the end