SEOUL, September 18 (AJP) - Samsung Electronics will receive a $250 million grant from the state of Texas to support its semiconductor expansion, Governor Greg Abbott announced Wednesday (local time). The funds, allocated from the Texas Semiconductor Innovation Fund, are separate from the $4.7 billion in federal aid Samsung secured last year under the CHIPS Act. The new grant was announced after Abbott met with Kyung Kye-hyun, Samsung’s vice chairman, in Austin on Sept.

SEOUL, September 18 (AJP) - South Korea’s Lotte Card said Thursday that nearly one-third of its customers were affected by a major data breach stemming from a hacking attack in August. At a press conference in Seoul, CEO Cho Jwa-jin confirmed that the personal information of 2.97 million members was compromised in the Aug. 14 incident. “We sincerely apologize to our customers and relevant authorities for causing great concern,” Cho said. The leaked data was ti

SEOUL, September 18 (AJP) - A delegation of top Ukrainian government officials visited HD Hyundai's facilities this week to advance collaboration on post-war reconstruction, the company said Thursday. The visit was part of a larger construction machinery training program for Ukrainian officials organized by the Korea Construction Equipment Manufacturers Association and the Korea Construction Equipment Technology Institute. The delegation included key figures like Deputy M

SEOUL, September 18 (AJP) - South Korea’s Fair Trade Commission (FTC) has conditionally approved the high-profile merger between an affiliate of Shinsegae Group and Chinese e-commerce powerhouse Alibaba Group's Korean unit. On Thursday, the commission announced its decision to greenlight the merger of Shinsegae affiliate Gmarket and Alibaba's AliExpress Korea, but only under strict conditions designed to prevent the two companies from sharing consumer data and to e

SEOUL, September 18 (AJP) - South Korea's defense procurement chief said in Washington, Wednesday (local time), that talks are advancing with the United States on shipbuilding and defense industry cooperation, including the long-delayed Reciprocal Defense Procurement Agreement, which would allow Korean companies greater access to U.S. contracts. Seok Jong-geon, head of South Korea’s Defense Acquisition Program Administration (DAPA), said he is focusing on addressing

SEOUL, September 18 (AJP) - Naver Chief Executive Choi Soo-yeon has been appointed to the board of the United Nations Global Compact, becoming the first Korean to join the sustainability initiative's governing body in 17 years, the Korean internet giant said Thursday. The appointment recognizes Choi's pioneering role in shaping international discourse on artificial intelligence governance and establishing ethical frameworks for AI development across the technology sector, it

SEOUL, September 18 (AJP) - The Bank of Korea is widely expected to cut its benchmark interest rate as early as next month, after the U.S. Federal Reserve lowered borrowing costs for the first time in nine months, easing pressure on Korea’s currency and capital markets. The Fed’s decision on Wednesday (local time) to trim its policy rate by 0.25 percentage points to a range of 4 to 4.25 percent narrowed the gap with South Korea’s rate from a record 2 percentage p

SEOUL, September 17 (AJP) - South Korean major companies with multibillion-dollar ventures in the United States are biding their time or adopting stopgap measures as they assess the fallout from the immigration raid at a Korean battery plant in Georgia. LG Energy Solution has suspended the final-stage construction of a $6 billion joint-venture battery plant with Hyundai Motor following the surprise raid by the Immigration and Customs Enforcement and arrest of 475 workers. The b

SEOUL, September 17 (AJP) - Bullying and violence in South Korean schools have worsened despite tougher discipline and prevention efforts, with reported cases now affecting 5 percent of elementary school students, a government survey showed. Of the 3.26 million students from fourth grade through high school, 2.5 percent said they experienced school violence this year, up 0.4 percentage points from last year, according to the Education Ministry. The figure has steadily risen from 1