HYBE, Kakao bet on India's media, entertainment markets

SEOUL, July 01 (AJP) - South Korean entertainment companies are ramping up efforts to gain a foothold in India’s fast-expanding media and entertainment sector, a market projected to reach 46 trillion won ($33 billion) by 2025, according to the Korea International Trade Association. From K-pop powerhouses to digital comics and gaming giants, Korean firms are tailoring strategies to navigate one of the world’s most diverse and dynamic content ecosystems. At the forefr

July 1, 2025

Emart24 to launch first Korean convenience store in India this August

SEOUL, June 30 (AJP) - Convenience store chain Emart24 will open its first store in India this August, marking the brand’s debut in one of the world’s fastest-growing consumer markets. The company has signed a brand licensing agreement with Jung Brothers Hospitality and the Indian real estate developer Solitaire Group. The flagship store will be located in Pune, Maharashtra, a major urban center and educational hub. The agreement was formalized at Emart24’s he

June 30, 2025

Naver Cloud signs MOU with New Murabba to support Saudi Arabia's smart city ambitions

SEOUL, June 30 (AJP) - South Korea’s Naver Cloud has entered into a strategic partnership with Saudi Arabia’s New Murabba Development Company to help build a new smart city in the heart of Riyadh. The memorandum of understanding (MOU) was signed on Jun. 30 by Naver Cloud CEO Kim Yu-won and New Murabba CEO Michael Dyke during the New Murabba Investment and Partnership Forum, held at the Floating Island Convention center in Seoul. Under the agreement, both sides will w

June 30, 2025

New finance minister expected to drive AI-led fiscal reform

SEOUL, June 30 (AJP) - South Korean President Lee Jae Myung on Sunday nominated Koo Youn-chul, a former government policy coordination chief and vice finance minister, to lead the Ministry of Economy and Finance, filling a key economic post that has stood vacant for more than two months. The appointment of Koo, a 60-year-old career bureaucrat and current visiting economics professor at Seoul National University, is seen as a strategic move to inject momentum into the Lee administrat

June 30, 2025

'Squid Game' Season 3 spurs retail frenzy in South Korea

SEOUL, June 30 (AJP) - As Squid Game returns to screens for its third season, South Korea’s retail sector is turning the Netflix juggernaut into a merchandising powerhouse, deploying immersive pop-ups, collectible goods, and brand collaborations to capture the momentum of the global hit. From convenience store chains to luxury department stores, businesses are rushing to stake their claim in what has become one of the year’s most aggressively commercialized entertainme

June 30, 2025

POSCO to launch lithium extraction project in US

SEOUL, June 30 (AJP) - POSCO Holdings said on Monday that it plans to produce lithium in the United States for the first time, positioning itself at the forefront of efforts to localize battery material supply chains in North America. In a memorandum of understanding signed with Australia’s Anson Resources, POSCO will build and operate a demonstration plant in Green River City, Utah, deploying its proprietary direct lithium extraction (DLE) technology. The agreement marks the

June 30, 2025

Technocrat-turned-executive to guide Korea's energy policy

SEOUL, June 30 (AJP) - In a move signaling South Korea’s deepening commitment to pragmatic industrial policy, President Lee Jae-myung on Sunday nominated Kim Jung-kwan, a technocrat-turned-corporate strategist, as the next Minister of Trade, Industry and Energy. The choice of Kim, currently president of Doosan Enerbility, places a seasoned public servant with cross-sector experience at the helm of a ministry central to Korea’s energy transition and industrial competiti

June 30, 2025

Regulators target Aekyung, SK Chemicals over humidifier disinfectant scandal

SEOUL, June 30 (AJP) - South Korea’s antitrust regulator has launched enforcement proceedings against Aekyung Industrial and SK Chemicals after the two companies failed to comply with orders to publicly acknowledge their responsibility in one of the country’s deadliest consumer product scandals. The Fair Trade Commission (KFTC) has issued examination reports recommending prosecution for both firms, according to industry sources. In 2018, the commission imposed fines t

June 30, 2025

Loan cap in South Korea risks deepening housing inequality

SEOUL, June 29 (AJP) - A sweeping new lending regulation which took effect Friday is shaking South Korea’s housing market, drawing mixed reactions from economists and homebuyers alike. The rule, which caps home mortgage loans at 600 million won (approximately $430,000), is intended to curb speculative buying and stabilize soaring home prices in Seoul. But critics warn it could further squeeze middle-class buyers out of the market. Under the new regulation, even high-in

June 29, 2025

South Korea-US tariff negotiations intensify as July deadline approaches with specific American demands

SEOUL, June 28 (AJP) - South Korea and the United States engaged in detailed tariff negotiations from Jun. 22 to 27 in Washington DC, with American officials presenting specific demands ranging from beef import regulations to participation in Alaska's liquefied natural gas projects, government sources said on Saturday. The third round of technical discussions between Trade Minister Yeo Han-gu and US counterparts comes as the Jul. 8 deadline for mutual tariff relief approaches, ma

June 28, 2025