Korean companies see opportunities, risks under Trump

SEOUL, January 20 (AJP) - Korean conglomerates are bracing for a reshaped global business environment as Donald Trump takes office as the 47th president of the United States on Monday. The ripple effects of his return to the White House are expected to touch industries ranging from semiconductors to automotive manufacturing, batteries, shipbuilding, and oil refining. Korean companies are adopting a cautious yet proactive approach as they navigate the shifting U.S.-South Korea b

January 20, 2025

Korean petrochemical firms seek $1.37 billion by issuing bonds

SEOUL, January 20 (AJP) - South Korea’s leading petrochemical companies are turning to corporate bonds in a bid to raise approximately 2 trillion won ($1.37 billion) in early 2025, as the industry struggles against intensifying competition from China and the Middle East. The combined operating profit of South Korea’s top four petrochemical firms — LG Chem, Lotte Chemical, Hanwha Solutions, and Kumho Petrochemical — plunged to 237.7 billion won in 2024, a stag

January 20, 2025

Yoon in isolated cell barred from seeing visitors as he remains uncooperative with questioning

SEOUL, January 20 (AJP) - President Yoon Suk Yeol, who is now confined to a tiny solitary cell in a dramatic turn after his detention on Sunday over the botched martial law debacle last month, has been restricted from seeing any visitors except his legal representatives, the Corruption Investigation Office for High-Ranking Officials (CIO) said on Monday. The independent agency established to root out corruption in the government said the measure, which bars him from meeting with his

January 20, 2025

PHOTOS: Markets bustle with festive food ahead of Lunar New Year holidays

SEOUL, January 20 (AJP) - Ahead of the Lunar New Year, Korea's major holiday known as "Seollal," traditional markets bustle with citizens preparing festive food.

January 20, 2025

Rising costs push food, beverage companies to raise prices

SEOUL, January 20 (AJP) - Food and beverage companies are responding to soaring raw material costs with a wave of price increases across popular products, creating fresh challenges for consumers already grappling with rising inflation. Paul Bassett, a premium coffee chain, announced a 3.4 percent price hike on 28 menu items, effective Jan. 23. Dong-A Pharmaceutical plans to raise the price of its Bacchus energy drinks by as much as 11.1 percent in March. Similarly, Dongah Otsuk

January 20, 2025

Opinion: Era of high-performance computing – how are data centers evolving?

SEOUL, January 20 (AJP) - The data center sector remains in strong growth mode with robust cloud demand and the rise of AI. Cloud growth characterized the spike of data center growth in recent years, however moving later into the decade, it is forecast AI revenue to grow exponentially alongside cloud to drive the sector forward. The rise of generative AI has had a major impact on the sector, resulting in several data center players reevaluating their data center developm

January 20, 2025

Viet Nam in talks with South Korea to purchase of K9 self-propelled howitzers

SEOUL, January 20 (AJP) - Viet Nam is in government-level discussions with South Korea regarding the potential acquisition of K9 self-propelled howitzers, one of South Korea's best-selling weapons. If finalized, this deal would mark South Korea's first defense export to Southeast Asia. "While nothing has been decided yet, we are aware that discussions are underway at the government level," a Hanwha Aerospace official told AJP on Monday. The proposed deal includ

January 20, 2025

South Korea braces for Trump's 2nd term amid tariff threats, political chaos, weakening won

SEOUL, January 20 (AJP) - As Donald Trump begins his second term as U.S. president on Monday, South Korea braces for a wave of economic uncertainty, compounded by an ongoing domestic leadership vacuum. Trump has vowed sweeping protectionist measures, including the establishment of an "External Revenue Service" to impose universal tariffs of 10 to 20 percent on imports and punitive tariffs of up to 60 percent on Chinese goods. These actions threaten to disrupt South Korea&r

January 20, 2025

HD Hyundai Construction Equipment wins excavator order from Philippines

SEOUL, January 19 (AJP) - South Korea's HD Hyundai Construction Equipment announced Sunday that it has won a bid to supply medium-sized excavators for flood prevention work in the Philippines. The equipment will be used in flood control efforts on the Labangan River on Mindoro, an island in the central Philippines. The island frequently faces flooding and river overflow issues due to heavy rainfall. It is scheduled to be delivered to the Philippines Department of Public Works a

January 19, 2025

South Korean political, business leaders arrive in US ahead of Trump's inauguration

SEOUL, January 19 (AJP) - Key political and business figures from South Korea have left for the U.S. as President-elect Donald Trump's inauguration approaches. Amid the aftermath of martial law and the lack of a government-level channel in South Korea to engage the second Trump administration, lawmakers and business leaders are expected to lead diplomatic efforts through the inauguration ceremony in Washington, D.C., scheduled for Monday. A delegation from the National Assemb

January 19, 2025