New KCS task force targets drugs, scams, illicit cash flows

The Korea Customs Service has formed a special unit dedicated to rooting out transnational crimes, ranging from drug trafficking and organized scams to illicit financial flows. The emergency unit, called the Transnational Crime Eradication Task Force, is tasked with the interception of illegal trade, including drugs, firearms and Intellectual property-infringing items, at the border. The new unit consists of two primary wings: a specialized operations team responsible for intensive investigation

Nov. 26, 2025

Korea’s customs chief aims to lead ‘fair growth’ with AI, digital border control

South Korea’s customs chief has pledged to use artificial intelligence and digital tools to strengthen fair growth at home while deepening cooperation with developing countries, positioning the Korea Customs Service as a “border guardian” for both trade and national security. In a recent interview with The Korea Herald, the KCS head said the agency is moving beyond its traditional image as a tax collector to become a strategic actor in trade security, digitalization and global standard-setting.

Nov. 26, 2025

GS E&C, Evoloh partner on next-gen hydrogen plant

South Korean construction giant GS Engineering & Construction said Tuesday it has signed a contract with US-based electrolyzer stack maker Evoloh to develop an anion‐exchange-membrane, or AEM, electrolysis plant package, with full-scale development scheduled to begin at the end of November. The deal follows an April agreement between the companies to collaborate on a basic design package and front-end engineering, as well as an EPC contract covering engineering, procurement and construction. Evo

Nov. 26, 2025

After 70 years in Korea, Rieckermann doubles down on high-tech growth

Hamburg-headquartered industrial solutions provider Rieckermann has been a quiet but consequential player in Korea’s industrial development for more than seven decades. Founded in 1892, the privately owned German group has grown into a global organization with over 750 employees across 26 offices in 18 countries. Its Seoul branch, established in 1953, is one of its earliest and longest-running Asian operations. “There is a long tradition of cooperation between Korea and Germany, and I believe th

Nov. 26, 2025

Samsung, Reliance chiefs push deeper AI-chip alliance

Samsung Electronics Chair Lee Jae-yong met with Mukesh Ambani, chair of India’s Reliance Industries and Asia’s richest business leader, in Seoul on Tuesday to discuss expanding cooperation in future growth sectors, including semiconductors, next-generation telecommunications, AI data centers and batteries, the Korean tech giant said. During the meeting, Samsung presented Ambani with a full lineup of its latest technologies from AI and extended reality devices to foundry services, data center sol

Nov. 25, 2025

Samsung taps new AI talent in biggest reshuffle in years

Samsung Electronics on Tuesday carried out its largest executive promotion round in recent years, elevating a wave of rising leaders in AI, robotics and advanced chips as the tech giant accelerates a generational shift for the AI era. In its annual reshuffle, Samsung promoted 161 employees to executive positions — a sharp increase from 143 in 2023 and 137 in 2024 — signaling a pivot toward younger, next-generation leadership capable of steering the tech giant through intensifying global competit

Nov. 25, 2025

APEC CEO Summit sets record in Gyeongju, delivering W7.4tr economic boost

The 2025 APEC CEO Summit, held in Gyeongju, North Gyeongsang Province, from Oct. 28-31, was the biggest in the event’s history, drawing record numbers of attendees and programs, while delivering a significant boost to the local economy, the host Korean Chamber of Commerce and Industry said Tuesday. A total of 2,224 people took part in the summit hosted by the KCCI, the nation’s largest business lobby. From the business community alone, 1,852 executives from 713 companies attended, surpassing las

Nov. 25, 2025

Hanwha revamps US investment arm for defense push

Hanwha Group is overhauling its US investment structure as it accelerates expansion in the American defense and shipbuilding markets, particularly under the Make American Shipbuilding Great Again or MASGA initiative. Hanwha Systems and Hanwha Ocean — the joint owners of Philly Shipyard — said in regulatory filings Monday that they would invest a combined 1.01 trillion won ($690 million) to set up a new US holding company called Hanwha Defense and Energy, together with Hanwha Solution. The new en

Nov. 25, 2025

[Photo News] Asia's richest tycoon in Seoul

Nov. 25, 2025

SK Group eyes record W120tr exports on chip boom

SK Group is on track to post a record 120 trillion won ($81.6 billion) in exports this year, propelled by surging global demand for premium semiconductor products from its crown jewel, SK hynix — a leading global memory chipmaker at the center of the artificial intelligence boom. As of the third quarter, Korea’s second-largest conglomerate had already logged 87.8 trillion won in exports, marking a sharp 19.1 percent increase from 73.7 trillion won during the same period last year, the group said

Nov. 25, 2025

Industry minister promotes S. Korea's submarine capabilities in meeting with Canadian counterpart

Industry Minister Kim Jung-kwan stressed the technological and security strengths of South Korean submarines in a meeting with his Canadian counterpart Monday, as they discussed ways to enhance bilateral cooperation in advanced industries, resources and other areas, Kim's office said. Kim's meeting with Canadian Industry Minister Melanie Joly in Seoul came as South Korea's Hanwha Ocean Co. is competing in Canada's patrol submarine project. The company was shortlisted as one of the final two cont

Nov. 24, 2025

GS Caltex earns Asia’s first RecyClass certification

GS Caltex said Monday it has become the first company in Asia to obtain RecyClass certification for its end-of-life vehicle or ELV recycling value chain, marking a significant milestone in the company’s push into high-quality plastic recycling. RecyClass is a leading European certification system that evaluates the recyclability and traceability of plastic materials. Recognized as an official audit scheme by the Circular Plastics Alliance, it is used by more than 60 percent of the European recyc

Nov. 24, 2025

Shinhan Bank adds Uzbek, Nepali services

Shinhan Bank said Monday it has added Uzbek and Nepali to its foreign-language consulting services, expanding support for a fast-growing number of migrant workers from the two countries. With the latest additions, the bank now offers consultations in 12 languages, including English, Japanese, Chinese, Vietnamese, Mongolian, Thai, Russian, Cambodian, Filipino, Indonesian, Uzbek and Nepali, giving Shinhan the most extensive foreign-language support system in the domestic banking sector. Demand for

Nov. 24, 2025

LS Cable starts world-first 500kV HVDC project

South Korean cable giant LS Cable & System announced Monday that it has officially commenced construction on the nation's largest high-voltage direct current, or HVDC, project, utilizing the world's highest-capacity cable technology. The East Coast-Singapyeong project features the world's first commercial application of a 500-kilovolt, 90-degree Celsius HVDC cable. The East Coast-Singapyeong line is the first phase of the East Coast-Capital Area Project, designed to transmit power generated on t

Nov. 24, 2025

‘We export safety expertise, not just reactors,’ says Korea’s nuclear watchdog chief

As the global race to build energy-hungry AI data centers accelerates, nuclear power is reemerging as one of the few scalable, carbon-free baseload energy solutions — and with it, an unprecedented surge in demand for strict regulatory oversight. In South Korea, that responsibility falls squarely on the Nuclear Safety and Security Commission, a 13-year-old state regulator that now sits at the center of nearly every major decision shaping the country’s nuclear future. From licensing next-generatio

Nov. 24, 2025