Seoul, April 19 (IANS) The world is experiencing two different wars at the moment — the Middle East and the artificial intelligence (AI) war — Seoul’s industry minister has said.The Middle East war may seem like a more imminent threat as it is being directly witnessed, but winning the AI war is much more important for South Korea as it may very well determine the future of the country, Kim Jung-kwan, minister of trade, industry and resources, said in a recent exclusive interview with Yonhap Ne…
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Seoul, March 29 (IANS) The market capitalisation of defence stocks rose while that of auto and shipbuilding shares fell on the benchmark Korea Composite Stock Price Index (KOSPI) about a month after U.S.-Israeli air strikes on Iran, bourse data showed on Sunday.According to data by the Korea Exchange (KRX), Samsung Electronics Co. retained the top spot in market capitalization, with 1,063.8 trillion won (US$705 billion) as of Friday, followed by SK hynix Inc. with 657.1 trillion won, reports Yon…
Seoul, Feb 8 (IANS) South Korea’s exports of auto parts to the United States fell in 2025 for the first time in five years, data showed on Sunday, as domestic automakers expanded local sourcing in the US amid tariff measures.Shipments of automotive parts to the U.S. declined 6.7 percent from a year earlier to US$7.67 billion last year, according to data compiled by the Korea Auto Industries Cooperative Association. It marked the first annual fall since 2020, when exports fell 11.5 percent, repor…
Seoul, Jan 30 (IANS) Hyundai Steel Co., South Korea’s second-largest steelmaker, said on Friday its net profit plunged 84 percent in 2025 from a year earlier due to a downturn in the construction sector and rising protectionism.Net profit fell to 1.4 billion won ($970,000) last year from 8.8 billion won the previous year, the company said in a press release.”A prolonged slump in the construction industry and growing protectionism, including U.S. import tariffs, weighed on earnings,” a company sp…
Seoul, Jan 23 (IANS) The labour union of Hyundai Motor, South Korea’s leading automaker, said on Friday it will strongly oppose any deployment without prior consultation of physical artificial intelligence (AI) robots in automobile production.”Not a single humanoid robot will be allowed on the production lines without a labor-management agreement,” the automaker’s 40,000-member union said on its website, reports Yonhap news agency.The union said the company’s new humanoid robot Atlas, unveiled a…