South Korea's Lotte Chemical opens petrochemical complex in Indonesia

SEOUL, November 07 (AJP) - South Korea's Lotte Chemical said on Friday that it has completed construction of a massive petrochemical complex in Cilegon, a port city in Indonesia’s Banten Province. A completion ceremony was held Thursday, attended by Lotte Group Chairman Shin Dong-bin, Lotte Chemical Chief Executive Lee Young-joon and Indonesian President Prabowo Subianto. The facility — called the Lotte Chemical Indonesia New Ethylene Complex, or LINE —

November 7, 2025

Seoul reiterates its planned nuclear-fueled submarine fleet built at home

SEOUL, November 7 (AJP) — Senior Seoul officials on Thursday reiterated that South Korea’s planned fleet of nuclear-powered submarines must be built domestically, arguing that constructing them in the United States would be “realistically” unfeasible. National Security Adviser Wi Sung-lac told lawmakers during a parliamentary hearing that Seoul aims to develop “cost-effective nuclear-fueled submarines tailored to our operational needs, rather than ad

November 7, 2025

HOT STOCK: Hyosung Heavy flies to rank as most expensive KOSPI stock

SEOUL, November 06 (AJP) - The most expensive stock on Korea’s main bourse is no longer Samsung Electronics or Hyundai Motor, but Hyosung Heavy Industries — trading at 2.3 million won ($1,591) per share and cementing its position as the priciest KOSPI-listed company. The stock has surged 462.6 percent this year as of Tuesday, making it the top performer on a KOSPI that itself has jumped 72 percent year-to-date. Hyosung Heavy manufactures core power-grid equipment such

November 6, 2025

Asian markets rebound in tandem with Wall Street recovery

SEOUL, November 06 (AJP) - Asian stocks closed higher on Thursday, snapping a sharp two-day selloff as easing concerns over an AI bubble and a rebound on Wall Street lifted sentiment across the region. South Korea’s benchmark KOSPI rose 0.55 percent to 4,026.45, recovering from the “Black Wednesday” rout the previous day. Retail investors bought 885 billion won ($611 million) of shares and institutions added 832 billion won, while foreign investors sold 1.7 tril

November 6, 2025

Over-crowded Korean coffee market squeezes small franchises to venture overseas

SEOUL, November 06 (AJP) - Koreans are the world's most avid coffee consumers, and the market has now grown so dense that smaller franchises are increasingly looking abroad to survive. According to Euromonitor, Koreans on average drank 416 cups of coffee per person last year, the highest in the Asia-Pacific region. Consumption far outstripped Singapore's 290 cups and Japan's 281 cups, and was nearly six times the regional average of 57. By the end of 20

November 6, 2025

Korea's record Jan-Sept current account flags deepening reliance on chip exports

SEOUL, November 06 (AJP) - South Korea’s thriving semiconductor business has pushed the country’s current account surplus to its largest-ever level for September, but the details point to a growing dependence on a narrow set of export engines. Preliminary Bank of Korea data show the current account logged a $13.47 billion surplus in September, lifting the cumulative black to a record $82.77 billion for the January–September period — up 23 percent from a yea

November 6, 2025

Ramyeon now spans hundreds of varieties, but the classic spicy still gets the last gulp

SEOUL, November 06 (AJP) - Ramyeon, Korea’s signature instant noodle, sits at the forefront of the K-food boom, even being marketed vigorously through K-Pop Demon Hunters as its varieties keep evolving with a widening global footprint. The range now spans hundreds of flavors and formats — from trendy mala and truffle to butter-soy and black-garlic blends — though the original spicy profile remains the undisputed classic. Korea’s agri-food exports surpassed

November 6, 2025

South Korean FM to visit Cambodia to discuss measures against scam crimes

SEOUL, November 6 (AJP) - Foreign Minister Cho Hyun will visit Cambodia to discuss measures to combat online scams involving South Koreans. He is scheduled to leave for Phnom Penh this weekend, spokesperson Lee Jae-woong said in the ministry's regular press briefing on Thursday. During his three-day trip, Cho plans to meet with Cambodia's foreign and interior ministers to discuss cooperation in combating scam crimes while enhancing bilateral relations. He will also meet w

November 6, 2025

Washington requests 'more time' to sign tariff deal with Seoul, FM says

SEOUL, November 6 (AJP) - Amid growing speculation over why South Korea and the U.S. are still unable to sign a memorandum of understanding (MOU) for their recent tariff-related deal, which was finalized on the sidelines of last week's Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, Foreign Minister Cho Hyun said on Thursday that Washington has requested "more time." When asked what has caused the delay, Cho said during a parliamentary hearing, "Giv

November 6, 2025

TRAVEL: Finding solace at temple high on mountain

BONGHWA, November 06 (AJP) - I recently undertook a stay at Cheongnyangsa Temple in Bonghwa, North Gyeongsang Province. The experience was an immersion in a landscape and a tradition that demands both effort and reward. While Cheongnyangsan Mountain may not be among Korea’s highest peaks, its rugged, sheer cliffs and dramatic stone pinnacles deliver an astonishingly grand and theatrical scene. Cheongnyangsa is strategically built halfway up the mountain, meaning your jour

November 6, 2025