HD Hyundai to merge key construction units

SEOUL, July 02 (AJP) - HD Hyundai has unveiled plans to merge two of its major subsidiaries — HD Hyundai Construction Equipment and HD Hyundai Infracore — into a single, unified entity tentatively named HD Construction Equipment. The boards of both companies approved the merger plan in meetings held on July 1. The new company is expected to be officially launched on Jan. 1, 2026, pending regulatory approvals and a shareholder vote. Once combined, the company is proj

July 2, 2025

North Korea's massive coastal tourist zone opens after epic delay

SEOUL, July 2 (AJP) - North Korea has opened its long-awaited tourist zone in the eastern coastal area of Kangwon Province after years of construction delays, state-run media reported on Wednesday. According to the country's state-run Korean Central News Agency (KCNA), the "magnificent tourist attraction which is unparalleled in the world" was opened to the public the previous day with "many guests" on the first day of its grand opening. Located in the so

July 2, 2025

Prosecution chief steps down citing concerns over prosecutorial reform

SEOUL, July 1 (AJP) - Prosecutor-General Shim Woo-jung tendered his resignation on Tuesday, citing concerns over prosecutorial reform, one of the major priorities expected to be pursued by the new administration. In a brief written statement, Shim said the reform, which would involve a major overhaul of the prosecution, should be implemented through thorough discussions among scholars, experts, and other professionals, as it is directly related to the "fundamental rights of all

July 1, 2025

S. Korea greenlights national consumption coupon plan amid heated budget review

SEOUL, July 01 (AJP) - As South Korea’s National Assembly continues to deliberate the government’s proposed 30.5 trillion won ($22.5 billion) supplementary budget, lawmakers on Tuesday approved one of its most contentious items, a 13.2 trillion won plan to distribute universal consumption coupons. The decision was made as part of a broad policy review session, where ruling and opposition parties clashed over fiscal responsibility and the effectiveness of key spending prop

July 1, 2025

Korean biotech firm DewCell partners with Thermo Fisher on artificial platelet project

SEOUL, July 1 (AJP) - DewCell, a South Korean biotechnology company specializing in stem cell-based therapies, announced Tuesday that it has launched a collaboration with Thermo Fisher Scientific of the United States to develop a customized culture medium for the large-scale production of artificial platelets. The partnership will focus on creating a serum-free, animal-origin-free medium tailored specifically to platelet cell cultivation. DewCell said the joint effort aims to maximi

July 1, 2025

PHOTOS: Beauty of Mount Kumgang in North Korea

SEOUL, July 01 (AJP) - North Korea's Foreign Languages Publishing House recently issued a collection of postcards showcasing the natural landscapes of Mount Kumgang, one of the Korean Peninsula's most revered and picturesque mountains. Mount Kumgang, often translated as "Diamond Mountain," is a majestic range in North Korea's Kangwon Province, celebrated for its dramatic granite peaks, cascading waterfalls, and serene valleys. Revered in Korean culture for centuries,

July 1, 2025

'Squid Game' finale maintains top spot among TV shows on Netflix

SEOUL, July 1 (AJP) - The third and final season of Netflix's South Korean series "Squid Game" has remained the most-streamed show, since its release last Friday. The much-anticipated season of the dystopian thriller ranked No. 1 among TV shows in 93 countries worldwide as of Tuesday and maintained the top spot for three consecutive days, according to FlixPatrol, which tracks global streaming rankings. The six-episode finale continues the deadly, high-stakes saga th

July 1, 2025

Creator of 'Squid Game' responds to American spinoff rumors

SEOUL, July 01 (AJP) - The final moments of Netflix drama series Squid Game's highly anticipated third season have ignited speculation about an American spinoff, especially following a surprise appearance by veteran actress Cate Blanchett. But according to series creator Hwang Dong-hyuk, while the cliffhanger ending was designed to leave an impression, it was not intended to launch a new franchise, at least not by the South Korean director. Speaking with The Hollywood Reporter

July 1, 2025

Korean convenience store chains accelerate global push with growth stalling at home

SEOUL, July 01 (AJP) - Faced with a saturated market and declining sales at home, South Korea’s leading convenience store brands are racing to expand overseas in a bid to secure new sources of growth. Major players GS25, CU, and Emart24 are intensifying their international efforts as the domestic retail environment shows signs of fatigue. According to a May 2025 retail sales report from the Ministry of Trade, Industry and Energy, sales in South Korea’s convenience s

July 1, 2025

US faces greatest economic risk in global trade war: BOK

SEOUL, July 1 (AJP) - The United States stands to suffer the most severe economic fallout if President Donald Trump’s protectionist trade policies provoke full-scale retaliation from its global trading partners, the Bank of Korea said in a report released Tuesday. The central bank’s New York office said that U.S. trade exposure has grown significantly since the 1930s, when the Smoot-Hawley Tariff Act exacerbated the Great Depression by sharply raising duties on imported

July 1, 2025