Hyundai E&C enters Finnish nuclear market, eyes more opportunities in northern Europe

SEOUL, June 25 (AJP) - Hyundai Engineering & Construction has taken a significant step into Northern Europe’s nuclear energy sector, signing a preliminary agreement to participate in a potential new nuclear power plant in Finland. The South Korean builder announced it had entered into an Early Works Agreement (EWA) on June 19 with Finland’s state-owned utility Fortum and Westinghouse Electric Company, the U.S.-based nuclear technology firm, in Helsinki. The agre

June 25, 2025

South Korea fails again in bid for MSCI Developed Market status

SEOUL, June 25 (AJP) - South Korea’s ambitions to join the ranks of the world’s developed financial markets faced another setback as MSCI declined once again to elevate the country from its emerging market classification. In its annual market classification review, the global index provider said South Korea would not be added to its watch list for a potential upgrade — effectively stalling any chance of reclassification until at least 2026. The decision also delays

June 25, 2025

Yoon's legal team denounces arrest warrant as special counsel ramps up investigation

SEOUL, June 25 (AJP) - Former President Yoon Suk Yeol's legal team filed a formal objection with the Seoul Central District Court on Wednesday, pushing back against an arrest warrant request from the special counsel investigating his December 3 martial law declaration. They argued that the warrant lacks legal basis and violates Yoon's right to a fair defense. Before the special counsel took over, Yoon had been summoned three times by the police -- on June 5, 12, and 19 --

June 25, 2025

INTERVIEW: How Kazakhstan's Korean Cultural Center fosters bilateral relations

SEOUL, June 24 (AJP) - In the central Eurasian steppe, there is a place that has been at the forefront of promoting Korean culture and heritage for over 15 years. Located in Astana, the capital of Kazakhstan, the Korean Cultural Center (KCC) there has played a pivotal role in introducing Korean culture across Central Asia since 2010. As the region's first and only such center, it has provided locals with a wide range of programs that raise awareness of the northeastern Asian cou

June 24, 2025

North Korea holds key party meeting ahead of major anniversaries

SEOUL, June 24 (AJP) - North Korea wrapped up a plenary meeting of the Workers Party to review policies and plans for the second half of this year, state media reported on Tuesday. According to the official state-run Korean Central News Agency (KCNA), the three-day meeting, which began last Saturday and was chaired by its leader Kim Jong-un, was convened "to conduct the interim review" of major policies for this year and "to discuss and decide on the issues arising in

June 24, 2025

South Korea to host US students in shipbuilding education program

SEOUL, June 24 (AJP) - South Korea will launch a new shipbuilding education program next year aimed at strengthening maritime industry ties with the United States by hosting American university students and faculty for short-term training. The initiative was announced Tuesday by the Ministry of Trade, Industry and Energy. Seoul National University, San Diego State University, and HD Korea Shipbuilding & Offshore Engineering signed a memorandum of understanding, outlining plan

June 24, 2025

South Korea urged to deepen mineral ties with Africa

SEOUL, June 24 (AJP) - As tensions between the United States and China continue to roil global supply chains, especially those critical to the electric vehicle industry, South Korea is being urged to strengthen its strategic engagement with Africa to secure vital battery minerals. A report released Tuesday by the Korea International Trade Association (KITA) warns that growing geopolitical fragmentation threatens the stability of supply routes for key materials such as lithium, cob

June 24, 2025

Acting US envoy discusses prospects for relations between two allies in Seoul

SEOUL, June 24 (AJP) - A group of journalists from leading news outlets gathered in Seoul for a seminar to discuss the evolving diplomatic landscape between South Korea and the U.S. since the inauguration of new administrations in both countries. Hosted by the Korea Press Foundation in central Seoul on Tuesday, the seminar offered an opportunity to hear from Joseph Yun, the Chargé d'Affaires ad interim at the U.S. Embassy in Seoul, through in-depth discussions about recen

June 24, 2025

Consumer sentiment in South Korea hits 4-year high

SEOUL, June 24 (AJP) - South Korea’s consumer confidence surged to a four-year high in June, lifted by optimism over the launch of a new government and expectations for a forthcoming supplementary budget, the central bank said Tuesday. The Bank of Korea reported that its Composite Consumer Sentiment Index (CCSI) rose to 108.7 in June, up 6.9 points from the previous month and marking the highest reading since June 2021, when the index reached 111.1. The latest increase repr

June 24, 2025

TRAVEL: Cheonggyecheon — Seoul's green heart

SEOUL, June 24 (AJP) - In the heart of this bustling metropolis, a remarkable scene unfolds along the Cheonggyecheon Stream. Citizens dip their bare feet into the cool water, some engrossed in books, others in animated conversations with friends, colleagues, and international visitors. The clear stream teems with life: stately carp glide beneath the surface, while herons, observed with curious delight by passersby, patiently stalk fish. Families of mallards, foraging for susten

June 24, 2025