Korean gaming group condemns Tencent's reported Nexon takeover bid

SEOUL, June 16 (AJP) - A South Korean gaming industry association on Monday strongly condemned a reported bid by Chinese technology giant Tencent to acquire Nexon, one of South Korea’s largest game developers, calling the move a threat to the country’s “industrial sovereignty” and urging the government to intervene. In a statement, the Korea Game Society criticized what it described as “systematic domination attempts” by foreign entities to gain c

June 16, 2025

US tariffs on steel-based appliances rattle key industry players of South Korea

SEOUL, June 16 (AJP) - South Korean manufacturers are facing mounting trade pressures as the United States escalates its protectionist policies under the Trump administration. In a fresh blow to exporters, the U.S. will impose new 50 percent tariffs on home appliances made from steel derivatives starting June 23, expanding a web of duties that now encompasses everything from industrial metals to consumer goods — and potentially, automobiles. Samsung Electronics and LG Ele

June 16, 2025

LG Chem sells water treatment business to private equity fund

SEOUL, June 16 (AJP) - LG Chem has agreed to sell its water treatment filter business to Glenwood Private Equity for 1.4 trillion won (approximately $1 billion), as South Korea’s largest chemical company accelerates efforts to streamline operations and sharpen its focus on high-growth sectors. The deal, signed on June 13, will transfer LG Chem’s Water Solution unit to Korea Water Solution Holdings, a special purpose entity established by Glenwood PE. The Water Solut

June 16, 2025

North Korea on track for up to 90 nuclear warheads, report says

SEOUL, June 16 (AJP) - With nuclear-armed countries including China, Russia and the U.S. racing to bolster their nuclear arsenals, North Korea could increase its stockpile of nuclear warheads to as many as 90, according to a recent report. In its annual yearbook released Monday, the Stockholm International Peace Research Institute (SIPRI) said North Korea "had assembled approximately 50 nuclear warheads and had sufficient fissile material to potentially produce up to 90 warhead

June 16, 2025

Chinese diplomat joins Seoul palace walk, highlights cultural connection

SEOUL, June 15 (AJP) - Fang Kun, Deputy Chief of Mission at the Chinese Embassy in Seoul, said he believes walking tours like the one held Saturday offer a meaningful way to appreciate Korea's heritage and deepen ties between the peoples of China and South Korea. "I think this walking event gives everyone a chance to enjoy the beauty of Korea's historic palaces," Fang said during the opening ceremony of the 2025 Seoul Royal Palaces International Walk on Jun. 14.

June 15, 2025

Over 1,500 join palace walk event in Seoul to promote cultural exchange

SEOUL, June 15 (AJP) - With his son’s hand in his, Lee Bong-soo walked quietly through the grounds of Seoul’s royal palaces, taking in the scenes he had long wanted to share outside the pages of a textbook. "I always wanted to take my son to a palace, but the opportunity never really came up," said Lee, a resident of Goyang. "My workplace and home are far apart, which made it even harder. Palaces are full of historic sites and interesting things to see.

June 15, 2025

US steel tariffs likely to hit core of Samsung, LG's appliance exports

SEOUL, June 13 (AJP) - Samsung Electronics and LG Electronics are bracing for financial and operational turbulence after the Trump administration announced it would impose 50 percent tariffs on steel-derived products used in home appliances. The U.S. Commerce Department published the sweeping list of affected goods in the Federal Register, with implementation set for June 23. The targeted products include refrigerators, washing machines, dryers, dishwashers, freezers, stoves, rang

June 13, 2025

Lee calls emergency meeting in response to Israel's attack on Iran

SEOUL, June 13 (AJP) - President Lee Jae-myung convened an urgent meeting on Friday to discuss measures in response to Israel's attack on Iran earlier in the day. Lee said, "The most important thing is the lives and safety of South Koreans there," stressing the need to thoroughly assess the situation of South Koreans residing there. He ordered key officials to prepare appropriate safety measures for South Koreans residing in nearby areas while analyzing potential im

June 13, 2025

President Lee pledges support for growth at meeting with business leaders

SEOUL, June 13 (AJP) - President Lee Jae-myung met with the heads of South Korea’s largest conglomerates and business associations on Friday, pledging regulatory reform and support for corporate growth as central pillars of his economic agenda. The meeting came just days before his scheduled departure for the Group of 7 summit in Canada. The gathering, held at the presidential office in Yongsan, Seoul, brought together top executives from Samsung, Hyundai Motor Group, LG Gr

June 13, 2025

PHOTOS: A season of harvest

SEOUL, June 13 (AJP) - Even as June's warmth turns to oppressive heat, the fields are bustling with harvest activity. Below, a series of photographs documents the sweat and effort of early summer.

June 13, 2025