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  KOSPI rebounds to fresh high, shrugging off AI jitters SEOUL, April 29 (AJP) - Korea’s benchmark KOSPI stood out in Asia on Wednesday, closing at a fresh record high after rebounding from early losses driven by concerns over the sustainability of the artificial intelligence-driven rally. The KOSPI rose 0.8 percent to close at 6,690.90, after hitting a low of 6,596.03 throughout the trading session. The index later reversed course to hit today's high of 6,702.38, highlighting resilient buying momentum despite external headwin April 29, 2026
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  Hyundai flags battery subscription to spark EV boom from high fuel cost SEOUL, April 29 (AJP) - Contrary to the expectation that the Gulf-triggered energy crisis could renew the appetite for "plugging in," EV demand remains subdued. South Korea’s Hyundai Motor Group hopes to make the choice easier through a novel concept: lending battery chargers and subscriptions. Energy costs have climbed sharply amid the prolonged conflict between the United States and Iran. In Korea, gasoline prices rose from 1,819.2 won per liter in the fourth April 29, 2026
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  Appeals court increases ex-president's martial law-related sentence to 7 years SEOUL, April 29 (AJP) - Former President Yoon Suk Yeol was sentenced to seven years in prison on Wednesday over one of several charges related to his botched martial law debacle as an appeals court stiffened the initial five-year sentence handed down in January. In a televised verdict, the Seoul High Court in southern Seoul found him guilty of obstructing official duties, fabricating official documents, and other charges related to his declaration of martial law on Dec. 3, 2024. April 29, 2026
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  Hanwha Aerospace to develop homegrown meteor-class missile by 2033 SEOUL, April 29 (AJP) - Hanwha Aerospace has launched the development of a homegrown air-to-air missile comparable to the Meteor, as part of efforts to localize advanced aerial weapon systems. The company unveiled its localization roadmap at the “Hanwha Tech Academy 2026” event in central Seoul on Wednesday. The Meteor, developed by European defense firm MBDA, is known for its top speed of Mach 4 and an interception range exceeding 200 kilometers, making it one of the April 29, 2026
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  Korean Inc. turns to 91-day financing as corporate debt market remains icy SEOUL, April 29 (AJP) — South Korean companies are turning to three-month financing to meet debt obligation, as new bond issues become increasingly difficult with lower-rated yields hovering above 10 percent amid icy demand. Bond issuance by non-financial companies fell 6.5 percent from a month earlier to 4.78 trillion won in March, even as overall bond issuance rose 3.8 percent to 19.98 trillion won ($13.56 billion), according to data released Wednesday by the Financial S April 29, 2026
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  Ador seeks property seizure as Danielle and Min Hee-jin face deepening legal rift SEOUL, April 29 (AJP) - Ador has secured a provisional attachment on the real estate assets of former NewJeans member Danielle, her mother, and former chief executive Min Hee-jin as the legal fallout from the K-pop industry’s most high-profile corporate schism intensifies. According to Legal sources, the court filing was confirmed on Wednesday, ahead of a full-scale trial scheduled for May, and would represent a tactical shift by the Hybe-owned label to freeze the financial April 29, 2026
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  LG Electronics pivots to subscriptions, auto as profit engine strengthens SEOUL, April 29 (AJP) - LG Electronics is weathering a global spending slowdown by rapidly expanding subscription-based rentals for premium home appliances and scaling its vehicle solutions business, as demand grows for smarter mobility and recurring revenue models, its quarterly breakdown showed Wednesday. The first-quarter results underscored a structural shift in earnings quality, with high-margin recurring income from appliance subscriptions and a solid order backlog in the April 29, 2026
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  South Korea launches new homegrown frigate with delivery slated for next year SEOUL, April 29 (AJP) - A launch ceremony for a new homegrown frigate with enhanced anti-air and anti-submarine capabilities was held in Goseong, South Gyeongsang Province on Wednesday. The ceremony for the Jeju, named after the country's southern resort island, was held at SK Oceanplant's shipyard, about a year ahead of its planned delivery to the Navy slated for June next year, according to the Defense Acquisition Program Administration (DAPA). The 3,600-ton frigate is April 29, 2026
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  South Korea benchmarks BTS tourism success as Goyang visitor numbers surge SEOUL, April 29 (AJP) - Foreign arrivals in a satellite city northwest of the capital increased 35 times during a three-day BTS concert series that took place on April 9, 11, and 12, providing South Korean authorities with a statistical mandate to overhaul regional tourism strategies, a report released by the culture ministry showed Tuesday. The massive influx of travelers into Goyang, traditionally overlooked in favor of Seoul's central districts, suggests that high-profile c April 29, 2026
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  South Korea, Latvia agree to expand defense cooperation SEOUL, April 29 (AJP) - Defense Minister Ahn Gyu-back met with Latvian parliamentary speaker Daiga Mierina in Seoul on Wednesday, according to the Ministry of National Defense. Calling Latvia a "cooperative partner that shares universal values such as liberal democracy, the rule of law, and human rights," Ahn said during the meeting that Mierina's visit to South Korea would help broaden practical cooperation between the two countries. While discussing ways to expand April 29, 2026