HYBE sells SM Entertainment stake to China's Tencent Music

SEOUL, May 28 (AJP) - HYBE, South Korea’s largest entertainment company behind BTS, has sold its entire stake in rival agency SM Entertainment to China's Tencent Music Entertainment. In a regulatory filing, Tuesday, HYBE said it would offload its 9.38 percent stake — totaling about 2.2 million shares — to Tencent Music, a subsidiary of China’s internet giant Tencent. The shares were sold at 110,000 won apiece, bringing the total transaction to approx

May 28, 2025

Lee Jae-myung's labor agenda could face resistance from chaebol, foreign firms

Editor's Note: This is the second and last in a two-part series examining the economic campaign promises of Democratic Party presidential candidate Lee Jae-myung. SEOUL, May 27 (AJP) - South Korea's leading presidential candidate Lee Jae-myung of the Democratic Party has vowed to overhaul the country’s labor system and market practices in a bold attempt to forge what he calls a “basic society." Speaking days after a fatal industrial accident at an SPC bak

May 28, 2025

Two former acting presidents slapped with travel ban

SEOUL, May 27 (AJP) - Former Prime Minister Han Duck-soo and former Minister of Economy and Finance Choi Sang-mok have been slapped with a travel ban over their alleged involvement in former disgraced President Yoon Suk Yeol's botched martial law debacle late last year, policed said on Tuesday. It was revealed a day after investigators summoned them for questioning related to the debacle the previous day. The two briefly served as acting presidents after a motion to impeach Yoon

May 27, 2025

Tajikistan celebrates Youth Day and UN-recognized World Football Day in Seoul

SEOUL, May 27 (AJP) - The Embassy of Tajikistan in Seoul hosted a football tournament in central Seoul last Friday to mark Tajikistan Youth Day and World Football Day, bringing together students, local residents, and embassy staff for the friendly competition. Tajikistan's Ambassador to Seoul Salohiddin Kirom congratulated participants and highlighted Tajikistan's strong focus on youth programs. He stressed the leadership of President Emomali Rahmon in helping young people g

May 27, 2025

Former PM expresses support for PPP candidate in last-minute move ahead of presidential election

SEOUL, May 27 (AJP) - With less than a week left until next month's presidential election, former Prime Minister Lee Nak-yon on Tuesday expressed his support for Kim Moon-soo, the presidential candidate of the ruling People Power Party (PPP). At a press conference in Seoul, Lee said he decided to join hands with Kim to prevent Lee Jae-myung, the presidential candidate of the main opposition Democratic Party (DP), from being elected, describing it as a "monster dictatorship.

May 27, 2025

Leferi's K-beauty pop-up blends influencer power with retail strategy

SEOUL, May 27 (AJP) - As beauty creator LeoJ looked out over the sleek new pop-up store in Seoul’s fashionable Seongsu neighborhood, he explained his approach to choosing products that balance accessibility with impact. “I tend to choose popular picks that are easy for beginners to use but show dramatic and immediate effects,” said LeoJ, who has 1.41 million subscribers on YouTube and served as one of the co-curators for the store. “We’re targeting pe

May 27, 2025

South Korea probes Chinese solar inverters amid security concerns

SEOUL, May 27 (AJP) - The South Korean government has launched a review of the nation’s solar inverter market as concerns mount globally over the security risks posed by Chinese-made energy equipment. The Ministry of Trade, Industry and Energy said Tuesday that it convened a meeting last week with major domestic solar companies — including Hanwha Q Cells, Hyundai Energy Solutions, and Hyosung Heavy Industries — to assess the state of the country’s solar inv

May 27, 2025

Mt. Kumgang poised for UNESCO World Heritage listing

SEOUL, May 27 (AJP) - Mt. Kumgang in North Korea is set to be included on the UNESCO World Heritage list. The International Council on Monuments and Sites (ICOMOS) and the International Union for Conservation of Nature (IUCN), which serve as advisory bodies to the World Heritage Committee, have jointly recommended the North's scenic mountain for inclusion on the list, according to UNESCO's tentative lists released on Tuesday. The recommendation comes after North Korea'

May 27, 2025

Bill proposed to curb foreign real estate purchases amid surge in Chinese investment

SEOUL, May 27 (AJP) - A South Korean lawmaker has introduced legislation aimed at curbing foreign real estate acquisitions in the greater Seoul area, citing a sharp rise in Chinese purchases that he says are fueling speculation and distorting the housing market. Representative Koh Dong-jin of the ruling People Power Party submitted the bill to the National Assembly on Tuesday, proposing mandatory reciprocity measures and new permit requirements for non-citizens seeking to buy land i

May 27, 2025

LG unveils eco-friendly 'Marine Glass' to restore ocean ecosystems

SEOUL, May 27 (AJP) - LG Electronics announced Tuesday that it has developed a new functional glass material, dubbed “Marine Glass,” intended to foster the growth of marine organisms and aid in the restoration of ocean ecosystems. The firm has signed a partnership with the Blue Carbon Business Group at Seoul National University to launch pilot projects employing the innovative, water-soluble glass powder. According to LG, Marine Glass dissolves in seawater, gradually

May 27, 2025