PHOTOS: Celadon festival to take place in southwestern Korea

SEOUL, February 20 (AJP) - The Gangjin Celadon Festival will take place for ten days starting on Saturday at the Goryeo Celadon Museum in Gangjin County, South Jeolla Province. Staff members are currently preparing for the event.

February 20, 2025

Korea's job growth slows to 6-year low as young, middle-aged workers struggle

SEOUL, February 20 (AJP) - South Korea’s labor market saw its slowest job growth in six years during the third quarter of 2024, as employment opportunities for workers in their 20s and 40s declined at an unprecedented rate, according to government data released Thursday. The number of jobs increased by 246,000 from a year earlier, marking the smallest third-quarter gain since 2018, Statistics Korea reported. The deceleration continues a downward trend from the 597,000 jobs add

February 20, 2025

Yoo Ah-in's scenes deleted from the upcoming film's trailer due to drug scandal

SEOUL, February 20 (AJP) - Sports drama film "The Match" starring actors Lee Byung-hun and Yoo Ah-in will meet movie fans next month as it finally set a release date. According to the film's distributor BY4M Studio, the much-awaited film directed by Kim Hyung-joo will hit local theaters on March 26, ending its prolonged delay caused by Yoo's drug-related scandal that emerged in 2023. The biopic, based on a real-life story, revolves around board game Go, known as

February 20, 2025

HBM market share projected to exceed 30 percent of DRAM by 2028

SEOUL, February 20 (AJP) - High-bandwidth memory (HBM) is poised to capture 30.6 percent of the global DRAM market by 2028, fueled by the rapid expansion of cloud services and growing investments in artificial intelligence data centers, according to Gaurav Gupta, an analyst at Gartner. Speaking at SEMICON Korea 2025, Gupta emphasized the increasing role of HBM in the evolving semiconductor landscape. "As major suppliers refine their technology, the focus will shift toward

February 20, 2025

Japanese Embassy hosts event in Seoul to celebrate emperor's birthday

SEOUL, February 20 (AJP) - The Japanese Embassy in Seoul hosted an event at a hotel in central Seoul to celebrate Emperor Naruhito's birthday on Wednesday, bringing together government officials, diplomats, and other distinguished guests. Japan's overseas missions elsewhere have also been holding similar annual celebrations in observance of the emperor's 64th birthday, which falls on Feb. 23. Emperor Naruhito ascended the throne in 2019. Japanese Ambassador Koichi Miz

February 20, 2025

Mid-sized firms ramp up M&As amid economic slump

SEOUL, February 20 (AJP) - Mergers and acquisitions among South Korea’s mid-sized companies are accelerating as firms face a prolonged economic downturn and high interest rates. The number of M&A deals exceeding 100 billion won ($74.7 million) rose 12 percent to 474 cases in 2024. Daemyung Sono Group, which operates 18 hotels and resorts, invested 176 billion won to acquire a 26.77 percent stake in budget carrier T’way Air and is now in negotiations to purchase

February 20, 2025

Lotte Chemical to sell Pakistan unit to address liquidity concerns

SEOUL, February 20 (AJP) - Lotte Chemical announced plans to sell its Pakistan subsidiary, Lotte Chemical Pakistan (LCPL), for 97.9 billion won ($67.9 million) as it seeks to address concerns over its financial health. The Seoul-based firm will divest its entire 75.01 percent stake in LCPL to a consortium comprising Pakistan’s Asia Park Investment and the United Arab Emirates-based Montage Oil DMCC. The transaction is expected to close in the first half of 2025. Lotte Chemi

February 20, 2025

North Korea condemns Australia's nuclear submarine deal with US

The leaders of Australia, the U.K. and the U.S. attend a ceremony for the security pact between the three countries, known as AUKUS, at a naval base in San Diego, in this file photo from March 2023. Reuters-Yonhap SEOUL, February 20 (AJP) - North Korea has criticized Australia's plan to acquire nuclear-powered submarines from Washington through its trilateral security pact with the U.S. and U.K. In a commentary on Thursday, the official Korean Central News Agency condemned Australi

February 20, 2025

Celltrion, SK Bio brace for US tariff fallout

SEOUL, February 20 (AJP) - South Korean pharmaceutical and biotechnology companies are scrambling to devise contingency plans following U.S. President Donald Trump’s announcement of proposed tariffs of 25 percent or higher on imported drugs, a move that could disrupt one of their most critical export markets. Trump's announcement has sent ripples through South Korea’s pharmaceutical sector, where leading firms such as Celltrion and SK Biopharmaceuticals have establis

February 20, 2025

POSCO bets on innovation as tariffs, Chinese steel shake industry

Editor's Note: This article is the seventh installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, February 19 (AJP) - For the 15th consecutive year, South Korean steelmaker POSCO has retained its title as the "World's Most Competitive Steelmaker," according to global steel analysis firm World Steel Dynamics. POSCO ranked as the world’s

February 20, 2025