N. Korea deploys hundreds of missile launchers to frontline units

SEOUL, August 5 (AJU PRESS) - North Korea said it has deployed 250 new mobile launchers for ballistic missiles to frontline military units, the reclusive country said Monday. Pyongyang's state-run Korean Central News Agency reported that Kim attended a ceremony the previous day to commemorate the transfer of the new launchers. It quoted Kim as saying, "If the U.S. ignores our repeated warnings and continues to attempt to undermine the security of the region, it will have di

August 5, 2024

VISUALS: Chrome balloon spectacles at Mega Boopoo exhibition

SEOUL, August 05 (AJU PRESS) - The Mega Boopoo exhibition at Dongdaemun Design Plaza (DDP) showroom in Seoul runs from July 10 to August 25. Featuring a giant inflatable character made of thousands of chrome balloons and a 5-meter centerpiece, the event offers hourly dynamic displays with special effects, including powerful fans and lighting.

August 5, 2024

Korean beauty brand Amuse aims to triple US revenue after Shinsegae acquisition

SEOUL, August 05 (AJU PRESS) - Amuse, a Korean beauty brand known for its official model Jang Won-young of the K-pop girl band IVE, aims to boost its U.S. revenue by 200 percent by 2025 by leveraging the marketing network and expertise of Shinsegae International, which is set to become its parent company. Shinsegae International said Friday that it will acquire 100 percent of the shares in Amuse for 71.3 billion won ($51.9 million). Currently, Amuse's largest shareholder is Snow

August 5, 2024

Korean coffee franchises expand overseas amid K-food popularity

SEOUL, August 5 (AJU PRESS) - As "K-food" gains global traction, domestic coffee chains are accelerating their international expansion, leveraging diverse menus and localized offerings to capture new markets. In May, Hollys opened its first overseas store in Osaka, Japan, targeting the country's youth with Korean-style cafes and desserts. The shop features unique items like Yakgwa Cream Latte, which has become a bestseller. Ediya Coffee launched its first franchise

August 5, 2024

Seoul stocks plunge the most in 16 years amid US recession fears

SEOUL, August 5 (AJU PRESS) - Korea's benchmark KOSPI index plummeted 8.77 percent, marking the largest single-day drop in 16 years, on Monday amid growing fears of a U.S. economic recession. The KOSPI closed at 2,441.55, down 234.64 points from the previous trading day. It was the largest percentage drop since Oct. 24, 2008, when the index fell 10.57 percent amid the global financial crisis. The point drop was the biggest in history, surpassing the previous record of 133.

August 5, 2024

Koreans advised to evacuate Israel, Lebanon amid escalating tensions in Middle East

SEOUL, August 5 (AJU PRESS) - Amid escalating tensions in the Middle East, the Korean Ministry of Foreign Affairs urged Korean residents and visitors in Lebanon and Israel to leave the countries immediately on Sunday. The measure came after a meeting chaired by Second Vice Foreign Minister Kang In-sun on the same day. Amid heightened tensions in the region after the assassination of Ismail Haniyeh, a senior Hamas leader in Tehran last week, the region is bracing for a possible re

August 5, 2024

Korean kimchi exports hit record high in the first half

SEOUL, August 5 (AJU PRESS) - Korea's kimchi exports reached a record high in the first half of 2024, led by the United States and other Western markets, according to data from the Korea Agro-Fisheries & Food Trade Corp. (aT). Industry experts attribute the surge to the growing popularity of Korean pop culture and increased awareness of kimchi as a health food following the COVID-19 pandemic. Kimchi exports totaled 23,900 tons from January to June, marking a 4.8 percent i

August 5, 2024

SK C&C partners with Vietnamese firm to expand digital ESG business

SEOUL, August 5 (AJU PRESS) - SK C&C, a Korean IT services provider, has signed a memorandum of understanding (MOU) with FPT IS, a leading Vietnamese ICT company, to cooperate on global digital ESG (environmental, social and governance) business expansion, the company announced on Monday. The agreement, signed during the Vietnam-Korea Digital Forum 2024 in Seoul, aims to address growing ESG demands in Korea, Vietnam, and European markets. The partnership will focus on developing

August 5, 2024

ASEAN trade fair to kick off in Seoul this week

SEOUL, August 5 (AJU PRESS) - A trade fair hosted by the ASEAN-Korea Centre is set to be held in Seoul this week. The fair opens at COEX on Thursday, coinciding with the 57th anniversary of ASEAN Day, and runs until Sunday. The four-day fair, showcasing food and beverage products from the ASEAN's ten member countries, aims to facilitate business opportunities in the region. Over 40 companies from the ASEAN countries -- Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, t

August 5, 2024

Seoul shares plunge on US slowdown woes, triggering circuit breakers

SEOUL, August 5 (AJU PRESS) - Korean stock markets plummeted more than 8 percent on Monday, triggering circuit breakers for the first time in over four years. Market analysts attribute the drop to growing fears of a U.S. economic slowdown, exacerbated by weak manufacturing and employment data released last week. As of 3:02 p.m. the KOSPI was down 231.43 points, or 8.65 percent, to 2,444.76. The Korea Exchange activated a circuit breaker on the benchmark KOSPI market at 2:14:30

August 5, 2024