FBI on hunt for disguised North Korean IT workers in crypto theft scheme

SEOUL, July 2 (AJP) - U.S. federal investigators have been searching for four North Koreans allegedly involved in an IT scheme to steal cryptocurrency from blockchain firms and launder the illicit proceeds of their thefts. According to the U.S. Federal Bureau of Investigation (FBI), they were placed on a wanted list on Tuesday with a reward of up to US$5 million for information leading to their capture. "Kim Kwang Jin, Kang Tae Bok, Jong Pong Ju, and Chang Nam Il are wanted

July 2, 2025

Inflation hits five-month high in South Korea as food prices climb

SEOUL, July 02 (AJP) - South Korea’s consumer inflation edged higher in June, returning to the 2 percent range after a brief dip, as rising food and seafood prices fueled by warming ocean temperatures drove costs upward, government data showed Wednesday. The Consumer Price Index rose 2.2 percent year-on-year, up from 1.9 percent in May, according to Statistics Korea. The index reached 116.31, based on 2020 prices set at 100 — the fastest rate of inflation since January

July 2, 2025

US set to impose new tariffs on Korean goods as steel, automobile exports stumble

SEOUL, July 2 (AJP) - South Korea’s exports declined in the first half of 2025, as mounting U.S. tariffs on key goods — including steel and automobiles — weighed heavily on trade, with additional duties of up to 15 percent set to take effect next week. According to data released Tuesday by the Ministry of Trade, Industry and Energy, exports fell 0.03 percent year-on-year to $334.7 billion from January to June. While the drop appears slight, officials say the und

July 2, 2025

HD Hyundai to merge key construction units

SEOUL, July 02 (AJP) - HD Hyundai has unveiled plans to merge two of its major subsidiaries — HD Hyundai Construction Equipment and HD Hyundai Infracore — into a single, unified entity tentatively named HD Construction Equipment. The boards of both companies approved the merger plan in meetings held on July 1. The new company is expected to be officially launched on Jan. 1, 2026, pending regulatory approvals and a shareholder vote. Once combined, the company is proj

July 2, 2025

North Korea's massive coastal tourist zone opens after epic delay

SEOUL, July 2 (AJP) - North Korea has opened its long-awaited tourist zone in the eastern coastal area of Kangwon Province after years of construction delays, state-run media reported on Wednesday. According to the country's state-run Korean Central News Agency (KCNA), the "magnificent tourist attraction which is unparalleled in the world" was opened to the public the previous day with "many guests" on the first day of its grand opening. Located in the so

July 2, 2025

Prosecution chief steps down citing concerns over prosecutorial reform

SEOUL, July 1 (AJP) - Prosecutor-General Shim Woo-jung tendered his resignation on Tuesday, citing concerns over prosecutorial reform, one of the major priorities expected to be pursued by the new administration. In a brief written statement, Shim said the reform, which would involve a major overhaul of the prosecution, should be implemented through thorough discussions among scholars, experts, and other professionals, as it is directly related to the "fundamental rights of all

July 1, 2025

S. Korea greenlights national consumption coupon plan amid heated budget review

SEOUL, July 01 (AJP) - As South Korea’s National Assembly continues to deliberate the government’s proposed 30.5 trillion won ($22.5 billion) supplementary budget, lawmakers on Tuesday approved one of its most contentious items, a 13.2 trillion won plan to distribute universal consumption coupons. The decision was made as part of a broad policy review session, where ruling and opposition parties clashed over fiscal responsibility and the effectiveness of key spending prop

July 1, 2025

Korean biotech firm DewCell partners with Thermo Fisher on artificial platelet project

SEOUL, July 1 (AJP) - DewCell, a South Korean biotechnology company specializing in stem cell-based therapies, announced Tuesday that it has launched a collaboration with Thermo Fisher Scientific of the United States to develop a customized culture medium for the large-scale production of artificial platelets. The partnership will focus on creating a serum-free, animal-origin-free medium tailored specifically to platelet cell cultivation. DewCell said the joint effort aims to maximi

July 1, 2025

PHOTOS: Beauty of Mount Kumgang in North Korea

SEOUL, July 01 (AJP) - North Korea's Foreign Languages Publishing House recently issued a collection of postcards showcasing the natural landscapes of Mount Kumgang, one of the Korean Peninsula's most revered and picturesque mountains. Mount Kumgang, often translated as "Diamond Mountain," is a majestic range in North Korea's Kangwon Province, celebrated for its dramatic granite peaks, cascading waterfalls, and serene valleys. Revered in Korean culture for centuries,

July 1, 2025

'Squid Game' finale maintains top spot among TV shows on Netflix

SEOUL, July 1 (AJP) - The third and final season of Netflix's South Korean series "Squid Game" has remained the most-streamed show, since its release last Friday. The much-anticipated season of the dystopian thriller ranked No. 1 among TV shows in 93 countries worldwide as of Tuesday and maintained the top spot for three consecutive days, according to FlixPatrol, which tracks global streaming rankings. The six-episode finale continues the deadly, high-stakes saga th

July 1, 2025