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Rain eases South Gyeongsang drought but triggers landslide alerts
SEOUL, August 16 (AJP) - South Gyeongsang province saw as much as 114.5 millimeters of rain on Sunday, easing a punishing stretch of heat and drought, even as torrential downpours in mountainous areas prompted heightened landslide warnings and scattered flooding. The Korea Meteorological Administration
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Chey seeks stock-cash mix in $666 million divorce, ex-wife holds out for cash
SEOUL, August 16 (AJP) - SK Group Chairman Chey Tae-won balked at a court order to hand his former wife 944 billion won ($666.3 million) in cash because the two sides could not agree on how the record divorce settlement should be paid. Chey, 65, proposed settling part of the award with SK shares alongside cash, but Roh Soh-yeong, 65, the director of the Art Center Nabi and
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Most workers see bias against fixed-term staff, survey finds
SEOUL, August 16 (AJP) - About 80 percent of South Korean workers believe discrimination exists between fixed-term and permanent employees, according to a survey released on Sunday, underscoring persistent tensions in the country's labor market as the government weighs loosening rules on non-regular hiring. The civic group Gabjil 119 said 80.4 percent of respondents to a poll cond
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Korean retail investors reload on risk at home, abroad
SEOUL, August 15 (AJP) - South Korean retail investors are edging back into risk after July's market washout, with brokerage cash returning above 100 trillion won, margin borrowing rising for a seventh straight session and traders piling back into a triple-leveraged U.S. semiconductor fund.
MASGA gets liftoff with drones with Washington's push
SEOUL, August 14 (AJP) - Washington's push to rebuild strategic industries at home while reducing dependence on China is creating new openings for South Korean companies in two seemingly different sectors: shipbuilding and drones. The latest U.S. moves point to a broader strategy of tapping production capacity from trusted allies where American industry cannot immediately meet demand, while using tariffs, investment and procurement rules to steer strategic supply chains away from China. Fo
by Kim Hee-su
Why North Korean leader keeps putting his daughter in spotlight
SEOUL, August 14 (AJP) - In one of the world's most closed societies like North Korea, what matters may lie in what happens before a successor is ever named. For decades, the isolated country's hereditary Kim dynasty has shown that power is not simply passed down when the previous leader dies. It has to be prepared, groomed and carefully managed to prevent any chaos. That process now appears to be underway for current North Korean leader Kim Jong-un's daughter Ju-ae. In recent years
Is the Seoul stock party over or just cooling down?
SEOUL, August 14 (AJP) — South Korea's KOSPI has rebounded after a heavy crash in July. But the crazy roller-coaster ride has shifted to a duller plateau, with the main drivers quietly taking a back seat. The benchmark index flirted with 7,000 Friday, rebounding more than 30 percent from its late-July intraday low of 5,262.77. Yet trading activity and cash on standby remain well below the levels seen during the market frenzy in June. The ebb is evident. Investor deposits — cas
China cracks memory club, but harder test looms
SEOUL, August 14 (AJP) - China's heavily government-backed chipmakers are breaking into the once-exclusive global memory club, with Yangtze Memory Technologies Co. (YMTC) vaulting into the world's top three NAND flash suppliers for the first time. But just as China closes the gap in manufacturing scale, artificial intelligence is moving the industry's profit pool toward a harder target. YMTC captured 14 percent of global NAND bit shipments in the second quarter, overtaking Japan
LG Electronics opens second Brazil plant to press Global South push
Gartner sees one in five firms pulling back on AI by 2028 as costs mount
Today's Photo
Extreme heat drives up vegetable prices
Today's Photo
Extreme heat drives up vegetable prices
