SEOUL, September 18 (AJP) - Naver Chief Executive Choi Soo-yeon has been appointed to the board of the United Nations Global Compact, becoming the first Korean to join the sustainability initiative's governing body in 17 years, the Korean internet giant said Thursday. The appointment recognizes Choi's pioneering role in shaping international discourse on artificial intelligence governance and establishing ethical frameworks for AI development across the technology sector, it

SEOUL, September 18 (AJP) - The Bank of Korea is widely expected to cut its benchmark interest rate as early as next month, after the U.S. Federal Reserve lowered borrowing costs for the first time in nine months, easing pressure on Korea’s currency and capital markets. The Fed’s decision on Wednesday (local time) to trim its policy rate by 0.25 percentage points to a range of 4 to 4.25 percent narrowed the gap with South Korea’s rate from a record 2 percentage p

SEOUL, September 17 (AJP) - South Korean major companies with multibillion-dollar ventures in the United States are biding their time or adopting stopgap measures as they assess the fallout from the immigration raid at a Korean battery plant in Georgia. LG Energy Solution has suspended the final-stage construction of a $6 billion joint-venture battery plant with Hyundai Motor following the surprise raid by the Immigration and Customs Enforcement and arrest of 475 workers. The b

SEOUL, September 17 (AJP) - Bullying and violence in South Korean schools have worsened despite tougher discipline and prevention efforts, with reported cases now affecting 5 percent of elementary school students, a government survey showed. Of the 3.26 million students from fourth grade through high school, 2.5 percent said they experienced school violence this year, up 0.4 percentage points from last year, according to the Education Ministry. The figure has steadily risen from 1

SEOUL, September 17 (AJP) - South Korea’s POSCO Group remains committed to pursuing the country’s sea flag carrier HMM, despite fierce competition for the asset and vocal protests from the maritime industry. POSCO has been reviewing the option of going after state-owned stake in HMM in hopes to cut logistics costs and strengthen resilience against global supply chain disruptions. HMM, formerly Hyundai Merchant Marine, absorbed assets and the Asia–U.S. East Coast

SEOUL, September 17 (AJP) - Hanwha Ocean, one of South Korea’s three largest shipyards, has bagged an order of 1.93 trillion won ($1.4 billion) from Taiwan's Yang Ming Marine Transport to deliver seven liquefied natural gas (LNG)-fueled container ships. The shipbuilder disclosed that the contract calls for construction of seven 15,880 TEU (twenty-foot equivalent unit) LNG dual-fuel containers at Hanwha’s Okpo Shipyard in Geoje, South Gyeongsang Province, with deliv

SEOUL, September 17 (AJP) - Korea Aerospace Industries (KAI) is betting big on winning a $7 billion U.S. Navy contract to replace its aging T-45 trainer jets, leaning on its proven record with advanced trainers already in service worldwide. KAI has teamed up with Lockheed Martin to offer the TF-50N, a naval variant of the single-engine T-50 jet trainer that is in service or on order with seven countries. The U.S. Navy will receive proposals for its Undergraduate Jet Training Sy

SEOUL, September 17 (AJP) - The battle over South Korea’s nuclear future flared again Tuesday, as Industry Minister Kim Jung-kwan insisted that two new reactors and one small modular reactor must be built, challenging President Lee Jae Myung’s push to emphasize renewable energy. Kim Jung-kwan, minister of trade, industry and energy, told reporters that two new reactors and one small modular reactor (SMR) must be built as planned, despite skepticism from President Lee a

SK On, a major player in the global electric vehicle (EV) battery market, has created a new European sales division and appointed Thomas Eller as its head. The appointment of Eller, who has nearly two decades of experience at Continental and a history of working with top-tier automakers like BMW and Mercedes-Benz, signals SK On's intent to strengthen its presence in the critical European market. The company's strategy involves creating a "customized coopera