Lee Jae-myung bets big on artificial intelligence to revive economy

Editor’s Note: This is the first in a two-part series examining the economic campaign promises of Democratic Party presidential candidate Lee Jae-myung. SEOUL, May 20 (AJP) - South Korea’s Democratic Party presidential candidate, Lee Jae-myung, is wagering his economic revival plan on a massive national investment in artificial intelligence, vowing to elevate the country into the ranks of the world’s top AI powers with a bold 100 trillion won ($70.6 billion) initia

May 20, 2025

SK Telecom breach exposes nearly 27 million subscriber records

SEOUL, May 19 (AJP) - Nearly all customers of SK Telecom, South Korea’s largest wireless carrier, may have been affected by a major cybersecurity breach that exposed nearly 10 gigabytes of sensitive subscriber identification data, the government said on Monday. A joint investigation by the Ministry of Science and ICT and the Korea Internet & Security Agency (KISA) found that the breach compromised more than 26.95 million subscriber identification numbers — a figure t

May 19, 2025

Poultry imports from Brazil suspended over bird flu concerns

SEOUL, May 19 (AJP) - South Korea has suspended imports of poultry from Brazil following an outbreak of highly pathogenic avian influenza (HPAI) in the South American nation. The suspension, which took effect for shipments departing Brazil on or after May 16, includes hatching eggs, table eggs, day-old chicks, poultry meat and related products, according to the Ministry of Agriculture, Food and Rural Affairs, Monday. For shipments made after May 1 but before the ban's effec

May 19, 2025

Samsung OLED TVs receive Nvidia G-SYNC Compatible certification

SEOUL, May 19 (AJP) - Samsung Electronics said its 2025 OLED television lineup has received Nvidia’s "G-SYNC Compatible" certification, a move the company says reinforces its position in the high-end gaming display market. The certification, which ensures smoother gameplay by synchronizing the TV’s refresh rate with a connected graphics card’s frame rate, is the latest in a series of gaming-focused upgrades. The announcement follows Samsung’s ear

May 19, 2025

South Korea downplays market fallout from US credit downgrade

SEOUL, May 19 (AJP) - South Korea’s Ministry of Economy and Finance convened an emergency meeting on Monday to evaluate the potential ripple effects of Moody’s downgrade of the United States’ sovereign credit rating, concluding that the impact on domestic markets would likely remain limited. The meeting, held via conference call and chaired by Vice Finance Minister Yoon In-dae, came two days after Moody’s Investors Service lowered the U.S. long-term issuer ra

May 19, 2025

Tech industry turns gaze to Taiwan as Computex 2025 opens

SEOUL, May 19 (AJP) - The global technology and semiconductor sectors are converging on Taiwan this week as Computex 2025, Asia’s largest information technology trade show, opens Tuesday with heightened anticipation surrounding a keynote address by Nvidia’s CEO Jensen Huang. The four-day event, organized by the Taiwan External Trade Development Council (TAITRA) and the Taipei Computer Association, will be held at the Taipei Nangang Exhibition Center. Roughly 1,400 compan

May 19, 2025

Korean grape exports soar to record high

SEOUL, May 19 (AJP) - South Korea’s grape exports surged to an all-time high in the first quarter of 2025, nearly doubling from the same period a year earlier, according to customs data released Monday. Export volume reached 1,412 metric tons between January and March, an 89.8 percent increase year-over-year, the Korea Customs Service said. Despite a decline in average prices — from 5,389 won per kilogram in March 2024 to 4,978 won this year — the total value of

May 19, 2025

Lotte Mart enters Singapore market through FairPrice partnership

SEOUL, May 16 (AJP) - Lotte Mart has entered the Singapore market through a strategic partnership with FairPrice, the city state’s largest retailer. The company opened its first store in the country this week, adopting a shop-in-shop format within the FairPrice Extra outlet at VivoCity, one of Singapore’s largest shopping malls. The launch marks Lotte Mart’s first expansion into a new Southeast Asian market in 17 years, following its entry into Vietnam and Ind

May 16, 2025

Korea's top companies see 17% increase in first quarter operating profits

SEOUL, May 16 (AJP) - South Korea’s largest corporations reported a sharp rise in operating profits in the first quarter of 2025, buoyed by a resurgence in the IT electronics sector, according to data released Friday by corporate tracker CEO Score. Among the nation’s top 500 companies, operating profits rose 17.1 percent year-over-year, climbing to 60.96 trillion won (approximately $44.6 billion) from 52.07 trillion won during the same period in 2024. The findings a

May 16, 2025

Presidential candidates vow to expand high-speed underground rail nationwide

SEOUL, May 16 (AJP) - Two leading contenders in South Korea’s upcoming presidential election have pledged to extend the country’s high-speed underground commuter rail system far beyond the capital, positioning rapid transit as a central campaign promise. Lee Jae-myung of the liberal Democratic Party and Kim Moon-soo of the conservative People Power Party both unveiled plans to expand the Great Train Express (GTX) system, a high-speed undergroun rail network in the Seou

May 16, 2025