Lee holds phone talks with Singapore PM SEOUL, June 30 (AJP) - President Lee Jae-myung talked with Singaporean Prime Minister Lawrence Wong over the phone, presidential spokesperson Kang Yu-jung said on Monday. In their first phone conversation since Lee took office early this month, the two leaders discussed a wide range of issues to strengthen bilateral cooperation across various fields. According to Kang, Wong congratulated Lee on his election and expressed hope for closer ties, as this year marks the 50th anniversary of diplomatic relations between the two countries. The two leaders also agreed to "establish a strategic partnership" in key areas including artificial intelligence (AI), while promoting peace and stability on the Korean Peninsula. Lee invited Wong to attend the upcoming Asia-Pacific Economic Cooperation (APEC) summit, scheduled to take place in the historic southern city of Gyeongju in late October, with Wong expressing confidence in South Korea's successful hosting of the event. 2025-06-30 17:13:33

Emart24 to launch first Korean convenience store in India this August SEOUL, June 30 (AJP) - Convenience store chain Emart24 will open its first store in India this August, marking the brand’s debut in one of the world’s fastest-growing consumer markets. The company has signed a brand licensing agreement with Jung Brothers Hospitality and the Indian real estate developer Solitaire Group. The flagship store will be located in Pune, Maharashtra, a major urban center and educational hub. The agreement was formalized at Emart24’s headquarters in Seoul’s Seongsu-dong, with CEO Choi Jin-il, Jung Brothers founder Peter Jung, and Rakesh Jaipathak, leasing director at Solitaire Group, in attendance. Spread across two floors in the Solitaire Business Hub, the Pune store will offer Emart24’s signature No Brand line, along with curated Korean products including prepared meals, cosmetics, and lifestyle goods. The upper floor will house a beauty section and a Korean-style self-service photo booth aimed at younger consumers seeking cultural experiences. The ground floor will feature a dining area with 68 seats — 36 indoors and 32 outdoors — and a counter-food zone serving popular Korean street foods such as tteokbokki, gimbap, and Korean-style hot dogs. Emart24 noted that these offerings reflect growing enthusiasm for Korean cuisine and pop culture among India’s Gen Z and millennial demographics. “This is the first time a Korean convenience store is entering the Indian market,” the company said in a statement. “We believe Emart24’s differentiated offerings and curated design will resonate with young Indian consumers.” Unlike a master franchise, the brand licensing model gives Jung Brothers and its partners the right to operate Emart24-branded stores without the authority to sub-franchise. The company said the model allows for greater operational focus and control in the early phase of market entry. While India’s retail sector is still dominated by small, family-run kirana stores — estimated to account for 75 percent of the market — Emart24 believes there is untapped demand for convenience-focused, youth-oriented retail concepts. According to the company, 47 percent of India’s population is under the age of 25, making it the youngest consumer market in the world. 2025-06-30 16:56:55

Naver Cloud signs MOU with New Murabba to support Saudi Arabia's smart city ambitions SEOUL, June 30 (AJP) - South Korea’s Naver Cloud has entered into a strategic partnership with Saudi Arabia’s New Murabba Development Company to help build a new smart city in the heart of Riyadh. The memorandum of understanding (MOU) was signed on Jun. 30 by Naver Cloud CEO Kim Yu-won and New Murabba CEO Michael Dyke during the New Murabba Investment and Partnership Forum, held at the Floating Island Convention center in Seoul. Under the agreement, both sides will work together over the next three years to introduce advanced technologies into the New Murabba project. Areas of cooperation include robotics, autonomous mobility, digital construction monitoring, and cloud-based smart city platforms. As the cloud service division of South Korean tech giant Naver, Naver Cloud is expected to play a central role in laying the digital foundation for what Saudi Arabia envisions as a next-generation urban district. "New Murabba is not just building another destination. We’re creating a new way of life," Dyke said during the signing ceremony. "This is where vision meets technology, and where Saudi Arabia’s ambition for a diversified, future-ready economy becomes real." A flagship initiative of the Public Investment Fund (PIF), New Murabba is being developed as a 14-square-kilometer (5.4-square-mile) mixed-use district in central Riyadh. It is based on the "15-minute city" concept, designed so that housing, work, leisure, and essential services are all within a short walk or commute. At the center of it all is the Mukaab, a towering cube-shaped structure set to become one of the largest built environments in the world. The 400-meter-tall Mukaab will combine cultural, commercial, residential, and entertainment functions, supported by immersive digital technology and its own operating system. New Murabba is part of Saudi Arabia’s broader Vision 2030 strategy, which aims to reduce the country’s reliance on oil and reposition Riyadh as a hub for global business and tourism. Once completed, the project is expected to include more than 100,000 homes, 10,000 hotel rooms, and essential services such as schools and hospitals. It will also feature a 45,000-seat stadium, one of the planned venues for the 2034 FIFA World Cup. The development is projected to create over 300,000 jobs. The agreement with Naver Cloud marks a significant step in bringing international technology expertise into the project. Dyke noted that New Murabba’s complexity requires partners capable of operating at scale. "We believe that if you're going to create the most extraordinary place on the planet, you need to look at where innovation is already happening, which is why Naver is such a great fit," he said. While the focus of the day was on digital technology, attention also turned to construction. Asked whether South Korean builders were being considered as partners, Dyke said yes but declined to name specific firms due to an ongoing competitive process. "We are currently in a competitive process and expect to form consortia that bring together the world’s top capabilities, including from South Korea," he said. Major South Korean construction companies such as Hyundai Engineering & Construction, Samsung C&T, and GS E&C have long histories of working in the Middle East, particularly in Saudi Arabia. Many played a key role in the Kingdom’s infrastructure boom in the 1970s and 1980s. Dyke acknowledged this legacy, adding, "South Korea already has strong relationships and a proven track record in Saudi Arabia, and we’re confident that those ties will play a role in the next chapter of Riyadh’s transformation." As for the scale of the deal with Naver Cloud, Dyke said the size and scope would be finalized during the next phase of planning. "Signing is the easy part," he said. "Now comes the hard work, getting the details right and making sure we create the most value possible for both sides." 2025-06-30 16:09:45

Season's first heat wave advisory issued in Seoul SEOUL, June 30 (AJP) - This summer's first heat wave advisory was issued for Seoul as daytime highs soared to over 30 degrees Celsius on Monday. The Korea Meteorological Administration (KMA) issued the advisory for the capital at noon, about 11 days later than last year. Such an advisory is issued when daytime highs soared over 33 degrees Celsius and are expected to persist for two days or longer. According to the KMA, the advisory came after the capital sweltered through its first tropical night, when the mercury did not drop below 25 degrees at night. Similar heat advisories were also issued for most parts of the country including neighboring Gyeonggi Province, Gangwon Province, and southern provinces, as sizzling heat gripped the nation, with daytime highs soaring between 27 and 35 degrees. "The scorching heat along with lingering humidity is expected to persist for a while, although sporadic showers will temporarily abate a little in some areas," the KMA warned. 2025-06-30 15:56:22

New finance minister expected to drive AI-led fiscal reform SEOUL, June 30 (AJP) - South Korean President Lee Jae Myung on Sunday nominated Koo Youn-chul, a former government policy coordination chief and vice finance minister, to lead the Ministry of Economy and Finance, filling a key economic post that has stood vacant for more than two months. The appointment of Koo, a 60-year-old career bureaucrat and current visiting economics professor at Seoul National University, is seen as a strategic move to inject momentum into the Lee administration’s economic agenda and recalibrate the country’s fiscal policy direction. His nomination follows the resignation of former Finance Minister Choi Sang-mok in April. Born in Seongju, North Gyeongsang Province, in 1965, Koo joined the civil service after passing the state administration exam. He rose through the ranks of the Ministry of Economy and Finance, serving as budget director and second vice minister, and later became head of the Office for Government Policy Coordination under the Moon Jae-in administration. Known for his deft handling of complex policy portfolios, Koo played a central role in the country's pandemic-era economic response, overseeing emergency budgets and managing inter-ministerial coordination on contentious issues such as real estate policy. His expertise spans traditional fiscal policy as well as emerging fields like artificial intelligence — skills that officials say align closely with the new government’s dual emphasis on economic revitalization and digital innovation. At a press briefing on Sunday, Koo outlined his priorities: reviving domestic demand, managing external uncertainties, and fostering long-term economic innovation. He also underscored the need for strategic public investment, likening the state's role to that of a private firm seeking profit to survive. “The state must invest efficiently — like companies that perish without profit — to discover future growth engines for sustainable development,” he said, emphasizing South Korea’s ambitions to become a global AI leader. His nomination is expected to restore regular operations of economy-related ministerial meetings, which have been stalled since Choi’s departure. One of Koo’s first challenges will be spearheading a major reorganization of the finance ministry itself — an ambitious reform that involves separating budget functions and integrating financial policy departments. The structural overhaul will require careful navigation of inter-agency boundaries, involving coordination with the Financial Services Commission, the Ministry of Trade, Industry and Energy, and the Ministry of Land, Infrastructure and Transport. Observers say the success of these efforts will depend heavily on Koo’s ability to harmonize competing institutional interests while steering South Korea through a period of low growth and fiscal uncertainty. 2025-06-30 15:56:20

Salaried workers to get fewer public holidays next year SEOUL, June 30 (AJP) - Salaried workers or those with a five-day workweek will have 118 days off next year including weekends, one day fewer than this year, the Korea Aerospace Administration said Monday. There will be 52 Sundays and 20 national holidays including Lunar New Year's Day and other make-up holidays. Three national holidays - Memorial Day, Liberation Day, and National Foundation Day - fall on a Saturday while some others such as March 1 Independence Movement Day and Buddha's Birthday will fall on a Sunday and be substituted with a day off the following Monday. The longest holiday is the Lunar New Year break that lasts five days in mid-February, followed by Chuseok or Korean Thanksgiving which will be four days long in September. Several holidays falling on weekends mean there will be fewer days off next year, as make-up holidays will not be granted for some. 2025-06-30 14:53:58

'Squid Game' Season 3 spurs retail frenzy in South Korea SEOUL, June 30 (AJP) - As Squid Game returns to screens for its third season, South Korea’s retail sector is turning the Netflix juggernaut into a merchandising powerhouse, deploying immersive pop-ups, collectible goods, and brand collaborations to capture the momentum of the global hit. From convenience store chains to luxury department stores, businesses are rushing to stake their claim in what has become one of the year’s most aggressively commercialized entertainment franchises. GS25, a major Korean convenience store operator, has partnered with Netflix to release a series of exclusive products tied to the new season. The lineup includes a lenticular T-Money transit card featuring the show’s returning mascot Younghee and newcomer Cheolsu, a jump rope-shaped jelly candy nearly two meters long, and chewy dalgona cookies that pay homage to the viral “dalgona challenge” from Season 1. The products are on display at Netflix’s official Squid Game pop-up at Gwanghwamun Plaza, which runs through July 6. According to GS Retail, its various collaborations with Netflix have sold more than 30 million items to date, including 6.3 million Squid Game-branded products. The franchise alone has generated more than 12 billion won, or about $8.6 million, in revenue. “We aim to go beyond the boundaries of a traditional convenience store and position ourselves as a cultural platform through collaborations with world-renowned Korean content,” said Lee Jeong-pyo, head of marketing at GS Retail. At the high end of the retail spectrum, Shinsegae — South Korea’s premier department store group — has launched its own multi-city pop-up initiative as the only official Korean merchandising partner for Squid Game Season 3. The first leg of the pop-up spans Shinsegae’s flagship Gangnam store and its Centum City location in Busan, where visitors are greeted by life-sized pink guards, mascot statues, and experiential zones designed to attract crowds. The displays will run through July 10 before relocating to Daegu and Seoul’s Times Square Mall from July 18 to 31. The department store’s retail program includes over 200 officially licensed items, ranging from apparel and lifestyle accessories to reimagined Korean game kits. Participating brands include J.Lindeberg, Odd Sox, CAPL, and Breezefi. Purchases made with Shinsegae credit cards qualify for additional discounts, reinforcing the commercial pull of the collaboration. The retail push underscores a broader evolution of Squid Game — from a dystopian drama to a full-fledged global brand platform. With immersive marketing, collectible merchandise, and high-profile partnerships, the show’s off-screen presence is now nearly as elaborate as its on-screen world. 2025-06-30 14:27:03

POSCO to launch lithium extraction project in US SEOUL, June 30 (AJP) - POSCO Holdings said on Monday that it plans to produce lithium in the United States for the first time, positioning itself at the forefront of efforts to localize battery material supply chains in North America. In a memorandum of understanding signed with Australia’s Anson Resources, POSCO will build and operate a demonstration plant in Green River City, Utah, deploying its proprietary direct lithium extraction (DLE) technology. The agreement marks the first instance of a Korean company attempting to extract the key battery metal on U.S. soil. Under the terms of the partnership, Anson will provide lithium-rich brine feedstock and land access at its concession site, while POSCO will test the commercial feasibility of its DLE technology, which the company has been developing since 2016. The facility, expected to break ground next year, is designed to validate POSCO’s method for recovering lithium from low-concentration brine — an approach the company says could unlock previously inaccessible reserves and help diversify global supply. Lithium, a critical component in electric vehicle batteries and energy storage systems, is currently sourced largely from salt flats in South America and hard rock mines in Australia. POSCO estimates that as much as 87 percent of the world’s lithium reserves are found in salt lake brines, but conventional extraction methods rely on slow, land-intensive evaporation processes ill-suited for regions like the United States. POSCO’s technology, by contrast, offers a more compact and potentially faster method of extracting lithium from brines, making it an attractive alternative for resource development in North America, where environmental and regulatory hurdles can hinder large-scale evaporation projects. The initiative also comes as the Trump administration places renewed emphasis on domestic sourcing of critical minerals. Trump has imposed tariffs on a range of imports, including steel, POSCO’s flagship business, fueling interest among Korean manufacturers in U.S.-based production. POSCO currently operates lithium operations in Argentina with an annual capacity of 25,000 tons and a 43,000-ton facility in Yulchon, South Korea, that processes spodumene ore. Combined, these sites supply enough lithium hydroxide to power roughly 1.6 million electric vehicles per year. 2025-06-30 14:19:53

Technocrat-turned-executive to guide Korea's energy policy SEOUL, June 30 (AJP) - In a move signaling South Korea’s deepening commitment to pragmatic industrial policy, President Lee Jae-myung on Sunday nominated Kim Jung-kwan, a technocrat-turned-corporate strategist, as the next Minister of Trade, Industry and Energy. The choice of Kim, currently president of Doosan Enerbility, places a seasoned public servant with cross-sector experience at the helm of a ministry central to Korea’s energy transition and industrial competitiveness. Born in 1968 in the southwestern county of Jangseong, Kim's path reflects South Korea’s archetypal elite technocrat. He graduated from Seoul National University with a degree in economics before earning a doctorate in the same field from the University of Missouri in 2002. After passing the nation’s civil service exam in 1993, he embarked on a public career shaped by fiscal planning and economic strategy. Over nearly two decades in government, Kim rotated through pivotal roles at what is now the Ministry of Strategy and Finance. He worked on service-sector policy, government bond markets, and long-term economic planning, steadily gaining a reputation as a behind-the-scenes thinker who bridged detail with big-picture policy. He also served abroad, including a stint at the International Bank for Reconstruction and Development, where he focused on concessional finance for developing countries. Back home, he held key posts at the Bank of Korea, steering conversations on capital markets and global macroeconomics. But it was his pivot to the private sector in late 2018 that distinguished him from many of his technocratic peers. Joining the Doosan Group — one of South Korea’s leading conglomerates— he became a high-ranking strategist and later moved to Doosan Enerbility, a core player in the country’s push into next-generation nuclear and renewable energy. There, he oversaw global marketing efforts and worked directly with foreign governments to tailor energy solutions to local policy environments — an approach his colleagues said combined government savvy with business pragmatism. In announcing his nomination as the trade minister, Presidential Chief of Staff Kang Hoon-sik described Kim as “a practical talent” uniquely positioned to translate policy vision into execution. “He understands both the intent behind government decisions and the realities industries face,” Kang said during a press briefing. Kim’s nomination comes as South Korea seeks to recalibrate its energy strategy amid intensifying global competition in advanced manufacturing and growing urgency around decarbonization. The country has pledged to expand its nuclear energy capacity while investing in hydrogen and wind power. Analysts say Kim’s appointment signals a focus on technocratic continuity and market-aligned policymaking — a blend that may help the Lee administration navigate a complex industrial future. 2025-06-30 11:28:23

South Korean pair claims maiden LPGA victory at Dow Championship in Michigan SEOUL, June 30 (AJP) - Golfers Im Jin-hee and Lee So-mi secured their maiden LPGA title by winning the Dow Championship in the U.S. on Sunday. In the fourth and final round of the championship in Midland, Michigan, the South Korean pair finished at 20-under 260, leading to a playoff in which they birdied the first hole to beat the American team of Megan Khang and Lexi Thompson. Another South Korean team, Park Sung-hyun and Yoon Ina, tied for fourth at 11-under. With Sunday's victory, Im and Lee, both in their second year on the LPGA Tour, became the first South Koreans to win the championship, which was first held in 2019 as a unique four-day tournament where players team up in pairs to compete with varied formats. Their feat also brought South Korea's tally of LPGA victories this season to four, after Kim A-lim, who captured the season opener by winning the Hilton Grand Vacations Tournament of Champions in Florida in February; Kim Hyo-joo, who won the Ford Championship in Arizona in April; and Ryu Hae-ran, who claimed the Black Desert Championship in Utah the following month. Im and Lee each took home a winning purse of $399,510. 2025-06-30 11:19:10