PPP fails to replace presidential candidate as party vote blocks leadership's last-minute move SEOUL, May 11 (AJP) - In a dramatic turn just one day before official presidential campaigning begins, South Korea’s conservative People Power Party (PPP) failed in its attempt to replace its presidential nominee, Kim Moon-soo, after a party-wide vote rejected the leadership’s emergency push to install former Prime Minister Han Duck-soo as the new candidate. The internal vote, conducted via an automated response survey (ARS) from 10 a.m. to 9 p.m. on Saturday, asked all PPP members whether they supported canceling Kim’s nomination and replacing him with Han. The party announced after midnight that the proposal had been narrowly voted down. "While we cannot disclose the exact figures, the result was a rejection of the candidate replacement motion by a narrow margin," said Shin Dong-wook, the party’s chief spokesperson. The outcome nullifies the party leadership’s drastic actions taken the night before. Citing emergency powers under Article 74 of the party charter, the PPP’s emergency leadership committee convened in the early hours of May 10 and moved swiftly to revoke Kim’s candidacy, accept Han’s formal party membership, and open a one-hour candidate registration window between 3 and 4 a.m.. The unorthodox process triggered immediate controversy. Critics both within and outside the party accused the leadership of bypassing proper procedure and undermining internal democracy. The sequence of events, initiated after failed unification talks between Kim and Han, was seen by some as a political coup. Kim, a former labor minister and conservative stalwart, responded defiantly, vowing to register with the National Election Commission (NEC) as PPP’s official candidate on Sunday. "Everything is back to where it should be," he said in a statement. "I will immediately launch my campaign and build a big-tent alliance to challenge Lee Jae-myung." The failed switch also brought swift fallout. Kwon Young-se, chair of the PPP emergency committee and the architect of the replacement strategy, resigned to take responsibility for the failed maneuver. “The failure to achieve unification is my fault alone,” he said in a press conference, offering a formal apology to party members and the public. Kwon emphasized that the leadership had acted with the intent of fielding the strongest candidate against Democratic Party frontrunner Lee Jae-myung, but ultimately failed to secure the consensus required to see the plan through. Saturday’s vote reflected widespread concern within the party about the process. While many members agreed on the need to unite the conservative bloc, the abrupt revocation of Kim’s candidacy, done without convening the full national committee or holding open consultations, sparked backlash over procedural legitimacy. The now-defunct plan had been the PPP’s last-minute attempt to salvage a conservative victory through consolidation. Han’s appointment had been framed as a pathway toward unity, especially after unification talks with Kim collapsed earlier in the week over the timing and method of coordination. The situation has left lingering uncertainty and tension within the party, with many predicting a continued fallout over both the leadership’s overreach and the growing ideological rift within the conservative camp. 2025-05-11 02:35:18

Han Duck-soo calls for unity in first press conference after nomination turmoil SEOUL, May 10 (AJP) - Han Duck-soo, the newly designated presidential candidate of the People Power Party (PPP), called for party unity and national reconciliation during a press conference held at 3:30 p.m. on Saturday as the party pressed forward with its decision to replace former labor minister Kim Moon-soo amid deep internal division and legal wrangling. “I never once dreamed of running for president,” Han said in his opening remarks. “But I came to believe over the past three years that unless we change politics, there is no future for this country.” His speech came just hours after the PPP officially began the process of switching its presidential candidate from Kim to Han through an emergency decision by the party’s leadership and election commission. The party cited Article 74-2 of its constitution to justify the move and launched a full-member vote, with final ratification by the national committee set for May 11. Han was formally registered as the new candidate during a tightly controlled one-hour registration window held between 3 and 4 a.m., while Kim Moon-soo, stripped of his nomination, denounced the process as a “political coup” and vowed legal action. Kim filed an injunction Saturday morning seeking to suspend the decision. At the press conference, Han expressed regret over the conflict and pledged to move forward without hostility. “I sincerely apologize to the people and to party members for the confusion,” he said. “I will embrace everyone, including candidate Kim Moon-soo and his supporters. We all share the same desire for victory.” Han emphasized that he had no ambition to hold power for himself and pledged to focus his campaign on constitutional reform and economic recovery. “I have no belief that I must hold every authority,” he said. “I am here only because I believe we must win.” The veteran former prime minister sharply criticized the opposition, saying South Korea could not afford to be ruled by “those who reverse themselves in the afternoon after promising reforms in the morning,” or who “threaten impeachment whenever rulings do not go their way.” He warned that unchecked power concentrated across all branches of government would ultimately destroy the economy. Han also downplayed his own political role, saying, “I am just a stepping stone. I want others to step over me and carry us into the next era.” He said his only ideology was preserving the nation’s economic foundation, adding, “I will do my duty to this country until the day I die.” As the PPP continues its internal vote and braces for legal fallout from Kim’s camp, Han’s remarks signal an attempt to cool tensions and rally support ahead of the June 3 presidential election. --- The following is the full transcript of Han Duck-soo’s statement as delivered during the May 10 press conference: "Dear citizens and fellow party members, I am Han Duck-soo. Never in my life have I dreamed of running for president. But I decided to run because over the past three years, I’ve come to feel deeply that our politics must change. Without change, no matter who takes power, our country has no future. The conflicts and confusion we are facing now will only repeat. We must win. Everyone knows that. But winning is not easy. To win, we must unite and let go of ourselves. I let go of everything when I entered this race. I never believed that only I could do this—not in the past, not now, not ever. I’ve never believed that I must hold all authority. We must all come together. The party should be led by those who have long dedicated themselves to its cause. I intend to focus on constitutional reform and economic revival. I am running solely because I believe we must win. Changing politics to save the economy and the country—that is my only goal, from beginning to end. To achieve that, everyone must unite, and I must add my strength. Unification is the will of the people. Regardless of what has happened, I deeply apologize to the people and to our party members. I will work to ensure that the public never has to witness news like this again. I will embrace everyone. I will focus only on winning, and forget all that came before. I’ve spent decades at negotiation tables. In every successful negotiation, the key is to leave behind the past. I am the person who has done that longest in our country. To candidate Kim Moon-soo, to his supporters, and to all other candidates—I know this has been a painful experience. I believe we all share the same desire for victory. I will embrace you all. I will support and respect you all. Let us move forward. Not for me, but for the people. Let me be clear—our supreme task right now is winning the presidential election. I have officially joined the People Power Party. I will give everything I have—my strength and my wisdom—for this cause. Those who promise reform in the morning and reverse themselves by afternoon... Those who celebrate favorable rulings but respond to unfavorable ones with impeachment threats... Those who propose massive supplementary budgets after cutting core expenditures… Those who push for impeachment regardless of how the country is doing—even talk of impeaching the Chief Justice without shame... Such people must not be allowed to take power. We cannot let them control the legislature, the executive, and the judiciary without checks. The economy will not survive it. The country will not survive it. South Korea did not rise easily. It was built through sweat and hardship. But it can fall easily. Several countries in Latin America were once prosperous. Some say I am a conservative, some say I am a centrist or a progressive. I have only one ideology: this economy we built so painstakingly must not be stopped. To save the economy, we must change politics. If that means winning, I will become Kim Duck-soo, Hong Duck-soo, Ahn Duck-soo, or even Na Duck-soo. All of them are needed and will play big roles. I am just a short-lived stepping stone. I came to serve that role. I sincerely hope they step on my back to carry this country into a better future. Let us unite—not for any one of us, but for our economy and our people. Let us carry them forward on the grandest palanquin. Until my last day, I want to fulfill my duty to the country and people I have served for 50 years. I will carry everyone with me. I firmly believe that in their hearts, we all think the same. Thank you." 2025-05-10 16:48:32

PPP defends candidate switch as last resort, Kim calls move illegal political purge SEOUL, May 10 (AJP) - The People Power Party (PPP) on Saturday defended its decision to revoke Kim Moon-soo’s presidential nomination and initiate the selection of former Prime Minister Han Duck-soo as its new candidate, describing the move as an emergency measure in response to failed unification talks and mounting internal division. The party’s leadership maintains that the action was legal. Speaking at a press conference at the National Assembly, PPP emergency committee chair Kwon Young-se told the leadership made a “painful but necessary decision” under Article 74-2 of the party constitution, comparing the action to the historical Confucian concept of "Eupchammasok"—a righteous but difficult sacrifice of one’s own ally for the greater good. “More than 80 percent of our members wanted unification before the candidate registration deadline,” Kwon said. “They demanded that we field a single, competitive nominee under the PPP banner to defeat Lee Jae-myung and prevent authoritarian rule.” The candidate switch comes after the collapse of unification talks between Kim and the former prime minister. While the PPP leadership insisted that consolidation be completed by the May 11 registration deadline, Kim argued for a public poll scheduled on May 15–16 to determine a unified nominee. As tensions escalated, the party opened a one-hour overnight registration window on May 10, removing Kim and registering Han instead. According to Kwon, the decision was driven by the party’s responsibility to act when unification negotiations failed. “This was not about serving any one faction. It was the last and only hope to win this election,” he said. He also criticized Kim for prolonging the process and undermining internal trust. “For Kim Moon-soo, unification became a tactic to secure the nomination, not a sincere effort to align behind a stronger candidate,” Kwon said, accusing Kim of “spreading falsehoods, attacking the party, and turning supporters against its leadership.” Despite the move, the party emphasized that the switch is not final. The PPP is holding a full-member vote through 9 p.m. on May 10 to determine whether Han should officially become the nominee. A national committee vote on May 11 will follow. If less than half of respondents support the change, the party will reinstate Kim as its candidate. Kim Moon-soo, however, has rejected the leadership’s actions as illegitimate. In a morning press conference held at 9:50 a.m., Kim called the overnight registration process a “political coup” and vowed to pursue legal and political action. “Democracy in our party died last night,” he said. “This was an unconstitutional and illegal purge of a rightfully elected candidate.” Kim also filed an injunction with the Seoul Southern District Court to suspend the party’s decision, just hours after an earlier court rejected a similar request to block the party’s emergency proceedings. As the PPP awaits the outcome of its internal vote and prepares for possible legal fallout, the party now faces the prospect of a deepening internal rift just weeks before the June 3 presidential election. 2025-05-10 13:42:38

Kim Moon-soo calls PPP candidate switch a 'political coup,' vows legal fight SEOUL, May 10 (AJP) - In a press conference held at 9:50 a.m. on Saturday, Kim Moon-soo condemned the People Power Party’s (PPP) early-morning decision to strip him of his presidential candidacy and replace him with former Prime Minister Han Duck-soo. Calling the move a “political coup,” Kim declared his intent to pursue legal and political action against party leaders and urged the public to stand with him in what he described as a fight to defend South Korea’s democracy. “Democracy within our party died last night,” Kim said, standing before reporters just hours after the PPP formally canceled his nomination and registered Han as its new candidate under Article 74-2 of the party’s constitution. The party leadership opened a one-hour candidate registration window between 3 a.m. and 4 a.m. following the breakdown of unification talks between Kim and Han. The PPP has argued that its decision was backed by overwhelming party sentiment and justified under internal rules allowing candidate replacement in exceptional circumstances. The move is set to be finalized through a party-wide vote on May 10 and ratified by the national committee on May 11. However, Kim refused to accept the result. “What happened last night is not just an internal issue—this is unprecedented in our constitutional history,” he said. He accused party leaders of plotting his removal even before he was nominated, alleging that Han had been their pre-selected candidate all along. Kim also criticized the registration process itself, which he said involved submitting over 30 documents with virtually no notice. “They pushed it through at 3 a.m., in just one hour. That alone shows how illegitimate this process was,” he said. He vowed to take immediate legal steps to challenge the decision and warned of consequences for those responsible. “I will continue to fight to protect the Republic of Korea’s liberal democracy,” Kim declared. “We must defend the values we’ve upheld through blood and sacrifice.” Despite the party’s withdrawal of support, Kim has maintained that he remains the legitimate PPP candidate and said he will attempt to register independently with the National Election Commission. --- The following is the full transcript of Kim’s statement, as delivered at the press conference: “Dear citizens and fellow members of the People Power Party, I am Kim Moon-soo, your presidential candidate. I hope you were well through the night. Last night, the emergency leadership committee of the People Power Party unlawfully stripped me of my candidacy—a position I was rightfully elected to by the people and our party members. Democracy within our party died last night. I sincerely apologize to the members and citizens who supported me despite my shortcomings. A political coup unfolded in the dead of night. What took place is unprecedented not only in Korean constitutional history but in global democratic history. Our party, which should have been standing up against the political monster Lee Jae-myung, turned into a monster itself. According to our party constitution, the presidential candidate must be elected at a party convention or by its delegate body, the National Committee. But before any such committee even convened, the emergency leadership, which had no such authority, pushed through a candidate replacement. This is a blatant violation of the party’s rules. The leadership had decided on Han Duck-soo as the candidate long before I was selected and made repeated efforts to push me out. Around 1 a.m. today, they ultimately revoked my nomination. Then at 3 a.m., they rushed through a one-hour registration process requiring 32 documents, effectively forcing a new candidacy in the dark. I will immediately take legal and political action against this illegal and unjust attempt to replace the party’s rightful candidate. I will hold those responsible for this crisis accountable, both legally and politically. I will continue to fight to protect the Republic of Korea’s liberal democracy. We must defend the values that we’ve upheld through blood and sacrifice. To the citizens of this country. I ask you to stand with me, Kim Moon-soo. Thank you.” 2025-05-10 10:11:27

PPP moves to replace Kim Moon-soo with Han Duck-soo as presidential nominee SEOUL, May 10 (AJP) - The People Power Party (PPP) launched an unprecedented candidate replacement process early Saturday morning, canceling Kim Moon-soo’s nomination and registering former Prime Minister Han Duck-soo as its new presidential candidate, following the collapse of unification talks between the two conservative contenders. At around 3 a.m. on May 10, PPP election committee chair Lee Yang-soo announced via the party's website that Han had been officially registered as the party’s presidential nominee, citing Article 74-2 of the party constitution and related regulations. This came shortly after Lee issued a prior notice declaring the cancellation of Kim’s nomination and the opening of a one-hour candidate registration window from 3 a.m. to 4 a.m. The move follows the breakdown of negotiations between Kim and Han over how and when to consolidate their candidacies. While the party leadership pushed for unification before the May 11 deadline for official registration with the National Election Commission, Kim had insisted on conducting public polling on May 15–16 to determine a single candidate. In response, the party invoked a rule allowing the emergency leadership committee to determine candidate nomination procedures under “extraordinary circumstances.” Party officials cited the results of a May 7 internal survey in which 86.7 percent of members supported unification before the NEC deadline as justification for the switch. An additional internal preference poll was conducted among party members and the public on May 8 and 9 to gauge support between Kim and Han. While the results were not publicly disclosed, sources said Han held the lead. The party plans to complete the nomination process through a full-member vote on May 10, followed by a final confirmation by the national committee on May 11. Despite a series of legal challenges by Kim’s camp, including a request to prevent the national committee from convening, the Seoul Southern District Court dismissed all injunctions, effectively clearing the way for the party to proceed. Kim, however, has refused to back down. He announced plans to independently register with the National Election Commission as the PPP’s official candidate and requested access to the party’s nomination seal and the required deposit account for registration. His chief of staff, Kim Jae-won, declared the leadership’s actions “clearly illegal” and confirmed Kim’s intention to proceed with registration on the morning of May 10. With the party leadership unlikely to cooperate with the registration process, a legal and political standoff now appears inevitable. The fallout from the early-morning decision has exposed deep rifts within the PPP. One sitting lawmaker called the leadership’s action “unavoidable,” while others expressed concern that the party could now face a prolonged legal and internal crisis. 2025-05-10 09:42:51

South Korea posts current account surplus for 23rd straight month SEOUL, May 9 (AJP) - South Korea continued its current account surplus streak for the 23rd straight month, the Bank of Korea (BOK) said on Friday. According to preliminary data compiled by the central bank, the surplus reached around US$9.14 billion in March, up $2 billion from the previous month. Exports of goods rose slightly from a year earlier to around $59.31 billion, backed by a recovery in shipments of semiconductors and computer-related devices. Imports also went up more than two percent to $50.82 billion. The service account, which includes tourism and shipping, remained in the red but narrowed its deficit to $2.21 billion, down from $3.21 billion the previous month, as the spring travel season began. By country, exports saw a surplus with Southeast Asian nations and Europe, but posted a shortfall with China. Meanwhile, the BOK raised its gloomy outlook, suggesting that its projection of $75 billion for this year's current account surplus is likely to be revised downward due to the effects of U.S. President Donald Trump's sweeping tariff policy. 2025-05-09 17:59:46

BYD's compact SUVs top imported EV sales, but why are they hardly seen on the streets? SEOUL, May 9 (AJP) - Chinese automaker BYD's Atto 3 has overtaken Tesla to become the best-selling model in the domestic imported electric vehicle market, according to data released by the Korea Automobile Importers and Distributors Association earlier this week. Some 543 units of the compact SUV were sold last month, narrowly surpassing the Tesla Model Y Long Range, which sold 533 units, followed by other Tesla models. Despite the feat, many motorists are baffled, as the vehicle is rarely seen on the roads. "Deliveries to consumers just started in mid-April, so it will take time for the figures to reflect and for the change to be felt," a BYD spokesman told AJP on Friday. He added that purchases made by individual customers outnumbered corporate purchases. Launched here in January, the Atto 3 quickly racked up over 1,000 pre-orders within a week, causing delays in delivery. Equipped with BYD's lithium iron phosphate (LFP) Blade Battery, the eco-friendly car can travel as far as 321 kilometers on a single charge. The base trim is priced at 31 million won, which can be purchased for under 30 million won after applying government and local subsidies. In contrast to industry observers who were initially skeptical about BYD's entry into a market known for South Koreans' penchant for ostentatious vehicles, its competitive prices might have enticed many consumers. BYD has been accelerating its promotional strategy to attract more customers here. The Chinese automaker set up a booth right next to the country's auto giant Hyundai Motor at last month's Seoul Mobility Show, actively targeting domestic consumers here. 2025-05-09 17:50:11

Naver posts mixed earnings results for 1st quarter SEOUL, May 9 (AJP) - Naver posted robust first-quarter sales while its net profit fell, according to figures released by the South Korea's largest portal on Friday. Sales for the first three months of this year reached 2.79 trillion won (US$1.99 billion), up 10.3 percent from the same period last year, backed by steady growth across its diverse business sectors despite intensifying competition and challenges in emerging technologies including artificial intelligence (AI). Operating profit jumped 15 percent to 505.3 billion won, but net profit tumbled 23.8 percent to 423.7 billion won. The search-related division, which takes the lion's share of the company's business sectors, saw an 11.9 percent surge in revenue to 1.01 trillion won, driven by AI-optimized advertising. The commerce unit followed with a 12 percent growth on-year, with on-platform transaction volume increasing by 10.1 percent. The fintech division saw an 11 percent increase, processing 19.6 trillion won in payments through its app Naver Pay, up 17.4 percent from the previous year. "Naver secured unmatched competitiveness by building an ecosystem that AI cannot replace, connecting our own content and data," said CEO Choi Soo-yeon. Addressing concerns about AI's impact on the market overall, Choi commented that, based on internal data, there were no adverse effects, with traffic continuing to rise for business-related queries where the company maintains relative strength, compared to market rivals. Naver also revealed plans to launch a service in partnership with grocery delivery app Kurly in the second half of the year, further strengthening its recently launched separate shopping platform. 2025-05-09 16:40:58

Rising demand for data centers reshapes global real estate market, research reveals SEOUL, May 9 (AJP) - A surge in global demand for data centers is significantly influencing the dynamics of the real estate market around the world, according to a recent analysis by Cushman & Wakefield. The global commercial real estate services firm compared data centers worldwide and found that development pipelines have reached historic levels this year, with North and South America driving market growth. Virginia stands at the forefront with ongoing development exceeding 15 gigawatts in planned capacity, along with the expansive presence of data centers for tech giants such as Amazon, Google, and Microsoft. "We expect total capacity to continue expanding across all global regions, with each projected to see at least double-digit growth based on current development pipelines," said John McWilliams, a head researcher at Cushman & Wakefield. Development strategies are pivoting from urban centers toward peripheral locations. Phoenix, Sydney, and Virginia are garnering attention as suburban markets capable of accommodating high-power integration, reflecting an industry-wide push to secure expansive sites for sustainable campus-style developments. Non-traditional industrial sectors including electric vehicle and semiconductor companies, have joined the competition to acquire sites with pre-established utility connections. These properties have become valuable strategic assets amid long wait times for power supply. While the Midwest region of America maintains relatively affordable costs, areas such as Indianapolis and Iowa face mounting price pressures due to demand spillover from neighboring high-cost markets. The Asia-Pacific region continues its steady growth despite supply constraints. Ten of the world's top 30 locations are included in this region, with Johor Bahru in Malaysia and Singapore recording the lowest vacancy rates. Beijing secured eighth place in overall rankings, surpassing several U.S. cities, and ranks second globally behind Virginia in operational market size. Notable growth in the Asia-Pacific region also includes Seoul, which ranked ninth in the established market rankings, while Busan secured third place in the emerging market rankings. 2025-05-09 15:58:21

Excitement builds early for New Pope's planned visit to Seoul SEOUL, May 9 (AJP) - With a new pope elected to lead the Roman Catholic Church at the Vatican on Thursday, religious leaders and other faithful here are expressing high expectations. Although they may have to wait a few more years to see the new pope in person, excitement is already building ahead of his planned visit to Seoul in 2027. White smoke billowed from the chimney of the Sistine Chapel on the second day of the Vatican's conclave, attended by nearly 130 cardinals, as they voted for American-born Cardinal Robert Francis Prevost, now Pope Leo XIV, to become the next pontiff. His scheduled visit to South Korea is to attend World Youth Day (WYD), an international Catholic event that gathers hundreds of thousands of young believers from around the world. The event, initiated by Pope John Paul II in 1985, was last held in Lisbon in 2023, where his predecessor Pope Francis, announced Seoul as the next host city. Once he travels to Seoul as planned, Prevost will become the third pope to visit the country, following Paul II who visited twice in 1984 and 1989, and Francis in 2014. Meanwhile, Prevost is considered more moderate than his predecessor Francis, who was widely considered one of the most liberal popes. Born in Chicago in 1955, Prevost was ordained as a priest in 1982 and is a member of the Order of Saint Augustine. He is the first American and the first from the order to ascend to the papacy. He is also a citizen of Peru, where he has spent most of his life as a missionary, serving poor and underprivileged communities. 2025-05-09 15:24:02