North Korea and Belarus step up economic cooperation with Pyongyang meetings SEOUL, May 08 (AJP)—North Korea welcomed a senior Belarusian delegation to Pyongyang this week, signaling growing ties between the two countries through a series of working-level talks and a formal banquet held on Tuesday. The Belarusian delegation will remain in North Korea until May 9. The visit, led by Belarusian Deputy Prime Minister Yuri Shuleiko, comes ahead of the third North Korea–Belarus Joint Committee on Trade and Economic Cooperation session, marking the first of its kind in 19 years. The last session was held in Minsk in 2006. According to North Korea’s state-run Korean Central News Agency (KCNA) on Thursday, officials from both sides sat down for detailed discussions on cooperation across various sectors. The two countries are expected to finalize new agreements during the upcoming joint committee meeting. Later that evening, North Korean officials hosted a welcoming banquet at the Mansudae Assembly Hall. Deputy Prime Minister Jong Myong-su and Vice Foreign Minister Kim Jong-kyu attended on behalf of the North Korean government. Jong said he hoped the visit would help advance friendly relations and voiced confidence that exchanges and cooperation between the two sides would continue to grow. Shuleiko, for his part, emphasized the importance of expanding contact and practical collaboration “for the benefit of both peoples.” Belarus has been one of Russia’s most vocal supporters since the start of the war in Ukraine. North Korea, which has grown increasingly close to Moscow, has also moved to bolster ties with Belarus, including holding foreign ministerial talks in Pyongyang last July. 2025-05-08 15:11:58

North Korea fires multiple ballistic missiles into East Sea SEOUL, May 8 (AJP) - North Korea fired multiple short-range ballistic missiles into the East Sea on Thursday, according to military authorities here. The missiles were launched from the North's eastern coastal city of Wonsan at around 8:10 a.m. "We detected signs of the launch and closely monitored the situation," the Joint Chiefs of Staff (JCS) said. "We have also heightened surveillance in preparation for possible additional launches, maintaining close coordination with intelligence agencies from the U.S. and Japan." Thursday's launch came shortly after North Korean leader Kim Jong-un inspected several facilities including visits to factories producing artillery and tanks last week. The North has conducted four ballistic missile launches so far this year including an intermediate-range hypersonic missile in January, a short-range ballistic missile (SRBM) about a week later, and a close-range ballistic missile (CRBM) with a slightly shorter range than an SRBM in March. The renegade country seems to opt for minor provocations with short-range missiles rather than long-range ones, in an apparent move to draw U.S. attention without provoking it. However, some pundits speculate that these missile launches may be linked to its weapons exports to Russia amid their deepening military ties. 2025-05-08 14:39:06

KEPCO, KHNP head to international arbitration over UAE nuclear project SEOUL, May 08 (AJP) - Korea Hydro & Nuclear Power (KHNP) has filed for international arbitration against its parent company, Korea Electric Power Corporation (KEPCO), over a protracted dispute involving more than $1 billion in unsettled construction costs tied to South Korea’s landmark nuclear power project in the United Arab Emirates. According to the KHNP, it has brought the case to the London Court of International Arbitration, citing unresolved payments related to the Barakah nuclear power plant. The dispute stems from cost overruns during the decade-long construction of the facility, which marked South Korea’s first foray into exporting nuclear reactor technology. The Barakah project, valued at approximately 20 trillion won (roughly $15 billion), was initiated in 2009 after KEPCO signed a contract with the Emirates Nuclear Energy Corporation. KEPCO later subcontracted much of the work to KHNP and other domestic partners. But as costs ballooned — due in part to the COVID-19 pandemic and global supply chain disruptions linked to the war in Ukraine — KHNP began seeking reimbursement from KEPCO for the overruns. KHNP formally initiated negotiations in late 2023, though industry officials say the company had been raising concerns over the extra costs since at least 2020. The dispute escalated after Barakah Unit 4, the last of the four reactors, began commercial operations in September of last year. KEPCO, which is grappling with debt exceeding 200 trillion won (around $145 billion), has rejected KHNP’s claims, arguing that it cannot make any additional payments until it receives compensation from its Emirati counterpart. “Settlement cannot be made without receiving additional funds from the client,” the company said in a statement. KHNP has countered that failure to resolve the issue risks undermining trust and jeopardizing future cooperation between the firms. Despite a high-level meeting between the two companies’ presidents in January, the standoff deepened in February when KEPCO’s chief, Kim Dong-chul, told lawmakers he “cannot accept” KHNP’s demands. The clash has drawn attention to long-simmering structural tensions within South Korea’s power sector. Though KHNP is a wholly owned subsidiary of KEPCO, the two have increasingly jostled for leadership in nuclear exports, particularly since the 2001 restructuring that divided the country’s power industry into separate generation entities. Observers say the conflict highlights governance gaps and poor coordination within the state energy apparatus. Critics have also pointed fingers at the Ministry of Trade, Industry and Energy, accusing it of failing to step in as a mediator. “The ministry, which oversees public corporations, should have intervened earlier,” said one former senior official, who spoke on condition of anonymity. “This situation was allowed to fester because no one wanted to take responsibility during the government transition period.” 2025-05-08 14:14:10

India justifies cross-border strikes as fallout from Kashmir attack SEOUL, May 08 (AJP) - India explained Wednesday that its recent airstrikes on targets in Pakistan and the Pakistani-administered part of Kashmir were aimed at dismantling terrorist networks linked to last month’s deadly attack on civilians in the Kashmir valley. The strikes, carried out early on May 7 under what the government has dubbed “Operation Sindoor,” came in response to an attack on April 22 in the resort town of Pahalgam in Indian-administered Kashmir. Gunmen opened fire on a group of unarmed tourists, killing 26 people, including one Nepali national, and wounding several others. Authorities described the killings as unusually brutal, with several victims reportedly shot at close range. It was the deadliest attack on civilians in the region in over two decades and came during a time when tourism in Kashmir had reached record highs, with more than 23 million visitors last year. Indian officials have blamed the assault on Lashkar-e-Taiba (LeT), a Pakistan-based group banned by the United Nations, and said a lesser-known outfit called The Resistance Front (TRF), which later claimed responsibility, was acting as a front for the larger organization. Foreign Secretary Vikram Misri said the attack was intended to disrupt the region’s return to normalcy and economic recovery, and that Indian intelligence had identified cross-border communications linking the attackers to handlers in Pakistan. India maintains that its strikes were focused and restrained, targeting only what it described as terrorist infrastructure while avoiding military sites. Misri called the operation proportionate and consistent with an April 25 statement by the UN Security Council urging accountability for the Pahalgam killings. Pakistan has denied involvement in the April 22 attack and condemned India’s actions as unprovoked aggression. Islamabad reported civilian casualties and claimed its forces had downed multiple Indian aircraft, though Delhi has not commented on those claims. Pakistan has also accused India of using the incident to justify a breach of its sovereignty. The escalation has renewed long-standing tensions between the two nuclear-armed neighbors, who have fought multiple wars and remain in dispute over Kashmir. The UN, the European Union, and several governments have called on both sides to exercise restraint and return to diplomatic dialogue. 2025-05-08 11:24:42

In shift from oil, Saudi Aramco bets on clean energy Khursaniyah Plant operated by Saudi Aramco/ Courtesy of Saudi Aramco Editor's Note: This article is the 17th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, May 7 (AJP) - Saudi Aramco, the oil behemoth that has long fueled the Saudi economy, is increasingly steering its focus toward cleaner technologies, signaling a significant pivot in one of the world’s most carbon-intensive industries. On April 21, Aramco, through its subsidiary Saudi Aramco Technologies Company (SATC), announced a joint development agreement with China’s BYD, one of the world’s leading electric vehicle manufacturers. The partnership aims to advance technologies related to new energy vehicles, including those that improve powertrain efficiency and reduce emissions. “The collaboration between SATC and BYD aims to support energy efficiency improvements, and it builds on Aramco’s extensive research and development of new energy solutions,” said Ali A. Al-Meshari, a senior vice president at Aramco. The move is part of a broader strategy to diversify beyond crude oil and position itself as a global leader in low-carbon and chemical innovation. “Aramco is exploring a number of ways to potentially optimize transport efficiency, from innovative lower-carbon fuels to advanced powertrain concepts,” Al-Meshari added. Founded in 1933 through a concession agreement between the Saudi government and Standard Oil of California, Aramco has grown into one of the most profitable companies in the world. Its first commercial oil production came in 1938 at the Dammam No. 7 well, known as the “Prosperity Well.” The company was rebranded as the Arabian American Oil Company (Aramco) in 1944, and by 1962 it had produced 5 billion barrels of crude oil. Saudi Arabia assumed full ownership of Aramco in 1980. The company was formally renamed Saudi Arabian Oil Company, or Saudi Aramco, in 1988. Under the leadership of Ali I. Al-Naimi, its first Saudi president and later the nation’s oil minister, Aramco began expanding its global footprint, acquiring refining and marketing assets across Asia and Europe. Its first major international acquisition came in 1991 with a 35 percent stake in South Korea’s SsangYong Oil Refining Company, later renamed S-Oil. That was followed by interests in the Philippines’ Petron Corporation and Greece’s Motor Oil (Hellas). In 2024, Aramco reported net income of $106.2 billion, down from $121.3 billion in 2023, reflecting a 12.4 percent decline. The company cited production cuts of 500,000 barrels per day that began in April 2023, part of broader measures by the Organization of the Petroleum Exporting Countries (OPEC) to manage global supply. Revenue fell modestly to $434.6 billion, while operating profit dropped 10.8 percent to $206.5 billion. Despite the earnings dip, Aramco has underscored its commitment to emissions reduction and sustainability. "We are leveraging the Kingdom's advantage in solar and wind resources and geology to capture any and all value additive opportunities,” said Aramco CEO Amin H. Nasser. “Renewables are a key component of our decarbonization levers.” The company has also aligned its strategy with Saudi Arabia’s Vision 2030, an ambitious plan to reduce the kingdom’s dependence on oil and diversify its economy. As part of that effort, Aramco recently signed a non-binding agreement with Ma’aden, the region’s largest mining firm, to begin lithium production by 2027 — a key step toward building a local electric vehicle supply chain. Aramco has also taken a stake in MidOcean Energy, a move intended to build its capabilities in liquefied natural gas. The company is reportedly investing around 10 percent of its total capital expenditure into a dedicated green energy division known as the New Energies Organization, focused on lower-carbon solutions. In South Korea, Aramco is advancing the Shaheen project, a major petrochemical venture under S-Oil that is expected to come online in late 2026. With a price tag of $6.64 billion, Shaheen aims to produce high volumes of ethylene, propylene, butadiene, and benzene — chemicals essential to modern manufacturing — while prioritizing energy efficiency and emissions reductions. The project is viewed as a potential catalyst for South Korea’s declining petrochemical sector, and is expected to secure long-term supply agreements with the Onsan National Industrial Complex in Ulsan. As Aramco transforms itself from a petroleum powerhouse into a more diversified energy and chemicals firm, its decisions are likely to reverberate across the global energy landscape. For both Saudi Arabia and its international partners, such as China and South Korea, the company’s new trajectory may prove critical in shaping the future of energy security and sustainability. 2025-05-08 10:27:48

Kim Moon-soo and Han Duck-soo fail to reach agreement in unification talks SEOUL, May 07 (AJP) - Conservative presidential candidate Kim Moon-soo of the People Power Party and independent candidate Han Duck-soo held a meeting on Wednesday to discuss a possible unification of their candidacies, but the talks ended without any agreement. The two candidates met privately for about an hour and 15 minutes at a restaurant in Seoul’s Jongno District around 6 p.m., without aides or representatives present. Following the meeting, Han’s spokesperson Lee Jung-hyun told reporters, “There was no specific agreement reached.” Kim also confirmed to the press that “there was no meaningful progress.” The failed attempt highlights lingering differences between the two camps just days ahead of the official registration period for presidential candidates. 2025-05-07 20:36:24

Six cities call on central government to cover losses from free subway rides SEOUL, May 07 (AJP) - Subway operators from six major South Korean cities, including Seoul, the southern port city of Busan, and the western port city of Incheon, are once again calling on the government to cover mounting losses from free rides provided to elderly passengers and other eligible groups. On Wednesday, Seoul Metro and five other urban rail operators issued a joint statement urging national funding to support what they describe as a public service obligation mandated by law. The proposal, signed by representatives from Seoul, Busan, Daegu, Incheon, Gwangju, and Daejeon, was submitted to the National Assembly’s Land, Infrastructure and Transport Committee Chairman Maeng Sung-kyu and related ministries. Since 1984, South Korea has offered free subway rides to seniors aged 65 and older, people with disabilities, and recipients of national merit. While this program has been considered a core element of the country’s transportation welfare system, the financial burden has largely fallen on local operators with no direct compensation from the government. According to the six operators, free ride losses have averaged 558.8 billion won ($401 million) per year over the past five years. Last year, for the first time, the combined annual loss exceeded 700 billion won. Seoul Metro alone reported a deficit of 413.5 billion won, accounting for more than half the total. These losses are expected to grow as the population continues to age. Seoul Metro said its annual free ride losses have been rising by around 10 percent each year, and estimates that by 2040, they could surpass 500 billion won annually. The subway operators also pointed to what they see as an unfair disparity with Korail, the national railway operator. Korail receives government subsidies for free ride losses, but the same support does not apply to city-run subway systems. The government has maintained that urban subway deficits are a local matter and can be addressed by raising fares. Despite several attempts to revise relevant laws, including the Urban Railroad Act, the Welfare of Senior Citizens Act, and the Welfare of Disabled Persons Act, no progress has been made. Union and management representatives at the meeting voiced frustration, saying the government is both the creator and beneficiary of the free ride system and must therefore take responsibility for the financial burden. “If we are serious about maintaining this national policy and ensuring mobility rights for the elderly and vulnerable, then government support is essential,” they said. Baek Ho, president of Seoul Metro, called the joint statement reflects the urgent situation facing subway operators nationwide. “This is just the beginning,” he said. “We need to push for real legislative and policy changes to deal with the growing financial crisis in our public transit systems.” 2025-05-07 17:58:28

Court postpones DP presidential candidate's retrial until after presidential election SEOUL, May 7 (AJP) - The Seoul High Court on Wednesday decided to postpone the first hearing of presidential candidate Lee Jae-myung's retrial over his alleged violation of election laws. The hearing, originally scheduled for later this week, has now been pushed back to June 18, about two weeks after the snap presidential election set for early June, to fill a power vacuum caused by the impeachment of disgraced former President Yoon Suk Yeol early last month over his botched martial law debacle last year. The decision comes after a request earlier in the day from Lee's lawyer to postpone the trial, along with several other trials in which he is involved. The court explained the rescheduling was made to "ensure equal opportunities for campaigning to all candidates" ahead of the June 3 election and to "avoid any controversy over the fairness of the trial." The case stems from comments made by Lee during a TV debate and a parliamentary audit in 2021, when he was running for president. In the first trial in November last year, Lee was found guilty of making false statements related to a major scandal involving a land development project in Seongnam, Gyeonggi Province during his tenure as the city's mayor from 2010 to 2018. However, about four months later, a high court overturned the lower court's sentence of a suspended prison term. Last week, the case took another twist, as the Supreme Court, in an unusual move, expedited the case and referred it back to the appeals court on the grounds of a guilty verdict, in a televised ruling. However, the appellate court gave in by deciding to defer the case, as the main opposition Democratic Party (DP) threatened to impeach the top court's Chief Justice Cho Hee-dae and other justices, citing procedural issues in the handling of the case and claiming it as an interference in the presidential election. Nevertheless, the postponement of the trial is unlikely to bring this contentious saga to a close, as the DP, keeping all possibilities open, has already drafted a slew of bills aimed at shielding its presidential candidate from legal risks, a move that may face fierce resistance. Moreover, if Lee wins the election and is later found guilty, that could spark fresh debates over the legitimacy of his presidency. 2025-05-07 16:58:07

India wraps up first WAVES summit, spotlighting its creative economy ambitions SEOUL, May 07 (AJP) - India’s first World Audio Visual and Entertainment Summit (WAVES 2025) closed on May 4 in Mumbai, marking a significant moment in the country’s bid to position itself as a global creative powerhouse. Spanning four days at the Jio World Convention Centre, the event brought together key players from across the media and entertainment spectrum -- from industry veterans and tech innovators to policymakers, investors, and emerging creators. With packed halls, dynamic panels, and a broad range of topics from film and digital content to gaming and fashion, the summit drew wide attention. The event opened with Prime Minister Narendra Modi delivering the inaugural address. "WAVES is not just an acronym," he said. "It is a wave of culture, creativity, and universal connectivity." Modi urged Indian creators to share their “one billion untold stories” with the world and invited global investors to back not only platforms but also people. Declaring the start of India’s Orange Economy, he called on the youth to lead this creative movement. Throughout the summit, more than 140 sessions unfolded across multiple venues, featuring over 100 speakers, including Ted Sarandos, Neal Mohan, Mukesh Ambani, Nita Ambani, and Shantanu Narayen. Attendees also took part in 40 masterclasses and 55 breakout discussions on subjects ranging from artificial intelligence and OTT platforms to comics, animation, and virtual production. Representatives from Meta, Google, Amazon, Netflix, NVIDIA, and others were in attendance. A major business highlight was the WAVES Bazaar, where deals totaling 1,328 crore rupees ($156,965) were inked. Among them was a new content partnership between Prime Video and Korea’s CJ ENM. The Maharashtra government also signed memoranda of understanding (MoUs) worth 8,000 crore rupees aimed at boosting investment in the creative sector. The Global Media Dialogue, another key component of the summit, saw representatives from 77 countries adopt the “WAVES Declaration,” a joint commitment to bridging the digital divide and promoting peace through media. Speaking at the forum, India’s External Affairs Minister S. Jaishankar emphasized the need to balance tradition with innovation and to invest in skill development for the younger generation. Startups were also highlighted. WAVEX, a dedicated accelerator, selected 30 early-stage companies to pitch to a group of investors. Over 100 more exhibited their projects in a dedicated startup pavilion, drawing attention from both angel investors and larger media companies. South Korea played a notable role in the program. Kang Sung Kyu, CEO of the Busan Film Commission, joined as a panelist and discussed the ongoing recovery of traditional filmmaking following the pandemic. He emphasized the importance of transparent financial practices and support for cultural diversity to help the sector regain momentum. 2025-05-07 16:24:32

PHOTOS: Royal ancestral Jongmyo Daeje ritual resumes after six-year pause SEOUL, May 07 (AJP) - On May 4, the royal ancestral rite known as Jongmyo Daeje was held at Jongmyo Shrine in central Seoul. Recognized as the most significant and solemn ritual of its kind, Jongmyo Daeje was conducted for the first time in six years and unfolded in grand fashion beneath clear skies. Built in 1394 by King Taejo, the founder of the Joseon Dynasty, Jongmyo is the official royal shrine where the spirits of past kings and queens are enshrined. Spanning 200,545 square meters, the complex consists of the Main Hall (Jeongjeon), Yeongnyeongjeon, Jeonsacheong, and Hyangdaecheong. More than a sacred space for rites, Jongmyo served as a powerful symbol of the Joseon dynasty’s religious and political identity. Today, 27 former kings are honored there. Jongmyo Daeje is a comprehensive ritual that fuses courtly elegance with traditional dance and music. Its cultural significance earned it a place on UNESCO’s list of Intangible Cultural Heritage in 2001. While the rite was historically performed five times a year—in spring, summer, fall, winter, and at year’s end—it is now held twice annually: on the first Sunday of May and the first Saturday of November. The Main Hall, where the ceremony is held, is accessed via two sets of stone steps. Upon ascending the first stairway and passing through the entrance, visitors are met with a vast ceremonial courtyard that evokes reverence and awe as they face the ancestral spirits of past monarchs. At the heart of the ritual is Jongmyo Jeryeak, a blend of instrumental music, song, and dance performed during the ceremony. Designated as a National Intangible Cultural Heritage in 1964, the performance on this day featured a visually striking ensemble: 64 dancers dressed in red performed the solemn Ilmu, accompanied by 80 court musicians and 320 ceremonial officials, making up a total of 464 participants. 2025-05-07 14:57:50