Industry

  • HOT STOCK: Hanwha Ocean surges on LNG boom, defense tech spotlight
    HOT STOCK: Hanwha Ocean surges on LNG boom, defense tech spotlight SEOUL, October 23 (AJP) - Shares of Hanwha Ocean are sailing full speed ahead, buoyed by a swelling orderbook for liquefied natural gas (LNG) carriers and upbeat earnings expectations. The stock traded 3.7 percent higher at 137,100 won ($95) as of 10:15 a.m. Thursday in Seoul, after soaring nearly 10 percent the previous day. Hanwha Ocean has gained more than 20 percent so far this month, reflecting investor optimism over robust third-quarter results and sustained global demand for LNG carriers October 23, 2025
  • Hyunmoo-5 deployment to begin by year-end amid rising North Korean ICBM threat
    Hyunmoo-5 deployment to begin by year-end amid rising North Korean ICBM threat SEOUL, October 17 (AJP) - South Korea will begin deploying its 8-ton "Hyunmoo-5" ballistic missile by the end of this year, as part of its effort to reinforce deterrence against North Korea's advancing nuclear threat. The Defense Ministry confirmed the plan to AJP on Friday, saying the Hyunmoo-5 — dubbed the "monster missile" for its unprecedented payload — has entered the operational fielding phase and is planned for mass production, with deployment set to b October 17, 2025
  • 68 countries to join Seoul Defense Dialogue next week
    68 countries to join Seoul Defense Dialogue next week SEOUL, September 05 (AJP) - The defense ministry will host the 14th Seoul Defense Dialogue (SDD) in central Seoul from Monday to Wednesday, bringing together senior officials from around the world. Launched in 2012, the annual forum is designed to promote peace on the Korean Peninsula and strengthen regional security cooperation. This year, more than 1,000 participants from 68 countries and international organizations are expected to attend, according to the ministry. Defense ministers fro September 5, 2025
  • Washington signals Asian allies to pull their weight on defense ahead of summit with Seoul
    Washington signals Asian allies to 'pull their weight' on defense ahead of summit with Seoul SEOUL, August 16 (AJP) - A senior U.S. defense official on Friday urged Asian allies to increase defense spending and take on greater responsibilities for collective defense, echoing Washington’s push for fairer burden-sharing ahead of a summit with Seoul. Under Secretary of Defense for Policy Elbridge Colby wrote on X, formerly Twitter, on Friday, "It’s common sense that all allies, especially in Asia, need to pull their weight. That’s how we get peace through strength a August 16, 2025
  • Joint exercise with US to be scaled down, with field training postponed
    Joint exercise with US to be scaled down, with field training postponed SEOUL, August 8 (AJP) - South Korea will conduct its annual joint defense exercise with the U.S. later this month, with half of some key field drills postponed until September due to this summer's unprecedented heat wave. The Joint Chiefs of Staff (JCS) here said Thursday that the exercise, dubbed Ulchi Freedom Shield (UFS), will kick off its 10-day run on Aug. 18, involving some 18,000 South Korean troops and a similar number of U.S. personnel. The exercise consists of computer-simulated August 8, 2025
  • Lee expected to meet Trump for first bilateral summit late this month
    Lee expected to meet Trump for first bilateral summit late this month SEOUL, August 8 (AJP) - President Lee Jae-myung is expected to sit down for talks with U.S. President Donald Trump in Washington later this month. According to government sources, Lee is likely to fly to Washington, D.C. on Aug. 24 for his first bilateral summit with Trump at the White House the following day. The upcoming summit will be Lee's first test in bilateral relations, marking his official debut on the international diplomatic stage, although he briefly participated in a multilate August 8, 2025
  • US Senate defense bill aims to preserve troop presence in South Korea
    US Senate defense bill aims to preserve troop presence in South Korea SEOUL, July 18 (AJP) - A newly passed United States Senate defense bill signals congressional intent to maintain current American troop levels in South Korea amid renewed debate over the future of U.S. military commitments abroad. The 2026 National Defense Authorization Act (NDAA), approved last week by the Senate Armed Services Committee, includes language that blocks any reduction in the U.S. military presence on the Korean Peninsula or transfer of wartime operational control without formal ce July 18, 2025
  • US think tank proposes slashing USFK troops in Seoul to 10,000
    US think tank proposes slashing USFK troops in Seoul to 10,000 SEOUL, July 10 (AJP) - A Washington-based think tank has proposed cutting the number of U.S. troops stationed in South Korea by more than half, according to a report released on Wednesday. Stressing the need to "revise the U.S. global military posture to be consistent with protecting vital national interests," the report by Defense Priorities argued that the U.S. should cut its military presence in South Korea "by more than 50 percent, leaving about 10,000 personnel along with tw July 10, 2025
  • Trump claims South Korea pays very little for USFK upkeep
    Trump claims South Korea pays 'very little' for USFK upkeep SEOUL, July 9 (AJP) - U.S. President Donald Trump once again raised the issue Tuesday that South Korea is paying "very little" for the upkeep of maintaining some 28,500 U.S. troops here, arguing that it should pay for its own defense. "We rebuilt South Korea. We stayed there..... and they pay us very little for the military," Trump said during a cabinet meeting at the White House, while falsely claiming that 45,000 U.S. troops are stationed in South Korea. "South Ko July 9, 2025
  • Top security adviser attends NATO summit on behalf of Lee
    Top security adviser attends NATO summit on behalf of Lee SEOUL, June 26 (AJP) - National Security Adviser Wi Sung-lac met with a slew of heads of state and government officials on the sidelines of the NATO summit which kicked off in the Hague, the Netherlands early this week. Wi, who is attending the two-day summit on behalf of South Korean President Lee Jae-myung, held a series of talks with key figures and participants including NATO Secretary-General Mark Rutte and U.S. Secretary of State Mark Rubio. According to the presidential office here on T June 26, 2025