South Korea unveils record 728 trillion won budget with big bets on AI, R&D

SEOUL, August 29 (AJP) - South Korea’s government on Friday signed off on a record 728 trillion won ($524.3 billion) budget for 2026, an 8.1 percent increase over this year and the first major fiscal blueprint of President Lee Jae Myung’s administration. The spending plan marks a sharp break from the austerity policies of Lee’s predecessor, Yoon Suk Yeol, who kept budget growth near 2 to 3 percent. Instead, the new administration is seeking to jolt Asia’s fou

August 29, 2025

South Korea's SNT Group to establish US production base in Louisiana

SEOUL, August 29 (AJP) - South Korea's SNT Group said Friday that it had purchased an 82-acre site in Louisiana for a new manufacturing complex. The facility, covering roughly 330,000 square meters, will be developed in phases and is intended to serve as SNT’s integrated North American production base. The project will be led by SNT Motiv, the group’s automotive components arm, and will also involve SNT Energy, its energy equipment unit. Louisiana was chosen for

August 29, 2025

Seoul aide says Kim Jong-un may briefly greet Speaker Woo at Beijing parade

SEOUL, August 29 (AJP) - North Korean leader Kim Jong-un is expected to acknowledge South Korea's National Assembly Speaker Woo Won-shik when the two attend a military parade in Beijing next week, a senior South Korean presidential aide said Thursday. Woo Sang-ho, senior secretary to President Lee Jae-myung, told reporters that Kim would not "snub" Speaker Woo if they come across each other during China's "Victory Day" celebrations on September 3, marki

August 29, 2025

[K-pop] New boy band AxMxP set for September debut

SEOUL, August 29 (AJP) - AxMxP, a four-member boy band, will make their debut in September. The group's agency FNC Entertainment said they will release their first album, "AxMxP," on Sept. 10 and hold a debut showcase in Seoul the same day. The band's name reflects their aim of "amplifying music power" and spreading their voices to the world, inspired by the sound equipment amp. On Thursday, an introductory video was unveiled showing electr

August 29, 2025

US Senator emphasizes balance between nuclear deterrence and USFK flexibility

SEOUL, August 29 (AJP) -A United States senator said Thursday that Washington can uphold its nuclear deterrence commitment to South Korea while keeping U.S. Forces Korea (USFK) flexible enough to respond to wider challenges in the Indo-Pacific. Senator Andy Kim, a Democrat representing New Jersey, made the comments at a Capitol press conference as the U.S. considers expanding the operational scope of the 28,500 USFK troops under the concept of "strategic flexibility." Th

August 29, 2025

Rights advocates criticize South Korea's decision to withhold North Korea report

SEOUL, August 29 (AJP) - When South Korea's Ministry of Unification said it would go ahead and compile, but not publicly release its annual report on human rights in North Korea, reversing the previous administration's policy, the move drew criticism from rights advocates and policy experts. "Refusing to make information public is generally not a desirable decision in a democracy," said Robert King, former U.S. special envoy for North Korean human rights. "A

August 29, 2025

Samsung gains ground in Japan's iPhone-dominated market

SEOUL, August 29 (AJP) - Samsung, after years of lagging behind, is starting to carve out a bigger foothold in Japan, where Apple has long towered over the smartphone market. Samsung's Galaxy S25 series — introduced earlier this year with a slate of artificial intelligence features — has helped lift its fortunes in Japan. Samsung’s shipments surged 60 percent in the second quarter from a year earlier, according to new data from Counterpoint Research releas

August 29, 2025

Business sentiment in South Korea remains pessimistic for 42nd month

SEOUL, August 29 (AJP) - South Korea’s corporate outlook sank further into pessimism for the 42nd straight month, weighed down by U.S. trade measures that have struck at the heart of its semiconductor and steel industries, the nation’s largest business group said Friday. A survey of the country’s 600 biggest companies by the Federation of Korean Industries showed the Business Survey Index for September at 93.2, below the 100 threshold that separates optimism from p

August 29, 2025

Ulsan breaks ground on AI data center with SK Telecom, Amazon

SEOUL, August 29 (AJP) - The industrial city of Ulsan is positioning itself as a national hub for artificial intelligence, breaking ground Friday on a large-scale AI data center in partnership with SK Telecom and Amazon Web Services. The ceremony, held at the Mipo National Industrial Complex, was attended by Ulsan Mayor Kim Doo-gyeom, SK Telecom’s chief executive, Yoo Young-sang, officials from SK and AWS, lawmakers, and representatives from academia and local industries.

August 29, 2025

South Korea becomes anchor in US plan to revive shipbuilding industry

SEOUL, August 28 (AJP) - What began as a series of bruising trade talks between Washington and Seoul ended in an unexpected sector: shipbuilding. The negotiations, initially centered on tariffs, culminated in a $150 billion partnership aimed at reviving America’s depleted maritime industry with South Korean know-how. On Aug. 25, President Donald Trump hosted President Lee Jae Myung of South Korea at the White House, just a month after the latest round of negotiations. At their

August 29, 2025