Naver Financial, Dunamu to merge in $13.5 billion deal creating Korea's fintech giant

SEOUL, November 25 (AJP) - Naver Financial, the country's top mobile payment provider, and Dunamu, operator of South Korea's largest cryptocurrency exchange Upbit, will merge in a landmark deal valued at around 20 trillion won ($13.5 billion). The boards of both companies are set to convene on Wednesday to approve the merger, with a joint press conference scheduled for Thursday at Naver's headquarters in Seongnam, south of Seoul. The combined entity would become Korea

November 25, 2025

Kia's EV6 GT outperforms Model Y, Polestar 4 in German magazine's comparison test

SEOUL, November 25 (AJP) - Kia’s high-performance EV6 GT has topped a comparative test by German automotive magazine Auto Motor und Sport, outperforming Tesla’s Model Y and the Polestar 4, the company said Tuesday. The publication, one of Germany’s most influential auto outlets, assessed the three models across seven categories: body, safety, comfort, powertrain, driving performance, environmental performance, and cost. The EV6 GT scored 597 points overall, ahe

November 25, 2025

South Korea's central bank widely expected to freeze rate at Thursday's meeting: Survey

Bank of Korea Governor Lee Chang-yong at the Oct. 23 monetary policy meeting/ Photo by Joint Press Corps SEOUL, November 25 (AJP) - The Bank of Korea is widely expected to keep its benchmark interest rate unchanged at 2.50 percent at its final policy meeting of the year, slated for Thursday, as it prepares to lift growth projections for both 2024 and 2025. The anticipated hold comes amid firmer economic activity and persistent concerns over a weak won, rising home prices and el

November 25, 2025

Seoul, Ankara agree to strengthen cooperation in defense, nuclear energy

SEOUL, November 25 (AJP) - President Lee Jae Myung met with Turkish President Recep Tayyip Erdoğan in Ankara on Monday, where the two leaders agreed to enhance cooperation across various sectors. In a joint press conference after their talks, Lee began his remarks by saying that this year marks the 75th anniversary of Turkey's participation in the Korean War (1950–1953), referring to the country as a "brother nation." He added, "Bilateral relations have st

November 25, 2025

KAIST expands national science outreach programs

SEOUL, November 25 (AJP) - The Korea Advanced Institute of Science and Technology (KAIST) said on November 25 that it is expanding its major public science programs, including the KSOP education initiative, the OPEN KAIST festival, and non-degree IT and AI training programs for young adults and military personnel. The institute said these efforts support national policies to broaden science culture, strengthen future talent pipelines, and reinforce South Korea’s scientific comp

November 25, 2025

Korean consumer confidence most upbeat in eight years

SEOUL, November 25 (AJP) - South Koreans turned markedly more upbeat about the economy in November, buoyed by the stock market’s record-setting rally, the settlement of a tariff deal with the United States, and stronger-than-expected third-quarter growth led by resilient exports. The Consumer Sentiment Index (CCSI) rose 2.6 points from October to 112.4, the highest since 113.9 in November 2017, the Bank of Korea said Tuesday. A reading above 100 signals optimism about cu

November 25, 2025

Rain delays preparations for homegrown space rocket, but liftoff still on track

SEOUL, November 25 (AJP) - Preparations for the launch of South Korea's homegrown Nuri rocket have been delayed due to rain, the Korea Aerospace Research Institute (KARI) said Tuesday. The rocket, dubbed KSLV-II, was scheduled to be transported to the launch pad at around 7:30 a.m, ahead of its planned liftoff later this week at the Naro Space Center in Goheung, South Jeolla Province. As KARI is likely to reschedule the transport later in the day while monitoring weather co

November 25, 2025

OPINION: Nvidia, Bitcoin and emergence of new economic order

Global markets are increasingly dancing to the movements of Nvidia and Bitcoin. A surge in Nvidia’s share price now lifts trading floors from New York to Tokyo, Seoul, London and Frankfurt. When the chipmaker disappoints, the backlash ricochets across continents. Bitcoin produces similar tremors, swinging sharply on news of regulatory shifts or ETF flows. The pattern points to a deeper shift in modern capitalism: economic gravity is clustering around a small

November 25, 2025

Lee Soon-jae, titan of Korean acting, dies at 91

SEOUL, November 25 (AJP) - Lee Soon-jae, one of South Korea’s most distinguished and enduring actors, died early Tuesday at the age of 91, his family confirmed. With a career spanning nearly seven decades, Lee was widely regarded as the country’s oldest active actor until health issues forced him to step back last year. Born in 1934 in Hoeryong in what is now North Korea, Lee moved to Seoul at age four. His early life coincided with Korea’s liberation from Ja

November 25, 2025

K-pop hitmaker Kim Hyung-seok bids to chair Korea Music Copyright Association

SEOUL, November 25 (AJP) - Veteran K-pop composer Kim Hyung-seok (59), the creative force behind some of Korea’s most iconic ballads, has officially announced his candidacy for the 25th chairman election of the Korea Music Copyright Association (KMC). Kim, whose three-decade career shaped the sound of Korean pop through hits for Lee Moon-sae, Jang Hye-jin, Shin Seung-hun, Kim Gun-mo, Jo Sung-mo, Park Jin-young, Kim Kwang-seok, and many more, said he decided to run after re

November 25, 2025