South Korea's SK Earthon acquires 34% stake in Indonesian offshore block

SEOUL, November 24 (AJP) - SK Earthon, a subsidiary of SK Innovation, has acquired a 34 percent stake in Indonesia’s North Ketapang offshore block as part of a broader push to expand its resource development portfolio in Southeast Asia. The company said Monday it purchased the stake from Petronas North Ketapang Ltd., without revealing the price. Under the new partnership structure, Petronas North Ketapang retains a 51 percent stake, while PT Pertamina Hulu Energi North

November 24, 2025

KAIST study finds red OLED light can reduce Alzheimer's protein and improve memory

SEOUL, November 24 (AJP) - The Korea Advanced Institute of Science and Technology (KAIST) said on November 24 that its researchers have confirmed that a specific color of OLED light can reduce a key Alzheimer’s disease protein and improve memory in animal models, suggesting a possible new direction for non-drug treatment. The work was carried out with the Korea Brain Research Institute. The team tested three OLED colors, blue, green, and red, using a platform that keeps brig

November 24, 2025

Asian shares make mild rebound early Mon after last week's AI tantrums

SEOUL, November 24 (AJP) - Asian markets showed a mild recovery from last week's AI bubble tantrums with key indices pointing to north in early Monday session. South Korea’s benchmark KOSPI was trading 1 percent higher at 3,890 as of 10:30 a.m., recovering part of Friday's near 4-percent dive. Further rises were constrained by expectations of the Bank of Korea signaling extended pause in easing at its final Monetary Policy Board meeting of the year amid jump in the d

November 24, 2025

Lee heads to Turkey for final leg of overseas trip

SEOUL, November 24 (AJP) - President Lee Jae Myung on Sunday headed to Turkey, the final stop of his 10-day overseas trip after wrapping up his attendance at the Group of 20 (G20) summit in South Africa. While attending a series of sessions at the G20 in Johannesburg over the weekend after visiting the United Arab Emirates (UAE) and Egypt earlier in the week, Lee proposed easing debt burdens for developing countries and normalizing multilateral trade systems. He also emphasized inte

November 24, 2025

Victims of Belgian real estate fund mis-selling at brokerages will get compensation

SEOUL, November 24 (AJP) - Korea Investment & Securities will compensate investors in more than 450 cases linked to the mis-selling of a Belgian real estate fund, industry sources said Monday. The brokerage concluded that 458 of 883 complaints constituted mis-selling, equivalent to 24.1 percent of the 1,897 total fund sales. The fund, launched in June 2019, was designed to invest in office leases for Belgian government agencies and generate profits after a five-year holdi

November 24, 2025

Record number of 30-somethings in Seoul unable to afford their own homes

SEOUL, November 24 (AJP) - A triple whammy of soaring home prices, an increase in single-person households, and tighter loan regulations has pushed the number of households in their 30s without their own homes in Seoul to a record high. According to the Ministry of Data and Statistics, the figure rose by 17,215 from the previous year to 527,729, the highest since relevant statistics began in 2015. After a slight dip from 475,606 in 2015 to 456,461 in 2018, the number of househo

November 24, 2025

Turbine shuts down again at Shin Hanul nuclear reactor, causing safety concern

SEOUL, November 24 (AJP) - Korea Hydro & Nuclear Power (KHNP) said on Monday that the turbine generator at Shin Hanul Unit 1, a 1.4 million-kilowatt reactor, shut down automatically while the plant was ramping up output. At around 6:11 p.m., Sunday, the company reported that an “exciter” device had failed, cutting off the supply of current to the generator’s electromagnet — a component crucial for power generation. The exciter shutdown forced the turb

November 24, 2025

Homegrown space rocket ready for nighttime launch this week

SEOUL, November 24 (AJP) - South Korea's homegrown space rocket Nuri is set for liftoff later this week after completing final rehearsals and technical checks, the Korea Aerospace Research Institute (KARI) said on Monday. The rocket, dubbed KSLV-II, is scheduled for launch at the Naro Space Center in Goheung, South Jeolla Province on Thursday. If any unexpected issues arise, additional launch windows are available from Nov. 29 to Dec. 4. The rocket will be moved to the laun

November 24, 2025

K-beauty under pressure as Chinese, Japanese brands gain ground in Korea

SEOUL, November 24 (AJP) - Chinese e-commerce platforms and beauty brands are rapidly expanding their presence in South Korea, intensifying competition in markets long dominated by domestic players. Platforms such as TEMU and AliExpress are leaning heavily on social media influencers to reach South Korean consumers, while Chinese cosmetics companies are capitalizing on TikTok-driven trends to grow both at home and abroad. TEMU recently hired an influencer marketing manager in

November 24, 2025

Samsung Fire & Marine launches English, Chinese support for insurance claims

SEOUL, November 24 (AJP) - Samsung Fire & Marine Insurance has introduced new English and Chinese-language services to help foreign customers file insurance claims, the company said on Monday. The services are now available on the insurer’s mobile app and website. The company said an internal analysis showed that 58.3 percent of its foreign customers used the claims function most frequently, followed by premium payments at 14 percent and certificate issuance at 9.5 per

November 24, 2025