Naver posts mixed earnings results for 1st quarter

SEOUL, May 9 (AJP) - Naver posted robust first-quarter sales while its net profit fell, according to figures released by the South Korea's largest portal on Friday. Sales for the first three months of this year reached 2.79 trillion won (US$1.99 billion), up 10.3 percent from the same period last year, backed by steady growth across its diverse business sectors despite intensifying competition and challenges in emerging technologies including artificial intelligence (AI). Ope

May 9, 2025

Rising demand for data centers reshapes global real estate market, research reveals

SEOUL, May 9 (AJP) - A surge in global demand for data centers is significantly influencing the dynamics of the real estate market around the world, according to a recent analysis by Cushman & Wakefield. The global commercial real estate services firm compared data centers worldwide and found that development pipelines have reached historic levels this year, with North and South America driving market growth. Virginia stands at the forefront with ongoing development exceeding

May 9, 2025

Excitement builds early for New Pope's planned visit to Seoul

SEOUL, May 9 (AJP) - With a new pope elected to lead the Roman Catholic Church at the Vatican on Thursday, religious leaders and other faithful here are expressing high expectations. Although they may have to wait a few more years to see the new pope in person, excitement is already building ahead of his planned visit to Seoul in 2027. White smoke billowed from the chimney of the Sistine Chapel on the second day of the Vatican's conclave, attended by nearly 130 cardinals, as the

May 9, 2025

Riding tailwind of LNG Carriers, South Korea sets sights on lucrative next-generation liquid hydrogen carriers

SEOUL, May 9 (AJP) - Riding tailwind of LNG carrier sales, South Korea eyes lucrative next-generation liquid hydrogen carriers Amid heated competition with China for market dominance in global shipbuilding, South Korea is intensifying concerted efforts to develop liquid hydrogen carriers as the next lucrative frontier for the industry. The Ministry of Trade, Industry and Energy said on Friday that it has formed a task force for the development of liquid hydrogen carriers. Liqu

May 9, 2025

Kim and Han clash over timing, legitimacy in second unification talks

SEOUL, May 08 (AJP) - Presidential candidates Kim Moon-soo and Han Duck-soo met for a second round of unification talks on Thursday, but the discussion once again revealed sharp differences over the timing and terms of a potential single candidacy. The meeting, held at the National Assembly’s Sarangjae at 4:30 p.m., was fully open to the press by prior agreement between both camps. Han, an independent candidate and former prime minister, pushed for immediate resolution, s

May 8, 2025

Lotte Cinema, Megabox agree to merge, challenging CGV

SEOUL, May 8 (AJP) - South Korea’s second- and third-largest cinema operators, Lotte Cinema and Megabox JoongAng, have agreed to merge, forming a formidable new entity poised to reshape the nation’s film exhibition landscape. JoongAng Holdings, the parent company of Megabox, announced on Thursday that it had signed a memorandum of understanding (MOU) with Lotte Group to combine their film-related subsidiaries: Megabox JoongAng and Lotte Cultureworks, which oversees Lotte

May 8, 2025

INTERVIEW : Korean Cultural Center in Abu Dhabi to celebrate 10 years of building bridges with UAE

SEOUL, May 8 (AJP) - Nestled at the eastern end of the Arabian Peninsula, the United Arab Emirates (UAE) is a country where Islamic culture coexists with modern architecture and cutting-edge global trends. Surrounded by an exotic landscape where deserts meet futuristic skylines, the Korean Cultural Center in Abu Dhabi serves as a cultural bridge between the two countries. Established in 2016, it was the first of its kind in the Middle East, venturing into this uncharted, un

May 8, 2025

Korea to launch QR-based cross-border payment system, starting with Indonesia

SEOUL, May 08 (AJP) - The Korea Financial Telecommunications and Clearings Institute (KFTC) will establish a digital hub for cross-border retail payments using QR codes, with a pilot launch slated for Indonesia by year’s end. Speaking at the annual meeting of the Asian Development Bank in Milan, KFTC President Park Jong-seok said the new system is designed to facilitate mobile-based transactions across borders, allowing consumers to make payments or withdraw local currency a

May 8, 2025

Korea, Czech deepen nuclear, tech ties despite court ruling delaying major deal

SEOUL, May 8 (AJP) - South Korea and the Czech Republic have signed a suite of bilateral agreements aimed at strengthening cooperation in nuclear energy and advanced technology sectors, even as a key contract for the construction of nuclear reactors was postponed by a Czech court ruling. In a two-day diplomatic visit led by South Korean Minister of Trade, Industry and Energy Ahn Duk-geun, the two countries signed 14 MOUs and cooperation agreements, underscoring a shared commitment

May 8, 2025

Clock ticking for PPP as internal rift stalls progress on unified conservative candidate

SEOUL, May 8 (AJP) - Tensions are escalating within the ruling People Power Party (PPP) as internal wrangling continues over fielding a unified conservative candidate, with the snap presidential election less than a month away. The PPP’s presidential nominee, Kim Moon-soo, had expressed a willingness to team up with former Prime Minister Han Duck-soo, who declared his presidential bid last week. However, Kim now appears to have changed his mind shortly after being chosen as th

May 8, 2025