Business leaders pay respects to Jeju Air crash victims

SEOUL, December 31 (AJP) - South Korea's corporate leaders joined the nation in mourning on Tuesday, visiting memorial altars to honor the 179 victims of Sunday's Jeju Air crash, the country’s deadliest aviation disaster in over two decades. Sohn Kyung-shik, chairman of the Korea Enterprises Federation, visited a memorial altar in front of Seoul City Hall, offering condolences to the bereaved families. Yoon Jin-sik, president of the Korea International Trade Associa

December 31, 2024

Sneak peek of Spanish folk opera offered in Seoul

SEOUL, December 31 (AJP) - An event showcasing excerpts from a Spanish folk opera was held in Seoul last week, ahead of its first-ever performance here. Co-hosted by the Embassy of Spain in Seoul and the Korea Opera Coaches Association (KOCA), the event, held at COEX in southern Seoul on Sunday, was part of a fundraising effort for the production of the Spanish folk opera "Zarzuela," as well as to commemorate the 75th anniversary of diplomatic relations between South Korea

December 31, 2024

New Year's celebrations scaled down in mourning for plane crash victims amid political turmoil

SEOUL, December 31 (AJP) - Various events and festivals scheduled for New Year's Eve have been either canceled or scaled down as South Korea observes a mourning period this week, following last Sunday's fatal crash of a Jeju Air flight in Muan, South Jeolla Province. The tragic accident further dampened the festive mood just ahead of ushering in the Year of the Wood Snake, as the country is weathering political turmoil, after a motion to impeach President Yoon Seok Yeol was

December 31, 2024

North Korean leader sends New Year's letter to Putin

SEOUL, December 31 (AJP) - North Korean leader Kim Jong-un sent a New Year's greeting to Russian President Vladimir Putin, state media reported on Tuesday. According to the official state-run Korean Central News Agency (KCNA), Kim extended his "warm greetings of best wishes to the fraternal Russian people and all the service personnel of the brave Russian army," calling Putin his "dearest friend and comrade" in a letter sent the previous day. Pledging to s

December 31, 2024

Korean shipbuilding workforce grows for first time in 8 years

SEOUL, December 31 (AJP) - South Korea’s shipbuilding industry saw its technical workforce grow by 0.8 percent in 2023, breaking an eight-year streak of declines, according to a government report released Tuesday. The Ministry of Trade, Industry and Energy's annual workforce survey reported that the nation's industrial technology workforce totaled approximately 1.72 million in 2023, reflecting a modest 1 percent increase from the previous year. The survey, conducted

December 31, 2024

Global DRAM prices expected to decline further next year

SEOUL, December 31 (AJP) - Global DRAM price declines will be limited to 0-5 percent next quarter when including high-bandwidth memory (HBM) products, market researcher TrendForce reported, citing seasonal weakness and cautious buying strategies ahead of the new U.S. administration. Server DDR5 DRAM prices are projected to fall 3-8 percent in the first quarter of 2025 reversing from a 3-8 percent increase in the fourth quarter. Server DDR4 prices are expected to see an even steepe

December 31, 2024

Regional airports in South Korea struggle with heavy operating losses

SEOUL, December 31 (AJP) - Four of South Korea’s regional airports, including Muan Airport, the site of a recent fatal Jeju Air crash, are operating under capital impairment, underscoring the financial challenges faced by the country’s smaller aviation hubs. Government data from the All Public Information In-One system revealed Tuesday that airports in Muan, Yeosu, Sacheon, and Wonju collectively reported negative capital of 32.9 billion won ($22.3 million) as of the end

December 31, 2024

More youngsters eligible for working holiday program between South Korea and Germany

SEOUL, December 31 (AJP) - Starting next year, more young people will be eligible to participate in a working holiday program between South Korea and Germany. The Ministry of Foreign Affairs said on Monday that the program's age limit for participants will be expanded from 18-30 to 18-34, effective from the first day of the new year. The program, based on the agreement between the two countries in 2009, allows participants to work a certain number of hours while studying or t

December 31, 2024

Arrest warrant issued for Yoon over martial law debacle

SEOUL, December 31 (AJP) - A court on Tuesday issued an arrest warrant for President Yoon Suk Yeol over his aborted martial law debacle earlier this month. This is the first time in the country's history that an arrest warrant has been issued for an incumbent president. The Seoul Western District Court approved the arrest warrant requested by the Corruption Investigation Office for High-ranking Officials (CIO) against him on charges of insurrection and abuse of power as Yoon

December 31, 2024

Ukraine warns of 'North Korean troops reaching NATO borders'

SEOUL, December 30 (AJP) - Ukraine has warned that North Korean troops could appear on the borders of the North Atlantic Treaty Organization (NATO) if Russia is not stopped. In a post shared on his Telegram on Sunday, Andriy Yermak, head of Ukraine's presidential office, wrote that European countries and NATO should brace for potential hybrid threats at their doorsteps. "The appearance of North Korean troops dressed in Russian uniforms or Iranian proxies on the borders o

December 30, 2024