KOSPI sinks below 4,000 as U.S. tech selloff deepens; KRW nears 1,460 per USD

SEOUL, November 07 (AJP) - Asian stocks tumbled on Friday as a sharp overnight correction in U.S. technology shares reignited concerns about a potential “AI bubble,” sending investors toward safe-haven assets and pushing the Korean won to its weakest level in months. The won briefly touched 1,458.0 per U.S. dollar during intraday trading, pressured by simultaneous foreign selling, lingering uncertainties surrounding U.S. tariff negotiations, and a broad pullback from r

November 7, 2025

Korea's growing multicultural families test social readiness for diversity

SEOUL, November 07 (AJP) - Interracial marriage in South Korea, once largely associated with aging rural bachelors seeking younger spouses from Southeast Asia, has evolved as cross-border unions expand into Europe and North America — underscoring the need for a more systematic framework for addressing depopulation and building an inclusive society. Government data show that one out of every 20 babies born in Korea last year was part of a multicultural family, and both m

November 7, 2025

South Korea to launch special benefit program to nurture scientists and AI experts

SEOUL, November 7 (AJP) - The government will foster scientists and related professionals by offering a range of benefits to support their research and other studies, the Ministry of Science and ICT said on Friday. The ministry plans to finalize concrete plans for such a program with an aim to launch it by the second half of next year. Under the program, about 20 scientists will be selected annually over the next five years to receive research grants, stipends, and various other b

November 7, 2025

HOT STOCK: Innotech rockets to the ceiling on KOSDAQ debut on chip-related hype

SEOUL, November 07 (AJP) - Innotech, a South Korean maker of environmental test equipment, quadrupled on its KOSDAQ debut Friday, underscoring the frenzied appetite for anything tied to chipmaking. The shares opened at 50,300 won — 242 percent above the initial public offering (IPO) price of 14,700 won — and immediately hit the daily permissible ceiling of 58,800 won ($40). The stock stayed locked at the upper limit throughout the session despite a sweeping rout that dra

November 7, 2025

PHOTOS: Fall festivals for international students

SEOUL, November 07 (AJP) - South Korean universities are rolling out diverse cultural events this fall to integrate a growing international student body, which surpassed 200,000 in 2024. As the number of foreign students continues to rise, universities across the country are hosting festivals aimed at fostering cultural exchange and community. In Suwon, Gyeonggi Province, Ajou University hosted its annual "Ajou International Day," showcasing the diverse cultures of its s

November 7, 2025

South Korea's top enterprise software company sold to Swedish PEF

SEOUL, November 07 (AJP) - Douzone Bizon, South Korea’s leading enterprise software provider, has been acquired by Swedish private equity firm EQT Partners for 1.3 trillion won, or about $940 million. The company said Friday that founder Kim Yong-woo, who held a 22.3 percent stake, and Shinhan Financial Group, with 34.8 percent, sold their shares to EQT’s special-purpose vehicle, Doronicum. The Swedish firm will control 37.6 percent of voting rights, becoming the new

November 7, 2025

Azerbaijani ambassador calls for lasting peace at Victory Day reception in Seoul

SEOUL, November 07 (AJP) - The Embassy of the Republic of Azerbaijan in Seoul hosted a Victory Day reception on Thursday to commemorate the country's 2020 Patriotic War. The event, held at the Grand Hyatt Seoul, brought together around 100 guests, including foreign diplomats, South Korean government officials, business representatives, scholars, and members of the media. Azerbaijani Ambassador to South Korea Ramin Hasanov said the day marked the end of long-standing injustice

November 7, 2025

At least three dead after collapse at retired power plant in Ulsan

SEOUL, November 7 (AJP) - Search operations are underway at a thermal power plant in southeastern city of Ulsan on Friday, after a large structure collapsed during demolition work the previous day. Two workers were rescued shortly after the incident at the state-run utility company Korea East-West Power, while two others were found earlier in the day but pronounced dead. One victim who was found trapped under debris also died, bringing the death toll to three. They were amon

November 7, 2025

Korean robotics sector battles Chinese and Japanese competition as it bets on AI-driven revival

SEOUL, November 07 (AJP) - South Korea's industrial robotics sector is struggling to find a breakthrough as it rapidly loses home ground to Chinese and Japanese rivals and faces the risk of new tariff barriers in the United States. Responding to appeals from domestic manufacturers, the Ministry of Economy and Finance on Thursday announced provisional anti-dumping tariffs of 21.17 percent to 43.6 percent on multi-jointed industrial robots with four or more axes from China and Jap

November 7, 2025

Behind the buzz over K-Pop Demon Hunters, K-contents score meagerly this year

SEOUL, November 07 (AJP) - Korean contents have enjoyed spectacular global exposure this year through major streaming platforms, but without the halo of K-Pop Demon Hunters — the rare breakout that dominated global charts — the industry can hardly claim meaningful wins amid a dearth of blockbuster titles, mounting production costs, and waning originality. The third-quarter results of CJ ENM, Korea’s largest entertainment and media group, offer a glimpse into this

November 7, 2025