Filmmaker behind hit coup flick speaks out over martial law attempt

SEOUL, December 18 (AJP) - Filmmaker Kim Sung-su, who directed last year's critically acclaimed film "12.12: The Day," has openly criticized President Yoon Suk Yeol over his abrupt declaration of martial law earlier this month, calling him "deranged." The historical film, set against the backdrop of a military coup in South Korea in the late 1970s, depicts disgraced former president Chun Doo-hwan, who seized power in December 1979 following the assassination

December 18, 2024

Leaders of two main parties meet to discuss bipartisan cooperation amid political turmoil

SEOUL, December 18 (AJP) - Leaders from the ruling People Power Party (PPP) and the main opposition Democratic Party (DP) met for talks in Seoul on Wednesday, several days after the National Assembly passed a motion to impeach President Yoon Suk Yeol last Saturday. The meeting between the PPP's floor leader Kweon Seong-dong and the DP's leader Lee Jae-myung also came after Lee's proposal last week to create a bipartisan consultative body to address the current political

December 18, 2024

Corporate mergers in South Korea plunge 40 percent in 2024

SEOUL, December 18 (AJP) - South Korea's corporate mergers and acquisitions (M&A) activity plummeted by 39.3 percent in 2024, totaling 8.58 trillion won ($6.6 billion), according to an analysis by CEO Score of 361 major companies. The number of deals also declined significantly, falling to 50 from 87 in the previous year. Among the transactions, Korean Air’s high-profile acquisition of Asiana Airlines for 1.8 trillion won ($1.38 billion), including 300 billion won i

December 18, 2024

Military intelligence chief arrested on rebellion charges

SEOUL, December 18 (AJP) - The Corruption Investigation Office for High-Ranking Officials (CIO), an independent agency established to root out corruption in government, has arrested Moon Sang-ho, the chief of the Defense Intelligence Command (DIC) on charges of rebellion and other offenses. The CIO said that it apprehended Moon at around 12:20 p.m. on Wednesday with the assistance of the National Police Agency, after obtaining an arrest warrant for him the previous day. Moon is a

December 18, 2024

Celltrion launches CDMO unit to preempt global market

SEOUL, December 18 (AJP) - South Korean biopharmaceutical firm Celltrion announced the establishment of a new contract development and manufacturing organization (CDMO) subsidiary, Celltrion Biosolutions Co., on Tuesday. The wholly-owned subsidiary will be led by Senior Vice President Lee Hyuk-jae, a veteran of the company with a track record in product approvals, clinical trials, and manufacturing operations. Celltrion plans to invest an initial 1.5 trillion won (roughly $1.04 b

December 18, 2024

IU named as No. 1 South Korean artist by Billboard

SEOUL, December 18 (AJP) - Singer and actress IU has been named South Korea's best artist of the year by Billboard. The 31-year-old was selected on Tuesday as the country's No. 1 artist as part of the American music magazine's inaugural "Global No. 1s Series," which highlights leading artists from around the world. Billboard praised IU for her versatility. "From making music to acting on screen, IU can seemingly do it all — and she commands unpara

December 18, 2024

Kim Jong-un visits mausoleum on father's death anniversary

SEOUL, December 18 (AJP) - North Korean leader Kim Jong-un visited a mausoleum for his late father to mark the 13th anniversary of his death, according to state media. "A floral basket..... was laid before the statues" of Kim Jong-il and his father and regime founder Kim Il-sung at the Kumsusan Palace of the Sun in Pyongyang, the country's state-run Korea Central News Agency (KCNA) reported on Wednesday. Kim was accompanied by top party officials including his siste

December 18, 2024

Business groups urge review of parliamentary testimony law

SEOUL, December 18 (AJP) - Six major South Korean business organizations on Monday urged a review of a new law requiring companies to submit documents and testify before parliament, arguing that it could expose sensitive corporate information and harm the nation's competitiveness. The Parliamentary Testimony Act, passed by the National Assembly last month, mandates that companies comply with such requests, regardless of concerns about trade secrets. It also requires executives

December 18, 2024

India participates in international startup festival in Seoul

SEOUL, December 18 (AJP) - A high-level Indian delegation participated in COMEUP 2024, an international startup festival held at COEX in southern Seoul on December 11 and 12. The event, designed to support global startups, offered networking opportunities, business matchmaking, and investment prospects. The Indian delegation, led by Shrimati Aarti Bhatnagar, Additional Secretary and Financial Adviser (AS&FA, Deputy Minister) of the Department for Promotion of Industry and Inte

December 18, 2024

Netflix's hit dating show to return with fourth season next month

SEOUL, December 18 (AJP) - Netflix's reality show "Single's Inferno" is set to usher in the new year with its fourth season next month, the American streaming giant said on Tuesday. Set for release on Jan. 14, the hit dating show has become the first South Korean Netflix series to be picked up for a fourth season. The dating show features single men and women stranded on a remote island as they navigate relationships. Contestants choose someone they are interest

December 18, 2024