Russian Embassy in Pyongyang hosts banquet to celebrate ratification of military pact

SEOUL, December 11 (AJP) - The Russian Embassy in North Korea hosted a banquet on Tuesday to celebrate the ratification of a military defense pact between the two countries, North Korean state media reported Wednesday. The official state-run Korean Central News Agency (KCNA) said its leader Kim Jong-un's sister Yo-jong, Foreign Minister Choe Son-hui, and other top officials including Choe Ryong-hae, chairman of the rubberstamp Supreme People's Assembly, attended the event.

December 11, 2024

Joint team formed to probe martial law debacle

SEOUL, December 11 (AJP) - A team of investigators from three different agencies is set to launch a joint probe into President Yoon Suk Yeol's abrupt declaration of martial law last week. Consisting of investigators from the Ministry of Defense, the National Police Agency, and the Corruption Investigation Office for High-Ranking Officials (CIO), an independent agency established to root out corruption in government, the team formed on Wednesday aims to minimize inefficiency and

December 11, 2024

Police attempt raid on presidential office, face standoff

SEOUL, December 11 (AJP) - Police on Wednesday tried to raid the presidential office in Yongsan, Seoul, about a week after President Yoon Suk Yeol abruptly declared martial law last week. Some 18 investigators arrived at the presidential compound at around 11:50 a.m. with a search warrant to seize documents and other records which could provide a clue about Yoon's short-lived martial law debacle last Tuesday. But they were prevented from entering by security staff, who, citin

December 11, 2024

PHOTOS: Rightist groups hold rally in support of President Yoon Suk Yeol

SEOUL, December 11 (AJP) - Rightist groups including the Liberty Unification Party held a rally near Gwanghwamun Station in central Seoul on Wednesday, Dec. 11, 2024, to oppose impeachment of President Yoon Suk Yeol. They alleged Yoon declared martial law on Dec. 3 to save country from Lee Jae-myung, leader of the main-opposition Democratic Party.

December 11, 2024

PHOTOS: AI-generated films starring actress Na Moon-hee will hit theaters

SEOUL, December 11 (AJP) - A collection of five short films starring veteran actress Na Moon-hee, generated entirely through artificial intelligence (AI) technology, is set to premiere on Dec. 24. These films are the winning entries of a contest that invited filmmakers to create short stories using Na's likeness and voice.

December 11, 2024

OPINION: The west is already at war with Russia. And large-scale conflict may not be far off

SEOUL, December 11 (AJP) - Russia is already at war with the west. It has been so since its occupation of Crimea in 2014, when Russia sought to secure its access to Sevastopol as a base for its Black Sea Fleet and as a potential lever of influence over Kyiv's political direction. Even in 2014 – at the annual Valdai security conference – Vladimir Putin was referencing an escalation towards conflict with the west. He later described the west as having "crossed a l

December 11, 2024

Doosan Group halts restructuring plan amid market volatility

SEOUL, December 11 (AJP) - Doosan Group has halted its ambitious corporate restructuring plan, citing recent market volatility that has sent its stock prices plummeting. The conglomerate had intended to split Doosan Bobcat from Doosan Enerbility and fold it into a subsidiary of Doosan Robotics. The proposed reorganization aimed to streamline the group's portfolio into three main sectors: clean energy (Doosan Enerbility, Doosan Fuel Cell), smart machines (Doosan Robotics, Doosa

December 11, 2024

North Korea breaks silence on South Korea's martial law crisis

SEOUL, December 11 (AJP) - North Korea on Wednesday reported South Korea's political turmoil for the first time, after keeping mum for over a week since President Yoon Suk Yeol abruptly declared martial law last week. Calling it a "shocking incident," Pyongyang's state-run Korean Central News Agency (KCNA) said, "The puppet Yoon Suk Yeol, who had already faced a serious crisis of governance and impeachment, declared martial law unexpectedly and unleashed the g

December 11, 2024

East Sea gas exploration project may drift due to lack of budget

SEOUL, December 11 (AJP) - South Korea's controversial East Sea gas exploration project, known as the "Blue Whale," is facing a significant setback after the opposition-controlled National Assembly slashed its entire 49.7 billion won (US$34.7 million) budget for next year. The move comes amid heightened political tensions following President Yoon Suk Yeol's declaration of martial law on Dec. 3. The main opposition Democratic Party, which currently controls the N

December 11, 2024

Korean top firms lag behind global peers in market value, profits

SEOUL, December 11 (AJP) - South Korea's top 10 companies by market capitalization have experienced a significant decline in value, losing 12.7 percent to 735.4 trillion won ($564 billion) since 2020. This stands in stark contrast to their counterparts in the United States, Japan, and Taiwan, which have seen gains ranging from 53 to 107 percent during the same period, according to CEO Score research institute. The performance of South Korean companies has been particularly dis

December 11, 2024