Hyundai Rotem eyes Egypt hydrogen tram project SEOUL, October 08 (AJP) - Hyundai Rotem has signed a memorandum of understanding with Egypt’s National Authority for Tunnels, or NAT, to explore supplying hydrogen-electric trams for Egypt’s new administrative city east of Cairo, the company said Thursday. The agreement was signed Wednesday during a Korea-Egypt business roundtable in Seoul attended by Egyptian Transport Minister Kamel al-Wazir, South Korean Industry Minister Kim Jung-kwan, South Korean Ambassador to Egyp October 8, 2026

Jamsu Bridge to turn into permanent car-free Han River crossing SEOUL, October 08 (AJP) -Seoul is turning Jamsu underpass of Banpo Bridge, which links the Banpo district south of the Han River to Yongsan on the northern bank, into an expanded car-free promenade and public space for performances and river views. The renovation project is due for completion in August 2027, according to the Seoul Metropolitan Government Thursday. Jamsu Bridge runs beneath Banpo Bridge, forming the lower level of a double-deck crossing that connects the northe October 8, 2026

South Korea, Egypt elevate ties to strategic partnership SEOUL, October 08 (AJP) - South Korea and Egypt elevated their diplomatic relations to a strategic partnership on Thursday and announced the start of negotiations for a comprehensive economic agreement, as their leaders pledged closer cooperation in trade, defense and regional security. South Korean President Lee Jae Myung and Egyptian President Abdel Fattah el-Sisi announced the agreement following a summit at Cheong Wa Dae, the presidential office in Seoul, during Sisi's thr October 8, 2026

Hot Stock: Hanmi shares reverse sharply after obesity drug approval SEOUL, October 08 (AJP) - Shares of Hanmi Pharm and its holding company Hanmi Science fell sharply in late-morning trading Thursday, reversing gains sparked by regulatory approval of Korea's first domestically developed GLP-1 obesity drug. Hanmi Science dropped 7.23 percent to 53,900 won after climbing as high as 68,200 won earlier in the session. The stock had surged 13.94 percent in after-hours trading Wednesday to 66,200 won following news of the approval. Hanmi Ph October 8, 2026

Seoul named world's best big city in Condé Nast Traveler SEOUL, October 08 (AJP)— Seoul was named the world's best big city by readers of U.S. travel magazine Condé Nast Traveler. South Korea's capital ranked first in the magazine's 2026 Readers' Choice Awards, followed by Tokyo, Phnom Penh, Shanghai and Sydney, the Seoul Metropolitan Government said Friday. The city topped the Best Big Cities ranking for the first time, rising from fifth place in 2025 and overtaking Tokyo, which had held the top spot for t October 8, 2026

Korean stocks slip despite spectacular Samsung Q3 SEOUL, October 08 (AJP) -South Korean stocks edged lower Thursday morning as foreign and institutional selling continued to retreat despite stellar third-quarter earnings guidance from Samsung Electronics and LG Energy Solution. The benchmark KOSPI fell 0.2 percent to 6,793.26 as of 10:30 a.m. (0130 GMT) after trading between 6,731.75 and 6,810.83. Foreign investors sold 635.7 billion won ($475.2 million) worth of shares, while institutions unloaded 300.7 billion won. Retail October 8, 2026

Korea joins 14 economies addressing China-led overcapacity SEOUL, October 08 (AJP) -South Korea has joined the United States, the European Union and other major economies in a new initiative to tackle industrial overcapacity as Chinese electric vehicle makers rapidly expand overseas, capturing a growing share of markets outside China. The Industry Ministry said Thursday that 15 participants had agreed to establish five sector-specific platforms covering automobiles and electric vehicles, batteries, chemicals, foundational semiconductors and October 8, 2026

AI chat records point to China-based suspect in Korean cyberattacks SEOUL, October 8 (AJP) —The culprit behind the latest wave of cyberattacks on South Korean financial firms may be a 26-year-old living in China’s Guangdong province, according to U.S. cybersecurity firm CrowdStrike Wednesday. CrowdStrike claimed it found the clues while examining servers linked to the attacks. They included records of the suspected hacker's interactions with Claude Code, an artificial intelligence (AI)-powered coding tool developed by Anthropic. T October 8, 2026

Hanwha joins Korea's reusable rocket push SEOUL, October 08 (AJP) - Hanwha Aerospace has been selected as the system integrator for South Korea’s next-generation reusable launch vehicle, but its detailed responsibilities have yet to be finalized, a company official told AJP Thursday. South Korea aims to develop the reusable rocket by 2032 as a separate project from its existing Nuri launch vehicle program. “We have been selected as the system integrator for the reusable launch vehicle, but which company is re October 8, 2026

LG Energy Solution Q3 profit jumps 25.7% on record sales SEOUL, October 08 (AJP) - LG Energy Solution's third-quarter operating profit rose 25.7 percent from a year earlier to 756 billion won ($565 million), the South Korean battery maker said in a regulatory filing Thursday. Revenue rose 59 percent to a quarterly record of 9.64 trillion won, helped by higher production of energy storage systems in North America. October 8, 2026