South Korean companies accelerate China exit amid trade tensions

SEOUL, July 12 (AJP) - South Korean companies are rapidly withdrawing from China as regulatory pressures and trade tensions make operations increasingly unprofitable, with major manufacturers joining what was once limited to retail firms. About 40 major South Korean companies have closed or downsized their Chinese operations since 2017, according to the Korea Institute for International Economic Policy. The trend has expanded beyond retail to encompass key manufacturing sectors incl

July 12, 2025

US tariff revenue hits record high as trade war escalates

SEOUL, July 12 (AJP) - The United States recorded its highest-ever monthly tariff revenue in June, collecting $27.2 billion as the Trump administration's aggressive trade policies continue to reshape federal finances. The figure represents a nearly four-fold increase from the same period last year, according to Treasury Department data released Friday. The surge in tariff income helped push total federal revenue to a record monthly high of $526 billion, up 13 percent from June 2

July 12, 2025

YouTubers shape K-beauty retail in Leferi's latest Select Store pop-up

SEOUL, July 11 (AJP) - South Korean beauty content company Leferi has launched its fourth Select Store pop-up event, showcasing a curated lineup of Korean cosmetics selected through a sweeping analysis of YouTube beauty content. Running through July 13 at Starfield COEX Mall, Hanam, and Suwon, the Select Store – THE KYEA SELECTION features 21 standout products from 13 brands, including Jung Saem Mool, AHC, and TOKO. What sets this edition apart is its methodology: rather th

July 11, 2025

Lee names picks for remaining two ministerial posts

SEOUL, July 11 (AJP) - President Lee Jae-myung on Friday tapped candidates to fill the remaining two ministerial posts, completing the nominations for his 19-strong first cabinet. Kim Yun-duk, a three-term lawmaker from the ruling Democratic Party (DP), was named to head the Ministry of Land, Infrastructure and Transport, while Chae Hwi-young, CEO of travel platform Nol Universe, was nominated to lead the Ministry of Culture, Sports and Tourism, presidential chief of staff Kang Hoon

July 11, 2025

Korea's top yards post triple-digit profit growth

SEOUL, July 11 (AJP) - South Korea’s top three shipbuilders — HD Korea Shipbuilding & Offshore Engineering (HD KSOE), Hanwha Ocean, and Samsung Heavy Industries — are projected to post a combined operating profit of more than 2.57 trillion won ($1.86 billion) for the first half of 2025, more than triple the earnings from a year earlier, as the industry rides a wave of high-margin vessel deliveries and growing defense contracts. The projected total marks a 226

July 11, 2025

South Korea, Japan and US conduct aerial drill as defense chiefs meet

SEOUL, July 11 (AJP) - South Korea conducted a large-scale joint aerial drill with Japan and the United States, the Defense Ministry said on Friday. In a show of readiness against North Korea's nuclear and missile threats, the exercise was held over waters off the southern resort island of Jeju, involving a U.S. B-52 strategic bomber as well as South Korea's KF-16 and Japan's F-2 fighter jets, according to the ministry. "Through close cooperation, the three count

July 11, 2025

Korea to dispatch veterinary medicine trade mission to Chile, Mexico

SEOUL, July 11 (AJP) - South Korea is sending a trade delegation to Chile and Mexico next week in a bid to expand exports of veterinary medicines and deepen agricultural ties. The Ministry of Agriculture, Food and Rural Affairs announced it will lead a mission from July 12 to 21 aimed at opening new export channels for South Korean veterinary drugs, including antibiotics and vaccines used in livestock, pet care, and aquaculture. Representatives from the Korea Animal Health Produc

July 11, 2025

PHOTOS: Pictorial album of Mount Baekdu's landscapes

SEOUL, July 11 (AJP) - North Korea’s Foreign Languages Publishing House released a new pictorial album in June showcasing the natural landscapes of Mount Baekdu and Lake Chon. Mount Baekdu, which stands at 2,744 meters, is the highest peak on the Korean Peninsula. Its summit features Lake Chon, a caldera lake. The lake has a circumference of 14 kilometers, an average depth of 213 meters, and a maximum depth of 384 meters. From mid-October to mid-May, Lake Chon is typically c

July 11, 2025

North Korea hails historic treaty in bid to mend ties with China

SEOUL, July 11 (AJP) - North Korea will continue to strengthen its ties with China, the state-run Rodong Sinmun reported on Friday, as two countries marked the anniversary of a treaty signed decades ago. Coinciding with the 64th anniversary of the treaty signed on July 11, 1961, by North Korean regime founder Kim Il-sung and then-Chinese Premier Zhou Enlai, the daily hailed the treaty for laying the groundwork to strengthen "strategic cooperation" between Pyongyang and Bei

July 11, 2025

KOSPI surges above 3,200 for first time since 2021

SEOUL, July 11 (AJP) - South Korea’s benchmark KOSPI index climbed above the 3,200 level for the first time in nearly four years on Friday, buoyed by a global rally in semiconductor stocks, before paring gains as foreign investors turned net sellers. The index surged as high as 3,216.69 in morning trading, its highest intraday level since September 7, 2021, when it reached 3,201.76. By early afternoon, however, the index had trimmed its advance, standing at 3,186.14 — up

July 11, 2025