Asian shares mostly higher early Wed; KOSPI and Nikkei lead on chip momentum

SEOUL, October 29 (AJP) - Asian markets were mostly higher early Wednesday, with Seoul and Tokyo continuing to set the pace for the region on the back of strong third-quarter earnings and ongoing enthusiasm for AI-related chips. Sentiment was also supported ahead of a potential U.S. Federal Reserve rate cut expected at this week’s FOMC meeting. Korea’s benchmark KOSPI rose 0.7 percent to hover around 4,040 after jumping 1.27 percent earlier, driven by a fresh rally in

October 29, 2025

Lee set to hold talks with Trump in Gyeongju

SEOUL, October 29 (AJP) - President Lee Jae-myung on Wednesday is set to hold talks with U.S. President Donald Trump on Wednesday in South Korea's historic city of Gyeongju on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit. Their meeting, scheduled for later in the day, comes about two months after they first met in Washington, D.C. in August, marking the shortest interval between reciprocal visits by the two leaders. Lee arrived in Gyeongju the previous

October 29, 2025

PHOTOS: Media art bathes Gyeongju's historic sites for APEC

SEOUL, October 29 (AJP) - The Asia-Pacific Economic Cooperation (APEC) Summit in Gyeongju is providing a unique backdrop for global leaders, with the host city leveraging its ancient heritage to deliver a striking cultural experience. As delegates gather, the historic heart of Gyeongju is being transformed nightly into an outdoor art gallery, blending tradition with cutting-edge technology. The ancient Daereungwon Tomb Complex and the iconic Cheomseongdae Observatory are the ce

October 29, 2025

North Korea fires cruise missiles as Trump arrives for APEC summit

SEOUL, October 29 (AJP) - U.S. President Donald Trump's repeated overtures to North Korean leader Kim Jong-un were met with another round of provocation, as the isolated country test-fired a couple of ship-to-surface cruise missiles in the West Sea on Tuesday. According to North Korea's state-run Korean Central News Agency on Wednesday, the missiles "improved for the launch form the ship" were launched vertically the previous day and flew for about 7,800 seconds al

October 29, 2025

Kia's electric van sets Guinness World Record for longest drive on single charge

SEOUL, October 29 (AJP) - South Korean automaker Kia said on Wednesday that its PV5 Cargo electric van has set a Guinness World Record for the longest distance traveled by a light commercial electric vehicle on a single charge, covering 693.38 kilometers, or about 431 miles, while carrying a full load. “The Guinness World Record achieved by the PV5 Cargo demonstrates Kia’s vision to provide new mobility solutions beyond transportation,” said Song Ho-sung, the c

October 29, 2025

Hanwha explores autonomous navigation through partnership with US company

SEOUL, October 29 (AJP) - South Korea's Hanwha Group is accelerating its expansion into the United States by teaming up with Havok AI, an American company specializing in autonomous navigation technology. Hanwha Solutions and Hanwha Ocean said Wednesday that they are exploring strategic cooperation with Havok AI in the development of unmanned maritime systems. On Tuesday, Havok AI’s chief executive, Paul Lewin, and his team visited Hanwha Ocean’s shipyard in G

October 29, 2025

UPDATE: SK hynix reaps record $8 billion Q3 OP, gears up for aggressive capex

(Updated with comments from conference call) SEOUL, October 29 (AJP) - SK hynix plans to “significantly” ramp up facility investment next year after reporting a milestone operating profit of $8 billion in the third quarter, reinforcing its ambition to stay at the forefront of the global AI transition and ride what it calls an “unprecedented super cycle.” The Korean memory giant on Wednesday reported an operating profit of 11.38 trillion won ($

October 29, 2025

OPINION: Promise and peril of 'productive finance' in South Korea

Oh Jung-geun, head of Free Market Research Institute SEOUL, October 29 (AJP) - When Lee Eok-won, South Korea’s new chairman of the Financial Services Commission, unveiled his vision for “financial transformation” on Sept. 15, his message was both ambitious and urgent. Lee called for “productive finance,” “consumer-centered finance,” and “trust finance” — a sweeping reform agenda meant to propel the country’s economic fu

October 29, 2025

Korea–Japan drama pairings strike universal chord in streaming era

SEOUL, October 28 (AJP) - New Japanese Prime Minister Sanae Takaichi expressed her liking for Korean food, beauty products, and dramas to brush aside concerns that her hawkish and nationalist posture might sour bilateral ties. Her comment reflects a broader trend in Japan, where audiences increasingly separate politics from cultural consumption as Korean pop culture gains deeper traction through social media and global streaming platforms. Not only have the two neighbors &mdash

October 28, 2025

Asian shares broadly down Tuesday as Seoul, Tokyo retreat on profit-taking

SEOUL, October 28 (AJP) - Asian markets ended mostly lower on Tuesday, with Korea and Japan pulling back after their record-setting rally in the previous session. Korea’s benchmark KOSPI fell 0.8 percent to close at 4,010.41, pressured by heavy foreign selling. Overseas investors offloaded 1.64 trillion won ($1.14 billion) worth of shares, while retail investors bought 1.57 trillion won and domestic institutions added 311.4 billion won, signaling broad profit-taking after a

October 28, 2025