Data breach drives SK Telecom to first quarterly loss in decades

SEOUL, October 30 (AJP) - South Korea’s largest mobile carrier, SK Telecom, reported a steep decline in profit and a swing to a net loss in the third quarter on Thursday, as the fallout from one of the country’s largest personal data breaches continued to batter its business and reputation. The net loss ended the company's streak of consecutive quarterly profits that had continued since 2000. The company said its consolidated operating profit plunged 90.9 percen

October 30, 2025

UPDATE: Samsung Elec Q3 memory OP stronger than expected at $5 bn, upbeat on Q4

(Updated with conference call comments) SEOUL, October 30 (AJP) - Samsung Electronics’ chip division staged a decisive turnaround in the July–September quarter, with profit from its core memory operation jumping to 7 trillion won ($4.9 billion) — nearly 18 times from the last quarter — on the back of record memory revenue fueled by high-value server demand. Memory sales climbed 26 percent on quarter and 20 percent on year to a fresh quarterly high of 26.7

October 30, 2025

TRAVEL: Exploring wild scenery of Korea's West Sea archipelago

GUNSAN, October 30 (AJP) - The Gogunsan Archipelago, a stunning cluster of 63 islands in the Yellow Sea off Gunsan, South Korea, is no longer a world apart. Thanks to the massive Saemangeum Seawall — a 33.9 km engineering marvel connecting Gunsan and Buan — six of the largest islands are now accessible by car. These include Seonyudo, Jangjado, Daejangdo, Munyeodo, Sinsido, and Yamido. Work on the seawall began in 1991 and was finally completed on April 27, 2010, perman

October 30, 2025

Türkiye and South Korea reaffirm 'blood brotherhood' at Republic Day reception

SEOUL, October 30 (AJP) - The Embassy of Türkiye in the Republic of Korea hosted a reception on Wednesday to mark the 102nd anniversary of the founding of the Republic, celebrating the long-standing friendship between Türkiye and South Korea — a relationship born of shared sacrifice during the Korean War. The event, held at the Ambassador Pullman Hotel in Seoul, brought together around 300 guests, including diplomats, government officials, scholars, media represent

October 30, 2025

Business leaders to gather for dinner with Xi

SEOUL, October 30 (AJP) - Chinese President Xi Jinping is making his first visit to South Korea in 11 years to attend the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju. According to industry sources, he is scheduled to meet with top business leaders and executives at a dinner to strengthen bilateral economic ties. The meeting is scheduled for Saturday, when the multilateral gathering wraps up. Attendees are expected to include leaders from top conglomerates such as

October 30, 2025

Lee set for first summit with Japan's newly elected prime minister

SEOUL, October 30 (AJP) - President Lee Jae Myung is expected to hold his first summit with Japan's newly-elected Prime Minister Sanae Takaichi on Thursday on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju. With both sides still coordinating their schedules, the meeting is expected to take place later in the day. Takaichi, known as a staunch right-winger and a self-proclaimed successor to the late former Prime Minister Abe Shinzo, will also h

October 30, 2025

OPINION: Embracing 'creative destruction' in South Korea's shipping industry

SEOUL, October 30 (AJP) - This year’s Nobel Prize in Economics celebrated the power of innovation and sustainable growth through the lens of “creative destruction.” Co-recipient Prof. Peter Howitt underscored the need for a competitive environment that enables market leaders to keep innovating — a concept rooted in Joseph Schumpeter’s classic theory that progress is driven as much by destruction as by creation. That message resonates deeply with Sou

October 30, 2025

Trump gives a go-ahead to Korea's nuclear submarine project

GYEONGJU, October 30 (AJP) - After concessions over upfront cash payment in the $350 billion investment package from South Korea, U.S. President Donald Trump gave a go-ahead to Korean production of nuclear-powered submarine in a show of "stronger-than-ever" bilateral relations, indicating upgrade in military ties to the highest level, given Washington's protectiveness of nuclear submarine technology. "I have given them approval to build a nuclear-powered

October 30, 2025

Upon "golden" treatment, Trump agrees to a trade deal with South Korea

GYEONGJU, October 29 (AJP) -— President Donald Trump on Wednesday agreed to Seoul’s terms on South Korea’s $350 billion investment package after months of wrangling, clearing the way for a sweeping trade deal on the sidelines of the Asia-Pacific Economic Cooperation Summit, according to Seoul's presidential office. The agreement—$200 billion in cash and $150 billion in shipbuilding projects led by Korean firms—will cut U.S. tariffs on Korean

October 29, 2025

S. Korean economists see signs of rebound, but growth momentum remains fragile

SEOUL, October 29 (AJP) - South Korea’s economy is showing clearer signs of recovery, led by rebounding semiconductor exports and stronger outbound shipments, suggesting that the country may have passed the bottom of the current downturn. According to preliminary data released by the Bank of Korea on Monday, real gross domestic product (GDP) grew 1.2% in the third quarter from the previous quarter, beating market expectations of 1.0%. It marked the fastest quarterly expansi

October 29, 2025