LG Electronics reports 46.6 percent drop in Q2 operating profit amid tariff pressures

SEOUL, July 07 (AJP) - LG Electronics reported a 46.6 percent decline in second-quarter operating profit to 639.1 billion won ($491 million) as the South Korean appliance maker faced headwinds from the United States tariffs and weakened demand for televisions and IT products. Revenue fell 4.4 percent year-on-year to 20.74 trillion won in the April-June period, the company said in a preliminary earnings statement on Monday. The results reflect challenging operating conditions, in

July 7, 2025

S. Korea, UK hold FTA upgrade talks in Seoul to strengthen partnership

SEOUL, July 7 (AJP) - South Korea and the United Kingdom kicked off their fifth round of negotiations to upgrade their bilateral free trade agreement in Seoul, with about 60 delegates from both sides gathering in Seoul for five days of intensive talks. The negotiations, running from Monday through Friday, aim to modernize the Korea-UK FTA that was hastily signed after Britain's exit from the European Union. The original deal largely mirrored the terms of South Korea's existi

July 7, 2025

S. Korea's convenience stores bet on private brands to fight stagnation

SEOUL, July 07 (AJP) - By the end of 2024, South Korea had 54,852 convenience stores nationwide. That breaks down to roughly one store for every 1,000 people. In urban areas, it is not unusual to see three or four different franchises on the same block, a clear sign of how dense and competitive the market has become. With growth slowing, the country's biggest chains, CU, GS25, 7-Eleven Korea, and Emart24, are turning to private brands (PBs) to stay relevant and improve margins.

July 7, 2025

N. Korea steps up tribute efforts ahead of Kim Il-sung's 31st death anniversary

SEOUL, July 07 (AJP) - North Korea is ramping up memorial activities ahead of the 31st anniversary of founding leader Kim Il-sung's death on July 8, with state media reinforcing his legacy and ideological vision. In a two-page article titled "Only for the people, relying on the people," published by the ruling Workers' Party newspaper Rodong Sinmun on Monday, Kim was hailed as a "peerless great man" whose life was guided by the principle of Iminwi Cheon,

July 7, 2025

S. Korea to launch campaign to lower wedding costs

SEOUL, July 7 (AJP) - The South Korean government announced Sunday that it will launch a national campaign to address the soaring cost of weddings and shift public perceptions around the issue. The initiative follows President Lee Jae-myung's campaign pledge to ease the financial burdens associated with marriage. High wedding costs are often cited as one of the reasons young people are delaying marriage and starting families. The Fair Trade Commission (FTC) recently commi

July 7, 2025

S. Korean game companies jump on Squid Game season 3 buzz

SEOUL, July 07 (AJP) - With "Squid Game" back for a third season, the global hit is once again making waves, and South Korea's gaming industry is moving fast to ride the momentum. According to Netflix’s Top 10 chart as of July 6, "Squid Game: Season 3" ranked first among non-English TV series, pulling in more than 60.1 million views in its first week. That popularity has translated into new game content from major South Korean developers, giving fans a

July 7, 2025

Special counsel team seeks arrest warrant for Yoon Suk Yeol

SEOUL, July 06 (AJP) - A special counsel team investigating the Dec. 3 martial law incident has requested an arrest warrant for former President Yoon Suk Yeol. At a press briefing, Sunday, prosecutor Park Ji-young confirmed that the team filed the request with the Seoul Central District Court earlier in the day. Yoon faces multiple charges, including obstruction of official duties by public officials, violation of the Presidential Security Act, abuse of power, and falsification

July 6, 2025

Korea's security chief heads to US for talks on Lee-Trump summit

SEOUL, July 06 (AJP) - South Korea's National Security Adviser Wi Sung-lac departed for Washington, D.C., on Sunday for high-stakes talks with U.S. officials as the two allies navigate a tense moment in trade and defense negotiations — and explore the possibility of a summit between President Lee Jae Myung and U.S. President Donald Trump. Speaking to reporters at Incheon International Airport ahead of his departure, Wi said his three-day trip is aimed at “deepening

July 6, 2025

South Korea's ruling party axes Cambodia loan aid linked to former first lady

SEOUL, July 06 (AJP) - South Korea’s ruling Democratic Party has scrapped the entire budget for development loans to Cambodia, as special prosecutors are investigating whether a former official from the Unification Church lobbied former First Lady Kim Keon Hee to support church-backed projects in the Southeast Asian country. The 80 billion won ($58 million) in official development assistance (ODA) loans, originally allocated for civil cooperation in Cambodia, has been cut, t

July 6, 2025

KAIST researchers develop flexible micro-OLED brain implant for precision neural treatment

SEOUL, July 06 (AJP) - South Korea's prominent research institute Korea Advanced Institute of Science and Technology (KAIST) announced Sunday the development of a new flexible brain implant that uses micro organic light-emitting diodes (micro-OLEDs) to stimulate neurons with light. The device is expected to offer a safer and more precise tool for treating hard-to-cure brain disorders through a method known as optogenetics. Optogenetics involves sending light into specific area

July 6, 2025