Pyongyang answers Trump's overture with calibrated missile test

SEOUL, October 29 (AJP) - U.S. President Donald Trump appeared to keep his hopes up for a rendezvous with North Korean leader Kim Jong-un during his short visit to South Korea for this year's Asia-Pacific Economic Cooperation events, and the North responded in a pointed yet carefully managed missile test. North Korea "conducted a test-fire of sea-to-surface strategic cruise missiles in the West Sea of Korea" on Tuesday, the state-run Korean Central News Agency (KCNA) r

October 29, 2025

Lee rolls out red carpet for Trump as bilateral trade talks get underway

SEOUL, October 29 (AJP) - U.S. President Donald Trump arrived in Gyeongju on Wednesday for the Asia-Pacific Economic Cooperation (APEC) summit and began the final leg of his Asia trip that included stops in Malaysia and Japan. Upon arrival, he headed to the CEO Summit as part of the APEC gathering and delivered a keynote speech, in which he said a trade deal with South Korea will be finalized "very soon," raising expectations for a possible breakthrough in stalled tariff-r

October 29, 2025

SK Bioscience hosts Hilleman Institute board in Korea to deepen vaccine collaboration

SEOUL, October 29 (AJP) - The board of the Hilleman Institute, a leading global vaccine research organization, visited SK Bioscience’s headquarters on Tuesday to explore deeper cooperation in vaccine development and manufacturing, the company said Wednesday. The visit marked a significant step in strengthening strategic ties between the two organizations. It was the first time the Hilleman Institute’s board — established by pharmaceutical giant MSD and the U.K.

October 29, 2025

Bank of Korea chief warns of risks from won-based stablecoin

SEOUL, October 29 (AJP) - Bank of Korea Governor Lee Chang-yong voiced caution on Wednesday over the potential introduction of a won-denominated stablecoin, warning that such a digital currency could trigger capital outflows and heighten volatility in the currency market. “Many people might take the won stablecoin abroad, which is worrisome,” Lee told lawmakers during a parliamentary audit, stressing that a hasty rollout could pose financial stability risks.

October 29, 2025

Global leaders gather for APEC CEO Summit

SEOUL, October 29 (AJP) - Global business moguls and other leaders gathered for talks at the CEO Summit as part of the Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju, which kicked off on Wednesday. The multilateral business roundtable, hosted by the Korea Chamber of Commerce and Industry (KCCI), is the largest ever, featuring more sessions, speakers, and high-level attendees. President Lee Jae Myung, along with leaders from major businesses

October 29, 2025

Hanmi Semiconductor chairman increases stake in sign of confidence

SEOUL, October 29 (AJP) - Hanmi Semiconductor said Wednesday that its chairman, Kwak Dong-shin, will buy 5 billion won (about $3.7 million) worth of company shares using his own funds. The purchase, expected to be completed by Nov. 26, will bring Kwak’s total personal investment in Hanmi shares since 2023 to 47.3 billion won, raising his stake from 33.47 percent to 33.50 percent. Hanmi Semiconductor is a global leader in TC bonder equipment — technology critical t

October 29, 2025

South Korea sees births rise for 14th straight month

SEOUL, October 29 (AJP) - South Korea recorded an increase in births for the 14th consecutive month in August, according to new government data released Wednesday. The National Data Office said 20,867 babies were born in August, a 3.8 percent increase from a year earlier. Births rose in 12 of the country’s 17 major regions, including Seoul and Busan, though declines continued in Daejeon, Sejong and several smaller provinces. The birth rate climbed to 4.8 per 1,0

October 29, 2025

AI data centers are 'strategic national assets': Naver chief

SEOUL, October 29 (AJP) - Naver’s chief executive, Choi Soo-yeon, urged greater institutional and policy support for artificial intelligence data centers, calling them essential to the next stage of digital development in South Korea. Speaking Wednesday at the APEC CEO Summit in Gyeongju, Choi emphasized that AI data centers had become foundational infrastructure for the global economy and said governments should treat them as strategic national assets. “The AI

October 29, 2025

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