Nokia promotes AI-powered networks as crucial to Korea's tech future

SEOUL, July 2 (AJP) - Finnish telecommunications giant Nokia unveiled its latest suite of AI-powered networking technologies in Seoul, Wednesday, positioning robust network infrastructure — not just graphics processing units — as the true backbone of next-generation artificial intelligence systems. The company showcased its 25G passive optical network (PON) and Ethernet-PON (E-PON) technologies, which promise faster, more scalable internet speeds without the need to re

July 2, 2025

Shilla Duty Free, Paradise City partner to attract foreign tourists

SEOUL, July 02 (AJP) - Shilla Duty Free has joined forces with Paradise City, a major integrated resort and casino complex, to launch a collaborative marketing campaign aimed at boosting foreign tourist traffic, the companies announced Wednesday. The agreement outlines a strategic partnership that will combine the two companies’ strengths in duty-free retail and hospitality to enhance services for international visitors. As part of the arrangement, Shilla Duty Free will o

July 2, 2025

Musinsa to sell fashion, beauty products targeting young consumers at GS25 stores

SEOUL, July 02 (AJP) - South Korean fashion platform Musinsa is expanding its collaboration with GS25, one of the country’s largest convenience store chains, introducing a new lineup of summer apparel and debuting its first beauty products at retail locations nationwide, the company announced Wednesday. The partnership extension includes five new items from the Musinsa Standard Express collection — the company’s casual sub-label tailored for retail distribution &

July 2, 2025

Hybe names new heads for Americas and APAC as global push accelerates

SEOUL, July 02 (AJP) - Hybe, the South Korean entertainment company behind BTS, has appointed Isaac Lee as CEO and Chairman of Hybe America, expanding his current leadership role over Latin America to include the entire Western Hemisphere. The move reflects Hybe's broader push to streamline global operations and build stronger local networks in key music markets. The entertainment powerhouse that nurtured top K-pop acts such as BTS and TXT said Wednesday that Lee, who has serv

July 2, 2025

Hanwha Ocean to build Korea's next-generation icebreaking research vessel

SEOUL, July 02 (AJP) - South Korea has taken a significant step in expanding its polar research capabilities with the selection of Hanwha Ocean as the preferred bidder to construct the country’s next-generation icebreaking research vessel. The vessel, to be built under the supervision of the Ministry of Oceans and Fisheries, is scheduled for delivery by December 2029. The new ship will more than double the capacity of the country’s first and only existing icebreaker

July 2, 2025

TRAVEL: The royal pines of Samcheok — A legacy etched in wood

SAMCHEOK, July 02 (AJP) - In the mountainous reaches of Samcheok, Gangwon Province, lies Jungyongmyo, the tomb of General Yangmu, the father of King Mokjo and a fifth-generation ancestor of Yi Seong-gye, the visionary who founded the Joseon Dynasty. Surrounding this sacred ground is a remarkable forest of Geumgang pine trees, a distinctive species deeply woven into the fabric of Korean history and culture. This dense cluster boasts approximately 140,000 pine trees, many of them

July 2, 2025

FBI on hunt for disguised North Korean IT workers in crypto theft scheme

SEOUL, July 2 (AJP) - U.S. federal investigators have been searching for four North Koreans allegedly involved in an IT scheme to steal cryptocurrency from blockchain firms and launder the illicit proceeds of their thefts. According to the U.S. Federal Bureau of Investigation (FBI), they were placed on a wanted list on Tuesday with a reward of up to US$5 million for information leading to their capture. "Kim Kwang Jin, Kang Tae Bok, Jong Pong Ju, and Chang Nam Il are wanted

July 2, 2025

Inflation hits five-month high in South Korea as food prices climb

SEOUL, July 02 (AJP) - South Korea’s consumer inflation edged higher in June, returning to the 2 percent range after a brief dip, as rising food and seafood prices fueled by warming ocean temperatures drove costs upward, government data showed Wednesday. The Consumer Price Index rose 2.2 percent year-on-year, up from 1.9 percent in May, according to Statistics Korea. The index reached 116.31, based on 2020 prices set at 100 — the fastest rate of inflation since January

July 2, 2025

US set to impose new tariffs on Korean goods as steel, automobile exports stumble

SEOUL, July 2 (AJP) - South Korea’s exports declined in the first half of 2025, as mounting U.S. tariffs on key goods — including steel and automobiles — weighed heavily on trade, with additional duties of up to 15 percent set to take effect next week. According to data released Tuesday by the Ministry of Trade, Industry and Energy, exports fell 0.03 percent year-on-year to $334.7 billion from January to June. While the drop appears slight, officials say the und

July 2, 2025

HD Hyundai to merge key construction units

SEOUL, July 02 (AJP) - HD Hyundai has unveiled plans to merge two of its major subsidiaries — HD Hyundai Construction Equipment and HD Hyundai Infracore — into a single, unified entity tentatively named HD Construction Equipment. The boards of both companies approved the merger plan in meetings held on July 1. The new company is expected to be officially launched on Jan. 1, 2026, pending regulatory approvals and a shareholder vote. Once combined, the company is proj

July 2, 2025