South Korea becomes anchor in US plan to revive shipbuilding industry

SEOUL, August 28 (AJP) - What began as a series of bruising trade talks between Washington and Seoul ended in an unexpected sector: shipbuilding. The negotiations, initially centered on tariffs, culminated in a $150 billion partnership aimed at reviving America’s depleted maritime industry with South Korean know-how. On Aug. 25, President Donald Trump hosted President Lee Jae Myung of South Korea at the White House, just a month after the latest round of negotiations. At their

August 29, 2025

Impeached ex-president to be tried in absentia as he continues to stall

SEOUL, August 28 (AJP) - Disgraced former President Yoon Suk Yeol failed to show up for his trial once again on Thursday, prompting a court to proceed with it in absentia. The Seoul Central District Court said it made the decision because it could no longer afford to delay the trial, saying, "It is difficult to force Yoon to appear in court." Citing health-related reasons, Yoon has been stalling questioning by independent prosecutors as well as a trial over his botched

August 28, 2025

Skin clinics top choice for foreign medical tourists in South Korea

SEOUL, August 28 (AJP) - More than half of foreign patients who visited South Korea last year visited skin clinics, medical statistics reveal. According to a report by the Korea Health Industry Development Institute (KHIDI) released on Thursday, of the 1.17 million foreigners who received medical treatments here last year, some 705,044 visited skin-related clinics, accounting for 56.6 percent, a whopping 117-fold increase from a mere 6,015 in 2009. The next most frequent treatmen

August 28, 2025

Korean businesses cite finance, taxes, labor rules as major growth hurdles

SEOUL, August 28 (AJP) - Despite government efforts to streamline regulations, South Korean companies continue to struggle with financing, tax burdens and labor rules, according to a new report. The Korea Chamber of Commerce and Industry (KCCI) said Thursday that nearly 71 percent of firms surveyed in the World Bank Enterprise Survey identified those three areas as their biggest obstacles. Limited access to finance was cited by 34 percent of companies, followed by taxation at 2

August 28, 2025

SK Telecom slapped record fine over data breach affecting 23 million users

SEOUL, August 28 (AJP) - South Korea’s privacy watchdog has imposed a record fine on SK Telecom after a massive data breach that exposed the personal information of more than 23 million mobile subscribers. The Personal Information Protection Commission said on Thursday that it decided to levy a fine of 134.8 billion won, or about $97 million, on the country’s largest wireless carrier. The breach compromised sensitive information from all 23.2 million users of SK Tel

August 28, 2025

Kim Jong-un to attend miliary parade in Beijing next week

SEOUL, August 28 (AJP) - North Korean leader Kim Jong-un will visit Beijing next week to attend a military parade as part of China's "Victory Day" celebrations marking the 80th anniversary of the end of World War II, state media reported on Thursday. China's Foreign Ministry also unveiled on the same day the list of the event's attendees, which includes a score of heads of state and other leaders. Also among the invitees for the event scheduled for Sept. 3 a

August 28, 2025

Bank of Korea holds key rate steady as housing market concerns continue

SEOUL, August 28 (AJP) - The Bank of Korea left its benchmark interest rate unchanged at 2.5 percent on Thursday, pausing its easing cycle for a second month as policymakers weighed mounting risks from rising household debt. The central bank’s monetary policy committee said it would maintain the current rate while monitoring domestic and global conditions, citing persistent volatility in Seoul’s housing market and elevated borrowing levels. The decision follows four r

August 28, 2025

[K-Pop] Rapper PSY under police investigation over alleged proxy receipt of prescription drugs

SEOUL, August 28 (AJP) - South Korean rapper PSY, well known for his global hit song "Gangnam Style," is under police investigation on suspicion of violating medical laws by allegedly receiving prescription-only psychotropic drugs through a proxy, authorities confirmed Thursday. According to the Seodaemun Police Station in Seoul, the 47-year-old K-pop star and a university hospital professor are being investigated following a complaint that accused them of breaching me

August 28, 2025

Probe into martial law debacle likely to hit snag as ex-PM avoids arrest

SEOUL, August 28 (AJP) - Independent investigators probing disgraced former President Yoon Suk Yeol's martial law debacle are likely to face a setback in their inquiry after former Prime Minister Han Duck-soo avoided arrest on Wednesday. The Seoul Central District Court rejected a request for an arrest warrant for Han, citing that there is "room for legal dispute" over his alleged role in the debacle late last year, which eventually led to Yoon's ouster from office

August 28, 2025

LG H&H weighs sale of beverage unit amid broader restructuring push

SEOUL, August 28 (AJP) - LG Household & Health Care, South Korea’s leading consumer goods company, is weighing the sale of its beverage subsidiary Haitai HTB. The company has tapped Samjong KPMG as lead adviser to evaluate options for Haitai HTB, formerly Haitai Beverage, as part of a broader review of its drinks division. Haitai HTB, best known for its Sunkist and Cocopalm juices, generated 414 billion won ($301 million) in revenue and 3.6 billion won in operating prof

August 28, 2025