Xiaomi to launch flagship smartphone in South Korea as it challenges Samsung on home turf

SEOUL, June 27 (AJP) - Chinese smartphone maker Xiaomi is to launch its flagship "Xiaomi 15" smartphone during the grand opening of its very first offline store Mi Store in South Korea on Saturday, as the Chinese elctronics giant takes a bold step into the notorious South Korean market often dubbed “graveyard of foreign smartphone brands” where Samsung maintains its strong grip, with Apple capturing the hearts of young consumers. Along with the flagship smartph

June 27, 2025

US Senate passes resolution commemorating Korean War anniversary

SEOUL, June 27 (AJP) - The U.S. on Thursday adopted a resolution commemorating the 75th anniversary of the outbreak of the Korean War, reaffirming its alliance with South Korea. According to U.S. Senator Dan Sullivan of Alaska, the Senate unanimously passed the resolution coinciding with the anniversary, which recognizes "important lessons from the war, particularly the imperative of maintaining military readiness in defense of the United States and its allies." The res

June 27, 2025

Hanwha Aerospace secures full-supply engine contract for KF-21 fighter jet

SEOUL, June 27 (AJP) - Hanwha Aerospace announced on Jun. 26 that it has signed an additional contract worth 623.2 billion won ($458 million) with South Korea's Defense Acquisition Program Administration (DAPA) to supply engines for South Korea’s next-generation KF-21 “Boramae” fighter jet. This latest deal follows a 556.2 billion won agreement signed in June last year, bringing the total value of engine supply contracts for the first mass-production batch to

June 27, 2025

IFA chief expects Samsung and LG appliance subscription services to spread across Europe

SEOUL, June 27 (AJP) - Home appliance subscription services offered by Samsung Electronics and LG Electronics represent a win-win solution for both consumers and companies that will likely expand to European markets including Germany, according to the head of the Internationale Funkausstellung Berlin (IFA), a major consumer electronics show, on Thursday. Leif Lindner, CEO of IFA, told reporters at a press briefing in Seoul's COEX that subscription models reduce upfront costs f

June 27, 2025

Concerns grow in Seoul as Washington signals push to raise defense spending from Asian allies

SEOUL, June 27 (AJP) - Speculation has been growing that the U.S. could pressure South Korea and other Asian countries to shoulder a greater share of security costs, after NATO allies agreed earlier this week in the Hague, the Netherlands, to spend 5 percent of their gross domestic product (GDP) on defense. Amid these developments, a White House spokesperson was quick to say on Thursday that if European allies can increase their defense spending, Asian allies can do the same. &qu

June 27, 2025

S. Korea starts dismantling of Kori-1 nuclear reactor after final green light

SEOUL, June 27 (AJP) - South Korea has begun dismantling its first commercial nuclear reactor, Kori-1, following final approval from the Nuclear Safety and Security Commission on Thursday. The project, led by Korea Hydro & Nuclear Power (KHNP), is expected to span 12 years, ending with full site restoration by 2037. Kori-1, located in Gijang County, Busan some 320 kilometers (198 miles) southeast of Seoul, was a 595-megawatt pressurized water reactor built by Westinghouse. It

June 27, 2025

Kim Jong-un's wife surfaces for first time in about 18 months

SEOUL, June 26 (AJP) - North Korean leader Kim Jong-un's wife appeared at an event for the grand opening of a coastal tourist zone, state media reported on Thursday. According to the North's state-run Korean Central News Agency (KCNA), Kim attended a ceremony on Tuesday marking the completion of the Wonsan and Kalma tourist zone in Kangwon Province, one of his pet projects, as he apparently aims to boost the country's tourism industry as a source of hard currency for hi

June 26, 2025

PHOTOS: Centuries-old stele earns National Treasure status

SEOUL, June 26 (AJP) - A remarkable stele from the ancient Silla Dynasty, which chronicles the construction of an embankment and a pond designed to mitigate natural disasters, was designated a National Treasure on June 20. The ancient stone in Yeongcheon, North Gyeongsang Province, stands beside a reservoir known as Cheongmot, a body of water that has been in continuous use since its creation during the Silla period, more than a millennium ago. Carved on both sides of a single,

June 26, 2025

Top security adviser attends NATO summit on behalf of Lee

SEOUL, June 26 (AJP) - National Security Adviser Wi Sung-lac met with a slew of heads of state and government officials on the sidelines of the NATO summit which kicked off in the Hague, the Netherlands early this week. Wi, who is attending the two-day summit on behalf of South Korean President Lee Jae-myung, held a series of talks with key figures and participants including NATO Secretary-General Mark Rutte and U.S. Secretary of State Mark Rubio. According to the presidential of

June 26, 2025

Seoul logistics pipeline shrinks amid cautious market sentiment

SEOUL, June 26 (AJP) - South Korea’s logistics market is pulling back. After years of rapid expansion, the Seoul metropolitan area is now seeing a marked slowdown in new warehouse development, as rising costs, limited access to project financing, and a shifting demand landscape prompt developers to reassess their strategies. According to the 2025 Korea Logistics Market Report from Cushman & Wakefield Korea, about 3.92 million square meters of logistics space were complet

June 26, 2025