Seoul voices concerns over Chinese installations in waters near West Sea

SEOUL, October 23 (AJP) - The Ministry of Foreign Affairs on Thursday vowed to keep monitoring and raise issues over Chinese unilateral installations in maritime buffer zones along the West Sea that overlap with South Korea's. The pledge comes a day after lawmaker Lee Byung-jin of the ruling Democratic Party revealed during a parliamentary audit that Chinese personnel were spotted on such structures in the area. Lee shared photos showing five people on the structures, believe

October 23, 2025

Bank of Korea chief signals nearing end of easing cycle

SEOUL, October 23 (AJP) - The Bank of Korea (BOK) held its key interest rate at 2.50 percent for October, keeping policy steady since the last 25-basis-point cut in May amid foreign exchange and housing market volatility, and signaled that the current easing cycle may be nearing its end unless major external shocks occur. “We are maintaining an easing policy stance, but the pace and timing of additional rate cuts may have to be adjusted,” BOK Governor Rhee Chan-yong

October 23, 2025

Korean AI company Upstage unveils Japan-focused LLM 'Shin Pro'

SEOUL, October 23 (AJP) - South Korean artificial intelligence company Upstage announced Thursday the launch of “Shin Pro,” a large language model (LLM) designed specifically for the Japanese market and developed in partnership with Tokyo-based AI firm Karakuri. Built on Upstage’s proprietary Solar model, Shin Pro is a 31-billion-parameter system fine-tuned for Japanese language nuances and cultural context. The model is optimized for on-premise deployment, off

October 23, 2025

Singapore's VENA Group pledges $20 billion investment in Korea's green energy, AI sectors

SEOUL, October 23 (AJP) - Singapore-based renewable energy company VENA Group plans to invest $20 billion in South Korea to advance projects in renewable energy and artificial intelligence data centers, officials here said Thursday. The announcement came after the company delivered a letter of intent at a ceremony held at the National Assembly in Seoul, attended by Environment Minister Kim Sung-hwan, Vice Minister of Science and ICT Ryu Jae-myung, Democratic Party lawmaker Cha J

October 23, 2025

US secretary of state expected to accompany Trump at next week's APEC summit

SEOUL, October 23 (AJP) - U.S. Secretary of State Marco Rubio will visit South Korea next week as part of his trip to Asian countries, the State Department said Wednesday. In a press statement, the department said Rubio will "travel to Kuala Lumpur, Tokyo, and Gyeongju" from Oct. 26 to 30 to "advance peace and prosperity in the Asia-Pacific region," after wrapping up his trip to Jerusalem where he will "reaffirm America's unwavering commitment to Israel&

October 23, 2025

Hyundai Motor steps on the gas in Indian foray as US and China turn inward

SEOUL, October 23 (AJP) - South Korea's Hyundai Motor Group is accelerating its push into India following last year's landmark $3.3 billion initial public offering of its Indian unit, positioning the country as a central pillar of its global growth strategy amid rising protectionism in the United States and China. "India is a strategic priority in Hyundai's global growth vision. India isn't just important to Hyundai's global strategy — India is Hyundai

October 23, 2025

Lee backs US efforts to engage in dialogue with North Korea in CNN interview

SEOUL, October 23 (AJP) - President Lee Jae Myung expressed his willingness to help facilitate dialogue between Pyongyang and Washington in an interview with CNN conducted on Wednesday and released the following day. "I hope that (U.S. President Donald Trump and North Korean leader Kim Jong-un) will be able to engage in dialogue," he said. "I also believe that wants to achieve world peace, and that is why I have made the recommendation for him to take on t

October 23, 2025

HD Hyundai merger plan gets shareholders' approval

SEOUL, October 23 (AJP) - HD Hyundai Heavy Industries will officially merge with its affiliate HD Hyundai Mipo Dockyard on Dec. 1, following overwhelming shareholder approval on Thursday — a move the company says will sharpen its competitiveness in the global shipbuilding and defense markets. At the respective shareholder meetings, 98.54 percent of HD Hyundai Heavy Industries’ shareholders and 87.56 percent of HD Hyundai Mipo’s shareholders voted in favor of th

October 23, 2025

Bangladesh's investment chief visits South Korea to discuss deepening ties

SEOUL, October 23 (AJP) - South Korea and Bangladesh are moving to strengthen economic cooperation as Dhaka prepares to transition from least-developed country (LDC) status, officials here said Thursday. South Korean Trade Minister Yeo Han-gu met with Chowdhury Asik Mahmud Bin Harun, chairman of the Bangladesh Investment Development Authority, in Seoul to discuss ways to expand bilateral trade and investment , according to the Ministry of Trade, Industry and Energy. Yeo under

October 23, 2025

Korean won weakens past 1,440 per US dollar, hitting 6-month low

SEOUL, October 23 (AJP) - The South Korean won slid past 1,440 per U.S. dollar on Thursday, its weakest level in six months, as investors reacted to a mix of global and regional pressures — from U.S. policy uncertainty to shifting dynamics in Japan and China. The won was traded at 1,440.3 per dollar, down 10.45 won from the previous session as of 1:00 p.m., marking its lowest point since April 29. The currency opened at 1,431.8 won. Speaking at a press conference

October 23, 2025