SK Ecoplant, Gyeryong Construction punished over fatal bridge collapse

SEOUL, October 22 (AJP) - The South Korean government has ordered two major construction firms, SK Ecoplant and Gyeryong Construction, to suspend operations for six months following a bridge collapse last year that killed a worker and injured several others in Siheung, Gyeonggi Province. The Ministry of Land, Infrastructure and Transport announced the decision on Wednesday, saying the suspension will take effect from Dec. 1 through May 31 next year. The ministry said it was in

October 22, 2025

Asian shares in positive, Seoul and Tokyo lead gains on tech and battery upside

SEOUL, October 22 (AJP) - Major Asian stock markets remained broadly positive Wednesday, with Seoul and Tokyo taking the lead, although at moderated pace from recent rallies. In Seoul, the KOSPI advanced 0.7 percent to 3,815, while the KOSDAQ gained 0.9 percent to 1,146 as of midday. Bellwether Samsung Electronics extended gains, whereas SK hynix slipped on profit-taking after briefly touching the 500,000-won threshold. Petrochemical and battery material stocks led the winners on

October 22, 2025

Korea Zinc wins approval for renewable energy project in Australia

SEOUL, October 22 (AJP) - Korea Zinc’s push into renewable energy gained new momentum this week after the government of New South Wales, Australia, approved the company’s plan to build a large-scale battery storage system and solar power plant — a centerpiece of its global clean-energy ambitions. The project, known as the Richmond Valley Battery Energy Storage System (BESS), is being developed by Korea Zinc’s Australian subsidiary, Arc Energy. Once comple

October 22, 2025

OPINION: Potholes, aging tunnels, and tight budgets

SEOUL, October 22 (AJP) - South Korea’s once-celebrated expressways and bridges are showing their age. A new analysis by Rep. Bok Ki-wang of the Democratic Party found that more than 26,000 potholes have appeared on highways across the country over the past five years, with most concentrated on older routes long overdue for repair. The Yeongdong Expressway, one of the nation’s busiest arteries linking Seoul and Gangwon Province, accounted for 27 percent of the tota

October 22, 2025

Seoul to gradually phase out fuel tax relief by year-end

SEOUL, October 22 (AJP) -South Korea will begin winding down the fuel tax relief that has been in place since the post-pandemic inflation surge, the Ministry of Economy and Finance said Wednesday. The measure, which had been scheduled to expire at the end of October, will be extended through the end of the year — though at reduced rates — to “avoid overburdening consumers,” the ministry said in a statement. Starting November, the gasoline tax cut wil

October 22, 2025

OPINION: As aging deepens, South Korea confronts growing consumption slowdown

SEOUL, October 22 (AJP) - South Korea’s economy expanded modestly in the second quarter, with gross domestic product rising 0.6 percent from a year earlier, reflecting persistent weaknesses in consumer spending that threaten to slow long-term growth. According to government data, private consumption increased 0.9 percent from a year earlier, while government spending rose 2.6 percent. Construction investment plunged 11.4 percent, offset by a 3.4 percent gain in facility inve

October 22, 2025

Trade officials head to Washington again for follow-up talks

SEOUL, October 22 (AJP) - Senior government and trade officials headed back to Washington again on Wednesday, seeking to finalize prolonged tariff negotiations with the U.S. Trade Minister Kim Jung-kwan and presidential policy chief Kim Yong-beom, who returned from their U.S. trip earlier this week, are expected to meet their counterparts there for follow-up discussions, raising hopes that a breakthrough in the talks could be imminent. The two have already hinted that "pro

October 22, 2025

HUNTR/X trio and Saja Boys to come alive in Barbie forms, feature in Monopoly

SEOUL, October 22 (AJP) -Netflix has partnered with global toy giants Mattel and Hasbro to turn its blockbuster K-Pop Demon Hunters into a full-fledged franchise spanning dolls, board games, and collectibles — marking a major step in the platform’s transformation into a creator of global intellectual properties. Under the new licensing deal, Mattel, famed for Barbie, and Hasbro, the maker of Monopoly, will roll out a wide range of products inspired by the hit anime

October 22, 2025

North Korea fires multiple short-range missiles ahead of APEC summit

SEOUL, October 22 (AJP) - North Korea fired multiple short-range ballistic missiles on Wednesday, according to military authorities here. The Joint Chiefs of Staff (JCS) said it detected the missiles around 8:10 a.m., which were launched from an area south of Pyongyang. They flew about 350 kilometers and likely landed in North Hamgyong Province, rather than in the East Sea as the JCS initially speculated. Wednesday's launch, the North's first missile provocation since

October 22, 2025

S&P upgrades LG Electronics' credit outlook, citing India IPO

SEOUL, October 22 (AJP) - Standard & Poor’s on Tuesday upgraded LG Electronics’ credit outlook to “BBB Positive” from “BBB Stable,” the company’s first improvement since October 2022. The ratings agency cited robust performances in LG’s home appliance and vehicle component businesses, stronger cash flow from its Indian initial public offering, and a rebound at its affiliate, LG Display. The move came months after Moody&rsquo

October 22, 2025