Number of single-person households continues to grow

SEOUL, June 19 (AJP) - An increasing number of South Koreans are opting to live alone. According to a report released by Statistics Korea on Thursday, the number of single-person households surpassed 8 million last year, up a whopping 616,000 households from a year ago. Those who live alone are increasingly likely to be employed, with some 5.1 million having jobs, up 426,000 from the previous year. By area, Gyeonggi Province had the highest number of employed single-person househ

June 19, 2025

Gov't to hand out cash vouchers to boost consumption

SEOUL, June 19 (AJP) - All South Koreans will get a cash voucher ranging from 150,000 won to 500,000 won (US$109 to $362) depending on their income brackets, as early as next month. It is part of plans to boost private consumption and revive the economy, as President Lee Jae-myung signed off on a supplementary budget worth 20.2 trillion won ($14.5 billion) during a cabinet meeting in Seoul on Thursday. The budget, which still requires parliamentary approval, also includes support

June 19, 2025

HD Hyundai deepens investment in Bill Gates–backed nuclear start-up

SEOUL, June 19 (AJP) - HD Hyundai said Thursday it has strengthened its partnership with TerraPower, joining a $650 million funding round led by the U.S. nuclear firm. The fresh capital infusion will help finance construction of the first commercial Natrium reactor in the United States and support broader international deployment of TerraPower’s small modular reactor (SMR) technology, according to the company. Founded in 2006 by Bill Gates, TerraPower is developing

June 19, 2025

PHOTOS: Farmers rush harvest as monsoon looms

SEOUL, June 19 (AJP) - As summer's full intensity takes hold, farmers across the region are working feverishly to bring in their crops. They aim to complete the harvest before the anticipated arrival of the monsoon season. From sun-baked fields, images emerge of these determined cultivators, their brows beaded with sweat, locked in a daily struggle against the elements.

June 19, 2025

Fed holds rates, prompting caution in Seoul about monetary easing

SEOUL, June 19 (AJP) - The U.S. Federal Reserve has opted to keep interest rates unchanged for a fourth consecutive meeting, a decision that is expected to prompt South Korea’s central bank to adopt a more cautious approach to monetary easing in the month ahead. The Fed’s decision, made during the June 17–18 Federal Open Market Committee (FOMC) meeting, leaves the U.S. benchmark rate at 4.25 to 4.50 percent. The Bank of Korea (BOK), which lowered its key rate

June 19, 2025

South Korea's construction output sees sharpest decline in decades

SEOUL, June 19 (AJP) - South Korea’s construction sector recorded its steepest quarterly contraction since the 1997-98 Asian financial crisis, as both public and private projects ground to a halt amid tightening budgets and waning demand. The total value of construction completed in the first quarter fell 21.2 percent year-on-year to 26.87 trillion won (approximately $19.5 billion), according to data released Thursday by the Korea Research Institute for Construction Policy.

June 19, 2025

Older DDR4 memory chips now outprice newer DDR5s

SEOUL, June 19 (AJP) - In a rare twist in the global semiconductor market, older-generation DDR4 memory chips are now trading at higher prices than more advanced DDR5s, signaling a short-term disruption in traditional pricing dynamics. According to DRAMeXchange, a market research firm tracking semiconductor prices, 16-gigabit DDR4 chips traded at an average of $7.00 each on Tuesday, surpassing DDR5 chips of the same capacity, which averaged $5.90. The reversal — first obs

June 19, 2025

North Korea to resume int'l film festival this fall after pandemic hiatus

SEOUL, June 19 (AJP) - North Korea is expected to resume its only international film festival this fall after a six-year hiatus, amid signs that the isolated country is gradually reopening its borders to the outside world. The Pyongyang International Film Festival (PIFF) will kick off its week-long run on Oct. 22, organizers said on Thursday. Launched in 1987 and held every two to three years, the festival became an annual event in 2018 but was suspended indefinitely after its la

June 19, 2025

Hyundai Card launches 'Black Card' in Korea for ultra-wealthy

SEOUL, June 19 (AJP) - Hyundai Card has introduced the American Express Centurion Card — commonly known as the “Black Card” — in South Korea for the first time, marking a bold entry into the ultra-premium credit card segment long dominated by global issuers. Recognized worldwide for its exclusivity and luxury, the Centurion Card represents the pinnacle of the AMEX hierarchy, sitting above the Platinum, Gold, and Green cards. The launch follows Hyundai Ca

June 19, 2025

LS, with eyes on Europe and beyond, builds battery, energy empire

Editor's Note: This article is the 23rd installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, June 18 (AJP) - Despite mounting uncertainty in the global electric vehicle market, South Korea’s LS Group is standing firm on its long-term investment plans in battery materials and carbon-free electricity, pledging there will be “no reduction in investm

June 19, 2025