Yoon embarks on South American trip for APEC and G20 summits

SEOUL, November 14 (AJP) - President Yoon Suk Yeol is embarking on his trip to South America on Thursday to attend the Asia-Pacific Economic Cooperation (APEC) summit in Peru and the G20 summit in Brazil. Yoon is set to deliver a speech at the first session of the summit among Pacific Lim countries in Lima on Friday as the incoming chair of next year's APEC summit. The historic city of Gyeongju in the southeastern province was selected to host the summit in 2025.

November 14, 2024

Young Poong, MBK file damages suit against Korea Zinc directors

SEOUL, November 14 (AJP) - Young Poong and MBK Partners have filed a lawsuit against Korea Zinc seeking about 700 billion won ($497.5 million) in damages for alleged financial mismanagement tied to an overpriced stock buyback and large public offering amid a battle over control of the world's largest smelter. According to legal sources on Thursday, Young Poong recently submitted a shareholder derivative lawsuit to the Seoul Central District Court, claiming Korea Zinc's direc

November 14, 2024

Korean shipbuilders vie for $13.9 billion U.S. naval maintenance market

SEOUL, November 14 (AJP) - South Korea's two largest shipbuilders, HD Hyundai Heavy Industries Co. and Hanwha Ocean Co., are intensifying competition for the U.S. Navy's maintenance, repair, and operations (MRO) contracts, valued at about US$13.9 billion annually. The development follows U.S. President-elect Donald Trump's recent emphasis on maritime cooperation with South Korea during his conversation with President Yoon Suk Yeol on Nov. 7. "We need to closely c

November 14, 2024

Korean firms show strong interest in foreign hiring, favoring Vietnamese workers

SEOUL, November 14 (AJP) - A survey of 557 South Korean companies by career platform Saramin and foreign recruitment service Comate revealed that 73.4 percent are willing to hire foreign workers, with Vietnamese nationals being the most preferred at 31.3 percent, followed by Central Asians at 20 percent and Filipinos at 18.6 percent. The hiring intention was highest among companies with 50-100 employees at 74.5 percent, while 84.2 percent of companies experiencing labor shortages ex

November 14, 2024

OPINION: What Trump's reelection means for relations between regional rivals China and Japan

SEOUL, November 14 (AJP) - Donald Trump was declared the winner of the U.S. presidential election on Nov. 6, sealing a historic and improbable return to the White House. His reelection has triggered speculation as to the state of world affairs once he assumes office in January. One of the relationships most speculated on is between the U.S. and China. Trump waged a trade war against China during his first term as president and has now promised higher tariffs on Chinese goods –

November 14, 2024

China taps vice UN representative as ambassador to Seoul: sources

SEOUL, November 13 (AJP) -- China has nominated Dai Bing, currently the deputy permanent representative to the United Nations, as its new ambassador to South Korea, diplomatic sources said Wednesday. The Chinese government is reportedly in the final stages of review before officially announcing Dai's appointment to the position, which has been vacant for over three months. Beijing is expected to request agrement from Seoul as early as this week, the sources said. If approv

November 13, 2024

PHOTOS: Students protest co-ed proposal at Dongduk Women's University

SEOUL, November 13 (AJP) - Students at Dongduk Women's University boycotted classes for a third day Wednesday over possible plans to admit male students. The university administration said no decision has been made on becoming co-educational and promised to consult with current students.

November 13, 2024

Singer Kim Ho-joong gets prison term in hit-and-run case

SEOUL, November 13 (AJP) - Singer Kim Ho-joong was sentenced to two and a half years in prison on Wednesday for a hit-and-run accident early this year. He rammed into a taxi while driving under the influence and fled the scene in Gangnam, southern Seoul in May. Kim initially denied driving under the influence, but after CCTV footage and other evidence emerged, he was forced to admit it about 10 days later. The Seoul Central District Court reprimanded Kim for his reckless drivi

November 13, 2024

OPINION: The Republican election sweep – beyond the headlines

KENOSHA, November 13 (AJP) - If there was a single strategic turning point in the 2024 presidential election, it could have been the disastrous decision of the campaign of Vice President Kamala Harris to take a pass on the Al Smith Dinner in New York. Since the now-legendary 1960 race between Senator John F. Kennedy and Vice President Richard M. Nixon, this singular event has generally been considered obligatory. The only other presidential nominee to duck the dinner was ill-fated W

November 13, 2024

Korea Zinc cancels controversial share sale; chairman to step down as board chief

SEOUL, November 13 (AJP) - Korea Zinc on Wednesday withdrew its plan to sell new shares worth 2.5 trillion won (US$1.77 billion) amid regulatory scrutiny and shareholder pushback. The world's largest smelter announced the share issue Oct. 30 to fend off a takeover attempt by its largest shareholder, Young Poong, and MBK Partners. "We humbly accepted concerns from shareholders and market participants that we hadn't anticipated when we initially decided on the public o

November 13, 2024