Hyundai E&C completes major phase of Iraq's Basra refinery project

SEOUL, October 28 (AJP) - South Korea's Hyundai Engineering & Construction said on Tuesday that it has completed key construction work at the Basra refinery in southern Iraq and begun test operations. Awarded to Hyundai E&C in 2020, the 2 trillion won ($1.4 billion) project is expected to be fully completed early next year. Located about 450 kilometers southeast of Baghdad, the upgraded facility will produce 24,000 barrels of gasoline per day using residues from crud

October 28, 2025

South Korea opens direct air route to Indonesia's diving paradise Manado

SEOUL, October 28 (AJP) - Eastar Jet has become the first South Korean airline to launch direct flights between Incheon and Manado, Indonesia, which is famed for its crystal-clear waters, coral reefs, and rich biodiversity. The budget carrier began operating the new route on Oct. 26, with four weekly flights scheduled through mid-December. Starting Dec. 16, the service will increase to daily operations. Tickets and travel packages are now available through local travel agencies,

October 28, 2025

South Korea's CJ ENM eyes one-stop platform for K-pop fans worldwide

SEOUL, October 28 (AJP) - CJ ENM, one of South Korea’s largest entertainment companies, is betting that K-pop’s next wave of global expansion will happen not just on stage, but on screens. The company announced plans to turn its digital platform Mnet Plus into a global “fanteractive” hub — blending content, fandom, and commerce for the hyper-connected generations of Gen Z and Alpha. At a Culture TALK event in Seoul, Tuesday, CJ ENM said Mnet Plus

October 28, 2025

Weak EV sales push Samsung SDI deeper into the red

SEOUL, October 28 (AJP) - South Korea's Samsung SDI reported a fourth consecutive quarterly loss on Tuesday, as a downturn in electric vehicle demand and trade headwinds in the United States continued to weigh on the South Korean battery maker’s earnings. The company logged an operating loss of 591.3 billion won, or about $430 million, in the July–September period, pushing its cumulative deficit above 1 trillion won for the year. Revenue fell 22.5 percent from a

October 28, 2025

Hanwha Ocean stock cools after KRX flags overheating amid 11-fold jump in Q3 profit

SEOUL, October 28 (AJP) - Hanwha Ocean’s red-hot rally lost steam Tuesday after the Korea Exchange (KRX) warned of overheating in the shipbuilder’s stock, which has surged more than 20 percent this month on anticipation of blockbuster quarterly earnings. Shares of Hanwha Ocean fell about 5 percent to 132,300 won ($92.16) by midday after the KRX designated the stock as an “issue of investment caution,” citing excessive volatility in price and trading volume.

October 28, 2025

FM urges regional cooperation against online scams at forum in Malaysia

SEOUL, October 28 (AJP) - Foreign Minister Cho Hyun called for closer cooperation to tackle online scams and other crimes while discussing regional issues with participating countries at the annual East Asia Summit (EAS) in Kuala Lumpur, the Ministry of Foreign Affairs said on Tuesday. According to the ministry, Cho emphasized the need to "work closely with EAS member countries and the broader international community" to combat the growing threat of transnational cybercr

October 28, 2025

KOSPI, Nikkei take breather, China-related markets gain ahead of Trump–Xi summit

SEOUL, October 28 (AJP) - Seoul and Tokyo shares slipped Tuesday morning as investors locked in profits following a sharp rally, while China-related markets firmed on expectations of progress in upcoming U.S.–China summit talks. The benchmark KOSPI fell 1 percent, slipping back below the 4,000 threshold just a day after breaching it for the first time, as traders took profits from a near two-week rally. The stronger-than-expected third-quarter GDP report failed to lift sentime

October 28, 2025

Czech National Day reception marks 35 years of ties with South Korea

SEOUL, October 28 (AJP) - A reception celebrating the Independent Czechoslovak State Day was held Monday evening at a hotel in central Seoul, drawing some 250 guests from the diplomatic, business, academic, and media communities. Hosted by H.E. Ivan Jančárek, Ambassador of the Czech Republic to South Korea, and Mrs. Andrea Jančárková, the event marked the 35th anniversary of diplomatic relations and the 10th anniversary of the strategic partnership between the

October 28, 2025

PHOTOS: Divers capture underwater beauty of Jeju in photo contest

SEOUL, October 28 (AJP) - The Jeju Underwater Photography Championship, a four-day contest held in the waters off Jeju Island, recently concluded its fifth annual event from October 16 to 19. The competition is widely regarded as South Korea's largest and most authoritative underwater photography event. Approximately 150 scuba divers and underwater photography enthusiasts participated, showcasing their skills beneath the surface. A panel of esteemed photography experts judged

October 28, 2025

Countdown begins as global leaders set to converge in Gyeongju for APEC summit

SEOUL, October 28 (AJP) - The countdown to the Asia-Pacific Economic Cooperation (APEC) summit has begun, with leaders from 21 member economies set to converge in South Korea's historic city of Gyeongju this week. According to diplomatic sources, participants from Australia, Canada, Indonesia, Japan, and the U.S. will gather ahead of the summit's opening on Friday. Among them were U.S. President Donald Trump, making his first visit since beginning his second, non-consec

October 28, 2025