PPP fails to replace presidential candidate as party vote blocks leadership's last-minute move

SEOUL, May 11 (AJP) - In a dramatic turn just one day before official presidential campaigning begins, South Korea’s conservative People Power Party (PPP) failed in its attempt to replace its presidential nominee, Kim Moon-soo, after a party-wide vote rejected the leadership’s emergency push to install former Prime Minister Han Duck-soo as the new candidate. The internal vote, conducted via an automated response survey (ARS) from 10 a.m. to 9 p.m. on Saturday, asked

May 11, 2025

Han Duck-soo calls for unity in first press conference after nomination turmoil

SEOUL, May 10 (AJP) - Han Duck-soo, the newly designated presidential candidate of the People Power Party (PPP), called for party unity and national reconciliation during a press conference held at 3:30 p.m. on Saturday as the party pressed forward with its decision to replace former labor minister Kim Moon-soo amid deep internal division and legal wrangling. “I never once dreamed of running for president,” Han said in his opening remarks. “But I came to believe

May 10, 2025

PPP defends candidate switch as last resort, Kim calls move illegal political purge

SEOUL, May 10 (AJP) - The People Power Party (PPP) on Saturday defended its decision to revoke Kim Moon-soo’s presidential nomination and initiate the selection of former Prime Minister Han Duck-soo as its new candidate, describing the move as an emergency measure in response to failed unification talks and mounting internal division. The party’s leadership maintains that the action was legal. Speaking at a press conference at the National Assembly, PPP emergency committ

May 10, 2025

Kim Moon-soo calls PPP candidate switch a 'political coup,' vows legal fight

SEOUL, May 10 (AJP) - In a press conference held at 9:50 a.m. on Saturday, Kim Moon-soo condemned the People Power Party’s (PPP) early-morning decision to strip him of his presidential candidacy and replace him with former Prime Minister Han Duck-soo. Calling the move a “political coup,” Kim declared his intent to pursue legal and political action against party leaders and urged the public to stand with him in what he described as a fight to defend South Korea&rsquo

May 10, 2025

PPP moves to replace Kim Moon-soo with Han Duck-soo as presidential nominee

SEOUL, May 10 (AJP) - The People Power Party (PPP) launched an unprecedented candidate replacement process early Saturday morning, canceling Kim Moon-soo’s nomination and registering former Prime Minister Han Duck-soo as its new presidential candidate, following the collapse of unification talks between the two conservative contenders. At around 3 a.m. on May 10, PPP election committee chair Lee Yang-soo announced via the party's website that Han had been officially r

May 10, 2025

South Korea posts current account surplus for 23rd straight month

SEOUL, May 9 (AJP) - South Korea continued its current account surplus streak for the 23rd straight month, the Bank of Korea (BOK) said on Friday. According to preliminary data compiled by the central bank, the surplus reached around US$9.14 billion in March, up $2 billion from the previous month. Exports of goods rose slightly from a year earlier to around $59.31 billion, backed by a recovery in shipments of semiconductors and computer-related devices. Imports also went up more

May 9, 2025

BYD's compact SUVs top imported EV sales, but why are they hardly seen on the streets?

SEOUL, May 9 (AJP) - Chinese automaker BYD's Atto 3 has overtaken Tesla to become the best-selling model in the domestic imported electric vehicle market, according to data released by the Korea Automobile Importers and Distributors Association earlier this week. Some 543 units of the compact SUV were sold last month, narrowly surpassing the Tesla Model Y Long Range, which sold 533 units, followed by other Tesla models. Despite the feat, many motorists are baffled, as the veh

May 9, 2025

Naver posts mixed earnings results for 1st quarter

SEOUL, May 9 (AJP) - Naver posted robust first-quarter sales while its net profit fell, according to figures released by the South Korea's largest portal on Friday. Sales for the first three months of this year reached 2.79 trillion won (US$1.99 billion), up 10.3 percent from the same period last year, backed by steady growth across its diverse business sectors despite intensifying competition and challenges in emerging technologies including artificial intelligence (AI). Ope

May 9, 2025

Rising demand for data centers reshapes global real estate market, research reveals

SEOUL, May 9 (AJP) - A surge in global demand for data centers is significantly influencing the dynamics of the real estate market around the world, according to a recent analysis by Cushman & Wakefield. The global commercial real estate services firm compared data centers worldwide and found that development pipelines have reached historic levels this year, with North and South America driving market growth. Virginia stands at the forefront with ongoing development exceeding

May 9, 2025

Excitement builds early for New Pope's planned visit to Seoul

SEOUL, May 9 (AJP) - With a new pope elected to lead the Roman Catholic Church at the Vatican on Thursday, religious leaders and other faithful here are expressing high expectations. Although they may have to wait a few more years to see the new pope in person, excitement is already building ahead of his planned visit to Seoul in 2027. White smoke billowed from the chimney of the Sistine Chapel on the second day of the Vatican's conclave, attended by nearly 130 cardinals,

May 9, 2025