Concerns mount over South Korea's defense cost-sharing as US sets 'new standard'

SEOUL, June 20 (AJP) - Many Pundits here have begun to speculate about a possible renegotiation of South Korea's defense cost-sharing deal with Washington, after U.S. Defense Secretary Pete Hegseth said earlier this week that the U.S. has set a "new standard" for defense spending with its allies around the world including those in Asia. Pentagon spokesperson Sean Parnell also said Thursday that its European allies are setting a "global standard" for alliance

June 20, 2025

South Korea extends bidding deadline for controversial offshore gas project

SEOUL, June 20 (AJP) - South Korea has extended the bidding deadline for international energy companies to join its contentious East Sea offshore gas development project, as foreign firms seek assurances about the new administration’s stance on an initiative spearheaded by the previous government. The state-run Korea National Oil Corporation (KNOC) has delayed the original June 20 deadline by several weeks, industry officials said, following requests from interested bidders fo

June 20, 2025

MSCI upgrades Korea's short-selling rating, but cites lingering barriers

SEOUL, June 20 (AJP) - Global index provider MSCI has upgraded South Korea’s short-selling accessibility rating in its annual market accessibility review, marking a modest step forward in the nation’s yearslong effort to join the MSCI World Index. Still, the firm warned that broader foreign investor access remains hampered by longstanding structural hurdles. The upgrade — moving South Korea’s short-selling rating from “negative” to “posit

June 20, 2025

Four more South Koreans evacuated from Iran amid escalating conflict with Israel

SEOUL, June 20 (AJP) - Four more South Koreans were evacuated from Iran to neighboring Turkmenistan amid a deadly conflict in the Middle East, the Ministry of Foreign Affairs said on Friday. They joined about 30 other evacuees including their Iranian family members, who had arrived in the Turkmen capital of Ashgabat via a land route the previous day, with transportation assistance and consular support provided by South Korean diplomatic missions there. "With Iranian airspace

June 20, 2025

Korean sunscreens — a local treasure for global visitors

Editor's Note: This is the fifth article in our series exploring the evolving landscape of the Korean beauty industry and the products that captivate international visitors. SEOUL, June 18 (AJP) - As summer intensifies and international tourism to South Korea rebounds, one skincare essential consistently finds its way into visitors’ shopping baskets: Korean sunscreen. But while global demand for K-beauty SPF products has soared, the formulas that foreign consumers favor

June 20, 2025

Chinese singer Nina makes confident K-pop debut with 'Never Afraid'

SEOUL, June 19 (AJP) - Chinese singer Nina officially stepped into the K-pop spotlight on Thursday, Jun. 19, with the release of her debut mini album Never Afraid. Featuring four tracks, the album marks the beginning of her solo journey, blending her unique tone with a message of determination and self-belief. Before debuting, Nina steadily gained attention through cover videos and live content, quietly building a loyal fanbase. In an interview, she said her dream of becoming a sing

June 19, 2025

PHOTOS: Annual Seoul garden show adds Pokemon charm

SEOUL, June 19 (AJP) - The 10th Seoul International Garden Show is now open at Boramae Park, offering a vibrant display of horticulture and design through Oct. 20. As in previous years, admission to the exhibition remains free. While Boramae Park itself is accessible into the evening, illuminated by special lighting, dedicated installations and experience booths operate from noon to 7 p.m. This year's show has seen a notable surge in young visitors, a trend largely attribut

June 19, 2025

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