South Korean consumer confidence reaches 8-year high

SEOUL, August 26 (AJP) - South Korean consumer confidence rose in August to its highest level in nearly eight years, buoyed by stronger household spending and robust exports, according to central bank data released Tuesday. The Bank of Korea’s Composite Consumer Sentiment Index edged up to 111.4 in August from 110.8 the previous month, the fifth straight monthly gain. The reading was the highest since January 2018, when the index stood at 111.6. A score above 100 signals op

August 26, 2025

Softbank sheds $1.6 billion stake in Coupang amid push into AI

SEOUL, August 26 (AJP) - SoftBank, the Japanese technology investment giant, has unloaded nearly $1.65 billion worth of shares in Coupang, South Korea’s largest e-commerce platform, as it continues to pare back its holdings in the company. According to a filing with the U.S. Securities and Exchange Commission, SoftBank sold 20 million Coupang shares on Aug. 20 at the New York Stock Exchange, raising about $576.8 million. The sale followed two earlier transactions this yea

August 26, 2025

Hyundai Motor to add $5 billion to US investment, bringing total to $26 billion

SEOUL, August 26 (AJP) - Hyundai Motor Group said on Tuesday it would commit an additional $5 billion to its U.S. operations, expanding its planned investment through 2028 to $26 billion. The announcement coincided with the South Korea–U.S. summit between Lee Jae Myung and Donald Trump. Hyundai, which had already pledged $21 billion in March, said the new funds would be directed toward steel, automobiles and robotics. Chairman Chung Eui-sun outlined the plan as part of

August 26, 2025

Lee vows to work with Trump to resume talks with North Korea in first bilateral summit in Washington

SEOUL, August 26 (AJP) - President Lee Jae-myung and U.S. President Donald Trump pledged to work together to resume dialogue with North Korea during their first summit in Washington on Monday. Lee, who reportedly read the U.S. leader's book "The Art of the Deal" as part of preps for the summit, opened talks with lavish praise for his past efforts to engage with Pyongyang "I hope you can bring peace to the Korean Peninsula, the only divided nation in the world,

August 26, 2025

President Lee eases Trump's pre-summit doubts after sharp remarks on South Korea

SEOUL, August 26 (AJP) - Hours before his first summit with South Korean President Lee Jae Myung, United States President Donald Trump unsettled Seoul on Monday (local time) with blunt social media remarks about the political situation in South Korea. Posting on American social media platform Truth Social about two and a half hours before the meeting in Washington, Trump wrote, "WHAT IS GOING ON IN SOUTH KOREA? Seems like a Purge or Revolution. We can’t have that and do

August 26, 2025

Trump pushes arms sales, energy exports to Seoul

SEOUL, August 26 (AJP) - U.S. President Donald Trump pressed South Korea on defense spending, energy imports and industrial cooperation during a meeting with South Korean President Lee Jae Myung at the White House on Monday, underscoring his emphasis on weapons sales and American energy exports. Trump, speaking in the Oval Office, cast South Korea as a reliable buyer of U.S. military hardware and suggested that expanding defense sales would be a central focus of the partnership.

August 26, 2025

Lee, Trump will strengthen shipbuilding cooperation under 'MASGA' initiative

SEOUL, August 26 (AJP) - South Korea’s President Lee Jae Myung and U.S. President Donald Trump and on Monday (local time) pledged to expand cooperation in shipbuilding, with Trump endorsing a sweeping South Korean proposal aimed at reviving America’s long-declining industry. At their first summit meeting at the White House, Trump voiced support for what Seoul has branded the “Make American Shipbuilding Great Again” initiative, or MASGA — a $150 billion

August 26, 2025

[K-Pop] Multinational units of K-pop girl group BlingOne meet fans in Seoul

SEOUL, August 26 (AJP) - K-pop girl group BlingOne, which has no South Korean members at all, held a fan event in Seoul on Monday as its Chinese and Peruvian unit members came together. Formed through the World K-Pop Center's global audition project "Click the Star," which aims to discover and nurture aspiring K-pop stars from 32 countries across the world, BlingOne began their journey with three Peruvian members in June last year and six Chinese members in February th

August 26, 2025

PHOTOS: President Lee's first summit with Trump

SEOUL, August 26 (AJP) - President Lee Jae Myung and U.S. President Donald Trump held their first summit on Aug. 25 (local time) at the White House, discussing a range of issues including North Korea and bilateral economic cooperation. During the meeting, President Lee requested that Trump visit South Korea during the APEC summit in Gyeongju and meet with the North Korean leader, Kim Jong Un. In response, Trump indicated he would be willing to meet with Kim this year, if a meeting

August 26, 2025

Hearing scheduled later this week to decide former PM's arrest

SEOUL, August 25 (AJP) - Former Prime Minister Han Duck-soo is scheduled to face a hearing later this week that will determine his arrest over his alleged involvement in former President Yoon Suk Yeol’s botched martial law debacle last year. The Seoul Central District Court said on Monday that the hearing is set for Wednesday, following independent prosecutors' request for Han's arrest as part of their investigation into the debacle, after several rounds of questioning

August 25, 2025