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  Hanwha Aerospace to develop homegrown meteor-class missile by 2033 SEOUL, April 29 (AJP) - Hanwha Aerospace has launched the development of a homegrown air-to-air missile comparable to the Meteor, as part of efforts to localize advanced aerial weapon systems. The company unveiled its localization roadmap at the “Hanwha Tech Academy 2026” event in central Seoul on Wednesday. The Meteor, developed by European defense firm MBDA, is known for its top speed of Mach 4 and an interception range exceeding 200 kilometers, making it one of the April 29, 2026
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  Korean Inc. turns to 91-day financing as corporate debt market remains icy SEOUL, April 29 (AJP) — South Korean companies are turning to three-month financing to meet debt obligation, as new bond issues become increasingly difficult with lower-rated yields hovering above 10 percent amid icy demand. Bond issuance by non-financial companies fell 6.5 percent from a month earlier to 4.78 trillion won in March, even as overall bond issuance rose 3.8 percent to 19.98 trillion won ($13.56 billion), according to data released Wednesday by the Financial S April 29, 2026
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  Ador seeks property seizure as Danielle and Min Hee-jin face deepening legal rift SEOUL, April 29 (AJP) - Ador has secured a provisional attachment on the real estate assets of former NewJeans member Danielle, her mother, and former chief executive Min Hee-jin as the legal fallout from the K-pop industry’s most high-profile corporate schism intensifies. According to Legal sources, the court filing was confirmed on Wednesday, ahead of a full-scale trial scheduled for May, and would represent a tactical shift by the Hybe-owned label to freeze the financial April 29, 2026
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  LG Electronics pivots to subscriptions, auto as profit engine strengthens SEOUL, April 29 (AJP) - LG Electronics is weathering a global spending slowdown by rapidly expanding subscription-based rentals for premium home appliances and scaling its vehicle solutions business, as demand grows for smarter mobility and recurring revenue models, its quarterly breakdown showed Wednesday. The first-quarter results underscored a structural shift in earnings quality, with high-margin recurring income from appliance subscriptions and a solid order backlog in the April 29, 2026
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  South Korea launches new homegrown frigate with delivery slated for next year SEOUL, April 29 (AJP) - A launch ceremony for a new homegrown frigate with enhanced anti-air and anti-submarine capabilities was held in Goseong, South Gyeongsang Province on Wednesday. The ceremony for the Jeju, named after the country's southern resort island, was held at SK Oceanplant's shipyard, about a year ahead of its planned delivery to the Navy slated for June next year, according to the Defense Acquisition Program Administration (DAPA). The 3,600-ton frigate is April 29, 2026
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  South Korea benchmarks BTS tourism success as Goyang visitor numbers surge SEOUL, April 29 (AJP) - Foreign arrivals in a satellite city northwest of the capital increased 35 times during a three-day BTS concert series that took place on April 9, 11, and 12, providing South Korean authorities with a statistical mandate to overhaul regional tourism strategies, a report released by the culture ministry showed Tuesday. The massive influx of travelers into Goyang, traditionally overlooked in favor of Seoul's central districts, suggests that high-profile c April 29, 2026
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  South Korea, Latvia agree to expand defense cooperation SEOUL, April 29 (AJP) - Defense Minister Ahn Gyu-back met with Latvian parliamentary speaker Daiga Mierina in Seoul on Wednesday, according to the Ministry of National Defense. Calling Latvia a "cooperative partner that shares universal values such as liberal democracy, the rule of law, and human rights," Ahn said during the meeting that Mierina's visit to South Korea would help broaden practical cooperation between the two countries. While discussing ways to expand April 29, 2026
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  Seoul Photo Festival reimagines home after 5-year hiatus SEOUL, April 29 (AJP) -Photography has become second nature in everyday life — instantly shared, endlessly consumed — yet its deeper resonance often remains elusive. It brings us face to face with moments we have never lived, lives we have never known, making the medium feel at once intimate and distant. Against this backdrop, a festival that returns to the essence of photography has come back after a five-year pause. The Seoul Photo Festival, themed “Come Bac April 29, 2026
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  Court to rule on Samsung Electronics' injunction against strike by mid-May SEOUL, April 29 (AJP) - A South Korean court said Monday it will decide by May 20 whether to grant an injunction filed by Samsung Electronics to block what the company describes as "illegal" industrial action by its labor unions. The decision by the Suwon District Court is expected just one day before the unions’ scheduled general strike on May 21. During a closed-door hearing, Samsung Electronics management argued that any work stoppage would cause &qu April 29, 2026
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  Four Korean pharma, bio bodies forge 'one team' to accelerate global push SEOUL, April 29 (AJP) - Four of South Korea's leading pharmaceutical and biotechnology organizations signed a memorandum of understanding to consolidate their fragmented overseas-support programs under a single coordinated framework, dubbed the "K-Pharma Bio One Team." The Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA), the Korea Health Industry Development Institute, the Korea Biotechnology Industry Organization and the Korea Trade-Investment Pr April 29, 2026