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  Seoul taps sovereign funds to bankroll AI and next-generation tech SEOUL, December 12 (AJP) - South Korea launching three-digit-billion-dollar government-sponsored growth fund investing AI and next-gen technology companies through equity and projecting financing is working on a separate wealth fund to systematically groom non-listed unicorn darlings. During a televised policy briefing to President Lee Jae Myung on Thursday, Deputy Prime Minister and Finance Minister Koo Yun-cheol outlined plans for a fund modeled on Singapore’s Temase December 12, 2025
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  PHOTOS: Get early taste of Lunar New Year holiday at COEX SEOUL, December 12 (AJP) - Festive Gift Fair opened on December 10 at COEX in Seoul, running through December 13. Organized by Messe E&D and Korea Food Service News, the fair features diverse gift sets including health products, agricultural and marine products, household goods, and food and beverages. Visitors can purchase items directly at the event, and various sampling opportunities make the experience particularly engaging for attendees. This year's fa December 12, 2025
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  PHOTOS: Pet fair underway in Seoul SEOUL, December 12 (AJP) - The three-day "Christmas Seoul Pet Show" opened in Seoul on Dec. 12, showcasing a rapidly expanding companion animal market driven by the trend of "pet humanization" in South Korea. The event, which runs through Dec. 14, aims to promote the respect of companion animals, emphasizing their growing status as full-fledged family members in the country. This shift in perception — where pets are increasingly treated like human childre December 12, 2025
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  Asian markets rally on US optimism; Korean won volatile amid yen carry trade concerns SEOUL, December 12 (AJP) - Asian equity markets rallied across the board on Friday, lifted by optimism from Wall Street after U.S. Federal Reserve Chair Jerome Powell’s hawkish rate cut was interpreted as a signal that the American economy may avoid a recession. Despite the market rebound, currency volatility persisted. The Korean won closed at 1,476.3 per dollar as of 4 p.m., up 3.8 won from the previous session, amid concerns that it could again test the 1,480 level. Fears December 12, 2025
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  Ballet en Grand Jeté in Korea, blending graceful workout and fashion SEOUL, December 12 (AJP) - Once confined to the cultural elite, ballet in South Korea is stepping firmly into the mainstream — embraced as both a graceful workout and a fashion-forward lifestyle, propelled by star dancers, celebrities and social media. The shift is visible on major stages and smartphone screens alike. Leading male principals such as Kim Ki-min of the Mariinsky Ballet and Jeon Min-chul have gone viral on TikTok and Instagram, recasting ballet as aspirational December 12, 2025
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  Seoul, Beijing resume high-level trade talks after 7-year hiatus SEOUL, December 12 (AJP) - South Korea’s Trade Minister Kim Jung-kwan met Chinese Commerce Minister Wang Wentao in Beijing on Friday, marking the first bilateral ministerial trade meeting between the two countries in seven years. The talks followed the recent South Korea–China summit and focused on restoring trade momentum. The ministers agreed to resume regular high-level consultations to strengthen economic cooperation. Seeking to expand economic engagement beyo December 12, 2025
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  Two workers still missing after construction site collapse in Gwangju SEOUL, December 12 (AJP) - Rescue workers have been searching for missing workers on Friday after a steel structure collapsed at a construction site in the southwestern city of Gwangju the previous day. The collapse occurred at the site for a library, leaving four workers trapped under the debris. Two of them were found dead and two others remain missing. Authorities believe the collapse started while concrete was being poured on the second-floor roof, burying the workers under December 12, 2025
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  USFK chief warns against rushing wartime control transfer SEOUL, December 12 (AJP) - Gen. Xavier Brunson, the commander of U.S. Forces Korea (USFK), on Friday stressed the importance of meeting conditions for the transfer of wartime operational control to Seoul from Washington rather than rushing to it. Speaking at an online seminar hosted by the Korea-U.S. Alliance Foundation and the Korea Defense Veterans Association, Brunson said, "We cannot say we're going to slide away from the conditions just so that we can get this done i December 12, 2025
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  SK On–Ford breakup signals Korea's battery pivot to ESS amid EV fog SEOUL, December 12 (AJP) - The dissolution of the $11.4 billion battery joint venture between SK On and Ford Motor stands as a stark symbol of the shifting center of gravity in the global battery business — away from electric vehicles and toward energy storage systems (ESS), where surging power demands from AI-driven data centers are rewriting the industry's growth map. The two companies will formally part ways in the first quarter of 2026, splitting control of three giga December 12, 2025
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  China Duty-Free Group emerges as key contender in Incheon airport duty-free bid SEOUL, December 12 (AJP) - China Duty-Free Group (CDFG), the world’s largest duty-free operator, is emerging as a major contender in the re-bidding of duty-free concessions at Incheon International Airport, setting the stage for heightened competition with South Korean rivals Lotte, Hyundai, Shilla and Shinsegae. A Dec. 18 bidder briefing is expected to confirm participation. Incheon Airport Corporation on Thursday reopened the tender for operators of the DF1 zone December 12, 2025