Education Minister Lee Ju-ho steps in as acting president amid leadership shake-up

SEOUL, May 02 (AJP) - South Korea entered unfamiliar political territory on Friday as Education Minister Lee Ju-ho assumed the role of acting president, following the sudden resignations of both Prime Minister Han Duck-soo and Deputy Prime Minister Choi Sang-mok. Han, who had been serving as acting president, stepped down to run in the upcoming presidential election. Choi, the expected successor, also resigned after the Democratic Party (DP)-led National Assembly introduced an imp

May 2, 2025

Shinsegae reshaping how Koreans shop, dine — and live

Editor's Note: This article is the 16th installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, May 01 (AJP) - The headquarters of South Korea’s Shinsegae Group, located in Seoul’s Sogong-ro, rises as a monument to nearly a century of retail evolution. Once a single department store, the company has grown into a sprawling lifestyle conglomerate

May 2, 2025

Han Duck-soo resigns as acting president to join presidential race

SEOUL, May 01 (AJP) - Han Duck-soo, South Korea’s acting president and prime minister, announced his resignation on Thursday, clearing the way for a likely run in the June 3 presidential election. “I am now stepping down from my duties as acting president and prime minister," Han said in a nationally televised address from the central government complex in Seoul. Han is expected to formally declare his presidential bid as early as Friday. He had served as ac

May 1, 2025

Supreme Court reverses acquittal of top presidential contender Lee Jae-myung

SEOUL, May 01 (AJP) - South Korea’s Supreme Court on Thursday overturned a lower court’s acquittal of Lee Jae-myung, the opposition leader and a top contender in the upcoming presidential race, sending the case back for retrial with instructions that Lee be found guilty of spreading false information. The case stems from comments Lee made during the 2021 presidential campaign. He had denied playing golf overseas with the late Kim Moon-ki, a former executive at the S

May 1, 2025

Prosecutors bring additional charges against Yoon Suk Yeol

SEOUL, May 01 (AJP) - Prosecutors on Thursday filed additional charges of abuse of power and obstruction of rights against former President Yoon Suk Yeol, who is already standing trial on charges of leading a rebellion related to the Dec. 3 martial law declaration. The prosecution's special investigation team, led by Park Se-hyun, chief prosecutor at the Seoul High Prosecutors’ Office, said the new charges were added following a supplementary investigation. Yoon, who

May 1, 2025

S. Korean government secures $9.6 billion extra budget

SEOUL, May 01 (AJP) - South Korea’s ruling and opposition parties agreed on Thursday to pass a 13.8 trillion-won ($9.6 billion) supplementary budget aimed at revitalizing the economy. Officials from the ruling People Power Party and the main opposition Democratic Party said they had reached a deal to approve the budget at a parliamentary plenary session scheduled for later on Thursday. As part of the agreement, the parties allocated 400 billion won for the issuance of loc

May 1, 2025

Han Dong-hoon decries move to consolidate candidacy with acting president

SEOUL, May 01 (AJP) - Han Dong-hoon, one of two finalists in the ruling People Power Party’s presidential primary, on Thursday criticized growing calls among party lawmakers to consolidate the party’s candidacy with Acting President and Prime Minister Han Duck-soo, accusing them of prioritizing their political survival over winning the election. “For some individuals, the goal is not victory in the presidential election but the preservation of their vested intere

May 1, 2025

DP presidential nominee forms broader election camp ahead of crucial court ruling

SEOUL, April 30 (AJP) - Lee Jae-myung, former leader and presidential nominee of the main opposition Democratic Party (DP), launched his election committee with a group of prominent figures to gear up for his campaign, with the snap presidential election just about a month away. The committee's high-profile lineup includes seasoned political veterans and former government officials, spanning a broad ideological spectrum from progressive to conservative, in an apparent move to pr

April 30, 2025

Trump Jr. holds series of one-on-one meetings with Korean CEOs

SEOUL, April 30 (AJP) - Donald Trump Jr., the eldest son of U.S. President Donald Trump, held a series of private meetings with prominent South Korean business executives on Wednesday at Josun Palace Hotel in southern Seoul. The meetings, held in a secured area of the luxury property, began early in the morning in the same building that houses the office of Jung Yong-jin, the chairman of Shinsegae Group, who played a key role in organizing the junior Trump's visit. Among th

April 30, 2025

North Korea test-fires weapons from new destroyer

SEOUL, April 30 (AJP) - North Korea has conducted a test of its new 5,000-ton destroyer, state media reported on Wednesday. According to the official state-run Korean Central News Agency (KCNA), North Korean leader Kim Jong-un inspected the tests of weapons from the destroyer, accompanied by senior military officials and his daughter Ju-ae on Monday and Tuesday. The multipurpose destroyer, named after Choe Hyon, a comrade of nation founder Kim Il-sung during his day as

April 30, 2025