Fed rate cut opens door for Bank of Korea to loosen policy

SEOUL, September 18 (AJP) - The Bank of Korea is widely expected to cut its benchmark interest rate as early as next month, after the U.S. Federal Reserve lowered borrowing costs for the first time in nine months, easing pressure on Korea’s currency and capital markets. The Fed’s decision on Wednesday (local time) to trim its policy rate by 0.25 percentage points to a range of 4 to 4.25 percent narrowed the gap with South Korea’s rate from a record 2 percentage p

September 18, 2025

Belgium highlights business opportunities with S. Korea on biotech, life science innovation

SEOUL, September 17 (AJP) - Belgium and South Korea spotlighted cooperative spirits in joining hands on life sciences during a business forum held Wednesday at the Shilla Seoul in the Jung District. Around 70 diplomats, business leaders, and special guests attended the seminar. Both Belgium Deputy Prime Minister and Minister of Employment, Economy and Agriculture David Clarinval and Deputy Prime Minister and Minister of Foreign Affairs, European Affairs and Development Cooperation M

September 17, 2025

S.Korean firms hold off action after ICE detentions

SEOUL, September 17 (AJP) - South Korean major companies with multibillion-dollar ventures in the United States are biding their time or adopting stopgap measures as they assess the fallout from the immigration raid at a Korean battery plant in Georgia. LG Energy Solution has suspended the final-stage construction of a $6 billion joint-venture battery plant with Hyundai Motor following the surprise raid by the Immigration and Customs Enforcement and arrest of 475 workers. The b

September 17, 2025

School violence cases hit record high in South Korea

SEOUL, September 17 (AJP) - Bullying and violence in South Korean schools have worsened despite tougher discipline and prevention efforts, with reported cases now affecting 5 percent of elementary school students, a government survey showed. Of the 3.26 million students from fourth grade through high school, 2.5 percent said they experienced school violence this year, up 0.4 percentage points from last year, according to the Education Ministry. The figure has steadily risen from 1

September 17, 2025

POSCO has eyes on HMM despite industry backlash and synergy doubts

SEOUL, September 17 (AJP) - South Korea’s POSCO Group remains committed to pursuing the country’s sea flag carrier HMM, despite fierce competition for the asset and vocal protests from the maritime industry. POSCO has been reviewing the option of going after state-owned stake in HMM in hopes to cut logistics costs and strengthen resilience against global supply chain disruptions. HMM, formerly Hyundai Merchant Marine, absorbed assets and the Asia–U.S. East Coast

September 17, 2025

Korean traditional medicine to broaden footprint in Middle East

SEOUL, September 17 (AJP) - Korean traditional medicine has gained a new foothold in the global healthcare market, with the United Arab Emirates becoming the first country in the Middle East to formally recognize it as a distinct medicine. In April, the UAE introduced licensing requirements for Korean medicine practitioners as a part of efforts to realign its healthcare system with emphasis on expanding the role of traditional medicine, or the complementary and alternative medicine

September 17, 2025

Georgia raid may foil Korean investment and ties: US senator

SEOUL, September 17 (AJP) - Despite the stream of damage-control statements from Washington, the recent massive immigration raid at a South Korean battery plant in Georgia has rattled economic cooperation and investment prospects with Seoul, argued a U.S. Democratic senator. Senator Chris Van Hollen, representing Maryland, said in an e-mail interview with AJP on Tuesday that the Georgia raid threatened "our strong relationship with South Korea and the prospect of future inve

September 17, 2025

Trump to visit South Korea next month for APEC summit, US envoy says

SEOUL, September 17 (AJP) - U.S. President Donald Trump is expected to visit South Korea next month for the Asia-Pacific Economic Cooperation (APEC) summit, a U.S. envoy said on Wednesday. At a conference in central Seoul, Acting U.S. Ambassador to South Korea Joseph Yun said Trump will attend the multilateral gathering scheduled for Oct. 31 to Nov. 1 in the historic city of Gyeongju. Stressing the strong alliance between the two countries, Yun expressed expectations for another

September 17, 2025

Ex-foreign minister poised to take up role as new envoy to US

SEOUL, September 17 (AJP) - Former Foreign Minister Kang Kyung-wha is soon expected to officially assume her post as South Korea's ambassador to the U.S. National Security Adviser Wi Sung-lac said on Wednesday that Washington has completed its agrément procedures for her appointment. Kang served as the country's first female foreign minister under former President Moon Jae-in, working with top U.S. officials during U.S. President Donald Trump's first term from

September 17, 2025

OPINION: China's high-quality development brings vast opportunities to world

SEOUL, September 17 (AJP) - The "Su Super League," grassroots tournament Jiangsu Football City League, and the Village Super League, also known as Cun Chao, have gone viral, injecting fresh vitality into the integrated development of culture, commerce, tourism, and sports. Labubu toys, elf-like dolls produc

September 17, 2025