S. Korea, Malaysia meet in Seoul for new round of FTA negotiations

SEOUL, April 8 (AJP) - South Korea and Malaysia will convene this week in Seoul for a fresh round of negotiations aimed at finalizing a bilateral free trade agreement. Roughly 70 officials from both nations are expected to participate in the eighth formal round of talks, which will run from Tuesday through Friday. The South Korean delegation will be led by Kwon Hye-jin, the country’s chief trade negotiator, while Sumathi Balakrishnan, senior director at Malaysia’s Min

April 8, 2025

Financial markets plunge as Trump tariff war rattles investors

SEOUL, April 7 (AJP) - South Korean financial markets plunged on Monday, with the benchmark KOSPI index suffering its steepest decline in years, as rising fears of new U.S. tariffs spurred a wave of foreign investor selloffs and heightened concerns over the country’s export-reliant economy. The KOSPI tumbled 5.57 percent to close at 2,328.20 — its lowest level since November 2022 — while the tech-heavy KOSDAQ dropped 5.25 percent to 651.30. Foreign investors led

April 7, 2025

Wildfire erupts again in Southern Korea, weeks after major blaze

SEOUL, April 07 (AJP) - A wildfire broke out Monday in a forested area of Hadong, southern Korea, reigniting concerns in a region that was heavily affected by a major blaze just weeks ago. According to the Korea Forest Service, the fire began around 12:05 p.m. on a mountain, in Hadong some 285 kilometers (177 miles) south of Seoul. The wildfire erupted about 3 kilometers from the site of a large blaze that scorched nearby hillsides late last month. A total of 11 helicopters

April 7, 2025

LG Energy Solution's Arizona battery plant on track for production next year

SEOUL, April 7 (AJP) - LG Energy Solution's first cylindrical battery plant in the United States will begin commercial production by the end of 2026, the company said. At a recent event attended by local officials and representatives of the Arizona Chamber of Commerce, the South Korean battery manufacturer said construction of its $5.5 billion facility in Queen Creek has passed the halfway mark. “Construction of the Arizona cylindrical battery plant is more than 50 perc

April 7, 2025

Job postings fall while number of job seekers rises: data

SEOUL, April 07 (AJP) - South Korea is facing a growing imbalance in the job market, with new job postings sharply declining while the number of job seekers continues to rise, government data showed Monday. According to the Ministry of Employment and Labor, the number of new job openings posted through the government’s Employment24 platform in March stood at 154,000. This marks a decrease of 45,000, or 22.8 percent, compared to the same month last year. Meanwhile, the num

April 7, 2025

[UPDATE] Presidential election date to be decided through cabinet meeting

SEOUL, April 07 (AJP) - The South Korean Prime Minister’s Office announced Monday that the schedule for the early presidential election has not yet been decided and will be confirmed and announced through a cabinet meeting on Tuesday. The announcement came three days after Constitutional Court justices unanimously decided to remove President Yoon Suk Yeol from office on Apr. 4, about three months after Yoon unexpectedly declared martial law on Dec. 3, 2024. The law requires

April 7, 2025

US tariffs imperil South Korean auto industry

SEOUL, April 7 (AJP) - South Korean auto parts and tire manufacturers are confronting a wave of uncertainty after the United States imposed steep tariffs on imported automotive components, a move that industry officials warn could jeopardize the viability of hundreds of smaller firms and disrupt long-standing supply chains. The Trump administration began enforcing a 25 percent tariff on a range of foreign-made automotive components — among them tires, engines and transmissions

April 7, 2025

PHOTOS: Korean instant noodles going global

SEOUL, April 07 (AJP) - The "2025 Korea Ramyeon Fair" took place at the COEX convention center in Magok, Seoul, from April 4-6, showcasing the enduring popularity and growing international reach of South Korean instant noodles. This year's exhibition featured 150 companies, presenting a wide array of products, from the noodles themselves to raw ingredients, cooking equipment, and manufacturing supplies. According to recent figures, exports of South Korean instant noodles reac

April 7, 2025

Pyongyang hosts international marathon event for first time in 6 yrs

SEOUL, April 07 (AJP) - North Korea hosted the 31st Pyongyang International Marathon on Sunday, Pyongyang’s state media reported Monday. It was the first international marathon held in six years, following the country’s lockdown in 2020 to prevent the spread of the coronavirus pandemic. The Pyongyang International Marathon is held annually to celebrate the birthday of Kim Il-sung, the founding father of North Korea, who was born in 1912. The event, which draws professi

April 7, 2025

US halts imports from Korean salt farm over forced labor allegations

SEOUL, April 7 (AJP) - The United States has blocked imports of sun-dried salt from South Korea’s largest salt producer, citing evidence of forced labor uncovered in a federal investigation. U.S. Customs and Border Protection on April 3 issued a Withhold Release Order against Taepyung Salt Farm, located in Sinan-gun, South Jeolla Province. The order, which took effect immediately, directs personnel at all U.S. ports of entry to detain any shipments of salt originating from the

April 7, 2025