South Korea's credit card firms post profit drop as delinquency hits decade high

SEOUL, September 05 (AJP) - South Korea's credit card companies saw their combined net profits sink more than 18 percent in the first half of the year, with delinquency rates climbing to their highest point in over a decade, according to data released Friday by the Financial Supervisory Service (FSS). Net profits stood at 1.2251 trillion won ($8.79 billion) for the January–June period, down 18.3 percent from a year earlier. The slide came even as revenue rose by 331.1 bi

September 5, 2025

South Korea's egg prices surge ahead of traditional holiday Chuseok amid supply shortage

SEOUL, September 05 (AJP) - South Korea's egg prices are expected to climb further as the Chuseok, traditional Korean thanksgiving holiday season, is set to take place in early October. Also, supply constraints stemming from extreme summer heat continue to squeeze the market. The Korea Rural Economic Institute projected Friday wholesale egg prices would reach 1,900 to 1,950 won (around $1.43 to $1.47) per 10 extra-large eggs in September, marking a potential 15.7 percent increas

September 5, 2025

Two South Koreans dead in Lisbon funicular crash

SEOUL, September 5 (AJP) - Two South Koreans were killed and another seriously injured in a funicular crash in Lisbon on Wednesday (local time), Seoul's foreign ministry said Friday. The ministry confirmed that a South Korean man and woman died in the crash, while another woman underwent surgery at a local hospital and is still in intensive care. "Our embassy is working closely with Portuguese authorities to provide consular support, including assistance for the injure

September 5, 2025

[K-Pop] aespa to drop sixth mini album "Rich Man" today

SEOUL, September 05 (AJP) - aespa will return Friday with their sixth mini album "Rich Man," scheduled for release at 1 p.m. KST (0400 GMT) across global music platforms. The record features six tracks in a range of styles, including hip hop, R&B, and pop. The title track "Rich Man" is described as a dance song driven by rough electric guitar riffs and an addictive topline, paired with shifting band sounds meant to highlight the group’s vocals a

September 5, 2025

[K-Pop] K-pop tops Billboard's main charts for first time in five years

SEOUL, September 04 (AJP) - K-pop song has reclaimed the top spots on both of Billboard's main song charts, the Hot 100 singles ranking and the Billboard 200 albums chart, for the first time in about five years. The last time the feat was achieved was in December 2020 by BTS. According to the latest Billboard update on September 4, the original soundtrack of Netflix's animated film K-pop Demon Hunters held the No. 1 position on the Hot 100 with the track "Golden,"

September 4, 2025

LG Electronics to supply cooling systems for AI data center in US

SEOUL, September 04 (AJP) - LG Electronics said Thursday it had secured a major contract to provide cooling solutions for a large artificial intelligence data center in the United States. Jo Joo-wan, the company’s chief executive, announced the win on LinkedIn, saying LG would supply chillers with advanced “free-cooling” capabilities. He didn't mention the value of the contract. “This demonstrates both our technological competitiveness and our abilit

September 4, 2025

SK On expands into US energy storage market with $1.4 billion battery deal

SEOUL, September 04 (AJP) - Battery maker SK On said Thursday it had secured a major foothold in the North American energy storage market by signing a large supply contract with Colorado-based Flatiron Energy. The deal covers one gigawatt-hour of containerized storage systems using lithium iron phosphate (LFP) batteries for a project in Massachusetts, beginning next year. SK On also gained “preferred supplier” status for Flatiron’s broader portfolio of U.S. proje

September 4, 2025

[K-Pop] Late-bloomer Day6 to drop new album ahead of 10th anniversary

SEOUL, September 4 (AJP) - K-pop rock band Day6 will release its fourth full-length album on Friday, just ahead of its 10th anniversary, its agency said Thursday. The new album, "The Decade," is set to drop on Friday, nearly six years after their last full-length release, and will feature the band's first-ever double title tracks, "Dream Bus" and "Inside Out." Consisting of 10 tracks, the album celebrates their past decade and explores stories of

September 4, 2025

S. Korean National Assembly Speaker meets N. Korean and Russian leaders in Beijing

SEOUL, September 04 (AJP) - South Korean National Assembly Speaker Woo Won-sik had two rare encounters in Beijing on Wednesday, a brief greeting with North Korean leader Kim Jong-un and a short conversation with Russian President Vladimir Putin. One ended with little more than a nod, the other touched upon inter-Korean relations. According to Woo's office, the encounter with Kim took place in a waiting room ahead of China's "Victory Day" military parade at Tianan

September 4, 2025

French bestseller 'Empire of the Ants' to be released as webtoon

SEOUL, September 4 (AJP) - French novelist Bernard Werber’s 1991 bestseller "Empire of the Ants" will be released as a full-color webtoon in Korea and France in November. Weber is one of the most popular foreign novelists among South Korean book lovers. First published in 1991, Empire of the Ants explores human and ant societies through science fiction, focusing on survival, evolution and social order. Translated into Korean in 1993, the novel became a bests

September 4, 2025